ABB India Ltd Share Price – NSE  / BSE

Capital Goods - Electrical Equipment, Mid Cap

The revenue growth was driven by focused execution of backlog from base orders. The quarter saw strong order momentum long cycle orders increasing presence in the overall basket.

The company's income from Motion revenue was at Rs 1,079.46 crore (up 9.99% YoY), Electrification revenue came in at Rs 1,154 crore (up 10.75% YoY) and income from Robotics & Discrete Automation stood at Rs 111 crore (down 5.93% YoY), Process Automation stood at Rs 596 crore (down 11.83% YoY), during the period under review.

The firm reported a profit before tax of Rs 597.26 crore for September 2024 quarter, up 23.06% YoY.

During the quarter, operational EBITA soared 32.41% YoY to Rs 478 crore. Operational EBITA margin improved to 16.4% in Q3 2024 as compared with 13% recorded in Q3 2023.

ABB India said that it continued to have a strong order backlog as of 30 September 2024 at Rs 9,995 crore, an increase of 25% YoY, which provides good revenue visibility and is well aligned to support growth plans in the coming quarters.

The company’s cash position continued to remain robust at Rs 5,001 crore at the end of Q3 CY24.

Sanjeev Sharma, managing director of ABB India said, “We have delivered another quarter of consistent performance, creating balanced and profitable growth for our stakeholders and deepening engagement with our customers. The quarter was marked by record levels of backlog complemented by a strong book to bill and cash.

The large orders, a marker of economic robustness led by government led capex revival, emerged from diverse sectors like transportation, metals, and even new ones like the data centers. This provides each division the flexibility to leverage opportunities as per their business cycles and bandwidth and entails revenue conversion from a vibrant and varied basket of orders and timeframes.”

With respect to its outlook, the company stated, “India’s rapid adoption of automation, digitalization, and process-driven manufacturing solutions across industries is expected to fuel sustained capex in infrastructure, productivity-enhancing technologies, and localized manufacturing. At the same time, sectors like green energy and value-added exports show resilience and growth potential in the near term. ABB India is well-positioned to leverage these trends, driving innovation and operational efficiency in a dynamic market.

ABB is a leading global technology company. Its business areas include electrification, process automation, motion (drives and motors) and robotics & discrete automation.

Shares of ABB slipped 5.04% to Rs 6,991.60 on the BSE.

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Net profit of ABB India rose 21.38% to Rs 440.45 crore in the quarter ended September 2024 as against Rs 362.87 crore during the previous quarter ended September 2023. Sales rose 4.99% to Rs 2888.59 crore in the quarter ended September 2024 as against Rs 2751.19 crore during the previous quarter ended September 2023.

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The Indian Institute of Technology Bombay (IIT Bombay) has partnered with ABB India to establish a cutting-edge teaching laboratory for electrical machines and drives at the Department of Energy Science and Engineering on its campus. This partnership aims to provide undergraduate and postgraduate students with hands-on experience using modern industrial equipment and prepare undergraduate and post-graduate students for future roles in the fast-evolving energy and industrial sectors while promoting environmental sustainability.

The teaching lab will feature energy-efficient, mechanically coupled electrical machine sets, variable frequency drives (VFDs), and programmable logic controllers (PLCs), focusing on delivering practical training in electrical machines and drives. The laboratory will emulate various industrial applications, including those used in wind turbine generators and electric vehicle drivetrains, ensuring that students understand modern energy systems comprehensively. With support from ABB India, the lab will help foster the next generation of engineers, equipped with the knowledge and skills needed to innovate once they join the industry in the future sustainably.

Previously, IIT Roorkee had partnered with ABB India for technical cooperation to construct an operational smart electricity distribution network and management system (SDNMS) on its campus. In partnership with the National Institute of Technical Teachers Training & Research (NITTTR) Chandigarh, ABB India set up a first-of-its-kind multi-physics digital simulation center in 2019. In addition, the company runs other up-skilling programs and engages with the youth to make them employable. In Faridabad, ABB India collaborated with Udayan Care to run a Community Information Technology and Skill Center. The center aims to support girls from economically disadvantaged families in becoming self-reliant by undertaking IT and vocational training. ABB India had also signed an MoU to refurbish the Government Industrial Training Institute (ITI) located in the Peenya Industrial Area, one of the oldest industrial areas in Bengaluru, under its CSR initiatives.

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ABB India will hold a meeting of the Board of Directors of the Company on 4 November 2024.

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