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Earnings|ABB India Ltd. (NSE:ABBINDIA) : Q3FY23 Results Out; Total Income rise 15% YoY

ABB India (NSE:ABBINDIA) is a subsidiary of the global technology company ABB Group, which is headquartered in Zurich, Switzerland. ABB India was established in 1949 and is headquartered in Bengaluru, India. The company operates in the power and automation technology segments and provides solutions for industries such as utilities, infrastructure, transportation, and process industries. ABB India’s products and services include power and distribution transformers, motors and generators, switchgear and control gear, substations, robotics and motion, and process automation systems. The company also provides services such as training, consulting, and support for its customers. ABB India has a significant presence in the Indian market, with manufacturing facilities and offices located in various parts of the country. The company has also been actively involved in various government initiatives in India, such as the Smart Cities Mission, Make in India, and Digital India.

ABB India, a subsidiary of the global technology company ABB Group, reported a significant growth in its net profit and revenue for the fourth quarter that ended on December 31, 2022. The company’s net profit jumped by 62.3 percent YoY to Rs 305.3 crore, compared to Rs 188 crore in the corresponding quarter of the previous fiscal year. Its revenue from operations also increased by 15.5 percent to Rs 2,427 crore, compared to Rs 2,101.5 crore in the same period of the previous fiscal year.

At the operating level, ABB India’s EBITDA increased by 96.7 percent to Rs 364.3 crore in the first quarter of the current fiscal year, compared to Rs 186 crore in the corresponding period of the previous fiscal year. The EBITDA margin stood at 15 percent in the reporting quarter, as compared to 8.8 percent in the corresponding period of the previous fiscal year. This shows a significant improvement in the company’s operating efficiency.

ABB India’s order booking reached a significant milestone of Rs 10,028 crore in 2022, with Rs 2,335 crore in the fourth quarter of 2022. The growth during the quarter was led by large value orders in industrial solutions and segments like data centers in electrification. In motion, better penetration in segments like railways, metals, rubber, and food and beverage and enhanced presence in tier 1 and 2 cities spurred growth. Process automation held steady with opportunities from paint industry and energy companies, according to the company.

ABB India’s order backlog as of December 31, 2022, stood at Rs 6,468 crore, which provides revenue visibility and is well-aligned to support growth plans in the coming quarters. The company has gained back order volumes to Rs 10,000 crore to pre-demerger level of the portfolio, according to Sanjeev Sharma, country head and managing director. The Oct-Dec 2022 quarter has seen growth across multiple market segments and performance parameters, complemented by good execution for the domestic market and export customers with responsive service, he added. Overall, ABB India’s strong financial performance and growth in order booking and backlog are positive indicators for the company’s future growth prospects.

Tags: Technology
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