Growth expectations to support valuations of Siemens, ABB India stocks

Indian auto companies are investing in robotics which is a potential source of traction

Two engineering global majors reported strong quarterly performances in the April-June quarter of financial year 2023-24 (Q1FY24). Engineering services company ABB India’s revenue came in at Rs. 2,510 crore and was up 22 per cent over the year-ago period. This was led by growth in the robotics segment at 154 per cent, followed by electrification, industrial automation and motion segments, which registered a growth of 10 per cent, 20 per cent, and 38 per cent respectively.

The operating profit was up 75 per cent YoY at Rs. 350 crore, while operating margins were at 13.9 per cent (up by over