Abb

High-growth segments, Tier II, III cities to drive long-term gains for ABB

Some large orders were postponed and government capex has seen delays

ABB India Q4 results: Net profit jumps 87% to Rs 460 cr on higher revenues

ABB India on Friday reported an over 87 per cent rise in its net profit at Rs 460 crore in the March 2024 quarter, pushed by higher revenues. It had posted a profit after tax of Rs 245 crore in the corresponding period of the previous fiscal year, the company said in a statement. The electrification and automation major follows the financial year from January to December. Its consolidated revenues during the quarter under review also rose to Rs 3,080 crore from Rs 2,411 crore in the year-ago period, it added. "We announce a strong start to 2024, building on our robust performance from Q4 of 2023. The increased demand for technologically superior solutions, coupled with the government's capital expenditure focus on new-age themes such as energy efficiency, decarbonization, and digitalization, has significantly driven our order momentum," ABB India said. During the quarter, the company said it had an order backlog of Rs 8,932 crore, up from Rs 7,170 in January-March quarter earlier.

ABB forms strategic partnership with Titagarh for metro projects in India

The partnership covers an agreement for Titagarh to purchase ABB propulsion systems, including traction converters, auxiliary converters, traction motors and TCMS software

ABB to roll out electric powertrain system for ArcelorMittal Nippon Steel

Electrification and automation major ABB on Wednesday said it will roll out an electric powertrain system for ArcelorMittal Nippon Steel's new steel mill in Hazira. "ABB is partnering with SMS group to supply all the medium-voltage (MV) motors and MV drives for a new hot strip mill at Hazira, in Gujarat," an ABB statement said. ABB is working in partnership with SMS group -- a specialist in plant construction, mechanical and electric & automation engineering for the metals industry -- to provide all the MV motors and MV drives for ArcelorMittal Nippon Steel's new hot strip mill in India, it explained. The scope also includes a large number of low-voltage (LV) drives. The project at Hazira, an industrial hub in Gujarat, is part of a major expansion of the site, which is already India's fifth-largest producer of crude steel. When it becomes operational in 2025, the new mill will increase Hazira's production capacity by around 5.5 million tonne per year, the statement said. The hot .

ABB India's profit doubles to Rs 296 cr in June qtr due to higher revenue

ABB India's net profit more than doubled to Rs 296 crore in the June quarter of the current fiscal mainly due to higher revenues. The company reported a net profit of Rs 147 crore in the same quarter of the previous fisca, ABB India said in a statement. Total revenues of the company rose to Rs 2,509 crore in the quarter from Rs 2,053 crore in the same period a year ago. The company follows January to December fiscal year. Sanjeev Sharma, Managing Director, ABB India, said in the statement, "ABB India's Q2 (April-June) performance is testimony to the strength of its industry-leading portfolio and capabilities. We continued growth momentum during the quarter, built on strong order backlog execution, delivering highest ever quarterly operational EBITA." Our balance sheet and cash position remain robust, putting us in a strong footing to prepare for future opportunities, he added. Total orders for the quarter stood at Rs 3,044 crore and Rs 6,169 crore for the first half of 2023. Whi

ABB India to provide electrification, automation systems to AMNS India

ABB India on Friday said it will provide electrification and automation systems for ArcelorMittal Nippon Steel India's (AM/NS India) advanced steel cold rolling mill (CRM) in Hazira, Gujarat. The contract comes through John Cockerill India Limited (JCIL), the original equipment manufacturer (OEM) for the project, ABB India said in a regulatory filing. "ABB India is providing advanced electrification and automation systems, including the ABB Ability System 800xA distributed control system (DCS) and associated equipment and components, to support enhanced energy efficiency, optimised zinc consumption and high levels of corrosion resistance throughout the steel production process," it said. This will support AM/NS India in its bid to reach greater levels of sustainability at Hazira. The new CRM with advanced processing lines is due to be commissioned in 2024, the company said. "The new processing lines are designed to produce new-age value-added steel, embedding the most demanding ...

ABB to invest Rs 1,000 cr in India in next 5 years; new facility in Nashik

Electrification and automation company ABB India on Friday announced to invest Rs 1,000 crore in the country in the next five years. The company, which inaugurated a new facility in Nashik on Friday, will be investing the money in adding capacity across the country, its country head and managing director Sanjeev Sharma said here. According to him, ABB India is planning to invest Rs 1,000 crore in the next five years for capacity expansion. Its new factory spread across 78,000 sq ft will help double the Gas Insulated Switchgear (GIS) production capacity, a statement said. The new facility will manufacture primary and secondary GIS. It will serve the power distribution, smart cities, data centres, transport (metro, railways), tunnels, ports, highways and other infrastructure developments, it said. It deploys advanced robotics for manufacturing which connects people, processes, assets, and is capable of relaying real-time data for enhanced productivity. The company also launched an

ABB India net profit rises by 58% to Rs 306 crore in December quarter

ABB India on Friday posted a 58 per cent jump in its net profit at Rs 306 crore in the December quarter, mainly on the back of higher revenues. The company's net profit stood at Rs 194 crore in the year-ago period. For Q4 CY2022, the net profit was Rs 306 crore, up by 58 per cent year-on year, the company said in a statement. In the December quarter, total revenue rose to Rs 2,427 crore from Rs 2,101 crore a year ago. The company follows January to December calender as its financial year. For CY2022, the net profit almost doubled to Rs 1,026 crore from Rs 532 crore in CY2021, it said. The profit after tax for CY2022 includes an exceptional item of Rs 339 crore from the profit on the sale of the turbocharger business, it explained. It posted a revenue of Rs 8,568 crore for CY2022, the highest in the last five years. Its revenue was at Rs 6,934 crore in CY2021. ABB India achieved a significant milestone in order booking by reaching Rs 10,028 crore in CY2022 and Rs 2,335 crore for

Adani Power, Varun Beverages, ABB ripe for Nifty Next50 inclusion

Biocon, Gland Pharma, Mphasis and Bandhan Bank may move out, says note by Nuvama Alternative & Quantitative Research

Hitachi ABB Power Grids teams up with Ashok Leyland in e-bus pilot

Smart e-mobility is still at a nascent stage in India.

ABB Power open offer: What sparked it and why small shareholders are sore

ABB Power Products and Systems India is in the news due to a controversy over its open offer price. Here is an explainer on this issue:

Market Ahead, May 13: Top Factors That Could Guide Markets Today

Today, a total of 10 companies, including Maruti Suzuki India, MPhasis, and ABB are scheduled to announce their results

ABB India clocks PBT of Rs 113 crore in Q3 FY20 after reform measures

Q3 was also marked by orders for smart cities in Ranchi and the ancient city of Ujjain for smart power distribution equipment like compact substations and ring main units

Sustaining digitalisation orders crucial for ABB to boost its profitability

December quarter results echoed strength of continuing operations

ABB invests undisclosed sum in IIT-incubated startup through its VC fund

The recipient, Stellapps Technologies, offers end-to-end dairy supply chain solutions that are used by 750,000 farmers

ABB uncovers $100-mn South Korean fraud as suspect vanishes

The fraud is the second such disclosure this month

Switzerland's ABB hit by $100 million South Korean fraud

It employs around 800 people in South Korea and generated sales of $525 mn in 2015

ABB wins $640 million grid contract from Power Grid Corp

The system will have the capacity to supply electricity to 80 million people, says ABB

ABB rallies 15% on Rs 4,350 crore mega deal

The company won Rs 4,350 crore mega deal for long distance power transmission link in India

We are well positioned for a clean energy future in India: ABB India MD & CEO

Renewables contribution to the company's order book has increased from 2% in 2014 to 15% in 2015