Poised for a long growth runway

Company
13 May 2024
5 Min read 
  • ABB India's 1QCY24 results exceeded estimates, driven by margin improvement.
  •  Revenue was in line with estimates at INR30.8b, driven by Electrification, Process Automation, and Robotics & Motion.
  •  EBITDA margin at an all-time high of 18.3%, ahead of estimates.
  •  Order inflow at INR36.1b jumped 15% YoY, with the order book at INR89.3b (+25% YoY).
  •  Margin improvement is progressing well, with segmental margins surpassing those of the parent entity.
  •  ABB is trading at 64.2x/55.6x P/E on CY25/CY26 estimates, with a revised TP of INR8,500.
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