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.