Standalone net sales (including other operating income) of ABB India for the quarter ended Sep 2024 has increased 5.16% to Rs 2,912.16 crore. Operating profit margin has jumped from 15.84% to 18.55%, leading to 23.19% rise in operating profit to Rs 540.22 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 53.44% to 47.40%. Purchase of finished goods cost fell from 8.12% to 7.98%. Employee cost increased from 6.30% to 6.81%. Other expenses rose from 16.60% to 19.69%. Contract job process charges fell from 2.41% to 2.24%. Other income up 20.92% to Rs 92.89 crore. PBIDT rose 22.85% to Rs 633.11 crore. Provision for interest up 240.91% to Rs 3 crore. PBDT rose 22.48% to Rs 630.11 crore. Provision for depreciation rose 8.39% to Rs 32.83 crore. Profit before tax grew 23.36% to Rs 597.28 crore. Provision for tax was expense of Rs 156.81 crore, compared to Rs 122.18 crore. Effective tax rate was 26.25% compared to 25.23%. Profit after tax rose 21.68% to Rs 440.47 crore. - Sales of Robotic & Discrete Automation segment has gone down 5.92% to Rs 111.30 crore (accounting for 3.78% of total sales). Sales of Motion segment has gone up 10.04% to Rs 1,079.46 crore (accounting for 36.65% of total sales). Sales of Electrification segment rose 10.75% to Rs 1,153.98 crore (accounting for 39.18% of total sales). Sales of Industrial Automation segment has gone down 11.74% to Rs 596.29 crore (accounting for 20.24% of total sales). Sales of Others segment has gone up 90.57% to Rs 4.65 crore (accounting for 0.16% of total sales). Inter-segment sales came down from Rs 50.17 crore to Rs 33.52 crore.
- Profit before interest, tax and other unallocable items (PBIT) has jumped 22.90% to Rs 620.14 crore. PBIT of Robotic & Discrete Automation segment rose 15.25% to Rs 16.32 crore (accounting for 2.63% of total PBIT). PBIT of Motion segment rose 31.47% to Rs 249.60 crore (accounting for 40.25% of total PBIT). PBIT of Electrification segment rose 19.18% to Rs 239.72 crore (accounting for 38.66% of total PBIT). PBIT of Industrial Automation segment rose 16.52% to Rs 114.52 crore (accounting for 18.47% of total PBIT). PBIT of Power Grid reported loss of Rs 0.02 crore compared to profit of Rs 1.17 crore.
- PBIT margin of Robotic & Discrete Automation segment rose from 11.97% to 14.66%. PBIT margin of Motion segment rose from 19.35% to 23.12%. PBIT margin of Electrification segment rose from 19.30% to 20.77%. PBIT margin of Industrial Automation segment rose from 14.55% to 19.21%. Overall PBIT margin rose from 17.90% to 21.05%.
For year-to-date (YTD) results analysis
Net sales (including other operating income) of ABB India has increased 14.75% to Rs 8,823.38 crore. Sales of Robotic & Discrete Automation segment has gone down 1.18% to Rs 304.71 crore (accounting for 3.38% of total sales). Sales of Motion segment has gone up 10.37% to Rs 3,168.09 crore (accounting for 35.16% of total sales). Sales of Electrification segment rose 17.21% to Rs 3,571.60 crore (accounting for 39.63% of total sales). Sales of Industrial Automation segment has gone up 21.79% to Rs 1,955.29 crore (accounting for 21.70% of total sales). Sales of Others segment has gone up 20.73% to Rs 11.59 crore (accounting for 0.13% of total sales). Inter-segment sales rose Rs 151.85 crore to Rs 187.90 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 54.27% to Rs 1,902.91 crore. PBIT of Robotic & Discrete Automation segment rose 12.81% to Rs 45.44 crore (accounting for 2.39% of total PBIT). PBIT of Motion segment rose 62.65% to Rs 714.92 crore (accounting for 37.57% of total PBIT). PBIT of Electrification segment rose 44.15% to Rs 806.92 crore (accounting for 42.40% of total PBIT). PBIT of Industrial Automation segment rose 72.74% to Rs 334.92 crore (accounting for 17.60% of total PBIT). PBIT margin of Robotic & Discrete Automation segment rose from 13.06% to 14.91%. PBIT margin of Motion segment rose from 15.31% to 22.57%. PBIT margin of Electrification segment rose from 18.37% to 22.59%. PBIT margin of Industrial Automation segment rose from 12.08% to 17.13%. Overall PBIT margin rose from 15.73% to 21.12%. Operating profit margin has jumped from 13.95% to 18.68%, leading to 53.64% rise in operating profit to Rs 1,647.89 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 53.10% to 47.66%. Purchase of finished goods cost rose from 8.08% to 8.24%. Employee cost increased from 6.89% to 6.99%. Other expenses rose from 18.08% to 18.73%. Contract job process charges rose from 2.55% to 2.67%. Other income up 19.05% to Rs 266.78 crore. PBIDT rose 47.66% to Rs 1914.67 crore. Provision for interest up 151.56% to Rs 11.32 crore. PBDT rose 47.30% to Rs 1903.35 crore. Provision for depreciation rose 9.45% to Rs 95.22 crore. Profit before tax grew 50.03% to Rs 1,808.13 crore. Provision for tax was expense of Rs 465.43 crore, compared to Rs 302.18 crore. Effective tax rate was 25.74% compared to 25.07%.Profit after tax rose 48.70% to Rs 1,342.70 crore.
Order book
Order intake in quarter and nine-month ended Sep 2024 was Rs 3342 crore (up from 3,004 in QE Sep 2023) and Rs 10,384 crore (up from 9,172 crore in 9mE Sep 2023). Order backlog as end of Sep 2024 stood at Rs 9,995 crore (against Rs 8,008 crore in period ended Sep 2023). Management Comments :Commenting on the company’s performance, Sanjeev Sharma, Managing Director, ABB India said, “We have delivered another quarter of consistent performance, creating balanced and profitable growth for our stakeholders and deepening engagement with our customers. The quarter was marked by record levels of backlog complemented by a strong book to bill and cash. We are thankful to our customers and proud of our teams. In line with our goal to achieve sustainable growth taking a longer-term view of the market, our order basket comprised an optimal combination of long and short cycle orders as has been the trend for the current and past few quarters. The large orders, a marker of economic robustness led by government led capex revival, emerged from diverse sectors like transportation, metals, and even new ones like the data centers. This provides each division the flexibility to leverage opportunities as per their business cycles and bandwidth and entails revenue conversion from a vibrant and varied basket of orders and timeframes. Our non-financial parameters continued their positive trajectory as the quarter was marked by multiple certifications and milestone completion in our endeavors on emission control and recognition from relevant external organizations.” Promoters’ stake was 75.00% as of 30 September 2024 ,compared to 75.00% as of 30 September 2023 . Promoters’ stake was 75.00% as of 30 September 2024 ,compared to 75.00% as of 30 June 2024 . ABB India : Standalone Results | | Quarter ended | Year to Date | Year ended |
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Particulars | 202409 | 202309 | Var.(%) | 202409 | 202309 | Var.(%) | 202312 | 202212 | Var.(%) |
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Net Sales (including other operating income) | 2,912.16 | 2,769.19 | 5.16 | 8,823.38 | 7,689.03 | 14.75 | 10,446.52 | 8,567.53 | 21.93 | OPM (%) | 18.55 | 15.84 | 271 bps | 18.68 | 13.95 | 473 bps | 14.26 | 11.23 | 303 bps | OP | 540.22 | 438.53 | 23.19 | 1,647.89 | 1,072.56 | 53.64 | 1,489.78 | 961.87 | 54.88 | Other Inc. | 92.89 | 76.82 | 20.92 | 266.78 | 224.10 | 19.05 | 301.69 | 179.47 | 68.10 | PBIDT | 633.11 | 515.35 | 22.85 | 1,914.67 | 1,296.66 | 47.66 | 1,791.47 | 1,141.34 | 56.96 | Interest | 3 | 0.88 | 240.91 | 11.32 | 4.5 | 151.56 | 12.66 | 13.11 | -3.43 | PBDT | 630.11 | 514.47 | 22.48 | 1,903.35 | 1,292.16 | 47.30 | 1,778.81 | 1,128.23 | 57.66 | Depreciation | 32.83 | 30.29 | 8.39 | 95.22 | 87 | 9.45 | 119.92 | 104.7 | 14.54 | PBT | 597.28 | 484.18 | 23.36 | 1808.13 | 1205.16 | 50.03 | 1658.89 | 1023.53 | 62.08 | PBT before EO | 597.28 | 484.18 | 23.36 | 1808.13 | 1205.16 | 50.03 | 1658.89 | 1023.53 | 62.08 | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 339.26 | - | PBT after EO | 597.28 | 484.18 | 23.36 | 1808.13 | 1205.16 | 50.03 | 1658.89 | 1362.79 | 21.73 | Taxation | 156.81 | 122.18 | 28.34 | 465.43 | 302.18 | 54.02 | 410.71 | 337.18 | 21.81 | PAT | 440.47 | 362 | 21.68 | 1342.7 | 902.98 | 48.70 | 1248.18 | 1025.61 | 21.70 | P/(L) from discontinued operations net of tax | -0.02 | 0.87 | PL | 0.53 | 0.41 | 29.27 | -6.13 | -9.38 | 34.65 | Net profit after discontinued operations | 440.45 | 362.87 | 21.38 | 1343.23 | 903.39 | 48.69 | 1242.05 | 1016.23 | 22.22 | EPS (Rs)* | 20.79 | 17.08 | 21.68 | 63.36 | 42.61 | 48.70 | 58.90 | 36.35 | 62.04 | | * EPS is on current equity of Rs 42.38 crore, Face value of Rs 2, Excluding extraordinary items. | # EPS is not annualised | bps : Basis points | EO : Extraordinary items | Figures in Rs crore | Source: Capitaline Corporate Database |
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ABB India : Standalone Segment Results | | Quarter ended | Year to Date | Year ended |
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| % of (Total) | 202409 | 202309 | Var.(%) | % of (Total) | 202409 | 202309 | Var.(%) | % of (Total) | 202312 | 202212 | Var.(%) |
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Sales | Robotic & Discrete Automation | 3.78 | 111.30 | 118.30 | -5.92 | 3.38 | 304.71 | 308.35 | -1.18 | 3.92 | 416.05 | 233.28 | 78.35 | Motion | 36.65 | 1,079.46 | 980.97 | 10.04 | 35.16 | 3,168.09 | 2,870.47 | 10.37 | 35.62 | 3,785.06 | 3,367.07 | 12.41 | Electrification | 39.18 | 1,153.98 | 1,042.01 | 10.75 | 39.63 | 3,571.60 | 3,047.06 | 17.21 | 39.31 | 4,177.22 | 3,529.71 | 18.34 | Industrial Automation | 20.24 | 596.29 | 675.64 | -11.74 | 21.70 | 1,955.29 | 1,605.40 | 21.79 | 21.04 | 2,236.13 | 1,573.17 | 42.14 | Others | 0.16 | 4.65 | 2.44 | 90.57 | 0.13 | 11.59 | 9.60 | 20.73 | 0.12 | 12.48 | 29.00 | -56.97 | Power Grid | 0.00 | 0.00 | 0.00 | - | Total Reported Sales | 100.00 | 2,945.68 | 2,819.36 | 4.48 | 100.00 | 9,011.28 | 7,840.88 | 14.93 | 100.00 | 10,626.94 | 8,732.23 | 21.70 | Less: Inter segment revenues | | 33.52 | 50.17 | -33.19 | | 187.90 | 151.85 | 23.74 | | 180.42 | 164.70 | 9.54 | Net Sales | 100.00 | 2,912.16 | 2,769.19 | 5.16 | 100.00 | 8,823.38 | 7,689.03 | 14.75 | 100.00 | 10,446.52 | 8,567.53 | 21.93 | PBIT | Robotic & Discrete Automation | 2.63 | 16.32 | 14.16 | 15.25 | 2.39 | 45.44 | 40.28 | 12.81 | 3.12 | 52.95 | 29.29 | 80.78 | Motion | 40.25 | 249.60 | 189.85 | 31.47 | 37.57 | 714.92 | 439.54 | 62.65 | 35.47 | 601.44 | 412.48 | 45.81 | Electrification | 38.66 | 239.72 | 201.14 | 19.18 | 42.40 | 806.92 | 559.78 | 44.15 | 45.68 | 774.55 | 487.80 | 58.78 | Industrial Automation | 18.47 | 114.52 | 98.28 | 16.52 | 17.60 | 334.92 | 193.89 | 72.74 | 16.21 | 274.91 | 200.65 | 37.01 | Others | 0.00 | 0.00 | 0.00 | - | Power Grid | 0.00 | -0.02 | 1.17 | PL | -0.48 | -8.19 | -12.53 | 34.64 | Total PBIT | 100.00 | 620.14 | 504.60 | 22.90 | 100.00 | 1,902.91 | 1,233.49 | 54.27 | 100.00 | 1,695.66 | 1,117.69 | 51.71 | Less : Interest | | 3.00 | 0.88 | 240.91 | | 11.32 | 4.50 | 151.56 | | 12.66 | 13.11 | -3.43 | Add: Other un-allcoable | | -19.88 | -18.37 | -8.22 | | -82.75 | -23.83 | -247.25 | | -32.30 | 245.68 | PL | PBIT Margin(%) | Robotic & Discrete Automation | | 14.66 | 11.97 | 269.35 | | 14.91 | 13.06 | 184.95 | | 12.73 | 12.56 | 17.11 | Motion | | 23.12 | 19.35 | 376.94 | | 22.57 | 15.31 | 725.38 | | 15.89 | 12.25 | 363.94 | Electrification | | 20.77 | 19.30 | 147.02 | | 22.59 | 18.37 | 422.15 | | 18.54 | 13.82 | 472.24 | Industrial Automation | | 19.21 | 14.55 | 465.92 | | 17.13 | 12.08 | 505.16 | | 12.29 | 12.75 | -46.05 | Others | | 0.00 | 0.00 | 0.00 | Power Grid | | 0.00 | 0.00 | 0.00 | PBT | 100.00 | 597.26 | 485.35 | 23.06 | 100.00 | 1,808.84 | 1,205.16 | 50.09 | 100.00 | 1,650.70 | 1,350.26 | 22.25 |
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