ABB India

ABB India reported a mixed Q1 FY26. Orders surged 25% YoYCurrent 25% YoY. Reported change: +25% YoY. to a strong level, driven by data centers and railways, with order backlog reaching INR 11,000 croreCurrent INR 11,000 crore. Reported change: +25% YoY.. However, revenue grew only 6% YoY to INR 3,184 croreCurrent 6% vs previous available quarter 14%., impacted by last-minute West Asia crisis disruptions. Profitability was squeezed by higher material costs (commodity inflation, rupee depreciation) and competitive intensity, with electrification margins falling from 21.4% to 13.2%. Management highlighted robust demand across core and emerging sectors but noted near-term headwinds from global uncertainty. Guidance remains qualitative: they expect volume growth to offset cost pressures but flagged that pricing power is limited. Key risk: sustained commodity inflation and forex volatility could further compress margins if price hikes lag.