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Revenue
₹2,800 Cr
verification pending
Revenue YoY
13%
reported change
EBITDA
Pending
latest reported figure
Source
manual review required
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
ABB India delivered a strong Q2 CY2024 with 13% YoY revenue growth to INR 2,800 crore and order inflow up 13% to INR 3,400 crore. EBITDA margin expanded to 19%, while PBT margin reached 21%, aided by favorable revenue mix, operational efficiencies, and stable commodity costs. The order backlog grew 23% YoY to INR 9,500 crore, providing good revenue visibility. Management highlighted broad-based demand across segments, with particular strength in data centers, railways, and energy transition. Exports grew 39% YoY. Guidance remains positive, with expectations of sustained momentum driven by India's capex cycle and localization efforts. Key risk: potential normalization of margin tailwinds from commodity price stability and order book pricing advantages.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects continued strong demand across segments, supported by India's capex cycle and government stability post-elections.
- A new plant in Bangalore will expand capacity for process automation and motion businesses, with incremental expansions across other locations.
- CFO indicated that benefits from stable/falling commodity costs between order booking and execution will reduce going forward.
Risks flagged
- Base orders were flat in Q2, impacted by election and budget-related delays; recovery depends on post-election momentum.
- CFO noted that the advantage from stable commodity prices and order book pricing will thin, potentially compressing margins.
- Revenue was INR 200 crore lower than potential due to alignment with customer project schedules and election-related delays.
- While ABB enjoys pricing power, competitors may catch up as the market matures, pressuring margins.
Key quotes
- We are in a position where we could take leverage of the investment climate, which is developing in front of us.
- The results that we are getting now for the last few quarters, they are not made recently. They are in making for last 4, 5 years.
- I see India is almost lagging 20-25 years where China was, say, 20-25 years ago. And we still have another 5-10 years ahead of us.
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