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Revenue
₹3,365 Cr
verified against source
Revenue YoY
14%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
ABB India reported a 14% YoY revenue growth in Q3 CY2025, driven by 13% base order growth across electrification and motion segments. However, PAT declined 7% YoY due to margin compression from unfavorable mix, intensified competition, QCO-related import costs, and forex volatility. Management noted that QCO impact may persist for 3-4 quarters. Order backlog stands at INR 9,895 crores, providing near-term revenue visibility. While base orders remain healthy, large order finalizations are delayed amid geopolitical uncertainty and cautious CapEx. The company expects a gradual recovery in investment cycles, but near-term margin pressure is likely to continue. Key risk: prolonged QCO disruptions and potential Chinese import competition could further compress margins.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects the QCO certification bottleneck to last another 3-4 quarters, during which higher import costs will continue to pressure margins.
- ABB India aims to maintain double-digit revenue growth trajectory, supported by base order momentum and backlog execution.
- Management is actively pursuing bolt-on M&A opportunities in India to complement existing portfolio and capture emerging segments.
Risks flagged
- Mandatory BIS certification for locally manufactured products is causing supply disruptions and forcing imports, increasing costs and forex exposure.
- Intensified competition and unfavorable revenue mix have reduced pricing power, with electrification margins down ~3% vs. prior levels.
- Potential thaw in India-China relations could lead to increased Chinese imports, impacting pricing and demand for domestic manufacturers.
- Large project decisions are being deferred due to geopolitical uncertainty and cautious CapEx, slowing order book growth.
Key quotes
- We had a clear advantage of 1%-1.5% in which we used to claim a price minimum, which is no more, which is not there at this point of time.
- The government keeps moving these particular dates... There is no definite saying that it will close at this date, come what may.
- We will follow the due process of evaluating it. After the valuations are done, like we have done in the past, and the local board is satisfied, based on that valuation, separation of this asset will be done into a new company.
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