ABB India Ltd. share price target

Gradual path to progress but consistency is the key Well placed to gain from the overall energy market transformation from electrification to automation & digitisation Q4CY25 performance: ABB India Limited reported Q4CY25 and full-year CY25 results with strong order acceleration but margin pressure persisting. In Q4CY25, revenue grew 6% YoY to 3,557 crore. However, profitability moderated with EBITDA declining ~17% YoY to 546 crore and PAT falling ~18% YoY to 434 crore. EBITDA margin contracted to 15.3% (420 bps YoY approx.) while PAT margin stood at 12.2%...

ABB’s 4QCY25 reported PAT came ahead of our estimates. The positive surprise was 52% YoY growth in order inflows, with 27% YoY growth in base inflows and large order inflows.

We downgrade ABB India to REDUCE from Add, while increasing our TP by ~6% to Rs5,600 from Rs5,300. Q4CY25 results were broadly in line with our estimates, supported by steady execution across segments.

ABB’s results for the quarter were ahead of our estimates, as the surprise came from better-than-expected EBITDA margins at 17.2% after adjusting the amount related to labor code in exceptional items.

ABB’s 3QCY25 performance was in line with our estimates. The company remains affected by lower ordering as well as margin pressure due to Quality Control Order (QCO) implementation, higher RM costs, and increased competition.

*over or under performance to benchmark index ABB India Ltd manufactures heavy engineering and industrial equipment and executes engineering, procurement and construction (EPC) projects. It operates through the...

ABB India (ABB) reported disappointing numbers in Q2CY25 on both ordering and financial fronts. While the orderbook (OB) was healthy at INR 100.6bn as of Jun’25 (book-to-bill of 0.8), order inflow (OI) fell 12% YoY.

ABB India’s 2QCY25 results were lower than our estimates as margins contracted significantly owing to forex fluctuations, quality control order (QCO) implementation and competitive pricing.

We cut our EPS estimates for CY25/CY26 by -16.3%/-14.2% and downgrade the stock from BUY' to Accumulate' factoring in near term challenges such as higher import content in raw material and delays in larger orders. ABB India (ABB) reported a revenue growth of 12.2% YoY while EBITDA margin contracted by 612bps YoY to 13.0% . Management attributed the delays in large orders to slower customer decision-making, with a recovery expected in H2CY25. Meanwhile, base order inquiries remain strong, driven by continued traction in data centers, electronics, and renewables. Despite healthy...

Domestic/export revenue mix stood at 93%/7% vs (92%/8% in Q1CY24). We revised our EPS estimates for CY25/CY26 by -1.5%/-1.5% factoring in executing delays in Process Automation. ABB India (ABB) reported quarterly performance with modest revenue growth of 2.6% YoY with flattish EBITDA margin of 18.4%. During the quarter, the growth was led by strong momentum across all segments except in Process automation which was impacted by a change in delivery schedule. Order book pipeline remains robust seeing strong...

ABB India’s 1QCY25 results were lower than our estimates. Revenue/EBITDA/PAT growth of 3% each YoY for the quarter was impacted by softer execution, particularly in the process automation segment.

ABB, in its annual report, highlighted its focus on high-growth segments and deeper penetration into Tier 2 cities, along with new product development. During the year, the company continued to benefit from demand for premium products and increased penetration into Tier 2 and Tier 3 cities.

Domestic/export revenue mix stood at 89%/11% vs (90%/10% in Q4CY23). normalization and transient base order moderation but upgrade the rating to sustained growth momentum. ABB India (ABB) reported strong quarterly performance with revenue growing 22.0% YoY and EBITDA margin expanding by 440bps YoY to 19.5%. During the quarter, the growth was led by strong...

ABB India (ABB) reported a strong Q4CY24 result with revenue of INR 33.7bn (+22% YoY), EBITDA of INR 6.6bn (+58% YoY) and PAT of INR 5.3bn (+54% YoY). EBITDA margin continued its uptrend to 19.5% for the quarter (+440bps YoY).

ABB India (ABB) reported muted revenue of INR 29bn, +5% YoY compared to double-digit growth reported in last 14 quarters. Note that revenues grew by 19%, 24%, 22% and 20% in CY21, CY22, CY23 and H1CY24 respectively.

ABB India (ABB)’s 3QCY24 performance was below our expectations due to lower-than-expected order inflows and execution.