ABB India Q3 Results Review - Changing Mix Of Order Book Hurts The Quarter; Reiterate 'Buy': Motilal Oswal

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.ABB India Ltd.’s Q3 CY24 performance was below our expectations due to lower-than-expected order inflows and execution. The quarter was hit by the changing mix of order book towards a higher share of long-gestation, large-sized orders. Margin performance, though, remained strong YoY, with improved pricing and lower raw material costs. We expect the near-term execution velocity to be affected by slower-than-expected growth in order inflows and a shift of order book towards longer-gestation projects. However, with higher value-added content in large-sized order inflows, we expect margin performance to remain healthy. Order inflow growth across segments, except Electrification, was hit by decision delays from the private sector and high base in select segments. We cut our estimates by 9%/10%/11% for CY24E/CY25E/ CY26E to factor in 9M CY24 performance and the near-term impact on execution due to the longer execution cycle of orders. Our revised target price stands at Rs 8,500 (versus Rs 9,500 earlier), implying 72 times P/E on Dec’26E EPS. We continue to maintain our positive stance on ABB based on its ability to benefit from the high growth segments with its wide offerings and deeper penetration network. Reiterate Buy..Click on the attachment to read the full report:.Titan Q2 Results Review - Margins Under Pressure; Downgrade To 'Sell': Dolat Capital.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ABB India Q3 Results Review - Changing Mix Of Order Book Hurts The Quarter; Reiterate 'Buy': Motilal Oswal

The brokerage continues to maintain its positive stance on the company based on its ability to benefit from the high growth segments with its wide offerings and deeper penetration network.

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ABB India Q3 Results Review - Changing Mix Of Order Book Hurts The Quarter; Reiterate 'Buy': Motilal Oswal

The brokerage continues to maintain its positive stance on the company based on its ability to benefit from the high growth segments with its wide offerings and deeper penetration network.

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