ABB India Q4 Review - Muted Results; Strong Order Booking: HDFC Securities

"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..HDFC Securities Institutional Equities.ABB India Ltd. reported muted Q4 CY23 revenue/Ebitda/profit after tax at Rs 27.6/4.2/3.4 billion, missing our estimates by 11/13/13%. The company achieved strong Q4 CY23/CY23 order inflow at Rs 31.5/123.2 billion (+35%/+23% YoY), taking the backlog to Rs 84 billion. Base Q4 CY23 order inflows remained stable and large traction converter order aided growth. ABB has seen a large order share moving from 8% to 15% in CY23 and future growth is expected to be driven by this. Given the Rs 31 billion/quarter inflow in CY23, growth for CY24 on a higher base looks challenging, but large orders will be the key drivers. ABB is addressing this by expanding its product portfolio, reaching tier II/III cities through its online marketplace and focusing on services and exports. Brand premiumisation is helping achieve better pricing and margins. We have recalibrated our estimates to factor in likely muted H1 CY24 ordering. We maintain 'Add' with a target price of Rs 5,487/share (rolled over to 65 times March-26 earnings per share)..Click on the attachment to read the full report:.ABB Shares At All-Time High With Brokerages Upbeat On Earnings Momentum.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 Q4 Review - Muted Results; Strong Order Booking: HDFC Securities

ABB has seen a large order share moving from 8% to 15% in CY23 and future growth is expected to be driven by this.

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ABB India Q4 Review - Muted Results; Strong Order Booking: HDFC Securities

ABB has seen a large order share moving from 8% to 15% in CY23 and future growth is expected to be driven by this.

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