ABB India has posted 50 per cent jump in its net profit to Rs. 1,875 crore as against Rs. 1,248 crore in CY23. The company has registered revenues of Rs. 12,188 crore in CY24 as compared to Rs. 10,447 crore in CY23. During the year, the company reported highest ever orders of Rs. 13,079 crore with large order registering 20 per cent YoY growth. Supplier sustainability received a big boost with 33% increase in supplier ESG awareness, training and handholding on initiatives, the company said in its release.

For Q4 24, ABB India has posted PAT of Rs. 532 crore compared to Rs. 345 crore in Q4 CY23. Revenues in Q4 CY24 stood at Rs. 3,365 crore as compared to Rs. 2,757 crore in Q4 CY23.

Commenting on the company’s performance, Sanjeev Sharma, Managing Director, ABB India said, “2024 has been another year of record high orders, revenue, and margins. This year, ABB India celebrates 75 years of manufacturing and Innovation in India, with an exhaustive production footprint, deep customer installed base and solid local supply chain. We continue to bring the best of global technology with local engineering and manufacturing for our customers and partners.

“I am proud of the ABB India team who have consistently delivered between 16% and 20% CAGR of top and bottom-line growth for the last five years through multiple capex cycles and geopolitical shifts. Our relentless customer centricity enables us to grow alongside our partners. We follow “local for local” strategy with a diversified portfolio deployed in multiple, diversified customer segments. We stay prepared to navigate pockets of opportunities as they arise in India’s vibrant and broadening market base. Our growth areas are well balanced between core segments that follow capex cycles, emerging segments growing rapidly on a smaller base and steady growth segments to deliver consistent performance.

“Sustainability in practice remains our focus in what we do to conserve resources in each dimension of our operation – a significant percentage of our supplier partners are committing to their green journeys as a force multiplier. We have always taken a longer-term view on our operations and how we serve our customers in India, and our commitment to innovation, resilience, and strategic partnerships remains unwavering. We will continue to navigate opportunities and challenges with agility and foresight led by a good leadership team across divisions, ensuring sustainable growth and value creation for all our stakeholders."

Orders

Total orders for the fourth quarter CY2024 was at Rs. 2,695 crore and for CY2024 at Rs. 13,079 crore. Base orders for the quarter grew by 4% while total orders were down due to the impact of a large order in both the Motion and Process Automation business areas in Q4 CY2023. For the fourth quarter, Process Automation experienced an uptick led by metals while Robotics & Discrete Automation posted a quantum leap in order growth as compared to the same period in CY2023.

Uptrend in orders for the quarter came from segments like metals and mining, energy and chemicals, buildings and infrastructure, food and beverage, electronics, and renewables.

For CY2024, large orders were up 20% and total orders by 5% driven by growth in segments like data centers and railways, in addition to the segments mentioned above for the fourth quarter.