ABB India Ltd.Record Backlog & Q4 Recovery Momentum

ABB India Ltd. delivered strong performance with record-high orders of ₹14,115 crore, up 8% year-on-year, and revenue of ₹13,203 crore, representing 8% growth and a five-year CAGR of 17%.

The company achieved a record PAT of ₹1,669 crore with strong capital efficiency reflected in 21% ROCE. Q4 witnessed significant recovery momentum with 52% order growth and 27% base business growth, driven by transport, infrastructure, renewables, and data centers. The order backlog reached an all-time high of ₹10,471 crore, growing 12% with a five-year CAGR of 21%, providing robust revenue visibility. Management maintains PAT margin guidance of 12-15% despite near-term margin pressure from elevated material costs at 61% versus historical 58%, primarily due to strategic QCO compliance inventory and forex impacts.

Electrification segment led growth with 43% order expansion, while process automation showed recovery signs with improving power generation pipeline. Data centers now represent 10-11% of backlog, emerging as a significant growth driver alongside core industry green shoots.