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ABB's Power Grids business announces listing of Indian arm on BSE and NSE

Posted On: 2020-03-30 12:19:13


The Indian arm of ABB's Power Grids business, a global leader in power technologies, formally announced its listing on the BSE Limited (formerly known as Bombay Stock Exchange) and the National Stock Exchange of India Limited on March 30, 2020, as ABB Power Products and Systems India Limited. The company had demerged from ABB India Ltd. with effect from December 1, 2020, to become a standalone legal entity.

"This is a key milestone for us," said N. Venu, Country Managing Director of ABB Power Grids in India. "We have been active in India for over six decades, serving the country as well as global markets. We have an extensive country-wide presence with around 4,500 dedicated employees across five manufacturing sites, 12 branch offices and R&D center on the subcontinent, and our listing on the Indian stock exchanges is a sign of our commitment to continue delivering value for our customers and shareholders. We have made a major contribution in supporting India's power infrastructure development and remain committed to shaping the future of sustainable energy, with pioneering technologies, as the partner of choice for enabling a stronger, smarter and greener grid."

For the period of April to December 2019, the business had a total revenue of Rs. 3,231 crore, with a profit before exceptional items and tax of Rs. 261 crore (PBT at Rs.221 crore).

ABB Power Products and Systems India Limited is the standalone legal entity of ABB's Power Grids business in India.


Source: Equity Bulls

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