ABB India Ltd Q1CY21 PAT rises to Rs. 141.33 crore

ABB India Limited has reported financial results for the period ended March 31, 2021.

Financial Results (Q1 CY2021) - QoQ Comparison

The company has reported total income of Rs.1654.41 crores during the period ended March 31, 2021 (Q1 CY2021) as compared to Rs.1715.13 crores during the period ended December 31, 2020 (Q4 CY2020).

The company has posted net profit of Rs.141.33 crores for the period ended March 31, 2021 as against Rs.57.56 crores for the period ended December 31, 2020.

The company has reported EPS of Rs.6.67 for the period ended March 31, 2021 as compared to Rs.2.72 for the period ended December 31, 2020.

Financials	Q1 CY2021	Q4 CY2020	% Change
Total Income	₹ 1654.41 crs	₹ 1715.13 crs	-3.54%
Net Profit	₹ 141.33 crs	₹ 57.56 crs	145.54%
EPS	₹ 6.67	₹ 2.72	145.22%

Financial Results (Q1 CY2021) - YoY Comparison

The company has reported total income of Rs.1654.41 crores during the period ended March 31, 2021 (Q1 CY2021) as compared to Rs.1568.02 crores during the period ended March 31, 2019 (Q1 CY2020).

The company has posted net profit of Rs.141.33 crores for the period ended March 31, 2021 as against Rs.64.64 crores for the period ended March 31, 2019.

The company has reported EPS of Rs.6.67 for the period ended March 31, 2021 as compared to Rs.3.05 for the period ended March 31, 2019.

Financials	Q1 CY2021	Q1 CY2020	% Change
Total Income	₹ 1654.41 crs	₹ 1568.02 crs	5.51%
Net Profit	₹ 141.33 crs	₹ 64.64 crs	118.64%
EPS	₹ 6.67	₹ 3.05	118.69%

"The first three months of the year continued to be impacted by the effects of the COVID-19 pandemic and the subsequent supply & demand disruptions across several market segments. At ABB India we continue to keep our employees', contractors', suppliers' and customers' health and safety as our highest priority. With a stable and growing order backlog, robust cash reserves, cost optimization initiatives and business continuity plans, we believe that we are reasonably positioned to deliver on our ambitious goals while managing renewed market uncertainty. As a highlight, during the past quarter, we have secured several orders in high-growth segments such as robotics and automation solutions for the world's largest scooter factory located in India. Overall, ABB India has recorded a significant sequential order increase with improvements across all our divisions," said Sanjeev Sharma, Managing Director, ABB India.

Total orders at INR 1,825 crore for the quarter reflect the company's continuous journey of improvement on a sequential basis, representing growth of 24% over Q4 2020, while being lower by 7% Y-o-Y owing to a large order previous year. ABB India's deep customer relations, 'Made in India', end to end solutions, combined with its global portfolio and experience resulted in a spectrum of orders across targeted market segments. During the quarter, Robotics and Discrete Automation, and Process Automation business areas both posted solid growth by converting the available opportunities. Robotics secured significant wins during the quarter, which will strengthen the installed base and leverage our expanded operational capacity. Investment decisions by the customers belonging to core sectors, i.e., metals & mining, which were earlier held back as a result of the market uncertainty and enhancement of channel business in process industries, led to order growth in Process Automation.

The company's cash position continues to remain robust at INR 2,528 crore at the end of Q1 2021 vis-a-vis INR 1,464 crore in Q1 2020.

Shares of ABB India Limited was last trading in BSE at Rs.1384.8 as compared to the previous close of Rs. 1366.85. The total number of shares traded during the day was 8329 in over 1028 trades.

The stock hit an intraday high of Rs. 1401 and intraday low of 1366.3. The net turnover during the day was Rs. 11570633.

Source : Equity Bulls

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