Hitachi ABB Power Grids India records 57 per cent order inflow growth
- November 11, 2020
Despite restricted business activity and mobility, the order inflow of Hitachi ABB Power Grids in India recorded a 57 per cent quarter-on-quarter growth in the July-September quarter of 2020, a company release said.
The order inflow during the period was Rs.890.20 crore as against Rs.567.30 crore in the immediately preceding quarter of March-June 2020.
As of September 30, 2020, order backlog was Rs.5,175 crore, providing visibility of future revenue, the release noted.
Hitachi ABB Power Grids India operates under the legal entity ABB Power Products & Systems India Ltd.
Major order wins from utilities and industry sector customers were recorded amidst tight economic conditions. The business attributes these to a multi-pronged customer engagement and product and service delivery strategy. The business has also accelerated the use of digital technologies across its operations, such as remote factory acceptance tests, virtual training sessions and technical webinars, which have enabled its performance, the release said.
According to N Venu, Managing Director, Hitachi ABB Power Grids in India, “As the market regains its footing, our solid order backlog will ensure continuity in the new norm. Our resilience in this unusal period has helped us to achieve higher revenue and order growth.”
Major orders
During the July-September quarter of 2020, Hitachi ABB Power Grids won a large substation order from HPCL Rajasthan Refinery to power their new refinery and petrochemical project in Rajasthan. The business also booked an automation order for renewable energy monitoring from a national utility. Another notable win included a transformer order for the Virudhunagar substation (Tamil Nadu) feeding industrial and other regions.
Exports
Exports in the July-September quarter of 2020 rose 36 per cent quarter-on-quarter with orders coming from the Indian sub-continent, Africa and Australia. Hitachi ABB Power Grids in India booked a major order for transformers relating to a metro rail systems project in Perth and another for high-voltage capacitors for an oil refinery in Nigeria. Service orders doubled QoQ, comprising one of the biggest ever high-voltage service order wins for Hitachi ABB Power Grids in India, for the extension of a 400kV gas-insulated substation.
