ABB India witnessed new order inflow of Rs.2,474 crore during the second quarter (April to June) of 2018 that was 7.5 per cent higher than the comparable level of Rs.2,302 crore in the same period of 2017. By the same comparison, export orders grew 68 per cent.
“Consistent market development efforts, greater collaboration and integrated offerings helped secure orders for clean energy, from process industries and in power infrastructure development, especially in the South Asia region. Service orders also grew in double digit terms, with broad-based growth across all divisions,” an ABB India release said.
During the quarter, multiple digitalization MoUs were signed from paint to cement and natural resources companies. Such models entail longer conversion cycles as orders for enterprise-wide applications are preceded by pilots at the client locations. Recent MoUs on advanced manufacturing and smart power distribution during the quarter will fast-track awareness and create different prototypes across segments for these emerging technologies. These new developments lay a good foundation for future growth in project expenditure on digitalization project by customers, the release observed.
The outstanding order book position was Rs.10,717 crore as of June 30, 2018. The order book contains multiple contract wins, balanced between traditional sectors and emergent markets including smart cities, marine, railways, digitalization, and food and beverage, the release added.
(Photograph shows ABB India’s facility at Nashik in Maharashtra)