ABB India Ltd has reported a 6 per cent year-on-year growth in order inflows during CY2024.
In a release, ABB India said that it received new orders worth Rs.13,079 crore during CY (calendar year: January to December) 2024. This was 6.2 per cent higher than the comparable level of Rs.12,319 crore in CY2023.
Total orders for the fourth quarter (Q4: October to December) of CY2024 stood at Rs.2,695 crore as against Rs.3,147 crore in Q4 of CY2023. The release said that base orders for the quarter grew by 4 per cent while total orders were down due to the impact of a large order in both the Motion and Process Automation business areas in Q4 of CY2023.
For the fourth quarter, Process Automation experienced an uptick led by metals while Robotics & Discrete Automation posted a quantum leap in order growth as compared to the same period in CY2023.
Uptrend in orders for the quarter came from segments like metals and mining, energy and chemicals, buildings and infrastructure, food and beverage, electronics, and renewables.
For CY2024, large orders were up 20 per cent and total orders by 5 per cent driven by growth in segments like data centers and railways, in addition to the segments mentioned above for the fourth quarter. ABB India has been registering a CAGR of 22 per cent for orders consistently for the last five years, the release observed.
Order backlog
ABB India continues to have a strong order backlog as of December 31, 2024, at Rs.9,380 crore, an increase of 12 per cent year-on-year, which provides revenue visibility and is well aligned to support growth plans in the coming periods.
Record year
Commenting on the company’s performance, Sanjeev Sharma, Managing Director, ABB India said, “2024 has been another year of record high orders, revenue, and margins. This year, ABB India celebrates 75 years of manufacturing and Innovation in India, with an exhaustive production footprint, deep customer installed base and solid local supply chain. We continue to bring the best of global technology with local engineering and manufacturing for our customers and partners.
Also read: ABB India celebrates its 75th anniversary
