ABB India has witnessed record inflow of Rs.3,607 crore during the quarter ending March 31, 2024.
In a release, ABB India said that this order inflow was the highest first-quarter order inflow since the past five years.
Order inflows in Q1 of 2024, at Rs.3,607 crore, were also 15.4 per cent higher than the comparable Rs.3,125 crore in Q1 of 2023. (See table).
As of March 31, 2024, the outstanding order book was Rs.8,932 crore, up 25 per cent from Rs.7,170 crore as of March 31, 2023.
It may be noted that company’s accounting year is from 1 January to 31 December (calendar year or CY). Hence the period 1 January to 31 March represents the first quarter of its accounting year.
Multi-division portfolio
“Growth in orders underlines the success of our multi-division portfolio to capture different cycles in the market segments. The quarterly growth was led by our Electrification & Process Automation business areas, which more than offset the temporary customer decisions sluggishness in Motion and Robotics & Discrete Automation business areas. From the market point of view, the strongest growth was witnessed in data centers, smart buildings, expansion in tier 2 & 3 cities, energy and logistics,” the release noted.
Key orders
Key orders won in Q1 of 2024, included:
- Compact substations, smart power products, medium voltage switchgear for a significant data center project
- Centralized Process Information Management System of an energy major for Energy Industries, Process Automation
- System Drives order for a global metal product manufacturer
- Distributed control systems (DCS) for a state electricity board
- Process Automation solutions for remote terminal unit, leak detection system and SCADA for brownfield project of an energy major
- Low voltage motors for a range of pump manufacturing, water solutions and engineering companies
- Order for robotics solutions of pixel painting for EVs of an auto major
- Electrification distribution solutions, ACBs, MCCBs, power switches and control products for various renewable energy projects
- GIS for reliable, 24×7 power distribution for metro project
- Robotics solutions for primary, secondary and end of line packaging solutions major for F&B segment
- Robotics solutions for electronics in consumer goods, high precision equipment and mobile phone assembly
Outlook
On the company’s outlook, ABB India said that India has been able to stay the course on its growth momentum and capex revival despite geopolitical challenges across the globe. With this background, ABB India is likely to balance and deepen its existing presence in traditional segments while leveraging opportunities in emerging sectors to drive quality growth. Higher capex in infrastructure, railways, renewables, power distribution, water, energy, commercial buildings, and metals are likely to provide necessary opportunities for growth, the company said.
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Featured photograph shows inside view of ABB India’s production facility at Maneja, Gujarat.