Hitachi ABB Power Grids in India sees growth in sequential order inflow
- May 5, 2021
Hitachi ABB Power Grids in India, listed on stock exchanges as ABB Power Products & Systems India Ltd, saw a 2.8 per cent growth in order inflows during Q1 (January to March) of 2021 as compared with the immediately preceding quarter.
The order inflow of Rs.848.90 crore in Q1 of 2020 was largely dominated by industries and railways. The company received multiple orders for its gas-insulated high-voltage switchgear – indicative of imminent urbanization and industrialization.
The orders in Q1 of 2021 largely came from data centers, a solar project in Tamil Nadu, an aluminum smelting plant in Chhattisgarh, and a transmission project in Uttar Pradesh. Hitachi ABB Power Grids in India was also the preferred partner for supplying transformers to the Indian Railways, for hydroelectric power generation in Jammu & Kashmir, and for the Bangalore metro rail, a statement by Hitachi ABB Power Grids in India said.
As of March 31, 2021, the company’s outstanding order book position was Rs.4,777.70 crore.
Stable topline
“Even as challenging times persist, we are pleased to report a stable topline performance. Key order wins in renewables, railways, data centers, and digitalization complemented traditional projects in domestic and export markets,” said N Venu, CEO and Managing Director, Hitachi ABB Power Grids in India.
Also read: Hitachi ABB Power Grids In India To Strengthen BALCO’s Power Infrastructure
Order position in 2020
During Q1 of 2020, the company had reported order inflows of Rs.934.20 crore. The performance in the corresponding period of 2021 was thus 9.1 per cent lower. The company had closed 2020 with a total order inflow of Rs.3217.70 crore.
Cybersecurity
In Q1 of 2021, Hitachi ABB Grids in India was chosen for a cybersecurity audit by a large city distribution company in one of the metros. The company also achieved the IEC 62443 certification in the first quarter, reaffirming our commitment to deliver products and systems that meet the highest cybersecurity standards. In continued efforts to deliver cutting-edge technologies, the company conducted power system studies and virtual instructor-led training for top power generation and transmission companies, the release added.
