NSE: ABB · BSE: 500002
ABB INDIA LIMITED
Makes electrical equipment, drives, and industrial automation across three continuing segments. Electrification (48.5% of Q1 FY26 segment revenue, INR 1,564.47 cr) supplies low and medium voltage switchgear, variable frequency drives and power distribution solutions for buildings, data centres and rail networks. Motion (36.0%, INR 1,160.63 cr) sells motors, drives and motion control equipment used in industrial machinery. Automation (15.5%, INR 500.42 cr) provides process automation solutions for industries such as oil & gas, metals and renewables. Revenue in Q2 FY26 was INR 3,558.87 cr, up 21% year-on-year. Order backlog at end of Q2 FY26 stood at INR 11,898 cr, up 22% year-on-year, with data centres contributing 12-16% of the order book and delivery schedules stretching into 2028. The Robotics business was divested to a related party (ABB Robotics Schweiz AG) for INR 1,568.20 cr on March 1, 2026, and the Power Grids business is classified as a discontinued operation. Operations span 16 divisions and 23 market segments, with 75 years of manufacturing presence in India; the company announced a fresh USD 75 million capex to expand manufacturing and R&D. Material cost inflation was a 3.7 percentage-point headwind in Q1 FY26, split roughly into competition (~1pp), commodity prices and rupee depreciation (~2pp), and adverse revenue mix (~1pp). AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Electrification (49%), Motion (36%), Automation (16%), Power Grids and Robotics & Discrete Automation (0%). Project- and order-driven B2B manufacturer of heavy electrical equipment, drives and automation, with material exposure to commodity prices and the Indian private capex cycle.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY26 |
|---|---|---|
| Revenue | — | — |
| EBITDA (ex other income) | — | — |
| margin % | — | — |
| Owners' profit | — | — |
| EPS, as reported (₹) | — | — |
| ROE % · ROCE % | — · — | — · — |
| Debt / equity (x) | — | — |
| Cash from operations | — | — |
| Capex | — | — |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY20 | Q2 FY20 | Q4 FY22 | Q1 FY23 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,726 | 1,746 | 1,975 | 2,098 | 3,311 | 3,557 | 3,184 | 3,559 |
| Profit before tax | 113 | 113 | 198 | 203 | 542 | 578 | 462 | 499 |
| Net profit | 130 | 135 | 80 | 146 | 409 | 433 | 1,784 | 362 |
| EPS (₹) | 6.15 | 6.38 | 3.76 | 6.87 | 19.31 | 20.43 | 84.18 | 17.09 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Motion | 3,537 | 34.8 |
| Electrification | 4,541 | 44.7 |
| Automation | 500 | 4.9 |
| Others | 2 | 0.0 |
| Unallocated | 2 | 0.0 |
| Robotics & Discrete Automation | 316 | 3.1 |
| Process Automation | 1,254 | 12.3 |
| Total, before eliminations | 10,151 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BHEL | 1,41,563 | 58.2 | 5.41 | 47.1 | 6.1 | 4.7 | 14.3 | 9.3 |
| ABB INDIA LIMITED ◆ | 1,37,523 | 46.0 | 14.72 | — | 23.0 | 10.2 | — | 15.2 |
| CG POWER AND IND SOL LTD | 1,31,087 | 85.8 | 15.99 | 71.3 | 14.6 | 19.2 | 33.2 | 14.7 |
| HITACHI ENERGY INDIA LTD | 1,26,820 | 110.2 | 24.50 | — | 19.1 | 24.7 | — | 16.9 |
| SIEMENS LTD | 1,20,079 | 36.7 | 8.67 | 33.8 | 19.9 | 20.6 | 31.1 | 11.6 |
| GE VERNOVA T&D INDIA LTD | 1,04,269 | 79.9 | 38.76 | — | 45.8 | 57.9 | — | 27.4 |
| SIEMENS ENERGY INDIA LTD | 1,01,282 | 68.1 | 21.05 | — | 14.3 | 15.8 | — | 25.9 |
| SUZLON ENERGY LIMITED | 51,299 | 16.4 | 5.42 | 15.9 | 33.4 | 22.7 | 38.0 | 16.4 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 46.0 | 36.5 | 23 of 34 | 33% |
| P/B | 14.7 | 5.4 | 28 of 33 | 16% |
| ROCE | 10.2 | 16.6 | 26 of 36 | 29% |
| ROE | 23.0 | 14.7 | 9 of 34 | 76% |
| Debt / Equity | 0.0 | 0.1 | 1 of 34 | 67% |
| EBITDA margin | 15.2 | 16.4 | 21 of 35 | 41% |
| Revenue growth | 69.6 | 17.7 | 3 of 33 | 94% |
| Profit growth | 148.7 | 6.7 | 3 of 32 | 94% |
| Market cap | 137523 | 6267 | 2 of 35 | 97% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 6 Oct 2026 · ABB India appoints Suneel Kumar Munaga as CFO from Jan 1, 2027 | management changes | high | — | — |
| 10 Sept 2026 · Board meeting on Nov 13 for Q2 FY26 results; trading window closed | results | low | — | — |
| 10 Sept 2026 · Board meeting on Nov 13 to consider Q2 FY26 results | results | low | — | — |
| 7 Aug 2026 · ABB India Q2 CY26 analyst call: orders up 50%, EBITA at 12.6% | investor communications | medium | — | — |
| 3 Aug 2026 · ABB India publishes Q2 FY26 unaudited results in newspapers | compliance | minimal | — | — |
| 31 Jul 2026 · ABB India Q2 CY2026 results: Orders up 50%, special dividend declared | investor communications | medium | — | — |
| 31 Jul 2026 · ABB India Q2 CY2026: Record orders up 50%, revenue up 21%, special dividend INR 90 | compliance | low | — | — |
| 31 Jul 2026 · ABB India declares Rs.90 special dividend per share | corporate actions | high | — | — |
| 31 Jul 2026 · ABB India Q2 FY26 revenue up 21% YoY, declares Rs 90 special dividend | results | high | — | — |
| 31 Jul 2026 · ABB India Q2 FY26 revenue up 21% YoY; declares Rs 90 special dividend | results | high | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.