Hold ABB India; target of Rs 5302: ICICI Securities

hold

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

ICICI Securities research report on ABB India

ABB India (ABB) reported a strong Q4CY24 result with revenue of INR 33.7bn (+22% YoY), EBITDA of INR 6.6bn (+58% YoY) and PAT of INR 5.3bn (+54% YoY). EBITDA margin continued its uptrend to 19.5% for the quarter (+440bps YoY). Note that revenue grew 19%, 24%, 22% and 17% in CY21, CY22, CY23 and CY24, respectively. On the other hand, order inflow (OI) was disappointing in Q4; OI declined 14% YoY and was the lowest in the last eight quarters. Decline in OI was mainly due to motion segment (-30% YoY), which had a large order in Q4CY23.

Outlook

Order backlog (OB) as of Dec’24 was INR 94bn (+12% YoY). We expect order and revenue growth to be subdued in the near term compared to the last three years. Upgrade to HOLD from Reduce with a revised TP of INR 5,302, as we roll forward to CY26E.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

ABB India - 19022025 - icici