Sharma is reasonably confident of building on the current business momentum
ABB India, a unit of ABB (ABBN: SIX Swiss Ex), reporrted a full year order of Rs.7,666 crore, saying it is benefitting from business opportunities to render greater sustainability and efficiency in certain core sectors of energy, railways & metro, and cement.
“Our performance across all key parameters was excellent across a majority of business divisions. Customer support, the team’s dedication and ABB’s agile business model helped overcome pandemic and global supply chain challenges in the first half. Business fundamentals further improved over the second half of the year,
ABB Team in India has developed a robust order & cash position aided by strategic product mix aligned with growth market segments helped improve margins and bottom-line significantly,” Sanjeev Sharma, Managing Director, ABB India, said on 11 Feb 2022.
“ABB Team in India has developed a robust order & cash position aided by strategic product mix aligned with growth market segments helped improve margins and bottom-line significantly.
“Each of our business division has developed a well-defined growth glide-path and same is well supported by the company‘s strong cash position. The year has also witnessed a strong momentum in our sustainability-in-practice journey in green infrastructure, which we will continue to expand and amplify,” he said.
ABB is reasonably confident of building on the current business momentum and is committed to create (or to the creation) of sustainable returns for the company’s stakeholders.
For the Q4 2021 quarter, the Swiss heavyweight business was at a high of Rs.2,243 crore as Process Automation business area witnessed good order inflows across all divisions.
Traction in steel and paint industry and downstream units pushed the orders to Rs.770 crore, up by 175% compared to Q4 2020.
Motion and Electrification business areas both posted healthy double digit growth Y-on-Y supported by strong contribution from smart power, channel business, exports, tier 2 and 3 cities penetration and packaging.
Robotics & Discrete Automation business area continued to record reasonable order inflows, including green shoots of recovery in the automotive market and demand in new market segments.
The Company recorded a revenue of Rs.6,934 crore for the full year, an increase of 19% as compared to CY20. The growth was driven by capacity expansion and strong backlog execution despite supply chain challenges.
The company reported Rs.2,101 crore revenue for the quarter, which is higher by 24% as compared to Q4 last year.
In Q4, strong backlog execution, solid customer-connect, uptick in exports and service business led to the positive movement in the quarter. Revenue in electrification business grew by 31% Y-o-Y supported by higher revenues from smart building and smart power business; Motion business saw growth of 17% Y-o-Y across all divisions except some delays in traction motors; Process Automation grew by 22% supported by strong backlog realization with service revenues contributing to 30; Robotics and Discrete Automation segment posted a revenue growth of 26% Y-o-Y.
ABB India continued the journey of making Indian shopfloors more digitalized. Some of the projects include digital melt shop solution installation for JSW and large-scale remote commissioning of actuators for Bilt Graphic Paper Boards company. Better decision making for steel makers with ABB Ability™ Data Analytics platform for Sunflag Steel and electromagnetic braking system deployed for Tata Steel.
The RA business area did the local commissioning of the first fully robotized and automated line installation of an auto major with remote monitoring of body diagnostics using holo-lens. A virtual factory acceptance test (FAT) and holo-lens guided installation for remote troubleshooting was conducted by the robotics business for a French global automotive supplier.
In addition to the same, ABB Robotics is also a part of the OLA mega factory of electric scooters deploying sustainable robotics solutions like pixel paint technology optimizing paint applications to reduce emissions and enhance productivity.
During the quarter, ABB India flagged off ‘Energy Efficiency Movement’ and highlighted the importance of industrial energy efficiency. The fourth quarter was also marked by the completion of multiple sustainability and ESG milestones including the opening of the AI-enabled country and business office Disha. The building installed with ABB’s Building Management Systems would save up to 30% of potential energy usage.
The Peenya Bengaluru campus of ABB where Disha is located also received the LEED-gold rating and certification for elimination of single use plastics.
The Nelamangala, Bengaluru campus also turned water positive signifying more water is replenished back to the earth than the water consumed at this campus.
The Faridabad facility in Haryana also expanded the capacity for low voltage motor production powered by renewable energy.
The sustainability in practice initiatives momentum is now built in all our campuses across the country and significant progress is seen in 2021.
“Our initiatives align well with our parent group’s net zero target in years to come,” said. Sharma. fiinews.com
