New Delhi, February 9, 2017: ABB India Limited, reported results for the quarter and the full year ended December 31, 2016. ABB India posted biggest growth in orders in recent years. The investments in power transmission based on cutting edge technology, renewables, increased spend in infrastructure & transportation provided ABB India ample opportunities. The new orders in UHVDC (ultra high voltage direct current) transmission technology projects pioneered by ABB, which reduces losses to transmit clean energy over long distances would be key to realizing the government’s renewable energy vision and 24x7 reliable power for all.

Transportation investments led by railways, Metro projects and renewables by wind provided the levers for a milestone growth. A sectoral focus in emerging areas like food and beverage and datacenters continue to show good progress. The full year order book surged to Rs 12,466 crore while orders received for the quarter ending December 2016 was at a high of Rs 5,628 crore.

An order backlog of Rs 11,821 crore, as on December 31, 2016, provides solid visibility for future revenue.

ABB India posted revenue of Rs 2,492 crore for the quarter and Rs 8,648 crore for the full year. In line with the government’s make in India initiative, ABB India has been consistently investing to deepen footprint in the country, innovating and deploying global technology for domestic and international markets. The robust order backlog complements ABB India’s proven execution ability to provide a strong foundation for profitable growth in the future.

Operational Excellence initiatives continued to be one of main contributors to the market penetration, innovation and expansion endeavours. Indigenisation of new technology industrial solutions included smoke venting motors and higher efficiency motors in the IE3 range. The push for sustainable infrastructure and urbanisation across the country has resulted in the development of products like electromagnetic flowmeter with flangeless design for promising water segment and the launch of XT range of MCCBs.

Profit before tax (PBT) increased to Rs 224 crore for the quarter and Rs 576 crore for the year. In a market of select growth and tightening investments ABB India’s differentiated position was reflected in profit after tax improving to Rs 147 crore for the quarter and Rs 376 crore for the year ended December 31, 2016.

“Our performance is built on deeper customer engagement; more value added offerings and the organisation agility to adapt to changing global and local market demand cycles. Our focus on operational excellence with consistent work on cost and cash has ended the year with solid results,” said Sanjeev Sharma, CEO and Managing Director, ABB India. “Our cutting edge technology portfolio of products and services align well with investments and trends in the market. We feel very excited that ABB Ability Digitalization solutions will be a frontrunner in shaping future of utilities, industries, transportation and infrastructure sectors in the country.”