ABB India has posted its 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 realising the government’s renewable energy vision and 24x7 reliable ‘power for all. 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.
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.