BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
ABB Power Products and Services India Ltd. reported top-line growth of 24% y-o-y, which was 16% below our estimates.
Impact of Covid-19 restrictions on the company’s revenue was ~Rs 2 billion as more than 20 project sites were partially/ fully closed along with supply chain/ logistics disruptions and customer delays.
Subsequently, Ebitda margin miss was ~200 basis points due to lower operating leverage.
Nevertheless, the company witnessed a strong recovery in order inflows (up 31% y-o-y) as services orders increased by 62% y-o-y.
ABB Power Products has order backlog of Rs 48 billion, translating into book/bill of 1.4 times.
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