ABB - Muted Operating Q4 Performance; Balance Sheet Strength Intact: Motilal Oswal
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Motilal Oswal Report
ABB India Ltd.’s like-for-like revenue growth – adjusted for divested solar inverter business sales – stood at -3% YoY and was 10% below our expectation.
While the pace of recovery has been a tad slower than expected (the lockdown in Europe has hurt exports as well), there are clear signs of green shoots across various end markets such as data centers, food and beverage, automobiles, and pharma; new opportunities are also opening up in electronics (aided by the performance linked incentive scheme).
The company has demonstrated commendable control over cash flows and improved its balance sheet further.
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