ABB - Muted Operating Q4 Performance; Balance Sheet Strength Intact: Motilal Oswal
A logo stands on the roof of an ABB plant in Baden, Switzerland. (Photographer: Stefan Wermuth/Bloomberg)

ABB - Muted Operating Q4 Performance; Balance Sheet Strength Intact: Motilal Oswal

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.

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.

Click on the attachment to read the full report:

Motilal Oswal ABB India Q4CY20 Result Update.pdf

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