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ABB Power Q1 Review - Growth Momentum Continues: Dolat Capital

ABB Power Q1 Review - Growth Momentum Continues: Dolat Capital

Transmission towers in Crockett, California, U.S. (Photographer: David Paul Morris/Bloomberg)
Transmission towers in Crockett, California, U.S. (Photographer: David Paul Morris/Bloomberg)

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 Systems Ltd. reported strong revenue growth of 25.1%YoY at Rs 10.2 billion (up 4.9% versus our estimates).

Ebitda increased by 12.8% to Rs 0.7 billion (down 5.1% versus our estimates), though margin contracted by 80 basis points to 7.3%.

Adjusted profit after tax stood at Rs 0.4 billion, up by 27.3%YoY (down 11.2% versus our estimates).

We remain positive on the company's story as it offers a superior derivative play on India’s changing energy landscape.

In line with our long-term thesis, the growth would be driven by incremental order inflows led by renewable-energy integration, railway electrification, and big push on large infra projects and data centers.

Click on the attachment to read the full report:

Dolat Capital ABB Power Products Q1CY21 Result Update.pdf

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