Motilal Oswal: ABB India Posts Strong Operating Q3 Performance; Weak Order Inflow
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Motilal Oswal Report
ABB India Ltd.’s Q3 CY20 revenue growth decline was limited to 8% (versus estimate 14% decline).
The company demonstrated strong cost-control measures, leading to flat Ebitda YoY (almost double our estimate) – a commendable effort, implying higher resilience to revenue decline.
The company has suggested that approximately 85% of the previous year’s demand is back in the system.
However, order inflow declined 19% YoY, largely attributable to the electrification and industrial automation segments.
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