ABB India navigates a complex macroeconomic landscape as it balances strong order momentum in data centers and infrastructure against persistent margin headwinds from currency volatility and input cost inflation. Investors will be looking for updates on the company's ability to drive volume-led margin recovery and the status of its ongoing transition to domestic manufacturing under evolving regulatory mandates.
| Results date | July 31, 2026 |
|---|---|
| Quarter | Q2 CY2026 |
| Previous quarter revenue | Rs. 3,184 Cr |
| Previous quarter PAT | Rs. 1,784 Cr |
| Previous quarter EBITDA margin | 12.8% |
| Market cap | Rs. 1,56,293 Cr |
| CMP | Rs. 7,375.5 |
The board will meet on July 31, 2026 to consider unaudited Q2 CY2026 financial results and to discuss declaration of an interim dividend for FY2026.
A conference call is scheduled for July 31, 2026, from 18:30 to 19:30 hrs IST.
Management remains focused on achieving double-digit revenue growth supported by a robust order backlog of Rs. 11,094 Cr, which grew 17% YoY as of Q1 CY2026. While the company aims to maintain PAT margins within the 12% to 15% corridor, recent performance has been constrained by elevated input costs and rupee depreciation, which impacted the Q1 CY2026 EBITA margin of 12.7%. Looking ahead, the company expects volume-driven capacity absorption to act as a primary lever for margin improvement, though management has acknowledged that commodity volatility and forex headwinds significantly offset these gains. The upcoming call will likely address the impact of the new Electrical Appliances QCO 2026, which expands the compliance burden, and the progress of the USD 75 million capex investment aimed at scaling domestic manufacturing and R&D capabilities.
Margin Trajectory vs. 12–15% Band: Monitoring the company's ability to maintain margins at the lower end of its target band.
Revenue Growth and Backlog Conversion: Tracking execution velocity against the double-digit revenue growth aspiration.
Strategic Capex and FTA Readiness: Updates on capital deployment following the Robotics divestment.
Risks and Headwinds to Monitor: External factors impacting operational performance.
The Robotics business was divested via a slump sale for Rs. 1,568 Cr, resulting in a profit of Rs. 1,658 Cr. This gain contributed significantly to the total PAT of Rs. 1,784 Cr reported in Q1 CY2026.
Management previously guided that the QCO mandate would impact performance for 3–4 quarters from Q3 CY2025, with potential easing starting in Q2–Q3 CY2026. However, the new Electrical Appliances QCO 2026 expands the scope of mandatory BIS certification, with implementation phases extending into 2027.
Management noted that pricing power has reached a saturation point due to intense market competition and the difficulty of passing through cost increases quickly. Consequently, the company is prioritizing volume-driven capacity absorption as the primary lever for margin recovery.
Revenue growth was 6% YoY in Q1 CY2026, which is below the company's double-digit aspiration. Management has caveated this target, noting that growth depends on market conditions and the finalization of large orders.
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