Rs 7,727 crore order book: This multibagger Heavy Electrical Equipment company bags orders for automating Reliance Life Sciences!

Shares of the company gained more than 30 per cent in the last six months.

ABB India Limited informed in the exchange filing that the company has bagged an order from Reliance Life Sciences to deploy automation and control solutions for their new biosimilars and plasma proteins manufacturing facilities in Nashik, Maharashtra.

The scope of the work involves complete automation of the manufacturing process using ABB’s flagship Distributed Control System (DCS) Ability™ System 800xA, Remote I/O systems, Batch Recipe Management, and MES Integration.

ABB India Limited is an integrated power equipment manufacturer supplying a complete range of engineering, products, solutions and services in areas of Automation and Power technology.

In the recent quarter (Q1FY24), the company posted strong Quarterly Results. The revenue of the company stood at Rs 2491.35 crore which grew by 22.35 per cent YoY. The operating profit of the company stood at Rs 423.75 crore, while the PAT of the company stood at Rs 295.81 crore, which decreased by 101.15 per cent YoY.

As of Q1FY24, the company has an order book worth Rs 7,727 crores. The order inflow growth for the year is expected to be 12-15 per cent, but the company is optimistic about the market and may exceed this range.

The shares of the company have delivered multibagger returns of over 300 per cent in the last three years and Investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.