Review

ABB POWER PRODUCTS & SYSTEMS INDIA LTD.

Ticker : 543187
FV : Rs 2 
52-Week H/L : Rs2,201.60/879

We had previously recommended ABB Power Products & Systems India in volume 37, no. 32, dated May 31, 2021, when the scrip was trading at Rs 1,935.00 per share. The company’s quarterly results of Q1FY22 show that revenue stood at Rs 796.8 crore, rising 24.8 per cent on a YoY basis despite COVID-19 second wave challenges. Rail, datacentres, and utilities drove growth as orders went up by 31.4 per cent on a YoY basis from Rs 567.3 crore in Q1FY21 to Rs 745.6 crore in Q1FY22. PBDT came in at Rs 21.6 crore for Q1FY22, expanding by 51 per cent as compared to Rs 14.3 crore for Q1FY21. The company reported a net profit of Rs 16.3 crore in Q1FY22, which is an increase of 49.5 per cent from Rs 10.9 crore posted in Q1FY21. It was led by a better revenue mix. The company has delivered strong earnings during the recent quarter along with a robust order book, which augurs well for the company. Hence, we recommend HOLD in this counter.