ABB India Limited · Research view

ABB India Limited

NSE: ABBBSE: 500002ISIN INE117A01022Face value ₹2standalone

₹6,854

+0.14% · 2026-10-01 · 52-wk ₹4,692–₹7,735

Financials to FY2026 · 3 years of history · prices to 2026-10-01consolidated standalone

Section 02 · Synthesis

What stands out?

The strongest observations the engine found, ranked. Every line is generated from the filed numbers by a fixed rule — no opinion, no estimate.

StrengthConcernWatchContext

WatchTalking point

Profit lagging revenue

Revenue grew 8.3% but profit declined 10.9%, so the company kept less of each rupee of revenue as profit.

Importance 68 / 95 · growth

WatchTalking point

Sharp margin drop

EBITDA margin dropped 3.7 percentage points in a single year, from 21.8% to 18.1% — worth investigating.

Importance 65 / 95 · anomaly

Concern

Returns declining

ROE declined from 28.8% to 22.4% year on year.

Importance 48 / 95 · profitability

Section 03 · The company

Who is this company?

Classified by the exchange under Industrials › Capital Goods › Electrical Equipment › Heavy Electrical Equipment.

Market cap: ₹1.45 L cr
FY2026 revenue: ₹13,203 cr
FY2026 net profit: ₹1,668 cr
Net worth: ₹7,836 cr
Total debt: ₹0 crnet cash
EPS (basic): ₹78.73
Listed: NSE · BSE
Reporting: Ind-ASApr–Mar

Peer set used on this page: 8 heavy electrical equipment.

Section 04 · Business performance

Is the business growing?

Revenue & net profit — FY24 to FY26₹ crore · consolidated

RevenueNet profit

Watch

Revenue grew 8.3% but profit declined 10.9%, so the company kept less of each rupee of revenue as profit.

Rule PROFIT_SLOWER_THAN_REVENUE

Revenue growth per year: +12.4%over 2 years
Revenue growth: +8.3%vs last year
Net profit growth: −10.9%vs last year
Change in net profit since FY24: +34%

Revenue grew 8.3% but EBITDA margin fell 3.7 percentage points to 18.1%, so the company kept less of each rupee of revenue as operating profit.

Net profit fell 10.9% year on year (FY2025 → FY2026).

Section 05 · Recent activity

What changed recently?

Quarterly results, the trailing-twelve-months snapshot, and verified corporate actions — kept separate from each other and from the annual story above. Every figure traces to a filed number; nothing here is external news or commentary.

Strength

Q2 FY27 revenue of ₹3,559 cr is the highest of the 5 quarters on record for this company.

Rule QTR_REVENUE_AT_RECORD

Watch

Q2 FY27 net profit was ₹362 cr, down 16.3% from ₹433 cr in the previous quarter (Q4 FY26).

Rule QTR_PROFIT_SEQUENTIAL_CHANGE

A. Quarterly results

Latest quarters — Q1 '22 to Q2 '27₹ crore · consolidated

RevenueNet profit

Quarter	Revenue	YoY	Net profit	YoY	Net margin
Q1 FY22	1,975	—	80	—	4.0%
Q1 FY26	3,184	—	1,784	—	56.0%
Q3 FY26	3,311	—	409	—	12.4%
Q4 FY26	3,557	—	433	—	12.2%
Q2 FY27	3,559	—	362	—	10.2%

C. Corporate actions

7 Aug 2026DividendSpecial Dividend - Rs. - 90.0000 — ₹90.00/share

30 Apr 2026DividendFinal Dividend - Rs. - 29.5900 — ₹29.59/share

8 Aug 2025DividendInterim Dividend - Rs. - 9.7700 — ₹9.77/share

2 May 2025DividendFinal Dividend - Rs. - 33.5000 — ₹33.50/share

23 Aug 2024DividendInterim Dividend - Rs. - 10.6600 — ₹10.66/share

3 May 2024DividendFinal Dividend - Rs. - 23.8000 — ₹23.80/share

25 Aug 2023DividendSpecial Dividend - Rs. - 5.5000 — ₹5.50/share

27 Apr 2023DividendDividend - Rs. - 5.5000 — ₹5.50/share

27 Apr 2022DividendFinal Dividend - Rs. - 5.2000 — ₹5.20/share

19 Apr 2021DividendDividend - Rs. - 5.0000 — ₹5.00/share

16 Jul 2020DividendDividend - Rs. - 4.8000 — ₹4.80/share

20 Dec 2019DemergerSpin Off

26 Apr 2019DividendDividend - Rs. - 4.8000 — ₹4.80/share

27 Apr 2018DividendDividend - Rs. - 4.4000 — ₹4.40/share

28 Apr 2017DividendDividend - Rs. - 4.0000 — ₹4.00/share

13 Apr 2016DividendDividend - Rs. - 3.7000 — ₹3.70/share

28 Apr 2015DividendFinal Dividend - Rs. - 3.7000 — ₹3.70/share

25 Apr 2014DividendDividend - Rs. - 3.0000 — ₹3.00/share

30 Apr 2013DividendFinal Dividend - Rs. - 3.0000 — ₹3.00/share

2 May 2012DividendDividend - Rs. - 3.0000 — ₹3.00/share

2 May 2011DividendDividend - Rs. - 2.0000 — ₹2.00/share

3 May 2010DividendDividend - Rs. - 2.0000 — ₹2.00/share

11 May 2009DividendDividend - Rs. - 2.2000 — ₹2.20/share

26 May 2008DividendDividend - Rs. - 2.2000 — ₹2.20/share

28 Jun 2007Otherother

Section 06 · Business performance

Is it becoming more profitable?

Margins — FY24 to FY26% of revenue · consolidated

EBITDA marginNet margin

Concern

ROE declined from 28.8% to 22.4% year on year.

Rule ROE_DETERIORATED_YOY

EBITDA margin now: 18.1%
3-year range: 17.1–21.8%
ROE FY2026: 22.4%
ROCE FY2026: 30.2%

Section 07 · Financial health

Is financial health improving?

Net worth — FY24 to FY26₹ crore · consolidated

Net worth (shareholders' funds)

Leverage and cash generation over the loaded history are shown above.

Operating cash flow vs net profit₹ crore · FY24–FY26

Operating cash flowNet profit

Total debt: ₹0 crnet cash
Operating cash flow ÷ net profit: 0.73×FY2026
Free cash flow: ₹980 cr
Current ratio: 2.09×

Section 08 · Relative position

How does it compare with peers?

Ranked against 8 heavy electrical equipment (FY2026, consolidated). No peer-relative rule fired for this company.

Revenue growth

ABB · set median 26.5%

EBITDA margin

ABB · 5th of 8 · set median 18.2%

Return on equity

ABB · 4th of 8 · set median 21.2%

P/E ratio

ABB · 5th of 8 · set median 85.4×

P / E: 87.1×FY2026
P / B: 18.5×latest book
P / S: 10.7×FY2026
Earnings yield: 1.1%FY2026

Section 09 · The stock

How has the stock performed?

Adjusted close — 2020-01 to 2026-10₹ per share · split / bonus adjusted

Long-term price performance is shown above.

1-year return: +31.8%
3-year return: +67.3%
5-year return: +268.7%
From 52-wk high: −11.4%

Section 10 · Technical data

What does the technical data say?

Price-action indicators as of 2026-10-01. Secondary to the fundamentals above — included for timing context, not as a signal.

vs 50-day avg: Below₹7,414
vs 200-day avg: Above₹6,524
RSI (14): 28.8oversold
MACD histogram: -46.1
From 52-wk high: −11.4%
From 52-wk low: +46.1%
30-day volatility: 18.4%ann.
6-month return: +11.2%

RSI (14) · 0–10028.8 — oversold

Section 11 · Open questions

What should I investigate further?

Observations the engine tagged watch or deteriorating — prompts for your own research, not conclusions.

Watch
Profit lagging revenue
Revenue grew 8.3% but profit declined 10.9%, so the company kept less of each rupee of revenue as profit.
PROFIT_SLOWER_THAN_REVENUE · conviction 68
Watch
Sharp margin drop
EBITDA margin dropped 3.7 percentage points in a single year, from 21.8% to 18.1% — worth investigating.
MARGIN_SHARP_DROP · conviction 65
Watch
Growing, but less profitably
Revenue grew 8.3% but EBITDA margin fell 3.7 percentage points to 18.1%, so the company kept less of each rupee of revenue as operating profit.
REVENUE_UP_MARGIN_DOWN · conviction 65
Concern
Returns declining
ROE declined from 28.8% to 22.4% year on year.
ROE_DETERIORATED_YOY · conviction 48
Concern
Profit fell
Net profit fell 10.9% year on year (FY2025 → FY2026).
PROFIT_DECLINED_YOY · conviction 42

Only 3 annual year(s) of financials loaded — multi-year trend analysis is limited.

Section 12 · Reference

The numbers

The full statements, kept deliberately secondary. Every figure traces to a BSE Integrated Filing (inline XBRL); ratios are recomputed from the normalised facts.

Income & balance sheet — ₹ crore, consolidated
Metric	FY24	FY25	FY26
Revenue	10,447	12,188	13,203
Total income	10,748	12,542	13,555
EBITDA	1,791	2,659	2,395
Profit before tax	1,659	2,513	2,230
Net profit	1,242	1,872	1,668
EPS (₹)	58.6	88.3	78.7
Net worth	5,945	7,075	7,836
Total debt	0	0	0
Operating cash flow	1,351	1,332	1,220
Free cash flow	1,168	1,118	980

Key ratios — consolidated
Ratio	FY24	FY25	FY26
Growth
Revenue growth YoY	—	16.7	8.3
Profit growth YoY	—	50.7	-10.9
Profitability
EBITDA margin %	17.1	21.8	18.1
Net margin %	11.6	14.9	12.3
Return on equity %	20.9	28.8	22.4
Return on capital %	28.1	38.9	30.2
Leverage & cash
Debt to equity	0.00	0.00	0.00
Cash flow ÷ profit	1.09	0.71	0.73
Current ratio	1.93	2.08	2.09