ABB India Ltd
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BSE Code:
500002
NSE Code:
ABB
Business Profile
Business Profile
ABB (ABB), a partly-owned subsidiary of ABB Asea Brown Boveri of Switzerland, provides power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The company was incorporated on Dec. 22, 1949 as Hindustan Electric Company. Pursuant to a scheme of amalgamation of Asea with HBB, the name was changed to Asea Brown Boveri (ABB) with effect from Oct. 13, 1989. The chairman is Ravi Uppal and the managing director is Biplab Majumder.
ABB operates through its business divisions of power products, power systems, automation products, process automation and robotics. It manufactures a wide range of transformers, switchgears, breakers, capacitors, cables and utility automation products and executes projects for power generation, transmission and electrification. It has eight manufacturing facilities in Bangalore, Faridabad, Haridwar, Mumbai, Nashik, and Vadodara.
ABB and IIT, Delhi signed an MoU for technology development and knowledge sharing through specific development projects and research in power and automation. The company bagged a turnkey order worth approximately Rs 4,300 million to provide an enterprise wide supervisory control and data acquisition (SCADA) system for ONGC; contracts worth Rs 3.11 billion power and automation systems from Grasim Industries and Ultratech Cement for installation of 220/132kV switchyards and supply of switchgears; a Rs 2.89 billion order by Delhi Metro Rail Corporation (DMRC) to supply the turnkey electrification package for Phase II of the Metro line spanning ten corridors across parts of New Delhi and surrounding areas of Gurgaon and NOIDA.
The company has a vast installed base, 26 marketing offices, 8 service centers and a national network of 400 channel partners. The corporate office and registered office are at Khanija Bhavan, 2nd Floor, East Wing, No. 49, Race Course Rd, Bangalore-560001.
Financials
The company announced a small rise in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company rose marginally by 6.82% to Rs 1,931.20 million from Rs 1,807.88 million in the same quarter previous year. Net sales for the quarter rose 20.21% to Rs 22,111.56 million, while total income for the quarter rose 18.89% to Rs 22,170.06 million, when compared with the prior year period. The company reported earnings of Rs 9.11 a share during the quarter, registering 6.80% growth over prior year period.
Recent Developments
12-JAN-09
The company announced that it had consolidated its presence in eastern India with inauguration of a global centre of excellence (CoE) located in Salt Lake, Kolkata.