ETMarkets.comPrabhudas Lilladher has accumulate call on India with a target price of Rs 3115.0. The current market price of ABB India is Rs 2803.35.
ABB India, incorporated in the year 1949, is a Large Cap company (having a market cap of Rs 57662.39 crore) operating in Engineering sector.
ABB India key Products/Revenue Segments include Switch Gear Items, Motors/Alternators/Generators, Others, Electronic Control And Supply Units For Variable Speed Drives, Erection & Other Services, Other Operating Revenue, Scrap, Commission for the year ending 31-Dec-2021.
Financials
For the quarter ended 30-06-2022, the company has reported a Consolidated Total Income of Rs 2123.15 crore, up 5.50 % from last quarter Total Income of Rs 2012.46 crore and unchanged .00 % from last year same quarter Total Income of Rs crore. Company has reported net profit after tax of Rs 145.67 crore in latest quarter.
Investment Rationale
The brokerage remains positive on ABB in long run, given is diversified business model, focus on high growth segment, organic as well as inorganic growth and healthy exports outlook. Given robust enquiry pipeline, increasing share of short cycle orders, penetration in Tier 3 & 4 markets driving volume growth across businesses and focus on operational efficiencies. It has revised earnings estimates upwards by 14%/8.5% for CY22/CY23. Stock is trading at PE of 91.9x/73.1x/60.2 CY22/23/24E. It rolled forward estimates to CY24 and upgraded rating to ‘Accumulate’ from Hold with revised TP of Rs 3,115 (Rs 2,293 earlier) valuing it at PE of 67x CY24E.
ABB India, incorporated in the year 1949, is a Large Cap company (having a market cap of Rs 57662.39 crore) operating in Engineering sector.
ABB India key Products/Revenue Segments include Switch Gear Items, Motors/Alternators/Generators, Others, Electronic Control And Supply Units For Variable Speed Drives, Erection & Other Services, Other Operating Revenue, Scrap, Commission for the year ending 31-Dec-2021.
Financials
For the quarter ended 30-06-2022, the company has reported a Consolidated Total Income of Rs 2123.15 crore, up 5.50 % from last quarter Total Income of Rs 2012.46 crore and unchanged .00 % from last year same quarter Total Income of Rs crore. Company has reported net profit after tax of Rs 145.67 crore in latest quarter.
Investment Rationale
The brokerage remains positive on ABB in long run, given is diversified business model, focus on high growth segment, organic as well as inorganic growth and healthy exports outlook. Given robust enquiry pipeline, increasing share of short cycle orders, penetration in Tier 3 & 4 markets driving volume growth across businesses and focus on operational efficiencies. It has revised earnings estimates upwards by 14%/8.5% for CY22/CY23. Stock is trading at PE of 91.9x/73.1x/60.2 CY22/23/24E. It rolled forward estimates to CY24 and upgraded rating to ‘Accumulate’ from Hold with revised TP of Rs 3,115 (Rs 2,293 earlier) valuing it at PE of 67x CY24E.
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