Financial Daily from THE HINDU group of publications
Wednesday, Jul 23, 2003
Financial Daily from THE HINDU group of publications Wednesday, Jul 23, 2003 |
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Corporate
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Performance Columns - Microscope ABB India riding on the back of power reforms Sowmya Sundar
IT was yet another quarter of impressive performance for ABB India. The company's performance has been constantly improving over the past few quarters on the back of faster implementation of the power sector reforms. ABB's turnover increased not only on quarter-on-quarter basis but also on a sequential basis, an indicator of the improving prospects for the company. However, operating margins are showing signs of strain. The growth at the net level is good even after adjusting for one-time items.
A quantum jump in orders booked as well as orders on hand indicates that the company will continue the upward growth curve in the next couple of quarters too. Orders on hand at the end of June 2003 at Rs 1,073.2 crore is 22 per cent higher than the order backlog at the beginning of the year and 30 per cent higher than the backlog a year ago. The orders booked for the quarter recorded a 44 per cent growth. Of the orders booked during the first half, one-fourth was overseas orders. Export orders booked more than doubled as compared to the previous half year. The passage of the Electricity Bill has opened up the opportunities in the Indian market. Given its success in overseas markets and the favourable scenario in the domestic market, the growth momentum would continue at least for the next 3-4 quarters.
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