Q2 2024 ABB India Ltd Earnings Call Transcript
Key Points
- Orders and revenues grew by 13%, indicating strong market momentum.
- Profit after tax expanded by 50% due to revenue mix and superior order execution.
- Operational EBITDA increased by 64% for the quarter.
- Export orders grew by 39%, showing strong international demand.
- The company remains debt-free with a strong cash balance of INR 4,872 crores.
- Base orders were slightly weaker in the first half, partly due to election and budget delays.
- Revenue growth was impacted by a delay in project schedules and customer decisions.
- Employee costs and other expenses grew at a higher rate than sales growth.
- Material cost advantages due to commodity price stabilization may thin down in the future.
- The building sector faced challenges, with a reported market de-growth of 18% in residential apartments.
Ladies and gentlemen, good day, and welcome to ABB India Limited Q2 April to June quarter and half yearly CY 2024 earnings conference call. (Operator Instructions) Please note that this conference is being recorded. Any unauthorized recording of this call is strictly prohibited. The recording will be made available on the company's and SEBI's website.
I now hand the conference over to Mr. TK Sridhar, Chief Financial Officer of ABB India Limited. Thank you, and over to you, sir.
Thank you, Michelle. Very good morning to all of you, ladies and gentlemen. Welcome to the Q2 April to June investor call. So I have with me here, Mr. Sanjeev Sharma, MD of ABB in India. So I have also Sanjeev Arora, who leads the motion division, and I have Kiran Dutt and Ganesh Kothawade from electrification business, and Subrata Karmakar from robotics.
So over to you, Sanjeev, just to start off to give feedback as to how the quarter went.
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