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ABB India reported muted revenue growth of INR 29 billion, up 5% YoY, marking a significant slowdown compared to previous quarters. The order inflow for the quarter was INR 34 billion, an 11% increase YoY, contributing to a backlog of INR 100 billion. Despite positive margin surprises with an EBITDA margin of 18.6%, the stock is trading at 75x CY25E earnings, prompting a REDUCE rating with a revised target price of INR 6,700 per share.
Dabur is currently trading at 46x/40x on FY26/FY27E P/E, with a 2-3% EPS trim for FY25-27E. Despite a slight miss in Q2FY25 results due to distributor inventory corrections and adverse weather impacting beverage sales, the company anticipates a recovery in revenue growth and stable margins in H2FY25. Analysts maintain a positive outlook, citing favorable risk-reward dynamics following a stock price correction.
ABB India is set to announce its Q3 results on November 4, with expectations of a 17% year-on-year revenue increase to approximately Rs 3,243.1 crore, driven by strong order inflow and execution in the Motion & Electrification segment. Net profit is projected to rise by 10% to Rs 483.3 crore, alongside an EBITDA margin expansion from 15.8% to 18.2%. Most brokerages maintain a positive outlook on the stock due to robust order flows.
ABB India Limited
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