Capital Goods - Electrical Equipment
Electric Equipment - General
from 7,600 today
We value ABB based on SOTP with a TP of INR6,500, wherein we value i) Motion business at 55x Jun'28 EPS with a TP of INR1709, ii) Electrification business at 65x Jun'28 EPS with a TP of INR4194, iii) Automation business at 60x Jun'28 EPS with a TP of INR743.
ABB’s results for 2QCY26 reflected outperformance on revenue and PAT, while EBITDA margin performance remained weak. We reiterate our Neutral rating on the stock with a TP of INR6,700.
ABB's results reflected outperformance on revenue and PAT, while EBITDA margin performance remained weak. Order inflows remained strong, taking the order book higher, but margins continued to face pressure from RM and forex volatility. We reiterate our Neutral rating on the stock with a TP of INR6,700.
ABB India reported a mixed quarterly performance with revenue growing ~21% YoY, while EBITDA margin contracted 108bps YoY. We maintain our 'Hold' rating with a revised target price of INR6,944, reflecting strong order momentum and improving structural growth opportunities.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
