Thursday, May 8, 2008
gem worth investing - ABB
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ABB
ABB, a leading player in the power equipment (transmission and distribution) and industrial automation technology businesses, reported strong growth for the year ended December 2007, wherein revenues shot up by 39 per cent to Rs 5,930 crore (Rs 59.3 billion) and order backlog was up 49 per cent at Rs 5,020 crore (Rs 50.2 billion) followed by a 100 basis points improvement in operating margins to 12.2 per cent.
Such robust growth is expected to continue and orders are expected to flow in for the next few years, given growth in the power sector (in India as well as globally) and investments in sectors such as minerals, energy, oil and gas in emerging markets, driving demand for its automation division.
The Indian power sector is expected to witness investments of Rs 6,16,300 crore (Rs 6,163 billion) during the Eleventh Plan period (ending 2012), out of which the transmission and distribution sector ? the target market for ABB ? is allotted Rs 1,74,300 crore (Rs 1,743 billion).
After completing its $100 million capex and augmenting its manufacturing facilities, ABB has announced yet another investment of a similar amount, spread over the next 18 months. ABB's parent expects the business from its Indian operations to double by 2010, which is an indication of robust growth for ABB going forward.
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This post was written by: Franklin Manuel
Franklin Manuel is a professional blogger, web designer and front end web developer. Follow him on Twitter
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