Dear Sir/Madam,
ABB India Ltd. came out with its Q4FY13 results on 18th February 2014. The year ending of the company is on December. The company gives standalone results only.
The company gave good results beating the consensus estimates at all levels besides PAT & EPS. The revenue of the company grew by 5.85% YoY to INR 2204 crore. EBITDA rose by 125% YoY on efficient cost control measures exercised by the company. EBITDA margin for the quarter was at 6.8% up by 358bps on YoY basis. PAT increased by 250% YoY to INR 59 crore despite a fall in other income, higher interest costs, depreciation charges & tax expenses. PAT margin for the quarter was at 2.66% up by 185bps on YoY basis. On Annual performance scale; revenue increased by 2% YoY to INR 7722 crore followed by EBITDA which increased by 40% YoY to INR 470 crore & Pat which increased by 27% YoY to INR 174 crore. EBITDA & PAT margin for the year stood at 6.09% & 2.26% respectively. The same were up by 164bps & 44bps respectively on YoY basis.
On Segment scale; for the full year period, low voltage products followed by power systems generated the most revenue for the company where as process automation saw the decline. At PBT front, for the annual period, power systems & process automations turned profitable from losses in the last year & power products registered good growth where as low voltage products & discrete automation & motion registered de-growth for the period for the company.
Particulars
|
Consensus
|
Actual
|
Var (%)
|
Revenues
|
2078
|
2204
|
6.06%
|
EBITDA
|
132
|
149
|
12.88%
|
PAT
|
59
|
59
|
0.00%
|
EPS
|
2.80
|
2.76
|
-1.43%
|
ABB India Ltd. Q3FY14 Results
|
Annual Performance (FY13)
| |||||||
Description
|
Q4 FY13
|
Q3 FY13
|
Q4 FY12
|
QoQ (%)
|
YoY (%)
|
FY13
|
FY12
|
YoY(%)
|
Revenues
|
2204
|
1786
|
2082
|
23.40%
|
5.84%
|
7722
|
7565
|
2.08%
|
Total Expenditure
|
2054
|
1680
|
2016
|
22.25%
|
1.92%
|
7252
|
7229
|
0.33%
|
EBITDA
|
149
|
105
|
67
|
41.78%
|
124.45%
|
470
|
336
|
39.65%
|
EBITDA Margins
|
6.78%
|
5.90%
|
3.20%
|
88 BPS
|
358 BPS
|
6.09%
|
4.45%
|
164 BPS
|
Other Income
|
1
|
1
|
3
|
7
|
7
| |||
Operating Profit
|
150
|
106
|
69
|
477
|
344
| |||
Interest
|
29
|
27
|
18
|
101
|
43
| |||
PBDT
|
121
|
79
|
51
|
376
|
300
| |||
Depreciation
|
27
|
26
|
25
|
103
|
94
| |||
PBT
|
94
|
54
|
26
|
272
|
206
| |||
Tax
|
36
|
18
|
10
|
96
|
69
| |||
Profit After Tax
|
59
|
36
|
17
|
177
|
137
| |||
Exceptional Items
|
0
|
0
|
0
|
0
|
0
| |||
Impact of amalgamation related to previous year
|
0
|
2
|
0
|
2
|
0
| |||
PAT
|
59
|
33
|
17
|
76.53%
|
249.37%
|
174
|
138
|
26.88%
|
PAT Margins
|
2.66%
|
1.86%
|
0.81%
|
80 BPS
|
185 BPS
|
2.26%
|
1.82%
|
44 BPS
|
Equity Capital
|
42.38
|
42.38
|
42.38
|
42.38
|
42.38
| |||
Face Value (In Rs.)
|
2
|
2
|
2
|
2
|
2
| |||
No. of shares (in Crores)
|
21.19
|
21.19
|
21.19
|
21.19
|
21.19
| |||
Basic EPS
|
2.76
|
1.57
|
0.79
|
76.53%
|
249.37%
|
8.23
|
6.49
|
26.88%
|
Source: Company Data. All figures are in INR Crores.
| ||||||||
Segmental Results
|
Annual Performance (FY13)
| |||||||
Description
|
Q4 FY13
|
Q3 FY13
|
Q4 FY12
|
QoQ (%)
|
YoY (%)
|
FY13
|
FY12
|
YoY(%)
|
Segment Revenue
| ||||||||
Power Systems
|
676
|
453
|
599
|
49.20%
|
12.91%
|
2385
|
2242
|
6.37%
|
Power Products
|
644
|
520
|
584
|
23.94%
|
10.17%
|
2130
|
2085
|
2.16%
|
Process Automation
|
346
|
301
|
410
|
14.94%
|
-15.62%
|
1248
|
1357
|
-8.01%
|
Discrete Automation & Motion
|
497
|
455
|
493
|
9.19%
|
0.78%
|
1824
|
1775
| |
