ABB India has growth of around 15% during March 2024 Quarter (1st quarter as it follow calender year as accounting year) as compared with parent company growth of only 5% during first quarter from India region. The parent company declared results before Indian subsidiary. Enclosed is link for Business standard article explaning substantial decline in ABB India share price following release of ABB Global result, which show 5% growth in India Region order.
However, ABB India results declared in May 2024 were much better growth in order book and substantial improvement in Sales and Net profit. In the presentation for March 2024 quarter, Indian management attemped to reconcile the difference in order book for ABB India (listed company) and ABB Global. Find enlosed slide as well as Management commentary discussing and explaining the variance. Personally I found it very interesting and keep on my record for future learning (while adpating Parent results and applying same to Indian Listed subsidiary. Thought to share on forum as may be interesting learning for all member.
ABB Global and India business Comparison Quarter May 2024 Presentation.pdf (495.3 KB)
Disclosure: ABB is among my Top 4 holding. My view may be positively biased. I am not a SEBI registered advisor. I am not suggesting any investment action. I may increase/decrease or exit from ABB India investment WITHOUT INFORMING the forum.
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