ABB India Limited has seen an increase in orders in the calendar year 2021 by Rs. The company said on Friday that orders worth Rs 7,666 crore were received in the December quarter alone, while orders were worth Rs 2,243 crore.
The company reported revenue of Rs 6,934 crore for the full year, a growth of 19% over 2020. It posted revenue of Rs 2,101 crore for the quarter, up 24% over the same period a year ago. Its full-year net profit jumped 131% to Rs 532 crore and fourth quarter net profit jumped 211% to Rs 194 crore.
ABB’s portfolio of products, solutions and services increased 53% in the fourth quarter, compared to a 29% increase in its full-year orders.
“Team in India has developed a strong order and liquidity position (Rs 2,688 crore), which is driving margins and bottom-line with the help of a strategic product mix with growth market segments, ABB India Managing Director Sanjeev Sharma said in a statement. helps to improve.
“2021 was a year that demonstrated our resilience. The performance on all key parameters was excellent across all business divisions. Our agile business model helped it overcome the pandemic and global supply chain challenges in the first half. Business fundamentals improved further in the second half of the year,” he said.
In Q4, the Process Automation business saw good order flow across all divisions. Traction in the steel and paint industry and downstream units saw orders increase by 175% to Rs 770 crore as compared to Q4 2020. Both the Motion and Electrification business segments posted healthy double-digit growth supported by strong contributions from Smart Power. , channel business, exports, penetration and packaging in Tier 2 and 3 cities, according to the company.