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ABB: Surge in order inflows - Views on News from Equitymaster
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ABB: Surge in order inflows
Nov 9, 2015

ABB Ltd has announced third quarter results for financial year 2015 (It is a December ending company). The company has reported 6.5% YoY growth in sales. Profit after tax has increased by 31% YoY. Here is our analysis of the results.
Performance summary
  • Sales for the company increased by 6.5% YoY during 3QCY15.
  • Operating profit increased 26% YoY during the quarter as margins increased by 1% to 6.5% YoY.
  • The increase in operating margins along with a fall in interest expenses led to a 31% YoY increase in net profits during the quarter.

Standalone financial performance

(Rs m) 3QCY14 3QCY15 Change 9mCY14 9mCY15 Change
Total operating income 18,214 19,397 6.5% 54,258 56,312 3.8%
Expenditure 17,208 18,132 5.4% 51,192 52,658 2.9%
Operating profit (EBDITA) 1,005 1,264 25.8% 3,066 3,653 19.2%
Operating profit margin (%) 5.5% 6.5%   5.7% 6.5%  
Other income 246 298 21.0% 717 863 20.3%
Interest 275 250 -9.3% 750 704 -6.1%
Depreciation 283 359 26.7% 836 1,156 38.3%
Profit before tax 693 954 37.6% 2,197 2,656 20.9%
Tax 243 366 50.6% 753 951 26.3%
Profit after tax/(loss) 450 587 30.6% 1,444 1,705 18.1%
Net profit margin (%) 2.5% 3.0%   2.7% 3.0%  
No. of shares         211.9  
Basic & diluted earnings per share (Rs)*       12.0  
P/E ratio (x)*         103.4  

* On a trailing 12 month basis.

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