Financial Performance Overview

ABB India Limited reported its financial results for the second quarter (April-June) of calendar year 2026, showing strong growth in orders and revenues with resilient profitability despite cost pressures.

Orders Performance

  • Q2 CY2026 Orders: ₹4,363 crore (record Q2), representing 50% year-on-year growth compared to Q2 CY2025 (₹2,917 crore)
  • H1 CY2026 Orders: ₹8,643 crore, up 36% compared to H1 CY2025 (₹6,342 crore)
  • Order growth was driven by strong performance across all Business Areas, particularly:
  • Base orders in Electrification division
  • Increase in export orders in Motion and Automation divisions
  • Strong demand across core and emerging segments including metals and mining, data centers, renewables, food and beverage, cement, automotive, and building infrastructure

Key Orders Highlights

Specific notable orders included:

  • Low and medium voltage switchgears and Ring Main units for data centers
  • Smart power products for renewable energy
  • Electrics and drives for container terminals
  • E-houses for metals major
  • Propulsion equipment for locomotives

Order Backlog

  • Q2 CY2026 Backlog: ₹11,898 crore, up 22% year-on-year from Q2 CY2025 (₹9,733 crore)
  • The backlog is well-distributed across segments, providing strong revenue visibility for coming quarters
  • Compared to Q1 CY2026 (₹11,094 crore), the backlog increased by approximately 7%

Revenue Performance

  • Q2 CY2026 Revenue: ₹3,559 crore (highest ever Q2), representing 21% year-on-year growth compared to Q2 CY2025 (₹2,940 crore)
  • H1 CY2026 Revenue: ₹6,743 crore, up 13% compared to H1 CY2025 (₹5,950 crore)
  • Revenue growth was driven by effective price management and increased volumes across Electrification divisions
  • Motion division saw contributions from all divisions
  • Automation revenue traction was led by Energy Industries division
  • Key revenue-driving segments included buildings and infrastructure, data centers, metals and mining, food and beverage, renewables, energy and chemicals

Profitability Metrics

Operational EBITA:

  • Q2 CY2026: ₹461 crore, up 23% year-on-year from Q2 CY2025 (₹376 crore)
  • H1 CY2026: ₹865 crore, down 1% year-on-year from H1 CY2025 (₹877 crore)
  • Operational EBITA Margin: 13.0% in Q2 CY2026, increased by 20 basis points from Q2 CY2025 (12.8%)

Profit Before Tax (PBT):

  • Q2 CY2026: ₹499 crore, compared to ₹461 crore in Q2 CY2025 (8% growth)
  • H1 CY2026: ₹961 crore, compared to ₹1,075 crore in H1 CY2025 (11% decline)
  • PBT Margin: 14.0% in Q2 CY2026, compared to 15.7% in Q2 CY2025

Profit After Tax (PAT):

  • Q2 CY2026: ₹370 crore, up 8% year-on-year from Q2 CY2025 (₹343 crore)
  • H1 CY2026: ₹712 crore, down 11% year-on-year from H1 CY2025 (₹800 crore)
  • PAT Margin: 10.4% in Q2 CY2026, compared to 11.6% in Q2 CY2025

Margin Drivers and Challenges

The margin improvement was supported by:

  • Positive impact from volume growth on operating leverage
  • Continuous cost optimization efforts

Margin pressures included:

  • Increase in input costs (freight and energy)
  • Commodity cost inflation (copper, silver, electrical steel)
  • Revenue mix changes
  • Time lag in transmitting price revisions to the market
  • Mark-to-market movements and foreign exchange volatility affecting PBT growth

Tax Information

  • Q2 CY2026 Tax Cost: ₹128.7 crore with Effective Tax Rate (ETR) of 25.8%
  • H1 CY2026 Tax Cost: ₹248.7 crore with Effective Tax Rate (ETR) of 25.9%

Earnings Per Share (EPS)

  • Q2 CY2026 EPS: ₹17.46, up 8% from Q2 CY2025 (₹16.17)
  • H1 CY2026 EPS: ₹33.61, down 11% from H1 CY2025 (₹37.75)

Dividend Declaration

The Board of Directors declared a special dividend of ₹90.00 per equity share of face value ₹2.00 each, reflecting:

  • Proceeds from the Robotics divestment
  • Operational profits for H1 CY2026

Sustainability Initiatives

ABB India demonstrated significant progress in sustainability during H1 CY2026:

Emissions Reduction:

  • Reduced Scope 1 and 2 greenhouse gas emissions by approximately 85% (YTD versus 2019 baseline)
  • Committed to achieving 100% renewable electricity

Circularity:

  • 99.7% of waste diverted from landfill in H1 CY2026

Water Stewardship:

  • Launched AWS certification for Peenya facility
  • Collaborated with approximately 40 suppliers in Bengaluru to strengthen water stewardship practices across supply chain

External Recognition:

  • Named India's Most Sustainable Company in Capital Goods category by Business Today India's Most Sustainable Companies Awards 2026
  • Improved CRISIL ESG Rating from 64 to 67

Management Commentary

Sanjeev Sharma, Country Managing Director, commented:

  • Record orders reflect customer confidence in ABB India's technologies and execution capabilities
  • 21% revenue growth and 23% Operational EBITA increase demonstrate ability to convert demand into profitable growth
  • Strong cash generation during the quarter
  • Entering second half with confidence supported by strong backlog and active opportunity pipeline
  • India's ongoing investments in infrastructure, manufacturing, energy transition, and digitalization create long-term opportunities
  • Well positioned to capture growth through technology leadership, local expertise, and execution excellence

Outlook

  • India's capex cycle maturing from cyclical upswing to structural, multi-year theme
  • Key growth anchors: electrification, automation, digitalization, grid modernization, energy transition
  • Demand expected to remain fundamentally sound through H2 CY2026
  • Near-term margins exposed to commodity cost volatility, competitive intensity, currency movements, and geopolitical uncertainty
  • Company well positioned through diversified portfolio, strong order backlog, local manufacturing capabilities, and proven execution track record
  • Focus on converting demand into sustainable and profitable growth in line with ABB Group priorities

Financial Summary Table

| Key Figures (INR Crores) | Q2 CY2026 | Q2 CY2025 | Q1 CY2026 | H1 2026 | H1 2025 | CY 2025 |

| Orders | 4,363 | 2,917 | 4,280 | 8,643 | 6,342 | 12,899 |

| Order backlog | 11,898 | 9,733 | 11,094 | 11,898 | 9,733 | 9,709 |

| Revenues | 3,559 | 2,940 | 3,184 | 6,743 | 5,950 | 12,504 |

| Profit before tax | 499 | 461 | 462 | 961 | 1,075 | 2,162 |

| Profit before tax % | 14.0 | 15.7 | 14.5 | 14.2 | 18.1 | 17.3 |

| Profit after tax | 370 | 343 | 342 | 712 | 800 | 1,618 |

| Profit after tax % | 10.4 | 11.6 | 10.7 | 10.6 | 13.4 | 12.9 |

| Operational EBITA* | 461 | 376 | 404 | 865 | 877 | 1,735 |

| Operational EBITA %* | 13.0 | 12.8 | 12.7 | 12.8 | 14.7 | 13.9 |

Note: Operational EBITA represents income from operations excluding acquisition-related amortization, restructuring costs, and certain other non-operational items as defined in the document.