ABB Q1 FY26 earnings call.
A source-linked concall view: reported numbers, management language, guidance, commitments and risks that should carry forward.
ConCallIQ research layer
Signal, with the source still visible.
Use the controls below to narrow the view, then follow the evidence into the next layer of context.
Revenue
₹2,940 Cr
verified against source
Revenue YoY
12%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
ABB India reported a mixed Q2 CY2025 with revenue of ₹3,317.5 crore (+12% YoY), driven by strong execution and a record order backlog of ₹10,764 crore. However, profitability was impacted by one-offs: a ₹39.5 crore provision in electrification and ₹56.5 crore forex loss, compressing margins. Base orders grew 5% YoY, but large orders remained absent due to delayed private capex and cautious investment sentiment. Management described the quarter as a temporary breather, with a cautiously optimistic outlook for H2, expecting a gradual recovery in large projects. Key risks include sustained QCO compliance costs, Chinese competition in process automation, and forex volatility. The interim dividend of ₹9.77 per share was declared.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects continued mix of imported and localized content over next 6 months to meet QCO deadlines, pressuring margins.
- Management sees reasonable pipeline of large projects, expecting conversion in Q3/Q4 CY2025.
- Management reiterated the 12-15% PAT margin band as a directional target, but noted near-term headwinds from QCO and forex.
Risks flagged
- QCO guidelines require imported content to meet delivery commitments, increasing costs and pressuring margins for next few quarters.
- Analyst raised concern about Chinese imports; management confirmed participation in heavy equipment segments with unrealistic pricing, leading to lost orders.
- Euro and CHF appreciated >10% in the quarter, causing ₹56.5 crore forex loss; management noted difficulty in passing on volatility to customers.
- Large order decisions postponed due to global uncertainty; management expects recovery only by next year.
Key quotes
- We have a very strong balance sheet at this point of time and also good momentum for our portfolio within the company so much so that for the first time our backlog is above 10,000 crores.
- This was very specific quarter where we had this particular impact and this is something what everyone is working around to understand how we should mitigate this going forward.
- We do see participation from the Chinese manufacturers in the marketplace and some of the corporates when they are deciding they are bringing them into the mix of buying as a possibility from Chinese players.
Research modules