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ABB India Ltd.’s Q2 CY21 result stood in line with our expectations.
While the demand recovery was strong in June 2021, it lost 3-3.5 weeks of operations, which is reflected in its performance.
Capacity utilisation has now scaled up to 80- 85% across its different manufacturing locations, indicating that a gradual recovery is in progress.
While order inflows moderated sequentially, it stood healthy across all segments, with the systems and services business witnessing a strong growth in orders after a couple of quarters.
Order inflows across various end-markets grew at similar levels, with a recovery visible in the automotive segment.
ABB India’s management has demonstrated commendable control over cash flows and improved its balance sheet further.
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