Healthy growth in Q4 order inflow for Hitachi ABB Power Grids in India

Hitachi ABB Power Grids in India witnessed a 34.2 per cent year-on-year growth in order inflows during the fourth quarter (Q4: October to December) of 2020. Order inflow stood at Rs.826 crore as against Rs.615.30 crore in the same quarter of 2019.

Hitachi ABB Power Grids in India is listed on Indian stock exchanges as ABB Power Products & Systems India Ltd.

The order book in Q4 of 2020 was driven by utilities, industries, and transport. Utilities embracing digitalization and automation resulted in key wins in wide-area monitoring systems and the first order for transformer maintenance using our submersible robot. Additionally, the company had orders for power quality and traditional product offerings. The entire portfolio—from transformers to automation in various parts of the country— benefitted from the integration of renewables projects by public utilities and private power generators, Hitachi ABB Power Grids in India said in a release.

 

Order backlog

As of December 31, 2020, the company’s outstanding order backlog stood at Rs.4,954.80 crore.

 

Rail and metro

Reinforcing our strong presence in the railway segment, Hitachi ABB Power Grids in India received orders in the fourth quarter to power the country’s dedicated freight corridor. It also won contracts for traction and track-side transformers to be deployed in upcoming metro projects, while established operations such as the Delhi Metro focused on power quality to ensure the expanding network runs flawlessly.

 

Solid order intake, says N. Venu

“Despite turbulent market conditions, we registered a strong fourth quarter performance. Our continued customer engagement and conversion of opportunities resulted in a solid order intake, significantly higher than the same quarter of the previous year,” said N Venu, Managing Director – India, Hitachi ABB Power Grids.

“Opportunities in renewable integration, digitalization of power networks and sustainable transport solutions like rail and metro have helped us deliver a robust performance in an unprecedented year impacted by the COVID-19 pandemic. Fundamental growth drivers remain intact and we hope to grow faster than the market once the economic revival gathers pace,” Venu added.

 

Export orders

In an increasingly digital world, the company made the most of its local knowledge to deliver consulting services around the world. Hitachi ABB Power Grids in India also booked a breakthrough substation order in Bangladesh. On the whole, the company saw an 8.3 per cent year-on-year growth in exports, in Q4 of 2020.

(Featured photograph is for illustration only)