ABB India Ltd on Monday reported a 50% jump in its CY24 profit after tax (PAT) to ₹1,875 crore, up from ₹1,248 crore in CY23.

In Q4, CY24, PAT zoomed 54% year on year (YoY) to ₹532 crore, compared with ₹345 crore in the same quarter of the previous calendar year.

Highest ever orders worth ₹13,079 crore and revenue of worth ₹12,188 crore have led to a strong show by the company. Return on capital employed (ROCE) stood at 26.5%.

ABB India Board has recommended a final dividend of ₹33.50 per share. "This is in addition to the interim dividend of ₹10.66 per share declared in Q2 CY2024," ABB India said in a release.

India a vibrant market: ABB India MD

Commenting on the company’s performance, Sanjeev Sharma, Managing Director, ABB India said, “2024 has been another year of record high orders, revenue, and margins. This year, ABB India celebrates 75 years of manufacturing and Innovation in India, with an exhaustive production footprint, deep customer installed base and solid local supply chain."

"We continue to bring the best of global technology with local engineering and manufacturing for our customers and partners. I am proud of the ABB India team who have consistently delivered between 16% and 20% CAGR of top and bottom-line growth for the last five years through multiple capex cycles and geopolitical shifts," Sharma noted.

"Our relentless customer centricity enables us to grow alongside our partners. We follow “local for local” strategy with a diversified portfolio deployed in multiple, diversified customer segments. We stay prepared to navigate pockets of opportunities as they arise in India’s vibrant and broadening market base," Sharma added.

"Our growth areas are well balanced between core segments that follow capex cycles, emerging segments growing rapidly on a smaller base and steady growth segments to deliver consistent performance," he said.

"Sustainability in practice remains our focus in what we do to conserve resources in each dimension of our operation – a significant percentage of our supplier partners are committing to their green journeys as a force multiplier," stated Sharma.