ABB India – the India arm of global electrification and automation leader ABB says the emerging data centre business in the country is a sweet spot for the company, while sectors such as electronics manufacturing and water also offer growth prospects to the company.

ABB India Country Head and MD Sanjeev Sharma, who made to the Fortune India Best CEO list of 2024 on the back of stellar performance by the company in the last three years, says the company has expanded to 23 market segments.

In CY23, the company’s gross sales stood at ₹10,367 crore, (CAGR of 21.2%), while profit after tax was ₹1,242 crore.

Sharma attributes profitability boost to global portfolio restructuring done in 2019, divesting power grids business to Hitachi and solar inverter business to FIMER SpA and focussing more on electrification, energy efficiency, manufacturing and process automation. “Our portfolio became fast moving industrial goods, where we could deliver quickly and also convert our deliveries into cash quickly. So that is the kind of model change which happened in our business at the fundamental level,” Sharma says.