Prabhudas Lilladher has maintained a hold rating on ABB India while raising the target price to ₹6,944 from the previous ₹6,523. According to the research report dated August 02, 2026, the brokerage has revised its EPS estimates by +0.7% for CY27E and +4.5% for CY28E, factoring in stronger-than-expected order inflows and improved revenue visibility. The stock currently trades at a P/E of 67.3x/55.5x on CY27E/28E.
ABB India reported mixed quarterly performance with revenue growing ~21% YoY to ₹35.6 billion, while EBITDA margin contracted 108bps YoY to 12.6% due to rupee depreciation, forex volatility and elevated raw material costs. As reported by Prabhudas Lilladher, order inflow surged ~50% YoY, led by Electrification (+77% YoY) driven by robust demand across data centres, buildings & infrastructure, metals & mining, renewables and process industries. The order backlog reached a record ₹119 billion, with ~40% executable over the next two quarters.
According to the research report, motion continued to witness healthy traction across railways, metros and industrial applications, while Process Automation remained supported by marine, refining and conventional power. Data centres continue to emerge as a key growth driver, supported by strong enquiries from hyperscalers and colocation players, capacity expansion and localisation at the newly commissioned Nelamangala facility. Despite commodity inflation, higher copper prices and forex volatility remaining near-term headwinds, recent price hikes and easing QCO-related disruptions are expected to support gradual margin recovery.
Prabhudas Lilladher maintains its 'Hold' rating, valuing the stock at a P/E of 58x Jun'28E (56x Jun'28E earlier), reflecting strong order momentum and improving structural growth opportunities across electrification, automation and data centres. The brokerage cited the company's strong order momentum and improving structural growth opportunities as key factors supporting the revised target price, despite near-term challenges from commodity inflation and forex volatility.
