Rs 23.80/Share Dividend Soon: Buy Engineering Stock As Order Inflows Swell 35%, TP Rs 6115: Jefferies

Leading brokerage firm Jefferies has upgraded the target price of Large cap company ABB India after robust financial performance to Rs 6115 apiece. ABB India witnessed healthy Q4 led by growth across segments. ABB India's order inflows increased 35% YoY and backlog stayed strong at Rs 84 billion.

Current market price of ABB India shares on BSE is Rs 5652.55 apiece with intraday gain of 0.37%. ABB India shares offered return of 162% in last 2-years and 70% in last 1-year. Earlier on Feb 20, 2024 ABB India recommended final dividend of Rs 23.80 per share of the face value of Rs 2/- each for financial year ended December 31, 2023. The record date for final dividend is May 4, 2024. Check details below:

Valuation: Jefferies retained 'Buy' rating and increased the target price to Rs 6,115 apiece as the order flow was up 35% y-o-y, highlighting robust revenue growth prospects. It said that the margins were flattish at 10 bps y-o-y improvement, but CY23 margins were up 303 bps y-o-y at 14.3%.

ABB India Declares Final Dividend: As per the BSE filing of the company dated February 20, 2024, "recommendation of final dividend of Rs.23.80 per share (Rupees Twenty Three and Eighty paisa only), i.e., (1190%) on 21,19,08,375 Equity Shares of face value of Rs.2/- each fully paid up for the financial year ended December 31, 2023, subject to shareholders' approval at the ensuing Annual General Meeting."

ABB India Sets Record Date For Final Dividend: Board of Directors of ABB India fixed May 4, as the record date. As per ABB's BSE filing, Rs 23.80 final dividend, if declared at the 74th Annual General Meeting, will be paid/dispatched after May 11, 2024.

ABB India Q4 Results: ABB India follows January to December as its financial year. The company announced its total revenue surged to Rs 2,757 crore for Q4 ended December 31, 2023 as against Rs 2427 crore in the similar quarter an year ago. ABB declared its total orders surged by 35% to Rs 3,147 crore in Q4. Meanwhile, In 2023 it bagged orders worth Rs 12,319 crore, up 23% over 2022. For the entire fiscal, ABB's PAT stood at Rs 1,248 crore, up over Rs 1,026 crore from last financial year and revenues rallied to Rs 10,447 crore, from Rs 8,568 crore a year ago.

ABB India Shares Performance & Return: The 52-week high price of ABB India shares on BSE is Rs 5679.25 apiece and 52-week low price is Rs 3143.20 apiece, respectively. The company has a market capitalisation of Rs 1,19,834.19 crore. ABB India shares soared 25% in last 2-weeks, gained 27% in last 6-months, and offered return of 280% in last 3-years. The scrip surged 421% in last 5-years.

About: ABB is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The company's solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered and operated, according to its official website.

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