-By the Lighting India content team
On the 30th of March ABB Power Grids business announced the listing of its Indian arm on the BSE Limited (Bombay Stock Exchange) and the NSE (National Stock exchange) of India as ABB Power Products and Systems India Limited. The company has de-merged with effect on the 1st of December 2020 from ABB India Ltd, hence being called an independent entity.
Venu, Country Managing Director, ABB Power Grids in India, said: “This is a key milestone for us; We have been active in India for over six decades, serving the country and also the global markets. We have an extensive country-wide presence with around 4,500 dedicated employees across five manufacturing sites, twelve branch offices and research and development center on the subcontinent. We aim to support India’s power infrastructure development and continue shaping the future of sustainable energy, with pioneering technologies enabling stronger, smarter and greener grid.”
From April to December 2019, the business had total revenue of Rs. 3,231 crore, with a profit before exceptional items and tax of Rs. 261 crore (PBT at Rs.221 crore).