ABB India (ABB IN) – Q4CY25 Result Update – Decent Q4, broad-based order recovery – Accumulate
Published on 24 Feb 2026
ABB is likely to face headwinds from QCO-related raw material challenges in the near term. However, we remain positive on ABB in the long run given: 1) rising demand for energy-efficient and premium-quality products, 2) its resilient business model, 3) focused growth in high-potential segments such as data centers, rail & metro, renewables, and electronics, and 4) a strong domestic order pipeline. The stock currently trades at a P/E of 63.5x/54.4x on CY26/27E. We roll forward to Mar’28E and maintain our ‘Accumulate’ rating valuing the stock at a P/E of 56x Mar’28E (56x Sep’27E) arriving at TP of Rs6,319 (Rs5,540 earlier).
