ABB India Limited (ABB) Q2 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

ABB India Limited Q2 Results Date and Time

The board will meet on November 13, 2026, to consider the un-audited Q3 CY2026 (July-September 2026) financial results, per the company's October 29, 2026 intimation. The filing was signed by Company Secretary Trivikram Guda.

ABB India will hold its analyst call on Monday, November 16, 2026, from 10:30 to 11:30 hrs IST. The company stated that no unpublished price-sensitive information would be shared on the call.

What to expect from ABB India Limited's Q2 FY27 results

The quarter's central test is margin: Q2 CY2026 closed with a 10.4% PAT margin, 160 bps below the floor of management's open-ended 12%-15% corridor, and the conditions management attached to margin repair — material costs, metal prices and forex staying at today's levels — were not met, with LME copper hitting records (spot +46.3% YoY in August), the rupee weakening from ~94.5 to ~96/USD across September, and Brent holding above $100-108 for most of the month.

Revenue conversion is the stronger leg: ABB enters the quarter with a Rs. 11,898 Cr backlog (+22% YoY) and a commitment that at least 40% of the ~Rs. 11,900 Cr book converts to revenue in the two quarters following Q2 CY2026, supported by electrical-equipment IIP growth of +28.3% to +33.9% across July-September and data centers contributing 15%-17% of prior-quarter orders.

Material cost stood at 63% of revenue versus 60% a year ago, with commodities and the rupee blamed for roughly 2 percentage points of that walk, and management has said pricing power has 'reached a saturation point', so repair must come from volume velocity and capacity absorption rather than price. Offsets include the QCO-stocked imported material consumed over two quarters and the roll-off of the QCO overhang, which management said 'has relaxed significantly' with testing 'largely completed'.

H1 CY2026 revenue grew 13% YoY against a double-digit 2026 growth guide, while Automation remains the soft spot with backlog down 1% YoY amid sluggish customer capex decision-making. The November 16 call is also the first results call before the CFO transition, with Suneel Kumar Munaga taking over as CFO on January 1, 2027, and T.K. Sridhar designated Managing Director from the same date.

Key Things To Watch

Performance vs guidance tracking: Where management's stated goals stood entering this quarter:

• PAT margin corridor 12%-15% (open-ended) — Q2 CY2026 printed 10.4%, 160 bps below the corridor's lower end; watch whether management reiterates or re-times the corridor
• Double-digit revenue growth for 2026 (contingent target) — H1 CY2026 revenue grew 13%; watch whether management reaffirms for the full year
• Mid-teen EBITDA margins — management declined to commit a specific target; watch whether the deferral continues
• QCO resolution — earlier guided as 'three to four quarters' (November 2025), then 'next two quarters'; by the Q1 FY 2026-2027 call the situation had 'relaxed significantly' with testing 'largely completed', though 'QCO is not behind us'

Order book consumption and data center momentum

• At least 40% of the ~Rs. 11,900 Cr order book is slated for consumption in the two quarters following Q2 CY2026 — watch revenue conversion and backlog versus Rs. 11,898 Cr
• Data centers contributed 15%-17% of Q2 CY2026 orders; watch the pipeline versus the government's 2 GW annual data center target and 100-200 MW hyperscale discussions with delivery schedules through 2026, 2027 and 2028
• Capacity expansion timeline versus management's acknowledgment it could struggle to meet data center demand by 2027-2028; new Nelamangala factory took manufacturing locations from 5 to 6

Margin recovery and commodity/forex conditionality

• Operating leverage expected over 'the next two quarters' — watch for any quantification toward mid-teen EBITDA margins
• Management's margin outlook hinges on material costs, metal prices and forex staying at current levels; material cost was 63% of revenue versus 60% in Q1 2025
• Two price increases implemented, but on short-cycle orders 'the price hike which we take today is not valid next quarter because of the commodity and the forex rates move faster than the price hikes'

Automation segment recovery

• Automation orders were subdued with slow customer decision-making; Q2 CY2026 Automation backlog still down 1% YoY at Rs. 2,224 Cr
• Process automation order book was flagged at 2022 levels; management said performance was in line with segment development and the pipeline is 'building up nicely'

CFO transition and capex execution

• Suneel Kumar Munaga appointed CFO effective January 1, 2027 (announced October 6, 2026); T.K. Sridhar designated Managing Director from the same date — watch for transition commentary
• USD 75-80 million capex program to expand manufacturing and R&D, excluding the Hyderabad labs, aimed at maintaining 15-20% capacity headroom with utilization between 80-90%

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Frequently Asked Questions

Why are ABB India's margins under pressure even as orders grow?

Orders grew 50% YoY in Q2 CY2026 and 36% in H1, but H1 PAT fell 11% and the operational EBITA margin compressed to 12.8% from 14.7%. Management attributed the pressure partly to material costs at 63% of revenue versus 60% a year earlier, along with QCO-related costs, forex volatility and geopolitical disruptions.

When does ABB India expect margins to return to mid-teen levels?

Management said operating leverage should provide better leverage over the next two quarters, but it is 'not yet comfortable providing a specific target for mid-teen EBITDA margins'. It added that margins depend on material costs, metal prices and forex staying at today's levels.

How exposed is ABB India to the data center build-out?

Data centers contributed 15%-17% of Q2 CY2026 orders and were quantified at 10%-11% of the Rs. 10,471 Cr backlog as of the Q3 FY 2025-2026 call, within a 12%-16% band. Management is investing in capacity, including a new Nelamangala factory, and is in discussions for 100-200 MW hyperscale projects with deliveries through 2026, 2027 and 2028.

Is ABB India on track for double-digit revenue growth in 2026?

H1 CY2026 revenue grew 13% YoY, tracking the double-digit growth guidance that is contingent on market conditions and order finalization in 2026. At least 40% of the ~Rs. 11,900 Cr order book is slated for consumption in the two quarters following Q2 CY2026.

What is the status of the QCO issue that affected ABB India's costs?

By the Q1 FY 2026-2027 call, management said the situation 'has relaxed significantly' and testing was 'largely completed', though it noted 'QCO is not behind us'. Imported material stocked in 2025 is being consumed over roughly two quarters, which kept material costs slightly elevated.