ABB India Limited 's Board of Directors, at its meeting held on May 8, 2026, approved two significant leadership changes set to take effect from January 1, 2027. The Board unanimously resolved to seek shareholders' approval for the appointment of Mr. TK Sridhar as Managing Director and the transition of Mr. Sanjeev Sharma into a Non-Executive, Non-Independent Director role. Both appointments are subject to shareholders' approval, to be sought through a Postal Ballot.

Key Leadership Appointments at a Glance

The following table summarises the key details of the two appointments approved by the Board:

TK Sridhar Appointed as Managing Director

Based on the recommendation of the Nomination and Remuneration Committee, the Board approved the proposal to appoint Mr. TK Sridhar (DIN: 06960804) as Managing Director with effect from January 1, 2027, for a term of 5 consecutive years, subject to shareholders' approval. The Board noted that the proposed appointment is aimed at ensuring continuity in top leadership, strategic execution, and long-term value creation for all stakeholders.

In recommending Mr. TK Sridhar, the Board took into account his extensive experience with the Company, his role as Chief Financial Officer, and his deep understanding of the Company's business operations, financial performance, governance framework, and strategic priorities. Key highlights of his profile include:

• Over three decades of professional experience in business and finance leadership
• Associated with the ABB Group since 1994, having held multiple leadership roles across finance and business functions
• Expertise in financial strategy, business operations, governance, investor relations, and transformation initiatives
• Led large-scale initiatives including financial transformation programs, mergers and acquisitions, and governance framework strengthening
• Contributed to sustainability and ESG initiatives within the Company
• Holds a commerce background with a focus on finance and accounting; is a Certified Independent Director
• Has undertaken executive leadership programmes from reputed global institutions

Mr. TK Sridhar is not related to any Directors and Key Managerial Personnel of the Company.

Sanjeev Sharma Transitions to Non-Executive Role

The term of Mr. Sanjeev Sharma (DIN: 07362344) as Managing Director will conclude on December 31, 2026. The Board placed on record its appreciation for Mr. Sharma's outstanding contribution during his tenure, marked by consistent business performance, key strategic initiatives, and strong governance practices.

With a view to continuing to benefit from Mr. Sharma's deep knowledge of ABB's business, particularly in India, the Board approved his appointment as a Non-Executive, Non-Independent Director with effect from January 1, 2027, for a term of 2 years, subject to shareholders' approval. Mr. Sharma will be liable to retire by rotation in this capacity. Key highlights of his profile include:

• Over three decades at ABB, with career experience spanning engineering, operations, product management, and business leadership roles in Europe, Asia, and India
• Led an ABB global business with manufacturing and operational footprint spanning more than 29 countries worldwide
• Chairs the board of ABB R&D in India and ABB Services
• Electrical and telecommunications engineer with advanced management education from IMD, Switzerland, and INSEAD
• Focused on strengthening governance and safety, advancing digitalization and Industry 4.0, enabling electric mobility, and accelerating adoption of emerging technologies

Mr. Sanjeev Sharma is not related to any Directors and Key Managerial Personnel of the Company.

Postal Ballot and Procedural Details

The Board also approved a Postal Ballot Notice to seek shareholders' approval for both appointments. The Postal Ballot Notice will be filed with the Stock Exchanges separately and dispatched to shareholders in due course, in accordance with applicable law. The Board meeting commenced at 2.30 p.m. and concluded at 4.15 p.m. on May 8, 2026. The Company has confirmed that neither Mr. TK Sridhar nor Mr. Sanjeev Sharma is debarred from holding the office of Director by virtue of any order passed by SEBI or any other statutory authority.

ABB India Limited reported its financial results for the first quarter ended March 31, 2026, with the Board of Directors approving the results at its meeting held on May 8, 2026. The company posted a consolidated net profit of ₹1,783.65 crores for the quarter, significantly higher than ₹474.63 crores in the corresponding quarter of the previous year, driven primarily by a substantial one-time gain from the sale of its Robotics business classified under discontinued operations. On a continuing operations basis, the quarter marked a solid start to CY2026 with strong order momentum, even as profitability was impacted by elevated input costs, forex volatility, and revenue mix. The results were reviewed by statutory auditors M/s B S R & Co. LLP and filed with BSE Limited and the National Stock Exchange of India Ltd in compliance with Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

"ABB India has built a strong and resilient foundation, anchored in our product, service and technology capabilities. This strength was reflected in a solid first quarter of CY2026, with healthy order traction and revenue growth driven by demand momentum across emerging and core industries. Our effective conversion of market opportunities into higher order inflows has further strengthened our diversified order book and enhanced revenue visibility," said Sanjeev Sharma, Country Head and Managing Director, ABB India.

Financial Performance Overview

The following table presents the key consolidated financial metrics for the quarter ended March 31, 2026, compared with the preceding quarter and the corresponding quarter of the previous year (₹ in Crores):

Revenue from continuing operations stood at ₹3,184.06 crores for the quarter, reflecting 6% year-on-year growth compared to ₹3,010.07 crores in the corresponding quarter of the previous year. Profit from continuing operations after tax came in at ₹341.91 crores, compared to ₹457.31 crores in the year-ago period, a decline of 25% YoY. Total expenses for the quarter were ₹2,821.83 crores, with material costs rising to 61.3% of revenue from 57.6% in Q1 CY2025, driven by higher commodity inflation, rupee depreciation, and revenue mix. Personnel expenses stood at ₹252.86 crores and other expenses at ₹571.09 crores for the quarter. The following table presents standalone key figures including Operational EBITA for continuing business (INR Crores):

Profitability was impacted by an adverse revenue mix, execution of lower-margin orders, and elevated input costs amid forex volatility and slower project execution. Geopolitical tensions in West Asia led to limited export disruptions but materially increased logistics complexity across the value chain, resulting in higher costs and elongated supply timelines.

Order Momentum and Backlog

ABB India witnessed strong demand momentum in Q1 CY2026, with total orders received rising 25% YoY to INR 4,280 crore. The following table summarises order performance (INR Crores):

Order growth was broad-based, with demand from emerging segments including data centers, renewables, transport, and buildings & infrastructure. The order backlog at the end of the quarter stood at INR 11,094 crore, up 17% YoY, providing strong revenue visibility. The quarter witnessed growth in opportunities from emerging industries like data centers and renewable energy, while orders from railways and metros, core industries like metals and mining, energy and chemicals, as well as food and beverage saw limited growth on a higher base. Key order wins during the quarter included:

• Low tension panel, packaging and e-house including UPS and auxiliary power equipment for a data center major
• Propulsion system and power distribution equipment for metro rail networks
• Gas insulated switchgears for smart city projects
• Low-voltage and medium-voltage energy efficient drives and power distribution equipment for a metals major
• Smart power products for a wind major
• Motion products for a solar inverter manufacturer
• Rectifiers for a chemicals and pharmaceutical trading major
• Modernization and human machine interface (HMI) automation upgrades for a state utility
• Electrification and distribution solutions for leading packaged foods majors

Discontinued Operations and Robotics Business Sale

The quarter's overall profitability was significantly elevated by the divestiture of the Robotics business. The Board of Directors, at its meeting held on January 26, 2026, approved the sale of the company's shareholding in ABB Robotics India Private Limited to ABB Robotics Schweiz AG, Switzerland for a consideration of ₹1,00,000, and the subsequent slump sale of the Robotics business to ABB Robotics India for ₹1,568.20 crores. Shareholders approved the transaction through a postal ballot on February 27, 2026, and the business transfer arrangement was executed on March 1, 2026. The company recorded a profit on sale of ₹1,658.48 crores, representing the difference between the sale consideration received and the net assets of the Robotics business as at the date of transfer. This has been disclosed as 'Profit from Discontinued Operations' in accordance with Ind AS 105. Consequently, profit from discontinued operations (after tax) for the quarter stood at ₹1,441.74 crores, compared to ₹17.32 crores in the corresponding quarter of the previous year. Cash balance (excluding Robotics proceeds) stood at INR 6,042 crore as of the end of Q1 CY2026, up from INR 5,665 crore at the end of Q4 CY2025.

Segment-Wise Performance

ABB India operates across three continuing business segments — Electrification, Motion, and Automation (formerly Process Automation, renamed effective January 1, 2026). The following table summarises segment revenues, results, and PBIT for the quarter ended March 31, 2026:

Electrification remained the largest revenue contributor at ₹1,564 crore, with 15% YoY revenue growth driven by strong backlog execution, growth across business segments, and increased export revenue. However, PBIT margin contracted to 15% from 24.7% in Q1 CY2025, impacted by higher material costs due to copper and silver price increases and rupee depreciation. Motion reported revenue of ₹1,160 crore (+6% YoY), with growth from drives products and IEC LV motors partially offset by a dip in the traction business; the segment also experienced price drops in some markets and products. Automation revenue declined 15% YoY to ₹500 crore, with growth from measurement analytics offset by a dip in process and energy industries; orders for the segment fell 11% YoY to ₹402 crore.

Operational Highlights and Innovation

During the quarter, ABB India announced a USD 75 million investment to expand manufacturing and R&D for critical segments across five locations, serving critical infrastructure including renewable energy, metro rail, and data centers. The company dispatched the first locally manufactured wind power converter from its Nelamangala facility, marking a key milestone in the integration of Gamesa Electric's wind technologies and reinforcing India's role in global wind manufacturing. ABB India launched the ARTU Formula family, a next-generation low-voltage switchgear platform for industrial and commercial applications. The company also completed the automation, monitoring and cybersecurity upgrade of BPCL's 937-km Vadinar–Bina crude pipeline using the ABB Ability™ SCADAvantage system, and ABB-supplied electrification and drives solutions at the Noida International Airport became operational during the period.

Sustainability in Practice

In Q1 CY2026, ABB India achieved approximately 82% reduction in Scope 1 and 2 GHG emissions on a year-to-date basis versus the 2019 baseline, against a 2026 target of 88%, and reaffirmed its commitment to 100% Renewable Electricity. Water recyclability stood at 46% against a target of 50%. The company advanced its water stewardship approach by initiating Alliance for Water Stewardship (AWS) certification for another facility, following the AWS Gold certification of its Nelamangala Plant 1 campus in Bengaluru — making it the fourth company and the first in the automotive, electrical equipment, and machinery manufacturing sector in India to earn this gold certification. ABB India secured Rank 3 in the Electrical & Electronics sector and Rank 9 across industries at BW Businessworld's India's Most Sustainable Companies awards, and strengthened ESG governance through assurance.

Earnings Per Share and Capital Structure

The following table presents the earnings per share (EPS) of ₹2/- each (not annualised for quarterly figures):

The paid-up equity share capital of the company remained unchanged at ₹42.38 crores (face value ₹2/- per share). Reserves excluding revaluation reserves stood at ₹7,793.61 crores as of the previous year end. Total segment assets as of March 31, 2026 stood at ₹15,573.76 crores, compared to ₹13,638.48 crores as of December 31, 2025, with unallocated assets rising to ₹8,537.17 crores from ₹6,703.78 crores in the preceding quarter, reflecting the proceeds from the Robotics business sale. The unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on May 8, 2026, signed by Managing Director Sanjeev Sharma (DIN: 07362344) and Company Secretary and Compliance Officer Trivikram Guda.

Outlook

ABB India is well positioned to capitalize on resilient domestic demand, supported by strong local manufacturing capabilities and a diversified portfolio across core and emerging industries. Ongoing investments in infrastructure, rail, grid modernization, renewables and data centers, along with steady capex across chemicals, pharmaceuticals, automotive, power distribution, metals, and mining, continue to provide a supportive growth environment. India remains comparatively resilient, backed by strong demand fundamentals and government-led investment momentum. Geopolitical tensions, including in West Asia, may intermittently influence energy prices, input costs, logistics and near-term margins. A constructive macro environment, together with disciplined execution and a solid order backlog, is expected to underpin ABB India's performance.