ABB India Limited held its 76th Annual General Meeting (AGM) on Saturday, May 9, 2026, at 11.00 a.m. (IST) at its registered office located at Disha, Plot No. 5 & 6, 2nd Stage, Peenya Industrial Area IV, Peenya, Bengaluru - 560 058. The meeting was chaired by Mr. Adrian Guggisberg, commenced at 11.00 a.m. and concluded at 1.25 p.m., with 283 members present. All four resolutions placed before shareholders were passed with requisite majority through a combination of remote e-voting and electronic poll conducted at the AGM venue. The AGM was convened pursuant to the Notice dated February 19, 2026, and conducted in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board and Key Managerial Personnel Present

All directors of the company were present at the meeting, along with representatives of the Statutory Auditor and Secretarial Auditor. The following directors and key personnel attended the AGM:

Resolutions Transacted

The AGM transacted four resolutions as per the Notice of AGM dated February 19, 2026. Remote e-voting was open from 9:00 a.m. on Tuesday, May 5, 2026, to 5:00 p.m. on Friday, May 8, 2026. Members present at the venue who had not cast their votes through remote e-voting were provided the opportunity to vote via electronic poll using tablets available at the meeting venue.

Voting Results Summary

The total number of shareholders on the record date was 186,050. Voting participation across all resolutions was strong, with total votes polled representing approximately 90.19% of outstanding shares (211,908,375 shares). The following table summarises the consolidated voting outcome for each resolution:

For Resolution 3, concerning the re-appointment of Mr. Adrian Guggisberg as a director liable to retire by rotation, the Promoter and Promoter Group voted 100.00% in favour, while Public Institutions voted 95.21% in favour and Public Non-Institutions voted 99.84% in favour, resulting in an overall approval of 99.19% of votes polled.

Chairman's Address and Company Performance Highlights

In his address to shareholders, Chairman Mr. Adrian Guggisberg noted that 2025 was a record year for ABB India, with the company achieving its highest-ever orders and revenues. He highlighted that over the last five years, the company delivered:

• 16% CAGR in orders
• 17% CAGR in revenues
• 21% CAGR in order backlog

The Chairman also noted that the company has been listed on the National Stock Exchange for 30 years, during which it has delivered approximately 8,500% total shareholder return, with market capitalisation and share price increasing nearly 68 times over three decades. He further mentioned that 2025 marked 75 years of ABB manufacturing in India, with enhanced manufacturing and automation capacity across Peenya, Nelamangala, Nashik, Maneja, and Faridabad, and the introduction of advanced global technologies including next-generation smart switches, IE5 rare-earth-free motors, flameproof motors, and advanced drives.

The Chairman also referenced the Q1 results announced alongside the AGM, noting a strong order backlog, solid revenues, and continued business momentum. He acknowledged the planned leadership transition, thanking Managing Director Mr. Sanjeev Sharma for his outstanding contributions and expressing confidence in a smooth and well-governed handover aligned with ABB Group strategy.

Scrutiniser's Report and Governance

CS Chandra Sekhar Kandukoori of M/s. K. C. Sekhar & Associates, Company Secretaries (FRN: S2021KR794100), was appointed as Scrutiniser by the Board of Directors to scrutinise the remote e-voting process and e-voting at the AGM. The Scrutiniser's consolidated report, dated May 9, 2026, confirmed that all resolutions were passed with requisite majority. The cut-off date for determining eligible voters was Saturday, May 2, 2026, and all electronic data and relevant records of e-voting have been handed over to the Company Secretary for safe keeping. The Scrutiniser's report was submitted pursuant to Section 108 of the Companies Act, 2013 and Rule 20 of the Companies (Management and Administration) Rules, 2014.

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.

"Backed by disciplined execution, strong customer engagement and loyalty to ABB India's offerings, I am confident in our people and operating model as we continue to deliver consistent performance. With these strengths, ABB India is well positioned to capitalise on India's next industrial capex cycle, even as we navigate a dynamic operating environment. We remain on track to achieve our sustainability targets, with continued focus on water stewardship, reduction of GHG emissions and supplier and stakeholder engagement, while reaffirming our commitment to RE100."

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.