ABB India Limited has initiated a postal ballot process seeking shareholder approval for the appointment of a new Managing Director and a Non-Executive Director. The resolutions propose appointing Mr. TK Sridhar as Managing Director for a term of five years and Mr. Sanjeev Sharma as Non-Executive, Non-Independent Director for two years, both effective from January 1, 2027. These appointments are subject to the approval of the members through remote e-voting.

Appointment Details

The Board of Directors has recommended the appointment of Mr. TK Sridhar (DIN: 06960804) as the Managing Director of the Company. His tenure is proposed for five consecutive years from January 1, 2027, to December 31, 2031. Mr. Sridhar, currently serving as the Chief Financial Officer, brings over three decades of experience and has played a key role in the company's strategic initiatives. His remuneration package includes a basic pay of ₹11,655,000 per annum, other allowances of ₹15,734,250 per annum, and a performance bonus of up to ₹11,655,000 per annum.

Concurrently, the Company proposes the appointment of Mr. Sanjeev Sharma (DIN: 07362344), the current Managing Director, as a Non-Executive, Non-Independent Director. This appointment is for a term of two years from January 1, 2027, to December 31, 2028. Mr. Sharma will be eligible for commission as determined by the Board, subject to a cap of 1% per annum of the net profits for all Non-Executive Directors. This move aims to retain his strategic guidance at the Board level following the conclusion of his tenure as Managing Director on December 31, 2026.

E-Voting Schedule and Process

The Company has engaged KFin Technologies Limited to facilitate the remote e-voting process. Shareholders holding shares as of the cut-off date, Friday, May 22, 2026, are eligible to vote. The e-voting period begins at 9.00 a.m. IST on Wednesday, May 27, 2026, and ends at 5.00 p.m. IST on Thursday, June 25, 2026.

The results of the postal ballot will be declared on or before 5.00 p.m. IST on Monday, June 29, 2026. The notice and e-voting instructions have been dispatched to members electronically and are also available on the Company’s website. Mr. K. Chandra Sekhar, Practicing Company Secretary, has been appointed as the Scrutinizer to oversee the voting process.

ABB India Limited reported its financial results for the first quarter ended March 31, 2026, highlighting a 25% growth in orders. The company’s order book reached INR11,000 crores, driven by robust demand across core and emerging sectors such as transport, data centers, and renewables. This backlog provides strong visibility for revenue execution in the coming quarters.

Revenue from operations for the quarter was INR3,184 crores, a 6% increase compared to the previous year. However, the company noted that revenue was slightly subdued due to last-minute supply chain disruptions caused by geopolitical issues in West Asia. Despite these challenges, the company dispatched its first locally manufactured wind power converter from the Nelamangala facility, marking a significant milestone.

Financial Performance

Profitability for the quarter was impacted by several factors, including higher material costs—specifically copper, silver, and aluminum—and a sharp depreciation of the Indian rupee against the US dollar and Euro. The company reported an exchange and commodity loss impact of INR27.5 crores. Additionally, competitive intensity and changes in revenue mix contributed to a contraction in margins.

The company’s cash position remains strong, standing at INR6,042 crores. Excluding the proceeds from the sale of its Robotics division, the total cash position is approximately INR7,600 crores. Management indicated that while profitability faced headwinds, the strong order backlog and ongoing investments are expected to support future performance.

Business Segment Highlights

Performance across the company’s business divisions varied during the quarter:

• Electrification: Orders grew by 36% year-on-year, driven by data centers and the building segment. Revenues were supported by backlog execution, though profitability was affected by high material costs and the absence of a large data center order executed in the previous year. The segment holds a backlog of INR4,000 crores.
• Motion: The division recorded a 22% growth in orders, fueled by the rail segment and renewables. Revenue stood at INR1,200 crores with a profitability of 12.8%. Exports experienced a slight decline due to the geopolitical crisis.
• Automation: Order intake was subdued as decision-making in private capex and public expenditure slowed. However, the company reported a strong opportunity pipeline and higher profitability due to a favorable mix of services and projects.

Strategic Initiatives and Outlook

Management announced an investment of approximately $75 million to expand manufacturing and R&D capabilities in the country. This includes expanding service offerings for Motion and increasing smart product manufacturing in Electrification. The company is also focusing on sustainability, having reduced Scope 1 and 2 greenhouse gas emissions by 82%.

Looking ahead, the company remains cautious about global uncertainties but is optimistic about the domestic demand environment. Factors such as urbanization, smart infrastructure, and green energy are expected to drive growth. The management emphasized that while short-term headwinds exist, the strong order backlog and strategic investments position the company well for the future.