ABB India Limited has announced a substantial interim dividend and approved the incorporation of a wholly owned subsidiary for its robotics business, demonstrating strong financial performance and strategic restructuring.

Dividend Details

The Board of Directors of ABB India, in a meeting held on August 2, declared an interim dividend of Rs 9.77 per share, representing a remarkable 488.50% of the face value of Rs 2 per equity share. This dividend will be applicable to 21,19,08,375 equity shares of the company.

Key Dates

Shareholders whose names appear on the company's Register of Members or in the records of the Depositories as beneficial owners on the record date will be eligible for this dividend.

Financial Implications

The total dividend payout for ABB India will amount to approximately Rs 207.03 crore, calculated based on the number of outstanding shares and the declared dividend per share. This significant payout underscores the company's robust financial position and its commitment to rewarding shareholders.

Robotics Business Restructuring

In the same board meeting, ABB India's Board of Directors approved the incorporation of a wholly owned subsidiary to potentially house the company's robotics business as a separate legal entity. This decision aligns with ABB Group's global plan to spin off its robotics division. The board also approved the appointment of registered valuers to assess the company's robotics business value.

The proposed subsidiary will have an authorized capital of Rs 1 lakh and will operate in the robotics industry. The company clarified that no decision has been made regarding divestment of the robotics business to the parent group or third parties, and any such decision would require corporate and regulatory approvals, independent valuation assessments, and other legal processes.

Corporate Governance

The board meeting that decided on the interim dividend and subsidiary incorporation commenced at 2:15 PM and concluded at 3:45 PM on August 2. This prompt disclosure aligns with the company's commitment to transparency and compliance with SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations.

About ABB India Limited

ABB India Limited, a subsidiary of ABB Group, is a technology leader in electrification products, robotics and motion, industrial automation and power grids. The company has its registered and corporate office in Bengaluru, Karnataka, and continues to play a significant role in India's manufacturing and energy sectors.

Investors and stakeholders can find more information about these announcements and other corporate updates on the company's official website.

ABB India Limited (BSE: 500002, NSE: ABB) has announced a groundbreaking strategic partnership with THINK Gas Pvt. Ltd., aimed at revolutionizing the City Gas Distribution (CGD) sector in India. This collaboration marks a significant step towards digitalization and automation in the natural gas distribution landscape.

Transforming Gas Distribution with Digital Innovation

The partnership centers around the successful implementation of ABB's cutting-edge ABB Ability™ SCADAvantage solution for THINK Gas. This advanced system enables end-to-end automation and digitalization of THINK Gas's extensive CGD network, which spans across ten Indian states.

Impressive Network Coverage

THINK Gas's network encompasses 19 Geographical Areas (GAs) in Andhra Pradesh, Bihar, Himachal Pradesh, Karnataka, Kerala, Madhya Pradesh, Punjab, Rajasthan, Uttar Pradesh, and Tamil Nadu. The infrastructure includes:

• Over 500 CNG stations
• Approximately 550,000 registered DPNG connections
• Around 17,000 inch-km of steel pipeline connecting industrial and commercial establishments

Centralized Operations and Real-time Visibility

ABB's cloud-based automation platform has enabled THINK Gas to centralize its operations and gain real-time visibility of its CGD networks from a control room in Chennai. This centralization brings numerous benefits:

• Efficient energy distribution from source to end-users
• Centralized price management and billing
• Improved gas planning and reconciliation
• Enhanced pressure and flow control
• Increased data accuracy and integrity

Significant Cost Savings and Operational Improvements

The implementation of ABB's automation system has yielded impressive results for THINK Gas:

• Up to 60% reduction in gas distribution operational costs
• Significant optimization of manpower requirements
• Improved process times and enhanced responsiveness
• Greater control of operational parameters across the CGD network

Leadership Perspectives

Chiradeep Datta, Chief Operating Officer of THINK Gas, expressed pride in the partnership, stating, "We are proud to partner with ABB India on this transformative project, ensuring a secure energy supply for millions of Indians. By digitalizing and centralizing our natural gas distribution networks, we have significantly boosted operational efficiency, optimized manpower requirement and leveraged real-time data to make better decisions."

G Balaji, SVP of the Energy Industries division at ABB India, highlighted the importance of this collaboration in the context of India's energy initiatives. He noted, "As India scales up its energy initiatives in step with the increasing demand, ABB technology solutions like SCADAvantage are set to play an important role in achieving operational excellence across the country's energy value chain."

Alignment with India's Energy Goals

This partnership aligns with India's commitment to increase natural gas usage to 15% of its energy mix by 2030. The expansion of CGD infrastructure supports the supply of Piped Natural Gas to households, industrial and commercial units, as well as Compressed Natural Gas for vehicles.

As ABB India and THINK Gas embark on this strategic partnership, the Indian CGD sector is poised for significant advancements in efficiency, sustainability, and operational excellence. This collaboration exemplifies the power of digital innovation in transforming critical infrastructure and contributing to India's evolving energy landscape.