ABB India Limited , a leading industrial technology firm, has announced a significant business development that bolsters its position in the renewable energy sector. The company has secured an order worth ₹174 crores for the supply of wind turbine components, marking a substantial contract win in the green energy space.

Order Details

According to a disclosure made under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements, ABB India has accepted an order from Siemens Gamesa Renewable Power Private Limited, Chennai. The order, valued at ₹173.55 crores, involves the supply of 3.X wind turbine converters and electrical cabinets.

Contract Specifications

Strategic Importance

This order underscores ABB India's capabilities in manufacturing critical components for the wind energy sector. The supply of wind turbine converters and electrical cabinets is crucial for the efficient operation of wind turbines, highlighting ABB's role in supporting the growth of renewable energy infrastructure.

Market Implications

This substantial order is likely to have a positive impact on ABB India's financial performance in the coming years, particularly in 2026 when the deliveries are scheduled. It also reinforces the company's position as a key player in the supply chain for renewable energy equipment.

The contract win comes at a time when India is pushing for greater adoption of renewable energy sources, aligning with global efforts to transition to cleaner power generation. This order may signal growing demand for wind energy components, potentially opening doors for more such opportunities for ABB India in the future.

As the renewable energy sector continues to expand, ABB India's expertise in providing essential components for wind turbines positions the company well to capitalize on the growing market demand for sustainable energy solutions.

ABB India Limited , a prominent player in the Indian industrial sector, has been hit with substantial customs penalties totaling INR 5.70 crore. The company, however, remains optimistic about overturning the decision through an appeal process.

Penalty Details

The Office of the Principal Commissioner of Customs, Bengaluru, has imposed the following penalties on ABB India:

The penalties were levied under Sections 125 and 114A of the Customs Act, 1962, respectively. The action stems from an alleged wrong availment of benefits under Sl. No. 13 of Notification no. 57/2017-Customs dated June 30, 2017.

Company's Response

ABB India received the order at approximately 9:53 PM. The company has stated its intention to file an appeal against the order. In a disclosure to the stock exchanges, ABB India expressed confidence in achieving a favorable outcome at the appellate level.

Financial Impact

Despite the significant amount involved, ABB India does not anticipate any material impact on the company from this order. The company's assessment suggests that the appellate process is likely to yield a positive result.

Regulatory Compliance

In adherence to regulatory requirements, ABB India has promptly disclosed this development to the stock exchanges. The disclosure was made following a thorough review of the order, which was delayed due to the Independence Day holiday and the weekend.

ABB India continues to maintain its operations while preparing for the appeal process. Investors and stakeholders will be keenly watching the developments as the company navigates this regulatory challenge.