ABB India jumps after expanding capacity for LV motors in Faridabad plant

ABB India rose 2.29% to Rs 1,718 after the company said that it has expanded manufacturing capacity for Low Voltage (LV) motors at its Faridabad facility in Haryana, powered by renewable energy.

The expansion will increase the company's plant capacity by more than 20% and will further strengthen its presence in the region and global markets. The Faridabad facility has been at the forefront of promoting sustainable practices and is adopting renewable energy usage and improving energy efficiency across the plant.

The new line will develop energy efficient motors up to 55kW for customers operating in different industrial segments such as F&B, water & wastewater, cement, metals and mining, HVAC, textiles, rubber and others. ABB's LV motors are compactly designed to minimize space and total cost of ownership. Offering greater flexibility to meet specific customer requirements, ABB's LV motors help in operating critical processes with minimum downtime.

Sanjeev Arora, president of ABB Motion India said, This expansion further reinforces our commitment to the 'Make in India' initiative. The new line will not only meet the growing demands of domestic market, but also help us boost exports to other significant markets like Middle East and Africa. Our state-of-the-art manufacturing facilities will continue to manufacture world-class motors that are reliable and energy efficient.

ABB India is engaged in power and automation business in India. On a standalone basis, ABB India's net profit jumped 331.60% to Rs 70.26 crore on a 45.2% rise in net sales to Rs 1,412.90 crore in Q2 June 2021 over Q2 June 2020.

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