In Wednesday’s trading session, the shares of a technology leader in the electrification and automation business moved up by 1.6 percent to hit an intraday high at Rs. 8,650, after the company was selected by Mahindra & Mahindra to deliver premium paint options for its new EV paint facility.
At 01:31 p.m., the shares of ABB India Limited were trading in the green at Rs. 8,594.4, up by 0.94 percent, as against its previous closing price of Rs. 8,514.5.
What’s the news:
According to the latest regulatory filings with the stock exchanges, Mahindra & Mahindra (M&M), India’s leading SUV manufacturer, has chosen ABB India’s PixelPaint technology for its upcoming electric vehicle (EV) paint facility. This innovative technology, similar to an inkjet printer, will begin serial production in 2025.
“By deploying PixelPaint-equipped robots in dedicated cells, Mahindra’s paint shop will be able to apply finishes such as contrasting roof and pillar treatments on its new line of EVs in a completely automated process,” Managing Director of ABB Robotics Automotive Business Line commented.
Mahindra & Mahindra (M&M) will deploy ABB Robotics’ PixelPaint to deliver personalisation options for a new line of EVs. This makes M&M the first original equipment manufacturer (OEM) in India to utilise PixelPaint for painting contrasting elements on EVs.
What is PixelPaint:
PixelPaint consists of a paint head with over 1,000 tiny, individually controlled nozzles, mounted on an ABB robot.
Combined with ABB’s 3D vision system and coordinated by ABB’s RobotStudio software, the paint head tracks the vehicle body precisely to apply 100 percent of the paint to the car with no overspray or airborne misting.
This eliminates the need for labour-intensive masking and repeat trips through the paint shop, resulting in zero waste while ensuring faithful reproduction of precise details.
Financials:
In terms of financials, the revenue from operations stood at Rs. 3,063.7 crore in Q4 FY23-24, rising by 27.8 percent YoY from Rs. 2,396 crore in Q4 FY22-23, and the after-tax profit grew by 87.5 percent to Rs. 459.3 crore from Rs. 245 crore, during the same period.
Stock Performance:
The stock has delivered positive returns of nearly 94.5 percent in one year, as well as around 80 percent in the last six months. So far in 2024, the shares of ABB India have given about 83.3 percent of positive returns.
About the company:
ABB India Limited undertakes engineering and construction projects and manufactures heavy engineering and industrial equipment.
The company undertakes projects in the fields of energy production, power transmission, transportation, process automation and pollution control.
Written by Shivani Singh
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