ABB LTD = Q2 /E JUNE 2010 RESULT = LACK LUTRE = OPEN OFFER BY PARENT

ABB LIMITED

Q/E 30^TH, JUNE,2010 (Q 2) RESULTS

COMPARISON

ABB LIMITED has declared lack lustre results for q/e June 2010. The results are compared below with previous qtr (Q1 FY10 ending march 2010), corresponding Qtr ( Q 2 FY 09 ending June 2009) and the previous year Jan-Dec 2009.

Net Sales       at Rs.1446.60 Cr is down by 0.6% from previous Qtr        , down by 3.9% from corresponding Qtr and  proportionately down by 7.2% from previous year.

Total Expenditure at Rs.1408.75 cr is down by 3.8% from previous qtr – up by 1.4% from corresponding Qtr – and down by 2.1% proportionately from previous year.

Profit from Operations        at 54.35 cr is – however by 430.8% from previous qtr (Rs 10.24Cr) -  but down by 56.7% from corresponding qtr (Rs.125.42Cr) – and proportionately down by 59.3% from previous year.(Rs.534.45 Cr).

Net Profit at Rs.38.32 Cr is however up by 477.1% from previous qtr (Rs.663.93 Cr)  - but down by 54.2% from corresponding Qtr (83.61 Cr) – and proportionately down by 56.8% from previous year (Rs.354.64 Cr).

Basic EPS is Rs.1.81 against Rs.0.31 in previous qtr ( up by +483.9%) – down by 54.2% from Rs.3.95 in corresponding qtr – and proportionately down by 56.8% compared  to Rs.16.74 of previous year.

Thus, the sales are coming down in QOQ. Likewise, compared to corresponding quarter, the results are a huge climb down. But, there is a smart increase in Profits compared to previous qtr.

Current MP is Rs.813.

Last 2 quarters EPS is Rs.1.81 + 0.31 = 2.12. It is far away from last year’s EPS of Rs.16.74 – on the face value of Rs.2.

Note : Open Offer ("Open Offer") by ABB Asea Brown Boveri Ltd. ("Acquirer") and ABB Ltd ("PAC") to the equity shareholders of ABB Limited ("Target Company") to acquire upto 48,510,997 equity shares representing 22.89% of the total paid up equity share capital of ABB Limited – see announcement by company to the NSE.

Swiss engineering company ABB Ltd (ABB) on Tuesday said its open offer to increase the stake in its Indian subsidiary to 75% from 52.11% has been successful. -The share purchase is aimed at facilitating the long-term development of ABB's business in India. -A post-offer public announcement, in accordance with local requirements, with details of the shares tendered in the open offer will be published once the acquisition of shares has been completed. -The open offer is being managed by HSBC Securities and Capital Markets (India) Private Limited.

RESULTS IN FIGURES :

ABB LIMITED	Q2 Apr - Jun 10	Q1 Jan-Mar 10	Dif%1	Jun-09	dif%2	Jan-Dec 09 N/C	dif%3
Net Sales	144660	145585.2	-0.6	150501	-3.9	623730.1	-7.2
Other Optg Income	1649.74	1939.06	-14.9	983.73	67.7	5424.03	21.7
SIT&WIP	645.58	1063.05	-39.3	1416.54	-54.4	-4348.3	-159.4
Raw Materials	98523.1	97697.56	0.8	98695.6	-0.2	421641.8	-6.5
Traded Goods	4737.52	9133.22	-48.1	6476.71	-26.9	34493.78	-45.1
Employees Cost	12296.2	11737.8	4.8	10851.86	13.3	38866.47	26.5
Depreciation	1219.62	1203.84	1.3	1248.22	-2.3	4850.58	0.6
Other Expdr	23452.7	25664.99	-8.6	20253.46	15.8	80204.37	17
Total Exp	140875	146500.5	-3.8	138942.4	1.4	575708.7	-2.1
Profit.Operations	5434.63	1023.77	430.8	12542.38	-56.7	53445.48	-59.3
Other Income5	546.34	185.85	194	1102.28	-50.4	1832.93	19.2
P B I & EI	5980.97	1209.62	394.5	13644.66	-56.2	55278.41	-56.7
Interest6	429.27	375.69	14.3	803.82	-46.6	2538.46	-32.4
P A I B B EI	5551.7	833.93	565.7	12840.84	-56.8	52739.95	-57.9
P B T	5551.7	833.93	565.7	12840.84	-56.8	52739.95	-57.9
Tax expense	1720	170	911.8	4480	-61.6	17276.04	-60.2
P A T	3831.7	663.93	477.1	8360.84	-54.2	35463.91	-56.8
Net Profit	3831.7	663.93	477.1	8360.84	-54.2	35463.91	-56.8
Dividend (%)	-	-		-		100
Face Value	2	2	0	2	0	2	300
Paid Up Equity	4238.17	4238.17	0	4238.17	0	4238.17	300
Reserves	-	-		-		-
Basic EPS A EI	1.81	0.31	483.9	3.95	-54.2	16.74	-56.8
Public holding%	47.89	47.89	0	47.9	0	47.89	300

ANNOUNCEMENTS

TO THE EXCHANGE

30-07-2010        Abb Limited has informed the Exchange regarding a press release dated July 30, 2010 , titled " ABB Limited, India announces its second quarter results for 2010".          Click Here

30-07-2010        ABB Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 144659.57 lacs for quarter ending on 30-JUN-2010 against Rs. 150501.04 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. 3831.7 lacs for the quarter ending on 30-JUN-2010 against Rs. 8360.84 lacs for the quarter ending on 30-JUN-2009.        -

01-07-2010        HSBC Securities and Capital Markets (India) Private Limited has submitted to the Exchange a copy of the Corrigendum as it appeared in the Newspaper on June 30, 2010 with respect to the Open Offer ("Open Offer") by ABB Asea Brown Boveri Ltd. ("Acquirer") and ABB Ltd ("PAC") to the equity shareholders of ABB Limited ("Target Company") to acquire upto 48,510,997 equity shares representing 22.89% of the total paid up equity share capital of ABB Limited, pursuant to the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997.

17-05-2010        HSBC Securities & Capital Markets (India) Private Limited has informed the Exchange regarding Public Announcement ("PA") is being issued by HSBC Securities and Capital Markets (India) Private Limited ("HSCI" or the "Manager to the Offer") for and on behalf of ABB Asea Brown Boveri Ltd (Registered office : Affolternstrasse 44, CH-8050 Zurich, Switzerland) ("Acquirer") and ABB Ltd (Registered office : Affolternstrasse 44, CH-8050 Zurich, Switzerland) ("PAC"), to the shareholders of ABB Limited (Registered office : 2nd Floor, East Wing, Khanija Bhavan, 49, Race Course Road, Bengaluru-560 001) ("Target Company") pursuant to and in compliance with among others, Regulation 11 (1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto "(SEBI (SAST) Regulations or the "Regulations"). This offer is being made by the Acquirer along with the PAC to the public shareholders of the Target company to acquire up to 48,510,997 equity shares being 22.89% of the Voting Shares Capital of the Target Company as on August 11, 2010, being the date which is 15 days from the date of closure of the Offer, as required under Regulation 21 (5) of the SEBI (SAST) Regulations. This Offer is being made pursuant to Regulation 11 (1) of the SEBI (SAST) Regulations, at a price of Rs. 900 per fully paid up equity share, payable in cash in accordance with the SEBI (SAST) Regulations and subject to the terms and conditions mentioned . (Specified Date- June 4, 2010) (Date of opening of the Offer- July 8, 2010) (Date of closing of the Offer- July 27, 2010).

30-04-2010        ABB Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 145585.17 lacs for quarter ending on 31-MAR-2010 against Rs. 139314.22 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 663.93 lacs for the quarter ending on 31-MAR-2010 against Rs. 7835.7 lacs for the quarter ending on 31-MAR-2009.         -

30-04-2010        Abb Limited has informed the Exchange regarding a press release dated April 30, 2010, titled "ABB Limited, India announces its first quarter results for 2010".

19-04-2010        Abb Limited has informed the Exchange regarding a press release dated April 19, 2010, titled "ABB wins Rs. 145 crore power orders for Indian rail network".

15-04-2010        Abb Limited has informed the Exchange regarding a press release dated April 14, 2010, titled "ABB wins Rs. 63 crore order in India to strengthen power grid".

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CASTROL INDIA = Q2 ENDING JUNE 2010 = RESULTS = GOOD RESULTS = GOOD BUSINESS STRATEGY FOR 2010

CASTROL INDIA LIMITED

Q2(APRIL-JUNE) FY : JAN-DEC 2010

RESULTS COMPARISON

Castrol India Limited has declared its financial results for the second quarter of its Financial year : January - December 2010.

These are analyzed below :

Net Sales has gone up by 13.8% to Rs.744 Cr – from Rs.654 Cr in Q1 of the year – and  by 16.7% compared to Rs.638 Cr in Q1 of this year – and Q’2’s annualized value (multiplied by 4) is up by 28.4% compared to Ye.2009 sales of Rs.2318 Cr.

Net Profit       has gone up by 28.2% to Rs.150 Cr – from Rs.117 Cr in Q1 of the year – and by 17.1% compared to Rs.128 Cr in Q1 of the year – and the Q2’s annualized value is up by a huge 57.8% compared to Yr.2009’s net profit Of  Rs.381 Cr.

Paid Up Equity has gone up in the quarter to Rs.247.30 Cr from the earlier Rs.123.60 due to 1:1 bonus issue.

Basic EPS is Rs.6.08 in Q2 on a face value of Rs.10 – compared to Rs.4.74in Q1 of 2010 – and compared to Rs.10.39 in Q2 of Yr 2009 – and compared to Rs.30.82 in the year 2009.

The annual EPS must be over 24 for the yr 2010 – even on the enhanced equity after Bonus issue. At he price of Rs.459, the stock has a PE Ratio of 19.12.

WHAT COMPANY SAYS :

Castrol India Limited today announced its second quarter results for the period April – June 2010. The company delivered an outstanding performance for the period under review. Net Sales were up 17% to Rs.744 crores compared to the same period during previous year and Profit after Tax grew by 17% to Rs.150 crores. For the half year ended 30th June 2010, Net sales were up by 22% to Rs 1398 crores whilst Profit After Tax increased by 31% to Rs. 268 crores.

The Board of Directors at its Meeting held today, announced an interim dividend of Rs. 7/- per share for the year ended 31st December 2010 (2009 Interim Dividend: Rs 10/- share and 2009 Final Dividend: Rs.15 per share which included a one off special dividend of Rs. 10/- per share to celebrate the centenary year of the Castrol brand in India). The said interim dividend is payable on the Bonus shares allotted on 13th April, 2010.

Commenting on the results, Mr. Naveen Kshatriya – Vice Chairman, Castrol India Limited, said, “Castrol India has delivered an outstanding performance by focusing on its long term strategy of profitable volume growth, improving margins and attacking cost inefficiencies. The company’s performance was aided by a buoyant economy and sustained investment in its brands. In the first half of 2010, our marketing activities were led by an integrated marketing program built around Castrol’s global 2010 FIFA World Cup™ sponsorship and local activation programs for consumers and customers. The company has grown margins through a combination of premium product mix, improved propositions and pricing actions to offset inflation in raw material costs.

During the quarter under review, the company initiated several marketing programmes aimed at connecting with consumers. The Castrol Power1 “Meet Ronaldo campaign” targeted at youth, received good consumer response, positively impacting this high performance motorcycle oil brand. The company also intensified its activities in rural markets with the Sanjeevani programme aimed at directly contacting farmers in 35,000 villages to explain the benefits of Castrol CRB Plus for tractors. In the Independent Workshop segment, the company focused its activities on new account acquisition and up trading consumers to high performance, synthetic lubricants.

…OUTLOOK

We expect the economy to maintain the growth momentum with a likely positive monsoon. However, the growth could potentially be impacted due to high inflation and possible high interest rates. Further, with crude at approx $75 -$80/barrel we expect raw material prices to harden, which is likely to impact our margins. Despite this risk, we remain confident of sustainable growth in our financial performance. This is underpinned by superiority of our products, strong customer relationships, continued focus on improving the operational efficiency and sustained investment in brand and organizational capability building. It is supported by the unflinching commitment of our employees, our business partners and our loyal consumers.

2^nd Q in Figures - Comparison

CASTROL	Jun-10	Mar-10	dif%1	Jun-09	dif%2	Jan-Dec09	dif%3
Net Sales	74400	65400	13.8	63750	16.7	231820	28.4
Other Optg Income	180	200	-10	270	-33.3	980	-26.5
Other Income1	-	-		-		2850
SIT &WIP	1030	-3870	-127	2710	-62
Raw Materials	34100	35180	-3.1	24840	37.3	106860	27.6
Traded Goods	1080	930	16.1	550	96.4	2660	62.4
Employees Cost	2440	2160	13	2960	-17.6	11220	-13
Depreciation	600	580	3.4	670	-10.4	2720	-11.8
Total ExpExcl. O/E	39250	34980	12.2	31730	23.7
Other ExpDR	13280	13200	0.6	13130	1.1	50690	4.8
Total ExpDR	52530	48180	9	44860	17.1	177000	18.7
Profit .Operations	22050	17420	26.6	19160	15.1	55800	58.1
Other Income	730	810	-9.9	660	10.6	2630	11
P B I & EI	22780	18230	25	19820	14.9	58430	55.9
Interest	60	50	20	60	0	350	-31.4
P A I B EI	22720	18180	25	19760	15	58080	56.5
P B T	22720	18180	25	19760	15	58080	56.5
Tax expense	7690	6460	19	6920	11.1	19970	54
P A T	15030	11720	28.2	12840	17.1	38110	57.8
Net Profit	15030	11720	28.2	12840	17.1	38110	57.8
Dividend (%)	70	-		100	-30	250	12
Face Value.Rs	10	10		10	0	10
Paid Up Equity	24730	12360	100.1	12360	100.1	12360
Reserves	-	-		-		37140
Basic EPS  A EI	6.08	4.74	28.3	10.39	-41.5	30.82	-21.1
Diluted EPS A EI	6.08	4.74	28.3	10.39	-41.5	30.82	-21.1
Basic EPS B EI	6.08	4.74	28.3	10.39	-41.5	30.82	-21.1
Diluted EPS B EI	6.08	4.74	28.3	10.39	-41.5	30.82	-21.1
Public holding (%)	28.97	28.97	0	28.97	0	28.97

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