ABB India Limited — Interim / Quarterly Report 2021

Feb 23, 2021

REF:INABB:STATUT:LODR:REGU 23(9): February 23, ²⁰²¹

BSE Limited National Stock Exchange of India Limited P.J. Towers Exchange Plaza, 5"1 floor Dalal Street Plot No. C/1, G Block Mumbai 400 001 Bandra-Kurla Complex, Bandra (E) Mumbai 400 051

Am: Ligflng Dept.

Dear Sir

Sub: Submission of half yearly disclosure on related party transactions as per Regulation 23 (9) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations)

Ref: BSE - 500002 / NSE - ABB

In terms of Regulation 23(9) of Listing Regulations, we enclose herewith a statement on related party transactions of the Company for the half-year ended December 31, 2020 and the same is being made available on the website of the Company also.

We request you to take the same on record.

Thanking you

Yours faithfully For ABB India Limited

pany Secretary FCS-2631

ABB India Limited CIN : L32202KA1949PLC032923 www.abb.com/in

ABE India Limited

Notes to the financial statements for the year ended December 31, 2020

Related party disclosures

a) Parent Company

Party where control exists: ABE Limited, Zurich, Switzerland (Ultimate Holding Company) ABE Asea Brown Boveti Limited, Zurich, Switzerland (Holding Company) Entities with common directors and also a fellow subsidiary" AEB Global Industries and Services Private Limited, Bengaluru, India ABE Power Products and Systems India Limited, Bengaluru, India (fellow subsidiary until June 30, 2020) * Transactions with fire patties has been disclosed as part of transactions with fellow subsidiaries. Entities over which key ' are able to ABB India Foundation Entities under common control a: r significant influence

Name of the Fellow subsidiaries: ABE Australia Pty Limited, Moorebank, NSW, Australia ABE (Namibia) (Pty) Ltd., Windhoek, Namibia ABE (Pty) Ltd., Gaborone, Botswana ABE A/S, Skovlunde, Denmark ABE AB, Visteras, Sweden ABE AG, Mannheim, Germany ABB AG, Wiener Neudorf, Austria ABB Algeria SpA Asea Brown Boveri , Hydra, Algeria ABE Algerie Produits SpA, Hydra, Algeria AEB AS, Billingstad, Norway ABE AS,_]iiri, Estonia ABE Asea Brown Boveri Ltd, Zurich, Switzerland ABE Asca Brown Boveri SRL, BUCI'IAREST, Romania ABE (Hong Kong) Ltd., l-Iong Kong, Hong Kong Special Administrative Region of ABB )iangsujingke Instrument Transformer Co., Ltd., Suqian,]iangsu, China ABE Automacao Ltda, Sorocaba, Brazil ABE Automation And Electrification (Vietnam) Company Limited, Ho Chi Minh, Viet Nam ABE Automation GmbH, Mannheim, Germany ABB Automation Products Gmbl—l, Ladenburg Germany ABB B.V., Rotterdam, Netherlands AEB Bailey Beijing Engineering Co. Ltd., Beijing, China ABE Baileyjapan Limited, Shizuoka—Ken,_]apan ABE Beijing Drive Systems Co. Ltd., Beijing, China ABB Beijing Switchgear Limited, Beijing, China ABE Bulgaria EOOD, Sofia, Bulgaria AEE Business Services Sp. z 0.0., Warsaw, Poland ABB Capital B.V., Rotterdam, Netherlands ABE Chongqing Transformer Company Ltd., Chongqing, China ABE Colombia Ltda, Bogota, Colombia ABE Contracting Company Ltd., Riyadh, Saudi Arabia ABE d.o.o., Belgrade, Serbia ABE Ecuador S.A., Quito, Ecuador ABE Electrical Equipment (Xiamen) Co., Ltd., Xiamen, China ABE Electrical Equipment Ltd., Lipetsk, Russian Federation ABE Electrical Industries Co. Ltd., Riyadh, Saudi Arabia ABE Electrical Machines Ltd., Shanghai, China ABE Electrical Products (Shanghai) Co., Ltd., Shanghai, China ABE EJektrik Sanayi A.S., Istanbul, Turkey ABE Fleuificacao LTDA, Sorocaba, Brazil ABB Engg. Technologies Co. (KSCC), Safat, Kuwait ABE Engineering (Shanghai) Ltd., Shanghai, China ABE Engineering Trading and Service Ltd., Budapest, Hungary ABE Limitada, Maputo, Mozambique ABE Enterprise Software Inc., Atlanta, GA, United States ABE Equity Limited, Zurich, Switzerland ABE for Electrical Industries (ABE ARAB) SAIL, Cairo, Egypt ABE France, Cergy Pontoise, France

ABE FZ-LLC, Dubai, United Arab Emirates

ABE Global Marketing FZ LLC, Dubai, United Arab Emirates ABE High Voltage Switchgear (Xiamen) Company Ltd., Xiamen, China AEE High Voltage Switchgear Co., Ltd. Beijing Beijing, China ABE Holdings Sdn. Bhd., Subangjaya, Malaysia ABE Inc., Cary, NC, United States ABE Inc., SaintiLaurent, Quebec, Canada ABE GISI. Employees Gratuity Trust ABE Industrial Solutions (Switzerland) SA, Riazzino, Switzerland ABE Industries (L.L.C.), Dubai, United Arab Emirates ABB Industries FZ, Dubai, United Arab Emirates ABE Information Systems Ltd., Zurich, Switzerland ABE Installation Products Inc, Memphis, TN, United States ABE Jiangjin Turbo Systems Company Limited, Chongqing, China China ABE KK, Tokyo,_]apan ABE Enterprise Software (PGI-IV US non-legal enlity), Mt. Pleasant, PA, United States ABE Limited/Jordan LLC., Amman,_]ordan ABB Limited, Auckland, New Zealand ABE limited, Bangkok, Thailand ABE Limited, Dar Es Salaam, Tanzania, United Republic of AEB Limited, Dhaka, Bangladesh ABE Limited, Dublin, Ireland ' ABE Limited, Nairobi, Kenya ABE Limited, Warrington, United Kingdom ABE LLC,, Muscat, Oman AEE LLC, Doha, Qatar ABE LLP., Almaty, Kazakhslan ABE Logislics Center Europe GmbH, Menden, Germany ABB Ltd., I-Ianoi, Viet Nam ABE Ltd., Kampala, Uganda ABE Ltd., Kyiv, Ukraine ABE Ltd., Lusaka, Zambia ABE Ltd., Moscow, Russian Federation ABE Ltd., Seoul, Korea, Republic of ABE Ltd., Taipei, Taiwan (Chinese Taipei) ABE Ltd., Zagreb, Croatia ABE Ltda, Sir) Paulo, Brazil ABE LV Installation Materials Co. Ltd, Beijing, Beijing, China ABE Malaysia Sdn Bhd, Subangjaya, Malaysia ABB Management Holding Ltd., Ziirich, Switzerland ABE Management Services Ltd., Zurich, Switzerland ABE Mexico SA. de C.V., San Luis Potosi SLP, Mexico ABB Motion Limited, Bristol, United Kingdom ABE Motors and Mechanical Inc, Fort Smith, AR, United States ABE N.V,, Zaventem, Belgium ABE Near East Trading Ltd., Amman, jordan ABE 0y, Helsinki, Finland

ABB India Limited

Notes to the financial statements for the year ended December 31, 2020

AEE Power 8: Automation (Private) Limited, Lahore, Pakistan ABB Power Grids Argentina S.A.U., Ciudad Autonoma de Buenos Aires, Argentina ABB Power Grids Australia Pty Ltd, Brisbane, Queensland, Australia ABB Power Grids Bulgaria EOOD, Sevlievo, Bulgria ABE Power Grids Canada Inc, Saint-Laurent, Quebec, Canada ABB Power Grids Chile SA, Santiago, Chile ABB Transmission Br Distribution Limited LIL, Abu Dhabi, United Arab Emirates ABB Power Grids Denmark A/ S, Skovlunde, Denmark ABB Power Grids Germany AG, Mannheim, Germany ABB Power Grids Hong Kong Limited, Hong Kong, Hong Kong Special Administrative Region of China ABB Power Grids Italy S.p.A., Milano, Italy ABB Power Grids Ltd., Moscow, Russian Federation ABB Power Grids Malaysia Sdn Bhd, Kuala Lumpur, Malaysia ABB Power Grids Peru S. A., Lima, Peru ABE Power Grids Poland Sp. z 0.0., Warsaw, Poland ABB Power Grids Singapore Pte. Ltd., Singapore , Singapore ABB Power Grids South Africa (Pty) Ltd,_]ohannesburg, South Africa ABB Power Grids Sweden AB, V'a'steras, Sweden ABB Power Grids Switzerland Ltd, Baden, Switzerland ABB (China) Ltd., Beijing, China ABB Power Protection LLC, Wilmington, DE, United States ABE Power Protection SA, Gambarogno, Switzerland ABB Power Systems Portugal, S.A, Oeiras, Portugal ABB Pte. Ltd., Singapore, Singapore ABB S.A., Buenos Aires, Argentina ABB S.A., Casablanca, Morocco ABB S.A., Lima, Peru ABE S.A., Santiago, Chile ABB S.p.A., Milan, Italy ABB s.r.o., Prague, Czech Republic ABB SARI, Kinshasa Gombe, Congo, Democratic Republic of the ABB Schweiz AG, Baden, Switzerland ABB Sécheron S.A., Satigny, Switzerland ABB Shanghai Free Trade Zone Industrial Co., Ltd., Shanghai, China ABB Shanghai Motors Co. Ltd., Shanghai, China ABB Shanghai Transformer Co. Ltd., Shanghai, China ABB South Africa (Pty) Ltd., Modderfontein, South Africa ABB Sp. z 0.0., Warsaw, Poland Power—One Renewable Energy Solutions LLC, Wilmington, DE, United States ABB Power Products and Systems India limited; Beriyluru; India ABE Supply Operations Ltd., Baden, Switzerland ABB Substations Contracting India Private Limited, Bangiore, India ABB SRL, Bucharest, Romania

Key managerial personnel : (a) Managing Director (b) Nc- '7 - ^rJ _. ecum- .—

(c) Non-Executive Directors

(d) Chief Financial Officer (e) Company Secretary

ABB Technologies Ltd., Haifa, Israel ABB Technologies S.A., Dakar, Seneyl ABB Technology SA, Abidjan, Cote d'Ivoire ABB Power Grids Colombia Linda, Bogota, Colombia ABB Turbo Systems (l-Iong Kong Limited, Hong Kong, Hong Kong Special Administrative Region of China ABB Turbo Systems AG, Baden, Switzerland ABB Xiamen Surge Arrestor Co., Ltd., Xiamen, China Asea Brown Boveri Industrial, Technical 6: Commercial Company of Imports — Exports S.A., Metamorphossis Attica , Greece ABB Xiamen Smart Technology Co,, Ltd., Xiamen, China ABB Xian-ten Switchgear Co. Ltd., Xiamen, China ABB Xi'an Power Capacitor Company Limited, Xi'an, China ABB Xinhui Low Voltage Switchgear Co. Ltd., Xinhui , China ABB, Inc., Paranaque, Metro Manila, Philippines ABBNG Limited, Lagos, Nigeria ABB Xian-ten Low Voltage Equipment Co. Ltd., Xiarnen, China Asea Brown Boveri Lanka (Private) Limited, Colombo, Sri Lanka Asea Brown Boveri Ltd., Moka, Mauritius Asea Brown Boveri S.A., Madrid, Spain B&R Industrial Automation Pvt. Ltd., Pune, India Busch—jaegcr Elektro GmbH, Ludenseheid, Germany Electrical Materials Center Co. Ltd, Riyadh, Saudi Arabia Industrial CGrS Hungary KfL, Budapest, Hungary Iraq Technology for Advanced Energy LLC, Baghdad, Iraq Power-One Italy S.p.A., Terranuova Bracciolini (AR), Italy ABB Stotz~Kontakt GmbH, Heidelberg Germany PT ABB Sakti Industri,]akarta, Indonesia Pucaro Elektro—Isolierstoffe GmbH, Roigheim, Germany Shanghai ABB Power Transmission Company Ltd., Shanghai, China Shantou Winride Switchgear Co., Ltd., Longhu District Shantou, China Sucursal Panama de ABB SA, Panama, Panama Thomas a; Eerts Asia (Singapore) Pte. Ltd., Singapore, Singapore Trasfor SA, Monteggio, Switzerland Turbo Systems United Co. Ltd., TokyoJapan Asea Brown Boveri Ltd .Employees Gratuity Fund ABB India Employees' Provident Fund Trust Asea Brown Boveri Ltd. Senior Executives Superannuation Scheme

Sanjeev Shanna Nasser Munjee (uptojuly 24, 2020) Darius E. wadia Renu Sud Kamad V K Viswanathan (w.e.f November 13, 2019) Jean—Christophe Deslarzes Martin Wierod (fromjune 19, 2020) Diane de Saint Victor (November 13, 2019 tojuly 24, 2020) Tank Mehta (uptoJune 19, 2020) T. K. Sridhar B. Gurumi

ABB India Limited

Notes to the financial statements for the year ended December 31, 2020

		R in Crores)
I '	December 31, 2020	December 31, 2019
b) Transactions with related parties
Transaction value in excess of 10% with a fellow subsidiary has been individually disclosed below. All other cases have been grouped and disclosed as 'other fellow subsidiaries'.
i) Revenue from operations Holding Company	4.25	4.85
Fellow Subsidiaries
7 ABB Power Products and Systems India Limited; Bengaluru; India 7 ABB Schweiz AG, Baden, Switzerland	23.31 69.14	22.11 65.46
- Power7One Renewable Energy Solutions LLC; Wilmington, DE; United States	1.83	249.13
- Odier fellow subsidiaries	' 551.12	756.12
	645.40	1,092.82
	649.65	1 I097.67
ii) Interest Income - ABB Power Products and Systems India Limited; Bengaluru; India	3.85	12.23
iii) Other non operating revenue - ABB Power Products and Systems India Limited; Bengaluru; India	22.98	831
7 A83 Power Technology Services Private Limited;Bangalore, India;India	2.05 ,	-
'	25.03	861
iv) Purchases of raw materials, components , project items and traded goods
Fellow Subsidiaries 7 A33 Schweiz AG;Baden;Switzerland	220.19	23236
- ABB Oy, Helsinki, Finland	207.46	434.82
- ABB Pte. Ltd., Singapore	191.08	255.38
7 ABB AB, Viisteras, Sweden	126.63	69.30
7 Other fellow subsidiaries	713.67 1,459.03	1,151.50 : 2,143.36
v) Expenditure on ESAP charges
Fellow Subsidiaries
7 ABB Equity Limited;Zurich;Switzerland 1	0.88	--
vi) Expenditure on royalty, technology and trade-mark fees Holding Company	60.93	90.94
Fellow Subsidiaries
7 ABB Schweiz AG, Baden, Switzerland > 7 Other fellow subsidiaries	162.67 9.03	247.82 12.72
	171.70	_ _ 260.54
	232.63	3517.48
vii) Expenditure on information technology, engineering, management and other services Holding Company	0.29	11.92
Fellow Subsidiaries
— ABB Information Systems Ltd., Zurich, Switzerland 7 ABE Global Industries and Services Private Limited, Bengalum, India	129.78 88.38	152.71 66.83
- ABB Oy; Helsinki; Finland	37.77	38.87
7 ABB Management Services Ltd., Zurich, Switzerland	28.80	57.27
7 Other fellow subsidiaries	43.39	21.58
	328.12	337.26
	328.41	349.18
viii) Expenses recovered from group companies I Holding Company Fellow Subsidiaries '	-	0.16
- ABB Power Products and Systems India Limited; Bengaluru; India	89.56	64.27
7 ABB Substations Contracting India Private Limited, Bengaluru, India	9.26	29.44
- ABB Global Industries and Services Private Limited, Bengaluru, India	2.92	2.97
— ABB Management Services Limited, Zurich, Switzerland 7 ABB AB, Vasteras, Sweden	1.83 1.23	3.18 033
7 Oflter fellow subsidiaries	23.61	5.49
	128.41	106.18
		106.34

A133 India Limited Notes to the financial statements for the year ended December 31, 2020

			(1' in Crores)
		December 31,	December 31,
		2020	2019
	ix) Other capital expenditure
	Fellow Subsidiaries
	- ABE Engineering (Shanghai) Ltd.; Shanghai; China	1.10	1.05
	— ABB 0y; Helsinki; Finland	0.82	2.48
	— ABB Global Industries and Services Private Limited, Bengaluru, India	0.03	0.22
	- Other fellow subsidiaries	0.68	053
		2 63	4.58
	x) Dividend paid during the year
	Holding Company	76.29	76.29
	Fellow Subsidiaries	g
		76.29	76.29
	xi) Repayment of loan granted
	- ABE Power Products and Systems India Limited; Bengaluru; India	347.62	-
	xii) Loan granted
	- ABB Power Products and Systems India Limited; Benyluru; India	-	347.62
xiii) I!	inn to key a ' ' r '
	The remuneration of key management personnel and a relative of key management personnel of the company are set out below in aggregate for each of the
	categories specified in Ind AS 24 Related party disclosures
	Particulars
	Short term employee benefits	10.74	9.73
	Post employment benefits#	0.50	0.45
	Directors' Sitting fees	0.12	0.13
	Commission to Directors	1.23 , 12.59	1.06
	Total		11.17 '

xiv) CSR Contribution

- ABB India Foundation - 9.08 9.17

xv) Pursuant to demerger of Power Grid business to ABB Power Products and System India Limited, during the year, the Company has accounted sales and purchases amounting to ? 1,139 Crores and ? 249.74 Crores respectively towards the contracts yet to be novated by the APPSIL'S customers and vendors. The aforesaid sales and purchases has not been considereddn the revenue from operations and cost of sales of the Company. The receivables and payables towards the aforesaid non novated contracts amounting to ? 597.87 Crores and ? 613.99 Crotes have been disclosed as other receivables and other payables. (Refer note 7 and 19)

c) Amount due to / from related parties

Balances in excess of 10% with a fellow subsidiary has been individually disclosed below. All other cases have been grouped and disclosed as 'othcr fellow subsidiaries'.

i) Trade receivables
Holding Company	1.01	0.72
Fellow Subsidiaries
— ABE Schweiz AG, Baden, Switzerland	29.33	24.64
— ABE Power Products and Systems India Limited; Bengaluru; India	22.07	-
- Power—One Renewable Energy Solutions LLC; Wilmington, DE; United States	-	132.58
— Other fellow subsidiaries	140.43	196.13
	191.83	353.35
'	192.84	354.07
- Add/ (Less) :Impact of foreign currency restatement	1.23	3.39
	194.07	357.46

ABB India Limited Notes to the financial statements for the year ended December 31, 2020

(₹ in Crores)

		December 31, 2020	December 31, 2019
	ii) Other financial assets
	Holding Company Fellow Subsidiaries	0.09
	- ABB Global Industries and Services Private Limited, Bengaluru, India	14.87	9.31
	- ABB Substations Contracting India Private Limited, Bengaluru, India	4.06	4.05
	- ABB Power Products and Systems India Limited; Bengaluru; India	168.61	244.71
	- ABB Schweiz AG, Baden, Switzerland	0.33	0, 54
	- Other fellow subsidiaries	5.40	5.13
		193.27	263.74
		193.36	263.74
	- Add/ (Less) : Impact of foreign currency restatement	0.00	0.03
		193.36	263,77
	iii) Other current assets
	Fellow Subsidiaries
	- ABB AB, Västerås, Sweden	1.65	1.65
	- ABB Inc.;Cary, NC;United States	1.18
	- ABB Sp. z o.o.; Warsaw; Poland	0.44	0.44
	- ABB South Africa (Pty) Ltd.; Modderfontein; South Africa	0.12	0.70
	- ABB Oy, Helsinki, Finland	$\blacksquare$ 3.39	2.70 5,49
	- Add/ (Less) : Impact of foreign currency restatement	0.43	0.19
		3.82	5.68
	iv) Trade payables
	Holding Company	1.30
	Fellow Subsidiaries - ABB Power Products and Systems India Limited; Bengaluru; India	1.87
	- ABB AB, Västerås, Sweden	76.65	36.20
	- ABB Oy, Helsinki, Finland	53.39	149.29
	- ABB Schweiz AG, Baden, Switzerland	82.12	86.65
	- Other fellow subsidiaries	408.07	451.46
		622.10	723.60
		623.40
	- Add/ (Less): Impact of foreign currency restatement	10.01	4.33
		633.41	727.93
	v) Other financial liabilities
	Holding Company	23.33	39,55
	Fellow Subsidiaries
	- ABB S.p.A.;Milan;Italy	5.26	6.12
	- Asea Brown Boveri Lanka (Private) Limited;Colombo;Sri Lanka	5.11	0.77
	- ABB Global Industries and Services Private Limited, Bengaluru, India	0.38	14.88
	- ABB Power Products and Systems India Limited; Bengaluru; India	481.54	591.90
	- ABB Management Services Ltd.; Zunch, Switzerland	$\tilde{\phantom{a}}$	23.35
	Other fellow subsidiaries	6.65 498.94	31.15 668,17
		522.27	707.72
	- Add/ (Less): Impact of foreign currency restatement	0.56	2.42
		522.83	710.14
	vi) Other current liabilities Fellow Subsidiaries
	- ABB Engg. Technologies Co. (KSCC);Safat;Kuwait	6.01	1.66
	- ABB Transmission & Distribution Limited LLC; Abu Dhabi; United Arab Emirates	5.01	11.41
	- ABB Schweiz AG, Baden, Switzerland	(0.12)	0.05
	- Other fellow subsidiaries	6.66	4.46
		17.56	17.58
	- Add/ (Less) : Impact of foreign currency restatement	0.05	0.45
	Terms and conditions of transactions with related parties	17.61	18.03

The sales to and purchases from related parties are made on terms equivalent to those that prevail in arm's length transactions. Outstanding balances at the yearend are unsecured and interest free and settlement occurs in cash-

During the previous year, the Company had provided inter corporate loan to APPSIL at the rate of 10% p,a which was repayable on dermand. The loan has been fully repaid by APPSIL in the current year.