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Press Release26 November 2024Siemens AGMumbai
Siemens Limited reports profitable growth across segments; Q4 FY 2024 Revenue up 11% and Profit after Tax up 45%
Q4 FY 2024 Performance
- New Orders rose by 37% and were at INR 6,164 crore
- Revenue rose by 11% to INR 5,894 crore
- Profit after Tax rose by 45% to INR 775 crore
- Ranked 2nd in the Capital Goods segment at the Sustainable World Conclave 2024 by BusinessWorld
- Board recommends dividend of INR 12 per equity share of INR 2 each (600%)
Q4 FY 2024 Performance
- New Orders rose by 37% and were at INR 6,164 crore
- Revenue rose by 11% to INR 5,894 crore
- Profit after Tax rose by 45% to INR 775 crore
- Ranked 2nd in the Capital Goods segment at the Sustainable World Conclave 2024 by BusinessWorld
- Board recommends dividend of INR 12 per equity share of INR 2 each (600%)
The strong orderbook was backed by healthy demand across all business segments while Digital Industries continued to experience normalization in demand. Excluding the large 9,000 HP electric locomotive order from Indian Railways received in FY 2023, New Orders rose by 14% in FY 2024.
Capex Update
The Company announced an additional capex of INR 100 crore for the capacity expansion of the Power Transformer factory at Kalwa (announced in November 2023) for expanding the range of its product portfolio envisaged earlier. The capex for Power Transformer factory in Kalwa is now expected to be INR 460 crore (INR 360 crore announced in November 2023).
Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited, said, "The Company delivered a strong set of results in Q4 FY 2024, with growth across all financial metrics. In particular, we continued to gain market share from a healthy demand across all our businesses with increasing interest in Siemens Xcelerator, our digital platform. With a pick-up in private sector capex and the Government's ongoing focus on capex in infrastructure, we believe we are well positioned to meet the growing opportunities in the market. We are currently focused on completing the announced demerger of the Energy business which will unlock value for our shareholders."
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Siemens Limited is a technology company focused on industry, infrastructure, transport as well as transmission and generation of electrical power. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, to transform the everyday for people. Siemens Limited is the flagship listed company of Siemens AG in India. As of September 30, 2024, Siemens Limited had Revenue of INR 20,250 crore and around 10,000 employees. Further information is available on the Internet at www.siemens.co.in.
Forward-looking statements: "This document contains forward-looking statements based on beliefs of Siemens' management. The words 'anticipate', 'believe', 'estimate', 'forecast', 'expect', 'intend', 'plan', 'should', and 'project' are used to identify forward looking statements. Such statements reflect the company's current views with respect to the future events and are subject to risks and uncertainties. Many factors could cause the actual result to be materially different, including, amongst others, changes in the general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services, and changes in business strategy. Actual results may vary materially from those projected here. Siemens does not intend to assume any obligation to update these forward-looking statements."
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Contact
Bijesh Kamath
Siemens Limited, Media Relations
+91 22 6251 7000
bijesh.kamath@siemens.com