Siemens Limited, a key player in the Indian industrial landscape, has unveiled its impressive financial performance for the fourth quarter of the fiscal year 2023, concluding on September 30, 2023. The company reported a substantial 25% surge in revenue, reaching Rs. 5,297 crore compared to the same quarter in the preceding year. New orders also saw a noteworthy uptick at Rs. 4,498 crore, reflecting a 12% surge from the corresponding period last year.
Siemens Limited, a technology company, specializes in industry, infrastructure, transport, and electrical power. Creating purposeful technology, Siemens focuses on resource-efficient factories, resilient supply chains, smart buildings, grids, and cleaner transportation. As the flagship listed company of Siemens AG in India, Siemens Limited reported a revenue of Rs. 17,701 crore and employs 8,871 people as of September 30, 2023.
A significant highlight is Siemens Limited’s robust order backlog, standing at an impressive Rs. 45,518 crore. The profit after tax (PAT) soared to Rs. 534 crore, marking a remarkable 36% increase over the comparable period in the previous year.For the entire fiscal year 2023, Siemens Limited reported stellar growth metrics, including a staggering 139% surge in new orders, a substantial 21% increase in revenue, and an impressive 53% growth in profit after tax compared to the preceding financial year.
The company’s strategic move includes a substantial capital expenditure (CAPEX) investment of Rs. 416 crore, aimed at expanding manufacturing capacity. This investment is strategically targeted to reinforce Siemens Limited’s product portfolio and meet the escalating demand for power transmission and distribution solutions both domestically and globally.
Highlighting the company’s achievements, Sunil Mathur, Managing Director and Chief Executive Officer of Siemens Limited, commented, “The resilient year-on-year performance across all our businesses is representative of the continued growth in Capex and Digital spending by both public as well as private sectors. We are confident that we have the right strategies, the right products, and the right competencies to deliver real value to our customers.”
Sunil Mathur also highlighted the expansion of capacities in the Power Transformer and Vacuum Interrupter sectors to meet the rising demand for Power Transmission and Power Distribution solutions on both domestic and global fronts. With its 31 factories in the country, Siemens possesses engineering expertise, a robust supplier network, and a portfolio tailored to meet customer needs throughout the value chain.
Siemens Limited’s dividend announcement is noteworthy, with the board recommending a dividend of Rs. 10 per equity share of Rs. 2 each, translating to a substantial 500%.The company’s prudent investments in capacity expansions for critical components like Power Transformers and Vacuum Interrupters underscore its commitment to staying ahead in the dynamic industrial landscape. Siemens Limited is strategically positioned with the right resources and innovative solutions to cater to the evolving needs of the market, demonstrating resilience and adaptability in the face of changing business dynamics.