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Press Release12 February 2021Siemens AGMumbai
Siemens Limited announces Q1 FY 2021 results; 15.9% increase in Revenue and strong Profit before Tax from continuing Operations at 12.4% to Revenue
For the first quarter of Financial Year 2021 ended December 31, 2020, Siemens Limited registered Revenue from continuing operations of Rs. 2,858 crore, a 15.9% increase over the same quarter in the preceding year. New Orders from continuing operations stood at Rs. 3,206 crore, registering a 9.3% increase over the same period last year. The Company’s Order Backlog stands at a healthy Rs. 12,797 crore. Profit before Tax from continuing operations of Rs. 353 crore was 12.4% to Revenue.
Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited, said, “Our strong and resilient performance reflects the continued uptick in the economy and is led by our short cycle Digital Industries business and a large order in our Mobility business. We are seeing a slowing down in the Energy Transmission business resulting from delays in retendering of Tariff Based Competitive Bidding (TBCB) projects.”
“We are however
greatly encouraged by the recent Budget announcements and the strong focus on
Capex spending in Infrastructure and are convinced that this will lead to a
cascading effect on all parts of the economy leading to a speedy return to a high-growth
environment and increased employment opportunities. We shall be closely
monitoring the implementation of the various initiatives announced in the
Budget and shall actively engage in bidding for tenders to be announced under
the National Infrastructure Plan,” added Mathur.
Siemens Limited focuses on intelligent infrastructure for buildings and distributed energy systems and on automation and digitalization in the process, discrete & hybrid manufacturing industries. The Company brings together the digital and physical worlds to benefit customers and society. It offers broad expertise across the entire energy value chain, along with a comprehensive portfolio for utilities, independent power producers, transmission system operators, the oil and gas industry, and other energy-intensive industries. With its products, solutions, systems, and services, it addresses the needs of energy transition, including storage and sector-coupling solutions. It is also a supplier and service provider of intelligent mobility solutions for rail, road and inter-modal transport for passenger and freight services. Siemens Limited is the flagship listed company of Siemens AG in India. As of September 30, 2020, Siemens Limited had Revenue from continuing operations of INR 9,581 crore and 9,258 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.”
Contact
Praneet Mendon / Bijesh Kamath
Siemens Ltd., Media Relations
+91 22 3967 7000