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Press Release28 November 2023Siemens AGMumbai
Siemens Limited announces Q4 FY 2023 results; 25% increase in Revenue and 36% increase in PAT
For the fourth
quarter of Financial Year 2023 ended September 30, 2023, Siemens Limited
registered a Revenue of Rs. 5,297 crore, a 25% increase over the same quarter
in the previous year. New Orders stood at Rs. 4,498 crore, registering a 12%
increase over the same period last year. The Company’s Order Backlog is Rs. 45,518
crore. Profit after Tax was Rs. 534 crore, an increase by 36% over the same
period last year.
For the
Financial Year 2023, Siemens Limited reported an increase of 139% in New Orders,
21% increase in Revenue and 53% increase in Profit after Tax over the previous
financial year.
The Company also
announced investments of Rs. 416 crore in capacity expansions of Power
Transformers used in the Power Transmission business and
of Vacuum Interrupters for Medium Voltage Switchgear used in the Power
Distribution sector. The expansion in capacities of both these products will
enable the Company to meet the growing demand both in India and globally.
Sunil Mathur,
Managing Director and Chief Executive Officer, Siemens Limited, said, “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.”
“We are adding
capacities in the Power Transformer and Vacuum Interrupter businesses to serve
the increasing domestic and global demand for Power Transmission and Power
Distribution solutions. With 31 factories in the country, serving both domestic
and global demand, Siemens has the engineering prowess, strong supplier base
and a portfolio that addresses customer requirements across the value chain,”
added Mathur.
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, 2023, Siemens Limited had Revenue from continuing operations of Rs. 17,701 crore and 8,871 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
Bijesh Kamath / Shahzad Bagwan
Siemens Limited, Media Relations
+91 22 6251 7000