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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%
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.”
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.”