Siemens Ltd. announces FY 2011 results: Sales up by 28%; Order position & Profits Stable        

For the fourth quarter ended September 30, 2011, Siemens Ltd. registered Sales of Rs. 3,558.6 crores, a growth of 19% over last year, while Profit after Tax was down by 29% to Rs. 178.1 crores primarily due to Exchange Loss of Rs.158.6 crores.  

All three Sectors recorded notable sales growth figures, with Industry growing by 12%, Energy by 42% and Healthcare by 39% as compared to the previous financial year. 

Commenting on the results, Dr. Armin Bruck, Managing Director, Siemens Ltd., said, “in spite of difficult economic conditions in the country, our New Orders and Order Backlog remained steady, and the overall financial results for the year compares positively against 2009-10 when we booked large orders in the Fossil & Transmission Divisions.” 

“Our focus is on sustainable growth, innovation and environmental solutions. The goal is to expand our manufacturing presence in India. Along with leveraging our strong presence in the high-end technology segment, we will also build on our SMART base-level strategy, expand manufacturing capacities, upgrade our factories and attract talent as an employer of choice,” Dr. Bruck added. 

Among the major orders booked during the year by Siemens Ltd. were India’s largest cargo handling system contract from Delhi Cargo Service Centre; contract from Jaypee Sports to implement the electronics and IT system at India’s first F1 track; revamp of existing facilities as well as greenfield plants at seven locations; electrification of the Chennai Metro and Kolkata Metro; contract from Torrent Power to install a 1100 MW combined cycle power plant; from Power Grid for various 765kV switchyard projects like Angul and Jharsugoda; and for high-end medical equipment from Kovai Medical Center & Hospital, Coimbatore and Scans World, Chennai. 

Other major highlights during the year were the roll-out of the 100^th gas insulated switchgear substation from the Siemens Aurangabad factory, launch of the SWT-2.3-113 (Direct Drive) wind turbine targeted at low wind markets with a clear focus on generation-based customers and signing of a Memorandum of Understanding with Reliance Security Solutions Limited, a subsidiary of Reliance Industries Ltd. to jointly develop homeland security solutions for safe, secure, smart cities and highways in India. 

Parent company Siemens AG invested around €1 billion to increase its stake in Siemens Ltd. from 55% to 75%. 

Siemens Ltd., in which Siemens AG holds 75% of the capital, is the flagship listed company of Siemens AG in India. Siemens in India including Siemens Ltd. comprises 17 legal entities, is a leading powerhouse in electronics and electrical engineering with a business volume aggregating about Rs. 12,000 crore. It operates in the core business areas of Industry, Infrastructure & Cities, Energy and Healthcare. It has a nation-wide sales and service network, 20 manufacturing plants and employs about 17,500 people.