During the financial year, the Company completed the sale and transfer of its Healthcare undertaking, as a going concern on a slump sale basis, for a sale consideration of Rs. 3,050 crore, to Siemens Healthcare Private Limited, a subsidiary of Siemens AG. The Healthcare Undertaking contributed Rs. 1,251.34 crore to the total income from operations of the Company up to June, 30, 2016.
Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Ltd., said, “The Company’s overall performance was good. The Company delivered strong Order growth which will improve Revenue growth in the years ahead. Major orders came from Railways and Transmission projects, though all our businesses performed well in the current market conditions.”