Engineering and automation major Siemens recorded its fiscal fourth quarter earnings with profit at Rs 830.70 crore, posting a growth of 45.41 per cent in comparison to Rs 571.30 crore during the same period of previous financial year. It posted revenue from operations at Rs 6461.10 crore, up 11.25 per cent as against Rs 5807.70 crore recorded during the same period of previous financial year. At the operating level, EBITDA went up by 34 per cent to Rs 938 crore in the fourth quarter over Rs 700.2 crore in the corresponding period of FY24.
Siemens follows the October-September financial year.
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.”
Dividend declared
The company board also recommended a dividend of Rs 12 per equity share of Rs 2 each (600 per cent) for the financial year ended 30th September, 2024. “The dividend, as recommended by the Board of Directors, if declared at the ensuing Annual General Meeting (AGM) of the Company, would be paid from Friday, 14th February, 2025,” it said in a regulatory filing.
Order book
The company recorded new orders worth Rs 6164 crore during the quarter, taking the order book to Rs 46,950.00 crore. The strong orderbook, it said, 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 per cent in FY2024.
Capital expenditure
In terms of capital expenditure, the company announced an additional capex of Rs 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 the Power Transformer factory in Kalwa is now expected to be Rs 460 crore (Rs 360 crore announced in November 2023), it said.
Investment
The company approved an investment of around Rs 100 crore for Power Transformers, in addition to the investment of around Rs 360 crore approved on 28th November, 2023. This decision, it said, is aimed to cater to the global trend for energy transition and electrification, which has resulted in an increasing demand for Grid Technology products. This product portfolio would cater to the international market in various countries, based on demand. The capacity expansion is likely to be completed by December 2025 and Siemens said that the company would be utilizing its internal accruals to fund this additional investment, similar to the investment announced in November 2023.