Mumbai, India – Siemens Ltd, a premier technology company, registered a revenue of INR 5,297 crore, a 25 percent increase over the same quarter in the previous year, for the fourth quarter of Financial Year 2023 ended September 30, 2023. New orders stood at INR 4,498 crore, registering a 12 percent increase over the same period last year. The company’s order backlog is INR 45,518 crore.
Furthermore the Board recommends a dividend of INR 10 per equity share of INR 2 each (500 percent). Profit after tax was INR 534 crore, an increase of 36 percent over the same period last year. For the Financial Year 2023, the company reported an increase of 139 percent in new orders, a 21 percent increase in revenue, and a 53 percent increase in profit after tax over the previous financial year.
The company also announced investments of INR 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 for both of 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 Ltd, commented, “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, a strong supplier base, and a portfolio that addresses customer requirements across the value chain,” added Mathur.
Image Source: Siemens Ltd