Siemens Limited announces Q1 FY 2022 results

For the first quarter of Financial Year 2022 ended December 31, 2021, Siemens Limited registered Revenue from continuing operations of Rs. 3,197 crore, a 11.8 % increase over the same quarter in the preceding year. New Orders from continuing operations stood at Rs. 5,300 crore, a 65.3% increase over the same period last year. The Company's Order Backlog stands at a healthy Rs. 15,575 crore. Profit after Tax from continuing operations of Rs. 245 crore, decreased by 6.5% over the same period last year.

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited, said, "All our businesses demonstrated very strong growth. New Orders booked in the quarter included approximately Rs. 900 crore booked for the electrical and mechanical system works of the Pune Metro Rail Line 3 corridor from Hinjewadi to Shivajinagar. The Company is executing this order as part of a consortium, together with Siemens AG, Siemens Mobility GmbH and Alstom Transport India Limited. While Revenues were marginally impacted due to delays in offtake by customers on account of COVID-19 and supply chain challenges resulting from global shortage of semiconductors, profit was impacted due to continuing increases in commodity prices and lower Forex gains than in the previous year. However, we continue to be cautiously optimistic about the increase in demand across all our businesses."

On Budget 2022, Mr Mathur commented, "We welcome the increased Capex outlay of Rs. 7.50 lakh crore. With the continued focus on driving infrastructure growth in the country, a commitment to energy transition and sustainability and a clear direction on adopting technologies of the future, the Budget is directionally consistent and represents steadiness, continuity and predictability in Government policy making."

Shares of Siemens Limited was last trading in BSE at Rs. 2422.10 as compared to the previous close of Rs. 2438.95. The total number of shares traded during the day was 9160 in over 1753 trades.

The stock hit an intraday high of Rs. 2463.70 and intraday low of 2411.00. The net turnover during the day was Rs. 22344874.00.

Source : Equity Bulls

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Siemens INE003A01024 Q1FY22 ResultUpdate