Stock Report

Siemens Limited announces Q4 FY 2023 results

Posted On : 2023-11-28 21:25:24( TIMEZONE : IST )

For the fourth quarter of Financial Year 2023 ended September 30, 2023, Siemens Limited registered a Revenue of Rs. 5,297 crore, a 25% increase over the same quarter in the previous year. New Orders stood at Rs. 4,498 crore, registering a 12% increase over the same period last year. The Company's Order Backlog is Rs. 45,518 crore. Profit after Tax was Rs. 534 crore, an increase by 36% over the same period last year.

For the Financial Year 2023, Siemens Limited reported an increase of 139% in New Orders, 21% increase in Revenue and 53% increase in Profit after Tax over the previous financial year.

The Company also announced investments of Rs. 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 of both 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 Limited, said, "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, strong supplier base and a portfolio that addresses customer requirements across the value chain," added Mathur.

Shares of Siemens Limited was last trading in BSE at Rs. 3645.65 as compared to the previous close of Rs. 3627.75. The total number of shares traded during the day was 5795 in over 1081 trades.

The stock hit an intraday high of Rs. 3655.50 and intraday low of 3577.95. The net turnover during the day was Rs. 20958589.00.