Siemens Ltd. Sales up by 28% for FY 2011; Order position & Profits Stable
Written by Vijay   
Wednesday, 23 November 2011
Mumbai: For the full year ended September 30, 2011, Siemens Ltd. registered Sales of Rs. 11,941.9 crores, a growth of 28% over financial year 2010. Both New Orders and Order Backlog during the year were stable at Rs. 12,288.6 crores and Rs. 13,921.3 crores respectively. Profit after Tax (PAT) also remained stable at Rs. 845.4 crores, up by 2% due to completion of large projects.

All three Sectors recorded notable sales growth figures, with Industry growing by 12%, Energy by 42% and Healthcare by 39% as compared to the previous financial year.

For the fourth quarter ended September 30, 2011, Siemens Ltd. registered Sales of Rs. 3,558.6 crores, a growth of 19% over last year, while Profit after Tax was down by 29% to Rs. 178.1 crores primarily due to Exchange Loss of Rs.158.6 crores.

"In spite of difficult economic conditions in the country, our New Orders and Order Backlog remained steady, and the overall financial results for the year compares positively against 2009-10 when we booked large orders in the Fossil & Transmission Divisions," said Dr. Armin Bruck, Managing Director, Siemens Ltd.

Siemens in India including Siemens Ltd. comprises 17 legal entities, is a leading powerhouse in electronics and electrical engineering with a business volume aggregating about Rs. 12,000 crore. It operates in the core business areas of Industry, Infrastructure & Cities, Energy and Healthcare.

"Our focus is on sustainable growth, innovation and environmental solutions. The goal is to expand our manufacturing presence in India. Along with leveraging our strong presence in the high-end technology segment, we will also build on our SMART base-level strategy, expand manufacturing capacities, upgrade our factories and attract talent as an employer of choice," Dr. Bruck added.

Among the major orders booked during the year by Siemens Ltd. were India’s largest cargo handling system contract from Delhi Cargo Service Centre; contract from Jaypee Sports to implement the electronics and IT system at India’s first F1 track; revamp of existing facilities as well as greenfield plants at seven locations; electrification of the Chennai Metro and Kolkata Metro; contract from Torrent Power to install a 1100 MW combined cycle power plant; from Power Grid for various 765kV switchyard projects like Angul and Jharsugoda; and for high-end medical equipment from Kovai Medical Center & Hospital, Coimbatore and Scans World, Chennai.

Other major highlights during the year were the roll-out of the 100th gas insulated switchgear substation from the Siemens Aurangabad factory, launch of the SWT-2.3-113 (Direct Drive) wind turbine targeted at low wind markets with a clear focus on generation-based customers and signing of a Memorandum of Understanding with Reliance Security Solutions Limited, a subsidiary of Reliance Industries Ltd. to jointly develop homeland security solutions for safe, secure, smart cities and highways in India.

Parent company Siemens AG invested around €1 billion to increase its stake in Siemens Ltd. from 55% to 75%.

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