Siemens Limited has approved the sale of its Low Voltage Motors and geared motors business, including related customer service operations, to Innomotics India Private Limited for an enterprise value of INR 22 billion on a cash-free, debt-free basis, subject to customary adjustments. The transaction is expected to close in June 2026, contingent on fulfillment of customary conditions precedent and receipt of applicable statutory and regulatory approvals.
The company said in a stock exchange filing that the board approved and executed a slump sale agreement on 8 December 2025 and that completion is expected six to eight months after execution, subject to regulatory clearances such as approval from the Competition Commission of India.
For the 12 months ended 30 September 2025, the Low Voltage Motors business recorded revenue from operations of INR 967 crore and profit from operations of INR 35 crore. The filing stated that this represented 6 percent of Siemens Limited’s revenue from operations and 2.2 percent of the company’s profit from operations for the same period, each figure excluding the Energy business that was demerged effective 1 March 2025.
Siemens said the consideration was determined after negotiation with the buyer and after taking into account two independent valuation reports as at 30 September 2025 prepared by Grant Thornton Bharat LLP and KPMG Valuation Services LLP. The filing noted that the Low Voltage Motors business had rangebound revenue and declining profitability in recent years, with net capital employed of a negative INR 1.38 billion for the 12 months ended 30 September 2025.
The filing explained the rationale for the sale, noting that on 1 October 2024 Innomotics GmbH and its affiliates were sold to KPS Capital Partners and that the intellectual property rights for the business transferred to KPS. Siemens said it lacked the requisite intellectual property and capabilities to service the business independently and that approximately 97 percent of the business’s revenue arose from contract manufacturing under Innomotics design.
“We are pleased to have found the right home for the business with Innomotics, ensuring continuity for our customers and employees. Given Siemens Limited having limited synergies with the Low Voltage Motors business, this decision is in the best interests of all stakeholders,” said Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited.
Siemens Limited is a technology company focused on industry, infrastructure and mobility, combining physical and digital solutions to support customers’ digital and sustainability transformations.
