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For the half year ended March 31, 2010, Siemens Ltd. won New Orders worth Rs. 7,406 crores, registering a rise of 93% over the comparative period in the previous year. Sales increased by 2% and stood at Rs. 4,079 crores while Profits from Operations rose by 26% and stood at Rs. 607 crores. A large export order in the Energy Sector combined with impressive performances by Industry Automation & Drives Technology and Mobility divisions drove the business volumes for the company.
New Orders for Siemens Ltd. grew by 93% and stood at Rs. 7,406 crores for the half year period ended March 31, 2010, as compared to Rs. 3,839 crores in the corresponding period last year. One of the major successes was a large export order of Rs. 2,500 crores for Phase IX of the Electrical Grid in Qatar. There was also significant rise in the Order intake by short cycle businesses such as Industry Automation and Drives Technology, against the backdrop of growing industrial demand. The Company’s Order backlog grew by 39% to Rs. 13,445 crores.
During the half-year, Sales grew by 2% and was largely driven by Mobility division and short cycle businesses such as Industry Automation and Drive Technologies.
The Profit figures for the six months period of the current fiscal are strictly not comparable to the corresponding period of the last fiscal. The six month period result of the fiscal 2009 includes the dividend income of Rs. 223 crores from Siemens Information Systems Ltd. (SISL) and Siemens Information Processing Services Pvt. Ltd. (SIPS).
Profit from Operations (PFO) for the six months ended March 31, 2010 increased by 26% and stood at Rs. 607 crores after deducting a foreign exchange loss of Rs. 116 crores.
Commenting on the results, Dr. Armin Bruck, Managing Director, Siemens Ltd. said, “The last six months were crucial for us as we have optimized our strengths to leverage opportunities in the market. Our consistent efforts for operational excellence including focus on project management skills strongly supported our results with impressive profit margins. Our excellent track record and technological edge resulted in large repeat orders, which boosted our order book. Going ahead, we continue to maintain a cautious outlook, with on-going price pressures.”
Keeping in line with its expansion plans, Siemens Ltd. is setting up a Medium Voltage factory at Goa with an initial investment of Rs. 50 crores to expand its energy portfolio. Further, the company’s new factory at Aurangabad to manufacture high performance Bogies has commenced operations.
Siemens Ltd., in which Siemens AG holds 55.18% of the capital, is the flagship listed company of Siemens AG in India. Siemens in India, which comprises 19 legal entities, is a leading provider of industry and infrastructure solutions with a business volume aggregating about Rs. 12,000 crore. It operates in the core business areas of Industry, Energy and Healthcare. It has nation-wide Sales and Service network, 20 manufacturing plants, a network of around 500 channel partners and employs about 16,800 people.
Reference Number: SiemensReferenceNumber