Siemens Ltd gained 1.47% today to trade at Rs 2172.3. The S&P BSE Capital Goods index is up 0.8% to quote at 23206.05. The index is up 13.25 % over last one month. Among the other constituents of the index, Larsen & Toubro Ltd increased 1.37% and Kalpataru Power Transmission Ltd added 1.33% on the day. The S&P BSE Capital Goods index went up 84.11 % over last one year compared to the 53.79% surge in benchmark SENSEX.

Siemens Ltd has added 18.25% over last one month compared to 13.25% gain in S&P BSE Capital Goods index and 7.36% rise in the SENSEX. On the BSE, 6266 shares were traded in the counter so far compared with average daily volumes of 35273 shares in the past one month. The stock hit a record high of Rs 2176.75 on 04 Jun 2021. The stock hit a 52-week low of Rs 1020 on 16 Jun 2020.

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Net sales during the quarter increased 29.7% year-on-year (YoY) to Rs 3298.30 crore in Q2 March 2021. Profit before tax from continuing operations in Q2 March 2021 stood at Rs 433 crore, an increase by 94.8% over the same period last year.

In the second quarter, the company registered new orders from continuing operations of Rs 3,309 crore, registering a 16.9% increase over the same period last year. The company's order backlog stands at Rs 12,677 crore.

On a consolidated basis, Siemens reported 90.3% rise in net profit to Rs 334.40 crore on 33.7% increase in net sales to Rs 3427.70 crore in Q2 March 2021 over Q2 March 2020.

Sunil Mathur, managing director and chief executive officer, Siemens, said, “Order growth has been robust across all our businesses. There has been increased demand in our power transmission, digital grid and distribution systems businesses. Our digital industries segment saw growth in the machine tool and process automation businesses. The March-end quarter demonstrated a steady revival in the economy with both private and public sectors beginning to invest in anticipation of future growth.”

Siemens focuses on intelligent infrastructure for buildings and distributed energy systems and on automation and digitalization in the process, discrete & hybrid manufacturing industries.It offers broad expertise across the entire energy value chain, along with a comprehensive portfolio for utilities, independent power producers, transmission system operators, the oil and gas industry, and other energy-intensive industries.

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Net profit of Siemens rose 90.32% to Rs 334.40 crore in the quarter ended March 2021 as against Rs 175.70 crore during the previous quarter ended March 2020. Sales rose 33.75% to Rs 3427.70 crore in the quarter ended March 2021 as against Rs 2562.80 crore during the previous quarter ended March 2020.

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Siemens will hold a meeting of the Board of Directors of the Company on 11 May 2021..

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