Siemens Ltd Share Price – NSE  /  BSE

Capital Goods - Electrical Equipment, Mid Cap

Total order value is approximately Rs 766 crore. Siemens’ share as part of the consortium is approximately Rs 558 crore.

Siemens will design, engineer, install and commission rail electrification technologies as well as a digital solution comprising Supervisory Control and Data Acquisition (SCADA) systems. The project covers 30 stations spanning over 58 kilometers connecting Bengaluru Airport terminal to Central Silk Board via KR Puram and two depots.

With this order, Siemens is present in 11 out of 20 cities that have a Metro in India,” the company said in a statement.

Gunjan Vakharia, head of Mobility Business, Siemens, said: “As part of our continued efforts towards nation building through sustainable rail transportation, we are proud to be associated with BMRCL on the electrification of Bengaluru Metro Phase 2 project.

The implementation of Phase 2 will significantly contribute to sustainable urban development in Bengaluru, catering to the requirements of commuters and Metro Rail authorities.

Siemens is a technology company focused on industry, infrastructure, transport as well as transmission and generation of electrical power. The firm is the flagship listed company of Siemens AG in India.

The company's net profit jumped 73.72% to Rs 896.4 crore in March 2024 quarter as against Rs 516 crore reported in the same period last year. Total revenue from operations jumped 19% year on year (YoY) to Rs 5,313.8 crore during the second quarter ended March 2024.

The scrip rose 0.68% to currently trade at Rs 7810.30 on the BSE.

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Total revenue from operations jumped 19% year on year (YoY) to Rs 5,313.8 crore during the second quarter ended March 2024.

Profit before tax stood at Rs 1,163.3 crore, up 70.65% from Rs 681.7 crore recorded in the corresponding quarter previous fiscal.

The company’s segment revenue from smart infrastructure stood at Rs 1,766.9 crore (up 28.98% YoY), energy business was at Rs 1,637.5 crore (up 5.27% YoY), while digital industries came in at Rs 1,041.9 crore (up 15.99% YoY), mobility was at Rs 715.5 crore (up 55.43% YoY) while portfolio companies revenue stood at Rs 217.1 crore (down 10.47% YoY) during the period under review.

New orders stood at Rs 5,184 crore in the second quarter ended 31 March 2024.

Sunil Mathur, managing director and chief executive officer, Siemens, said, “The second quarter of Fiscal Year 2024 showed a robust growth in revenues built off a strong order backlog. Some large orders have been deferred. There has also been a slowdown in ordering of industrial automation products due to normalization of demand following shorter delivery cycles.

Our growth in profits include volume and price effects, continued productivity measures as also gains on account of sale of property and dividend received from subsidiaries. Overall, our Q2 FY 2024 results reflect the continued robustness in the economy led by Government spending in infrastructure, which has resulted in increased capacity utilization and the beginning of capacity expansions by the private sector.”

Meanwhile, Siemens announced the expansion of two of its 32 factories in India today. This is in addition to the capacity expansions of the power transformer factory in Kalwa and vacuum interrupter factory in Goa announced by the company in November 2023. With this, total capex investment is expected to exceed Rs 1,000 crore, stated the firm.

Further, the company’s board approved an investment of around Rs 519 crore towards capacity addition at Gas Insulated Switchgear Factory, Goa and Metro train manufacturing facility, Aurangabad.

Lastly, the board of directors also approved the proposal to demerge its Energy Business into a separate legal entity – Siemens Energy India (SEIL) (currently a wholly owned subsidiary of Siemens). SEIL will be subsequently listed and will mirror the shareholding of Siemens Limited, upon the receipt of requisite approvals.

As per the scheme of arrangement, shareholders of Siemens will receive 1 share of SEIL for every 1 share of Siemens. The new entity will subsequently be listed on the BSE and National Stock Exchange of India. The process of demerger, including receipt of requisite approvals, and subsequent listing of SEIL is expected to be completed in 2025.

Siemens is a technology company focused on industry, infrastructure, transport as well as transmission and generation of electrical power. The firm is the flagship listed company of Siemens AG in India.

The counter hit an all time high of Rs 7,243.60 in today's intraday session.

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Siemens Ltd rose 8.53% today to trade at Rs 7221. The S&P BSE Power index is up 1.01% to quote at 7419.62. The index is up 7.13 % over last one month. Among the other constituents of the index, Bharat Heavy Electricals Ltd increased 1.18% and Tata Power Company Ltd added 0.98% on the day. The S&P BSE Power index went up 95.04 % over last one year compared to the 18.19% surge in benchmark SENSEX.

Siemens Ltd has added 32.62% over last one month compared to 7.13% gain in S&P BSE Power index and 0.27% drop in the SENSEX. On the BSE, 6645 shares were traded in the counter so far compared with average daily volumes of 12499 shares in the past one month. The stock hit a record high of Rs 7243.6 on 15 May 2024. The stock hit a 52-week low of Rs 3248 on 31 Oct 2023.

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Net profit of Siemens rose 70.24% to Rs 802.50 crore in the quarter ended March 2024 as against Rs 471.40 crore during the previous quarter ended March 2023. Sales rose 18.60% to Rs 5681.00 crore in the quarter ended March 2024 as against Rs 4790.10 crore during the previous quarter ended March 2023.

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