Siemens Q4 Results: Net Profit Rises 45%; Dividend Of Rs 12 Announced
Siemens' net profit surged to Rs 831.2 crore in the July-September quarter, compared to Rs 571.6 crore in the year-ago period.
Siemens Ltd. on posted a 45% year-on-year rise in its consolidated net profit in the quarter ended Sept. 30, 2024, according to an exchange filing on Tuesday.
The company's net profit in the fourth quarter—the company follows an October-September cycle—came in at Rs 831.2 crore, as compared to Rs 571.6 crore in the year-ago period.
The technology and infrastructure solutions provider's revenue increased by 11.3% year-on-year for the three months ended September, reaching Rs 6,461.1 crore.
Operating income, or earnings before interest, taxes, depreciation, and amortisation, rose 34% year-on-year to Rs 938 crore. The Ebitda margin expanded by 240 basis points to 14.5% from 12.1% in the same period the previous year.
The jump in revenue comes on the back of 37% increase in new orders. The new orders in the September quarter stood at Rs 6,164 crore in comparison to Rs 4,498 crore received in the same period of the last fiscal.
"The strong orderbook was backed by healthy demand across all business segments while Digital Industries continued to experience normalization in demand," the company said in a press release.
However, the new orders received by the company in the 12-month period ended September 2024 fell 49% to Rs 23,564 crore, as compared to Rs 46,383-crore orders received from October 2022 to September 2023.
Dividend Announced
Siemen's board of directors gave its nod for the dividend of Rs 12 per equity share for the company's fiscal year ended Sept. 30, 2024. The dividend will be paid from Feb. 14 after the approval at the ensuing annual general meeting of the company.
Capacity Addition
The board has also approved an investment of Rs 100 crore for capacity addition at the company's power transformers factory in Mumbai's Kalwa. This investment is in addition to the Rs 360 crore approved by the board in November 2023. The investment will help in increasing the capacity to 30,000 mega volt-amperes from 15,000 MVA by December 2025.
"This decision is aimed to cater to the global trend for energy transition and electrification, which has resulted in an increasing demand for Grid Technology products. This product portfolio would cater to the international market in various countries, based on demand," the company said in an exchange filing.
Shares of Siemens closed 1.44% lower at Rs 7,242.5 apiece on the NSE, compared to a 0.11% decline in the benchmark Nifty 50 index. The stock has risen by 98.62% in the last 12 months and by 79.91% on a year-to-date basis.
Out of 26 analysts tracking the company, 15 maintain a 'buy' rating, five recommend a 'hold,' and six suggest 'sell,' according to Bloomberg data. The average of 12-month analysts' price target implies an upside of 2.4%.
