Siemens plunges 7% after standalone PAT for Q4FY21 dips 3% yoy at Rs323cr

Revenue from continuing operations grows by 15.2% yoy at Rs3,941cr; Board recommends dividend of Rs8/- per share (400%).

Nov 25, 2021 09:11 IST India Infoline News Service

For the fourth quarter of Financial Year 2021, ended September 30, 2021, Siemens Limited registered a Standalone Revenue of Rs3,941.1cr, a 15.2% yoy increase over the corresponding quarter of the previous year (Rs3,422.4cr), driven largely by the Digital Industries, Energy, and Smart Infrastructure businesses.

Profit after Tax from continuing operations decreased by 3.0% to Rs323cr, compared to Rs333cr for the corresponding quarter of the previous year on account of an increase in raw material and logistics costs. An increase of 4.9% in New Orders from continuing operations at Rs3,378cr as against Rs3,220cr in the same period last year. The Company’s Order Backlog stands at an all-time high of Rs13,520cr.

For the Financial Year 2021, Siemens Limited reported an increase of 32.4% in New Orders, 33.1% in Revenue and 40.3% in Profit after Tax from continuing operations over the previous Financial year.

The company stock was under pressure during early trade on Thursday. At around 9.25 am, Siemens Ltd was trading at Rs2,117.10 per piece down by Rs159.85 or 7.02% from its previous closing of Rs2,276.95 per piece on the BSE. The scrip opened at Rs2,254.40 and has touched a high and low of Rs2,254.40 and Rs2,099.40 respectively.

The company’s board recommended a dividend of Rs8/- per Equity Share of Rs2/- each (400%) for the Financial Year ended September 30, 2021.

The Dividend, as recommended by the Board of Directors, if declared at the forthcoming Annual General Meeting of the Company, would be paid from February 8, 2022.

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited, said “We are delighted with the overall performance of the Company. Our businesses have performed exceedingly well under very challenging conditions. We are now at pre COVID-19 volume levels with a record Order Backlog. As Government investment in infrastructure continues and capacity utilization levels increase, we believe tendering for private sector Capex will pick up in the months ahead. This will provide further impetus to our continued strategy of profitable growth.”

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