Siemens Shares Soar After Strong Q4 Results, Proposes ₹12 Dividend

27 Nov 2024 , 09:08 PM

Siemens shares surged nearly 5% following the company’s strong financial performance for Q4 ending September 30, 2024, reaching a high of ₹7,614 on BSE, up from ₹7,245.90.

Siemens reported a 45% increase in standalone net profit, reaching ₹775 crore, compared to the previous year. The company’s revenue from operations rose by 11%, totaling ₹5,894 crore, up from ₹5,296 crore in the same quarter last year.

Siemens saw a 37% growth in new orders, which amounted to ₹6,164 crore, compared to ₹4,498 crore in the previous fiscal year. The board of Siemens proposed a 600% dividend of ₹12 per equity share (face value of ₹2), subject to AGM approval. The dividend is expected to be paid on February 14, 2025.

Siemens announced an additional investment of ₹100 crore to expand its Power Transformers factory, raising the production capacity and diversifying its product range to include large reactors for power grids. The project is expected to be completed by December 2025.

CEO Sunil Mathur emphasized the company’s strong market position and the ongoing demerger of its energy business, aimed at unlocking shareholder value.