The new order inflow of Siemens Ltd during the quarter ending September 30, 2023, was up 12 per cent year-on-year.
In a release, Siemens said that its new order inflow during the fourth quarter of its latest financial year (FY23) stood at Rs.4,498 crore, registering a 12 per cent increase over the same period of FY22.
It may be noted that Siemens’ accounting year ends on September 30. The quarter from July 1, 2023 to September 30, 2023 therefore represents the fourth and last quarter of the financial year (FY23) ending on September 30, 2023.
The company also announced investments of Rs.416 crore in capacity expansions of power transformers used in the power transmission business and of vacuum interrupters for medium voltage switchgear used in the power distribution sector. The expansion in capacities of both these products will enable the company to meet the growing demand both in India and globally.
Resilient performance
Sunil Mathur, Managing Director & Chief Executive Officer, Siemens Limited, said, “The resilient year-on-year performance across all our businesses is representative of the continued growth in capex and digital spending by both public as well as private sectors. We are confident that we have the right strategies, the right products and the right competencies to deliver real value to our customers.
We are adding capacities in the power transformer and vacuum interrupter businesses to serve the increasing domestic and global demand for power transmission and power distribution solutions. With 31 factories in the country, serving both domestic and global demand, Siemens has the engineering prowess, strong supplier base and a portfolio that addresses customer requirements across the value chain,” added Mathur.
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Featured photograph (source: Siemens) is for representation only.