- Siemens volumes decline as Infrastructure spending sluggish.
- Cost optimization measures introduced in 2013 positively impact profits.
For the Financial Year 2014 ended September 30, 2014, Siemens Ltd. registered New Orders of Rs. 10,323.8 crores compared to Rs. 10,957.3 crores in FY2013. Sales stood at Rs. 10,448.3 crores in FY 2014, compared to Rs. 11,145.2 crores in FY 2013. Volumes registered a decline of 6% as infrastructure spending continued to be sluggish and high interest rates continued to impact fresh CAPEX projects in the Manufacturing Sector.
Profit after Tax rose by 211% to Rs. 603.2 crores (6% of Sales) compared to Rs. 194 crores (2% of Sales) in FY2013 inclusive of exceptional items of Rs.382.7 crores in FY 2014 as against Rs. 32.5 crores in FY 2013.
Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Ltd., said, “Our volumes reflect the challenging macro-economic scenario that we have gone through in 2014, while our improved profitability reflects that the cost optimization and productivity measures introduced in 2013 have started to bear fruit.”
The Board of Directors of the Company has recommended a dividend of Rs.6 per share, which amounts to a payout of 35.42% for the financial year ended September 30, 2014.