Siemens

Siemens Limited is a technology company specialising in industry, infrastructure, digital transformation and transportation, along with the transmission and generation of electrical power. It serves as the flagship listed company of Siemens AG in India.

The company offers solutions for industrial applications in manufacturing industries, intelligent infrastructure and buildings, efficient and clean power generation from fossil fuels and oil and gas applications, and transmission and distribution of electrical energy for passenger and freight transportation. This includes rail vehicles, rail automation and rail electrification systems.

Siemens Limited was established in 1957 under the name Siemens Engineering and Manufacturing Company of India Pvt Limited. In March 1957, the company initiated a collaboration agreement with two foreign entities – Siemens & Halske AG and Siemens Schuckertwerke AG of West Germany. In 1966, Siemens & Halske AG was renamed Siemens AG. The company underwent a name change again in 1967, from Siemens Engineering & Manufacturing Company of India Limited to Siemens India Limited.

Over the years, the company has achieved many milestones. In 2021, it commissioned India’s first high-voltage direct current link featuring voltage-sourced converter (VSC) technology for Power Grid Corporation of India Limited. It collaborated with Power Grid to set up Static Synchronous Compensator (STATCOM) solutions at its substations in Bikaner, Fatehgarh and Bhadla. The same year, it also announced the deployment of over 2,00,000 Smart Metres in North Delhi in partnership with Tata Power Delhi Distribution Limited.

The market capitalisation of Siemens Limited is ₹1,49,762 crore as of January 25, 2024. Siemens Limited share price has gained over 150% in the last three years.

Business Operations

Siemens Limited in India has emerged as a leading provider of cutting-edge technology-enabled solutions operating in the core business segments of industry, energy and healthcare. The company operates in many business segments. The automation and controls segment provides intelligent system solutions, from building automation to process control to plant operation systems.

The energy segment combines expertise in power generation and power transmission & distribution. Healthcare, where Siemens Healthcare division enables clinicians to diagnose disease earlier and more accurately, focuses on improving healthcare quality. It also has a lighting division that runs with Osram, a Siemens company. It is one of the world's largest lighting companies with lamps found in famous landmarks, building interiors and living rooms worldwide.

The company has 21 factories situated across India, along with a nationwide sales and service network. It has two subsidiaries namely Siemens Rail Automation Pvt. Limited and C&S Electric Limited and they are both based in India. Sunsole Renewables Pvt. Limited is an associate of the company.

In FY23, Siemens Limited received an order worth approximately ₹260 billion to supply 1,200 locomotives of 9000 horsepower for Indian Railways. This marked the single largest order in the history of the company. It will also supply steel tank traction transformers for the 1,200 locomotives as part of the order.

The company is also expanding its services to the electric vehicle (EV) sector. In FY23, it acquired the EV division of Mumbai-based Mass-Tech Controls Private Limited.

Financial highlights

Siemens Limited's revenue from operations for the financial year-ended September 30, 2023, stood at ₹17,965.1 crore, up by 17.7%, as compared to ₹15,255.8 crore in FY22. The net profit after tax for FY23 was ₹1,911.3 crore compared to ₹1,530.8 crore during the previous year. The company's earnings per share (EPS) stood at ₹55.09 in FY23 compared to ₹35.44 in the previous financial year.