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Siemens Ltd

BSE Code : 500550 | NSE Symbol : SIEMENS | ISIN:INE003A01024| SECTOR : Capital Goods - Electrical Equipment |

NSE BSE
 
SMC up arrow

3,694.60

5.55 (0.15%) Volume 144144

25-Sep-2023 EOD

Prev. Close

3,689.05

Open Price

3,710.00

Bid Price (QTY)

3,694.60(44)

Offer Price (QTY)

0.00(0)

 

Today’s High/Low 3,714.80 - 3,662.00

52 wk High/Low 4,068.85 - 2,672.00

Key Stats

MARKET CAP (RS CR) 131504.53
P/E 74.31
BOOK VALUE (RS) 339.0322196
DIV (%) 500
MARKET LOT 1
EPS (TTM) 49.69
PRICE/BOOK 10.8918851558025
DIV YIELD.(%) 0.27
FACE VALUE (RS) 2
DELIVERABLES (%) 38.69
4

News & Announcements

15-Sep-2023

Siemens Ltd - Siemens Limited - Updates

14-Sep-2023

Siemens Ltd - Updates

11-Sep-2023

Siemens Ltd - Siemens Limited - Updates

30-Aug-2023

Siemens Ltd - Siemens Limited - Loss of Share Certificates

02-Aug-2023

Siemens to hold board meeting

02-Jul-2023

Siemens completes acquisition of EV division of Mass-Tech Controls

04-May-2023

Siemens schedules board meeting

02-May-2023

Siemens announces cessation of director

Corporate Actions

Bonus
Splits
Dividends
Rights
Capital Structure
Book Closure
Board Meeting
AGM
EGM
 

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

Select Company Name BSE Code NSE Symbol
Aartech Solonics Ltd 542580 AARTECH
ABB India Ltd 500002 ABB
Accurate Transformers Ltd 530513
Advance Metering Technology Ltd 534612 AMTL
Advance Powerinfra Tech Ltd 531047
Agni Green Power Ltd. 535456 AGNI
Alfa Transformers Ltd 517546
Amba Enterprises Ltd 539196
Amei Power Ltd 513101
Apar Industries Ltd 532259 APARINDS
Artemis Electricals & Projects Ltd 542670
Asian Electronics Ltd 503940 ASIANELEC
Assam Carbon Products Ltd 40131
Bagade Engineering (India) Ltd (Liquidated) 522225
Baroda Electric Meters Ltd 503956
Best & Crompton Engineering Ltd 500046 BECREL
Bharat Bijlee Ltd 503960 BBL
Bharat Heavy Electricals Ltd 500103 BHEL
Birla Power Solutions Ltd 517001 BIRLAPOWER
CG Power & Industrial Solutions Ltd 500093 CGPOWER
City Lifts India Ltd 526197
Concord Control Systems Ltd 543619
Continental Controls Ltd 531460
Controls & Switchgear Contactors Ltd 40489
Cospower Engineering Ltd 543172
Crompton Greaves Consumer Electricals Ltd 539876 CROMPTON
CTR Manufacturing Industries Ltd 503968
Datar Switchgear Ltd 517516 DATARSWICH
Dhanashree Electronics Ltd 542679
Dowells Elektro Werke Ltd 532157
Easun Reyrolle Ltd 532751 EASUNREYRL
ECE Industries Ltd 532491 ECEIND
Eddy Current Controls (India) Ltd 503982
Elcot Power Controls Ltd 40196
Electra (India) Pvt Ltd 504246 ELECTRA
Electric Control Gear (India) Ltd 509358
EMCO Ltd 504008 EMCO
Eon Electric Ltd 532658 EON
Epic Energy Ltd 530407
Evans Electric Ltd 542668
Focus Lighting & Fixtures Ltd 538416 FOCUS
GE T&D India Ltd 522275 GET&D
GTV Engineering Ltd 539479
Hansu Controls Ltd 40253
Havells India Ltd 517354 HAVELLS
Heatshrink Technologies Ltd 522130 REPLENGINE
High Energy Batteries (India) Ltd 504176
Hitachi Energy India Ltd 543187 POWERINDIA
Honda India Power Products Ltd 522064 HONDAPOWER
HPL Electric & Power Ltd 540136 HPL
ICE Make Refrigeration Ltd 535034 ICEMAKE
IKIO Lighting Ltd 543923 IKIO
IMP Powers Ltd 517571 INDLMETER
Indo Asian Fusegear Ltd(merged) 517318
Indo Tech Transformers Ltd 532717 INDOTECH
Indosolar Ltd 533257 INDOSOLAR
Inox Wind Ltd 539083 INOXWIND
Insolation Energy Ltd 543620
Integra India Group Company Ltd (Merged) 517250
Integra Switchgear Ltd 517423
Jem Industries Ltd 504072
JSL Industries Ltd 504080
Jyoti Ltd 504076
Kabra Extrusion Technik Ltd 524109 KABRAEXTRU
Kanohar Electricals Ltd 531214
Kaycee Industries Ltd 504084
Kirloskar Electric Company Ltd 533193 KECL
Kundan Edifice Ltd 79228 KEL
Lakshmi Electrical Control Systems Ltd 504258 LAKSELECON
Maks Energy Solutions India Ltd 535481 MAKS
Malvica Engineering Ltd 532048
Marine Electricals (India) Ltd 535119 MARINE
Marsons Ltd 517467
Matra Kaushal Enterprise Ltd 526671
Meekan Transmissions Ltd(wound-up) 522118
Mewar Marbles Ltd 502038
Mirzapur Electrical Industries Ltd 40664
Modern Insulators Ltd 515008 MODINSULAT
Modison Ltd 506261 MODISONLTD
Mukati Transformers Ltd (Wound-up) 517332
National Switchgears Ltd 517199
NEPC India Ltd 500301 NEPCMICON
OTIS Elevator Company (India) Ltd 504130 OTIS
Phoenix Electric (India) Ltd (Merged) 517439 PHOENIXELE
Protech Circuit Breakers Ltd 517306
Protech Electromech Ltd 517266
Protech Switchgears Ltd 517256
Punjab Power Generation Machines Ltd (Merged) 500345
Quest Softech India Ltd 535719
Rams Transformers Ltd 517567
Reed Relays & Electronics India Ltd 40110
Remi Elecktrotechnik Ltd 512487
Rexnord Electronics & Controls Ltd 531888
Rishabh Instruments Ltd 543977 RISHABH
RMC Switchgears Ltd 540358
RTS Power Corporation Ltd 531215
S & S Power Switchgear Ltd 517273 S&SPOWER
Salzer Controls Ltd (Merged) 517314
Salzer Electronics Ltd 517059 SALZERELEC
Schneider Electric Infrastructure Ltd 534139 SCHNEIDER
Servotech Power Systems Ltd 535002 SERVOTECH
Shilchar Technologies Ltd 531201
Shri Ram Switchgears Ltd 538430 SRIRAM
Spectrum Electrical Industries Ltd 535112 SPECTRUM
Sree Rayalaseema Power Corporation Ltd (Merged) 532142
SSB Industries Ltd 40128
Star Delta Transformers Ltd 539255
Sungarner Energies Ltd 78826 SEL
Surana Solar Ltd 533298 SURANASOL
Suzlon Energy Ltd 532667 SUZLON
Suzlon Energy Ltd Partly Paidup 890176 SUZLONPP
Swelect Energy Systems Ltd 532051 SWELECTES
Switching Technologies Gunther Ltd 517201
Tarapur Transformers Ltd 533203 TARAPUR
Taylormade Renewables Ltd 541228
TD Power Systems Ltd 533553 TDPOWERSYS
Techno Electric & Engineering Company Ltd(merged) 505397 TECHNOELEC
Thana Electric Supply Company Ltd 501756
Toyama Electric Ltd 517407
Transformers & Electricals Kerala Ltd 504202
Transformers & Rectifiers India Ltd 532928 TRIL
Triveni Turbine Ltd 533655 TRITURBINE
Ucal Power Systems Ltd (Merged) 517395
Ujaas Energy Ltd 533644 UJAAS
Veto Switchgears & Cables Ltd 539331 VETO
V-Guard Industries Ltd 532953 VGUARD
Voltamp Transformers Ltd 532757 VOLTAMP
Websol Energy System Ltd 517498 WEBELSOLAR
Wonder Electricals Ltd 543449 WEL
XL Energy Ltd 532788 XLENERGY

Share Holding

Category No. of shares Percentage
Total Foreign 28987371 8.14
Total Institutions 28522057 8.01
Total Govt Holding 150 0.00
Total Non Promoter Corporate Holding 3228277 0.91
Total Promoters 267089913 75.00
Total Public & others 28292487 7.94
Total 356120255 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About Siemens Ltd

Siemens Limited offers products, integrated solutions for industrial applications for manufacturing industries, drives for process industries, intelligent infrastructure and buildings, efficient and clean power generation from fossil fuels and oil & gas applications, transmission and distribution of electrical energy for passenger and freight transportation, including rail vehicles, rail automation and rail electrification systems. It focuses on the areas of electrification, automation and digitization. It is one of the leading producers of technologies for combined cycle turbines for power generation; power transmission and distribution solutions; infrastructure solutions for Smart Cities and transportation; automation and software solutions for industry, and also supplier of healthcare equipments. It has nearly 21 factories located across India and a nation-wide sales and service network. Siemens Ltd was incorporated in the year 1957 as Siemens Engineering and Manufacturing Company of India Pvt Ltd. In March 1957, the company entered into a collaboration agreement with two foreign companies, viz., Siemens & Halske AG and Siemens Schuckertwerke AG of West Germany. In the year 1966, the name of the Siemens & Halske AG was changed to Siemens AG and at the same time, it took over the manufacturing and business activities of Siemens-Schuckertwerke AG and Siemens-Reiniger-Werke AG. The name of the company was changed in the year 1967 from Siemens Engineering & Manufacturing Company of India Ltd to Siemens India Ltd. In the year 1970, Siemens-Reiniger-Werke AG and Siemens-Schuckertwerke AG were merged with Siemens AG. In the year 1985, the company incorporated a subsidiary company, namely Siemens Communication Systems Pvt Ltd to undertake the manufacture of certain items of Telecommunication equipment for export purposes. In the year 1987, the company established a software centre at the head office in Mumbai to cater to the software package requirements of the control and automation systems and also to tap the export market. In the year 1990, the company undertook a project to set up a plant at Waluj in Aurangabad district of Maharashtra for the manufacture of switchgears and miniature circuit breakers. In the year 1991, the Medical engineering division launched a mobile C-arm image intensifier system, saving valuable foreign exchange. Also, the motors, drives and automation division launched the microprocessor based modular drives for AC and DC applications, microprocessor based digital uninterrupted power supply and micro PLC Simatic 90U. The name of Siemens Communication Systems Pvt Ltd was changed to Siemens Information Systems Ltd In the year 1993, the company introduced State-of-the-art advanced process control system at Nashik in order to meet stringent control requirements of chemical and petro-chemical industries. In the year 1994, the company signed an MoU with Asia Chip Card, Singapore and Semiconductor Corp Ltd to enter into the smart card business. In the year 1996, the company suffered by loss due to discontinuous of the operations of the Telecommunications division. In the year 1998, Siemens Public Communications, a 70:30 joint venture company between Siemens Germany and Siemens Ltd India were formed. Siemens Telecom Ltd, a joint venture between Siemens and Bharti Telecom formally launched their Euroset and Emerald series of phones at Bangalore. In the year 1999, the company set up Unisphere Solutions Inc to target leadership in the converged voice and data and Internet networking solutions. In the year 2000, they launched total hotel solutions' for the hospitality industry to cater to the growing needs of the corporate travelers. They launched their new line of information and communication solutions - Hicom 150 E Office and ESL8i - targeted at small and medium enterprises. In the year 2001, Siemens Information Systems Ltd, a wholly owned subsidiary company signed a partnership contract with Avraham Goldratt Institute of USA (AGI). The company introduced different models of mobile phones, which cover various features in each. In the year 2004, the company made a strategic alliance with Aethra Telecomunicazioni, Italy to offer a range of video and audio conferencing solutions in India. In the year 2006, the company made an alliance with Huawei-3Com to offer high performance networks to Indian enterprises. In the year 2007, the company acquired a 77% of stake in iMetrex Technologies Ltd, which is a leading provider of products and solutions in the areas of electronic security, safety and building automation systems. In September 2007, the company acquired the balance 26% stake in Siemens Industrial Turbomachinery Services Pvt. Ltd. (SITS) from Pimac Engineers Pvt. Ltd. In November 2007, the company bagged an order worth of Rs 870 million (Rs 87 crore) from McNally Bharat Engineers Pvt Ltd for supplying electricals for Rashtriya Ispat Nigam Ltd's new Sinter Plant at Vizag. In January 2008, the company and the Government of Maharashtra signed a Letter of Understanding to support company's expansion plans in the State. In April 2008, the company took over Morgan Construction Co., the rolling mill specialist based in Worcester, Massachusetts, USA. In May 2008, the company's Medical Solutions installed Asia's first high definition positron emission tomography (HD PET). This high-end equipment is installed at Piramal Diagnostics (formerly Wellspring), Mumbai. During the year 2009-10, as per the scheme of amalgamation, Flender Ltd, a wholly owned subsidiary of the company was amalgamated with the company with effect from October 1, 2009. In January 8, 2010, the company acquired the balance 13.85% stake Siemens Building Technologies Pvt Ltd, Chennai (SBTPL) comprising of 517,209 Equity Shares of Rs 10 each, from the promoters of SBTPL for a consideration of Rs 702.51 million. With this acquisition, SBTPL became a wholly owned subsidiary of the company. During the year 2010-11, the company created a new Sector 'Infrastructure & Cities' in line with Siemens global strategy and in order to achieve better portfolio synergy. The new sector will offer solutions to the cities for mobility, environmental protection and energy savings. This sector will be having five divisions (Mobility, Rail System, Low & Medium Voltage, Smart Grid and Building Technologies) and these divisions will work closer to their target markets and develop additional business opportunities in the growing market of cities. During the year, as per the scheme of amalgamation, Siemens Building Technologies Pvt Ltd and Vista (a wholly owned subsidiary of SBTPL) were amalgamated with the company with effect from October 1, 2010. Consequent to the amalgamation of SBTPL, the three subsidiaries of SBTPL i.e. iMetrex Technologies Ltd., Ireland (ITL), Europlex Technologies (UK) Ltd., UK (ET UK) and Europlex Technologies (Ireland) Ltd., Ireland (ET IL) became subsidiaries of the company. During the year, ITL, ET UK & ET IL were sold to Siemens Schweiz AG, Switzerland (a subsidiary of Siemens AG) for a total consideration of Euro 2.95 million During the year, as per the scheme of amalgamation Siemens Healthcare Diagnostics Ltd was amalgamated with the company with effect from March 14, 2011. In April 2011, Siemens Rolling Stock Pvt Ltd, a wholly owned subsidiary of the company was amalgamated with the company with effect from October 1, 2009. In September 2011, the company received an order from Siemens AG valued at Rs 294.50 crore for a transmission project of Power Grid of Corporation of Bangladesh. The completion period is 24 months. The company has approved the amalgamation of Siemens VAI Metals Technologies Pvt Ltd, Kolkata (SVAI), a 100% Siemens AG Company and Morgan Construction Company India Pvt Ltd, Mumbai (Morgan) a wholly owned subsidiary of SVAI with the company. The appointed date was fixed as October 1, 2011. In 2012, The Company won contract to modernize electricity distribution system for Maharashtra State Electricity Distribution Company. The company inked contract with PGCIL to construct 765 kV test lab in Bina, MP. The Company started operations in two greenfield factor in Goa. In 2013 Siemens launches SIMATIC S7-1500 with TIA Portal. Siemens installs Asia's first SOMATOM Definition Edge CT scanner at PSG Hospitals, Coimbatore. Siemens Limited wins contract to build first private sector-funded GIS substation in Bangladesh. Siemens wins order to modernize Korba Stage-II plant of NTPC. Siemens wins repeat order for Gurgaon Metro South Extension project. Siemens Corporate Citizenship Film Runner-up at Global Sustainability Awards. Siemens-powered Rapid Metro Rail Gurgaon begins operations. Siemens inaugurates State-of-the-Art Test Center for Motors. Siemens installs SOMATOM Perspective 128 slice CT scanner at SRL Diagnostics-Speedscans, Surat. Siemens introduces cutting-edge patient care technology with two new solutions - Biograph mCT Flow & Symbia Intevo. In 2014, the company launches best-fit controller for mid-sized DCS market.- AS 410 SMART. The company also launches optimized servo drive system for motion control applications. The company installs world's longest lab automation track at Thyrocare. The company Installs India's First Ultrasound System with Wireless Transducers at K.G. Hospital, Coimbatore. The company bags orders from Reliance Industries for supply of steam turbines. The company successfully delivers 1200kV CVT to National Test Station, Power Grid. The company wins international recognition for its motors manufactured in India. The company wins order worth Rs 317 crores from Bihar Grid Company Ltd. The company surpasses 100,000 milestone for energy-efficient industrial motors. In 2015, the company has bagged orders worth Rs 450 crore from Varanasi-based Diesel Locomotive Works. The company wins Rs. 55 crore order for High Voltage Circuit Breakers from Algeria. The company wins order worth Rs. 123 crore from Power Grid Company of Bangladesh. The Company has received an order worth Rs 67 crore for supply of high voltage gas insulated switchgear from Larsen and Toubro. The company has powers cities across three states Punjab, Uttarakhand and Haryana with Smart Grid solutions. The company wins order worth Rs. 81 crore from Diesel Locomotive Works. The company has received an order of Rs 79 crore from Pune based wind turbine supplier, Suzlon Energy Limited. IL&FS & GIFTCL sign MoU with the company to develop Smart Mobility Solutions for GIFT. The company has opened up a global skill centre for occupational safety in Mumbai in collaboration with TUV Rheinland India. On 13 October 2015, Siemens announced that, together with its parent company Siemens AG, Germany, it has won an order totalling approximately Rs 183 crore from NTPC. The component of Siemens Ltd. in the order is approximately Rs 97 crore. The scope of the works includes modernization as well as maintenance of Controls and Instrumentation at NTPC's Dadri Power Gas Station. On 7 December 2015, Siemens announced that it has won a crucial order approximately worth Rs 377 crore from Indian Railways' Diesel Locomotive Works (DLW), Varanasi. The scope of work for the project involves supply of 1890 Traction Motors for 4500 HP Diesel Electric Locomotives. The Traction Motors will be produced at Kalwa Factory of Siemens Limited. On 10 December 2015, Siemens Ltd. announced that it has won an order worth approximately Rs 102 crore to supply a 400 kV Gas Insulated Switchgear (GIS) Substation to West Bengal State Electricity Transmission Company Limited (WBSETCL). The scope of the order includes engineering, supply, installation and commissioning of the GIS Substation. On 22 January 2016, Siemens Ltd., announced that it has won a crucial order approximately worth Rs 112 crore from Rajasthan Rajya Vidyut Prasaran Nigam Limited, a State Power Transmission Utility owned by Government of Rajasthan and headquartered in Jaipur. The scope of work for the project involves engineering, supply, installation, testing and commissioning of 400 kv /220kV Air Insulated Substations. On 22 January 2016, Siemens Ltd., together with Siemens Malaysia, announced that it has won a crucial order approximately worth Rs 155 crore from Malaysia-based PSI International, one of the largest petrochemical companies of the world and a subsidiary of Petronas. The scope of work for the project involves supply of 420kV Gas Insulated Switchgear for PSI International's new petrochemical (RAPID) Greenfield project. The Board of Directors of Siemens at its meeting held on 4 March 2016 approved the sale and transfer of its Healthcare undertaking, as a going concern on a slump sale basis, for a sale consideration of Rs 3050 crore to Siemens Healthcare Private Limited, a subsidiary of Siemens AG. This transaction follows Siemens AG's global strategy of managing its Healthcare business under a separately-managed company. Over 85% of Siemens Ltd's Healthcare revenues are currently derived from products imported from parent Siemens AG. Significant management focus, including investments will be needed in finding appropriate products and solutions to meet the growing demands of the Indian market. As there are limited synergies between the Healthcare and other businesses of Siemens Ltd, this transaction will enable Siemens Ltd to increase its focus on, and capital allocation to Power Generation, Transmission and Distribution, Mobility, Industrial Automation and Smart Cities segments while enabling Siemens AG to further strengthen its focus on the Healthcare segment in India, by aligning it with its global strategy and management framework. On 6 April 2016, Siemens announced that it has started dispatch of the largest-ever Made in India' single-phase Generator Step-Up (GSU) Transformer of rating 315 MVA, 23.5kV/420kV for installation at NTPC's Kudgi Thermal Power Station in Bijapur, Karnataka. This transformer is an essential component of the Power Station, which once operational will boost the high-capacity power generation for the southern states of Karnataka, Andhra Pradesh, Tamil Nadu and Kerala. NTPC has ordered 10 units of these GSU transformers on Siemens. On 23 May 2016, Siemens announced that it has strengthened its partnership with Sri Lanka by signing a Memorandum of Understanding (MoU) with the Ministry of Megapolis and Western Development, Sri Lanka to offer expertise and best practices from its globally-proven, state-of-the-art, Sustainable, Smart City solutions portfolio. The prime objective of the Ministry of Megapolis and Western Development is to bring systematic changes and development processes into the urban community in Sri Lanka, which will ensure that the inhabitants of urban areas become a part of socio-economic development of the country while maintaining high levels in quality of life. This will pave the way for making Sri Lanka a commercial, naval and aviation hub of Asia. On 8 June 2016, Siemens Ltd. announced that, together with Siemens Bangladesh Ltd., it has won an order worth approximately Rs 113 crore from Power Grid Company of Bangladesh Limited (PGCB) to design, procure, supply, install, test and commission 230/132kV Gas Insulated Switchgear Substation along with 225/300 MVA, 132/33 KV and 50/75 MVA Transformers at Keraniganj within Dhaka. On 13 June 2016, Siemens Ltd. announced that it has won an order worth approximately Rs 78 crore from Power Grid Corporation of India Limited (PGCIL) to design, supply, install and commission 7 X 500MVA, 765/400/33kV, Phase Autotransformers at Bhuj. On 22 June 2016, Siemens Ltd. announced that it has won an order worth approximately Rs 83 crore from Indian Railways' Diesel Locomotive Works (DLW), Varanasi. The order is to design, supply and install 40 Alternating Current (AC) Traction Systems for dual-cab high horsepower diesel engine locomotives. On 27 June 2016, Siemens Ltd. announced that it has won an order worth approximately Rs 570 crore to supply Static Synchronous Compensator (STATCOM) solutions to Power Grid Corporation of India Ltd. (PGCIL). The scope of the order includes design, engineering, supply, civil, installation, testing and commissioning of STATCOMs at four substation locations ofPGCIL: Ranchi, Rourkela, Kishenganj and Jeypore across the states of Bihar, Jharkhand and Odisha. Cutting-edge technology from Siemens will result in the installation of one of the world's largest STATCOM projects at 400 kV level with a dynamic swing range of 2000MVAr and 1250MVAr mechanically switched components. On 3 August 2016, Siemens Ltd. announced that it has received a crucial order worth approximately Rs 217 crore for Power Grid Company of Bangladesh Limited (PGCB) project from Siemens AG, Germany to supply 400kV / 230 kV Switch Yard Equipments, Reactors, Power Transformers, Fire Fighting Systems, Air-conditioning Systems, Auxiliary Power System, Building Management Systems, Illumination Systems, AC Control and Protections, Engineering for Civil and Plant for 500 MW High Voltage Direct Current (HVDC) Station. The Board of Directors of Siemens at its meeting held on 5 December 2016 approved the sale and transfer of the company's business of engineering, design and development services for global wind power business (hereinafter referred to as SLWP Business') to a subsidiary (to be incorporated) of Siemens Wind HoldCo Sociedad Limitada (SA), Spain, which in turn is a subsidiary of Siemens AG, Germany (SAG), as going concern on a slump sale basis with effect from 1 January 2017 for a cash consideration of Rs 7.5 crore. The SLWP Business consists providing engineering services exclusively for the component design of Towers, Nacelle, Hub and Generator to the Siemens Wind Power A/S (Wind Power Division) in terms of an annual contract on a cost plus mark up basis. On 13 January 2017, Siemens Ltd. announced that, it has won an order worth approximately Rs 98 crore from Diesel Locomotive Works (DLW) to design, supply and install 48 Alternating Current (AC) Traction systems for Dual Cab High Horsepower Diesel Engine locomotive for Indian Railways. The AC Traction systems will be produced at Nashik Factory of Siemens Limited. The systems have been developed based on the state of art Insulated Gate Bipolar Transistors (IGBTs) technologies. The principle benefit of IGBTs over Gate Turnoffthyristors (GTOs) is that it reduces the current required and therefore the heat generated, giving smaller and lighter units. On 18 January 2017, Siemens Ltd announced the launch of its new range of energy efficient motor SIMOTICS 1LE7. The new SIMOTICS 1LE7 range of motors is the newest entrant in the existing range of motors offered by Siemens in India. These motors offer efficiency values higher than the IE3 standards - which is currently the highest efficiency class as recognized by Indian Standards. On 24 January 2017, Siemens Ltd. announced that it has won an order worth approximately Rs 366 crore from Oil and Natural Gas Corporation Limited (ONGC). The order includes supply of material for overhauling of 18 Power Turbines through Zero Hour Overhaul and Time Continued Overhaul. The Zero Hour Overhauling will be first of its kind in India and involves the overhaul of Power Turbines to zero hour status. Under the new concept of Zero Hour Overhaul, the Power Turbine will perform almost as new - capable of a safe run of another 100,000 hours before the next overhaul. This will help in reducing down-time and increase in productivity because of elimination of at-least one intermediate overhaul. On 10 February 2017, Siemens Ltd. announced that it has won an order worth approximately Rs 101 crore from Delhi Transco Ltd. (DTL). The order includes installing 220/66/33kV Gas Insulated Switchgear (GIS) substation at R.K. Puram, New Delhi. DTL is the State Transmission Utility of New Delhi. On 16 February 2017, Siemens announced that it has received an order worth approximately Rs 119 crore from Sterlite Power Grid Ventures Ltd. for design, engineering, procurement, manufacture, supply and commissioning of equipment for 765/400kV Air Insulated Switchgear (AIS) Substation at Khandwa (Madhya Pradesh) and 765kV AIS Bay Extension Equipment at Dhule (Maharashtra) for Khargone Transmission Ltd. On 20 February 2017, Siemens announced that the company along with Siemens Rail Automation Ltd. S.A.U Spain has jointly won an order worth Rs 287 crore to supply state-of-the-art signaling technology for the first two metro lines of the Nagpur Metro i.e. the North-South and the East-West Corridors. Siemens Limited's share of the contract is Rs 146 crore (all inclusive).The project comprises the deployment and installation of the Siemens communications-based train control (CBTC) solution Trainguard MT for 38.2 kilometers of double track with 36 stations and two depots, as well as onboard equipment for 23 three-cars trains. On 23 March 2017, Siemens announced that it has won an order worth approximately Rs 187.4 crore from Bangladesh Rural Electrification Board (BREB), Dhaka. The project includes construction of new 33/11 kV Air Insulated Switchgear substations in Dhaka, Chittagong and Sylhet. BREB is an electricity distribution provider under the Government of Bangladesh responsible for providing electricity to the rural parts of Bangladesh. The project is part of BREB's efforts to upgrade the country's rural electricity distribution system and will contribute to accomplishing the Government of Bangladesh's Vision of 'Electricity for All by 2021'. On 29 March 2017, Siemens announced that that a consortium of the company and Sumitomo Electric Industries Ltd. has been awarded an order from Power Grid Corporation of India, the central transmission utility of India, to supply a high-voltage direct current (HVDC) transmission system. The total size of the order won by the consortium is US $520 million, of which the share of Siemens is approximately Rs 1682 crore. The about 200-kilometer-long HVDC connection will be India's first direct current link using voltage sourced converter (VSC) technology. On 11 May 2017, Siemens informed the stock exchanges that an internal investigation by the company has revealed that as a result of a collusion between certain employees through the use of fake purchase orders and related documentation and the failure of some other employees to adequately discharge their responsibilities under the internal financial control procedures laid down by the company, a fraud spread over several years prior to 31 March 2011 has been perpetrated on the company, the estimated impact of which is Rs 19 crore. Appropriate disciplinary action has been taken against the concerned employees and such further action in the matter as may be considered necessary is under consideration of the company's Board of Directors. On 25 September 2017, Siemens announced that it has transferred and assigned its leasehold interest in the property located at Plot No. 130 Pandurang Budhkar Marg, Worli, Mumbai to Whispering Heights Real Estate Private Limited, a joint venture entity of Reco Solis Pte. Ltd. (an affiliate of GIC, Singapore) and the K. Raheja Corp Group, for a total consideration of Rs 610 crore. Earlier, on 30 December 2016, Siemens and Whispering Heights Real Estate Private Limited executed a Memorandum of Understanding for the transfer and assignment of Siemens' leasehold interest in the Property located at Plot No. 130, Pandurang Budhkar Marg, Worli, Mumbai for a total consideration of Rs 610 crore in favour of the proposed assignee. The Board of Directors of Siemens at its meeting held on 21 February 2018 agreed in-principle to sell its Mobility Division and Rail Traction Drives business (included in Process Industries and Drives Division which provides products and services to Mobility Division) as also its wholly owned subsidiary Siemens Rail Automation Private Limited, to the parent company Siemens AG, Germany (SAG) or its subsidiary. The Mobility Division accounts for 10.46% of the turnover and 2.82% of the capital employed of the company for the year ended 30 September 2017. The Board also agreed in-principle to sell its Mechanical Drives business (included in Process Industries and Drives Division) to SAG or its subsidiary. The Board of Directors of the Company at its Meeting held on 26 August 2020 approved the sale and transfer of the Company's Mechanical Drives (MD') Business, to Flender Drives Private Limited, a subsidiary of Flender GmbH, which in turn is a subsidiary of Siemens AG, as a going concern on a slump sale basis, with effect from 01 January, 2021. On 01 January 2021, the Company divested its Mechanical Drives (MD) business as a going concern on a slump sale basis to Flender Drives Private Limited for a final consideration of Rs. 3,759 million. On 01 March 2021, the Company acquired 99.22% equity share capital of C&S Electric Limited and became a subsidiary of the Company. In FY 2021, the Company commissioned India's first high-voltage direct current link featuring voltage-sourced converter (VSC) technology for Power Grid Corporation of India Limited (POWERGRID). It partnered with POWERGRID to commission Static Synchronous Compensator (STATCOM) solutions at POWERGRID's substations at Bikaner, Fatehgarh and Bhadla. It signed a Memorandum of Understanding (MoU) with Switch Mobility Automotive Limited to execute e-mobility projects. It announced deployment of over 2 lakh Smart Meters in North Delhi, together with Tata Power Delhi Distribution Limited. In mobility space, it provided automated train technology systems at improving capacity, punctuality, reliability, and provide enhanced safety for passengers of Bengaluru Metro. It strengthened manufacturing footprint with opening of a medium voltage switchgear factory in Goa. It executed a Power Purchase Agreement and entered into an Agreement on 22nd October 2021 for subscription of 26% of the paid-up equity share capital of Sunsole Renewables Private Limited. On 1st July 2022, the Company sold and transferred its Large Drives Applications business as a going concern on a slump sale basis to Siemens Large Drives India Private Limited for a cash consideration of Rs 440 Crores. During FY 2021-22, by virtue of subscription of 26% of the paid-up equity share capital of Sunsole Renewables Private Limited (SRPL), Mumbai, India, Sunsole Renewables was made an Associate of the Company with effect from 28th February 2022. During the year 2023, the Company launched a Digital Twin Solution for streamlining paint processes at MG Motor, an automotive OEM. It launched Siemens Xcelerator, an open digital business platform consisting of three main elements - portfolio, ecosystem and marketplace.

Siemens Ltd Chairman Speech

Dear Shareholders,

The financial year 2021-22 was a volatile period for the global economy. While it started with optimism, with the economy opening up, consumption rising and production back to normal levels, developments on the geo-political and macro-economic fronts led to uncertainty. Speculation of a looming recession and slowing growth emerged as a result of inflation, material shortages, supply chain issues and most central banks around the world raising interest rates.

In such a scenario, the Indian economy remained resilient and continued growing. Business sentiment too was strong, as seen in increased domestic demand and consumption, aided by both public and private capital expenditure. The Central Government has been consistent in its policies and measures to maintain higher capital expenditure while also supporting the State Governments to follow suit. It is imperative that the core sectors and the small and medium enterprises (SMEs) continue to get capital investments to drive steady, all-round economic growth.

The resilience of all the businesses, which did remarkably well, is evidence of the Company's strong performance in Revenues, New Orders as well as Net Profits. With its wide-ranging portfolio, market-oriented organization structure, technology leadership and strong local competence, the Company is in a good position to partner with the country in its sustainable growth.

Financial Performance - Highlights

For the financial year 2022, the Company received New Orders valued at Rs 194,221 million, a 43.1 percent increase over Rs 135,709 million in the financial year 2021. The Order Backlog as of 30th September 2022 stood at Rs 171,830 million. Sales (excluding other operating revenues) were up by 18.3 percent to Rs 145,881 million, compared to Rs 123,280 million in the previous financial year.

Profits from Operations stood at Rs 13,974 million compared to Rs 12,061 million in the previous financial year. The Company's Profit before Tax stood at Rs 16,802 million compared to Rs 14,055 million in the previous financial year, an increase of 19.5 percent. The Profit after Tax for the financial year was Rs 12,497 million, an increase by 19.7 percent compared to Rs 10,440 million in the previous financial year. The Board of Directors of the Company has recommended a dividend of Rs 10/- per equity share of the face value of Rs 2/- each for the financial year ended 30th September 2022. The above financial performance is for continuing operations.

Business Performance - Highlights

Among the key highlights during the financial year 2022, the Company (as part of a consortium) booked a large order to the extent of approximately Rs 9 billion to develop the Metro Corridor for Pune Metro under the public-private partnership route. It won another order from Rail Vikas Nigam Limited, a listed Mini Ratna of Ministry of Railways, for signaling and telecommunication of two corridors of the Kolkata Metro Line 3 and 6.

The Company is contributing to the decarbonization initiatives at one of the largest aluminium companies in India - an overhaul of its ageing turbines promises CO2 reduction of around 100,000 tonnes per year. It received orders for electrification of a data center, cloud-based meter data management system for a state electricity distribution company and a turnkey 33kV switchyard at a deep all-weather port. It also implemented a digital twin solution for streamlining paint processes at an automotive original equipment manufacturer. The Company was also involved in automating the first indigenous greenfield COVID-19 vaccine production as well as providing automation for cranes at a steel plant.

Digital transformation

One of the highlights of the financial year 2022 was the launch in India of Siemens Xcelerator, an open and evolving digital business ecosystem. It comprises a comprehensive, curated portfolio that includes digital and Internet of Things (IoT)-enabled offerings (software, hardware and digital services) from Siemens and certified third parties.

The launch has happened at an opportune moment as the Company has experienced heightened interest in digital solutions from a wide range of customers. Many customers have expressed the need for solutions that address challenges specific to their verticals, and I am confident that many would see immense value in a platform that is sure to make their digital transformation easier, faster and at scale. This platform is especially beneficial to the thousands of SMEs, in which the Company has a strong footprint, as it can help them scale up, upgrade and adopt new designs and components much faster to stay competitive. The digital platform offers value creation for customers of all sizes in industry, buildings, grids and mobility. The curated portfolio of software, IoT-enabled hardware and digital services follows key design principles of interoperability, flexibility, openness and as-a-service.

The penetration of digital technologies across various verticals has increased considerably. Many of the Company's large customers have already implemented or shown high levels of interest in technologies such as Industry 4.0, digital twin, cybersecurity and artificial intelligence to achieve efficiency, productivity, flexibility, transparency, availability, scalability, speed, resilience and a host of other benefits.

Sustainability

Sustainability is firmly embedded in the Company's business strategy and is defined under the DEGREE framework (Decarbonization, Ethics, Governance, Resource Efficiency, Equity, Employability). Together with implementing sustainability measures within the organization, the Company has been supporting its customers to meet their own sustainability goals.

The Company has contributed to the setting up of e-charging infrastructure in Bengaluru and Chandigarh, and helped large cement and aluminium producers reduce their carbon footprint. The Company has regular awareness sessions (such as Integrity Dialogue and Collective Action) for employees, business partners and customers on Business Conduct Guidelines. It has a Supplier Code of Conduct as well as environmental and social due diligence (Governance). It has set up distributed energy systems in the Kalwa and Aurangabad factory premises and also at Indian Institute of Technology, Kanpur. While offsite solar energy powers the factories, IIT Kanpur benefits from integrating microgrid, solar, biomass, e-charging and smart metering technologies.

During the financial year 2022, the Company has laid emphasis on strengthening diversity and inclusivity through various Diversity, Equity & Inclusion initiatives. Lastly, the Company has contributed to improving employability having implemented the Dual Vocational Education Training (Dual VET) approach in around 300 Industrial Training Institutes (ITI) across 14 States (benefitting over 45,000 students annually).

The Company's intelligent and sustainable solutions support customer initiatives to increase competitiveness and address climate change challenges. A few of these technologies are eco-design transformers, grid control centers, high-efficiency motors and drives, electric locomotives and hotel load converters, power plant modernization solutions, building management systems, energy management and automation.

Business Responsibility

The Company considers it as its economic, environmental and social responsibility to foster sustainable local development and add value to the local economy in which it operates. The Company's CSR projects are long-term in nature designed to create sustainable value to society.

During the financial year 2022, Siemens Scholarship Program completed 10 years since it was launched. This is one of the Company's flagship projects that enables access to quality education to economically disadvantaged communities. So far, it has enabled 1,135 bright students from government engineering colleges from all over India and many of these scholars are now role models for more students to emulate.

Through the Company's CSR initiatives, over 23,000 students have been exposed to STEM (Science, Technology, Engineering and Mathematics) and over 32,145 ITI trainees have received training under Dual VET; seven self-sustaining livelihood centers running on solar energy have been set up; water storage facilities with a capacity of 292 million liters have been created; over 11,000 saplings have been planted; over 145 acres of land have been made arable; and humanitarian assistance provided to over 6,600 people affected by floods in Assam.

These are a few highlights - you will find more details in the CSR Report later in the Annual Report. The Company has also published a detailed Business Responsibility and Sustainability Report for the first time this financial year.

People Excellence

During the financial year 2022, the Company scaled up efforts to empower its people, develop a growth mindset and encourage continuous learning to help address the fast-paced market changes. The Company is known as a leading technology-focused company and its people have the opportunity to create a better tomorrow for society through technology solutions.

Along with retention of talent, the Company's focus has also been in upskilling employees, particularly in building competence in local engineering and niche skills, in high-growth vertical segments.

The Company continued to focus on employee wellbeing through initiatives such as 24/7 healthcare consultation services and diagnostic tests at discounted rates to employees and their family members. The wellbeing program has been tailored to meet the requirements of employees. Awareness sessions are conducted regularly to make employees aware of health aspects such as managing hypertension, nutrition, lifestyle ailments, amongst others.

Outlook

The global macroenvironment is expected to continue to remain challenging in the next financial year, with growth likely to further lose momentum. Central banks in various countries are facing the dilemma of prioritizing price stability over economic growth.

However, India is in a bright spot with an expected GDP growth rate of nearly 7 percent, and while the growth rate may be lower next year, it will still be among the fastest growing economies in the world. India has maintained good diplomatic relations with most countries and our heft is growing in the international arena. Political stability, diplomacy, favourable demographics, digital infrastructure and a distinct pathway to energy transition are factors that will transform India in the next decade.

Our long-term growth prospects depend on attracting consistent investments. While private investments are strong, continued public capital expenditure will be crucial. Capital expenditure channeled through the production-linked incentive scheme is on the rise, though large-scale investments are restricted to select sectors. The latest capacity utilization level of 72 percent should improve next year.

Our country's growth story remains intact - revenue collections are robust, though rising commodity prices coupled with interest rates have impacted profitability. The Government's commitment to maintain growth by empowering the States to accelerate capital expenditure along with programs such as 'Atmanirbhar Bharat', Power for All, Digital India, National Logistics Policy, National Rail Plan and Green Hydrogen Policy, to name a few, are encouraging for the nation's economy. India is rightly positioning itself to be a high-end manufacturing hub, and incremental capital expenditure is expected to be concentrated on areas where India needs to reduce external dependency on global supply chains.

India's GDP is expected to continue on its growth path. The pace of tendering for capital expenditure by both public and private sectors will continue, with increasing interest in digital and sustainability solutions. As public sector capital expenditure picks up pace, private sector capital expenditure would follow. The investments would be in key areas such as sustainable infrastructure, decarbonization, electrification, automation and digitalization. The Company is well positioned with its technology solutions, especially in digitalization and sustainability. The Company's profitable growth would continue to be driven by market momentum combined with strong execution, along with selective participation in large projects.

In conclusion, I would like to wish good health and safety and sincerely thank our customers, the board, the management, unions and most importantly, the dedicated employees for their consistent support and commitment to Siemens Limited during another challenging year.

Deepak S. Parekh
Chairman

   

Siemens Ltd Company History

Siemens Limited offers products, integrated solutions for industrial applications for manufacturing industries, drives for process industries, intelligent infrastructure and buildings, efficient and clean power generation from fossil fuels and oil & gas applications, transmission and distribution of electrical energy for passenger and freight transportation, including rail vehicles, rail automation and rail electrification systems. It focuses on the areas of electrification, automation and digitization. It is one of the leading producers of technologies for combined cycle turbines for power generation; power transmission and distribution solutions; infrastructure solutions for Smart Cities and transportation; automation and software solutions for industry, and also supplier of healthcare equipments. It has nearly 21 factories located across India and a nation-wide sales and service network. Siemens Ltd was incorporated in the year 1957 as Siemens Engineering and Manufacturing Company of India Pvt Ltd. In March 1957, the company entered into a collaboration agreement with two foreign companies, viz., Siemens & Halske AG and Siemens Schuckertwerke AG of West Germany. In the year 1966, the name of the Siemens & Halske AG was changed to Siemens AG and at the same time, it took over the manufacturing and business activities of Siemens-Schuckertwerke AG and Siemens-Reiniger-Werke AG. The name of the company was changed in the year 1967 from Siemens Engineering & Manufacturing Company of India Ltd to Siemens India Ltd. In the year 1970, Siemens-Reiniger-Werke AG and Siemens-Schuckertwerke AG were merged with Siemens AG. In the year 1985, the company incorporated a subsidiary company, namely Siemens Communication Systems Pvt Ltd to undertake the manufacture of certain items of Telecommunication equipment for export purposes. In the year 1987, the company established a software centre at the head office in Mumbai to cater to the software package requirements of the control and automation systems and also to tap the export market. In the year 1990, the company undertook a project to set up a plant at Waluj in Aurangabad district of Maharashtra for the manufacture of switchgears and miniature circuit breakers. In the year 1991, the Medical engineering division launched a mobile C-arm image intensifier system, saving valuable foreign exchange. Also, the motors, drives and automation division launched the microprocessor based modular drives for AC and DC applications, microprocessor based digital uninterrupted power supply and micro PLC Simatic 90U. The name of Siemens Communication Systems Pvt Ltd was changed to Siemens Information Systems Ltd In the year 1993, the company introduced State-of-the-art advanced process control system at Nashik in order to meet stringent control requirements of chemical and petro-chemical industries. In the year 1994, the company signed an MoU with Asia Chip Card, Singapore and Semiconductor Corp Ltd to enter into the smart card business. In the year 1996, the company suffered by loss due to discontinuous of the operations of the Telecommunications division. In the year 1998, Siemens Public Communications, a 70:30 joint venture company between Siemens Germany and Siemens Ltd India were formed. Siemens Telecom Ltd, a joint venture between Siemens and Bharti Telecom formally launched their Euroset and Emerald series of phones at Bangalore. In the year 1999, the company set up Unisphere Solutions Inc to target leadership in the converged voice and data and Internet networking solutions. In the year 2000, they launched total hotel solutions' for the hospitality industry to cater to the growing needs of the corporate travelers. They launched their new line of information and communication solutions - Hicom 150 E Office and ESL8i - targeted at small and medium enterprises. In the year 2001, Siemens Information Systems Ltd, a wholly owned subsidiary company signed a partnership contract with Avraham Goldratt Institute of USA (AGI). The company introduced different models of mobile phones, which cover various features in each. In the year 2004, the company made a strategic alliance with Aethra Telecomunicazioni, Italy to offer a range of video and audio conferencing solutions in India. In the year 2006, the company made an alliance with Huawei-3Com to offer high performance networks to Indian enterprises. In the year 2007, the company acquired a 77% of stake in iMetrex Technologies Ltd, which is a leading provider of products and solutions in the areas of electronic security, safety and building automation systems. In September 2007, the company acquired the balance 26% stake in Siemens Industrial Turbomachinery Services Pvt. Ltd. (SITS) from Pimac Engineers Pvt. Ltd. In November 2007, the company bagged an order worth of Rs 870 million (Rs 87 crore) from McNally Bharat Engineers Pvt Ltd for supplying electricals for Rashtriya Ispat Nigam Ltd's new Sinter Plant at Vizag. In January 2008, the company and the Government of Maharashtra signed a Letter of Understanding to support company's expansion plans in the State. In April 2008, the company took over Morgan Construction Co., the rolling mill specialist based in Worcester, Massachusetts, USA. In May 2008, the company's Medical Solutions installed Asia's first high definition positron emission tomography (HD PET). This high-end equipment is installed at Piramal Diagnostics (formerly Wellspring), Mumbai. During the year 2009-10, as per the scheme of amalgamation, Flender Ltd, a wholly owned subsidiary of the company was amalgamated with the company with effect from October 1, 2009. In January 8, 2010, the company acquired the balance 13.85% stake Siemens Building Technologies Pvt Ltd, Chennai (SBTPL) comprising of 517,209 Equity Shares of Rs 10 each, from the promoters of SBTPL for a consideration of Rs 702.51 million. With this acquisition, SBTPL became a wholly owned subsidiary of the company. During the year 2010-11, the company created a new Sector 'Infrastructure & Cities' in line with Siemens global strategy and in order to achieve better portfolio synergy. The new sector will offer solutions to the cities for mobility, environmental protection and energy savings. This sector will be having five divisions (Mobility, Rail System, Low & Medium Voltage, Smart Grid and Building Technologies) and these divisions will work closer to their target markets and develop additional business opportunities in the growing market of cities. During the year, as per the scheme of amalgamation, Siemens Building Technologies Pvt Ltd and Vista (a wholly owned subsidiary of SBTPL) were amalgamated with the company with effect from October 1, 2010. Consequent to the amalgamation of SBTPL, the three subsidiaries of SBTPL i.e. iMetrex Technologies Ltd., Ireland (ITL), Europlex Technologies (UK) Ltd., UK (ET UK) and Europlex Technologies (Ireland) Ltd., Ireland (ET IL) became subsidiaries of the company. During the year, ITL, ET UK & ET IL were sold to Siemens Schweiz AG, Switzerland (a subsidiary of Siemens AG) for a total consideration of Euro 2.95 million During the year, as per the scheme of amalgamation Siemens Healthcare Diagnostics Ltd was amalgamated with the company with effect from March 14, 2011. In April 2011, Siemens Rolling Stock Pvt Ltd, a wholly owned subsidiary of the company was amalgamated with the company with effect from October 1, 2009. In September 2011, the company received an order from Siemens AG valued at Rs 294.50 crore for a transmission project of Power Grid of Corporation of Bangladesh. The completion period is 24 months. The company has approved the amalgamation of Siemens VAI Metals Technologies Pvt Ltd, Kolkata (SVAI), a 100% Siemens AG Company and Morgan Construction Company India Pvt Ltd, Mumbai (Morgan) a wholly owned subsidiary of SVAI with the company. The appointed date was fixed as October 1, 2011. In 2012, The Company won contract to modernize electricity distribution system for Maharashtra State Electricity Distribution Company. The company inked contract with PGCIL to construct 765 kV test lab in Bina, MP. The Company started operations in two greenfield factor in Goa. In 2013 Siemens launches SIMATIC S7-1500 with TIA Portal. Siemens installs Asia's first SOMATOM Definition Edge CT scanner at PSG Hospitals, Coimbatore. Siemens Limited wins contract to build first private sector-funded GIS substation in Bangladesh. Siemens wins order to modernize Korba Stage-II plant of NTPC. Siemens wins repeat order for Gurgaon Metro South Extension project. Siemens Corporate Citizenship Film Runner-up at Global Sustainability Awards. Siemens-powered Rapid Metro Rail Gurgaon begins operations. Siemens inaugurates State-of-the-Art Test Center for Motors. Siemens installs SOMATOM Perspective 128 slice CT scanner at SRL Diagnostics-Speedscans, Surat. Siemens introduces cutting-edge patient care technology with two new solutions - Biograph mCT Flow & Symbia Intevo. In 2014, the company launches best-fit controller for mid-sized DCS market.- AS 410 SMART. The company also launches optimized servo drive system for motion control applications. The company installs world's longest lab automation track at Thyrocare. The company Installs India's First Ultrasound System with Wireless Transducers at K.G. Hospital, Coimbatore. The company bags orders from Reliance Industries for supply of steam turbines. The company successfully delivers 1200kV CVT to National Test Station, Power Grid. The company wins international recognition for its motors manufactured in India. The company wins order worth Rs 317 crores from Bihar Grid Company Ltd. The company surpasses 100,000 milestone for energy-efficient industrial motors. In 2015, the company has bagged orders worth Rs 450 crore from Varanasi-based Diesel Locomotive Works. The company wins Rs. 55 crore order for High Voltage Circuit Breakers from Algeria. The company wins order worth Rs. 123 crore from Power Grid Company of Bangladesh. The Company has received an order worth Rs 67 crore for supply of high voltage gas insulated switchgear from Larsen and Toubro. The company has powers cities across three states Punjab, Uttarakhand and Haryana with Smart Grid solutions. The company wins order worth Rs. 81 crore from Diesel Locomotive Works. The company has received an order of Rs 79 crore from Pune based wind turbine supplier, Suzlon Energy Limited. IL&FS & GIFTCL sign MoU with the company to develop Smart Mobility Solutions for GIFT. The company has opened up a global skill centre for occupational safety in Mumbai in collaboration with TUV Rheinland India. On 13 October 2015, Siemens announced that, together with its parent company Siemens AG, Germany, it has won an order totalling approximately Rs 183 crore from NTPC. The component of Siemens Ltd. in the order is approximately Rs 97 crore. The scope of the works includes modernization as well as maintenance of Controls and Instrumentation at NTPC's Dadri Power Gas Station. On 7 December 2015, Siemens announced that it has won a crucial order approximately worth Rs 377 crore from Indian Railways' Diesel Locomotive Works (DLW), Varanasi. The scope of work for the project involves supply of 1890 Traction Motors for 4500 HP Diesel Electric Locomotives. The Traction Motors will be produced at Kalwa Factory of Siemens Limited. On 10 December 2015, Siemens Ltd. announced that it has won an order worth approximately Rs 102 crore to supply a 400 kV Gas Insulated Switchgear (GIS) Substation to West Bengal State Electricity Transmission Company Limited (WBSETCL). The scope of the order includes engineering, supply, installation and commissioning of the GIS Substation. On 22 January 2016, Siemens Ltd., announced that it has won a crucial order approximately worth Rs 112 crore from Rajasthan Rajya Vidyut Prasaran Nigam Limited, a State Power Transmission Utility owned by Government of Rajasthan and headquartered in Jaipur. The scope of work for the project involves engineering, supply, installation, testing and commissioning of 400 kv /220kV Air Insulated Substations. On 22 January 2016, Siemens Ltd., together with Siemens Malaysia, announced that it has won a crucial order approximately worth Rs 155 crore from Malaysia-based PSI International, one of the largest petrochemical companies of the world and a subsidiary of Petronas. The scope of work for the project involves supply of 420kV Gas Insulated Switchgear for PSI International's new petrochemical (RAPID) Greenfield project. The Board of Directors of Siemens at its meeting held on 4 March 2016 approved the sale and transfer of its Healthcare undertaking, as a going concern on a slump sale basis, for a sale consideration of Rs 3050 crore to Siemens Healthcare Private Limited, a subsidiary of Siemens AG. This transaction follows Siemens AG's global strategy of managing its Healthcare business under a separately-managed company. Over 85% of Siemens Ltd's Healthcare revenues are currently derived from products imported from parent Siemens AG. Significant management focus, including investments will be needed in finding appropriate products and solutions to meet the growing demands of the Indian market. As there are limited synergies between the Healthcare and other businesses of Siemens Ltd, this transaction will enable Siemens Ltd to increase its focus on, and capital allocation to Power Generation, Transmission and Distribution, Mobility, Industrial Automation and Smart Cities segments while enabling Siemens AG to further strengthen its focus on the Healthcare segment in India, by aligning it with its global strategy and management framework. On 6 April 2016, Siemens announced that it has started dispatch of the largest-ever Made in India' single-phase Generator Step-Up (GSU) Transformer of rating 315 MVA, 23.5kV/420kV for installation at NTPC's Kudgi Thermal Power Station in Bijapur, Karnataka. This transformer is an essential component of the Power Station, which once operational will boost the high-capacity power generation for the southern states of Karnataka, Andhra Pradesh, Tamil Nadu and Kerala. NTPC has ordered 10 units of these GSU transformers on Siemens. On 23 May 2016, Siemens announced that it has strengthened its partnership with Sri Lanka by signing a Memorandum of Understanding (MoU) with the Ministry of Megapolis and Western Development, Sri Lanka to offer expertise and best practices from its globally-proven, state-of-the-art, Sustainable, Smart City solutions portfolio. The prime objective of the Ministry of Megapolis and Western Development is to bring systematic changes and development processes into the urban community in Sri Lanka, which will ensure that the inhabitants of urban areas become a part of socio-economic development of the country while maintaining high levels in quality of life. This will pave the way for making Sri Lanka a commercial, naval and aviation hub of Asia. On 8 June 2016, Siemens Ltd. announced that, together with Siemens Bangladesh Ltd., it has won an order worth approximately Rs 113 crore from Power Grid Company of Bangladesh Limited (PGCB) to design, procure, supply, install, test and commission 230/132kV Gas Insulated Switchgear Substation along with 225/300 MVA, 132/33 KV and 50/75 MVA Transformers at Keraniganj within Dhaka. On 13 June 2016, Siemens Ltd. announced that it has won an order worth approximately Rs 78 crore from Power Grid Corporation of India Limited (PGCIL) to design, supply, install and commission 7 X 500MVA, 765/400/33kV, Phase Autotransformers at Bhuj. On 22 June 2016, Siemens Ltd. announced that it has won an order worth approximately Rs 83 crore from Indian Railways' Diesel Locomotive Works (DLW), Varanasi. The order is to design, supply and install 40 Alternating Current (AC) Traction Systems for dual-cab high horsepower diesel engine locomotives. On 27 June 2016, Siemens Ltd. announced that it has won an order worth approximately Rs 570 crore to supply Static Synchronous Compensator (STATCOM) solutions to Power Grid Corporation of India Ltd. (PGCIL). The scope of the order includes design, engineering, supply, civil, installation, testing and commissioning of STATCOMs at four substation locations ofPGCIL: Ranchi, Rourkela, Kishenganj and Jeypore across the states of Bihar, Jharkhand and Odisha. Cutting-edge technology from Siemens will result in the installation of one of the world's largest STATCOM projects at 400 kV level with a dynamic swing range of 2000MVAr and 1250MVAr mechanically switched components. On 3 August 2016, Siemens Ltd. announced that it has received a crucial order worth approximately Rs 217 crore for Power Grid Company of Bangladesh Limited (PGCB) project from Siemens AG, Germany to supply 400kV / 230 kV Switch Yard Equipments, Reactors, Power Transformers, Fire Fighting Systems, Air-conditioning Systems, Auxiliary Power System, Building Management Systems, Illumination Systems, AC Control and Protections, Engineering for Civil and Plant for 500 MW High Voltage Direct Current (HVDC) Station. The Board of Directors of Siemens at its meeting held on 5 December 2016 approved the sale and transfer of the company's business of engineering, design and development services for global wind power business (hereinafter referred to as SLWP Business') to a subsidiary (to be incorporated) of Siemens Wind HoldCo Sociedad Limitada (SA), Spain, which in turn is a subsidiary of Siemens AG, Germany (SAG), as going concern on a slump sale basis with effect from 1 January 2017 for a cash consideration of Rs 7.5 crore. The SLWP Business consists providing engineering services exclusively for the component design of Towers, Nacelle, Hub and Generator to the Siemens Wind Power A/S (Wind Power Division) in terms of an annual contract on a cost plus mark up basis. On 13 January 2017, Siemens Ltd. announced that, it has won an order worth approximately Rs 98 crore from Diesel Locomotive Works (DLW) to design, supply and install 48 Alternating Current (AC) Traction systems for Dual Cab High Horsepower Diesel Engine locomotive for Indian Railways. The AC Traction systems will be produced at Nashik Factory of Siemens Limited. The systems have been developed based on the state of art Insulated Gate Bipolar Transistors (IGBTs) technologies. The principle benefit of IGBTs over Gate Turnoffthyristors (GTOs) is that it reduces the current required and therefore the heat generated, giving smaller and lighter units. On 18 January 2017, Siemens Ltd announced the launch of its new range of energy efficient motor SIMOTICS 1LE7. The new SIMOTICS 1LE7 range of motors is the newest entrant in the existing range of motors offered by Siemens in India. These motors offer efficiency values higher than the IE3 standards - which is currently the highest efficiency class as recognized by Indian Standards. On 24 January 2017, Siemens Ltd. announced that it has won an order worth approximately Rs 366 crore from Oil and Natural Gas Corporation Limited (ONGC). The order includes supply of material for overhauling of 18 Power Turbines through Zero Hour Overhaul and Time Continued Overhaul. The Zero Hour Overhauling will be first of its kind in India and involves the overhaul of Power Turbines to zero hour status. Under the new concept of Zero Hour Overhaul, the Power Turbine will perform almost as new - capable of a safe run of another 100,000 hours before the next overhaul. This will help in reducing down-time and increase in productivity because of elimination of at-least one intermediate overhaul. On 10 February 2017, Siemens Ltd. announced that it has won an order worth approximately Rs 101 crore from Delhi Transco Ltd. (DTL). The order includes installing 220/66/33kV Gas Insulated Switchgear (GIS) substation at R.K. Puram, New Delhi. DTL is the State Transmission Utility of New Delhi. On 16 February 2017, Siemens announced that it has received an order worth approximately Rs 119 crore from Sterlite Power Grid Ventures Ltd. for design, engineering, procurement, manufacture, supply and commissioning of equipment for 765/400kV Air Insulated Switchgear (AIS) Substation at Khandwa (Madhya Pradesh) and 765kV AIS Bay Extension Equipment at Dhule (Maharashtra) for Khargone Transmission Ltd. On 20 February 2017, Siemens announced that the company along with Siemens Rail Automation Ltd. S.A.U Spain has jointly won an order worth Rs 287 crore to supply state-of-the-art signaling technology for the first two metro lines of the Nagpur Metro i.e. the North-South and the East-West Corridors. Siemens Limited's share of the contract is Rs 146 crore (all inclusive).The project comprises the deployment and installation of the Siemens communications-based train control (CBTC) solution Trainguard MT for 38.2 kilometers of double track with 36 stations and two depots, as well as onboard equipment for 23 three-cars trains. On 23 March 2017, Siemens announced that it has won an order worth approximately Rs 187.4 crore from Bangladesh Rural Electrification Board (BREB), Dhaka. The project includes construction of new 33/11 kV Air Insulated Switchgear substations in Dhaka, Chittagong and Sylhet. BREB is an electricity distribution provider under the Government of Bangladesh responsible for providing electricity to the rural parts of Bangladesh. The project is part of BREB's efforts to upgrade the country's rural electricity distribution system and will contribute to accomplishing the Government of Bangladesh's Vision of 'Electricity for All by 2021'. On 29 March 2017, Siemens announced that that a consortium of the company and Sumitomo Electric Industries Ltd. has been awarded an order from Power Grid Corporation of India, the central transmission utility of India, to supply a high-voltage direct current (HVDC) transmission system. The total size of the order won by the consortium is US $520 million, of which the share of Siemens is approximately Rs 1682 crore. The about 200-kilometer-long HVDC connection will be India's first direct current link using voltage sourced converter (VSC) technology. On 11 May 2017, Siemens informed the stock exchanges that an internal investigation by the company has revealed that as a result of a collusion between certain employees through the use of fake purchase orders and related documentation and the failure of some other employees to adequately discharge their responsibilities under the internal financial control procedures laid down by the company, a fraud spread over several years prior to 31 March 2011 has been perpetrated on the company, the estimated impact of which is Rs 19 crore. Appropriate disciplinary action has been taken against the concerned employees and such further action in the matter as may be considered necessary is under consideration of the company's Board of Directors. On 25 September 2017, Siemens announced that it has transferred and assigned its leasehold interest in the property located at Plot No. 130 Pandurang Budhkar Marg, Worli, Mumbai to Whispering Heights Real Estate Private Limited, a joint venture entity of Reco Solis Pte. Ltd. (an affiliate of GIC, Singapore) and the K. Raheja Corp Group, for a total consideration of Rs 610 crore. Earlier, on 30 December 2016, Siemens and Whispering Heights Real Estate Private Limited executed a Memorandum of Understanding for the transfer and assignment of Siemens' leasehold interest in the Property located at Plot No. 130, Pandurang Budhkar Marg, Worli, Mumbai for a total consideration of Rs 610 crore in favour of the proposed assignee. The Board of Directors of Siemens at its meeting held on 21 February 2018 agreed in-principle to sell its Mobility Division and Rail Traction Drives business (included in Process Industries and Drives Division which provides products and services to Mobility Division) as also its wholly owned subsidiary Siemens Rail Automation Private Limited, to the parent company Siemens AG, Germany (SAG) or its subsidiary. The Mobility Division accounts for 10.46% of the turnover and 2.82% of the capital employed of the company for the year ended 30 September 2017. The Board also agreed in-principle to sell its Mechanical Drives business (included in Process Industries and Drives Division) to SAG or its subsidiary. The Board of Directors of the Company at its Meeting held on 26 August 2020 approved the sale and transfer of the Company's Mechanical Drives (MD') Business, to Flender Drives Private Limited, a subsidiary of Flender GmbH, which in turn is a subsidiary of Siemens AG, as a going concern on a slump sale basis, with effect from 01 January, 2021. On 01 January 2021, the Company divested its Mechanical Drives (MD) business as a going concern on a slump sale basis to Flender Drives Private Limited for a final consideration of Rs. 3,759 million. On 01 March 2021, the Company acquired 99.22% equity share capital of C&S Electric Limited and became a subsidiary of the Company. In FY 2021, the Company commissioned India's first high-voltage direct current link featuring voltage-sourced converter (VSC) technology for Power Grid Corporation of India Limited (POWERGRID). It partnered with POWERGRID to commission Static Synchronous Compensator (STATCOM) solutions at POWERGRID's substations at Bikaner, Fatehgarh and Bhadla. It signed a Memorandum of Understanding (MoU) with Switch Mobility Automotive Limited to execute e-mobility projects. It announced deployment of over 2 lakh Smart Meters in North Delhi, together with Tata Power Delhi Distribution Limited. In mobility space, it provided automated train technology systems at improving capacity, punctuality, reliability, and provide enhanced safety for passengers of Bengaluru Metro. It strengthened manufacturing footprint with opening of a medium voltage switchgear factory in Goa. It executed a Power Purchase Agreement and entered into an Agreement on 22nd October 2021 for subscription of 26% of the paid-up equity share capital of Sunsole Renewables Private Limited. On 1st July 2022, the Company sold and transferred its Large Drives Applications business as a going concern on a slump sale basis to Siemens Large Drives India Private Limited for a cash consideration of Rs 440 Crores. During FY 2021-22, by virtue of subscription of 26% of the paid-up equity share capital of Sunsole Renewables Private Limited (SRPL), Mumbai, India, Sunsole Renewables was made an Associate of the Company with effect from 28th February 2022. During the year 2023, the Company launched a Digital Twin Solution for streamlining paint processes at MG Motor, an automotive OEM. It launched Siemens Xcelerator, an open digital business platform consisting of three main elements - portfolio, ecosystem and marketplace.

Siemens Ltd Directors Reports

Dear Members,

The Directors have pleasure in presenting the 64th Annual Report of your Company and the Audited Financial Statements for the year ended 30th September, 2021.

1. Financial Performance

(Rs in million)

Standalone
2020-21 2019-20
Turnover 131,045 105,407
Less: Expenses 118,361 98,020
Profit from operations before other income and finance costs 12,684 7,387
Add: Other Income 2,190 3,102
Less: Finance costs 196 296
Add: Gain from sale of discontinued operations 487 -
Profit before tax 15,165 10,913
Less: Tax 4,135 2,628
Profit for the year 11,030 7,565
Other Comprehensive income 275 (278)
Impact of Ind AS 116 on opening reserves - (72)
Balance in the Statement of Profit and Loss brought forward 60,240 56,030
Amount available for appropriation 71,545 63,245
Appropriations:
Proposed Dividend 2,493 2,493
Dividend Distribution Tax - 512
Balance in the Statement of Profit and Loss carried forward 69,052 60,240

2. State of the Company's affairs

i. Operations

The Turnover of the Company was Rs 131,045 million for the year ended 30th September, 2021 as compared to Rs 105,407 million in the previous year. The Company's Profit from Operations for the year ended 30th September, 2021 was Rs 12,684 million as compared to Rs 7,387 million in the previous year.

The Profit after Tax for the year ended 30th September, 2021 was Rs 11,030 million as compared to Rs 7,565 million during 30th September, 2020.

ii. Acquisitions and carve out

a. Acquisition of C&S Electric Limited

On 1st March 2021, Company acquired 99.22% (approximately) equity shares of C&S Electric Limited from its promoters, for an aggregate consideration of Rs 21,000 million on a cash free / debt free basis on terms and conditions that are mutually agreed between the parties to the transaction.

b. Sale and transfer of Mechanical Drives business

On 1st January 2021, the Company sold and transferred its Mechanical Drives business as a going concern on a slump sale basis to Flender Drives Private Limited for a consideration of Rs 3,759 million (after adjusting the consideration of Rs 4,400 million for changes in net current assets and capital expenditure as per the terms and conditions agreed between the parties).

c. Subscription to Equity share capital of Sunsole Renewables Private Limited

The Company in its continuing efforts to reduce its carbon footprint and the impact on climate change, has decided to procure solar power for its manufacturing facility located at Kalwa, Maharashtra.

In this regard, the Company has executed a Power Purchase Agreement and has entered into a Share Subscription and Shareholders Agreement on 22nd October 2021 for the subscription of 26% of the paid-up equity share capital of Sunsole Renewables Private Limited, Mumbai, India, for an amount not exceeding Rs 16 million subject to fulfilment of conditions precedent as agreed between the parties.

iii. Update on second wave of COVID-19

The second surge of the pandemic had impacted human lives in an unprecedented manner. A cross-functional Siemens India Task Force Team has been working since March 2020 to coordinate the implementation of concrete measures to support employees. In addition, the Company has provided testing kits, oxygen concentrators, oxygen generators etc. to hospitals around the country.

3. Dividend

The Board of Directors has recommended a dividend of Rs 8 per equity share having face value of Rs 2 each, subject to the approval of the Members at the 64th Annual General Meeting. In the previous year, the Company paid a Dividend of Rs 7 per equity share of Rs 2 each.

Pursuant to the requirements of Regulation 43A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("LODR"), the Dividend Distribution Policy of the Company is available on the Company's website at https://new.siemens.com/in/en/company/investor-relations.html

4. Share Capital

During the year under review, there was no change in share capital of the Company.

5. Subsidiary companies

Siemens Rail Automation Private Limited (''SRAPL'') is engaged in the business of manufacture, supply, design, installation and commissioning of Railway Signaling equipment consisting of trackside and on board equipment.

The Company has not made any equity investment in SRAPL during the year.

During the year under review, by virtue of acquisition of 99.22% (approximately) equity shares of C&S Electric Limited ("C&S") by the Company, C&S has become a subsidiary of the Company.

C&S is engaged in the business of manufacturing and distribution of low-voltage products and systems business (such as switchboards, power distribution products, control products, protection relays), measurement devices, busduct and busbar trunking.

SRAPL and C&S are non-material and unlisted subsidiaries of the Company pursuant to LODR.

The Company has obtained a certificate from the Statutory Auditor certifying that the Company is in compliance with the Foreign Exchange Management Act, 1999 with respect to downstream investment.

A summary of performance of subsidiaries is provided below.

The turnover of SRAPL for FY 2020-21 stood at '1,130 million (0.8%) of consolidated turnover of the Company as compared to Rs 913 million in the previous year and its Profit from Operations for the year ended 30th September, 2021 was Rs 303 million as compared to Rs 117 million in the previous year.

SRAPL has reported Profit after Tax for the year ended 30th September, 2021 of Rs 265 million as compared to Rs 121 million during FY 2019-20.

The turnover of C&S for the period from 1st March 2021 to 30th September 2021 stood at Rs 5932 million (4.3%) of consolidated turnover of the Company and its Profit from Operations for the period from 1st March 2021 to 30th September 2021 was Rs 163 million.

C&S has reported Profit after Tax for the period 1st March 2021 to 30th September 2021 of Rs 77 million.

The Company does not have any joint venture or associate companies during the year.

Pursuant to the provisions of Section 129(3) of the Companies Act, 2013 ("the Act"), a statement containing salient features of Financial Statements of SRAPL and C&S in the prescribed Form AOC-1 is provided in Annexure I forming part of this Report. The Financial Statements of subsidiaries are available on the Company's website at https://new.siemens.com/ in/en/company/investor-relations/financials-of-our-subsidiaries.html and the same are also available for inspection as per the details mentioned in notice of the 64th AGM. Your Company will also make available these documents upon request by any Member of the Company interested in obtaining the same.

Consolidated Financial Statements

The Annual Audited Consolidated Financial Statements together with the Report of Auditors' thereon forms part of this Annual Report.

6. Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo

Information pursuant to Section 134(3)(m) of the Act read with Rule 8(3) of the Companies (Accounts) Rules, 2014 is provided in Annexure II forming part of this Report.

7. Corporate Governance

A detailed review of the operations, performance and future outlook of the Company and its businesses is given in the Management Discussion and Analysis, which forms part of this Report as Annexure III.

Pursuant to the requirements of LODR, a detailed report on Corporate Governance along with the Auditor's Certificate thereon forms part of this Report as Annexure IV.

General Shareholder Information forms part of this Report as Annexure V.

8. Directors and Key Managerial Personnel

During FY 2020-21, Mr. Cedrik Neike (DIN:07810035), resigned as Special Director (Nominee of Siemens AG) with effect from close of business hours of 30th November 2020.

Mr. Matthias Rebellius (DIN: 08975071) appointed as Special Director (Nominee of Siemens AG) with effect from 1st December 2020.

Mr. Yezdi Malegam (DIN: 00092017) ceased to be Independent Director of the Company with effect from 30th January 2021 upon completion of his tenure.

Ms. Mariel von Schumann (DIN:06625674) ceased to be Director of the Company with effect from 12th February 2021 as she did not seek re-appointment.

Mr. Josef Kaeser (DIN: 00867264) resigned as a Director of the Company with effect from 1st March 2021.

During FY 2020-21, based on recommendation of the Nomination and Remuneration Committee ("NRC) of the Company, the Board of Directors has appointed Mr. Willem Rudolf Basson (DIN: 009081871) as Director in the casual vacancy caused by the resignation of Mr. Kaeser with effect from 1st March 2021 to hold office up-to 64th Annual General Meeting of the Company pursuant to provisions of the Act.

The Board of Directors, on the recommendation of NRC has approved the appointment of Mr. Willem Rudolf Basson as Director (Non-Executive Non-Independent Director) with effect from the 64th Annual General Meeting subject to approval of the Members. Resolution for appointment of Mr. Basson as Director of the Company forms part of notice of 64th Annual General Meeting of the Company.

The Board places on record the appreciation for the valuable services, support and guidance rendered by Mr. Neike, Mr. Malegam, Ms. von Schumann and Mr. Kaeser during their tenure as Director of the Company.

The Independent Directors of the Company viz. Mr. Deepak S. Parekh (DIN: 00009078), Mr. Mehernosh. B. Kapadia (DIN: 00046612) and Ms. Anjali Bansal (DIN: 00207746) have furnished declarations to the Company under Section 149(7) of the Act, confirming that they meet the criteria prescribed for Independent Directors under Section 149(6) of the Act as well as under LODR and that their names have been included in the data bank of Independent Directors as prescribed under the Act.

The Board of Directors is of the opinion that Independent Directors possess necessary expertise, integrity and experience.

Dr. Daniel Spindler (DIN: 08533833) is liable to retire by rotation at the ensuing Annual General Meeting and being eligible offers himself for re-appointment.

Mr. Sunil Mathur, Managing Director and Chief Executive Officer (DIN:02261944), Dr. Daniel Spindler, Executive Director and Chief Financial Officer (DIN: 08533833) and Mr. Ketan Thaker, Company Secretary (ACS No.: 16250) are the Key Managerial Personnel of the Company as on the date of this Report.

9. Board Meetings

During FY 2020-21, four meetings of the Board of Directors were held. The details of the attendance of Directors at the Board Meetings are mentioned in the report on Corporate Governance annexed hereto.

10. Annual evaluation of Board, its Committees and individual Directors

The details of the Annual evaluation of Board, its Committees and individual Directors are mentioned in the report on the Corporate Governance.

11. Audit Committee

The Company has an Audit Committee pursuant to the requirements of the Act read with the rules framed thereunder and LODR. The details relating to the same are given in the report on Corporate Governance forming part of this Report. During FY 2020-21, the recommendations of Audit Committee were duly accepted by the Board.

12. Corporate Social Responsibility

At Siemens, we have an unrelenting drive and promise to sustainably improve living conditions for as many people as possible. We deliver on this promise by combining our innovation with our know-how - in the areas of electrification and automation, enhanced by digitalization and by acting as a reliable and responsible partner. Our company-wide Corporate Citizenship framework forms a part of the Sustainability & Citizenship priority area. The Company considers it as its economic, environmental and social responsibility to foster sustainable local development as well as add value to the local economy in which it operates.

In accordance with the provisions of Section 135 of the Act and Rules framed there under, the Company has a Corporate Social Responsibility ("CSR") Committee of Directors comprising of Mr. Deepak S. Parekh (Chairman) (DIN: 00009078), Mr. Johannes Apitzsch, with effect from 13th February 2021 (DIN: 05259354), Mr. Sunil Mathur (DIN: 02261944) and Dr. Daniel Spindler (DIN: 08533833). Ms. Schumann was Member of CSR Committee until 12th February 2021. The Committee reviews and monitors the CSR projects and expenditure undertaken by the Company on a regular basis.

The Company implements the CSR projects directly as well as through implementing partners. The details of such initiatives, CSR spend etc., have been provided as Annexure VI to this Report, as required under the Companies (Corporate Social Responsibility Policy) Rules, 2014.

13. Remuneration Policy

On recommendation of NRC, the Company has formulated, amongst others, a policy on Directors' appointment as well as Remuneration Policy for Directors, Key Managerial Personnel, Senior Management and other employees. The details of the Remuneration policy are mentioned in the report on the Corporate Governance and the same is also placed on the Company's website at https://new.siemens.com/in/en/company/investor-relations.html

A Statement of Disclosure of Remuneration pursuant to Section 197 of the Act read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is provided as Annexure VII forming part of this Report.

14. Vigil Mechanism

As per the provisions of Section 177(9) of the Act and Regulation 22 of LODR, the Company is required to establish a Vigil Mechanism for Directors and employees to report genuine concerns. The Company has a Policy for Prevention, Detection and Investigation of Frauds and Protection of Whistleblowers ("the Whistleblower Policy") in place and the details of the Whistleblower Policy are provided in the Report on Corporate Governance forming part of this Report. The Company has disclosed information about the establishment of the Whistleblower Policy on its website https://new.siemens.com/in/en/ company/investor-relations/business-ethics.html

15. Risk Management Policy

Siemens Enterprise Risk Management (ERM) is a company-wide framework of methods and processes used to identify, assess, monitor and mitigate risks and seize opportunities related to achievement of Siemens business objectives. The Siemens ERM approach is based on the globally accepted "The Committee of Sponsoring Organizations of the Treadway Commission" ("COSO") framework i.e. "ERM - Integrated Framework". The COSO framework provides a generic concept which has been customized to reflect Company's requirements.

Major risks identified by the Business Divisions and Corporate Departments are systematically addressed through mitigating actions on a continuing basis. The Company has a Risk Management Committee in accordance with the requirements of LODR to, inter alia, monitor the risks and their mitigating actions. The Board of Directors of the Company also reviews the Risk Assessment and Mitigation Report annually.

Details in respect of adequacy of internal financial controls with reference to the Financial Statements are given in the Management's Discussion and Analysis, which forms part of this Report.

16. Directors' Responsibility Statement

Pursuant to the provisions of Section 134(3)(c) read with Section 134(5) of the Act, the Directors confirm that, to the best of their knowledge and belief:

a) that in the preparation of the Annual Financial Statements for the year ended 30th September 2021, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any;

b) that such accounting policies have been selected and applied consistently and judgment and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 30th September 2021 and of the profit of the Company for the year ended on that date;

c) that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) that the annual Financial Statements have been prepared on a going concern basis;

e) that proper internal financial controls are in place and that such internal financial controls were adequate and were operating effectively;

f) that proper systems have been devised to ensure compliance with the provisions of all applicable laws and are adequate and operating effectively.

17. Annual Return

In accordance with the provisions of Section 92(3) of the Act, Annual Return of the Company is hosted on website of the Company at https://new.siemens.com/in/en/company/investor-relations/annual-reports.html

18. Particulars of contracts or arrangements with Related Parties

The particulars of contracts or arrangements with Related Parties referred to in Section 188(1) of the Act, in the prescribed Form AOC - 2, forms part of this report as Annexure VIII.

19. Particulars of Loans, Guarantees or Investments

A statement providing particulars of loans, guarantees or investments under Section 186 of the Act is provided as Annexure IX forming part of this Report.

20. Business Responsibility Report

In compliance with Regulation 34(2)(f) of LODR, Business Responsibility Report forms part of the Annual Report, describing initiatives taken by the Company from an environmental, social and governance perspective.

As a Green Initiative, the BRR for FY 2020-21 has been hosted on the Company's website, which can be accessed at https://new.siemens.com/in/en/company/investor-relations/annnual-report.html

Any Member interested in obtaining a copy of BRR may write to the Company Secretary.

21. Fixed Deposits

Your Company has not accepted any fixed deposits and, as such, no amount of principal or interest was outstanding as of the Balance Sheet date.

22. Amount, if any, proposed to transfer to reserves

The Company has not made transfer to reserves during FY 2020-21.

23. Employees

Your Directors place on record their deep appreciation for the contribution made by the employees of the Company at all levels.

The information about employees particulars as required under Section 197(12) of the Act read with Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is provided in the Annexure forming part of the Report. In terms of Section 136 of the Act, the Report and Financial Statements are being sent to the Members and others entitled thereto, excluding aforesaid Annexure. The said information is available for inspection by the Members as per the details mentioned in notice of the 64th AGM. Any Member interested in obtaining a copy of the same may write to the Company Secretary.

24. Policy on Prevention of Sexual Harassment at Workplace

The Company has a Policy on Prevention of Sexual Harassment at Workplace in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and Rules framed thereunder and Internal Complaints Committee has also been set up to redress complaints received regarding sexual harassment. During the year, no complaint with allegations of sexual harassment was received by the Company.

25. Auditors

i. The Report issued by Messrs. B S R & Co. LLP, Chartered Accountants (Firm Registration No.101248W/W-100022), Statutory Auditor for FY 2020-21 does not contain any qualification, reservation, adverse remark or disclaimer.

ii. The Board of Directors, on recommendation of the Audit Committee, has re-appointed Messrs. R. Nanabhoy & Co., Cost Accountants (Firm Registration No. 000010), as Cost Auditor of the Company, for the Financial Year ending 30th September 2022, at a remuneration as mentioned in the Notice convening the 64th AGM and same is recommended for your consideration and ratification.

The Company had filed the Cost Audit Report for FY 2019-20 on 3rd March 2021, which is within the time limit prescribed under the Companies (Cost Records and Audit) Rules, 2014.

As per requirements of Section 148 of the Act read with the Companies (Cost Records and Audit) Rules, 2014, the Company is required to maintain cost records and accordingly, such accounts and records has been maintained in respect of the applicable products for the year ended 30th September 2021.

iii. Pursuant to provisions of Section 204 of the Act read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and pursuant to requirement of LODR, the Secretarial Audit Report for FY 202021 issued by Secretarial Auditor i.e. Messrs. Parikh Parekh & Associates, Practicing Company Secretaries (Unique Code No. P1978MH01000) is provided as Annexure X to this Report. The Secretarial Audit Report for FY 2020-21 does not contain any qualification, reservation, adverse remark or disclaimer.

iv. There have been no instances of fraud reported by abovementioned Auditors under Section 143(12) of the Act and Rules framed thereunder either to the Company or to the Central Government during FY 2020-21.

26. Compliance with Secretarial Standards

During FY 2020-21, the Company has complied with all applicable Secretarial Standards issued by The Institute of Company Secretaries of India and adopted under the Act.

27. Material changes and commitment, if any, affecting financial position of the Company from financial year end and till the date of this report

There have been no material changes and commitments, if any, affecting the financial position of the Company which have occurred between the end of the Financial Year to which the Financial Statements relate and the date of this Report.

28. Significant and Material Orders passed by the Regulators or Courts

There are no significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and operations of the Company in future.

29. Acknowledgements

The Board of Directors takes this opportunity to thank Siemens AG - parent company, customers, members, suppliers, bankers, business partners / associates and Central and State Governments for their consistent support and co-operation to the Company.

on behalf of the Board of Directors
For Siemens Limited
Deepak S. Parekh
Chairman
DIN:00009078
Mumbai
Wednesday, 24th November 2021

   

Siemens Ltd Company Background

Sunil Mathur
Incorporation Year1957
Registered OfficeBirla Aurora Level 21,Plot No 1080 Dr Annie Besant R
Mumbai,Maharashtra-400018
Telephone91-22-39677000,Managing Director
Fax91-22-39677500
Company SecretaryKetan Thaker
AuditorB S R & Co LLP
Face Value2
Market Lot1
ListingBSE,MSEI ,NSE,
RegistrarTSR Consultants P Ltd
C-101 1st Floor,247 Park Vikhroli W,Lal Bahadur Marg,Mumbai - 400 083

Siemens Ltd Company Management

Director NameDirector DesignationYear
Sunil MathurManaging Director & CEO2022
Ketan ThakerCompany Sec. & Compli. Officer2022
Mehernosh B KapadiaIndependent Director2022
Daniel SpindlerExecutive Director & CFO2022
Tim HoltDirector2022
Matthias RebelliusDirector2022
Sindhu GangadharanIndependent Director2022
SHYAMAK RAMYAR TATAIndependent Director2022
Juergen WagnerAddtnl Non-Executive Director2022

Siemens Ltd Listing Information

Listing Information
BSE_500
BSE_CG
BSE_100
BSE_200
BSEDOLLEX
NIFTYJR
CNX500
CNX100
CNXINFRAST
BSEPOWER
CNX_MNC
CNX200
BSEGREENEX
BSECARBONE
NFT100EQWT
BSEALLCAP
BSELARGECA
INDUSTRIAL
SENSNEXT50
LMI250
BSEDSI
BSEMOI
BSE100LTMC
NFTYLM250
NFTY100ESG
NFTYALV30
NFTY200M30
NF500M5025

Siemens Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Sale of Products NA 0007528.4
Revenue from turnkey Projects NA 0004209.3
Sale of Services NA 0001566.5
Other Operating revenue NA 000360.7
Commission Income NA 00018.9
Real Estate NA 0000
Rent Recovery NA 0000
Chemical and Immunochemical No 0000
Accessories & Others No 0000
Industrial Turbines No 0000
Single/stage/multistage TurbinMW 0000
Engineering Products NA 0000
Converters - Static No 0000
Traction Converter for diesel No 0000
Data Acq.Logging Sys./Control No 0000
UPS Systems No 0000
Geared Motors No 0000
Gears No 0000
AC/DC Drive Sys-Variable SpeedNo 0000
Wiring Harness Assembly No 0000
Electric Motors & Generators No 0000
Convertors Traction for EMU No 0000
Transformers No 0000
Transformers-Power MVA0000
Auxillary Convertors for EMU No 0000
Electronic Measurand ConvertorNo 0000
High Frequency Power Supply No 0000
Inverters(Auxillary)- AR Loco No 0000
Rectifier Cubicles MW 0000
Audio Frequency Track CircuitsNo 0000
Digtl.E'tron.Switch. Sys.-LineLin0000
EPABX/EPBX/Inter/Tele.Sy(Line)No 0000
Transmission Equipments No 0000
Railway Signalling Equipments No 0000
Circuit breakers > 1000 Volts No 0000
Switchgear Items No 0000
Relays No 0000
Switchboards/Control Boards No 0000
Measuring/Control Equipment No 0000
Electro Medical Equipments No 0000
Medical Electronic Diag.Equip.No 0000
X-Ray Equipments No 0000
Controllers No 0000
Automotive -Manufactured goodsNA 0000
Automotive-Traded goods NA 0000
Process Control Equipments No 0000
Others NA 0000
Installations/Services NA 0000
Maintenance repairs and other NA 0000
Accessories No 0000
Miscellaneous Accessories No 0000
Electrical Control Cabinet No 0000
Integrated Building managementNA 0000
Protection System No 0000
Maintence repairs and other NA 0000
Auxiliary Inverter for AR LocoNo 0000
BMS Pansal No 0000
Bogie Frames and Parts No 0000
Building auotmated systems NA 0000
Compact Sub Station No 0000
Digital Axcel Drive No 0000
Fire Detector No 0000
Gas Insulated Switchgear No 0000
Medium Voltage Drive No 0000
Photovaltaic-S PV Products&sysNA 0000
Power Supplys No 0000
Reagents and Chemicals NA 0000
Ring Main Unit No 0000
Signet Keypads and AccessoriesNo 0000
Static Converter for railways No 0000
Excise Duty NA 0000

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