Rs 10/Share Dividend: Engineering Company Reports 50% Growth In Net Profit

Large cap company operating in Engineering sector, Siemens Ltd on November 28 announced a surge of 49.8% year-on-year (YoY) in its net profit to Rs 571.6 crore for the 4th quarter ended September 30,2023. It is worth mentioning here that Siemens follow Oct-Sept financial year. The company declared its net profit at Rs 381.7 crore in the similar quarter last year, as per its BSE filing. Siemens' revenue from operations soared 24.7% to Rs 5807.7 crore as compared to Rs 4,657.1 crore in the corresponding quarter of last fiscal. Siemens also recommended a dividend of Rs 10/- per equity of Rs 2/- each (500%) for the FY ending Sept 30, 2023. Check details below:

Siemens Financial Results: The company announced its EBITDA, at operating level at Rs 700.2 crore, up 35.7% for the 2nd quarter of current fiscal as against Rs 515.9 crore in the corresponding quarter of last fiscal. Meanwhile, EBITDA margin declared at 12.1% for the quarter under consideration as against 11.1% in the corresponding period of last fiscal. It is worth noting that Dr Daniel Spindler resigned as the chief financial officer of the company, with effect from the close of business hours of February 29, 2024.

Siemens also gave nod to investment approximately Rs 416 crore in the capacity expansions of power transformers used in the power transmission business and of vacuum interrupters for medium voltage switchgear used in the power distribution sector.

Siemens Declares Dividend: As per the regulatory filing of the company issued on November 28, "recommended a dividend of Rs. 10/- per Equity Share of Rs. 2/- each (500%) for the Financial Year ended 30th September, 2023. The dividend, as recommended by the Board of Directors, if declared at the ensuing Annual General Meeting (AGM) of the Company, would be paid from Friday, 16th February, 2024."

Siemens Stock Performance & Return Over Years: Current market price of Siemens share BSE is Rs 3624.30 per share with intraday fall of 0.59%. The stock's 52-week high price is Rs 4066.10 per share and 52-week low price is Rs 2727.00 per share, respectively. The company's market capitalisation as of today is Rs 1,28,977.85 crore at the time of writing the story. Siemens shares surged 3% in last 2-weeks, fell 6% in last 3-months, soared 28% year-to-date, gained 30% in last 1-year, and offered return of 70% in last 2-years. In last 3-years, Siemens shares gained 139% and rose 294% in last 5-years.

Siemens About: Siemens has been a strong partner to India - right from the setting up of the Indo-European telegraph line in 1867. Siemens offers integrated solutions for India's sustainable future - efficient manufacturing, integrated automation, intelligent infrastructure, complete mobility and sustainable energy, according to its official website.

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