Siemens plunges nearly 8% post Q4 earnings.
Published On: Thursday, November 25, 2021 | By: Team KnowMyStock
Shares of Siemens dipped 8 percent to Rs 2,099 on the BSE in Thursday’s intra-day trade on profit booking after the company reported 250 basis points (bps) decline in earnings before interest, taxes, depreciation, and amortization (EBITDA) margin of 10.4 percent in September quarter (Q4FY21) as against 12.9 percent in Q4FY20 impacted by higher other expenses, gross margins. Siemens' Q4 (July-September) net profit was down 7.2% at Rs 330.9 crore versus Rs 356.7 crore in the same period last fiscal. The company’s disappointing performance in the quarter gone by was primarily on account of a rise in costs of raw materials and logistics, a BSE filing on Wednesday showed. Its revenue was up 21.1% at Rs 4,296.1 crore versus Rs 3,546.8 crore YoY. The company has recommended a dividend of Rs 8 per equity share of Rs 2 each (400 percent) for the Financial Year ended September 30, 2021.
For the quarter under review Siemens reported an increase of 4.9 percent in new orders from continuing operations at Rs 3,378 crore as against Rs 3,220 crore in the same period a year ago, PTI reported, adding that the company’s order backlog was at an all-time high of Rs 13,520 crore. Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited, said “We are delighted with the overall performance of the Company. Our businesses have performed exceedingly well under very challenging conditions. We are now at pre COVID-19 volume levels with a record Order Backlog. As Government investment in infrastructure continues and capacity utilization levels increase, we believe tendering for private sector Capex will pick up in the months ahead. This will provide further impetus to our continued strategy of profitable growth.”
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