Siemens Limited
NSE Symbol SIEMENS
SIEMENS Ltd has declared its Stand Alone results for the first quarter ended 31,Dec,2010.
The Results are analyzed below :
Net Sales amount to Rs.2525 Cr – up by 13% from q/e june 10; up by 14.15% from q/e March 2010; and up by a good 37.7% from the corresponding Qtr of Dec2009. On a proportionate Basis (Q1 x 4), it is also higher by 5.01% from last year(consolidated) and by 8.44% from last year Non-consolidated sales.
Total Expenditure is Rs.2202 Cr – up by 8.5% from Q/e June 10; up by 12.13% from Q/e March 10; and up by 44.43% from corresponding qtr ending Dec,2009. On proportionate basis (Q1 x 4), it is higher to last year’s consolidated Expdr by 2.51% and by 7.3% to the Non consolidated expdr. Increase in Raw material Cost has mainly contributed to Higher expenditure.
Profit from Operations – is Rs.336 cr – Up by 54.9% from Q/e June 10; up by 28.13% from Q/e March 10; but down by 1.72% from corresponding qtr of Dec 2009; On proportionate Basis, it is higher to last year consolidated OPT by 16.84% and by 12.84% to the Non consolidated OPT.
Profit before Tax is Rs.365 Cr – up by 55.32% from Q/e June 2010; up by 33.22% from Q/e March 2010; up by 2.06% from Q/e Dec,2009. It is also higher on a proportionate Basis (Q1 x 4) to last year’s consolidated PBT by 21.04% and by 16.03% to the non consolidated PBT.
Net Profit is Rs.244 Cr – up by 56.15% from Q/E June 2010; up by 34.63% from Q/E march 2010; up by 3.12% from Q/E Dec,2010; It is also up on a proportionate Basis by a good 28.89% from Last year’s (consolidated). Results; and by 17.89% from Non-consolidated NPT.
Basic EPS : is Rs.7.23 on a face Value of Rs.2; compared to Rs.4.63 in q/e June 2010; Rs.5.37 in Q/e March 2010 and Rs.7.01 in corresponding Qtr ending Dec,2009. The last year’s consolidated EPS was Rs.22.48, while stand alone EPS was Rs.24.53.
Current MP is Rs.837; Annualizing the Q1 EPS, current year EPS is likely to be Rs.29-30. Based on this, the current PE Ratio is 28.86. Since the Sales are increasing consistently QOQ, SIEMENS may fare much better in current year.
NOTE : Readers may also see the ANNOUNCEMENTS PORTION below regarding OPEN OFFER; and AMALGAMATIONS etc;
Results table :
| SIEMENS | 31-Dec-10 | 30-Jun-10 | 31-Mar-10 | 31-Dec-09 | ||
| Net Sales | 252541.63 | 223494.43 | 221242.01 | 183400.73 | 962007.49 | 931524.05 |
| Net Sales | 2525 | 13 | 14.15 | 37.7 | 5.01 | 8.44 |
| Other Oprtg Income | 1269.46 | 1145.97 | 1365.68 | 3258.57 | 12293.15 | 8483.15 |
| Incr./decr. in SIT /WIP | -8960.56 | -30287.19 | -6482.55 | -23180.9 | -52409.73 | -54229.08 |
| Raw Materials | 150976.56 | 121071.7 | 128461.36 | 113871.5 | 598340.48 | 591144.88 |
| Traded Goods | 39575.82 | 69782.03 | 37201.29 | 33777.54 | 157315.62 | 147825.72 |
| Employees Cost | 20401.56 | 17034.27 | 15304.04 | 12900.39 | 70523.42 | 63251.09 |
| Depreciation | 2655.89 | 2494.71 | 2373.94 | 2115.07 | 16870.9 | 10147.96 |
| Other Expenditure | 15544.22 | 22842.01 | 19513.43 | 12969.23 | 68568.35 | 62693.95 |
| Total Expenditure | 220193.49 | 202937.53 | 196371.51 | 152452.83 | 859209.04 | 820834.52 |
| Total Expenditure | 2202 | 8.5 | 12.13 | 44.43 | 2.51 | 7.3 |
| Profit from Operations | 33617.6 | 21702.87 | 26236.18 | 34206.47 | 115091.6 | 119172.68 |
| Profit from Operations | 336 | 54.9 | 28.13 | -1.72 | 16.84 | 12.84 |
| Other Income5 | - | - | - | - | 5571.7 | 6702.1 |
| Interest6 | -2896.3 | -1806.1 | -1171.74 | -1571.83 | - | - |
| Profit before tax | 36513.9 | 23508.97 | 27407.92 | 35778.3 | 120663.3 | 125874.78 |
| profit before Tax | 365 | 55.32 | 33.22 | 2.06 | 21.04 | 16.03 |
| Tax expense | 12134.82 | 7896.54 | 9299.09 | 12137.3 | 45006.87 | 43153.64 |
| Net Profit | 24379.08 | 15612.43 | 18108.83 | 23641 | 75656.43 | 82721.14 |
| Net Profit | 244 | 56.15 | 34.63 | 3.12 | 28.89 | 17.89 |
| Minority Interest | -120.71 | | ||||
| consol. NPT | 75777.14 | | ||||
| Face Value (In Rs | 2 | 2 | 2 | 2 | 2 | 2 |
| Paid Up Equity | 6743.2 | 6743.2 | 6743.2 | 6743.2 | 6743.2 | 6743.2 |
| Basic EPS | 7.23 | 4.63 | 5.37 | 7.01 | 22.48 | 24.53 |
| Diluted EPS | 7.23 | 4.63 | 5.37 | 7.01 | 22.48 | 24.53 |
| Public holding (%) | 44.82 | 44.82 | 44.82 | 44.82 | - | 44.82 |
ANNOUNCEMENTS
TO THE NSE
21-02-2011 Siemens Limited has informed the Exchange that the Board of Directors of the Company, at its meeting held on February 21, 2011, has decided to convene an Extra-ordinary General Meeting (EGM) of the Members of the Company on March 24, 2011, for seeking their consent for issuing and allotting shares to the members of Siemens Healthcare Diagnostics Ltd., Baroda (SHDL) upon amalgamation of SHDL with the Company, pursuant to the applicable provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997. -
01-02-2011 Siemens Limited has informed the Exchange that the Company has received intimation from its Promoter Siemens Aktiengesellschaft, Germany (SAG) stating that the Managing Board of SAG has decided to make a voluntary open offer in accordance with Regulation 11(2A) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and a Pubic Announcement (copy enclosed) to this effect has been made on January 31, 2011. Further, the said Offer is being made in connection with one of Siemens's key objectives, which is to expand Siemens' current operations and investments in India in connection with its business strategy. SAG currently holds 55.18% stake in the Company. The Board of Directors of the Company at its Meeting held on February 01, 2011 has noted the said Announcement.
31-01-2011 HSBC Securities & Capital Market (India) Private Limited has informed the Exchange regarding the Public announcement ("PA") being issued by HSBC Securities and Capital Markets (India) Private Limited ("HSCI" or the "Manager to the Offer") for and on behalf of Siemens Aktiengesellschaft (Registered office: Wittelsbacherplatz 2,D-80333 Munich, Germany) ("Acquirer" or "Siemens AG"), to the shareholders of Siemens Limited (Registered office: 130, Pandurang Budhkar Marg, Worli, Mumbai -400018) ("Target Company") pursuant to and in compliance with, among others, Regulation 11(2A) of the Securities and Exchange Board of India (substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto ("SEBl (SAST)Regulations" or the "Regulations"). Background to the offer: The Acquirer is making a voluntary offer (the "Offer" or "Open Offer") to the public shareholders of the Target Company for acquiring up to 66,829,060 fully paid-up equity shares of the Target Company constituting 19.82% of the Voting Share Capital of the Target Company (the "Offer Size") at a price of Rs.930 per equity share ("Offer Price") in order to consolidate its shareholding in the Target Company. : 1)This Offer is being made pursuant to Regulation 11(2A) of the SEBI (SAST) Regulations, at a Price of Rs.930 per equity share, payable in cash in accordance with the SEBI (SAST) Regulation, and subject to the terms and conditions. 2) Upon completion of the Offer, assuming full acceptance of the Offer, the Acquirer, will hold 252,870,150 equity shares in the Target Company representing 75.00% of the Voting Share Capital of the Target Company. 3) There are no "person acting in concert" with the Acquirer for the purpose of this Offer within the meaning of Regulation 2(1)(e) of SEBI(SAST) Regulations. A schedule of the activities pertaining to the Offer is given below: Specified Date: February 18, 2011; Date of opening of the Offer: March 25, 2011; Date of closing of the Offer: April 13, 2011.
28-01-2011 Siemens Limited has informed the Exchange regarding a press release dated January 28, 2011 titled "Siemens Ltd. announces Q1 2011 results : Sales increase by 35%".
28-01-2011 Siemens Limited has informed the Exchange that the Hon'ble High Court of Judicature at Bombay has on January 28, 2011 approved the 'Scheme of Amalgamation' (SOA) of Siemens Healthcare Diagnostics Ltd. (SHDL), with the Company. SHDL is yet to receive the sanction of the Hon'ble High Court of Gujarat on the said SOA. The said proposed amalgamation will be effective only after the certified copies of both the High Courts are filed with the respective Registrar of Companies.
28-01-2011 Siemens Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-DEC-2010 as follows: Net Sales of Rs. 252541.63 lacs for quarter ending on 31-DEC-2010 against Rs. 183400.73 lacs for the quarter ending on 31-DEC-2009. Net Profit / (Loss) of Rs. 24379.08 lacs for the quarter ending on 31-DEC-2010 against Rs. 23641 lacs for the quarter ending on 31-DEC-2009.
06-12-2010 Siemens Limited has informed the Exchange regarding a press release dated December 06, 2010 , titled " India's first Formula 1 Race Track to be equipped with Siemens Systems "
26-11-2010 Siemens Limited has informed the Exchange regarding a press release dated November 24, 2010 , titled " Siemens growth gains momentum: New Orders up 41%; Sales increased by 11%; Operating Profit up 26%."
24-11-2010 Siemens Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on November 24, 2010 has recommended a Dividend of Rs.5/- per Equity Share (250%) of Rs.2/- each for the Financial Year ended September 30, 2010.
24-11-2010 Siemens Limited has informed the Exchange regarding the consolidated Results for the year ended on 30-SEP-2010 as follows: Net Sales of Rs. 962007.49 lacs for year ending on 30-SEP-2010 against Rs. 928645.28 lacs for the year ending on 30-SEP-2009. Net Profit / (Loss) of Rs. 75777.14 lacs for the year ending on 30-SEP-2010 against Rs. 70460.38 lacs for the year ending on 30-SEP-2009.
24-11-2010 Siemens Limited has informed the Exchange regarding the standalone Results for the year ended on 30-SEP-2010 as follows: Net Sales of Rs. 931524.06 lacs for year ending on 30-SEP-2010 against Rs. 838877.45 lacs for the year ending on 30-SEP-2009. Net Profit / (Loss) of Rs. 82721.14 lacs for the year ending on 30-SEP-2010 against Rs. 104485.08 lacs for the year ending on 30-SEP-2009.
30-10-2010 Siemens Limited has informed the Exchange regarding a Press Release dated October 30, 2010, titled "Siemens inks its expansion plans in Goa".
15-10-2010 Siemens Limited has informed the Exchange that "The 'Scheme of Amalgamation' of our Wholly-owned subsidiaries i.e. "Siemens Building Technologies Pvt. Ltd." (SBTPL),Chennai and Vista Security Technics Pvt.Ltd. (Vista) (100% subsidiary of SBTPL), Chennai with the Company (Siemens Ltd.) has been sanctioned by the Honourable High Court of Judicature at Madras vide its order dated September 03, 2010 read with order dated October 05, 2010. As per the Scheme of Amalgamation, the "Appointed Date" is October 01, 2010. Further, a certified copy of the said Order has been filed today i.e. October 15, 2010 ("Effective Date") with the Registrar of Companies. Thus with effect from October 01, 2010,SBTPL and Vista stands amalgamated with the Company and the legal entity of SBTPL and Vista stands dissolved without winding up. Further, the entire business and undertaking of SBTPL and Vista gets transferred to and in the name of the Company.
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