Siemens Limited Appoints Mehernosh B. Kapadia as Additional Director and Independent Director; Announces Unaudited Standalone Earnings Results for the Second Quarter and Six Months Ended March 31, 2018
May 02, 2018 at 07:42 am EDT
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Siemens Limited announced that at the board meeting held on May 02, 2018, the shareholders appointed Mr. Mehernosh B. Kapadia as an Additional Director and Independent Director of the company for a term of five years with effect from May 02, 2018. Kapadia has been with GIaxoSmithKline Pharmaceuticals Limited (GSK) where he has worked for over 27 years. He retired as the Senior Executive Director and Chief Financial Officer of GSK with effect from 1 December 2014.
The company announced unaudited standalone earnings results for the second quarter and six months ended March 31, 2018. For the quarter, the company reported gross sales/income from operations of INR 31,631 million against INR 29,828 million a year ago. Profit before exceptional items and tax was INR 3,366 million against INR 2,791 million a year ago. Profit before tax was INR 3,366 million against INR 2,863 million a year ago. Net profit after tax was INR 2,197 million against INR 1,862 million a year ago. Basic and diluted earnings per share after extraordinary items were INR 6.17 against INR 5.23 a year ago.
For the six months, the company reported gross sales/income from operations of INR 55,263 million against INR 53,205 million a year ago. Profit before exceptional items and tax was INR 6,308 million against INR 5,248 million a year ago. Profit before tax was INR 6,308 million against INR 5,320 million a year ago. Net profit after tax was INR 4,102 million against INR 3,470 million a year ago. Basic and diluted earnings per share after extraordinary items were INR 11.52 against INR 9.74 a year ago.
Siemens Limited is one of the Indian's leading manufacturers of electronic and electro-technical equipment. Net sales (not including sold divisions) break down by sector of activity as follows:
- energy (36.1%): integrated products and services for oil and gas production, electricity generation and transmission, etc.;
- electricity transmission and distribution (30.7%): power transmission and distribution systems, electrical installations, miniature circuit breakers, distribution boards, residual current circuit breakers, etc.;
- industry automation (23,8%): industrial automation systems, drive systems, etc. The group also provides engineering, procurement, installation and commissioning of turnkey projects products in the industrial and infrastructure sectors;
- mobility (8.7%): rail vehicles, rail automation systems, rail electrification systems, road traffic management solutions, etc.;
- other (0.7%).
India accounts for 82.2% of net sales.
Siemens Limited Appoints Mehernosh B. Kapadia as Additional Director and Independent Director; Announces Unaudited Standalone Earnings Results for the Second Quarter and Six Months Ended March 31, 2018