Siemens reported solid results in the July-September quarter (fourth quarter, or Q4) of 2022-23 (FY23), with the top line growing 25 per cent year-on-year (Y-o-Y) to Rs 5,808 crore. The operating profit margin stood at 12.1 per cent, led by lower employee costs and other operating expenses. The company follows the October-September financial year.
Global handset major Siemens India Ltd is planning to invest over $500 million in India in the next three to four years for setting up new factories and expanding its existing capacities in the country.
From X-ray machines to circuit breakers and airport conveyor belts, from signaling systems to switch gears and foetal heart beat monitors - a portfolio of low cost, locally made, no-frills products is helping Siemens reinvent itself.
Audit is being questioned by investors. Subhiksha is an example. In the case of Siemens India, institutional investors questioned the valuation in a deal involving the sale of Siemens Information Systems to German parent Siemens AG. This shows the low level of investor confidence in the corporate governance system. The audit committee mechanisms need strengthening.
Siemens Information Systems, a business unit of Siemens India, part of German technology giant Siemens is understood to have laid off around 500 people over the last five days.
Giving another boost to the great Indian growth story, seven domestic firms have been named as the emerging global challengers to the world's leading blue chips by the global equity research major Standard and Poor's.
Even if some of those projects remain on paper, the potential for manufacturers and engineering firms is too big to ignore
At present, less than one per cent of manufacturing GDP comes from automation in India.
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Globally, the company intends to cut expenses by $7.8 billion by 2014.
Compared to their Indian peers, MNCs have higher return ratios.
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