Siemens India (SIEMENS) Q4 12/13 earnings summary

Executive summary

• FY2012-13 orders rose 7% to ₹109,573 million, while revenue from operations fell 12% to ₹113,526 million and operating profit declined 75% to ₹1,705 million.

• PAT fell 43% to ₹1,940 million; year-end order backlog declined 5% to ₹129,264 million.

Financial highlights

• Revenue from operations was ₹113,526 million vs ₹129,199 million YoY; total revenue was ₹113,871 million vs ₹129,774 million.

• Profit before exceptional and prior-period items was ₹1,861 million vs ₹7,208 million; PBT was ₹2,186 million vs ₹5,209 million.

• PAT was ₹1,940 million vs ₹3,432 million; basic and diluted EPS was ₹5.45 vs ₹9.75.

• Operating cash flow was ₹1,018 million vs ₹433 million; cash and cash equivalents closed at ₹6,038 million vs ₹9,768 million.

Outlook and guidance

• Cost-position and factory-productivity measures were underway; growth depends on infrastructure policy implementation and a more investment-friendly environment.

• Cleared power and infrastructure projects involving ₹50,000 crore were viewed as positive, but further action was considered necessary to revive investment.

• Energy expected subdued investment and delayed projects; Healthcare prioritized market penetration, cost optimization and profitability; Industry expected continued demand moderation.

• Infrastructure & Cities saw opportunities from urbanization and capacity expansion, but financing costs, liquidity and slow decisions could delay projects.