Siemens, in a release discussing its recent financial performance, said that it won new orders of Rs.31,151 crore in Q2 of FY23.
The new orders booked included a major order worth Rs.25,455 crore for the 9,000HP locomotive project of Indian Railways. Consequently, new orders in Q2 of FY23 grew by 8.1 percent, on a comparable basis, the release said.
Commenting on the results, Sunil Mathur, Managing Director & Chief Executive Officer, Siemens Ltd, said, “We continue to see substantial tendering by the Indian Railways and continued capex expansion in infrastructure led by Central Government spending. Private sector capex is mainly in the steel, cement, data centers, intralogistics, and e-vehicles market segments. Customers are also keen to adopt energy efficiency and digitalization measures to improve their productivity, flexibility, and quality while demonstrating their commitment to sustainability.”
Mega IR order
The Rs.25,455-crore order discussed above was announced by Siemens in January 2023. The order, bagged by Siemens Mobility from Indian Railways (IR), entails 1,200 locomotive of 9,000HP each. This is the single-largest order in the history of Siemens Mobility, and the single-largest order in the history of Siemens Ltd. (The Indian arm of Siemens AG bears the legal name “Siemens Ltd”. “Siemens Mobility” refers to the worldwide division of Siemens AG that provides solutions to rail, road and intermodal transport sectors.
Also read: Siemens, In Consortium, Wins Orders For Ahmedabad And Surat Metro Rail
Siemens Mobility will design, manufacture, commission, and test the locomotives. Deliveries are planned over an eleven-year period, and the contract includes 35 years of full-service maintenance. The locomotives will be assembled in the Indian Railways factory in Dahod, in the state of Gujarat, India. Maintenance will be performed in four Indian Railways depots located in Vishakhapatnam, Raipur, Kharagpur, and Pune. Locomotive assembly and maintenance will be implemented together with the staff of Indian Railways.
Accounting year
The accounting year of Siemens Ltd runs from October 1 to September 30. Accordingly, Siemens’ ongoing fiscal year, FY23, spans from October 1, 2022, to September 30, 2023. Q2 of FY23 referred to in this story runs covers the period from January 1, 2023, to March 31, 2023.
Editor’s Note: T&D India covers the electrification of railways and metro rail. However, rolling stock (locomotive and metro coaches) does not fall in T&D India’s purview. This explains why the locomotive order mentioned in this story was not covered as an independent news item then. The order has been discussed here only in the context of the physical performance of Siemens Ltd during Q2 of FY23. Readers may also note that T&D India does not cover the financial performance of companies but definitely tries to write about “physical” performance that includes new order inflow, capital expenditure, etc.
Featured photograph sourced from Siemens
