The stock of Siemens India Ltd rose nearly 3 per cent on the announcement that the company has won an order for providing synchronous compensator (STATCOM) solutions worth Rs 570 crore from Power Grid Corporation of India. STATCOM helps improve systems power capacity and bring better voltage stability.

The plant that will be manufactured at Siemens Goa plant will ensure uninterrupted power supply to power consumers across the three states of Bihar, Jharkhand and Odisha. This is one of the world’s largest projects of this kind.

The company’s order book for the fiscal year ending September 2015 stood close to Rs 9,510 crore, a 20 per cent drop from 12,100 crore an year earlier.

Building technologies, mobility and factory automation division showed an increase in order book between FY14 and FY15, while energy management and power and gas divisions’ order book decreased over the same period. The healthcare division, which was sold back to Siemens Global, the parent company, also recorded a healthy order book increase.

Major projects won in the current fiscal year include the Rs 97-crore project for NTPC’s Dadri power gas station, Rs 377 crore for diesel locomotive works, Rs 102 crore for power transmission systems in West Bengal, Rs 112 crore for air insulated substations, Rs 78 crore for design to commissioning of single phase transformer from Power Grid Corporation.

The company’s revenues for the fiscal year ending September 2015 stood at Rs 10,563 crore. Revenues have been under pressure with an annual decline of 6 per cent between FY12 and FY15. But, a tight lease on expenses helped operating profit and net profit grow at 3.1 and 13.7 per cent, respectively. Net profit for the year ending FY15 stood at Rs 1174.4 crore.

The stock price reached a peak of ₹1539 in August 2015 before falling to ₹969 in January 2016. The stock last traded at Rs 1,290.

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