Siemens Ltd Share Price

History of Siemens Ltd

Siemens Limited was erstwhile incorporated as 'Siemens Engineering and Manufacturing Company of India Private Limited' on 2 March, 1957. In March 1957, the company entered into a collaboration agreement with two foreign companies, viz., Siemens & Halske AG and Siemens Schuckertwerke AG of West Germany. The name of Siemens & Halske AG was changed to Siemens AG in 1966 and at the same time, it took over manufacturing and business activities of Siemens-Schuckertwerke AG and Siemens-Reiniger-Werke AG. Subsequently, Company was converted into public company and name of the Company was thereafter changed from Siemens Engineering & Manufacturing Company of India Limited to Siemens India Limited on October 23, 1967 and thereafter to Siemens Limited on 31 March, 1987. Siemens offers products, ...integrated solutions for industrial applications for manufacturing industries, drives for process industries, intelligent infrastructure and buildings, efficient and clean power generation from fossil fuels and oil & gas applications, transmission and distribution of electrical energy for passenger and freight transportation, including rail vehicles, rail automation and rail electrification systems. It focuses on the areas of electrification, automation and digitization. It is one of the leading producers of technologies for combined cycle turbines for power generation; power transmission and distribution solutions; infrastructure solutions for Smart Cities and transportation; automation and software solutions for industry, and also supplier of healthcare equipments. It has nearly 21 factories located across India and a nation-wide sales and service network. In year 1970, Siemens-Reiniger-Werke AG and Siemens-Schuckertwerke AG were merged with Siemens AG. In year 1985, the company incorporated a subsidiary company, namely Siemens Communication Systems Pvt Ltd to undertake the manufacture of certain items of Telecommunication equipment for export purposes. In the year 1987, the company established a software centre at the head office in Mumbai to cater to the software package requirements of the control and automation systems and also to tap the export market. In the year 1990, the company undertook a project to set up a plant at Waluj in Aurangabad district of Maharashtra for the manufacture of switchgears and miniature circuit breakers. In the year 1991, the Medical engineering division launched a mobile C-arm image intensifier system, saving valuable foreign exchange. Also, the motors, drives and automation division launched the microprocessor based modular drives for AC and DC applications, microprocessor based digital uninterrupted power supply and micro PLC Simatic 90U. The name of Siemens Communication Systems Pvt Ltd was changed to Siemens Information Systems Ltd In the year 1993, the company introduced State-of-the-art advanced process control system at Nashik in order to meet stringent control requirements of chemical and petro-chemical industries. In the year 1994, the company signed an MoU with Asia Chip Card, Singapore and Semiconductor Corp Ltd to enter into the smart card business. In the year 1996, the company suffered by loss due to discontinuous of the operations of the Telecommunications division. In the year 1998, Siemens Public Communications, a 70:30 joint venture company between Siemens Germany and Siemens Ltd India were formed. Siemens Telecom Ltd, a joint venture between Siemens and Bharti Telecom formally launched their Euroset and Emerald series of phones at Bangalore. In the year 1999, the company set up Unisphere Solutions Inc to target leadership in the converged voice and data and Internet networking solutions. In the year 2000, they launched total hotel solutions' for the hospitality industry to cater to the growing needs of the corporate travelers. They launched their new line of information and communication solutions - Hicom 150 E Office and ESL8i - targeted at small and medium enterprises. In the year 2001, Siemens Information Systems Ltd, a wholly owned subsidiary company signed a partnership contract with Avraham Goldratt Institute of USA (AGI). The company introduced different models of mobile phones, which cover various features in each. In the year 2004, the company made a strategic alliance with Aethra Telecomunicazioni, Italy to offer a range of video and audio conferencing solutions in India. In the year 2006, the company made an alliance with Huawei-3Com to offer high performance networks to Indian enterprises. In the year 2007, the company acquired a 77% of stake in iMetrex Technologies Ltd, which is a leading provider of products and solutions in the areas of electronic security, safety and building automation systems. In September 2007, the company acquired the balance 26% stake in Siemens Industrial Turbomachinery Services Pvt. Ltd. (SITS) from Pimac Engineers Pvt. Ltd. In November 2007, the company bagged an order worth of Rs 870 million (Rs 87 crore) from McNally Bharat Engineers Pvt Ltd for supplying electricals for Rashtriya Ispat Nigam Ltd's new Sinter Plant at Vizag. In January 2008, the company and the Government of Maharashtra signed a Letter of Understanding to support company's expansion plans in the State. In April 2008, the company took over Morgan Construction Co., the rolling mill specialist based in Worcester, Massachusetts, USA. In May 2008, the company's Medical Solutions installed Asia's first high definition positron emission tomography (HD PET). This high-end equipment is installed at Piramal Diagnostics (formerly Wellspring), Mumbai. During the year 2009-10, as per the scheme of amalgamation, Flender Ltd, a wholly owned subsidiary of the company was amalgamated with the company with effect from October 1, 2009. In January 8, 2010, the company acquired the balance 13.85% stake Siemens Building Technologies Pvt Ltd, Chennai (SBTPL) comprising of 517,209 Equity Shares of Rs 10 each, from the promoters of SBTPL for a consideration of Rs 702.51 million. With this acquisition, SBTPL became a wholly owned subsidiary of the company. During the year 2010-11, the company created a new Sector 'Infrastructure & Cities' in line with Siemens global strategy and in order to achieve better portfolio synergy. The new sector will offer solutions to the cities for mobility, environmental protection and energy savings. This sector will be having five divisions (Mobility, Rail System, Low & Medium Voltage, Smart Grid and Building Technologies) and these divisions will work closer to their target markets and develop additional business opportunities in the growing market of cities. During the year, as per the scheme of amalgamation, Siemens Building Technologies Pvt Ltd and Vista (a wholly owned subsidiary of SBTPL) were amalgamated with the company with effect from October 1, 2010. Consequent to the amalgamation of SBTPL, the three subsidiaries of SBTPL i.e. iMetrex Technologies Ltd., Ireland (ITL), Europlex Technologies (UK) Ltd., UK (ET UK) and Europlex Technologies (Ireland) Ltd., Ireland (ET IL) became subsidiaries of the company. During the year, ITL, ET UK & ET IL were sold to Siemens Schweiz AG, Switzerland (a subsidiary of Siemens AG) for a total consideration of Euro 2.95 million During the year, as per the scheme of amalgamation Siemens Healthcare Diagnostics Ltd was amalgamated with the company with effect from March 14, 2011. In April 2011, Siemens Rolling Stock Pvt Ltd, a wholly owned subsidiary of the company was amalgamated with the company with effect from October 1, 2009. In September 2011, the company received an order from Siemens AG valued at Rs 294.50 crore for a transmission project of Power Grid of Corporation of Bangladesh. The completion period is 24 months. The company has approved the amalgamation of Siemens VAI Metals Technologies Pvt Ltd, Kolkata (SVAI), a 100% Siemens AG Company and Morgan Construction Company India Pvt Ltd, Mumbai (Morgan) a wholly owned subsidiary of SVAI with the company. The appointed date was fixed as October 1, 2011. In 2012, The Company won contract to modernize electricity distribution system for Maharashtra State Electricity Distribution Company. The company inked contract with PGCIL to construct 765 kV test lab in Bina, MP. The Company started operations in two greenfield factor in Goa. In 2013 Siemens launches SIMATIC S7-1500 with TIA Portal. Siemens installs Asia's first SOMATOM Definition Edge CT scanner at PSG Hospitals, Coimbatore. Siemens Limited wins contract to build first private sector-funded GIS substation in Bangladesh. Siemens wins order to modernize Korba Stage-II plant of NTPC. Siemens wins repeat order for Gurgaon Metro South Extension project. Siemens Corporate Citizenship Film Runner-up at Global Sustainability Awards. Siemens-powered Rapid Metro Rail Gurgaon begins operations. Siemens inaugurates State-of-the-Art Test Center for Motors. Siemens installs SOMATOM Perspective 128 slice CT scanner at SRL Diagnostics-Speedscans, Surat. Siemens introduces cutting-edge patient care technology with two new solutions - Biograph mCT Flow & Symbia Intevo. In 2014, the company launches best-fit controller for mid-sized DCS market.- AS 410 SMART. The company also launches optimized servo drive system for motion control applications. The company installs world's longest lab automation track at Thyrocare. The company Installs India's First Ultrasound System with Wireless Transducers at K.G. Hospital, Coimbatore. The company bags orders from Reliance Industries for supply of steam turbines. The company successfully delivers 1200kV CVT to National Test Station, Power Grid. The company wins international recognition for its motors manufactured in India. The company wins order worth Rs 317 crores from Bihar Grid Company Ltd. The company surpasses 100,000 milestone for energy-efficient industrial motors. In 2015, the company has bagged orders worth Rs 450 crore from Varanasi-based Diesel Locomotive Works. The company wins Rs. 55 crore order for High Voltage Circuit Breakers from Algeria. The company wins order worth Rs. 123 crore from Power Grid Company of Bangladesh. The Company has received an order worth Rs 67 crore for supply of high voltage gas insulated switchgear from Larsen and Toubro. The company has powers cities across three states Punjab, Uttarakhand and Haryana with Smart Grid solutions. The company wins order worth Rs. 81 crore from Diesel Locomotive Works. The company has received an order of Rs 79 crore from Pune based wind turbine supplier, Suzlon Energy Limited. IL&FS & GIFTCL sign MoU with the company to develop Smart Mobility Solutions for GIFT. The company has opened up a global skill centre for occupational safety in Mumbai in collaboration with TUV Rheinland India. On 13 October 2015, Siemens announced that, together with its parent company Siemens AG, Germany, it has won an order totalling approximately Rs 183 crore from NTPC. The component of Siemens Ltd. in the order is approximately Rs 97 crore. The scope of the works includes modernization as well as maintenance of Controls and Instrumentation at NTPC's Dadri Power Gas Station. On 7 December 2015, Siemens announced that it has won a crucial order approximately worth Rs 377 crore from Indian Railways' Diesel Locomotive Works (DLW), Varanasi. The scope of work for the project involves supply of 1890 Traction Motors for 4500 HP Diesel Electric Locomotives. The Traction Motors will be produced at Kalwa Factory of Siemens Limited. On 10 December 2015, Siemens Ltd. announced that it has won an order worth approximately Rs 102 crore to supply a 400 kV Gas Insulated Switchgear (GIS) Substation to West Bengal State Electricity Transmission Company Limited (WBSETCL). The scope of the order includes engineering, supply, installation and commissioning of the GIS Substation. On 22 January 2016, Siemens Ltd., announced that it has won a crucial order approximately worth Rs 112 crore from Rajasthan Rajya Vidyut Prasaran Nigam Limited, a State Power Transmission Utility owned by Government of Rajasthan and headquartered in Jaipur. The scope of work for the project involves engineering, supply, installation, testing and commissioning of 400 kv /220kV Air Insulated Substations. On 22 January 2016, Siemens Ltd., together with Siemens Malaysia, announced that it has won a crucial order approximately worth Rs 155 crore from Malaysia-based PSI International, one of the largest petrochemical companies of the world and a subsidiary of Petronas. The scope of work for the project involves supply of 420kV Gas Insulated Switchgear for PSI International's new petrochemical (RAPID) Greenfield project. The Board of Directors of Siemens at its meeting held on 4 March 2016 approved the sale and transfer of its Healthcare undertaking, as a going concern on a slump sale basis, for a sale consideration of Rs 3050 crore to Siemens Healthcare Private Limited, a subsidiary of Siemens AG. This transaction follows Siemens AG's global strategy of managing its Healthcare business under a separately-managed company. Over 85% of Siemens Ltd's Healthcare revenues are currently derived from products imported from parent Siemens AG. Significant management focus, including investments will be needed in finding appropriate products and solutions to meet the growing demands of the Indian market. As there are limited synergies between the Healthcare and other businesses of Siemens Ltd, this transaction will enable Siemens Ltd to increase its focus on, and capital allocation to Power Generation, Transmission and Distribution, Mobility, Industrial Automation and Smart Cities segments while enabling Siemens AG to further strengthen its focus on the Healthcare segment in India, by aligning it with its global strategy and management framework. On 6 April 2016, Siemens announced that it has started dispatch of the largest-ever Made in India' single-phase Generator Step-Up (GSU) Transformer of rating 315 MVA, 23.5kV/420kV for installation at NTPC's Kudgi Thermal Power Station in Bijapur, Karnataka. This transformer is an essential component of the Power Station, which once operational will boost the high-capacity power generation for the southern states of Karnataka, Andhra Pradesh, Tamil Nadu and Kerala. NTPC has ordered 10 units of these GSU transformers on Siemens. On 23 May 2016, Siemens announced that it has strengthened its partnership with Sri Lanka by signing a Memorandum of Understanding (MoU) with the Ministry of Megapolis and Western Development, Sri Lanka to offer expertise and best practices from its globally-proven, state-of-the-art, Sustainable, Smart City solutions portfolio. The prime objective of the Ministry of Megapolis and Western Development is to bring systematic changes and development processes into the urban community in Sri Lanka, which will ensure that the inhabitants of urban areas become a part of socio-economic development of the country while maintaining high levels in quality of life. This will pave the way for making Sri Lanka a commercial, naval and aviation hub of Asia. On 8 June 2016, Siemens Ltd. announced that, together with Siemens Bangladesh Ltd., it has won an order worth approximately Rs 113 crore from Power Grid Company of Bangladesh Limited (PGCB) to design, procure, supply, install, test and commission 230/132kV Gas Insulated Switchgear Substation along with 225/300 MVA, 132/33 KV and 50/75 MVA Transformers at Keraniganj within Dhaka. On 13 June 2016, Siemens Ltd. announced that it has won an order worth approximately Rs 78 crore from Power Grid Corporation of India Limited (PGCIL) to design, supply, install and commission 7 X 500MVA, 765/400/33kV, Phase Autotransformers at Bhuj. On 22 June 2016, Siemens Ltd. announced that it has won an order worth approximately Rs 83 crore from Indian Railways' Diesel Locomotive Works (DLW), Varanasi. The order is to design, supply and install 40 Alternating Current (AC) Traction Systems for dual-cab high horsepower diesel engine locomotives. On 27 June 2016, Siemens Ltd. announced that it has won an order worth approximately Rs 570 crore to supply Static Synchronous Compensator (STATCOM) solutions to Power Grid Corporation of India Ltd. (PGCIL). The scope of the order includes design, engineering, supply, civil, installation, testing and commissioning of STATCOMs at four substation locations ofPGCIL: Ranchi, Rourkela, Kishenganj and Jeypore across the states of Bihar, Jharkhand and Odisha. Cutting-edge technology from Siemens will result in the installation of one of the world's largest STATCOM projects at 400 kV level with a dynamic swing range of 2000MVAr and 1250MVAr mechanically switched components. On 3 August 2016, Siemens Ltd. announced that it has received a crucial order worth approximately Rs 217 crore for Power Grid Company of Bangladesh Limited (PGCB) project from Siemens AG, Germany to supply 400kV / 230 kV Switch Yard Equipments, Reactors, Power Transformers, Fire Fighting Systems, Air-conditioning Systems, Auxiliary Power System, Building Management Systems, Illumination Systems, AC Control and Protections, Engineering for Civil and Plant for 500 MW High Voltage Direct Current (HVDC) Station. The Board of Directors of Siemens at its meeting held on 5 December 2016 approved the sale and transfer of the company's business of engineering, design and development services for global wind power business (hereinafter referred to as SLWP Business') to a subsidiary (to be incorporated) of Siemens Wind HoldCo Sociedad Limitada (SA), Spain, which in turn is a subsidiary of Siemens AG, Germany (SAG), as going concern on a slump sale basis with effect from 1 January 2017 for a cash consideration of Rs 7.5 crore. The SLWP Business consists providing engineering services exclusively for the component design of Towers, Nacelle, Hub and Generator to the Siemens Wind Power A/S (Wind Power Division) in terms of an annual contract on a cost plus mark up basis. On 13 January 2017, Siemens Ltd. announced that, it has won an order worth approximately Rs 98 crore from Diesel Locomotive Works (DLW) to design, supply and install 48 Alternating Current (AC) Traction systems for Dual Cab High Horsepower Diesel Engine locomotive for Indian Railways. The AC Traction systems will be produced at Nashik Factory of Siemens Limited. The systems have been developed based on the state of art Insulated Gate Bipolar Transistors (IGBTs) technologies. The principle benefit of IGBTs over Gate Turnoffthyristors (GTOs) is that it reduces the current required and therefore the heat generated, giving smaller and lighter units. On 18 January 2017, Siemens Ltd announced the launch of its new range of energy efficient motor SIMOTICS 1LE7. The new SIMOTICS 1LE7 range of motors is the newest entrant in the existing range of motors offered by Siemens in India. These motors offer efficiency values higher than the IE3 standards - which is currently the highest efficiency class as recognized by Indian Standards. On 24 January 2017, Siemens Ltd. announced that it has won an order worth approximately Rs 366 crore from Oil and Natural Gas Corporation Limited (ONGC). The order includes supply of material for overhauling of 18 Power Turbines through Zero Hour Overhaul and Time Continued Overhaul. The Zero Hour Overhauling will be first of its kind in India and involves the overhaul of Power Turbines to zero hour status. Under the new concept of Zero Hour Overhaul, the Power Turbine will perform almost as new - capable of a safe run of another 100,000 hours before the next overhaul. This will help in reducing down-time and increase in productivity because of elimination of at-least one intermediate overhaul. On 10 February 2017, Siemens Ltd. announced that it has won an order worth approximately Rs 101 crore from Delhi Transco Ltd. (DTL). The order includes installing 220/66/33kV Gas Insulated Switchgear (GIS) substation at R.K. Puram, New Delhi. DTL is the State Transmission Utility of New Delhi. On 16 February 2017, Siemens announced that it has received an order worth approximately Rs 119 crore from Sterlite Power Grid Ventures Ltd. for design, engineering, procurement, manufacture, supply and commissioning of equipment for 765/400kV Air Insulated Switchgear (AIS) Substation at Khandwa (Madhya Pradesh) and 765kV AIS Bay Extension Equipment at Dhule (Maharashtra) for Khargone Transmission Ltd. On 20 February 2017, Siemens announced that the company along with Siemens Rail Automation Ltd. S.A.U Spain has jointly won an order worth Rs 287 crore to supply state-of-the-art signaling technology for the first two metro lines of the Nagpur Metro i.e. the North-South and the East-West Corridors. Siemens Limited's share of the contract is Rs 146 crore (all inclusive).The project comprises the deployment and installation of the Siemens communications-based train control (CBTC) solution Trainguard MT for 38.2 kilometers of double track with 36 stations and two depots, as well as onboard equipment for 23 three-cars trains. On 23 March 2017, Siemens announced that it has won an order worth approximately Rs 187.4 crore from Bangladesh Rural Electrification Board (BREB), Dhaka. The project includes construction of new 33/11 kV Air Insulated Switchgear substations in Dhaka, Chittagong and Sylhet. BREB is an electricity distribution provider under the Government of Bangladesh responsible for providing electricity to the rural parts of Bangladesh. The project is part of BREB's efforts to upgrade the country's rural electricity distribution system and will contribute to accomplishing the Government of Bangladesh's Vision of 'Electricity for All by 2021'. On 29 March 2017, Siemens announced that that a consortium of the company and Sumitomo Electric Industries Ltd. has been awarded an order from Power Grid Corporation of India, the central transmission utility of India, to supply a high-voltage direct current (HVDC) transmission system. The total size of the order won by the consortium is US $520 million, of which the share of Siemens is approximately Rs 1682 crore. The about 200-kilometer-long HVDC connection will be India's first direct current link using voltage sourced converter (VSC) technology. On 11 May 2017, Siemens informed the stock exchanges that an internal investigation by the company has revealed that as a result of a collusion between certain employees through the use of fake purchase orders and related documentation and the failure of some other employees to adequately discharge their responsibilities under the internal financial control procedures laid down by the company, a fraud spread over several years prior to 31 March 2011 has been perpetrated on the company, the estimated impact of which is Rs 19 crore. Appropriate disciplinary action has been taken against the concerned employees and such further action in the matter as may be considered necessary is under consideration of the company's Board of Directors. On 25 September 2017, Siemens announced that it has transferred and assigned its leasehold interest in the property located at Plot No. 130 Pandurang Budhkar Marg, Worli, Mumbai to Whispering Heights Real Estate Private Limited, a joint venture entity of Reco Solis Pte. Ltd. (an affiliate of GIC, Singapore) and the K. Raheja Corp Group, for a total consideration of Rs 610 crore. Earlier, on 30 December 2016, Siemens and Whispering Heights Real Estate Private Limited executed a Memorandum of Understanding for the transfer and assignment of Siemens' leasehold interest in the Property located at Plot No. 130, Pandurang Budhkar Marg, Worli, Mumbai for a total consideration of Rs 610 crore in favour of the proposed assignee. The Board of Directors of Siemens at its meeting held on 21 February 2018 agreed in-principle to sell its Mobility Division and Rail Traction Drives business (included in Process Industries and Drives Division which provides products and services to Mobility Division) as also its wholly owned subsidiary Siemens Rail Automation Private Limited, to the parent company Siemens AG, Germany (SAG) or its subsidiary. The Mobility Division accounts for 10.46% of the turnover and 2.82% of the capital employed of the company for the year ended 30 September 2017. The Board also agreed in-principle to sell its Mechanical Drives business (included in Process Industries and Drives Division) to SAG or its subsidiary. The Board of Directors of the Company at its Meeting held on 26 August 2020 approved the sale and transfer of the Company's Mechanical Drives (MD') Business, to Flender Drives Private Limited, a subsidiary of Flender GmbH, which in turn is a subsidiary of Siemens AG, as a going concern on a slump sale basis, with effect from 01 January, 2021. On 01 January 2021, the Company divested its Mechanical Drives (MD) business as a going concern on a slump sale basis to Flender Drives Private Limited for a final consideration of Rs. 3,759 million. On 01 March 2021, the Company acquired 99.22% equity share capital of C&S Electric Limited and became a subsidiary of the Company. In FY 2021, the Company commissioned India's first high-voltage direct current link featuring voltage-sourced converter (VSC) technology for Power Grid Corporation of India Limited (POWERGRID). It partnered with POWERGRID to commission Static Synchronous Compensator (STATCOM) solutions at POWERGRID's substations at Bikaner, Fatehgarh and Bhadla. It signed a Memorandum of Understanding (MoU) with Switch Mobility Automotive Limited to execute e-mobility projects. It announced deployment of over 2 lakh Smart Meters in North Delhi, together with Tata Power Delhi Distribution Limited. In mobility space, it provided automated train technology systems at improving capacity, punctuality, reliability, and provide enhanced safety for passengers of Bengaluru Metro. It strengthened manufacturing footprint with opening of a medium voltage switchgear factory in Goa. It executed a Power Purchase Agreement and entered into an Agreement on 22nd October 2021 for subscription of 26% of the paid-up equity share capital of Sunsole Renewables Private Limited. On 1st July 2022, the Company sold and transferred its Large Drives Applications business as a going concern on a slump sale basis to Siemens Large Drives India Private Limited for a cash consideration of Rs 440 Crores. During FY 2021-22, by virtue of subscription of 26% of the paid-up equity share capital of Sunsole Renewables Private Limited (SRPL), Mumbai, India, Sunsole Renewables was made an Associate of the Company with effect from 28th February 2022. During the year 2023, the Company launched a Digital Twin Solution for streamlining paint processes at MG Motor, an automotive OEM. It launched Siemens Xcelerator, an open digital business platform consisting of three main elements - portfolio, ecosystem and marketplace. In 2023, Company launched its first industry-ready 5G routers- Scalance MUM856-1 and MUM853-1. It further acquired the EV division of Mumbai-based Mass-Tech Controls Private Limited effective on 1st July, 2023. During financial year 2024, the Company achieved a significant milestone for its Siemens Xcelerator platform with the inclusion of over 100 India-relevant digital use and reference cases across multiple industries such as Food & Beverage, Data Centers, Commercial Buildings, Power Utilities and others. It also announced capacity expansions of its Gas Insulated Switchgear and Vacuum Interrupter factories in Goa as well as the Power Transformer factory in Kalwa and the state-of-theart Metro train manufacturing facility at Aurangabad.