Siemens Ltd

- Siemens Limited aims for profitable growth by expanding both top line (revenue) and bottom line (profits) (Page 23). - Margin improvement is targeted across core segments excluding Energy, with focus on exports and product mix enhancing profitability (Page 23). - Energy business underlying margins expected around 12.5%, supported by strong domestic and export demand (Page 17). - Digital Industries and Smart Infrastructure businesses are expected to see margin expansion through combined offerings and automation (Pages 17-18). - Mobility segment margins currently lower due to investments but expected to improve as production ramps (Page 18). - FY24 EBITDA margin at 13.7%, up 100 basis points from prior year; EBITDA growth supported by volume, better pricing, and cost control (Pages 6-7). - Order backlog growth, strong project execution, and government infrastructure spending provide solid base for future revenue and profit growth (Pages 3,7). - EPS growth supported by increased revenue, margin expansion, and cash generation improvements (Page 7).

- The transcript does not mention any current or planned fundraising through debt or equity. - There is no indication of new capital raising activities in the questions or answers. - Focus appears to be on improving profitability, expanding exports, and executing ongoing investments. - Investments in Siemens Energy, Mobility, and Smart Infrastructure businesses are on track, but no mention of funding sources. - The company highlights strong cash generation and operational cash flow improvements, which might reduce the immediate need for external fundraising. - The Energy business demerger is on track for completion in calendar year 2025; no note of fundraising related to this. In summary, based on the provided discussion, Siemens Limited has not indicated any plans for new debt or equity fundraising at this time.

- Siemens Limited has a planned capital expenditure of approximately INR 11 billion over the next 2-3 years. - Breakdown of the CapEx: - Siemens Energy: INR 4.6 billion - Smart Infrastructure: INR 4 billion - Mobility segment: INR 2 billion - Investments are ongoing and on track, announced in May the previous year and November 2024. - These investments target expansion and strengthening of manufacturing, including building an additional factory for transformers. - Strategic intent includes making India a manufacturing hub for both domestic and global business, especially in Mobility and Energy portfolios. - Focus on increasing export content and leveraging global synergies through local production. - Continued investment in new technologies and infrastructure to support long-term growth.

- Siemens Limited expects positive future growth supported by strong order backlog and market environment (Page 7, 12). - Smart Infrastructure business shows robust demand with 12% annual order growth and 19% revenue growth in fiscal 24; expected to continue growing with electrification focus (Page 8). - Mobility business growing with a 21% order increase and 38% revenue growth in fiscal 24 driven by metro projects, electrification, and exports (Page 8). - Energy business anticipates strong growth fueled by global energy transition and export expansion, with order intake at INR 88 billion in fiscal 24 (Pages 8, 17). - Digital Industries expected to recover post-destocking; currently muted but expected to pick up with private sector capex revival (Pages 8, 18). - Export content planned to increase, especially in Mobility and Energy, leveraging India as a manufacturing hub for global business (Pages 12, 21, 22). - Moderate near-term revenue growth in Energy constrained by customer delays; improvement expected in fiscal 25 as backlog executes (Page 22).

- Siemens Limited's total order backlog increased to INR 483 billion, supported by strong new orders and stable product/service business. - New orders totaled INR 235.6 billion with three strong quarters around and above INR 60 billion per quarter. - Excluding the locomotive order, the ex-Energy business order book grew approximately 10% (from 115 to 382 billion INR). - The locomotive order contributes INR 263 billion to the total order book; execution ongoing with the first locomotive delivery expected in late FY25. - Siemens maintains a Book to Bill ratio of about 1.13 (excluding locomotive order), indicating healthy order inflow relative to revenue. - Energy business has a significant backlog driving revenue, with some delays due to customer offtake and project schedules. - The company expects order inflows to remain positive, with increased export orders in Mobility and Energy segments contributing further.