The analyst believes that Siemens sale of low-voltage and geared motors business is in-line with the company's long-term strategy 1) to be a leading tech-oriented company, 2) consolidate its business in high-growth areas to achieve synergies and 3) move up in value chain by providing solutions for electrification, digitalization and automation. On Monday, Amit Anwani - Research Analyst, Prabhudas Lilladher said, "We attended Siemens (SIEM)’s analyst meet where management highlighted, board approval to carve out Low Voltage (LV) and geared motors business (part of Digital Industries segment 0.12KW to 1.25MW capacity motors) for cash consideration of Rs22bn, translating to 2.1x revenue and 15.5x EBITDA (SY22), based on third party valuation and 100% distribution of proceeds as special dividend (post adjusting capital gain tax-likely to be ~23%)."
This transaction is to the tune of ₹38 crore. Read here: Why were Adani stocks soaring in trade today - explainedįurther, Siemens announced the acquisition of the EV division of Mumbai-based Mass-Tech Controls to address the fast-growing demand for electric vehicle charging infrastructure in India, expand local market presence, and enable the creation of an export hub. The intention of this sale is to carve out Innomotic's business into a legally separate company. Siemens Large Drives is a wholly-owned subsidiary of Siemens AG. Last week, on May 19th, Siemens received board of directors approval for the sale of low voltage motors and geared motors businesses including related customer service business to Siemens Large Drives India for ₹2,200 crore with effect from October 1, 2023. The stock shed nearly 10.65% with an intraday low of ₹3314.05 apiece during trading hours.
On BSE, Siemens' stock price closed at ₹3399.20 apiece, tumbling by ₹309.70 or 8.35%.
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