Siemens posts strong revenues but delays Aurangabad metro project

MUMBAI: While most companies are content with a standard four-quarter sprint, Siemens Limited has decided to run a marathon, stretching its current financial year into a one-time, eighteen-month epic. On 6th February 2026, the industrial titan pulled into the station to report its fifth-quarter results, revealing a landscape of high-voltage growth coupled with some strategic emergency braking.

The headline figures for the fifth quarter (ending 31st December 2025) showcase a powerhouse in motion. Revenue from continuing operations surged to Rs 33,985 million for the quarter, contributing to a massive Rs 179,167 million for the fifteen-month period so far. Despite this momentum, the company decided to indefinitely defer its Rs 186 crore capital expenditure for a metro car assembly plant in Aurangabad. Siemens cited “continued delays in issuance of metro tenders” as the reason for keeping this project in the shed, choosing instead to focus on “prudent capital allocation”.

Under the hood, the business is undergoing a significant mechanical overhaul. The Board has green-lit the amalgamation of its wholly owned subsidiary, Siemens Rail Automation Private Limited (Srapl), into the main company. This follows the high-profile demerger of its Energy business to Siemens Energy India Limited, a move that saw Rs 37,846 million in net assets, including a hefty Rs 25,478 million in cash, transferred off the books as of March 2025.

The company is also tidying up its motor business, with the sale of its Low Voltage Motors (LVM) unit to Innomotics India Private Limited nearing completion for a cool Rs 22,000 million.

Financially, the quarter was a mixed bag of industrial grit. Profit before tax for continuing operations stood at Rs 2,625 million, slightly dampened by an exceptional hit of Rs 628 million due to the implementation of India’s new Labour Codes. This one-off expense relates to updated wage definitions affecting gratuity and leave provisions.

The segment breakdown highlights where the sparks are flying:

Smart infrastructure: The star performer, generating Rs 17,238 million this quarter.
Digital industries: Plugged in with Rs 9,024 million in revenue.
Mobility: Chugging along with Rs 7,812 million.
As Siemens navigates its extended 18-month financial lap ending 31st March 2026, it remains a company of massive scale, boasting total assets of Rs 192,165 million. While the Aurangabad metro assembly might be parked for now, the engineering behemoth continues to signal that it has plenty of juice left in the tank for its remaining business tracks.