Siemens has received approval from the National Company Law Tribunal (NCLT) for the demerger of its operations, resulting in the formation of Siemens Energy India Ltd. According to a regulatory filing, the Mumbai Bench of the tribunal sanctioned the Scheme of Arrangement between Siemens Limited and Siemens Energy India Limited, along with their respective shareholders and creditors, under relevant provisions of the Companies Act, 2013.
As part of this restructuring, shareholders of Siemens will be allotted equity shares of Siemens Energy India in a 1:1 ratio. This means that for every fully paid-up equity share of Siemens with a face value of Rs 2, shareholders will receive one fully paid-up equity share of Siemens Energy India with the same face value.
The record date for determining eligible shareholders has been set for April 7, 2025, while the appointed date for the demerger is March 1, 2025. The process has been officially made effective as of March 25.
Following the restructuring, Guilherme Vieira De Mendonca, who previously led the company’s energy business, has been appointed as the Managing Director and Chief Executive Officer of Siemens Energy India. Additionally, Harish Shekar, formerly the finance head of the energy segment, will serve as the Executive Director and Chief Financial Officer.
Earlier in the fiscal third quarter, Siemens reported a profit of Rs 614.30 crore, marking a 22 percent increase from the Rs 505.40 crore recorded during the same period last year. However, consolidated revenue from operations declined by 3 percent year-over-year to Rs 3,587.20 crore.
Market activity reflected positive sentiment following the announcement, with Siemens shares trading 2.16 percent higher at Rs 5,229.50 in early market hours.
