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Siemens announced that the National Company Law Tribunal (NCLT) approved the demerger of Siemens Energy India from the company.
As part of the restructuring, Siemens shareholders will receive one share of Siemens Energy India for each Siemens share they hold as of the record date, set for 7 April 2025.
The appointed date of the demerger is 1 March 2025, and the effective date of the demerger is 25 March 2025.
The company also informed that Guilherme Vieira De Mendonca, who was leading the firm's energy business, has been transferred to Siemens Energy. He has been appointed as the managing director and chief executive officer.
Harish Shekar, who was the finance head of the company’s energy business, will be the executive director and chief financial officer of the new demerged entity.
Siemens is a leading technology company focused on industry, infrastructure and mobility.
On a consolidated basis, net profit of Siemens rose 21.55% to Rs 614.30 crore while net sales declined 3.30% to Rs 3587.20 crore in Q1 December 2024 over Q1 December 2023.
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