Siemens gets nod to sell, transfer LDA business to Siemens Large Drives India
27th May 2022

Siemens has received approval to sell and transfer its Large Drives Applications (LDA) business to Siemens Large Drives India (a subsidiary of Siemens Large Drives GmbH, which in turn is a subsidiary of Siemens AG) with effect from July 1, 2022 and is subject to receipt of requisite statutory and regulatory approvals, as applicable. 

The LDA business within Siemens recorded a revenue from operations of Rs 443.70 crore for FY2021 and an operating profit of Rs 25.10 crore. As of FY 2021, the LDA business contributed 3.4% and 2.0%, respectively, to the total Revenue from Operations and Profit from Operations of Siemens.

Following a valuation done by an external independent valuer, the LDA business was approved for sale and transfer by the Board of Directors, for a consideration of Rs 440 crore.

Siemens is a technology powerhouse that has stood for engineering excellence, innovation, quality and reliability. The company focuses on the areas of electrification, automation and digitalization.