Large Drives Application business generated revenue of ₹4,43.7 crore during the financial year 2020-21
Large Drives Application business generated revenue of ₹4,43.7 crore during the financial year 2020-21
The Board of Directors of Siemens Ltd has approved the sale and transfer of its Large Drives Application (LDA) business to Siemens Large Drives India Pvt Ltd, the company said in a statement on Friday.
The Board of Directors of Siemens Limited has approved the sale and transfer of its Large Drives Application (LDA) business to Siemens Large Drives India Private Limited (a subsidiary of Siemens Large Drives GmbH, which is a subsidiary of Siemens AG). ) with effect from July 1, 2022,” it said.
The Large Drives Application business within Siemens generated revenue of ₹443.7 crore and operating profit of ₹25.1 crore during the financial year 2020-21. In FY’21, LDA business contributed revenue and profit at 3.4% and 2.0% respectively, the company said.