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Moneycontrol.com >> Message Board >> View Messages >> Siemens
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SIEMENS IS WORTH INVESTING. (19)   03-Jul-08 12:42Tracked by (0)  
Posted by:   nachu on ( 03-Jul-08 12:42 )
Price : BSE: Rs 382.20 ( -5.47 % ), NSE: Rs. 381.00 ( -5.74 % )
03-07-08.

Dear Souravkundu

You have only partially quoted my comment “'Siemens, to be sure, has taken a knock recently. In qtrs. ending Sep. 07, (Q2), Dec 07 (Q3).” My full sentence reads “Siemens, to be sure, has taken a knock recently. In qtrs. ending Sep. 07, (Q2), Dec 07 (Q3), the operating profit margin which was 20.42% and 14.67%, and net profit margin which was 14.10% and 10.29%, have drastically come down in Mar 08 (Q4). to 0.78% and 0.08% respectively.” This was the comment in my first post and repeated when I replied to yours. The purpose was to convey the impression that in the qtr. ending March 08, Siemens has done badly. I have not referred to March 08, as (H1) at all. as the company’s half year. I have myself mentioned clearly “I take note of quarterly, and not half yearly results”. I take your point that Jan - Mar qtr., in the normal Indian context, is Q4 qtr, but in the case of Siemens, it is Q2, since their accounting year is Oct-Sep. But I have not referred to the quarters just calling them as Q!, Q2, Q3 and Q4, but have atleast equally importantly, mentioned the month in which each of the quarters ends. So you should have no difficulty in correctly identifying the month to which the quarter relates to. Anyway, thanks for pointing out this slip in numericals attached to the quarters, which I own up, unhesitatingly.

I repeat again, that my above sentence was to focus on the climb down in the Siemens performance when operating profit margin came down to 0.78% and net profit margin came down even worse, to 0.08%, compared to good performance in the earlier quarters.

I repeat that merely bacuse a company whose track record has been otherwise good, has fared unsatisfactorily in the last quarter ending March 08, it cannot be consigned to the dust bin, and that with mid course corrections which I am sure are currently in place, the company’s performance will again become healthy and therefore will be rewarding for investors. So, I stand by my advise.......buy and hold.

I hope you will not take me amiss if I choose to ignore your posts unless they contain some new comments or points.

Regards and best wishes,
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