Siemens Ltd. - Quarterly/Annual Result Disclosures and Notes dated 30 Sep 2017

1. The Company has adopted Indian Accounting Standards (Ind AS) from 1 October 2016 and accordingly the above financial results have been prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 Interim Financial Reporting prescribed under section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder. The date of transition to Ind AS is 1 October 2015. Accordingly, the
comparative period results for the quarter and year ended 30 September 2016 have been restated.

2. For reconciliation of Net profit after tax as previously reported under Indian GAAP (IGAAP), please refer the details provided by the Company to the Stock Exchange on 24th November, 2017 at 10:30 am, being outcome of Board Meeting.

3. For reconciliation of Equity as previously reported under Indian GAAP (IGAAP), please refer the details provided by the Company to the Stock Exchange on 24th November, 2017 at 10:30 am, being outcome of Board Meeting.

4. The Government of India introduced Goods and Service Tax ('GST') with effect from 1 July 2017 which partly replaced excise duty. Consequently, the revenue from operations for the quarter ended 30 September 2017 is net of GST. However, the revenue from operations for the quarter ended 30 June 2017 and the year ended 30 September 2016 is inclusive of excise duty.

5. Other income for the quarter ended 30 June 2017 includes income relating to earlier periods of erstwhile healthcare segment amounting to Rs. 238 million accrued during the quarter ended during 30 June 2017.

6. The Company had transferred the Healthcare undertaking forming the healthcare segment effective 1 July 2016. The profit of Rs. 30,278 million (tax impact Rs. 7,099 million) arising from such transfer has been disclosed

as an exceptional item for the quarter and year ended 30 September 2016.For the results of the discontinued Healthcare segment included in the above financial results please refer the details provided by the Company to Stock Exchange on 24th November, 2017 at 10:30 am, being outcome of Board Meeting.

7. The exceptional item for the year ended 30 September 2016 is net of Rs 355 million[tax impact Rs. (123)] million of impairment loss recognised on certain assets based on periodic assessment.

8. The Board of Directors at its meeting held on 5 December 2016 approved the sale and transfer of engineering, design and development services for wind power business forming part of Power and Gas segment of the

Company to an Indian subsidiary of Siemens Wind HoldCo Sociedad Limitada, Spain for a consideration of Rs. 75 million as slump sale with effect from commencement of business on 1 January 2017. Profit of Rs. 71.60

million has been recorded on the said transaction, which is disclosed as an exceptional item in the above financial results for the year ended 30 September 2017 . Corresponding tax expense on the said transaction amounts to Rs. 16 million. The results of the discontinued business for the relevant periods were not material.

9. During the year ended 30 September 2017, vide agreement dated 25 September 2017, the Company sold its property located at Worli, Mumbai for a consideration of Rs. 6,100 million. Profit on the traansaction amounting to Rs. 5,603 million is disclosed as an exceptional item in the above financial results for the quarter and year ended 30 September 2017. The corresponding tax impact on the said transaction is Rs. 1,373 million.
10. The Board of Directors have recommended a dividend of Rs.7 per share for the year ended 30 September 2017 amounting to Rs. 2493 million.

11. The figures for the quarters ended 30 September 2017 and 30 September 2016 are the balancing figures between the audited figures in respect of the full financial year and the unaudited nine months figures as reported by the Company.

12. The above financial results were reviewed and approved by the Audit Committee and Board of Directors at their meeting held on 23 November 2017 and 24 November 2017.