Several applications capture data from sensors resulting in multi-sensor time series. Existing neural networks-based approaches for such multi-sensor/multivariate time series modeling assume fixed input-dimension/number of sensors. Such approaches can struggle in practical setting where different instances of same device/equipment come with different combinations of installed sensors. In the present disclosure, neural network models are trained from such multi-sensor time series having varying input dimensionality, owing to availability/installation of different sensors subset at each source of time series. Neural network (NN) architecture is provided for zero-shot transfer learning allowing robust inference for multivariate time series with previously unseen combination of available dimensions/sensors at test time. Such combinatorial generalization is achieved by conditioning layers of core NN-based time series model with “conditioning vector” carrying information of available sensors combination for each time series and is obtained by summarizing learned “sensor embedding vectors set” corresponding to available sensors in time series.