Siemens India

SIEMENS · NSE · Mega Cap

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Transmission & Grid·Listed·Directness 30/100

Siemens India

Diversified electrification and automation; T&D demerger to focus grid bets.

Transmission & Grid
Sell / Avoid
Last price
₹3614.00
52W: ₹2,826 – ₹3,930
-8.0% from 52W high
Mkt Cap
₹1.29 L Cr
P/E
78.7x
EV/EBITDA
64.2x
ROCE
15.8%
ROE
11.8%
Book Value
₹371.0
Promoter
75.0%
Real financial data sourced from Screener.in · annual + quarterly statements below

Scoring breakdown

SageOne-style fundamental · TQ-100 technical · solar overlays

B+
Fundamental (30%)
42
Valuation (20%)
11
Technical (20%)
69
Solar exposure (10%)
30
Policy beneficiary (7.5%)
65
Project pipeline (5%)
70
Governance safety (7.5%)
80

52-week position

Real snapshot from Screener

₹2,826Current: ₹3,614₹3,930
P/E
78.7x
P/B
9.7x
Div Yield
0.00%

Investment thesis

One-liner · bull · bear · monitorables

One-liner. Siemens India: renewable evacuation super-cycle + grid modernization order book provide multi-year visibility.

Bull case

Bull case for Siemens India: continued capacity ramp at attractive unit economics, supportive policy (PLI / ALMM / RPO / open access), benign module + commodity cycle, healthy receivable conversion, and re-rating from current valuation as execution beats consensus.

Bear case

Bear case for Siemens India: module/tariff price crash, working-capital blowout from DISCOM receivables, leverage spiking past 4x net-debt/EBITDA, ALMM/PLI delays, Chinese dumping, and de-rating to historical median multiples on growth disappointment.

Key monitorables
  • 01Quarterly capacity commissioned vs guidance
  • 02Receivable days from DISCOMs and large customers
  • 03Net debt / EBITDA trajectory
  • 04Order book to revenue cover

Solar exposure

Directness · policy linkage · BOM

Primary segmentTransmission & Grid
Directness30/100
ALMM eligible—
PLI beneficiary—
Imported BOM—

Valuation snapshot

Multiple methods · solar-specific multiples

MethodValueHist %ile
P/E (TTM)78.7x—
Forward P/E——
EV/EBITDA64.2x—
EV/Sales7.4x—
P/B9.7x—
FCF Yield2.7%—

Project pipeline

0 tracked projects

No tracked projects.

Financials

Source: Screener.in (consolidated) · ticker SIEMENS · last updated 2026-05-11

Open on Screener.in
Market Cap
₹1.29 L Cr
Price
₹3,614.00
Stock P/E
78.7x
Book Value
₹371.0
ROCE
15.8%
ROE
11.8%
Div Yield
0.00%
52W Range
₹2,826 – ₹3,930

Ratio analysis (derived from statements)

Growth · profitability · returns · leverage · cash flow · valuation

Growth
Sales 1Y-21.9%
Sales 3Y CAGR2.5%
Sales 5Y CAGR7.1%
PAT 1Y-22.5%
PAT 3Y CAGR10.9%
PAT 5Y CAGR17.9%
Profitability
OPM latest12.0%
PAT margin latest12.1%
PAT margin 3Y avg11.5%
ROE11.8%
ROCE15.8%
Asset turnover0.87x
Leverage & cash
D / E0.01x
Net Debt / EBITDA0.07x
Borrowings / Assets0.7%
CFO / EBITDA0.19x
CFO / PAT0.18x
FCF (TTM proxy)₹3.50K Cr
Valuation
P/E78.7x
EV/EBITDA64.2x
EV/Sales7.42x
P/B9.74x
FCF Yield2.72%
Div Yield0.00%

Annual P&L · 5 years

₹ Crore. Source: Screener.in consolidated.

MetricSep 2021Sep 2022Sep 2023Sep 2024Sep 2025
Sales13,19816,13819,55422,24017,364
Operating Profit1,4521,8602,4873,1042,007
OPM %11%12%13%14%12%
Net Profit1,0891,5431,9622,7182,106
EPS (₹)30.5743.3355.0776.2959.09

Quarterly results · last 4 quarters

₹ Crore.

MetricQ1 FY25Q2 FY25Q3 FY25Q4 FY25
Sales4,2594,3474,9003,831
OPM %11%12%12%11%
Net Profit582423485278

Balance sheet · 5 years

₹ Crore.

ItemSep 2021Sep 2022Sep 2023Sep 2024Sep 2025
Equity Capital7171717171
Reserves10,27611,53913,01615,28613,156
Borrowings4182175279145
Fixed Assets—————
Total Assets18,01520,10921,64625,29919,989

Cash flow · 5 years

₹ Crore.

ActivitySep 2021Sep 2022Sep 2023Sep 2024Sep 2025
Operating1,4229781,4001,670375
Investing-2,389-34-759-5023,120
Financing-502-392-450-523-3,186
Net Cash Flow-1,469552191645309

Shareholding pattern

Latest disclosed

Promoters
75.00%
FII
6.80%
DII
8.59%
Public
9.60%

Policy linkages

Schemes where this company is a confirmed or likely beneficiary

No direct policy linkages tracked.