Siemens Energy India Ltd
Siemens Energy India Ltd
Capital GoodsKey Fundamentals
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BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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15 extracted metrics + investor summaries across FY23–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
1- Company is almost debt free.
Weaknesses
1- Stock is trading at 27.0 times its book value
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 1d agoSiemens Energy India, demerged from Siemens Ltd in 2024, trades at a P/E of 88.4x and P/B of 24.1x with a market cap of ~₹1.28 lakh crore. The company is virtually debt-free with 75% promoter holding, and reported Q3 FY26 revenue growth of 39.3% YoY to ₹2,486 crore and PAT growth of 67.8% YoY to ₹441 crore, supported by an order backlog of ₹19,331 crore.
- Revenue grew 39.3% YoY to ₹2,486 crore in Q3 FY26 (June 2026 quarter), demonstrating strong execution momentum
- PAT surged 67.8% YoY to ₹441 crore in Q3 FY26, indicating substantial profit acceleration
- Operating margins expanded 430 basis points YoY to 21.9% in Q3 FY26, driven by operating leverage and higher export contributions
- Order backlog stands at ₹19,331 crore, up 16.4% YoY, providing multi-year revenue visibility with a book-to-bill ratio of 2.1x
- Company is virtually debt-free with zero debt on the balance sheet and a debt-to-equity ratio of 0%
- Promoter holding is steady at 75% (Siemens Energy AG group), signaling strong parent commitment to the Indian subsidiary
- TTM revenue reached approximately ₹8,735 crore with FY25 revenue growing 9.6% YoY to ₹7,827 crore, showing consistent topline expansion
- India's power transmission and energy infrastructure capex cycle provides a structural demand tailwind for the company's core segments
- Stock trades at 88.4x trailing P/E, a substantial premium even relative to capital goods sector peers, leaving little room for execution misses
- Price-to-book ratio of 24.1x is extremely elevated, meaning investors are paying ₹24 for every ₹1 of book value
- Dividend yield is negligible at 0.12%, offering virtually no income return to shareholders
- ROE of ~25% (last year 50% per available data) is healthy but may not justify the current valuation multiple of 24x book
- Stock price CAGR of just 1% over one year suggests the market may have already priced in near-term growth expectations
- Power generation order inflows declined 10% YoY in the most recent quarter to ₹1,000 crore, indicating segment-level volatility
- As a recently demerged entity (listed 2024), limited standalone financial history makes long-term trend analysis difficult with incomplete 3-year/5-year growth data
- FII holding has declined from 7.72% to 4.79% over recent quarters, suggesting some institutional profit-booking at elevated valuations
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 1d ago- Q3FY26 profit surges 67.8% YoY Aug 6
Siemens Energy India reported Q3FY26 net profit of ₹441 crore, up 67.8% YoY, with revenue rising 39.3% to ₹2,486 crore driven by robust order execution and higher export contributions.
- EBITDA margin expands to 23.56% Aug 6
EBITDA rose to ₹5.86 billion from ₹3.4 billion YoY, with margin expanding from 19.07% to 23.56%, reflecting improved operational efficiency.
- CFO raises stake to 16% Aug 5
Siemens Energy CFO increased personal stake in Siemens Energy India to 16%, signaling strong insider confidence in the company's prospects.
- Parent targets top-end margins Aug 5
Siemens Energy's Co-CEO announced ambition to push profit margins to the top of expected range, with gas turbine division identified as central contributor to profitability.
- Strong Q1 standalone numbers reported Aug 6
Siemens Energy India reported Q1 standalone net profit of ₹4.41 billion, up from ₹2.6 billion YoY, with revenue growing to ₹24.85 billion from ₹17.85 billion in the prior year period.
TL;DR: Siemens Energy India is delivering exceptional growth across both revenue and profitability, with Q3FY26 net profit up 67.8% and EBITDA margins expanding over 450 bps YoY. Insider buying and parent-level margin ambitions reinforce bullish sentiment. No material headwinds are visible in recent news flow. The trend is clearly improving, supported by strong order execution, export momentum, and operational leverage.
Quarterly Results
| Mar 2024 | Jun 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 0 | 1,484 | 1,517 | 1,880 | 1,785 | 2,646 | 1,911 | 2,394 | 2,486 |
| Expenses | 0 | 1,271 | 1,182 | 1,521 | 1,444 | 2,166 | 1,450 | 1,896 | 1,900 |
| Operating Profit | 0 | 213 | 335 | 358 | 340 | 479 | 461 | 498 | 586 |
| OPM % | — | 14% | 22% | 19% | 19% | 18% | 24% | 21% | 24% |
| Other Income | 0 | 0 | 2 | 14 | 52 | 37 | -3 | 46 | 57 |
| Interest | 0 | 1 | 4 | 3 | 14 | 6 | 7 | 7 | 9 |
| Depreciation | 0 | 16 | 21 | 24 | 27 | 31 | 32 | 35 | 40 |
| PBT | 0 | 196 | 312 | 345 | 352 | 478 | 418 | 502 | 593 |
| Tax % | — | 26% | 26% | 29% | 25% | 25% | 25% | 25% | 26% |
| Net Profit | 0 | 146 | 232 | 246 | 263 | 360 | 313 | 375 | 441 |
| EPS in Rs | — | — | — | — | 7.38 | 10.1 | 8.79 | 10.52 | 12.38 |
Profit & Loss
| Sep 2024 8m | Feb 2025 5m | Sep 2025 | TTM | |
|---|---|---|---|---|
| Sales | 0 | 2,653 | 7,827 | 9,436 |
| Expenses | 0 | 2,064 | 6,295 | 7,412 |
| Operating Profit | 0 | 589 | 1,532 | 2,024 |
| OPM % | — | 22% | 20% | 21% |
| Other Income | 0 | 3 | 98 | 137 |
| Interest | 0 | 10 | 39 | 30 |
| Depreciation | 0 | 35 | 103 | 139 |
| PBT | 0 | 547 | 1,488 | 1,992 |
| Tax % | 0% | 25% | 26% | — |
| Net Profit | 0 | 409 | 1,100 | 1,488 |
| EPS in Rs | — | — | 30.89 | 41.79 |
| Div. Payout % | 0% | 0% | 13% | — |
Balance Sheet
| Sep 2024 | Feb 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|
| Equity Capital | 0.01 | 0 | 71 | 71 |
| Reserves | 0 | 3,782 | 4,310 | 4,741 |
| Borrowings | 0 | 127 | 148 | 216 |
| Other Liabilities | 0 | 3,520 | 5,016 | 5,190 |
| Total Liabilities | 0 | 7,428 | 9,545 | 10,218 |
| Fixed Assets | 0 | 435 | 536 | 610 |
| CWIP | 0 | 93 | 76 | 116 |
| Investments | 0 | 0 | 0 | 0 |
| Other Assets | 0 | 6,901 | 8,933 | 9,492 |
| Total Assets | 0 | 7,428 | 9,545 | 10,218 |
Cash Flow
| Sep 2024 | Feb 2025 | Sep 2025 | |
|---|---|---|---|
| Operating | 0 | 103 | 3,670 |
| Investing | 0 | -80 | -3,483 |
| Financing | 0 | -23 | -55 |
| Net Cash Flow | 0 | 0 | 132 |
| Free Cash Flow | 0 | 23 | 3,454 |
| CFO/OP | 0 | 17 | 254 |
Ratios
| Sep 2024 | Feb 2025 | Sep 2025 | |
|---|---|---|---|
| Debtor Days | — | 266 | 90 |
| Cash Conversion Cycle | — | 266 | 90 |
| Working Capital Days | — | 478 | 35 |
| ROCE % | — | — | 68% |
Documents
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Company Information
Incorporated in 2024, Siemens Energy India Ltd is a leading energy technology Provider, delivering integrated solutions across power generation and transmission systems[1]Siemens Energy India Limited (SEIL) works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, it covers almost the entire energy value chain - from power and heat generation and transmission to storage.[2]