Siemens Ltd. share price target

Performance takes a hit in Q1; Stable outlook Siemens India, a flagship company of Siemens AG (Germany), is an integrated technology provider and a leading powerhouse in electronics and electrical engineering. Siemens is strongly placed in Energy and Infrastructure including transmission & distribution, automation, urban...

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End markets see recovery: After the brief resumption of execution over 1HFY21, the second COVID wave once again disrupted the end markets. While capex in the Automobile sector remained subdued in FY21, end markets such as Pharmaceuticals, Food and Beverages, Metro, Railways, Steel and Cement, and Power T&D saw an uptick in ordering activity. In the Buildings segment, while ordering activity declined for the industry, it stood flat YoY for Siemens (SIEM) as it was able to tap certain pockets of growth. Central government and private capex robust: Central government and...

Siemens India, a flagship company of Siemens AG (Germany), is an integrated technology provider and a leading powerhouse in electronics and electrical engineering. Siemens is strongly placed in Energy and Infrastructure including transmission & distribution, automation, urban...

Well placed to gain from the overall energy market transformation from electrification to automation & digitisation Q1FY22 Results: Siemens reported decent Q3FY21* results amid disruptions...

Overall, Siemens is expected to further strengthen its leadership position through further penetration of automation and digitisation products & services across segments, particularly in digital industries, smart infrastructure, mobility segments, driving long term growth. We revise our target price to | 2390/share (earlier | 2295) and maintain BUY rating,...

Siemens India, a flagship company of Siemens AG (Germany), is an integrated technology provider and a leading powerhouse in electronics and electrical engineering. Siemens is strongly placed in Energy and Infrastructure including transmission & distribution, automation, urban...

EBIT margins across segments improved sequentially. Gas & power reported EBIT margin of 15.1%, which improved 250 bps QoQ. Smart infrastructure EBIT margin was at 8.6% (vs. 7.5% QoQ). Mobility segment EBIT margin improved 30 bps to 11.2% QoQ while digital industries EBIT margin declined 170 bps to 8.7% QoQ aided by better contribution from products and services side. Siemens continues to focus on profits over revenue by range of rationalisation and enrichment efforts for product mix to enhance market share. We believe EBITDA margins will further improve...

Siemens (SIEM)'s 2QFY21 revenue growth of ~28% YoY suggests gradual recovery as the two-year revenue CAGR came in flat. Gross margins contracted YoY, while EBITDA doubled aided by lower employee costs (11% YoY) and other expenses (-33% YoY). Adjusted for strong cuts in other expenses (7.3% of sales v/s 13.8% in 2QFY20), the margin trend seems to be under pressure and needs monitoring over the next 12 quarters. Other income declined 33% YoY to INR540m, despite a healthy cash balance,...