Siemens Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Smart Infrastructure: 43.2% • Digital Factory: 22.0% • Mobility: 18.1%
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Company is almost debt free
- Company has been maintaining a healthy dividend payout of 30.9%
- Working capital cycle has improved - days down from 292 to 156
CONS
- Operating cash flow has been negative in recent years
- Recent results are weak - TTM profit is down 37.5% versus prior year
- A large part of profit comes from other income (32.9% of PBT)
- Stock is trading at 7.7x its book value
- Rich enterprise valuation - EV/EBITDA of 32.0x
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ABB | 7393.30 | 52.44 | 156670.22 | 0.53 | 3623.00 | 930.02 | 35588.70 | 1110.31 | 30.18 | 12.56 |
| CGPOWER | 927.00 | 116.83 | 146044.22 | 0.14 | 308.28 | 15.52 | 3280.81 | 13.99 | 27.94 | 12.11 |
| POWERINDIA | 31580.00 | 122.36 | 140759.52 | 0.03 | 2941.50 | 2135.18 | 24936.90 | 1586.18 | 28.73 | 14.58 |
| SIEMENS | 3947.50 | 42.92 | 140578.57 | 0.46 | 214.31 | -49.38 | 4713.70 | 8.44 | 21.42 | 9.14 |
| GVT&D | 4663.20 | 639.39 | 119399.62 | 0.21 | 362.99 | 24.65 | 1836.14 | 38.04 | 75.51 | 25.10 |
| ENRIN | 3179.80 | 76.10 | 113239.20 | 0.13 | 440.90 | 67.83 | 2485.60 | 39.28 | 40.19 | 23.56 |
| WAAREEENER | 2567.50 | 19.35 | 73854.48 | 0.16 | 891.87 | 15.39 | 7931.79 | 79.22 | 37.92 | 18.15 |
| APARINDS | 17440.85 | 61.81 | 73028.91 | 0.34 | 4674.50 | 1677.98 | 65910.60 | 1191.31 | 31.84 | 11.50 |
| HAVELLS | 1121.10 | 43.08 | 70355.94 | 0.89 | 289.71 | -16.64 | 6518.19 | 19.48 | 25.74 | 7.15 |
| SUZLON | 45.60 | 19.93 | 62680.10 | 0.00 | 305.22 | -5.89 | 3829.09 | 22.83 | 35.79 | 15.55 |
| SCHNEIDER | 1197.05 | 155.76 | 28621.95 | 0.00 | 12.44 | -69.84 | 651.36 | 4.78 | 31.01 | 5.23 |
| TDPOWERSYS | 755.00 | 85.79 | 23590.49 | 0.14 | 862.93 | 72.33 | 6400.54 | 72.10 | 34.01 | 19.00 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 4,407 | 5,297 | 3,320 | 3,716 | 3,328 | 3,974 | 2,948 | 3,579 | 3,868 | 4,634 | 3,398 | 4,109 | 4,195 | |
| 3,968 | 4,750 | 2,940 | 3,169 | 2,925 | 3,521 | 2,649 | 3,215 | 3,440 | 4,113 | 3,123 | 3,752 | 3,866 | |
| Operating Profit | 439 | 547 | 380 | 547 | 403 | 453 | 299 | 364 | 428 | 521 | 275 | 357 | 330 |
| OPM % | 9.96% | 10.32% | 11.44% | 14.72% | 12.10% | 11.41% | 10.14% | 10.16% | 11.07% | 11.24% | 8.10% | 8.68% | 7.85% |
| 126 | 139 | 153 | 460 | 150 | 225 | 163 | 279 | 114 | 101 | 35 | 91 | 105 | |
| Interest | 3 | 4 | 2 | 16 | 4 | 18 | 3 | 2 | 2 | 3 | 5 | 11 | 6 |
| Depreciation | 64 | 54 | 36 | 38 | 45 | 37 | 40 | 40 | 43 | 44 | 43 | 45 | 48 |
| Profit before Tax | 564 | 712 | 495 | 953 | 504 | 624 | 419 | 601 | 497 | 574 | 262 | 391 | 434 |
| Tax % | 24.89% | 24.97% | 25.38% | 22.11% | 22.71% | 25.32% | 25.78% | 19.52% | 25.75% | 26.94% | 23.85% | 24.25% | 25.74% |
| Net Profit | 424 | 534 | 369 | 743 | 389 | 466 | 311 | 484 | 369 | 420 | 200 | 296 | 212 |
| 11.90 | 15.00 | 10.37 | 20.86 | 10.93 | 13.09 | 8.75 | 13.58 | 10.37 | 11.78 | 5.62 | 8.31 | 59.59 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Sep 2024 | Mar 2026 | TTM | |
|---|---|---|---|
| 13,403 | 22,025 | 16,336 | |
| 11,709 | 19,815 | 14,854 | |
| Operating Profit | 1,694 | 2,210 | 1,482 |
| OPM % | 12.64% | 10.03% | 9.07% |
| 1,015 | 839 | 332 | |
| Interest | 65 | 62 | 25 |
| Depreciation | 147 | 250 | 180 |
| Profit before Tax | 2,497 | 2,738 | 1,662 |
| Tax % | 23.58% | 24.24% | 25.50% |
| Net Profit | 1,909 | 2,074 | 1,238 |
| EPS | 53.61 | 58.26 | — |
| Dividend Payout % | 22.38% | 30.90% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- 12%
- 5 Years:
- 12%
- 3 Years:
- 0%
- 1 Year:
- 26%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- Last Year:
- 14%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Sep 2024 | Mar 2026 | |
|---|---|---|
| Equity Capital | 71 | 71 |
| 15,176 | 13,454 | |
| 212 | 267 | |
| Trade Payables | 4,442 | 3,660 |
| 12,934 | 11,638 | |
| Total Liabilities | 32,835 | 29,091 |
| 1,100 | 820 | |
| Capital Work in Progress | 99 | 239 |
| 2,220 | 2,220 | |
| 2,370 | 2,209 | |
| 3,997 | 3,435 | |
| Cash & Bank | 9,033 | 4,826 |
| 14,017 | 15,341 | |
| Total Assets | 32,835 | 29,091 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Sep 2024 | Mar 2026 | |
|---|---|---|
| 1,398 | -971 | |
| Cash from Investing | -391 | 4,045 |
| Cash from Financing | -497 | -3,274 |
| 510 | -199 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Sep 2024 | Mar 2026 | |
|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-09 - Order dated September 07, 2026 of the Hon''ble National Company Law Tribunal, Mumbai Bench - inter alia, dispensing the meeting of equity shareholders and unsecured creditors of Transferor Company and Transferee Company, is attached herewith.
2026-09-08 - Siemens Limited has informed the Exchange about change in Management
2026-09-07 - Siemens Limited has informed the Exchange regarding ' Intimation of receipt of request for reclassification from promoter category to public category in accordance with Regulation 31A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 '.
2026-08-20 - Siemens Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-08-13 - Siemens Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-12 - Siemens Limited has informed the Exchange about Resignation of Director/KMP/SMP
2026-08-11 - Siemens Limited has informed the Exchange about change in Management
2026-08-11 - Siemens Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 11, 2026
2026-08-11 - Siemens Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 11, 2026. Further, the company has informed the Exchange regarding voting results.
News
Recent coverage and analyst commentary for SIEMENS
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