Siemens Ltd's shares have plummeted about 12% in the past two trading sessions. Investor sentiment took a beating after management offered a bleak outlook at the FY25 analyst meet on Friday.
In short, the capital goods company, which follows an October-to-September fiscal, is bracing for a challenging FY25. In the energy vertical, the transmission & distribution business is doing well, but Siemens is not bidding for line commutated converter (LCC)-based high-voltage direct current (HVDC) projects as it does not offer LCC technology. It will participate only in voltage source converter (VSC) technology-based HVDC orders as it believes VSC is a superior technology being adopted globally. With most Indian government projects planned as LCC, this will reduce Siemens's total addressable market in the category.
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