Given the limited near-term catalysts in HVDC and railways, we are revising down our FY25E/26E/27E EPS estimates by 9%, 15%, and 11%, factoring in slower HVDC order inflows and operating margins of 14%. Consequently, we downgrade Siemens to 'Hold', with a target price of ₹7,000, valuing the stock at 65x FY27E EPS of ₹106.
A key trigger—chunky orders—now delayed. Energy segment: It largely constitutes HVDC and HV transformers and switchgears, and other products. Currently, there are only one to two projects (Pang-Kaithal in Leh & Khavda-South Olepad), which could use voltage source converter technology.
Denne historien er fra December 24, 2024-utgaven av Financial Express Delhi.
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Denne historien er fra December 24, 2024-utgaven av Financial Express Delhi.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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