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.
This story is from the December 24, 2024 edition of Mint Ahmedabad.
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This story is from the December 24, 2024 edition of Mint Ahmedabad.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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