Team GoalFi | 19 June 2025
In a much-anticipated market debut, Siemens Energy India Ltd listed at ₹2,840 on the NSE and ₹2,850 on the BSE, sharply above its demerger reference price of ₹2,350. The stock instantly surged to hit the 5% upper circuit, capping at ₹2,982 on the NSE and ₹2,992 on the BSE.
This listing follows the demerger from Siemens Ltd., where shareholders received a 1:1 share allotment of Siemens Energy for every Siemens Ltd. share held. With this structural move, Siemens aims to unlock value and give focused capital allocation to its energy business.
Investor interest was evident, with listing prices exceeding grey market expectations and showing immediate bullishness. The newly listed company now stands as a pure-play energy and transmission infrastructure player, benefiting from India’s ambitious push towards grid modernization and decarbonization.
Brokerages are largely optimistic on the company’s prospects:
- A global brokerage projects a 40% CAGR in earnings per share (EPS) from FY24 to FY27, supported by robust order inflows and operational ramp-up. Their fair value estimate stands at ₹3,350, indicating meaningful upside from current levels.
- A domestic research house values the stock at ₹3,000, citing a projected 25% revenue CAGR and 31% profit CAGR over the next three years, driven by expanding margins.
- Other institutional research teams also maintain positive outlooks, with target prices ranging from ₹3,000 to ₹3,179, backed by a strong order book, improving capacity utilization, and long-term growth visibility in the power and energy transmission sectors.
The company’s current order book stands at ₹15,100 crore, roughly 2.4x its FY24 revenue. In the first five months of FY25 alone, orders worth ₹5,100 crore were secured. Siemens Energy is also investing ₹460 crore to double transformer capacity to meet future demand.
Despite the smooth debut, analysts advise watching for execution risk and margin sustainability as the company scales.
With this listing, Siemens Energy India joins the league of large-scale energy equipment players in the country and is well-positioned to ride the upcoming wave of power sector capex and energy transition mandates.
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