Earnings Outlook
Siemens seen posting 30% on-year growth in Oct-Dec PAT
This story was originally published at 07:23 IST on 11 February 2025
Register to read our real-time news.Informist, Tuesday, Feb. 11, 2025
By Sunil Raghu
AHMEDABAD – Siemens Ltd. is expected to report a net profit of INR 6.04 billion for the December quarter, up 30.3% on year, according to the average of the estimates of seven brokerage firms. The company's revenue is estimated to rise 23.7% on year to INR 54.9 billion, driven by growth in projects across the segments the company is present in – smart infrastructure, energy, and mobility.
Sequentially, the engineering company's net profit is expected to fall 22.1% and revenue is seen falling 8.2%. For the year-ago period, the company had reported a net profit of INR 4.6 billion on revenue of INR 44.4 billion, while for Jul-Sept, the net profit was around INR 7.8 billion on revenue of INR 59.8 billion.
Among brokerages, Elara Securities (India) Pvt. Ltd. has estimated Siemens' net profit the highest at INR 6.6 billion and HDFC Securities Ltd. the lowest at INR 5.6 billion. The highest revenue was estimated by Nuvama Wealth Management Ltd at INR 58.7 billion, while HDFC Securities Ltd. estimated the lowest at INR 50.8 billion.
In their respective reports, Motilal Oswal Securities said it expects Siemens' revenue to grow 14% on year, while Prabhudas Liladher pegged the growth at 15% on year. Both have attributed this to execution ramp-up in energy, smart infrastructure and mobility segments. Motilal Oswal believes this would also help in expansion of earnings before interest, tax, depreciation and amortisation margin by 70 basis points. Prabhudas Liladher sees the EBITDA margin expanding 120 basis points, aided by a better mix and employee cost leverage.
Siemens is expected to report earnings before interest, tax, depreciation, and amortisation of INR 7.3 billion, according to the average of the estimates of seven brokerages. The estimates for EBITDA range from INR 7.9 billion by Nuvama Wealth Management to INR 6.7 billion by HDFC Securities.
Analysts are keen on knowing Siemens' margin trajectory, execution progress of the locomotive order, demand trajectory of the digital industries segment, and the private capex pipeline. They are also tracking the outlook on demand from both the government and private sector, as well as the outlook on exports. The company is scheduled to deatil its earnings on Wednesday
On Monday, shares of Siemens closed at INR 5,349.25 per share on the National Stock Exchange, down 2.8%.
Following are the Oct-Dec consolidated earnings estimates for Siemens Ltd based on reports from seven brokerage firms in the descending order by estimate of net profit:
Brokerage firm | Net sales | Net profit | EBITDA |
| -------(In INR million)------- | ||
Elara Securities (India) Pvt Ltd | 55,194.00 | 6,558.00 | 7,349.00 |
Nuvama Wealth Management Ltd | 58,714.00 | 6,200.00 | 7,926.00 |
Prabhudas Lilladher Pvt Ltd | 55,312.00 | 6,015.00 | 7,522.00 |
Kotak Institutional Equities | 54,810.00 | 5,971.00 | 7,336.00 |
Motilal Oswal Financial Services Ltd | 54,874.00 | 5,970.00 | 7,179.00 |
Nomura Equity Research | 54,520.00 | 5,943.00 | 7,067.00 |
HDFC Securities Ltd | 50,800.00 | 5,600.00 | 6,700.00 |
Average | 54,889.14 | 6,036.71 | 7,297.00 |
End
Edited by Avishek Dutta
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