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Informist, Wednesday, May 13, 2026

By Arundathi A R

MUMBAI – Siemens Energy India Ltd. is likely to post double-digit year-on-year rise in both its bottom line and top line for the March quarter on the back of strong execution in the power generation and transmission segments. However, on a sequential basis, the bottom line is expected to fall.

Siemens Energy is expected to post a net profit of INR 3.59 billion for the March quarter, according to an average of estimates from five brokerages. This would mean a rise of nearly 46% on year, the highest growth in three quarters. The highest estimate of INR 3.86 billion for the net profit is from Prabhudas Lilladher Pvt. Ltd. and the lowest estimate of INR 3.37 billion is from Equirus Securities Pvt. Ltd.

Siemens Energy is expected to report net sales of INR 22.57 billion for the quarter, up 20% on year, according to the average of estimates. This would be the slowest on-year growth in the company's revenue since the quarter ended March in 2025. The highest estimate of INR 23.47 billion for the revenue is from Prabhudas Lilladher and the lowest, INR 21.60 billion, is from HDFC Securities Ltd.

"We expect Siemens Energy to register revenue growth of (about) 25% YoY (year-on-year) led by strong execution in the power transmission and generation segments," Prabhudas Lilladher said.

Siemens Energy has a comprehensive portfolio of products, solutions, and services designed to strengthen and expand grid infrastructure, addressing the growing demand. It ensures grid stability amid the integration of renewable energy sources, supported by project management hubs.

The company is likely to post earnings before interest, tax, depreciation, and amortisation of INR 4.75 billion for the March quarter, according to an average of estimates from four brokerages. The highest estimate of INR 5.28 billion for the company's EBITDA is from Prabhudas Lilladher and the lowest estimate of INR 4.34 billion is from Equirus Securities.

"EBITDA margin is likely to expand by (about) 50bps (basis points) YoY led by favorable revenue mix," according to Prabhudas Lilladher. Siemens Energy's EBITDA margin is also expected to improve on year on better pricing, according to Motilal Oswal Financial Services Ltd.

The company will release its March quarter earnings Thursday. Wednesday, the stock closed nearly 2% higher from Tuesday at INR 3,112.60 on the National Stock Exchange. The stock has risen 13% since the company announced its earnings for the December quarter. Market participants will focus on the management's commentary on the demand outlook for both the transmission and generation portfolios. They will also watch out for the execution ramp-up in the transmission and distribution segment.

The management's commentary on the order pipeline for the new voltage source converter-based high voltage direct current and static synchronous compensator will also be monitored, Equirus Securities said. Any impact on the company's operations from the West Asia conflict will also be monitored.

Of the 11 brokerage reports on the company available with Informist, seven have a "buy" recommendation on the stock with an average target price of INR 3,490. This is over 12% higher than the current market price. The remaining four have a "hold" recommendation with an average target price of INR 3,176.

Following are the Jan-Mar earnings estimates for Siemens Energy, in INR billion, from five brokerages in descending order of the net profit estimate:

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Edited by Rajeev Pai

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