Siemens Energy India in focus as shares to debut on exchanges; brokerages initiate coverage with bullish outlook
Siemens Energy India will make its stock market debut on Thursday, June 19, following its demerger from Siemens Ltd, and brokerages have responded with optimism, initiating coverage with strong 'Buy' ratings and ambitious price targets.
The stock will be listed on both the BSE and NSE, with a special pre-open session held from 9:15 to 9:45 am and regular trading commencing at 10:00 am. Based on the derived dummy price from April 7, 2025, Siemens Energy India's indicative valuation stood at ₹2,478 per share, with final price discovery set to happen during today's pre-open session.
Brokerage views on listing day
Three major brokerages have initiated coverage with a positive outlook, highlighting Siemens Energy India's robust fundamentals, leadership in the transmission and distribution (T&D) space, and strong growth prospects: Antique Broking : Initiated coverage with a Buy and a target price of ₹3,179. The brokerage calls Siemens Energy India a major beneficiary of India's decarbonization push and T&D capex boom. With an order backlog of ₹15,000 crore and an estimated earnings CAGR of 35% over FY24–27, the firm expects solid medium-term visibility.
: Initiated coverage with a and a target price of ₹3,179. The brokerage calls Siemens Energy India a major beneficiary of India's decarbonization push and T&D capex boom. With an order backlog of ₹15,000 crore and an estimated earnings CAGR of 35% over FY24–27, the firm expects solid medium-term visibility. HDFC Securities : Rated the stock Buy with a target price of ₹3,000. The brokerage believes Siemens Energy India stands out among peers due to its exclusive market rights in some South Asian countries and a comprehensive product portfolio. HDFC projects a PAT CAGR of 30% for FY25–27 and cites a 2.1x FY25E revenue order book.
: Rated the stock with a target price of ₹3,000. The brokerage believes Siemens Energy India stands out among peers due to its exclusive market rights in some South Asian countries and a comprehensive product portfolio. HDFC projects a PAT CAGR of 30% for FY25–27 and cites a 2.1x FY25E revenue order book. Motilal Oswal (MOSL): Also initiated with a Buy and a target price of ₹3,000. It noted the company's long-standing presence in transmission and its advantage from upcoming T&D investments. MOSL expects revenue and PAT to grow at a CAGR of 25% and 31%, respectively, during FY25–27, with EBITDA margins improving to 21.4% by FY27.
Growth positioning and industry outlook
According to Jefferies, Siemens Energy India is set to become the largest listed pure-play T&D equipment company in the country, strategically positioned to ride the wave of India's rising power infrastructure investments. PL Capital forecasts a revenue CAGR of 19.6% between SY24 and SY27E, aided by increasing private and public capex, the proliferation of data centres, and upcoming high-voltage direct current (HVDC) projects averaging ₹10,000 crore each.
Demerger background
The demerger from Siemens Ltd received National Company Law Tribunal (NCLT) approval earlier this year. The allotment ratio was set at 1:1, meaning Siemens shareholders received one share of Siemens Energy India for every share held, as of the record date.
The debut of Siemens Energy India comes at a time when India's energy infrastructure sector is undergoing a significant transformation, and the company is expected to play a pivotal role in shaping its future.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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