Siemens Energy India Ltd. is set to make its debut on the stock market on Thursday, following its demerger from Siemens Ltd. in April 2025. As the company prepares for its listing, several brokerage firms have initiated coverage with optimistic target prices, highlighting the potential for investors. Here’s what to expect and whether you should consider investing.
Antique Initiates Coverage; Target Price: Rs 3,179
Antique views Siemens Energy as a strong play on technology and scale, specialising in integrated products, solutions, and services across the energy value chain, including oil and gas production, power generation, and transmission.
The company is focused on supporting customers through the energy transition and helping them achieve decarbonisation and net-zero targets, Antique noted.
“Siemens Energy has established strong infrastructure with over ten state-of-the-art factories in India, enabling it to capitalise on business opportunities in India and South Asia,” Antique noted.
Given its technology leadership, strong product portfolio, and market leadership, the brokerage assigned a ‘Buy’ rating with a target price of Rs 3,179.
Motilal Oswal Initiates Coverage; Target Price: Rs 3,000
Motilal Oswal highlights Siemens Energy as a long-standing player in transmission and distribution and small-sized turbines. The brokerage expects the company to benefit from a strong addressable market in the T&D business.
“We expect revenue and profit to grow at annual rates of 25% and 31%, respectively, over the next three fiscal years, with the profit margin expanding to 21.4% by the fiscal year 2027,” Motilal Oswal stated.
The firm assigned a target price of Rs 3,000 on Sep 2027 estimates with a ‘Buy’ recommendation. Key risks include a slowdown in ordering and supply chain issues impacting margins.
HDFC Securities Initiates Coverage; Target Price: Rs 3,000
HDFC Securities sees Siemens Energy as a play on decarbonisation, capturing maximum value among its peers with products and solutions covering a larger market size, including decarbonisation, power generation, power evacuation, grid automation, EPC services, and clean energy like green hydrogen and battery storage.
“SEL’s robust order backlog of Rs 15,000 crore lends strong growth visibility; we model a 30% fiscal year 2025-2027 estimated profit after tax compound annual growth rate,” HDFC Securities noted.
The brokerage rates Siemens Energy as a BUY with a target price of Rs 3,000 per share.
Jefferies On Siemens Energy
Jefferies anticipates that Siemens Energy shares will list between Rs 2,995 and Rs 3,711 per share. Upon listing, the company is expected to become India’s largest publicly traded pure-play power transmission and distribution equipment provider, boasting a market capitalisation exceeding $10 billion. This would place it ahead of competitors like Hitachi and GE, which have market caps ranging from $6.8 billion to $9.6 billion, according to the brokerage.
Jefferies also projects a 40% Compound Annual Growth Rate in earnings per share for Siemens Energy over fiscals 2024-2027. This growth is driven by a strong transmission and distribution pipeline and operating leverage, suggesting significant upside potential if the stock is priced below Rs 3,000 per share.
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