Siemens’s FY25 outlook has too many moving parts
Live MintSiemens Ltd’s shares have plummeted about 10% in the past two trading sessions. In the energy vertical, the transmission & distribution business is doing well, but Siemens is not bidding for line commutated converter -based high-voltage direct current projects as it does not offer LCC technology. According to a Nuvama Research report, Siemens’s energy business delivered an Ebit margin of 13.2% in FY24, adjusted for a ₹70-crore one-off in Q4FY24. Excluding the energy business, Siemens’s growth will hinge on capital expenditure recovery in both the public and private sectors. Capex plans Meanwhile, to boost local and overseas demand, Siemens has earmarked capex of around ₹1,100 crore across the energy, smart infra, and mobility verticals over the next two to three years.
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