Capital Goods - Electrical Equipment · SIEM
Capital Goods - Electric General
from 4,002 today
We retain our FY27E/FY28E EPS and roll over to Sept’29E EPS, maintaining a BUY rating with a revised target price of INR 4,748 amidst strong macro tailwinds and robust demand.
Siemens' 1QFY27 results were mixed, with in-line revenue and a miss on profitability due to lower margin. We retain Neutral rating on the stock with a revised TP of INR3,600, rolling forward to 45x Sep'28E earnings.
We revised our EPS estimates by -9.1% for FY27E factoring in impact on margin amid commodity inflation, forex volatility and higher input cost. We maintain our rating to 'Hold' while valuing the stock at a PE of 51x Mar'28E arriving at a TP of Rs3,831.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
