Power Generation & Distribution · ENRIN
Electrical Equipments/HVDC
from 3,119 today
Our recent interaction with Siemens Energy suggests that ordering is gradually ramping up in the transmission sector, and long-term demand from grid strengthening, grid flexibilization and data center remains strong. We cut our estimates by 5%/2% for FY27/28 to align with the capacity commissioning schedule of new facilities and maintain BUY with a revised TP of INR4,000, based on 55x Sep'28E earnings.
We maintain BUY with a revised TP of INR4,000 as ordering gradually ramps up in the transmission sector and long-term demand from grid strengthening, grid flexibilization, and data centers remains strong.
Siemens Energy declared a strong 3QFY26 operational performance with revenue and margins beating estimates. Given its technology leadership, strong product portfolio, and robust 9MFY26 performance, we retain BUY with a revised target price of INR 4,235.
ENRIN's 3QFY26 results were ahead of estimates on all counts, driven by strong growth in power transmission and power generation segments. We retain BUY with a revised target price of INR4,100.
We maintain our 'Accumulate' rating valuing stock at a PE of 55x Mar’28E arriving at a revised TP of INR3,434, factoring in stronger than expected execution and improving operating leverage aided by favourable revenue mix.
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.
