Siemens Energy shares list at Rs 2,850; mcap tops Rs 1 lakh crore
Siemens Energy India kicked off its trading on Thursday, June, 19 but was demerged from Siemens Ltd on April 7, 2025 and the stock price for spun-off entity was valued at Rs 2,368.8 apiece.
- Jun 19, 2025,
- Updated Jun 19, 2025 10:02 AM IST
Shares of Siemens Energy India were listed at Rs 2,850 in the special pre-opening session on Thursday, June 19, 2025. The company was demerged from Siemens Ltd on April 7, 2025 and the stock price for the spun-off entity was valued at Rs 2,368.8 apiece. However, the fair price discovery mechanism valued it with a total market capitalization of Rs 1.01 lakh crore.
Siemens Energy India (SEIL) has informed Siemens that SEIL has received approval from BSE Ltd and the National Stock Exchange of India (NSE) for listing and trading of its equity shares effective June 19, 2025, said Siemens in an exchange filing on Wednesday, June 18, 2025.
The shares of Siemens Energy India will trade under the scrip ID ENRIN and shall be listed under the ‘T’ Group of securities, which means that intraday buying and selling of the stock shall not be allowed and the stock shall trade with a upper circuit of 5 per cent for first ten trading sessions.
Siemens Energy India has become India’s largest listed pure-play power transmission and distribution (T&D) equipment player with nearly $13 billion market capitalization (m-cap), surpassing peers like Hitachi Energy & GE Vernova. All the eligible shareholders of Siemens India, as of the record date, received SEIL shares in 1:1 ratio.
Siemens Energy India focuses on T&D as well as small-sized turbines. The company shall benefit from a strong addressable market in the T&D business. Based on the financial details available for FY24, we arrive at pro forma financials for the energy business. Margins have already started expanding in 5MFY25, said Motilal Oswal Financial Services.
"We expect revenue/PAT CAGR of 25 per cent/31 per cent over FY 25-27, with EBITDA margin expanding to 21.4 per cent by FY27. We ascribe a multiple of 60 times to Siemens Energy and arrive at a target of Rs 3,000 on September 27 estimates," it added with a 'buy' rating, resuming coverage on the stock.
Siemens Energy captures the maximum value among its peers as it has products/solutions covering a larger market size, viz, decarbonization, power generation, power evacuation, grid automation, EPC services, and clean energy like green hydrogen and battery storage. Ihis has been a highly profitable business for Siemens India which has clocked 22.6 per cent Ebitda margin for H1FY25, said HDFC Securities.
"With the demerger, SEL becomes a power pure play with exclusive rights for some South Asia countries (Bhutan, Nepal, Sri Lanka, and Maldives). Given the strong cash flows, robust order book, limited competitive intensity, and export opportunities, we rate SEIL as a 'buy' with a target price of Rs 3,000 apiece, 60 times Sep-27E EPS, P/E in line with Hitachi Energy multiple)," HDFC adds.
Jefferies had expected Siemens Energy to list between Rs 2,995 per share and Rs 3,711 per share. "We believe Siemens Energy can trade at 60 times PE March 2027E, which is a 9 per cent premium to our target price multiple on Siemens ex-Energy, implying a price target of Rs 3,350 per share," it said.
Brokerages have cited a slowdown in ordering and supply chain issues impacting margin, rise in fixed cost faster than revenue growth, capex cycle trends further weakening as key risks to their thesis.
Shares of Siemens Energy India were listed at Rs 2,850 in the special pre-opening session on Thursday, June 19, 2025. The company was demerged from Siemens Ltd on April 7, 2025 and the stock price for the spun-off entity was valued at Rs 2,368.8 apiece. However, the fair price discovery mechanism valued it with a total market capitalization of Rs 1.01 lakh crore.
Siemens Energy India (SEIL) has informed Siemens that SEIL has received approval from BSE Ltd and the National Stock Exchange of India (NSE) for listing and trading of its equity shares effective June 19, 2025, said Siemens in an exchange filing on Wednesday, June 18, 2025.
The shares of Siemens Energy India will trade under the scrip ID ENRIN and shall be listed under the ‘T’ Group of securities, which means that intraday buying and selling of the stock shall not be allowed and the stock shall trade with a upper circuit of 5 per cent for first ten trading sessions.
Siemens Energy India has become India’s largest listed pure-play power transmission and distribution (T&D) equipment player with nearly $13 billion market capitalization (m-cap), surpassing peers like Hitachi Energy & GE Vernova. All the eligible shareholders of Siemens India, as of the record date, received SEIL shares in 1:1 ratio.
Siemens Energy India focuses on T&D as well as small-sized turbines. The company shall benefit from a strong addressable market in the T&D business. Based on the financial details available for FY24, we arrive at pro forma financials for the energy business. Margins have already started expanding in 5MFY25, said Motilal Oswal Financial Services.
"We expect revenue/PAT CAGR of 25 per cent/31 per cent over FY 25-27, with EBITDA margin expanding to 21.4 per cent by FY27. We ascribe a multiple of 60 times to Siemens Energy and arrive at a target of Rs 3,000 on September 27 estimates," it added with a 'buy' rating, resuming coverage on the stock.
Siemens Energy captures the maximum value among its peers as it has products/solutions covering a larger market size, viz, decarbonization, power generation, power evacuation, grid automation, EPC services, and clean energy like green hydrogen and battery storage. Ihis has been a highly profitable business for Siemens India which has clocked 22.6 per cent Ebitda margin for H1FY25, said HDFC Securities.
"With the demerger, SEL becomes a power pure play with exclusive rights for some South Asia countries (Bhutan, Nepal, Sri Lanka, and Maldives). Given the strong cash flows, robust order book, limited competitive intensity, and export opportunities, we rate SEIL as a 'buy' with a target price of Rs 3,000 apiece, 60 times Sep-27E EPS, P/E in line with Hitachi Energy multiple)," HDFC adds.
Jefferies had expected Siemens Energy to list between Rs 2,995 per share and Rs 3,711 per share. "We believe Siemens Energy can trade at 60 times PE March 2027E, which is a 9 per cent premium to our target price multiple on Siemens ex-Energy, implying a price target of Rs 3,350 per share," it said.
Brokerages have cited a slowdown in ordering and supply chain issues impacting margin, rise in fixed cost faster than revenue growth, capex cycle trends further weakening as key risks to their thesis.