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2025-04-12 10:33:01 am | Source: Motilal Oswal Financial Services Ltd
Neutral Siemens Ltd For Target Rs. 5,750 by Motilal Oswal Financial Services Ltd
Neutral Siemens Ltd For Target Rs. 5,750 by Motilal Oswal Financial Services Ltd

* We expect combined revenue (energy and non-energy) to remain flat YoY, with Energy segment growing 5% YoY but digital energy segments declining by 25% YoY. Key monitorables include the demand trajectory of the nonenergy segment, private capex pipeline, margin trajectory, and execution of the locomotive order.

* We expect total EBITDAM to contract ~160bp primarily due to low margin in the Digital industries segment, which had a high base in 2QFY24.

* Demand outlook from both the government and private sectors and export outlook to be monitored keenly.

 

 

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