Siemens India (SIEMENS) · mywealthgrid

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About

Siemens India supplies electrification and automation solutions to India's industrial sector. With a market cap of ₹1,40,303 Cr, the multinational is positioned in capital goods and exposed to India's industrial capex cycle.

Founded: 1957
Face value: ₹2

Market cap

₹1,35,460 Cr

P/E

39.6×

P/B

9.8×

Dividend yield

0.5%

ROE

20.3%

ROCE

22%

Debt / equity

OPM

11.4%

EPS (TTM)

₹96.1

Book value

₹388.8

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

PE of 41.01 implies market is pricing significant growth; verify whether revenue growth can sustain this valuation if earnings plateau

Operating margins compressed to 8.7–9.1% in latest two quarters from 11–12% in comparable prior-year periods; verify drivers and sustainability

Extreme quarterly profit volatility (₹311 Cr in Mar 2026 to ₹2,122 Cr in Jun 2026) signals concentration in large orders or one-time items; verify recurrence

Cyclical capital goods exposure to industrial capex cycles; verify current customer investment confidence and order pipeline visibility

Generated analysis · source review pending

Growth drivers

8.5% YoY revenue growth (Jun 2026 ₹4,195 Cr vs Jun 2025 ₹3,867 Cr) if momentum sustains

Zero debt (D/E 0) enables organic growth capex investment and inorganic acquisition capacity

ROE of 20.33% supports earnings growth through reinvestment of retained profits

Industrial electrification and automation sector positioning in India; verify capex cycle acceleration and government infrastructure policy support

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹3,804.0+2.5%1Y

Quick read

rule-based

Pros

+Strong return on equity of 18.1% (3-yr avg)
+High return on capital employed of 20.5%
+Profit CAGR of 20.3% over the last 5 years
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 93.6×
+High promoter holding of 75% with no pledge

Cons

−Trading at 9.8× book value

Research score

Structured signal from quality, growth, valuation and momentum.

52/100

Business quality: 68
Growth: 68

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY NEXT 50 NIFTY 100 NIFTY 200 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Hindustan AeronauticsHALHAL	₹3,08,267 Cr	₹3,08,267 Cr	₹33,785 Cr	₹10,014 Cr	29.5%	₹9,321 Cr	27.6%	16.1%	24%	713
Bharat ElectronicsBELBEL	₹2,80,046 Cr	₹2,80,046 Cr	₹28,717 Cr	₹8,199 Cr	29.2%	₹6,146 Cr	22%	34.8%	27.6%	342
Tata Motors LimitedTMCVTMCV	₹1,53,008 Cr	₹1,57,825 Cr	₹87,197 Cr	₹8,812 Cr	9.1%	₹4,191 Cr	3.6%	31.3%	24%	-54
Bharat Heavy Electricals LimitedBHELBHEL	₹1,46,596 Cr	₹1,54,783 Cr	₹35,993 Cr	₹3,383 Cr	6.9%	₹2,432 Cr	4.7%	6.8%	6.3%	119
ABB IndiaABBABB	₹1,46,211 Cr	₹1,46,211 Cr	₹13,611 Cr	₹1,902 Cr	15.5%	₹2,988 Cr	12.6%	30%	22.4%	21
Hitachi Energy India LimitedPOWERINDIAPOWERINDIA	₹1,39,553 Cr	₹1,39,553 Cr	₹9,163 Cr	₹1,424 Cr	15.4%	₹1,150 Cr	12.1%	28.8%	21%	-42
Cg Power And Industrial Solutions LimitedCGPOWERCGPOWER	₹1,38,443 Cr	₹1,38,443 Cr	₹12,821 Cr	₹1,638 Cr	13.1%	₹973 Cr	9.7%	26.2%	20.4%	48
Siemens IndiaSIEMENSSIEMENS	₹1,35,460 Cr	₹1,35,460 Cr	₹18,849 Cr	₹2,013 Cr	11.4%	₹3,421 Cr	11.1%	22%	20.3%	23
Cummins India LimitedCUMMINSINDCUMMINSIND	₹1,34,719 Cr	₹1,34,719 Cr	₹12,662 Cr	₹2,588 Cr	21.4%	₹2,367 Cr	19.5%	34.7%	29.5%	60
Polycab India LimitedPOLYCABPOLYCAB	₹1,20,329 Cr	₹1,20,462 Cr	₹31,188 Cr	₹4,284 Cr	13.9%	₹2,864 Cr	9.4%	33.9%	24.5%	114
Siemens Energy India LimitedENRINENRIN	₹1,18,724 Cr	₹1,18,724 Cr	₹9,436 Cr	₹2,024 Cr	19.3%	₹1,488 Cr	14.1%	33.8%	29%	-175
Ge Vernova T&D India LimitedGVT&DGVT&D	₹1,08,882 Cr	₹1,08,882 Cr	₹6,712 Cr	₹1,757 Cr	27.1%	₹1,305 Cr	19.9%	73.2%	55.3%	90

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025	Mar 2026
	13,767	9,947	13,639	16,138	19,554	22,240	17,364	24,846
COGS	6,147	4,045	6,496	7,949	9,602	10,341	10,983	15,865
Gross profit	7,620	5,901	7,143	8,189	9,952	11,899	6,381	8,981
	6,130	4,898	5,624	6,431	7,465	8,795	4,374	6,157
	1,490	1,004	1,519	1,757	2,487	3,104	2,007	2,824
OPM %	10.8%	10.1%	11.1%	10.9%	12.7%	14%	11.6%	11.4%
Depreciation	218	252	301	317	321	330	280	415
Interest	12	30	25	36	23	61	15	34
	399	314	267	589	496	925	987	1,149
Profit before tax	1,659	1,036	1,460	1,993	2,640	3,639	2,699	3,525
Tax	560	267	370	450	678	921	593	771
Tax %	33.8%	25.8%	25.3%	22.6%	25.7%	25.3%	22%	21.9%
	1,099	769	1,090	1,543	1,962	2,718	2,106	2,754
PAT margin %	8%	7.7%	8%	9.6%	10%	12.2%	12.1%	11.1%
EPS (₹)	30.9	21.6	30.6	43.3	55.1	76.3	59.1	77.3
EPS adjusted (₹)	—	21.6	30.6	43.3	55.1	76.3	59.1	77.3
	22.7%	32.4%	26.1%	23.1%	18.2%	15.7%	30.4%	23.3%
Annual report	Annual report for Sep 2019	Annual report for Sep 2020	Annual report for Sep 2021	Annual report for Sep 2022	Annual report for Sep 2023	Annual report for Sep 2024	—	Annual report for Mar 2026

₹ Cr	Sep 2020	Sep 2021	Sep 2022	Mar 2023	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Mar 2026
Equity capital	71	71	71	71	71	71	71	71	71	71
Reserves	—	10,276	11,539	12,005	13,016	13,845	15,286	12,255	13,156	13,769
Minority interest	—	8	8	8	9	9	9	10	11	11
	—	3	0	0	0	0	0	0	0	0
	—	7,658	8,491	8,528	9,169	9,257	10,042	9,611	6,751	7,449
Total equity & liabilities	—	18,015	20,109	20,612	22,265	23,182	25,408	21,947	19,989	21,301
	1,196	3,166	3,032	3,003	2,973	2,953	3,049	2,582	2,577	2,723
CWIP	—	34	51	51	50	40	103	58	206	249
Investments	—	101	77	91	67	66	65	64	64	63
	—	14,715	16,950	17,468	19,176	20,123	22,191	19,244	17,143	18,265
Total assets	—	18,015	20,109	20,612	22,265	23,182	25,408	21,947	19,989	21,301

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Smart Infrastructure	14,039.7	1,848	7,340	3,103.6	4,236.4	43.62
Digital Industries	5,872.2	304.2

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025	Mar 2026
Margins
Gross margin %	55.3%	59.3%	52.4%	50.7%	50.9%	53.5%	36.7%	36.1%
EBITDA margin %	10.8%	10.1%	11.1%	10.9%	12.7%	14%	11.6%	11.4%
EBIT margin %	9.2%	7.6%	8.9%	8.9%	11.1%	12.5%	9.9%	9.7%
PAT margin %	8%	7.7%	8%	9.6%	10%	12.2%	12.1%	11.1%
Working capital
Receivable days	—	—	99	86	88	72	63	57
Inventory days	—	—	100	99	95	93	66	60
Payable days	—	—	206	186	161	166	124	94
NWC days	—	—	-7	-0	22	-1	5	23
Leverage
Current ratio	—	—	1.92	1.91	2.08	2.26	2.54	2.57
Debt to EBITDA	—	—	0	0	0	0	0	0
Debt to equity	—	—	0	0	0	0	0	0
Interest coverage	142.8	36.1	58.7	48.2	116.8	61.2	152.1	93.6
Asset turnover	—	—	0.76	0.8	0.88	0.88	0.87	1.17
Return ratios
Return on assets %	—	—	6.1%	7.7%	8.8%	10.7%	10.5%	12.9%
Return on capital employed %	—	—	12.9%	15%	20.5%	24.4%	15.1%	22%
Return on equity %	—	—	10.5%	13.3%	15%	17.7%	15.9%	19.9%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%
	7.93%	7.89%	8.3%	8.59%	8.69%	8.77%	8.19%	7.66%	7%	6.85%	6.8%	6.47%
	7.63%	7.71%	7.41%	7.02%	6.9%	6.78%	7.29%	7.25%	8.05%	8.36%	8.59%	9.09%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	9.44%	9.4%	9.29%	9.39%	9.41%	9.45%	9.52%	10.09%	9.95%	9.79%	9.61%	9.44%
No. of shareholders	—	—	—	—	—	—	—	—	2,81,243	2,70,941	2,58,262	2,57,203

Promoter holding up 0 percentage points since Sep 2023.

32 deals · 23 Sept 2021 – 25 Jan 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
25 Jan 2024	SOCIETE GENERALE	Block	BSE	Buy	1,13,651	₹4,199.00	₹47.72 Cr
25 Jan 2024	BNP PARIBAS ARBITRAGE	Block	BSE	Sell	1,13,651	₹4,199.00	₹47.72 Cr
14 Nov 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	NSE	Buy	1,19,876	₹2,917.20	₹34.97 Cr
14 Nov 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	NSE	Sell	1,19,876	₹2,917.20	₹34.97 Cr
3 Nov 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	BSE	Buy	1,19,877	₹2,907.95	₹34.86 Cr
3 Nov 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	BSE	Sell	1,19,877	₹2,907.95	₹34.86 Cr
25 Oct 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	BSE	Buy	64,493	₹2,817.80	₹18.17 Cr
25 Oct 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	BSE	Sell	64,493	₹2,817.80	₹18.17 Cr
17 Oct 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	BSE	Buy	1,01,349	₹2,746.40	₹27.83 Cr
17 Oct 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	BSE	Sell	1,01,349	₹2,746.40	₹27.83 Cr

1–10 of 32

1 / 4

Mr. Deepak Shantilal ParekhNon-Executive - Non Independent Director-Chairperson
Ms. Sindhu GangadharanNon-Executive - Independent Director
Mr. Shyamak Ramyar TataNon-Executive - Independent Director
Mr. Anami Narayan RoyNon-Executive - Independent Director
Mr. Matthias Ernst RebelliusNon-Executive - Nominee Director
Mr. Tim Oliver HoltNon-Executive - Non Independent Director
Mr. Juergen Michael WagnerNon-Executive - Non Independent Director
Mr. Sunil Dass MathurExecutive Director-CEO-MD
Mr. Wolfgang WrumnigExecutive Director
Mr. Ketan ThakerCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹3,725.7 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹3,731.7	-13	-0.3%	₹3,731.7	19,875	-87	1,294	175
23 Nov 2026	₹3,721.8	+0.5	+0%	₹3,721.8	134	+13	41	175
29 Dec 2026	₹3,765.2	0	0%	₹3,784.5	0	0	0	175

Open the chart icon on a row for that contract's close over 103 stored sessions, with open interest as bars beneath it.

28

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
0	0	0	₹0.0	3,100

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 16 fund houses

Held by these funds

2.99%

of the company's equity

All mutual funds

3.92%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

88 schemes · 16 fund houses

		Shares
Large Cap Fund	ICICI Prudential Mutual Fund	14.43 L	581.66	0.73%	0.405%	-87,500
Midcap Fund	SBI Mutual Fund	14.03 L	565.46	2.31%	0.394%	+2.3 L
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	10 L	403.1	2.85%	0.281%	-0
LARGE CAP FUND	Nippon India Mutual Fund	9.84 L	396.52	0.73%	0.276%	-0
MNC Fund	SBI Mutual Fund	5 L	201.5	3%	0.14%	-0
Infrastructure Fund	SBI Mutual Fund	5 L	201.5	4.19%	0.14%	-0
Manufacturing Fund	ICICI Prudential Mutual Fund	3.55 L	143.14	2%	0.1%	-0
Nifty Next 50 Index Fund	ICICI Prudential Mutual Fund	3.52 L	141.81	1.4%	0.099%	+5,610

1–8 of 88

1 / 11

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

77 announcementsExport CSV

1 Oct 2026, 9:12 amCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

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Ratio	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025	Mar 2026
Margins
Gross margin %	55.3%	59.3%	52.4%	50.7%	50.9%	53.5%	36.7%	36.1%
EBITDA margin %	10.8%	10.1%	11.1%	10.9%	12.7%	14%	11.6%	11.4%
EBIT margin %	9.2%	7.6%	8.9%	8.9%	11.1%	12.5%	9.9%	9.7%
PAT margin %	8%	7.7%	8%	9.6%	10%	12.2%	12.1%	11.1%
Working capital
Receivable days	—	—	99	86	88	72	63	57
Inventory days	—	—	100	99	95	93	66	60
Payable days	—	—	206	186	161	166	124	94
NWC days	—	—	-7	-0	22	-1	5	23
Leverage
Current ratio	—	—	1.92	1.91	2.08	2.26	2.54	2.57
Debt to EBITDA	—	—	0	0	0	0	0	0
Debt to equity	—	—	0	0	0	0	0	0
Interest coverage	142.8	36.1	58.7	48.2	116.8	61.2	152.1	93.6
Asset turnover	—	—	0.76	0.8	0.88	0.88	0.87	1.17
Return ratios
Return on assets %	—	—	6.1%	7.7%	8.8%	10.7%	10.5%	12.9%
Return on capital employed %	—	—	12.9%	15%	20.5%	24.4%	15.1%	22%
Return on equity %	—	—	10.5%	13.3%	15%	17.7%	15.9%	19.9%

Calls	Strike	Puts
0	0	0	₹0.0	3,100

Date	Category	Subject	Filing
1 Oct 2026, 9:12 am	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
28 Sept 2026, 4:38 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
22 Sept 2026, 5:21 pm	Company Update General	Application To Stock Exchanges - Reclassification From ''''Promoter'''' Category To ''''Public'''' Category In Accordance With Regulation 31A Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015	PDF
18 Sept 2026, 12:49 pm	Company Update General	Outcome Of Board Meeting - Reclassification From ''Promoter'' Category To ''Public'' Category In Accordance With Regulation 31A Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015	PDF
12 Sept 2026, 11:55 am	Company Update Scheme of Arrangement	Announcement under Regulation 30 (LODR)-Scheme of Arrangement	PDF
9 Sept 2026, 10:14 am	Company Update Scheme of Arrangement	Announcement under Regulation 30 (LODR)-Scheme of Arrangement	PDF
8 Sept 2026, 11:39 am	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
7 Sept 2026, 9:39 pm	Company Update General	Intimation Of Receipt Of Request For Reclassification From 'Promoter' Category To 'Public' Category In Accordance With Regulation 31A Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015	PDF

₹ Cr	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025	Mar 2026
	720	1,422	979	1,400	1,670	375	-535
	871	-2,389	-35	-759	-505	3,121	3,688
	-386	-502	-392	-450	-523	-3,186	-3,302
Net cash flow	1,205	-1,469	551	191	641	310	-149
Free cash flow	702	1,304	823	1,198	1,327	-6	-1,088
CFO / Operating profit %	71.7%	93.7%	55.7%	56.3%	53.8%	18.7%	-19%

Siemens India

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

3

28

Fund holders

Documents

Announcements

Events

Announcements

3

28

Announcements

Annual reports

Investor Presentation and earnings call

21

1

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Assets classified as held for sale · revenue

Siemens India

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Futures3

Option chain28

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Futures3

Option chain28

Announcements

Annual reports

Investor Presentation and earnings call

Dividends21

Board meetings1

Bonus issues1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Assets classified as held for sale · revenue

3

28

3

28

21

1

1