Siemens Ltd. (CMP ₹4,000.00, NSE: SIEMENS)
The SmartWay Research Desk | 5 August 2026

A Mumbai‑based engineering and technology company, incorporated in 1957. Siemens Ltd. is India’s leading industrial automation, electrification, and digitalization company, operating across power transmission, smart infrastructure, mobility, healthcare technology, and industrial software.

Promoter Holding (Mar 2026): Siemens AG — 75% stake (no pledges)

FY22–FY26 Snapshot
Revenue Growth: FY26 revenue ₹22,842 Cr vs ₹20,412 Cr in FY25 (+11.9% YoY). → Good

Net Profit: FY26 PAT ₹3,212 Cr vs ₹2,812 Cr in FY25 (+14.2% YoY). → Good

Operating Margin: FY26 EBITDA ₹5,012 Cr, margin 21.9% vs 21.2% last year (+70 bps). → Good

Equity Capital: Stable, face value ₹2. → Good

Dividend Policy: Dividend ₹12.00/share declared for FY26. → Good

Asset Building: Investments in smart grid, EV charging, and industrial automation. → Good

Sales: Strong demand from power transmission and automation solutions. → Good

Expense: Raw material and infra costs remain volatile. → Neutral/Good

EPS: FY26 EPS ₹90.25 vs ₹78.90 last year (+14.4%). → Good

Institutional Interest & Ownership Trends (Mar 2026)
Promoter Holding: 75% (no pledges)

FII Holding: 12.12%

DII Holding: 8.34%

Retail & Others: 4.54%

Strategic Moves & Innovations
Expansion in EV charging infrastructure and smart mobility.

Focus on industrial automation and digital twin solutions.

Partnerships with state utilities for smart grid projects.

Diversification into healthcare technology and imaging systems.

Cash Flow & Balance Sheet Strength
Market cap ~₹1,42,000 Cr.

Debt‑to‑equity ratio ~0.28 (low leverage).

Book value per share ₹412.00; P/B ~9.7.

EPS (TTM) ₹90.25; P/E ~44.3.

Risk Factors
High P/E ratio ~44.3, valuations expensive.

Dependence on capital expenditure cycles in infra and power.

Exposure to global supply chain and commodity risks.

Competition from ABB India, GE T&D, and Schneider Electric.

Investor Takeaway
Siemens Ltd. has delivered robust FY26 performance, supported by automation, smart grid, and EV infrastructure demand. With strong promoter backing, dividend payouts, and leadership in industrial technology, Siemens remains a premium large‑cap engineering play. At CMP ₹4,000.00, valuations are expensive (P/E ~44.3, P/B ~9.7), reflecting growth expectations but also sectoral risks.