Siemens Energy India Lists Strong After Demerger, Analysts See Growth Potential

Siemens Energy India, which separated from Siemens on April 7, 2025, was listed on the stock exchanges on June 19. It opened at Rs 2,840 on the NSE, which was higher than its demerger price of Rs 2,350. The stock quickly hit the 5% upper circuit, rising to Rs 2,982. On the BSE, it opened at Rs 2,850 and also hit the upper circuit at Rs 2,992.

Meanwhile, the parent company Siemens was trading 1% lower at Rs 3,310 on the BSE, with a price-to-earnings (PE) ratio of 46.

According to Jefferies, Siemens Energy is expected to become India’s largest listed company focused on power transmission and distribution (T&D) equipment. They project the company's earnings per share (EPS) to grow at 40% annually from FY24 to FY27. This growth is expected due to a strong pipeline of orders, better use of manufacturing capacity (currently under 60% utilised), and gains from operating efficiency.

Jefferies also noted that global peers like Hitachi Energy and GE Vernova are trading at higher PE ratios—66 times and 54 times estimated 2027 earnings, respectively.

India's power transmission capital expenditure is expected to cross $100 billion, which should benefit Siemens Energy significantly.

HDFC Securities also gave a ‘buy’ rating, saying the company offers more value than its competitors because of its wide product and service range. These include decarbonisation, power generation and evacuation, grid automation, EPC services, and clean energy solutions like green hydrogen and battery storage. HDFC has set a price target of Rs 3,000 for the stock.