Siemens Energy India Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Siemens Energy India Ltd trades at ₹3,386, in a confirmed uptrend and 11 weeks into that stage. That is +7.9% against its own 200-day average. It sits at 72% of a 52-week range of ₹2,125 to ₹3,872. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (2 weeks and counting).

Today the stock is in a confirmed uptrend — week 11 of stage 2, confirmed. At ₹3,386 it trades +7.9% versus its 200-day average and sits at 72% of its 52-week range (₹2,125–₹3,872).

Against the market, two honest reads. Cumulative: over the last 1.1 years the stock moved +28% while the NIFTY 500 moved +0% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (2 weeks and counting; last ahead the week of 2026-07-03) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 28th percentile of its own range.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Siemens Energy India Ltd trades at 85.6× P/E, near the bottom of its own range — cheaper only 28% of the time. Its long-run median P/E is 89.9×, measured across 0.5 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 85.6× is near the bottom of its own range — cheaper only 28% of the time, against a long-run median of 89.9× measured over 0.5 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read.

Siemens Energy India Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 5 quarters across 1 curve, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

4-Factor Sector Score

51.5/100 — rank 5 of 6 in Electrical Equipments/HVDC · 83% evidence confidence

Siemens Energy India Ltd scores 51.5 out of 100 against the 6 companies it is compared with in Electrical Equipments/HVDC, ranking 5. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 19.9 + 17.6 + 9.2 + 4.8 = 51.5. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

Siemens Energy India Ltd reported ₹2,394 Cr of revenue in the Mar 26 quarter, +27.3% year on year. That is the 2nd straight quarter of year-on-year growth. The last full year, FY25, came in at ₹7,827 Cr. The last four reported quarters add to ₹8,736 Cr.

Siemens Energy India Ltd reported ₹2,394 Cr of revenue in the Mar 26 quarter, +27.3% year on year. That is the 2nd straight quarter of year-on-year growth. The last full year, FY25, came in at ₹7,827 Cr. The last four reported quarters add to ₹8,736 Cr.

FY25 revenue came in at ₹7,827 Cr (+195.0% on the year). The latest quarter (Mar 26) printed ₹2,394 Cr, +27.3% year on year — the 2nd consecutive quarter of year-over-year growth.

→ Revenue grew — did margins hold as it scaled? Next: 21.0% this quarter (+2.0 pp YoY).

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Siemens Energy India Ltd's operating margin is 21.0% in the Mar 26 quarter, +2.0 percentage points against the same quarter a year ago. Across 3 fiscal years the operating margin has ranged 18.0% to 22.0%. The current quarter sits inside that band.

Siemens Energy India Ltd's operating margin is 21.0% in the Mar 26 quarter, +2.0 percentage points against the same quarter a year ago. Across 3 fiscal years the operating margin has ranged 18.0% to 22.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 21.0%, +2.0 pp against the same quarter a year ago. Across 3 fiscal years the operating margin has ranged 18.0%–22.0%.

Why the margin moved: operating margin went +1.7 pp year on year while gross margin went +14.2 pp — the gain came mostly from the gross line: input costs and pricing.

→ Margins held — did that reach the bottom line? Next: profit +52.4% in the latest quarter.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Siemens Energy India Ltd earned ₹375 Cr of net profit in the Mar 26 quarter, +52.4% year on year. It is the 2nd consecutive quarter of growth. Full-year FY25 profit was ₹1,100 Cr. That is 15.7% of the quarter's revenue. The same quarter a year earlier earned ₹246 Cr.

Siemens Energy India Ltd earned ₹375 Cr of net profit in the Mar 26 quarter, +52.4% year on year. It is the 2nd consecutive quarter of growth. Full-year FY25 profit was ₹1,100 Cr. That is 15.7% of the quarter's revenue. The same quarter a year earlier earned ₹246 Cr.

Mar 26 profit was ₹375 Cr, +52.4% year on year — the 2nd consecutive quarter of growth. On the full year, FY25 printed ₹1,100 Cr (+168.9%).

Why profit moved: revenue contributed +27.3% and the margin +2.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.

Pace comparison, last four quarters: profit +55.8% vs revenue +24.5%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

→ Profit rose — but did the cash follow? Next: 250% of the last 2 years' profit arrived as cash.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 2 fiscal years 250% of Siemens Energy India Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY25 that was ₹3,670 Cr of operating cash against ₹1,100 Cr of profit. After ₹715 Cr of capital spending, ₹2,955 Cr was left as free cash.

FY25: operating cash of ₹3,670 Cr against reported profit of ₹1,100 Cr, leaving free cash of ₹2,955 Cr after ₹715 Cr of capital spending. Across the last 2 fiscal years the conversion rate is 250% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Why conversion sits at 250%: the cash cycle tightened 52 days between FY24 and FY25 — cash that used to wait in the cycle now reaches the bank sooner.

Router verdict: the bigger cash user is investment — capital spending ran 6.9× depreciation over three years, so the next section's job is to check what that build-out is buying.

→ So follow the cash to where it goes. Next: ₹715 Cr of building over 1 years.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Siemens Energy India Ltd's cash conversion cycle runs 90 days in FY25, down from 142 days in FY24. Capital spending ran ₹715 Cr over the last 1 years. At FY25 sales of ₹7,827 Cr each day of that cycle holds about ₹21.4 Cr, so roughly ₹1,930 Cr sits inside the business at any moment.

FY25: debtors at 90 days (an asset-light business — no inventory to speak of) — for a full cycle of 90 days, tighter than FY24's 142.

In money terms: at FY25 sales of ₹7,827 Cr, each day of the cycle holds about ₹21.4 Cr — so the 90-day loop keeps roughly ₹1,930 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹715 Cr over the last 1 fiscal years against ₹103 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹76.0 Cr (FY25) — capacity paid for but not yet earning.

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 68% and the ROIC − WACC spread is +78.5 pp.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Siemens Energy India Ltd earns a ROCE of 68% in FY25. Return on invested capital clears the cost of that capital by +78.5 percentage points, so growth here adds value rather than only size. The wiring behind it is 14.1% net margin on 0.82× asset turns.

FY25 ROCE is 68%.

Why the return is what it is — the wiring (FY25): 14.1% net margin × 0.82× asset turns × 2.18× balance-sheet leverage ≈ 25.2% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 90.5% − 12.0% = a +78.5 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.03.

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.

Siemens Energy India Ltd carries total debt of ₹216 Cr against shareholder equity of ₹4,812 Cr as of Mar 26, a debt-to-equity of 0.04 — effectively unlevered. On the annual view that ratio went from 0.03 in FY25 to 0.04 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹216 Cr against shareholder equity of ₹4,812 Cr — a debt-to-equity of 0.04. On the annual view, debt-to-equity went from 0.03 (FY25) to 0.04 (FY26). The returns on this page are earned, not borrowed.

→ Who owns this, and are they adding or leaving? Next: Foreign institutions added 2.9 points over 4 quarters.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Foreign institutions added 2.9 points of Siemens Energy India Ltd over 4 quarters, the biggest move on the register. That takes foreign institutions to 7.7% of the company. Domestic institutions moved −2.7 points over the same window, to 6.4%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Foreign institutions: +2.9 points over 4 quarters to 7.7%; Domestic institutions: −2.7 points over 4 quarters to 6.4%; Promoters: +0.0 points over 4 quarters to 75.0%.

Why the register moved: rotation — foreign institutions +2.9 points against domestic institutions −2.7 points over 4 quarters, with promoters holding steady — one class of institutions handing the register to the other, not a verdict change by the people closest to the numbers.

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Siemens Energy India Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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