19 Jun , 2025 By : Debdeep Gupta
Siemens Energy, the power transmission and distribution (T&D) business that was demerged from Siemens, listed on the NSE at Rs 2,840 per share on June 19. Its equity shares listed above the price on the demerger date which was Rs 2,350 apiece. The stock soon hit 5 percent upper circuit post-listing, rising up to Rs 2,982 per share on the NSE.
On the other hand, Siemens Energy shares opened at Rs 2,850 on the BSE and went on to hit 5 percent upper circuit at Rs 2,992 apiece.
According to Jefferies, Siemens Energy India is expected to become the country’s largest listed pure-play T&D equipment company, highlighting its strong market presence.
The demerger from Siemens took place on April 7. Jefferies pointed out that comparable companies such as Hitachi Energy and GE Vernova T&D are currently trading at 66 times and 54 times price-to-earnings for March 2027 estimates.
The brokerage expects Siemens Energy to post a 40 percent compound annual growth rate (CAGR) in earnings per share (EPS) over FY24 to FY27, driven by a strong T&D order pipeline and benefits from operating leverage.
Jefferies also highlighted that Siemens Energy stands to gain significantly from India’s power transmission capital expenditure pipeline, which is expected to exceed 100 billion dollars. The company’s current margins reflect under 60 percent utilisation at its T&D facilities, meaning there is additional room for operating efficiency to improve, boosting earnings.
In addition to Jefferies, analysts at HDFC Securities have also issued a ‘buy’ rating on Siemens Energy. They noted that the company captures the maximum value among its peers due to its extensive product portfolio, which covers a broad market—including decarbonisation, power generation, power evacuation, grid automation, EPC services, and clean energy solutions such as green hydrogen and battery storage. HDFC Securities has placed a target price of Rs 3,000 for Siemens Energy India.
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