27 May , 2026 By : Debdeep Gupta
The stock climbed 5.46 per cent to an intraday high of Rs 3,878 apiece on the NSE.
Brokerage firm JM Financial Institutional Securities said Siemens' management indicated strong domestic demand across both public and private sectors.
The brokerage noted that order inflows rose 33 per cent year-on-year to Rs 67.31 billion during the quarter, taking the order backlog to Rs 450.33 billion. It maintained an 'add' rating on the stock with a target price of Rs 3,595.
According to a report by Informist, Siemens' bottom line for the March quarter missed Street estimates due to a higher base in the corresponding quarter of the previous year.
The report said the year-ago quarter had benefited from income related to discontinued operations of its energy business transferred to Siemens Energy India. It added that currency depreciation and higher commodity costs also impacted earnings during the quarter.
JM Financial said Siemens' Q4FY26 EBITDA missed its estimate and consensus estimates by 23 per cent and 16 per cent, respectively, due to pressure on gross margins.
The company reported gross margin at 26.2 per cent in Q4FY26 compared with 30.2 per cent in Q4FY25.
The brokerage said the weaker profitability was mainly due to higher commodity prices and rupee depreciation, as indicated by the management in its press release.
It added that margins in the Digital Industries segment stood at 2.3 per cent against its estimate of 8 per cent, while margins in the Smart Infrastructure segment came in at 11.1 per cent compared with an estimate of 15 per cent.
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