Future growth expectations in earnings/operating earnings/profits/EPS?

Siemens Limited aims for profitable growth by expanding both top line (revenue) and bottom line (profits) (Page 23). Margin improvement is targeted across core segments excluding Energy, with focus on exports and product mix enhancing profitability (Page 23). Energy business underlying margins expected around 12.5%, supported by strong domestic and export demand (Page 17). Digital Industries and Smart Infrastructure businesses are expected to see margin expansion through combined offerings and automation (Pages 17-18). Mobility segment margins currently lower due to investments but exp

Any current/future capex/capital investment/strategic investment?

Siemens Limited has a planned capital expenditure of approximately INR 11 billion over the next 2-3 years. Breakdown of the CapEx: - Siemens Energy: INR 4.6 billion - Smart Infrastructure: INR 4 billion - Mobility segment: INR 2 billion Investments are ongoing and on track, announced in May the previous year and November 2024. These investments target expansion and strengthening of manufacturing, including building an additional factory for transformers. Strategic intent includes making India a manufacturing hub for both domestic and global business, especially in Mobility

Future growth expectations in sales/revenue/volumes?

Siemens Limited expects positive future growth supported by strong order backlog and market environment (Page 7, 12). Smart Infrastructure business shows robust demand with 12% annual order growth and 19% revenue growth in fiscal 24; expected to continue growing with electrification focus (Page 8). Mobility business growing with a 21% order increase and 38% revenue growth in fiscal 24 driven by metro projects, electrification, and exports (Page 8). Energy business anticipates strong growth fueled by global energy transition and export expansion, with order intake at INR 88 billion in fiscal 24

Current/ Expected Orderbook/ Pending Orders?

Siemens Limited's total order backlog increased to INR 483 billion, supported by strong new orders and stable product/service business. New orders totaled INR 235.6 billion with three strong quarters around and above INR 60 billion per quarter. Excluding the locomotive order, the ex-Energy business order book grew approximately 10% (from 115 to 382 billion INR). The locomotive order contributes INR 263 billion to the total order book; execution ongoing with the first locomotive delivery expected in late FY25. Siemens maintains a Book to Bill ratio of about 1.13 (excluding locomotive order), in

Siemens LtdQ2 FY25Electrical Equipment

Siemens Ltd Q2 FY25 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹3,366P/E: 79.7Market Cap: ₹1.2L CrSector: Electrical Equipment

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

N/A

Order

Yes

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 3

Siemens Limited expects positive future growth supported by strong order backlog and market environment (Page 7, 12).
Smart Infrastructure business shows robust demand with 12% annual order growth and 19% revenue growth in fiscal 24; expected to continue growing with electrification focus (Page 8).
Mobility business growing with a 21% order increase and 38% revenue growth in fiscal 24 driven by metro projects, electrification, and exports (Page 8).
Energy business anticipates strong growth fueled by global energy transition and export expansion, with order intake at INR 88 billion in fiscal 24 (Pages 8, 17).
Digital Industries expected to recover post-destocking; currently muted but expected to pick up with private sector capex revival (Pages 8, 18).
Export content planned to increase, especially in Mobility and Energy, leveraging India as a manufacturing hub for global business (Pages 12, 21, 22).
Moderate near-term revenue growth in Energy constrained by customer delays; improvement expected in fiscal 25 as backlog executes (Page 22).

Margin guidance

Category 3

Siemens Limited aims for profitable growth by expanding both top line (revenue) and bottom line (profits) (Page 23).
Margin improvement is targeted across core segments excluding Energy, with focus on exports and product mix enhancing profitability (Page 23).
Energy business underlying margins expected around 12.5%, supported by strong domestic and export demand (Page 17).
Digital Industries and Smart Infrastructure businesses are expected to see margin expansion through combined offerings and automation (Pages 17-18).
Mobility segment margins currently lower due to investments but expected to improve as production ramps (Page 18).
FY24 EBITDA margin at 13.7%, up 100 basis points from prior year; EBITDA growth supported by volume, better pricing, and cost control (Pages 6-7).
Order backlog growth, strong project execution, and government infrastructure spending provide solid base for future revenue and profit growth (Pages 3,7).
EPS growth supported by increased revenue, margin expansion, and cash generation improvements (Page 7).

See what Siemens Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

- The transcript does not mention any current or planned fundraising through debt or equity. - There is no indication of new capital raising activities in the questions or answers. - Focus appears to be on improving profitability, expanding exports, and executing ongoing investments. - Investments in Siemens Energy, Mobility, and Smart Infrastructure businesses are on track, but no mention of funding sources. - The company highlights strong cash generation and operational cash flow improvements, which might reduce the immediate need for external fundraising. - The Energy business demerger is on track for completion in calendar year 2025; no note of fundraising related to this. In summary, based on the provided discussion, Siemens Limited has not indicated any plans for new debt or equity fundraising at this time.

Order book

Yes

Siemens Limited's total order backlog increased to INR 483 billion, supported by strong new orders and stable product/service business.
New orders totaled INR 235.6 billion with three strong quarters around and above INR 60 billion per quarter.
Excluding the locomotive order, the ex-Energy business order book grew approximately 10% (from 115 to 382 billion INR).
The locomotive order contributes INR 263 billion to the total order book; execution ongoing with the first locomotive delivery expected in late FY25.
Siemens maintains a Book to Bill ratio of about 1.13 (excluding locomotive order), indicating healthy order inflow relative to revenue.
Energy business has a significant backlog driving revenue, with some delays due to customer offtake and project schedules.
The company expects order inflows to remain positive, with increased export orders in Mobility and Energy segments contributing further.

See what Siemens Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

Siemens Limited has a planned capital expenditure of approximately INR 11 billion over the next 2-3 years.
Breakdown of the CapEx:
- Siemens Energy: INR 4.6 billion
- Smart Infrastructure: INR 4 billion
- Mobility segment: INR 2 billion
Investments are ongoing and on track, announced in May the previous year and November 2024.
These investments target expansion and strengthening of manufacturing, including building an additional factory for transformers.
Strategic intent includes making India a manufacturing hub for both domestic and global business, especially in Mobility and Energy portfolios.
Focus on increasing export content and leveraging global synergies through local production.
Continued investment in new technologies and infrastructure to support long-term growth.

Track Siemens Ltd — get its next earnings analysis in your feed

How does Siemens Ltd rank vs peers in Electrical Equipment?

Pro feature

ThisSiemens Ltd

Rev 3Mar 3

See where Siemens Ltd sits in Electrical EquipmentSee which companies these are, and every other name in the sector.Open rankings

How does Siemens Ltd rank in Electrical Equipment?

Compare Siemens Ltd against every Electrical Equipment company (Q2 FY25) on revenue, margins and earnings-call signals.

View Electrical Equipment leaderboard →

What Siemens Ltd's management said in earlier quarters

Others in Electrical Equipment this season

Ram Ratna Wires (Q2 FY27)
Quarter Revenue (Consolidated):** ₹1,96,195.19 lakhs for Q2 FY2027 (30-09-2026) . Key results statement takeaways from Ram Ratna Wires Ltd's Q2 FY27 results sta
Suzlon Energy Ltd (Q2 FY27)
Q2 FY27 consolidated net deliveries: 710 MW, up from 565 MW in Q2 FY26 (25.7% YoY increase). Key results statement takeaways from Suzlon Energy Ltd's Q2 FY27 ea
Yash Highvoltage Ltd (Q2 FY27)
Bushings volume saw a 40% growth in H1 FY27 compared to H1 FY26, indicating strong volume momentum. Key concall takeaways from Yash Highvoltage Ltd's Q2 FY27…
Volt.Transform. (Q2 FY27)
Revenue from operations for the quarter ended 30th September 2026: ₹68,419.19 lakh . Key results statement takeaways from Voltamp Transformers Ltd's Q2 FY27 ear

Compare:vs Bharat Heavy Electricals Ltd vs A B B vs CG Power & Industrial Solutions Ltd

🔎 Who's planning the most growth?

Companies ranked by management's own guidance — revenue, margins, capex and order book, from every earnings call in India.

See rankings →

Siemens Ltd Q2 FY25 Earnings Call Analysis

Revenue guidance

Fundraise plans

Capex plans

How does Siemens Ltd rank in Electrical Equipment?

Continue your research

What Siemens Ltd's management said in earlier quarters

Others in Electrical Equipment this season