Business Standard

Siemens scaling new heights on strong performance, govt's infra thrust

Decent upside in the stock given that most analysts are positive with target prices ranging Rs 3,250-3,800

Photo: Reuters

Photo: Reuters

Devangshu Datta New Delhi
The cycle is up for engineering firms, and Siemens is likely to be one of the leading beneficiaries. Apart from the generic revival in activity which is expected to continue through FY2023-24, the Budget has a strong infrastructure thrust, which works in Siemens favour.

The company reported standalone EBITDA of Rs 550 crore (up 66 per cent year-on-year or YoY) in Q1FY23 (Siemens follows a October-September accounting year). This was driven by 13 per cent YoY revenue growth to Rs 3,600 crore and the Ebitda margin expanded by 480 basis points to 15.1 per cent.

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First Published: Feb 24 2023 | 8:50 AM IST

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