Slowdown is hurting Siemens India stock, despite a business reorganisation

The bill-to-book ratio in the September quarter fell to the lowest since 2015-16, indicating that underlying economic conditions are unfavourable even for smaller orders

Siemens India has been undertaking a business reorganisation to make itself better suited for the current environment and improve its overall profitability. The latter seems to be falling into place — its operating profit margins improved to 10.8 per cent in 2018-19 from 10.3 per cent a year earlier, even as it dropped to 9.8 per cent in the September quarter, or Q4, as Siemens follows an October-September financial year, due to certain one-offs. In fact, over a two-year period, its operating profit margin has increased from 9.5 per cent in 2016-17. However, the problem seems to lie in unpredictability