Siemens Energy Share Price Up 3% On Listing; Jefferies, HDFC Securities Recommend ‘Buy', Predict 20-30% Upside

Siemens Energy share price is in focus today after Siemens Energy India Ltd (SEL) made its debut on the stock market, June 19, after its recent demerger from Siemens Ltd. The energy business was officially spun off in April, with Siemens Ltd shares trading ex-demerger from April 7. The implied value of Siemens Energy shares post-demerger was estimated at Rs. 2,478 per share.

Siemens Energy Share Price Today

Siemens Energy shares listed at Rs. 2,840, higher than the estimated price of Rs. 2,478.20. On the BSE, it opened at Rs. 2,850. As of 11:00 AM, Siemens Energy share price was holding at Rs. 2,901.10, up Rs. 51.10 or 1.79%.

Post-demerger, Siemens Energy India emerges as a focused energy solutions provider. The company caters to a wide range of segments, including decarbonisation, power generation, transmission, grid automation, and clean energy technologies such as green hydrogen and battery storage. SEL also holds exclusive operating rights in select South Asian countries Bhutan, Nepal, Sri Lanka, and the Maldives.

In the first five months of FY25, SEL reported a strong EBITDA margin of 22.6%, underlining its operational efficiency. Backed by a robust order book worth ₹15,000 crore-approximately 2.1 times its estimated FY25 revenue-the company has solid growth visibility. Analysts project a 30% CAGR in profit after tax (PAT) between FY25 and FY27, supported by the adoption of cutting-edge technologies like PEM electrolysers and hydrogen-fuelled turbines.

In a recent note, Jefferies highlighted the ongoing transformation in India's power infrastructure landscape. The broking estimates that power sector capex will more than double to over USD 300 billion between FY24 and FY30, driven by a 21% CAGR in power investments. SEL is also investing ₹460 crore to double its power transformer capacity, indicating management's confidence in long-term growth.

Jefferies note stated, "SEL received ₹51,000 crore in new orders in the first five months of FY25, compared to ₹88,000 crore in FY24. As of March 1, 2025, the company had a total order backlog of ₹1.51 lakh crore, around 2.4 times its FY24 revenue. Jefferies values Siemens India (excluding energy business) at a target price of ₹3,700, applying a valuation in line with peers like ABB."
However, the note also flagged potential downside risks such as a faster-than-expected rise in fixed costs or a slowdown in the broader capex cycle.

According to HDFC Securities, SEL is well-positioned to benefit from India's ongoing decarbonisation journey. The company, under the umbrella of parent Siemens Energy, has access to a portfolio of advanced technologies, including battery storage solutions, PEM electrolyisers for green hydrogen, and hydrogen blend-fired gas turbines. While some of these innovations are still in early stages of adoption, SEL is expected to benefit from first-mover advantages in the clean energy space.

Brokerages Maintain Bullish Outlook On Siemens Energy

Multiple brokerages have assigned a 'Buy' rating to Siemens Energy India. Antique Broking has set a target price of Rs 3,179, valuing the stock at 65x its FY27 estimated EPS of Rs 49.

HDFC Securities has given a target price Seimens energy shares of Rs. 3,000, citing strong cash flows, a healthy order book, limited competition, and growing export opportunities. The analyst estimates SEL could deliver a 40% EPS CAGR between FY24 and FY27 because of a strong T&D pipeline and improving operating leverage.

Jefferies has set a target price of Rs. 3,000 per share for Siemens Energy India, saying the company could see strong earnings growth of about 40% per year from FY24 to FY27.

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