Siemens Energy India marked its debut on the Indian stock market today, June 19, 2025, listing at Rs 2,840 per share on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). This listing follows its demerger from Siemens Ltd. in April 2025. The initial market capitalization of Siemens Energy India has surged past Rs 1 lakh crore, reflecting strong investor confidence in the newly listed entity.
The demerger of Siemens Energy India from its parent company, Siemens Ltd., was effective from April 7, 2025. The ex-demerger share price of Siemens was Rs 2,450, implying a value of Rs 2,478 per share for the demerged entity, Siemens Energy India. The debut listing price of Rs 2,840 significantly exceeded this implied value, signaling robust investor interest.
Analysts have expressed optimism about Siemens Energy India's prospects, citing its strategic positioning to capitalize on India's surging power transmission and distribution (T&D) investments. Jefferies anticipates that Siemens Energy India will emerge as the largest listed pure-play power T&D equipment provider in India, boasting a market capitalization exceeding $10 billion. This would place it ahead of competitors like Hitachi and GE, which have market caps ranging from $6.8 billion to $9.6 billion.
Several brokerage firms have initiated coverage on Siemens Energy India with "Buy" ratings and ambitious price targets. Antique Broking has initiated coverage with a "Buy" rating and a target price of Rs 3,179, viewing Siemens Energy as a strong play on technology and scale, specializing in integrated products, solutions, and services across the energy value chain. HDFC Securities has also rated the stock as "Buy" with a target price of Rs 3,000, noting the company's exclusive market rights in some South Asian countries and a comprehensive product portfolio. Motilal Oswal (MOSL) has also initiated with a "Buy" rating and a target price of Rs 3,000.
Siemens Energy India is poised to benefit from the Indian government's focus on expanding and upgrading its power infrastructure. The government's award of Rs 1.5 trillion worth of T&D projects in FY25, a fourfold jump from the previous year, is expected to drive substantial growth for the company. Siemens Energy is also doubling its power transformer capacity through a Rs 460 crore capital expenditure, signaling confidence in future demand.
The company's robust order book of Rs 15,000 crore provides strong growth visibility. HDFC Securities estimates a 30% PAT CAGR for FY25-27, while Antique Broking expects an earnings CAGR of 35% over FY24–27. Jefferies projects a 40% Compound Annual Growth Rate in earnings per share for Siemens Energy over fiscals 2024-2027.
Siemens Energy has established strong infrastructure with over ten state-of-the-art factories in India, enabling it to capitalize on business opportunities in India and South Asia. The company is focused on supporting customers through the energy transition and helping them achieve decarbonisation and net-zero targets. New business lines, including PEM electrolyzers, hydrogen blend fired gas turbines, and battery storage solutions, are expected to aid long-term growth, as the parent company has developed these technologies.
While some analysts have provided target prices, Jefferies expects that Siemens Energy shares will list between Rs 2,995 and Rs 3,711 per share.
