Siemens Energy India is making its debut on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Thursday, July 19. This is a big deal for investors, especially since the company has just been spun off from its parent, Siemens Ltd. Everyone is curious—what’s the stock really worth, and how does it compare to other big names in the power sector?
Let’s start with what the experts are saying. Big brokerages like Motilal Oswal (MOFSL), HDFC Securities, and Jefferies have all weighed in. Most expect the share price to settle somewhere between ₹3,000 and ₹3,350, though some are even more optimistic and think it could go higher.
Motilal Oswal, for example, has set a price target of ₹3,000. They’re looking at a price-to-earnings (P/E) ratio of 60 times, based on their forecasts for September 2027. For context, that’s less than Hitachi Energy, which trades at a P/E of 74, but a bit more than GE Vernova T&D, which is at 58. So, Siemens Energy India is right in the middle of the pack when it comes to valuation.
What’s really interesting is that Siemens Energy India could end up being the biggest listed pure-play power transmission and distribution company in the country. Jefferies thinks its market cap could cross $10 billion, putting it ahead of both Hitachi Energy and GE Vernova T&D, which are valued between $6.8 and $9.6 billion.
Why is this happening? Well, Siemens Energy India is one of the few companies in India that can handle high-voltage projects up to 765kV. That’s a big deal, because India is pumping a lot of money into its power infrastructure. There are more and more big projects coming up, and Siemens is well positioned to grab a big slice of those.
A few years ago, Siemens was a bit choosy about which projects it took on. But now, with so much work available and their strong technology, they’re likely to be much more active. The government is also planning to invest heavily in improving the country’s transmission systems, which could mean even more business for Siemens.
HDFC Securities is also bullish on Siemens Energy India. They point out that the company isn’t just about traditional power—it’s also involved in decarbonisation, clean energy, green hydrogen, battery storage, and advanced grid automation. This broad portfolio makes it stand out from its competitors.
Right now, Siemens Energy India has an order book of ₹15,000 crore—that’s more than double what they expect to earn in revenue this year. This gives them a lot of visibility into future growth. HDFC expects profits to grow at about 30% a year from FY25 to FY27. With strong cash flow, a big backlog of orders, limited competition, and opportunities to expand into exports, HDFC has given the stock a “buy” rating and set a target price of ₹3,000.
As for the rest of Siemens India—the part that isn’t focused on energy—Jefferies has a target price of ₹3,700 per share. They’re valuing this segment at a P/E of 55 for March 2027, which is similar to how other big industrial companies like ABB have been valued.
There are, of course, some risks. Costs could go up, and there’s always the chance that spending on big projects might slow down. But overall, the outlook is positive.
To sum it up: Siemens Energy India is about to become a major player in India’s power sector, with strong growth prospects and a lot of momentum behind it. Whether you’re an investor or just someone interested in the energy market, this is definitely a company to watch.
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