Siemens - Decent Performance, Margins Impacted: ICICI Direct
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ICICI Direct Report
Siemens Ltd. is a leader in technology solutions for smart, intelligent, building technologies, mobility, digital industries and power transmisson and distribution.
It operates mainly in five key segments including energy, gas and power (34%), smart infrastructure (33%), digital industries (22%), mobility (7%). Well placed to gain from the overall energy market transformation from electrification to automation & digitisation.
Siemens reported decent Q4 FY21 results amid disruptions.
Key triggers for future price performance:
Strong focus on technology leadership in digitisation and automation products to further strengthen its market share.
Strong demand for short cycle products with clear traction form steel, cement, chemical, pharma, fertiliser industries to drive strong growth and margin expansion in smart infrastructure and digital industries segments.
We expect revenue, Ebitda to grow at compound annual growth rate of ~11%, 16.4%, respectively, in FY21-23E owing to strong traction in short cycle products and service.
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