Siemens Q2 Review - Healthy Margins With Growth Recovery: ICICI Securities
A worker wears a branded safety overall on the production line at the Siemens. (Photographer: Akos Stiller/Bloomberg)

Siemens Q2 Review - Healthy Margins With Growth Recovery: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Siemens Ltd.’s Q2 FY21 earnings were supported by strong recovery in execution (up 28% YoY) and strong operating margins (13.2% Ebitda margin) in January-March quarter (Q2 FY21).

Despite macro headwinds, order intake grew 17% YoY to Rs 33 billion during the quarter and the orderbook remained strong at Rs 127 billion, lending growth visibility.

Going ahead, the impact of second Covid-19 wave on operations is uncertain; however, we expect increased activity in certain segments like pharma, data centres, food and beverages, etc.

Private sector is increasingly investing in automation and efficiency-related solutions.

Click on the attachment to read the full report:

ICICI Securities Siemens Q2FY21 Results Update.pdf


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