TrueCAGR
Siemens · Research view

Siemens Ltd.

NSE: SIEMENSBSE: 500550ISIN INE003A01024Face value ₹2consolidated
₹3,790
+1.21% · 2026-10-01 · 52-wk ₹2,849–₹4,114
Financials to FY2026 · 4 years of history · prices to 2026-10-01consolidatedstandalone
Section 02 · Synthesis

What stands out?

The strongest observations the engine found, ranked. Every line is generated from the filed numbers by a fixed rule — no opinion, no estimate.

StrengthConcernWatchContext
WatchTalking point

Profit and cash flow diverged

Reported profit rose 30.8% but operating cash flow fell 242.9% — worth investigating whether the profit is being collected.

Importance 74 / 95 · cash quality

WatchTalking point

Profit lagging revenue

Revenue grew 11.7% but profit grew 1.3%, so the company kept less of each rupee of revenue as profit.

Revenue growth+11.7%Net profit growth+1.3%

Importance 64 / 95 · growth

WatchTalking point

Growing, but light on cash

Revenue grew 11.7% but only -0.19× of reported profit came through as operating cash.

Importance 62 / 95 · cash quality

ConcernTalking point

Weak cash conversion

Operating cash flow was only -0.19× reported profit (FY2026).

Importance 61 / 95 · cash quality

Section 03 · The company

Who is this company?

Classified by the exchange under Industrials › Capital Goods › Electrical Equipment › Heavy Electrical Equipment.

Market cap
₹1.35 L cr
FY2026 revenue
₹24,846 cr
FY2026 net profit
₹2,754 cr
Net worth
₹13,851 cr
Total debt
₹0 crnet cash
EPS (basic)
₹77.34
Listed
NSE · BSE
Reporting
Ind-ASApr–Mar

Peer set used on this page: 8 heavy electrical equipment.

Section 04 · Business performance

Is the business growing?

Revenue & net profit — FY24 to FY26₹ crore · consolidated
₹'000 cr08152330023REVENUENET PROFIT20k1,962FY2422k2,718FY2517k2,106FY2625k2,754FY26
RevenueNet profit
Watch

Revenue grew 11.7% but profit grew 1.3%, so the company kept less of each rupee of revenue as profit.

Rule PROFIT_SLOWER_THAN_REVENUE

Revenue growth per year
+8.3%over 3 years
Revenue growth
+11.7%vs last year
Net profit growth
+1.3%vs last year
Change in net profit since FY24
+40%
Section 05 · Recent activity

What changed recently?

Quarterly results, the trailing-twelve-months snapshot, and verified corporate actions — kept separate from each other and from the annual story above. Every figure traces to a filed number; nothing here is external news or commentary.

Strength

Q1 FY27 net profit of ₹2,143 cr is the highest of the 12 quarters on record for this company.

Rule QTR_PROFIT_AT_RECORD

Strength

Q1 FY27 net profit was ₹2,143 cr, up 478.6% from ₹370 cr in the previous quarter (Q4 FY26).

Rule QTR_PROFIT_SEQUENTIAL_CHANGE

A. Quarterly results

Latest quarters — Q3 '24 to Q1 '27₹ crore · consolidated
₹'000 cr02457023REVENUENET PROFIT5k456Q3 '246k572Q4 '244k615Q1 '254k583Q2 '256k831Q4 '254k278Q3 '265k370Q4 '265k2,143Q1 '27
RevenueNet profit
QuarterRevenueYoYNet profitYoYNet margin
Q3 FY244,873—456—9.4%
Q4 FY245,808—572—9.8%
Q1 FY253,587−25.7%615+21.5%17.1%
Q2 FY25·d4,259−25.9%583−27.5%13.7%
Q4 FY256,461+11.3%831+45.4%12.9%
Q3 FY263,831—278—7.3%
Q4 FY264,618−28.5%370−55.4%8.0%
Q1 FY274,714—2,143—45.5%

·d = derived by differencing year-to-date filings (Q2–Q4 aren't filed stand-alone).

C. Corporate actions

29 Jul 2026DividendFinal Dividend - Rs. - 18.0000 — ₹18.00/share
7 Apr 2025DemergerSpin Off
30 Jan 2025DividendDividend - Rs. - 12.0000 — ₹12.00/share
30 Jan 2024DividendFinal Dividend - Rs. - 10.0000 — ₹10.00/share
31 Jan 2023DividendFinal Dividend - Rs. - 10.0000 — ₹10.00/share
20 Jan 2022DividendFinal Dividend - Rs. - 8.0000 — ₹8.00/share
27 Jan 2021DividendFinal Dividend - Rs. - 7.0000 — ₹7.00/share
3 Feb 2020DividendDividend - Rs. - 7.0000 — ₹7.00/share
28 Jan 2019DividendDividend - Rs. - 7.0000 — ₹7.00/share
25 Jan 2018DividendDividend - Rs. - 7.0000 — ₹7.00/share
31 Jan 2017DividendDividend - Rs. - 6.0000 — ₹6.00/share
12 Aug 2016DividendInterim Dividend - Rs. - 27.5000 — ₹27.50/share
21 Jan 2016DividendSpecial Dividend - Rs. - 4.0000 — ₹4.00/share
21 Jan 2016DividendDividend - Rs. - 6.0000 — ₹6.00/share
14 Jan 2015DividendDividend - Rs. - 6.0000 — ₹6.00/share
15 Jan 2014DividendDividend - Rs. - 5.0000 — ₹5.00/share
16 Jan 2013DividendDividend - Rs. - 6.0000 — ₹6.00/share
16 Jan 2012DividendDividend - Rs. - 6.0000 — ₹6.00/share
18 Jan 2011DividendDividend - Rs. - 5.0000 — ₹5.00/share
19 Jan 2010DividendDividend - Rs. - 5.0000 — ₹5.00/share
14 Jan 2009DividendDividend - Rs. - 3.0000 — ₹3.00/share
29 Feb 2008Bonus issueBonus issue 1:1 — 1:2
14 Jan 2008DividendDividend - Rs. - 4.8000 — ₹4.80/share
13 Jun 2006Otherother
11 Dec 2001DividendDividend - Rs. - 4.0000 — ₹4.00/share
Section 06 · Business performance

Is it becoming more profitable?

Margins — FY24 to FY26% of revenue · consolidated
0%5%10%15%20%14.4%10.8%FY24FY25FY26FY26
EBITDA marginNet margin
Strength

ROE improved from 14.7% to 18.9% year on year.

Rule ROE_IMPROVED_YOY

EBITDA margin now
14.4%
4-year range
14.4–18.1%
ROE FY2026
18.9%
ROCE FY2026
21.6%
Section 07 · Financial health

Is financial health improving?

Net worth — FY24 to FY26₹ crore · consolidated
₹'000 crtotal debt ≈ ₹0 across the history07132013kFY2415kFY2513kFY2614kFY26
Net worth (shareholders' funds)
Watch

Reported profit rose 30.8% but operating cash flow fell 242.9% — worth investigating whether the profit is being collected.

Rule PROFIT_UP_CASH_DOWN

Operating cash flow vs net profit₹ crore · FY24–FY26
0k1k2k3k1k2kFY242k3kFY253752kFY26-5353kFY26
Operating cash flowNet profit
Total debt
₹0 crnet cash
Operating cash flow ÷ net profit
-0.19×FY2026
Free cash flow
₹−1,080 cr
Current ratio
2.57×

Revenue grew 11.7% but only -0.19× of reported profit came through as operating cash.

Operating cash flow was only -0.19× reported profit (FY2026).

Section 08 · Relative position

How does it compare with peers?

Ranked against 8 heavy electrical equipment (FY2026, consolidated).

Revenue growth

SIEMENS · 6th of 6 · set median 26.5%

SUZLON53.6%GVT&D44.6%POWERINDIA27.6%CGPOWER25.3%BHEL19.2%SIEMENS11.7%

EBITDA margin

SIEMENS · 7th of 8 · set median 18.2%

GVT&D28.6%ENRIN20.7%SUZLON18.7%POWERINDIA18.3%ABB18.1%CGPOWER15.1%SIEMENS14.4%BHEL9.3%

Return on equity

SIEMENS · 7th of 8 · set median 21.2%

GVT&D55.3%SUZLON40.6%ENRIN25.1%ABB21.3%POWERINDIA21.0%CGPOWER19.6%SIEMENS18.9%BHEL6.3%

P/E ratio

SIEMENS · 2nd of 8 · set median 85.4×

SUZLON17.0×SIEMENS49.0×BHEL60.4×GVT&D83.8×ABB87.1×ENRIN107.8×CGPOWER111.3×POWERINDIA121.0×
Context

Trades at 48.99× earnings — 43% below the heavy electrical equipment median of 85.42×.

Rule PE_BELOW_PEERS

P / E
49.0×FY2026
P / B
9.7×latest book
P / S
5.3×FY2026
Earnings yield
2.0%FY2026
Section 09 · The stock

How has the stock performed?

Adjusted close — 2020-01 to 2026-10₹ per share · split / bonus adjusted
0k4k8k₹3,7902020202120222023202420252026
Context

Over 3 years profit compounded at 12.0% a year while the stock returned 1.1% a year.

Rule STOCK_LAGGED_EARNINGS

Business vs stock — 5-year compound annual rate
Net profit12.0%/yrShare price1.1%/yr
1-year return
+21.4%
3-year return
+3.2%
5-year return
+76.4%
From 52-wk high
−7.9%
Section 10 · Technical data

What does the technical data say?

Price-action indicators as of 2026-10-01. Secondary to the fundamentals above — included for timing context, not as a signal.

vs 50-day avg
Below₹3,892
vs 200-day avg
Above₹3,497
RSI (14)
41.5neutral
MACD histogram
-20.4
From 52-wk high
−7.9%
From 52-wk low
+33.0%
30-day volatility
24.6%ann.
6-month return
+26.3%
RSI (14) · 0–10041.5 — neutral
0305070100OVERSOLDOVERBOUGHT41.5
Section 11 · Open questions

What should I investigate further?

Observations the engine tagged watch or deteriorating — prompts for your own research, not conclusions.

  • Watch
    Profit and cash flow diverged
    Reported profit rose 30.8% but operating cash flow fell 242.9% — worth investigating whether the profit is being collected.
    PROFIT_UP_CASH_DOWN · conviction 74
  • Watch
    Profit lagging revenue
    Revenue grew 11.7% but profit grew 1.3%, so the company kept less of each rupee of revenue as profit.
    PROFIT_SLOWER_THAN_REVENUE · conviction 64
  • Watch
    Growing, but light on cash
    Revenue grew 11.7% but only -0.19× of reported profit came through as operating cash.
    GROWTH_WITH_WEAK_CASH · conviction 62
  • Concern
    Weak cash conversion
    Operating cash flow was only -0.19× reported profit (FY2026).
    WEAK_CASH_CONVERSION · conviction 61
  • Only 4 annual year(s) of financials loaded — multi-year trend analysis is limited.
Section 12 · Reference

The numbers

The full statements, kept deliberately secondary. Every figure traces to a BSE Integrated Filing (inline XBRL); ratios are recomputed from the normalised facts.

Income & balance sheet — ₹ crore, consolidated
MetricFY24FY25FY26FY26
Revenue19,55422,24017,36424,846
Total income20,05023,16517,93525,599
EBITDA2,9834,0292,5773,577
Profit before tax2,6403,6392,2823,054
Net profit1,9622,7182,1062,754
EPS (₹)55.176.359.177.3
Net worth13,09615,36613,23813,851
Total debt0000
Operating cash flow1,4001,670375−535
Free cash flow1,2461,5672−1,080
Key ratios — consolidated
RatioFY24FY25FY26FY26
Growth
Revenue growth YoY—13.711.711.7
Profit growth YoY—38.51.31.3
Profitability
EBITDA margin %15.318.114.414.4
Net margin %9.811.710.810.8
Return on equity %15.019.118.918.9
Return on capital %20.326.021.621.6
Leverage & cash
Debt to equity0.000.000.000.00
Cash flow ÷ profit0.710.61-0.19-0.19
Current ratio2.082.262.572.57
Financials: BSE Integrated Filing inline XBRL (SEBI taxonomy), normalised to standard metric keys. Prices: NSE end-of-day, raw OHLC preserved; a corporate-action factor produces the adjusted series. The insight engine writes factual observations from fixed rules — it does not make recommendations. Not investment advice.