Siemens Limited — PPTs, 20-05-2025: Investor Presentation

1. Financial Highlights:

Siemens Limited posted revenue of INR 42.6 billion in Q2 FY25, up 2.6% YoY, driven by a 43.5% jump in new orders to INR 53.1 billion and a 7.2% rise in order backlog to INR 414.6 billion. EBITDA fell 17.2% YoY to INR 5.3 billion, with margins declining 289 bps to 12.4%, due to higher material costs and cost normalization. PAT stood at INR 4.1 billion (9.6% margin), impacted by a strong base last year and demerger-related expenses. Half-year revenue was flat at INR 78.5 billion, with EBITDA margin down 180 bps reflecting ongoing cost pressures.

2. Strategic Initiatives & Growth Drivers:

Focus remains on sectors driven by public capex and emerging verticals such as electronics, semiconductors, batteries, and data centers. Capex investments continue in power equipment including Vacuum Interrupters and Gas Insulated Switchgear. Smart Infrastructure benefits from strong electrification and automation demand, while Mobility sees robust orders fueled by propulsion equipment and metro projects in Asia.

3. Business Developments:

Mobility posted a remarkable 379% increase in new orders, highlighting a strong project pipeline. Digital Industries is working through inventory normalization with modest order growth but faces margin pressure from product mix and material costs. Low Voltage Motors encounter weak demand and price pressure; strategic options are being evaluated for this segment.

4. Market Position & Competitive Advantage:

Siemens maintains leadership with scale and technology depth across electrification, automation, and mobility. Strong export orders and a healthy book-to-bill (~1.25x) support its competitive edge amid moderate domestic demand and global uncertainties.

5. Investor Implications:

Stable top-line growth backed by strong order inflows and focused capex sectors underpins positive growth potential. Margin pressures and normalization in certain segments pose execution risks. The robust Mobility and Smart Infrastructure pipelines are key drivers to watch, alongside margin recovery and strategic portfolio moves.