AgenciesPrabhudas Lilladher has accumulate call on Siemens with a target price of Rs 2815. The current market price of . is Rs 2642.6. Time period given by analyst is one year when Ltd. price can reach defined target.
Siemens Ltd., incorporated in the year 1957, is a Large Cap company (having a market cap of Rs 93736.19 Crore) operating in Engineering sector.
Siemens Ltd. key Products/Revenue Segments include Engineering Goods, Income from Project Development, Sale of services, Other Operating Revenue, Rental Income, Export Incentives and Commission for the year ending 30-Sep-2021.
Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 4337.00 Crore, up 7.85 % from last quarter Total Income of Rs 4021.50 Crore and up 45.33 % from last year same quarter Total Income of Rs 2984.20 Crore. Company reported net profit after tax of Rs 300.70 Crore in latest quarter.
Investment Rationale
The brokerage remains positive on SIEM from a long-term perspective given its 1) strong and diversified presence across industries, 2) focus on digitization and automation products, 3) product localization, 4) healthy balance sheet and 5) high cash flow. With strong order book and enquiry pipeline, it expects SIEM to report revenue/PAT CAGR of 15.5%/23.2% between SY21-SY24E. The stock is currently trading at PE of 75.1x/57.6x/48.3x SY22E/23E/24E earnings. It rolls forward TP to SY24E EPS and revise it to Rs2,815 (Rs2,602 earlier) valuing it at 52x SY24E EPS. Maintain ‘Accumulate’ rating.
Promoter/FII Holdings
Promoters held 75.0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 5.42 per cent, DIIs 9.64 per cent.
Siemens Ltd., incorporated in the year 1957, is a Large Cap company (having a market cap of Rs 93736.19 Crore) operating in Engineering sector.
Siemens Ltd. key Products/Revenue Segments include Engineering Goods, Income from Project Development, Sale of services, Other Operating Revenue, Rental Income, Export Incentives and Commission for the year ending 30-Sep-2021.
Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 4337.00 Crore, up 7.85 % from last quarter Total Income of Rs 4021.50 Crore and up 45.33 % from last year same quarter Total Income of Rs 2984.20 Crore. Company reported net profit after tax of Rs 300.70 Crore in latest quarter.
Investment Rationale
The brokerage remains positive on SIEM from a long-term perspective given its 1) strong and diversified presence across industries, 2) focus on digitization and automation products, 3) product localization, 4) healthy balance sheet and 5) high cash flow. With strong order book and enquiry pipeline, it expects SIEM to report revenue/PAT CAGR of 15.5%/23.2% between SY21-SY24E. The stock is currently trading at PE of 75.1x/57.6x/48.3x SY22E/23E/24E earnings. It rolls forward TP to SY24E EPS and revise it to Rs2,815 (Rs2,602 earlier) valuing it at 52x SY24E EPS. Maintain ‘Accumulate’ rating.
Promoter/FII Holdings
Promoters held 75.0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 5.42 per cent, DIIs 9.64 per cent.
(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
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