Accumulate Siemens, target price Rs 3290: Prabhudas Lilladher

Prabhudas Lilladher has accumulate call on Siemens with a target price of Rs 3290. The current market price of Siemens is Rs 3021.95.

Siemens, incorporated in the year 1957, is a Large Cap company (having a market cap of Rs 107532.29 Crore) operating in Engineering sector.

Siemens 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 30-09-2022, the company has reported a Consolidated Total Income of Rs 4759.90 Crore, up 9.75 % from last quarter Total Income of Rs 4337.00 Crore and up 9.21 % from last year same quarter Total Income of Rs 4358.30 Crore. Company has reported net profit after tax of Rs 652.30 Crore in latest quarter.

The company’s top management includes Mr.Deepak S Parekh, Mr.Sunil Mathur, Mr.Daniel Spindler, Mr.Johannes Apitzsch, Mr.Tim Holt, Mr.Matthias Rebellius, Ms.Anjali Bansal, Mr.Mehernosh B Kapadia, Mr.Willem Rudolf Basson. Company has B S R & Co. LLP as its auditors. As on 30-09-2022, the company has a total of 36 Crore shares outstanding.

Investment Rationale
The brokerage remains positive on Siemens from a long-term perspective given its strong and diversified presence across industries; focus on product localization; solid balance sheet; and high cash flow. Considering healthy public & private demand outlook, focus on cost efficiencies and expected large orders in mobility segment, Prabhudas Lilladher expects revenue/PAT CAGR of 14.8%/22.6% from SY22-SY25E.

Promoter/FII Holdings
Promoters held 75.0 per cent stake in the company as of 30-Sep-2022, while FIIs owned 5.42 per cent, DIIs 9.5 per cent.