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Prabhudas Lilladher Report
Siemens Ltd. reported strong quarterly performance with consolidated revenue up ~17.4% YoY and Ebitda margin expanding by 441 basis points YoY to 14.9%, led by higher volumes, better price extraction, softening commodity prices and healthy contribution from subsidiaries.
We believe that segments such as data center, e-commerce, waste heat recovery, smart infra, digitalisation, automation, intralogistics, building automation, railway electrification, charging infrastructure, decarbonization, smart metering, smart grids etc. would be key growth drivers going ahead.
Moreover, recent large order win in railways for 1,200 electric motive (9000 horse power), worth Rs 260 billion will augur well in long run.
We remain positive on Siemens from a long-term perspective given-
its strong and diversified presence across industries,
focus on digitisation and automation products,
strong balance sheet,
healthy public and private capex,
focus on cost efficiencies and
recent large order wins in mobility business.
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