Whalesbook
Leading engineering companies ABB India and Siemens reported a 7% dip in their consolidated net profits for the September 2025 quarter, despite revenue growth. ABB India's revenue rose 13.7% and Siemens' 16%, but higher costs and lower other income impacted profits. Both companies trade at very high P/E ratios, over 60 times. In contrast, domestic leader Larsen & Toubro saw its revenue grow 10.5% and net profit climb 14%, while trading at a more moderate P/E of 34 times. The sector anticipates strong growth from capital expenditure revival, but high valuations for MNC players raise concerns for investors.