Siemens Energy India Share: Profit **35%** Bhaga, Par Valuation Dekh Ke Investors Bole 'Kya Karein?'

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AuthorAnanya Iyer|Published at:
Siemens Energy India Share: Profit **35%** Bhaga, Par Valuation Dekh Ke Investors Bole 'Kya Karein?'
Overview

Siemens Energy India ne apna Q3 FY26 ka result nikala hai aur numbers toh bade kamaal ke hain. Profit **35%** badh gaya aur company capacity bhi badha rahi hai. Lekin, stock ka valuation ekdum sky-high ho gaya hai, jo investors ko thoda sochne par majboor kar raha hai.

Dekho bhai, Siemens Energy India ne Q3 FY26 mein kamaal kar diya. Unka profit 35% salaana adhaar par badh kar ₹312.90 Crore ho gaya. Revenue bhi 26% badh ke ₹1910.90 Crore tak pahunch gaya. Yaani, company ki performance ekdum top-notch rahi hai, aur unhone EBITDA margins ko bhi 26.7% tak pahuncha diya. Iske saath hi, company power transformer ki capacity ko double karne ka plan bana rahi hai, seedha 60,000 MVA tak. Ye sab dikhata hai ki company ko future mein energy transition se bohot demand ki ummeed hai.

Par ab aata hai asali sawal. Itna sab accha hone ke baad bhi, stock ka valuation ekdum out of control ho gaya hai. Agar aap iska P/E ratio dekho, toh ye pichhle 12 mahine ki earnings par 80x se bhi zyada chal raha hai (lagbhag 81.7 se 84.5 times). Ye toh ABB India (jiska 67.5-72.5 times) aur KEC International (jiska sirf 23.56 to 45.60 times) jaise competitors se bohot zyada hai. Ye stock pichhle ek mahine mein hi lagbhag 19-21% bhag gaya hai, jisse valuation aur bhi stretched ho gaya hai.

Market toh energy transition ke naam par pesa daal raha hai, India mein 2050 tak is sector mein ₹7 Trillion ka investment hone wala hai. Power transformer market bhi 7.1% se 10.84% CAGR se badh sakta hai. Lekin itna high valuation sustain karna mushkil hai. Motilal Oswal ne bhi target ₹3,600 ka diya hai, par unhone commodity prices (jaise copper, aluminium) ka risk bhi bataya hai jo margins ko kha sakte hain. Competition bhi tight hai, jaise recent VSC HVDC project ek competitor ko mila, Siemens Energy ko nahi. Dusre bade players BHEL, CG Power, GE T&D India, Toshiba bhi hain.

Kuch brokerages jaise Motilal Oswal 'BUY' rating de rahe hain, lekin overall consensus 'Hold' ka hai aur target price lagbhag ₹3,280 ke aas paas hai. Ab ye dekhna hoga ki company apne expansion plans kaise execute karti hai, margins kaise maintain rakhti hai, aur future projects kaise jeetti hai. Zyada rally aur high valuation ke baad ab yahan mistake ki koi jagah nahi bachi hai.

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