Siemens stock gains on winning order from Indian Railways

Broking house Prabhudas Lilladher believes that, this order win will boost Siemens Motion business revenue growth going forward.

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Shares of Siemens rose 3 percent in the early trade on January 17 after company bagged an order from the ministry of railways to manufacture electric freight locomotives.

Siemens has received an order for 1,200 locomotives of 9000 horsepower (HP) from Indian Railways, marking the single largest locomotive order in the history of Siemens Mobility and single largest order in the history of Siemens in India, company said in its release.

The company will design, manufacture, commission and test the locomotives.

The contract has a total value of Rs 26,000 crore (approximately), excluding taxes and price variation.

Deliveries are planned over an eleven-year period, and the contract includes 35 years of full service maintenance.

The locomotives will be assembled in the Indian Railways factory in Dahod, Gujarat.

Maintenance will be performed in four Indian Railways depots located in Vishakhapatnam, Raipur, Kharagpur and Pune. Locomotive assembly and maintenance will be implemented together with the staff of Indian Railways, company added.

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Broking house Prabhudas Lilladher believes that, this order win will boost Siemens Motion business revenue growth going forward.

It remain positive on the company from a long-term perspective given its 1) strong and diversified presence across industries, 2) focus on digitization and automation products, 3) product localization and 4) healthy balance sheet.

The stock is currently trading at PE of 61.4x/52.1x/45x SY23E/24E/25E earnings.

Prabhudas Lilladher has ‘Accumulate’ rating on stock with Target Price of Rs 3,290, valuing it at PE of 54x Mar’25.

At 09:16 hrs Siemens was quoting at Rs 3,032.60, up Rs 89.00, or 3.02 percent on the BSE.