Brokerage Sets High Target for Siemens Energy India Amid Recent Stock Dip

Domestic brokerage house Deven Choksey Research has started coverage on Siemens Energy India with a buy rating and a target price of 4,554 rupees, pointing to a possible 72 percent jump from its last close of 2,649 rupees.

Market Standing and Recent Dips

The stock closed 4.4 percent lower at 2,649 rupees on Friday, October 23. It has dropped roughly 10 percent in one week, and nearly 20 percent over the past one month and three months. The shares have lost 15 percent over the last year. Earlier, the stock reached a 52-week high of 3,966.80 rupees in May 2026 and a 52-week low of 2,105.15 rupees in January 2026.

Growth Drivers and Market Share

The brokerage bases its positive view on India's rising transmission spending, growing electricity demand, and the integration of renewable energy. The Central Electricity Authority has a roadmap for 900 gigawatts of non-fossil fuel capacity, needing about 7.93 lakh crore rupees in transmission spending between fiscal year 2026 and fiscal year 2036. Siemens Energy India holds about a 30 percent share in the high-voltage direct current transmission segment and over 50 percent share in the STATCOM grid-stability market. In power generation, the firm has an estimated 55 percent share in steam turbines and about 25 percent of the gas-turbine fleet.

Financial Projections and Risks

Deven Choksey Research expects the company to achieve compound annual growth rates of 25 percent in revenue, 33 percent in EBITDA, and 35 percent in profit after tax over the next three years. Estimated revenue is projected to grow from 78,267 million rupees in fiscal year 2026 to 154,529 million rupees in fiscal year 2028. The company's order book stood at 193 billion rupees as of the third quarter of fiscal year 2026 and is expected to reach 271 billion rupees by fiscal year 2028. However, the brokerage warned that raw material price swings, currency changes, project delays, and pricing pressure could impact growth.

Context

Brokerage firms frequently issue coverage reports with target prices to guide investors on a company's long-term potential based on sector trends and financial models. Power equipment makers in India are currently seeing increased focus due to the massive infrastructure upgrades required to support renewable energy expansion.