Siemens Energy India Ltd(ENRIN)

NSE: ENRINBSE: 544390

₹ 2,782.8+1.68%refreshed 27 Oct, 10:14 am ISTMarket cap: ₹ 99,101 crWebsite: www.siemens-energy-india.comUpdated: 27 Oct 2026

About

Siemens Energy India Ltd is a pure-play energy technology company with a portfolio spanning power generation, transmission, storage, industrial electrification and decarbonization. It was formed by the demerger of the Energy Business of Siemens Limited and listed on June 19, 2025. In FY25 it reported revenue of Rs 7826.7 Cr, with Power Transmission at 53.5% and Power Generation at 46.5% of revenue.^[1][2][3]

Business segments

Power Transmission contributed ₹4,189.6 Cr (53.5% of revenue) in FY25, covering transformers, high-voltage switchgear and STATCOM grid-stabilisation equipment.^[3]
Power Generation contributed ₹3,637.1 Cr (46.5% of revenue) in FY25, covering steam turbines, gas turbines and associated service contracts.^[3]
Services revenue was ~₹20 Bn (~25.6% of FY25 revenue), drawn from installed-base maintenance of steam and industrial turbines plus switchgear and transformer aftermarket.^[4]
In H1 FY26, services contributed approximately ₹12 Bn, or 27% of total H1 FY26 revenue of ₹43 Bn.^[5]

Products and market position

Power generation offering covers gas and steam turbines, overhauls, modernization, digital control systems and lifecycle services, plus a Dual Digital Twin for power plant optimization (FY25).^[1]
For cement and steel, it supplies captive power based on industrial steam turbines and waste heat recovery, including a first-of-its-kind waste heat recovery project in ferro alloys (FY25).^[1]
The company says it delivered India's first SF6-free 145 kV circuit breaker under its 'Blue Portfolio' in FY25.^[1]
SEIL held more than 50% market share in STATCOM tenders awarded in FY25, winning about 5 of 10 units; CEA's pipeline indicates ~75 STATCOMs planned nationally.^[4]
Manufacturing know-how is licensed only from Siemens Energy (SEGG), which the company says cannot be procured from third parties.^[1]

Operations

As of FY25 the company has eight factories, six sales offices, four engineering and R&D centers and four service centers across India.^[1]
A new Raipur steam turbine service centre and a Bengaluru global engineering centre were inaugurated during FY25.^[4]
India engineering and R&D headcount stood at ~1,500 in FY25, up from ~600 - 750 in FY23.^[4]
Women made up 14.60 percent of the workforce in FY25; an all-women production line was started at the GIS factory in Chhatrapati Sambhajinagar.^[1]

Order book and inflow

FY25 order intake was ₹131.1 Bn, up 49% YoY; Power Transmission grew 76% to ₹84.3 Bn (64% of total orders).^[4]
Order backlog was ₹184.3 Bn in H1 FY26 vs ₹150.8 Bn in H1 FY25 (+22.2% YoY), with a book-to-bill of 1.5x; it was ₹162.1 Bn at end-FY25.^[5][4]
H1 FY26 order intake was ₹66.6 Bn vs ₹74.7 Bn in H1 FY25; Power Transmission orders fell from ₹52.9 Bn to ₹43.4 Bn, attributed to lumpy project finalisation.^[5]
Power Transmission order backlog grew 27.5% YoY to ₹125.2 Bn in H1 FY26, and segment revenue grew 29.7% YoY to ₹24.0 Bn.^[3]
Power Generation revenue grew 23.3% YoY to ₹19.0 Bn in H1 FY26.^[3]

Customers and exports

The company covers India, Nepal, Bhutan, Sri Lanka and the Maldives, and exports to customers within the global Siemens Energy Group (FY25).^[1]
Export share of revenue rose ~300 bps YoY to 23% in FY25, mainly from transformers.^[4]
In H1 FY26 export share rose a further ~500 bps YoY, driven by transformers for US data centre and renewable customers and GIS switchgear for Middle East offshore uses.^[5]
FY25 orders included a large transformer order from the largest semiconductor facility in the US and a large STATCOM order for grid resilience.^[1]
FY25 contracts included restoring a critical power plant for a large metropolitan area and an electrical and automation package for electric propulsion ferries.^[1]

Expansion and capex

As of Q3 FY26, the company says it has committed more than USD 300 million of capex to expand manufacturing and build a Make-in-India global hub serving India and the world.^[6]
Kalwa power transformer and Sambhajinagar high-voltage switchgear factory expansions carry a combined ₹7.4 Bn investment, both expected on track by mid-calendar 2027.^[5]
A greenfield transformer factory with approved investment of ₹20.6 Bn is being prepared for construction; site selection across multiple states was ongoing as of H1 FY26.^[5]

Strategic priorities and new products

Stated priorities in Q3 FY26: HV substations/HVDC, grid stabilisation (STATCOM, syncon, storage) and digital substations.^[6]
Management estimates India needs USD 250-300 bn of grid investment and 830 GVA+ of added transformation capacity by 2035-36 (Q3 FY26).^[6]
The first synchronous condenser order is expected to be delivered in calendar 2026, initially using imported machines pending a localisation decision.^[5]
SEIL is monitoring the nuclear steam island opportunity in India's 8 GW to 100 GW build-out, pending clarity on private participation and liability under the SHANTI Bill.^[5]
In data centres, where India power demand is expected to grow from ~1 - 1.5 GW to 5 - 8 GW, SEIL's role will be in transmission rather than captive generation.^[5]

Recent developments

The Energy Business of Siemens Limited was demerged into Siemens Energy India Limited, which listed on BSE and NSE on 19 June 2025.^[1]
No dividend was declared or paid for FY25.^[1]

Market Cap

₹99,101 Cr

High / Low

₹3,967 / 2,105

Stock P/E

63.4

Price / Book

19.6

Book Value

₹123

EPS

₹30.9

No. of Shares

35.61 Cr

ROCE

33.2%

ROE

25.1%

OPM

21.6%

Debt / Equity

0.00

Sales

₹7,827 Cr

Net Profit

₹1,100 Cr

Promoter holding

75.0%

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Siemens Energy India Ltd(ENRIN)

About

Business segments

Products and market position

Operations

Order book and inflow

Customers and exports

Expansion and capex

Strategic priorities and new products

Recent developments

Signal history

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