Siemens Ltd shares rallied 3.85% on the BSE on Friday, closing at ₹3,555.00 after the industrial engineering giant reported a top-line expansion fueled by heavy public infrastructure and private capital spending. Revenue climbed 17% year-on-year to ₹5,734 crore for the July-September 2026 quarter, up from ₹4,900 crore in the prior-year period. Net profit edged up 3.9% to ₹504 crore against ₹485 crore a year ago. The stock gained ₹131.95 on the day.
But profitability told a tighter story. Earnings before interest, tax, depreciation, and amortisation (EBITDA) crept up just 2.8% to ₹626 crore from ₹609 crore. Higher input expenses took an immediate toll on operating leverage. Consequently, EBITDA margins compressed by 150 basis points, dropping to 10.9% from 12.4% in the year-ago period. Profit from operations stood at 9.5%.
| Metric | July-Sept 2026 | July-Sept 2025 | YoY Change (%) |
|---|---|---|---|
| Revenue | ₹5,734 crore | ₹4,900 crore | +17.0% |
| EBITDA | ₹626 crore | ₹609 crore | +2.8% |
| EBITDA Margin | 10.9% | 12.4% | -150 bps |
| Net Profit (PAT) | ₹504 crore | ₹485 crore | +3.9% |
| New Orders | ₹6,228 crore | ₹4,519 crore | +37.8% |
New business flowed in rapidly. Order intake leaped 37.8% year-on-year to ₹6,228 crore during the quarter, reflecting aggressive contract awards across power transmission, transport, and factory automation pipelines. The total order backlog widened 12% to ₹47,034 crore, offering multi-year revenue visibility for the Mumbai-headquartered unit.
Executive leadership acknowledged the dual reality of accelerated demand and cost pressures. "Siemens Limited delivered strong growth in both orders and revenue, driven by continued capex spending in infrastructure and an increase in private sector capex," said Sunil Mathur, Managing Director and Chief Executive Officer of Siemens Limited. "Profitability continues to be impacted mainly by volatility in commodity prices and foreign exchange, resulting in higher material costs."
Private capital expenditure continues to pick up steam alongside central transport outlays, but management faces an uphill battle to protect unit margins as currency movements and raw metal costs churn through execution cycles.