Siemens Limited’s orders rose nearly 38% in the July-September quarter, but profit from operations declined and its margin narrowed, leaving backlog growth set against higher costs.
The company reported new orders of ₹6,228 crore, up from ₹4,519 crore a year earlier, and a 12% increase in its backlog to ₹47,034 crore. Revenue from operations increased 17% to ₹5,734 crore from ₹4,900 crore. Siemens said in its Nov. 6 results release that the period ended Sept. 30, 2026, and was the second quarter of fiscal 2027.
Profit from operations fell to ₹545 crore from ₹561 crore, and the margin on that measure narrowed to 9.5% from 11.4%. Profit after tax from continuing operations rose to ₹504 crore from ₹481 crore. That comparison differs from the ₹485 crore total prior-year profit cited by NDTV Profit, which included discontinued operations.
Managing Director and Chief Executive Officer Sunil Mathur linked the stronger figures to infrastructure investment and increased capital spending by private companies. He said swings in commodity prices and foreign exchange raised material costs and weighed on profitability.
In its brokerage roundup, NDTV Profit reported that UBS had a Buy rating with a ₹4,850 target price. CLSA and Nomura were Neutral and each raised its target to ₹3,944 from ₹3,757. Citi and Macquarie were Neutral, at ₹3,875 and ₹3,650, respectively, while HSBC had a Hold rating with a ₹3,670 target.
NDTV Profit also reported that CLSA and Nomura saw revenue 8% above consensus and EBITDA 17% above consensus. Its roundup described the backlog as supporting revenue visibility and cited data centers, renewables and industrial electrification as possible sources of orders. The outlet also identified cost pressures as a risk to margins.
Taken together, the company’s figures pair stronger orders and backlog with lower profit from operations. Orders increased 37.8%, compared with 17% growth in revenue, while profit from operations fell about 3%.
