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Key highlights of recently attended Analyst meet of Siemens ltd (Siemens).

News: We recently attended Analyst meet of Siemens ltd (Siemens). The order opportunity pipeline remains healthy across segments with Solar, Statcoms, power evacuation, GIS substations, Waste Heat Recovery (WHR) plants from private customers in steel, cement, Chemical, Fertilizers, F&B, Pharma etc. In smart infrastructure and digitisation, lot of traction is seen in data centres, hospitals, building management systems, low voltage products, primarily led by short cycle products with robust visible opportunity pipeline across domestic and international markets. Revenue growth in FY21 was aided by short cycle products business (Smart Infrastructure and Digital Industries) primarily driven by private customers. Exports business contributed 21.5% for FY21. For FY21, it was able to control on discretionary expenses amid increased raw material and logistics costs. While order backlog stands healthy at Rs. 13520 crore

Views: Siemens delivered decent performance despite pandemic challenges and higher commodity costs. Smart Infrastructure and Digital Industries segments recorded strong growth over 2020 levels. Decent order inflows further strengthened the already healthy order backlog. Overall, Siemens is expected to further strengthen its leadership position through further penetration of automation and digitisation products & services across segments.

Impact: Positive