| In a report released today, the brokerage said: "Siemens' current order book of Rs 110.4bn is up 44.7% from the start of the quarter. The order inflow momentum has been healthy during the quarter, with the largest order received worth Rs 36bn (total size: Rs 40bn, Rs 4bn to Siemens AG, Germany) from Qatar Electricity and Water Corporation. |
| "We have revised our estimates and now estimate a much higher topline growth for the company, however operating margins are expected to be lower. We estimate consolidated earnings of Rs 34.7 and Rs 49.7 for FY07E and FY08E respectively. |
| "At the current market price of Rs 1,216, the stock trades at 35.1x FY07E and 24.4x FY08E. It is available at 22.1x and 14.7x FY07E and FY08E EV/EBIDTA, respectively. We maintain our market performer rating." |
| Click here for the complete report |
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