Siemens Shows Strong Operational Performance
Siemens India 4QFY20 performance was above expectations, with a 7% beat on the topline and 54% on operating profit v/s our estimates. This clearly indicates faster-than-anticipated demand recovery. A favourable mix of the Services business, the execution of high-margin orders, and the sustenance of cost-cutting measures during the lockdown were some of the key parameters that led to higher operating profitability and margin expansion. With order inflows up 9% YoY in 4QFY20, management highlighted green shoots in end markets such as Pharmaceuticals, Food and Beverages, and Power T&D. Other verticals such as Cement (waste heat recovery), Buildings, Data Centers, and Refinery Infrastructure are also seeing ordering activity.
Tags : ALLIED Cement Buildings Siemens India Data Centers Refinery Infrastructure