Archive · 18 Nov 2025
ABB India, Siemens Q2 Earnings: Justifying 'Frothy' Valuations
Three big engineering companies - ABB India, Siemens, and L&T - have released their Q2 earnings.
While their revenues grew, net profits fell for ABB India and Siemens due to higher costs and lower other income.
L&T managed to grow its net profit despite higher raw material costs.
Investors are hoping for a capex revival and government infrastructure programs to boost these companies' future performance, but their current valuations are quite high.
ABB India's revenue grew 13.7% YoY, net profit fell 7% due to higher costs
Siemens' revenue grew 16% YoY, net profit fell 7% due to lower other income
L&T's revenue grew 10.5% YoY, net profit grew 14% despite higher raw material costs
ABB India trades at 60x P/E, Siemens at 67x, L&T at 34x
Investors await capex revival and government infrastructure programs
- Who
- ABB India, Siemens, and L&T
- What
- Released Q2 earnings
- When
- Q2 FY26 (September 2025 quarter)
- Where
- India
- Why
- To report financial performance and update investors
Bullish on Engineering Stocks
Cautious on High Valuations
Growth Prospects
Bullish on Engineering Stocks
Bright expectations of capex revival and government infrastructure programs
Cautious on High Valuations
High valuations may not be justified if growth slows or capex revival is delayed
Current Performance
Bullish on Engineering Stocks
Revenue growth for all three companies in Q2
Cautious on High Valuations
Net profit decline for ABB India and Siemens due to higher costs and lower other income
- ABB India P/E
- 60x
- Siemens P/E
- 67x
- L&T P/E
- 34x
- ABB India RoE
- 28.8%
- Siemens RoE
- 11.8%
- L&T RoE
- 16.6%
- ABB India Q2 Revenue Growth
- 13.7% YoY
- Siemens Q2 Revenue Growth
- 16% YoY
- L&T Q2 Revenue Growth
- 10.5% YoY
- ABB India Q2 Net Profit Change
- -7% YoY
- Siemens Q2 Net Profit Change
- -7% YoY
- L&T Q2 Net Profit Change
- 14% YoY