U96.SI
SGX50SESSembcorp Industries Ltd
Utilities · Utilities - Diversified · Singapore
Sembcorp Industries Ltd, an investment holding company, engages in providing industrial and urban solutions in Singapore, China, India, Vietnam, the UK, Oman, Rest of Middle East and Rest of Asia, and internationally. The company operates through five segments: Gas and Related Services, Renewables, Integrated Urban Solutions, Decarbonisation Solutions, and Other Businesses and Corporate. The Gas and Related Service segment engages in the sale of energy molecules, including natural gas, steam, and electricity from various fossil fuels, such as natural gas; and water products. The Renewables segment provides electricity from solar and wind resources and energy storage solutions, as well as system services that support integration of renewables into grid. This segment also includes the development and provision of installation, operation, and maintenance of solar, wind, and energy storage assets. The Integrated Urban Solutions segment develops large-scale integrated urban and integrated townships, such as industrial parks, business, commercial and residential spaces, and production and reclamation of water and industrial wastewater treatment, as well as solid waste management and waste-to-resource solutions. The Decarbonisation Solutions segment trades in environmental attributes, green hydrogen and ammonia, and power, as well as engages in carbon capture, utilization, and storage business. The Other Businesses and Corporate segment engages in the construction and minting activities; and insurance and financial services. The company was formerly known as Minaret Limited and changed its name to Sembcorp Industries Ltd in July 1998. Sembcorp Industries Ltd was incorporated in 1998 and is headquartered in Singapore.
www.sembcorp.com ↗Shares trade at a low 10.9× trailing earnings, easing to 9.7× on forward estimates. Profitability shows a net margin of 17.0% and return on equity of 17.6%. Leverage is high at 6.1× net debt/EBITDA. It yields 4.2% in dividends. The mean analyst target of SGD6.96 sits 16.5% above the current price (Buy, 12 analysts).
business model
Sembcorp Industries is a Singapore-based energy and urban-development group transitioning from conventional thermal power toward renewables and decarbonisation solutions. It develops and operates power generation and industrial land, reporting in SGD, having divested its marine business (Sembcorp Marine) in 2020.
revenue segments
Its segments are Gas and Related Services (gas-fired and thermal power in Singapore and India), Renewables (solar, wind and energy storage, with sizeable capacity in India and China), and Integrated Urban Solutions (industrial parks and land in Vietnam, China and Indonesia). Renewables capacity growth is central to its strategy.
key dependencies
It depends on power prices and spark spreads, execution of renewable-capacity expansion, the Indian and Chinese energy markets, industrial-land demand in Southeast Asia, and financing for capital-intensive projects. Policy and carbon regulation shape the transition.
competitors
Competitors include regional independent power producers and utilities, renewable developers such as ReNew and Adani Green in India, and industrial-park and urban-development players in Vietnam and China.
moat
Its moat rests on established power-generation assets, a strategic industrial-park land bank, government and utility relationships, and a growing renewables portfolio with scale in key markets.
risks
Risks include energy-transition execution, merchant power-price volatility, Indian renewables and receivables risk, capital intensity and leverage, and carbon-policy and stranded-asset exposure.
Financials & metrics
as of 04 Jul 2026Tap any metric for an explanation.● provider● computedN/A not available from source
Dividends
This company does not currently pay a dividend.
Analyst assessment
as of 04 Jul 2026Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.