ABB & Siemens: Do Q2 earnings justify ‘frothy’ 60x+ valuations?

Leading MNC engineering stocks like ABB India and Siemens trade at a P/E of more than 60 times. These leading global engineering companies grew consolidated revenues by more than 13% y-o-y in the September 2025 quarter, however, they had to face higher raw material costs in the quarter under review. Does the performance of these MNC stocks justify trading at such high valuations?