Suzlon Energy shares fall 2% to near six-month low, down 15% in one month
The stock fell to Rs 39.92 apiece on the NSE, its lowest level since early April. It is now nearing its 52-week low of Rs 38.19, which it touched in March this year.
Suzlon Energy shares have lost nearly half their value since hitting a 52-week high of Rs 61.50 in November last year. The company currently has a market capitalisation of around Rs 54,968 crore.
The decline came amid a sharp rise in trading volumes. The broader stock market also remained under pressure on Monday, weighed down by surging oil prices, rising bond yields and broader geopolitical concerns.
Suzlon Energy Q1 results
Suzlon Energy shares saw a sharp downturn in July this year after the company reported a 6% year-on-year (YoY) drop in net profit to Rs 305 crore in Q1 FY27 from Rs 324 crore a year ago. The renewable energy player’s EBITDA fell to Rs 595 crore in Q1 FY27, from Rs 599 crore in the same period last year, while EBITDA margin declined to 15.6% from 19.2%. While net profit, EBITDA and margins declined, its revenue from operations rose 22.5% YoY to Rs 3,819 crore in Q1 FY27 from Rs 3,117 crore in the year-ago period.
EBITDA and PAT margins fell amid ongoing developments, given the temporary logistics disruptions arising from the geopolitical situation, certain strategic investments, and a change in scope and segment mix, said Suzlon Group’s CFO Rahul Jain.
Suzlon Energy optimistic on wind energy opportunities
India’s wind energy industry has visibility of around 85 GW capacity that could be commissioned before 2030, putting the sector broadly on track to achieve the government’s 100 GW wind power target, Suzlon Energy co-founder Girish Tanti told The Economic Times.
“If you add up the bids which have been announced, the projects under development and the projects under construction, already today as an industry, we have visibility about 85 GW before 2030 to be commissioned,” Tanti said, adding that with another five years remaining until 2030 and additional bids expected, the industry is largely on track to meet the 100 GW target.
The executive said the next phase of India’s renewables planning should target 400 GW of wind capacity by 2047. “As an industry we are ready,” Tanti said, adding that the wind target could increase further as confidence in the technology grows.
Also read | Suzlon’s Girish Tanti says wind energy sector can meet 100 GW target by 2030
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