Investors will be keenly watching Suzlon Energy on Wednesday after the company announced some amazing news. For the three months ending December 31, 2024, Suzlon reported a staggering 90% increase in net profit, reaching Rs 386.92 crore. This growth is impressive as their revenue from operations also jumped 91% year-on-year, hitting Rs 2,968.81 crore.
To give you an idea, last year at the same time, Suzlon’s revenue was Rs 1,552.91 crore, and they made a profit of Rs 203.04 crore. The company’s total income for this quarter soared by 91% YoY to Rs 3,002.36 crore, compared to Rs 1,569.71 crore last year. Their Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) more than doubled to Rs 500 crore, with an impressive EBITDA margin of 16.8%.
Not only that, but Suzlon also achieved its highest-ever quarterly deliveries, reaching 447 megawatts (MW) in Q3 FY25. One of the key areas of growth was their wind turbine generators, which saw revenue increase over 132% YoY, jumping to Rs 2,336 crore from Rs 1,004 crore last year. Their foundry and forging segment also did well, with a 65% revenue increase to Rs 146 crore.
After these fantastic results, Morgan Stanley has maintained an ‘Overweight’ rating on Suzlon Energy and set a target price of Rs 71. They noted that Suzlon has a solid order book of 5.5 gigawatts (GW), expected to be completed in the last quarter of FY25 and FY26. They also mentioned that land acquisition issues in the wind industry are improving from FY26, and they see a rise in inquiries for turbines. Suzlon is planning to invest Rs 350-400 crore in new blade manufacturing lines in Madhya Pradesh and Rajasthan.
JP Chalasani, CEO of Suzlon Group, said, “We are seeing consistent growth every quarter. Our manufacturing capacity is expanding, as we need to fulfill a record-high order book of 5.5 GW. With our plans on track, we can continue to create long-term value for our stakeholders.”
(Disclaimer: The advice and opinions shared here are solely those of the experts and do not represent the views of The Economic Times.)
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