Despite the Indian market diving on Wednesday, Suzlon Energy’s stock hit an upper circuit of 5 percent and reached Rs 60.72, with the market cap of Suzlon Energy reaching Rs 82,700 crore. The company’s shares are consistently performing well in the market. If we look at the company’s performance in the last one year, Suzlon Energy’s shares have seen a bumper jump of 203.60 percent.
In fact, this is the first time since 2010 that the shares of Suzlon Energy have touched the figure of Rs 60. Let us tell you that on Wednesday, the stock market witnessed a huge decline and by 2 pm it had come down to 79,827.78 with a fall of 604 points.
The company made bumper profits
Data released on Monday, the first trading day of this week, showed that Suzlon Energy has made a profit of Rs 300 crore in the June 2024 quarter, which is 200 per cent more on a yearly basis (YoY). Let us tell you that the company’s revenue is Rs 2016 crore in the first quarter of the current financial year, which is 50 per cent more on a yearly basis. The EBITDA of wind energy company Suzlon Energy has increased by about 86 percent to Rs 370 crore in the first quarter (Q1FY25) from Rs 199 crore in the first quarter (Q1FY24). These figures show that the EBITDA margin of the company has increased rapidly and it has increased from 14.8 per cent to 18.4 percent.
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Investors got bumper returns
Suzlon Energy has given great returns to investors, in the last 15 months the company has performed well in the market and its shares have rocked. In 15 months, the shares of Suzlon Energy have jumped by about 675 percent. The figures for the year 2024 show that the company’s shares have jumped by 57.71 percent.
Stocks will remain bullish
Morgan Stanley said that the surge in Suzlon Energy shares will continue. Morgan Stanley had set a target price of Rs 58.5 per share for Suzlon Energy, which the company has surpassed. The global brokerage also said that Suzlon Energy’s energy production has also been more than expected. The company’s estimated target was 250 MW while the company has produced 274 MW of energy.
got a bumper order
Anand Rathi said that we visited Suzlon Energy’s Daman plant, which makes nacelles for wind turbines. This plant, which started in 2004, has contributed more than 60 percent of the turbines in the 20 gigawatt supply globally. By the financial year 2027, India’s wind capacity will increase to 8 to 9 gigawatts. The company has set a new record in 7 years by producing 274 megawatts of energy in a quarter. Apart from this, Suzlon Energy has received an order of 3.8 gigawatts, which is the highest till date.
Suzlon has 20.8 GW of wind energy plants in 17 countries across the world. Suzlon Energy is headquartered in Pune. Suzlon Energy is an integrated organization and has domestic research and development (R&D) centers in Germany, Netherlands, Denmark and India.
fine on company
Let us tell you that in an exchange filing on Tuesday, Suzlon Energy said that it will host its 29th Annual General Meeting (AGM) on September 10. Apart from this, in another exchange filing, the company said that the GST department has proposed to impose a penalty on the company, the Superintendent of Central GST Gujarat Audit Circle 3 has imposed a fine of Rs 2,84,595 on the company in relation to delayed benefit availability on July 23, 2024.
(Note: Before investing in the stock market, please seek the help of a financial advisor)