Suzlon reported a stellar 90% year-on-year (YoY) increase in net profit, reaching Rs 386.92 crore for the quarter ended December 31, 2024. The company also saw significant growth in revenue from operations, which rose by 91% YoY to Rs 2,968.81 crore. This compares to revenue of Rs 1,552.91 crore and a net profit of Rs 203.04 crore in the same quarter last year.
Suzlon’s total income also surged by 91% YoY to Rs 3,002.36 crore, up from Rs 1,569.71 crore.
Meanwhile, the EBITDA more than doubled to Rs 500 crore, with an impressive EBITDA margin of 16.8% for the quarter. The strong Q3 performance has clearly resonated with investors, driving the stock’s recent surge.
Post the Q3 earnings, here is what various brokerage firms say about the stock:
JM Financial: Buy | Target price: Rs 80
JM Financial maintained a ‘buy’ rating on the stock with a target price of Rs 80. Manufacturing capacity increased to 4.5 GW. Large orders from NTPC, Torrent Power, and Jindal Renewables, with secured land and right-of-way, improve execution visibility. With a strong order book, higher capacity, better operations (supported by new leadership and supply chain improvements), and sufficient working capital, Suzlon is well-positioned for future growth. However, the pace of national capacity addition remains a key factor to watch.Also read: Stocks in news today: Defense stocks in focus ahead of Budget 2025
ICICI Securities: Buy | Target price: Rs 80
ICICI Securities maintained a ‘buy’ rating on the stock with a target price of Rs 80.
Suzlon reported revenues of Rs 2,970 crore, EBITDA of Rs 500 crore (+91% YoY) and profit of Rs 380 crore, beating consensus– led by the execution of 457MW of wind turbines. Order inflow in Q3/9M was 0.7GW/3GW. As a result, the order book swelled to 5.5GW at end-Jan’25. The outlook for the near- to medium-term remains strong. Suzlon has seen strong traction in terms of order inquiry and shall be selective in booking new orders, focussing more on the execution front. With its Pondicherry plant becoming operational, another 1.5GW capacity shall be added, taking the total to 4.5GW; thus, ramping up execution in the next 18 months.
Morgan Stanley: Overweight| Target price: Rs 71
Morgan Stanley has maintained an ‘overweight’ rating on Suzlon Energy, with a target price of Rs 71.
The company posted a strong beat in Q3FY25 and holds a large order book of 5.5GW, expected to be executed in Q4FY25 and FY26. Suzlon anticipates that wind industry constraints around land acquisition will improve from FY26, and turbine inquiries are on the rise. Additionally, the company plans to invest Rs 350-400 crore in new blade manufacturing lines in Madhya Pradesh and Rajasthan.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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