Despite the plunge of the Indian market on Wednesday, Suzlon Energy’s shares hit an upper circuit of 5 percent and reached Rs 60.72. The market cap of Suzlon Energy has become Rs 82,700 crore. The shares of the company are continuously performing well in the market. If we look at the company’s performance in the last one year, there has been a bumper jump of 203.60 percent in the shares of Suzlon Energy.
In fact, this is the first time since 2010 that Suzlon Energy shares have touched the figure of Rs 60. Let us tell you that on Wednesday there was a huge fall in the stock market and by 2 pm it had fallen by 604 points to 79,827.78.
Company gets 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 percent more on an annual basis (YoY). Let us tell you that the company’s revenue in the first quarter of the current financial year is Rs 2016 crore, which is 50 percent more on an annual basis. Wind energy company Suzlon Energy’s EBITDA has increased by almost 86 percent to Rs 370 crore in the first quarter (Q1FY25) which was 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 percent to 18.4 percent.
Investors got bumper returns
Suzlon Energy has given excellent returns to the investors, in the last 15 months the company has performed well in the market and its shares have made a splash. Suzlon Energy’s shares have jumped by about 675 percent in 15 months. The figures for the year 2024 show that the company’s shares have increased by 57.71 percent.
There will be a rise in shares
Morgan Stanley said that the rise in shares of Suzlon Energy will continue. Morgan Stanley had set the target price of Suzlon Energy at Rs 58.5 per share, which the company has left behind. At the same time, Global Brokerage said that the energy production of Suzlon Energy has also been more than estimated. The estimated target of the company was 250 MW whereas the company has produced 274 MW of energy.
received bumper order
Anand Rathi said that we visited Suzlon Energy’s Daman plant, which makes nacelles of wind turbines. Started in 2004, the turbines of this plant have contributed more than 60 percent of the 20 gigawatts supplied globally. India’s wind capacity will increase from 8 to 9 gigawatts by financial year 2027. The company has set a new record in 7 years by producing 274 MW of energy in a quarter. Apart from this, Suzlon Energy has received an order of 3.8 gigawatt which is the highest till date.
Suzlon has 20.8 GW capacity wind energy plants in 17 countries of the world. Suzlon Energy headquartered in Pune. Suzlon Energy is an integrated organization and has in-house 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 a second exchange filing, the company said that the GST department has proposed to impose a penalty of Rs 2,84,595 on the company by the Superintendent of Central GST Gujarat Audit Circle 3 on the company in respect of delayed benefit availability on July 23, 2024. Fine has been imposed.
(Note: Before investing in the stock market, definitely take the help of a financial advisor)