Suzlon Energy Ltd

Suzlon Energy Ltd

₹ 45.7 -2.44%
13 Feb - close price
About

Suzlon is one of the leading global renewable energy solutions providers. It is a vertically integrated WTG manufacturer. It also undertakes installation and O&M of all WTG sales. Operations include design development and manufacturing of all major components, including rotor blades, tubular towers, generators, control equipment, gears and nacelles. [1]

Key Points

Business Overview:[1]
Company is a renewable energy solutions provider and is in the business of manufacturing, project execution and operation and maintenance of wind turbine generators and sale of related components. It has installed 21 GW of wind energy in 17 countries. With over 30 years of expertise and a workforce of ~7,800, Suzlon is India’s No. 1 renewable energy company, managing 15.1 GW of domestic wind assets and ~6 GW internationally.

  • Market Cap 62,123 Cr.
  • Current Price 45.7
  • High / Low 74.3 / 44.8
  • Stock P/E 19.9
  • Book Value 5.37
  • Dividend Yield 0.00 %
  • ROCE 36.2 %
  • ROE 45.6 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 23.0% CAGR over last 5 years

Cons

  • Stock is trading at 8.50 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding is low: 11.7%
  • Tax rate seems low
  • Debtor days have increased from 96.9 to 132 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
911 1,011 760 764 908 1,429 1,912 1,942 2,768 3,577 2,848 3,481 3,796
914 987 712 732 882 1,313 1,568 1,701 2,294 2,970 2,265 2,756 3,250
Operating Profit -3 24 48 32 26 115 343 241 474 607 583 725 546
OPM % -0% 2% 6% 4% 3% 8% 18% 12% 17% 17% 20% 21% 14%
47 62 66 54 47 51 33 41 72 59 31 -14 7
Interest 92 84 76 58 29 63 40 49 60 79 93 99 103
Depreciation 40 62 37 34 20 28 35 41 45 46 39 43 47
Profit before tax -88 -59 0 -5 24 74 300 192 440 541 482 569 402
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 0% -117% 28% -126% 30%
-88 -59 0 -5 24 74 300 192 438 1,174 347 1,287 282
EPS in Rs -0.07 -0.05 0.00 -0.00 0.02 0.06 0.22 0.14 0.32 0.87 0.26 0.95 0.21
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
3,065 2,270 5,942 9,246 5,977 2,544 376 1,247 4,040 3,590 5,864 10,198 13,701
3,400 2,652 5,103 6,736 5,344 2,743 1,270 1,346 3,964 3,529 4,946 8,527 11,241
Operating Profit -336 -382 839 2,510 633 -199 -894 -98 76 61 918 1,670 2,460
OPM % -11% -17% 14% 27% 11% -8% -238% -8% 2% 2% 16% 16% 18%
806 -4,274 722 -810 -146 -5,830 -559 870 -26 2,733 91 199 83
Interest 1,221 1,219 776 931 1,223 944 1,141 983 777 442 144 229 374
Depreciation 174 158 420 414 419 439 682 186 185 190 142 167 176
Profit before tax -925 -6,032 365 356 -1,155 -7,412 -3,276 -398 -913 2,163 723 1,474 1,994
Tax % -0% 0% -3% -0% 0% 0% 0% 0% 0% 0% 0% -43%
-924 -6,032 378 356 -1,156 -7,413 -3,277 -398 -913 2,163 723 2,105 3,091
EPS in Rs -3.00 -13.14 0.61 0.57 -1.76 -11.26 -4.97 -0.38 -0.80 1.73 0.54 1.55 2.29
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 16%
5 Years: 94%
3 Years: 36%
TTM: 70%
Compounded Profit Growth
10 Years: 13%
5 Years: 23%
3 Years: 64%
TTM: 235%
Stock Price CAGR
10 Years: 14%
5 Years: 55%
3 Years: 72%
1 Year: -11%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: 46%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 498 742 1,004 1,005 1,064 1,064 1,064 1,702 1,843 2,454 2,722 2,732 2,744
Reserves 2,328 -605 -400 18 -710 -8,087 -11,342 -5,680 -5,736 -1,035 559 2,797 4,564
10,058 10,947 6,210 6,075 7,357 6,783 11,962 4,852 4,314 2,342 38 36 74
5,727 4,671 5,478 7,128 5,130 8,763 4,039 4,489 5,253 2,286 3,438 6,780 7,380
Total Liabilities 18,611 15,754 12,292 14,226 12,841 8,523 5,723 5,362 5,675 6,048 6,757 12,344 14,761
719 588 1,746 1,790 1,470 1,404 893 758 681 526 673 732 770
CWIP 16 20 179 128 292 140 117 100 12 4 8 76 193
Investments 7,730 2,752 2,753 3,648 2,878 2,009 1,782 1,781 1,752 1,754 379 1,278 1,648
10,146 12,395 7,615 8,660 8,201 4,970 2,932 2,724 3,230 3,763 5,698 10,258 12,150
Total Assets 18,611 15,754 12,292 14,226 12,841 8,523 5,723 5,362 5,675 6,048 6,757 12,344 14,761

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
-163 -15 1,555 2,801 -796 450 -1,257 -161 -74 -17 -48 916
-540 -566 2,156 -1,844 32 534 -3,503 518 1,180 408 -107 -612
624 588 -3,685 -898 1,058 -1,414 4,780 -199 -889 -510 179 331
Net Cash Flow -79 7 27 59 293 -430 20 157 216 -119 24 635

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 184 254 116 91 116 157 413 111 60 56 103 132
Inventory Days 123 132 132 150 138 251 859 420 138 101 221 164
Days Payable 565 592 328 307 216 381 1,108 669 214 141 234 191
Cash Conversion Cycle -258 -206 -81 -66 37 26 163 -138 -16 15 89 104
Working Capital Days -336 84 -65 -86 -169 -831 -12,645 -302 -74 -73 62 48
ROCE % -2% -2% 10% 26% 8% -5% -186% -17% -7% 3% 23% 36%

Shareholding Pattern

Numbers in percentages

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
14.50% 14.50% 13.28% 13.28% 13.28% 13.26% 13.25% 13.25% 13.25% 11.75% 11.73% 11.73%
7.64% 7.79% 10.88% 17.83% 19.57% 21.53% 23.72% 22.87% 23.04% 23.02% 22.70% 23.73%
5.55% 5.90% 9.81% 6.16% 6.30% 9.16% 9.02% 9.31% 8.73% 10.17% 10.14% 9.23%
0.00% 0.02% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
72.30% 71.78% 65.99% 62.74% 60.85% 56.03% 54.02% 54.56% 54.98% 55.07% 55.40% 55.29%
No. of Shareholders 24,42,67224,90,96128,68,15235,12,04043,55,16941,96,13349,94,34554,68,87156,74,61956,04,61056,36,24056,35,389

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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