Suzlon Energy Ltd
Suzlon Energy Limited is a wind-first group spanning turbine technology/manufacturing, project development/execution, and renewable-asset O&M. It has installed 22+ GW across 17 countries; key subsidiaries include Suzlon Global Services, SE Forge, and Renom. [1]
- Market Cap ₹ 62,082 Cr.
- Current Price ₹ 45.5
- High / Low ₹ 61.5 / 38.2
- Stock P/E 21.5
- Book Value ₹ 7.22
- Dividend Yield 0.00 %
- ROCE 35.5 %
- ROE 38.1 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 34.8% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 38.9%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding is low: 11.7%
- Tax rate seems low
- Earnings include an other income of Rs.1,345 Cr.
* 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.
Peer comparison
Industrials Capital Goods Electrical Equipment Heavy Electrical Equipment
Part of BSE 500 BSE Capital Goods BSE 100 BSE 200 BSE Dollex 200
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,270 | 5,942 | 9,246 | 5,977 | 2,544 | 376 | 1,247 | 4,040 | 3,590 | 5,864 | 10,198 | 15,092 | 15,541 | |
| 2,652 | 5,103 | 6,736 | 5,344 | 2,743 | 1,270 | 1,346 | 3,964 | 3,529 | 4,946 | 8,527 | 12,267 | 12,768 | |
| Operating Profit | -382 | 839 | 2,510 | 633 | -199 | -894 | -98 | 76 | 61 | 918 | 1,670 | 2,824 | 2,774 |
| OPM % | -17% | 14% | 27% | 11% | -8% | -238% | -8% | 1.9% | 1.7% | 16% | 16% | 19% | 18% |
| -4,274 | 722 | -810 | -146 | -5,830 | -559 | 870 | -26 | 2,733 | 91 | 199 | 1,330 | 1,345 | |
| Interest | 1,219 | 776 | 931 | 1,223 | 944 | 1,141 | 983 | 777 | 442 | 144 | 229 | 418 | 447 |
| Depreciation | 158 | 420 | 414 | 419 | 439 | 682 | 186 | 185 | 190 | 142 | 167 | 190 | 223 |
| Profit before tax | -6,032 | 365 | 356 | -1,155 | -7,412 | -3,276 | -398 | -913 | 2,163 | 723 | 1,474 | 3,547 | 3,448 |
| Tax % | 0% | -3% | -0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -43% | -16% | |
| -6,032 | 378 | 356 | -1,156 | -7,413 | -3,277 | -398 | -913 | 2,163 | 723 | 2,105 | 4,111 | 4,070 | |
| EPS in Rs | -13.14 | 0.61 | 0.57 | -1.76 | -11.26 | -4.97 | -0.38 | -0.80 | 1.73 | 0.54 | 1.55 | 3.02 | 2.99 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 65% |
| 3 Years: | 61% |
| TTM: | 40% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 38% |
| 5 Years: | 35% |
| 3 Years: | 114% |
| TTM: | 40% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 51% |
| 3 Years: | 24% |
| 1 Year: | -21% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 39% |
| Last Year: | 38% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 742 | 1,004 | 1,005 | 1,064 | 1,064 | 1,064 | 1,702 | 1,843 | 2,454 | 2,722 | 2,732 | 2,745 |
| Reserves | -605 | -400 | 18 | -710 | -8,087 | -11,342 | -5,680 | -5,736 | -1,035 | 559 | 2,797 | 7,083 |
| 10,947 | 6,210 | 6,075 | 7,357 | 6,783 | 11,962 | 4,852 | 4,314 | 2,342 | 38 | 36 | 289 | |
| 4,671 | 5,478 | 7,128 | 5,130 | 8,763 | 4,039 | 4,489 | 5,253 | 2,286 | 3,438 | 6,780 | 7,968 | |
| Total Liabilities | 15,754 | 12,292 | 14,226 | 12,841 | 8,523 | 5,723 | 5,362 | 5,675 | 6,048 | 6,757 | 12,344 | 18,085 |
| 588 | 1,746 | 1,790 | 1,470 | 1,404 | 893 | 758 | 681 | 526 | 673 | 732 | 1,232 | |
| CWIP | 20 | 179 | 128 | 292 | 140 | 117 | 100 | 12 | 4 | 8 | 76 | 151 |
| Investments | 2,752 | 2,753 | 3,648 | 2,878 | 2,009 | 1,782 | 1,781 | 1,752 | 1,754 | 379 | 1,278 | 2,337 |
| 12,395 | 7,615 | 8,660 | 8,201 | 4,970 | 2,932 | 2,724 | 3,230 | 3,763 | 5,698 | 10,258 | 14,364 | |
| Total Assets | 15,754 | 12,292 | 14,226 | 12,841 | 8,523 | 5,723 | 5,362 | 5,675 | 6,048 | 6,757 | 12,344 | 18,085 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -15 | 1,555 | 2,801 | -796 | 450 | -1,257 | -161 | -74 | -17 | -48 | 916 | 1,291 | |
| -566 | 2,156 | -1,844 | 32 | 534 | -3,503 | 518 | 1,180 | 408 | -107 | -612 | -1,328 | |
| 588 | -3,685 | -898 | 1,058 | -1,414 | 4,780 | -199 | -889 | -510 | 179 | 331 | -87 | |
| Net Cash Flow | 7 | 27 | 59 | 293 | -430 | 20 | 157 | 216 | -119 | 24 | 635 | -124 |
| Free Cash Flow | -53 | 1,084 | 2,445 | -1,027 | 253 | -1,354 | -198 | -126 | -14 | -256 | 588 | 851 |
| CFO/OP | 5% | 183% | 112% | -127% | -225% | 140% | 167% | -99% | -25% | -3% | 54% | 48% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 254 | 116 | 91 | 116 | 157 | 413 | 111 | 60 | 56 | 103 | 132 | 139 |
| Inventory Days | 132 | 132 | 150 | 138 | 251 | 859 | 420 | 138 | 101 | 221 | 164 | 134 |
| Days Payable | 592 | 328 | 307 | 216 | 381 | 1,108 | 669 | 214 | 141 | 234 | 191 | 170 |
| Cash Conversion Cycle | -206 | -81 | -66 | 37 | 26 | 163 | -138 | -16 | 15 | 89 | 104 | 103 |
| Working Capital Days | 84 | -65 | -86 | -169 | -831 | -12,645 | -302 | -74 | -73 | 62 | 48 | 77 |
| ROCE % | -2% | 10% | 26% | 8% | -5% | -186% | -17% | -7% | 3% | 23% | 36% | 35% |
Insights
In beta| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cumulative Market Share in India Wind % |
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| Annual WTG Installations/Commissioning MW |
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| Annual WTG Deliveries MW |
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| OMS India Installed Base GW |
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| Order Book (Wind Firm Order Book) MW |
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| Renom Multi-Brand O&M Asset Under Management GW |
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| EPC Share in Wind Order Book % |
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| R&D Expenditure (Percentage of Turnover) % |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
- Suzlon won maiden 200 MW wind order from Ayana Renewable Power; S144 sales cross 10 GW.
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Announcement under Regulation 30 (LODR)-Change in Management
- Ms. Manjari Upadhye appointed President, RE Asset Management Services, effective 4 September 2026.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
- Suzlon wins 250 MW wind order from Torrent Green Energy; partnership exceeds 1.3 GW.
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Reg. 34 (1) Annual Report.
- Suzlon corrected typographical errors in FY2025-26 Annual Report; no financial numbers affected.
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Reg. 34 (1) Annual Report.
- Suzlon corrected annual report FY2025-26 typographical errors on flags, Audit Committee meetings, and volunteering hours.
Annual reports
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Annual Report 2026
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Annual Report 2025
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Annual Report 2024
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Annual Report 2023
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Annual Report 2022
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Annual Report 2021
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Annual Report 2020
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Annual Report 2019
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Annual Report 2018
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Annual Report 2017
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Annual Report 2016
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Annual Report 2015
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Annual Report 2014
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Annual Report 2013
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Annual Report 2013
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Concalls
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Aug 2026Transcript PPT REC
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Jun 2026Transcript PPT REC
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May 2026TranscriptAI SummaryPPT
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT REC
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Jun 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT
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Jul 2024Transcript PPT REC
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Jun 2024Transcript PPT
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May 2024Transcript PPT
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May 2024TranscriptPPT REC
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May 2024TranscriptAI SummaryPPT
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Feb 2024Transcript PPT
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Jan 2024TranscriptPPT REC
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Nov 2023Transcript PPT REC
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Jul 2023Transcript PPT REC
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Jun 2023Transcript PPT REC
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May 2023TranscriptAI SummaryPPT
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Feb 2023Transcript PPT REC
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Nov 2022Transcript PPT REC
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Nov 2020TranscriptAI SummaryPPT
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Jan 2019TranscriptPPT
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May 2018TranscriptAI SummaryPPT
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May 2017TranscriptAI SummaryPPT
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Oct 2016TranscriptAI SummaryPPT
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Oct 2016TranscriptAI SummaryPPT
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Sep 2016TranscriptAI SummaryPPT
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Jul 2016TranscriptAI SummaryPPT
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Jun 2016TranscriptAI SummaryPPT
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May 2016TranscriptAI SummaryPPT
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Jan 2016TranscriptAI SummaryPPT
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Dec 2015TranscriptAI SummaryPPT
Business Overview:
Suzlon 2.0 comprises RE Tech, DevCo, Projects, and Asset Management Services. Existing S120 and S144 turbines feature over 80% local sourcing. Future offerings include the low-wind S175 (5.x MW) and export-targeted S163 (6.x MW) slated for H1 2027.[1] [2]