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 ₹ 50,264 Cr.
- Current Price ₹ 36.9
- High / Low ₹ 61.5 / 36.3
- Stock P/E 17.5
- 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: | 10% |
| 5 Years: | 43% |
| 3 Years: | 5% |
| 1 Year: | -31% |
| 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/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 5% | 183% | 112% | -127% | -225% | 140% | 167% | -99% | -25% | -3% | 54% | 48% |
Ratios
Standalone / 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 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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| Annual WTG Commissioning (COD basis) MW |
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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
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
- Allotment of 3,46,000 equity shares pursuant to exercise of stock options under ESOP 2022
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Board Meeting Intimation for Inter Alia, Consider And Approve The Unaudited Financial Results Of The Company On Standalone And Consolidated Basis For The Quarter And Half Year Ended On 30Th September 2026.
- Board meeting on 29 Oct 2026 to approve Q2 FY2027 standalone and consolidated results; trading window closed till 31 Oct.
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Rumour verification - Regulation 30(11)
- Suzlon reports material price movement on 12 October 2026, with no triggering event identified.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
- Regulation 74(5) certificate filed for quarter ended 30 September 2026; no demat/remat requests processed.
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 2026PPT
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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 2024PPT REC
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May 2024PPT
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Feb 2024Transcript PPT
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Jan 2024PPT 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 2023PPT
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Feb 2023Transcript PPT REC
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Nov 2022Transcript PPT REC
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Nov 2020PPT
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Jan 2019Transcript
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May 2018PPT
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May 2017PPT
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Oct 2016PPT
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Oct 2016PPT
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Sep 2016PPT
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Jul 2016PPT
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Jun 2016PPT
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May 2016PPT
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Jan 2016PPT
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Dec 2015PPT
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]