Suzlon Energy Ltd

Suzlon Energy Ltd

₹ 66.2 0.76%
13 Dec - 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. Apart from manufacturing, it offers a full gamut of wind project planning and execution services, including wind resource assessment, infrastructure and power evacuation, technical planning and execution of wind power projects. It also offers O&M services in India and overseas countries.[1]

Key Points

Business Overview:[1][2]
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 20+ GW of wind energy in 17 countries and 111+ wind farms with a capacity of 13,880 MW. Company client portfolio includes power utilities and electricity producers in both the private and public sectors.

  • Market Cap 89,613 Cr.
  • Current Price 66.2
  • High / Low 86.0 / 33.8
  • Stock P/E 90.8
  • Book Value 3.32
  • Dividend Yield 0.00 %
  • ROCE 24.9 %
  • ROE 28.8 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 19.7% CAGR over last 5 years

Cons

  • Stock is trading at 19.9 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding is low: 13.2%
  • Tax rate seems low
  • Debtor days have increased from 83.4 to 102 days.
  • Promoter holding has decreased over last 3 years: -3.16%

* 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

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
1,356 1,610 2,474 1,381 1,438 1,458 1,694 1,351 1,421 1,560 2,196 2,022 2,103
1,123 1,324 2,258 1,166 1,268 1,243 1,461 1,152 1,196 1,313 1,839 1,652 1,809
Operating Profit 233 286 217 214 170 215 233 199 225 248 357 370 294
OPM % 17% 18% 9% 16% 12% 15% 14% 15% 16% 16% 16% 18% 14%
6 5 4 2,472 5 6 257 19 -28 9 -16 23 18
Interest 190 186 176 151 97 86 86 62 44 14 44 45 56
Depreciation 61 63 77 59 63 58 81 55 51 39 44 46 54
Profit before tax -13 42 -33 2,476 15 78 323 101 102 203 253 302 202
Tax % 4% 11% 485% 2% -283% -1% 1% 0% 0% 0% -0% 0% 0%
-12 38 -206 2,433 56 78 320 101 102 203 254 302 201
EPS in Rs -0.01 0.03 -0.18 2.01 0.05 0.06 0.22 0.08 0.08 0.15 0.19 0.22 0.15
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
18,914 20,403 19,954 9,483 12,714 8,116 5,025 2,973 3,346 6,582 5,971 6,529 7,882
20,415 20,465 25,703 9,767 10,235 7,140 5,048 3,829 2,809 5,682 5,137 5,492 6,612
Operating Profit -1,501 -62 -5,749 -283 2,479 977 -23 -856 537 900 833 1,037 1,269
OPM % -8% -0% -29% -3% 20% 12% -0% -29% 16% 14% 14% 16% 16%
-286 -495 -194 2,563 109 555 92 -42 823 95 2,739 -24 34
Interest 1,855 2,070 2,065 1,304 1,288 1,581 1,270 1,367 996 735 421 164 159
Depreciation 740 777 809 392 389 342 342 419 258 260 260 190 184
Profit before tax -4,383 -3,404 -8,816 584 912 -391 -1,543 -2,684 105 0 2,892 659 960
Tax % 8% 4% 4% -4% 1% -0% -1% 0% 4% 41,648% 0% -0%
-4,732 -3,548 -9,133 583 852 -384 -1,537 -2,692 104 -177 2,887 660 960
EPS in Rs -21.47 -11.43 -19.95 0.94 1.38 -0.57 -2.32 -4.01 0.10 -0.17 2.28 0.49 0.71
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -11%
5 Years: 5%
3 Years: 25%
TTM: 33%
Compounded Profit Growth
10 Years: 8%
5 Years: 20%
3 Years: 45%
TTM: 166%
Stock Price CAGR
10 Years: 19%
5 Years: 105%
3 Years: 117%
1 Year: 72%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: 29%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 355 498 742 1,004 1,005 1,064 1,064 1,064 1,702 1,843 2,454 2,722 2,731
Reserves 547 -879 -8,064 -8,537 -7,846 -8,031 -9,562 -12,047 -5,045 -5,369 -1,355 1,199 1,764
15,191 17,059 17,811 11,414 11,114 11,996 11,552 13,210 6,925 6,465 1,938 150 277
13,113 13,583 11,243 5,842 7,887 6,092 5,816 4,303 3,019 3,535 2,486 3,108 4,877
Total Liabilities 29,206 30,261 21,731 9,723 12,160 11,121 8,871 6,530 6,601 6,475 5,523 7,179 9,649
12,076 13,515 5,843 1,573 1,665 1,463 1,520 1,358 1,166 1,059 866 886 1,764
CWIP 306 433 356 233 206 353 229 122 107 20 6 20 29
Investments 36 707 266 393 670 67 20 20 23 0 0 8 0
16,788 15,606 15,266 7,524 9,619 9,237 7,102 5,030 5,305 5,396 4,651 6,264 7,855
Total Assets 29,206 30,261 21,731 9,723 12,160 11,121 8,871 6,530 6,601 6,475 5,523 7,179 9,649

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
556 568 1,119 -739 1,602 -109 1,267 -929 530 1,302 491 80
-328 -439 -825 4,482 -643 -138 125 -32 -24 -19 85 -152
-901 360 -199 -5,656 -1,249 492 -1,898 969 -327 -1,045 -709 132
Net Cash Flow -673 489 95 -1,914 -290 245 -506 8 180 238 -133 60

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 53 48 50 97 104 134 137 168 130 76 72 102
Inventory Days 141 102 90 164 168 216 355 400 503 186 176 210
Days Payable 124 134 122 193 233 180 265 253 366 155 86 165
Cash Conversion Cycle 69 16 18 68 39 170 227 315 266 107 162 148
Working Capital Days -13 -36 -13 18 -96 75 -82 -378 176 61 90 108
ROCE % -12% -5% -48% 11% 53% 15% -8% -48% 10% 21% 20% 25%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
16.04% 15.85% 14.92% 14.50% 14.50% 14.50% 14.50% 13.28% 13.28% 13.28% 13.26% 13.25%
4.85% 5.52% 6.29% 7.84% 7.65% 7.64% 7.79% 10.88% 17.83% 19.57% 21.53% 23.72%
14.62% 13.57% 15.50% 8.24% 5.82% 5.55% 5.90% 9.81% 6.16% 6.30% 9.16% 9.02%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.02% 0.02% 0.00% 0.00% 0.00% 0.00%
64.49% 65.06% 63.29% 69.40% 72.02% 72.30% 71.78% 65.99% 62.74% 60.85% 56.03% 54.02%
No. of Shareholders 15,46,56420,70,70921,15,05722,35,31024,31,13624,42,67224,90,96128,68,15235,12,04043,55,16941,96,13349,94,345

* 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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