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 ₹ 56,924 Cr.
- Current Price ₹ 42.0
- High / Low ₹ 61.5 / 36.3
- Stock P/E 18.1
- Book Value ₹ 6.96
- Dividend Yield 0.00 %
- ROCE 34.2 %
- ROE 39.7 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 45.2% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 38.5%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding is low: 11.7%
- Tax rate seems low
* 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
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Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 19,954 | 9,483 | 12,714 | 8,116 | 5,025 | 2,973 | 3,346 | 6,582 | 5,971 | 6,529 | 10,890 | 16,732 | 17,429 | |
| 25,703 | 9,767 | 10,235 | 7,140 | 5,048 | 3,829 | 2,809 | 5,682 | 5,137 | 5,492 | 9,026 | 13,707 | 14,411 | |
| Operating Profit | -5,749 | -283 | 2,479 | 977 | -23 | -856 | 537 | 900 | 833 | 1,037 | 1,863 | 3,025 | 3,019 |
| OPM % | -29% | -3.0% | 20% | 12% | -0.5% | -29% | 16% | 14% | 14% | 16% | 17% | 18% | 17% |
| -194 | 2,563 | 109 | 555 | 92 | -42 | 823 | 95 | 2,739 | -24 | 97 | 178 | 180 | |
| Interest | 2,065 | 1,304 | 1,288 | 1,581 | 1,270 | 1,367 | 996 | 735 | 421 | 164 | 255 | 462 | 493 |
| Depreciation | 809 | 392 | 389 | 342 | 342 | 419 | 258 | 260 | 260 | 190 | 259 | 318 | 354 |
| Profit before tax | -8,816 | 584 | 912 | -391 | -1,543 | -2,684 | 105 | 0 | 2,892 | 659 | 1,447 | 2,422 | 2,352 |
| Tax % | 4% | -4% | 1% | -0% | -1% | 0% | 4% | 41,648% | 0% | -0% | -43% | -31% | |
| -9,133 | 583 | 852 | -384 | -1,537 | -2,692 | 104 | -177 | 2,887 | 660 | 2,072 | 3,163 | 3,144 | |
| EPS in Rs | -19.95 | 0.94 | 1.38 | -0.57 | -2.32 | -4.01 | 0.10 | -0.17 | 2.28 | 0.49 | 1.53 | 2.33 | 2.31 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 38% |
| 3 Years: | 41% |
| TTM: | 45% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 23% |
| 5 Years: | 45% |
| 3 Years: | 163% |
| TTM: | 50% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 45% |
| 3 Years: | 13% |
| 1 Year: | -22% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 38% |
| Last Year: | 40% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 | -8,064 | -8,537 | -7,846 | -8,031 | -9,562 | -12,047 | -5,045 | -5,369 | -1,355 | 1,199 | 3,374 | 6,719 |
| 17,811 | 11,414 | 11,114 | 11,996 | 11,552 | 13,210 | 6,925 | 6,465 | 1,938 | 150 | 323 | 556 | |
| 11,243 | 5,842 | 7,887 | 6,092 | 5,816 | 4,303 | 3,019 | 3,535 | 2,486 | 3,108 | 6,531 | 8,850 | |
| Total Liabilities | 21,731 | 9,723 | 12,160 | 11,121 | 8,871 | 6,530 | 6,601 | 6,475 | 5,523 | 7,179 | 12,960 | 18,869 |
| 5,843 | 1,573 | 1,665 | 1,463 | 1,520 | 1,358 | 1,166 | 1,059 | 866 | 886 | 1,780 | 2,296 | |
| CWIP | 356 | 233 | 206 | 353 | 229 | 122 | 107 | 20 | 6 | 20 | 105 | 190 |
| Investments | 266 | 393 | 670 | 67 | 20 | 20 | 23 | 0 | 0 | 8 | 43 | 217 |
| 15,266 | 7,524 | 9,619 | 9,237 | 7,102 | 5,030 | 5,305 | 5,396 | 4,651 | 6,264 | 11,032 | 16,166 | |
| Total Assets | 21,731 | 9,723 | 12,160 | 11,121 | 8,871 | 6,530 | 6,601 | 6,475 | 5,523 | 7,179 | 12,960 | 18,869 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,119 | -739 | 1,602 | -109 | 1,267 | -929 | 530 | 1,302 | 491 | 80 | 1,092 | 1,202 | |
| -825 | 4,482 | -643 | -138 | 125 | -32 | -24 | -19 | 85 | -152 | -749 | -914 | |
| -199 | -5,656 | -1,249 | 492 | -1,898 | 969 | -327 | -1,045 | -709 | 132 | 343 | -155 | |
| Net Cash Flow | 95 | -1,914 | -290 | 245 | -506 | 8 | 180 | 238 | -133 | 60 | 686 | 133 |
| Free Cash Flow | 429 | -1,126 | 1,211 | -764 | 1,020 | -1,029 | 482 | 1,226 | 477 | -147 | 724 | 626 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -23% | 270% | 67% | -17% | -5,358% | 108% | 96% | 144% | 61% | 10% | 59% | 42% |
Ratios
Consolidated / View Standalone
| 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 | 50 | 97 | 104 | 134 | 137 | 168 | 130 | 76 | 72 | 102 | 130 | 137 |
| Inventory Days | 90 | 164 | 168 | 216 | 355 | 400 | 503 | 186 | 176 | 210 | 171 | 152 |
| Days Payable | 122 | 193 | 233 | 180 | 265 | 253 | 366 | 155 | 86 | 165 | 156 | 172 |
| Cash Conversion Cycle | 18 | 68 | 39 | 170 | 227 | 315 | 266 | 107 | 162 | 148 | 145 | 117 |
| Working Capital Days | -96 | -56 | -155 | -100 | -328 | -1,465 | 84 | 16 | 66 | 103 | 73 | 84 |
| ROCE % | -48% | 11% | 53% | 15% | -8% | -48% | 10% | 21% | 20% | 25% | 33% | 34% |
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) % ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
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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.
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Rumour verification - Regulation 30(11)
- Suzlon reported material price movement on 8 Oct 2026; no triggering event identified.
- Closure of Trading Window
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
- Allotment of 6,40,726 equity shares pursuant to exercise of stock options under ESOP plan 2022
Annual reports
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Annual Report 2026
from bse
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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
from bse
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Annual Report 2013
from nse
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Annual Report 2013
from bse
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]