Suzlon Energy Reports Strong Quarterly Growth
Suzlon Energy, India’s leading wind turbine manufacturer, has delivered impressive results for the September quarter, with a remarkable 96% increase in profit, reaching a record ₹201 crore. This surge has drawn significant investor interest, leading to a temporary rise in share prices.
Market Reaction and Share Price Fluctuation
Following the news, Suzlon’s shares peaked at ₹73.50 during the trading session but closed at ₹68.90, down 2.75% on the BSE, as profit-taking ensued. For context, the share was priced at ₹30.11 a year ago, highlighting substantial growth.
Operational Highlights and Challenges
The company recorded a 48% increase in total revenue, amounting to ₹2,093 crore. However, the EBITDA margin slightly declined from 15.9% to 14.1%. Despite this, Suzlon’s order book reached a record 5.1 GW, bolstered by a significant new order of 1.6 GW.
Brokerage Insights
Brokerage firm Nuvama Institutional Equities has expressed a cautious outlook, citing lower-than-expected operational performance due to adverse weather conditions. They maintain a “hold” rating with a target price of ₹67, reflecting a mixed sentiment on Suzlon’s future prospects.
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Summary at glance
Suzlon Energy, India’s leading wind turbine maker, reported a remarkable 96% profit increase in the September quarter, reaching a record ₹201 crore. This strong performance elevated investor interest, causing shares to rise initially but later fall by 2.75% to ₹68.90 due to profit booking. Despite achieving a record order book of 5.1 GW, concerns arose from lower-than-expected project completions and declining EBITDA margins, prompting a hold rating from Nuvama Institution Equities with a target price of ₹67.
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