Suzlon Energy Ltd.

NSE: SUZLON · Heavy Electrical Equipment

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52W Range₹33 – ₹62

Snapshot

Unlock Suzlon Energy Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Suzlon Energy Limited is a prominent manufacturer of wind turbine generators and related components, offering comprehensive operation and maintenance services. The company also engages in project execution, land sub-leasing, and the production of foundry and forging components.

Business Model

The company generates revenue through the end-to-end manufacturing and installation of wind energy solutions, supplemented by long-term service contracts. Additional income streams are derived from power generation, solar operations, and the sale of industrial components.

Growth Outlook

Growth is driven by the global transition towards renewable energy and the increasing demand for wind power infrastructure in India. The company continues to leverage its established manufacturing base and service capabilities to capture market share in the green energy sector.

Key Risks

  • Regulatory and Policy Risk. Changes in government subsidies, renewable energy policies, and grid connectivity regulations can significantly impact project viability.
  • Execution and Operational Risk. Delays in large-scale wind farm project execution or technical failures in turbine performance may lead to financial penalties and reputational damage.
  • Financial Leverage. The company's historical debt profile remains a critical factor, as high interest obligations can constrain capital expenditure and liquidity.
  • Supply Chain Volatility. Fluctuations in the cost of raw materials, such as steel and composite materials, directly affect manufacturing margins.

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Key Metrics

REVENUE

₹18,434 Cr

TTM · consolidated

+33.9%YoY

NET PROFIT

₹2,259 Cr

TTM · consolidated

-28.8%YoY

EPS

₹1.64

TTM · consolidated

-29.3%YoY

RETURN ON EQUITY

24.9%

TTM · consolidated

-15.5 ppYoY

RETURN ON CAPITAL EMPLOYED

27.6%

TTM · consolidated

+1.2 ppYoY

P/E

21.5×

Q2 FY27 · consolidated

21.5 vs -16.2x5Y avg

EV/EBITDA

15.4x

Q2 FY27 · consolidated

15.4 vs 94.7x5Y avg

EBITDA MARGIN

17.0%

TTM · consolidated

-2.1 ppYoY

NET PROFIT MARGIN

8.1%

Q2 FY27 · consolidated

-25.0 ppYoY

DEBT TO EQUITY

0.0x

Q2 FY27 · consolidated

-0.01xYoY

Peers · Heavy Electrical Equipment

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Suzlon Energy Ltd.SUZLON
₹48,453 Cr21.5×15.4333.9%17.0%24.9%27.6%-40.6%
Thermax Ltd.THERMAX
₹37,354 Cr59.5×34.194.7%10.5%11.3%14.2%-2.6%
Schneider Electric Infrastructure Ltd.SCHNEIDER
₹26,966 Cr146.7×75.979.6%12.2%27.5%24.6%+34.8%
TD Power Systems LimitedTDPOWERSYS
₹22,416 Cr40.8×55.5554.3%18.9%28.5%38.6%-7.4%
Azad Engineering LimitedAZAD
₹16,204 Cr116.8×59.2128.7%44.0%9.5%12.5%+47.9%
Triveni Turbine Ltd.TRITURBINE
₹15,669 Cr46.6×30.4817.7%22.7%25.2%33.2%-7.9%

As of Q2 FY27

Financials