Multibagger green energy stock gained 2 percent in the day’s trade after it bags an order for development of 50.4 MW wind power project from Juniper Green Energy Private Limited
At 2:18 p.m the shares of Suzlon Energy were trading at Rs. 32.10 up 2.23 percent from its previous day close price and its market capitalization is Rs. 43,848 Crores.
As per the company’s filing, Suzlon Energy received orders for their 3 MW series turbines for the development of a 50.4 MW wind power project for Juniper Green Energy Private Limited. Suzlon will install 16 wind turbine generators with a Hybrid Lattice Tubular tower of their new product with a rated capacity of 3.15 MW each. The project is located at Dwarka district in
Gujarat and is expected to be commissioned in 2025.
As part of the agreement, Suzlon will supply the wind turbines and execute the project including, erection and commissioning, Suzlon will also provide comprehensive operations and maintenance services post‐commissioning.
The company’s revenue decreased by 9.29 percent from 6,581.78 Cr in FY22 to 5,970.53 Cr in FY23, accompanied by a decreasing loss of 166.19 Cr to profit of 2,887.29 Cr.
The company reported net profit margins of 48.35 percent in FY23 and -2.52 in FY22, this shows that the company is making good utilisation of the company’s resources and increasing its profitability.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold 13.29 percent stake, the Domestic Institutional Investors hold 10.73 percent and the Foreign Institutional Investors (FII) hold 9.98 percent.
Suzlon Energy is a green energy generation company and renewable energy solutions provider engaged in the business of manufacturing, project execution, operation and maintenance of wind turbine generators and sale of related components.
Written by: Bharath K.S
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