Shares of this large-cap company locked a 5 percent upper circuit after receiving an order of 402 MW from Juniper Green Energy. The shares have delivered a multibagger return of 400 percent to its shareholders in one year.
With a market capitalization of Rs. 62,381 crores, the shares of Suzlon Energy Ltd started Wednesday’s trading session on a flatter note at Rs. 44.50 compared to its previous close of Rs. 44.05. During the trading session, the shares clocked 5 percent upper circuit at Rs. 46.25 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that they had won a new order for the development of 402 MW wind energy projects for Juniper Green Energy. Suzlon will install a total of 134 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3 MW for both projects at the Suzlon proposed site at Fatehgarh in Rajasthan.
As part of the agreement, Suzlon will supply the wind turbines and execute the project including foundation, erection, and commissioning and will also undertake comprehensive operations and maintenance services post‐commissioning.
Furthermore, the company stated that projects of this magnitude have the potential to supply electricity to 331,000 households and reduce CO2 emissions by 1.307 million tonnes annually.
Looking at the company’s financial statements, the revenue zoomed by 10 percent from Rs. 1,417.21 crores in the September quarter to Rs. 1,552.91 crores in the December quarter. In addition, the net profits magnified by 98 percent from Rs. 102.29 crores to Rs. 203.04 crores during the same period.
As of December 2023, Suzlon Energy Limited had a robust cumulative order book of 3,157 MW. In terms of project segment mix, 72 percent of the order book is for the EPC (Engineering, Procurement, and Construction) scope, while 28 percent is for the non-EPC segment.
Moreover, geographically the order book is spread across various states, with Karnataka contributing 36 percent, Andhra Pradesh 20 percent, Gujarat 14 percent, Tamil Nadu 14 percent, and Maharashtra 13 percent.
Incorporated in 1995, Suzlon Energy Ltd is engaged in the business of manufacturing wind turbine generators and related components with a presence in more than 15 countries across Asia, Australia, Europe, Africa, and America.
Written By Vaibhav Patil
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