Shares of this large-cap company jumped 4 percent in Wednesday’s trading session after receiving an order from Aditya Birla Group. The shares have delivered a multibagger return of 340 percent to its shareholders in one year.
With a market capitalization of Rs. 61,612 crores, the shares of Suzlon Energy Ltd started Wednesday’s trading session on a flatter note at Rs. 43.90 compared to its previous close of Rs. 43.95. During the trading session, the shares hit a high of Rs. 46, gaining around 4 percent and are currently trading at Rs. 45.65 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that they had secured a new 551.25 MW order for the 3 MW series from Aditya Birla Group. The order is to be executed across two sites, 368.55 MW at the site developed by Suzlon in the Barmer district, Rajasthan and another 182.70 MW at the site developed by the client in the Bhuj district, Gujarat.
As part of the agreement, Suzlon will install 175 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW each at sites in the Barmer district in Rajasthan and Bhuj district in Gujarat and will also undertake comprehensive operations and maintenance services post‐ commissioning at both sites.
Aditya Birla Group will use the power generated from these projects for captive usage and such a project can provide electricity to nearly 4.54 lakh households and curb 17.92 lakh tonnes of Carbon Dioxide emissions per year.
Coming onto the company’s financial statements, the revenue zoomed by 40 percent from Rs. 1,552.91 crores during the December quarter to Rs. 2,179.2 crores during the March quarter. In addition, the net profits increased by 25 percent from Rs. 203.04 crores to Rs. 254.12 crores during the same period.
Earlier, last week, the company won a new order for the development of 402 MW wind energy projects for Juniper Green Energy. Which, 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 the projects in Rajasthan.
As of May 2024, the company recorded the Largest ever order book of 3.3 GW, this includes the order book as of March 31, 2024, of 2,929 MW, plus orders secured subsequently of 402 MW.
Moreover, the order book is geographically 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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