In Tuesday’s trading session, the shares of India’s largest renewable energy solutions provider surged by 5 percent on BSE to hit an intraday high at Rs. 57.82, after reporting financial results for Q1 FY24-25 with a rise in the net profit by nearly 200 percent YoY and 19 percent QoQ.
At 10:57 a.m., the shares of Suzlon Energy Limited were trading in the green at Rs. 57.77, up by 4.9 percent, as against its previous closing price of Rs. 55.07, with a market cap of Rs. 78,670 crores.
What’s the News:
The fluctuations in the share prices were observed after the company announced the financial results for Q1 FY24-25, through the recent filings with the stock exchanges on Monday post-market hours.
The consolidated revenue from operations for Q1 FY24-25 stood at Rs. 2,016 crore, marking an 8 percent QoQ rise from Rs. 2,179.2 crore in Q4 FY23-24, and a 50 percent increase year-on-year from Rs. 1,347.5 crore in Q1 FY23-24.
The net profit jumped by 200 percent to Rs. 302 crore in Q1 FY24-25 as against Rs. 101 crore in Q1 FY23-24, and on a quarter-on-quarter basis, it grew by 19 percent from Rs. 254 crore in Q4 FY23-24.
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Further, the company witnessed the highest quarterly EBITDA in 7 years at Rs. 370 crore in Q1 FY24-25 as against Rs. 199 crore in Q1 FY23-24, representing a growth of nearly 86 percent.
Suzlon has given the highest Q1 deliveries in 7 years at 274 MW, the largest-ever order book of 3.8 GW since inception (29 years), and has a 32% share of all India installed wind capacity.
As of June 2024, the company’s wind order book stood at 3,817 MW as against 2,929 MW in March 2024 and 2,290 MW in December 2023.
Shareholding Pattern:
As per the shareholding pattern of June 2024, the Promoters hold a 13.27 percent stake in the company, Foreign Institutional Investors (FII) hold a 21.53 percent stake, while Retail Investors and Domestic Institutional Investors (DII) hold a 56.03 percent and 9.17 percent stake in Suzlon Energy, respectively.
Stock performance:
The stock has delivered multibagger returns of nearly 188.4 percent in one year, while around 40 percent of positive returns in the last six months. So far in 2024, the shares of Suzlon Energy have given about 50 percent of positive returns.
About the company:
Headquartered in Pune, Suzlon Energy Limited is primarily engaged in the business of manufacturing, project execution, and operation & maintenance service (OMS) of Wind Turbine Generators (WTGs) and the sale of related components of various capacities.
Suzlon is also India’s No. 1 wind energy service company with the largest service portfolio of over 14.8 GW in wind energy assets and has nearly 6 GW of installed capacity outside India.
Written by Shivani Singh
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