Multibagger green energy stock declines marginally after the company’s board approves conversion of 16 lakh partly paid up shares into fully paid up shares.
At 12:15 p.m the shares of Suzlon Energy were trading at Rs. 27.60 down by 0.30 percent from its previous day close price and the market capitalization of the company is 37,354 Cr.
As per the company’s filing, the board of directors of Suzlon Energy has approved the conversion of 16,20,352 partly paid-up equity shares of the company having a face value of Rs.2.00 each with Rs.1.00 paid-up into fully paid-up equity shares having a face value of Rs.2.00 each with Rs.2.00 paid-up on receipt of First and Final Call aggregating to Rs.40,50,880.
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 June 2023 quarter, the company’s Promoters hold 14.50 percent stake, the Domestic Institutional Investors hold 6.90 percent and the Foreign Institutional Investors (FII) hold 6.81 percent.
Suzlon Energy is a green energy 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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