Green Energy stock engaged in the generation of renewable energy and providing full-stack solutions related to it jumped 4 percent in the day’s trade upon receiving a 103.95 MW Wind Power Project.
With a market capitalization of Rs. 65,978.73 Crores, the shares of Suzlon Energy Limited were trading at Rs. 48.49 per equity share, up 2.37 percent from its previous day’s close price of Rs. 47.35.
Suzlon Energy Limited has received a new work order from AMPIN Energy Transition Private Limited for the development of a 103.95 MW wind power project. This order is for the company’s larger rated 3.15 MW, S144‐140m turbines from the 3 MW product series.
As part of the agreement, Suzlon will supply the wind turbines and execute the project, including erection and commissioning. It will also undertake comprehensive operations and maintenance services post‐commissioning.
Suzlon will install 33 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW each at the client’s site in the Fatehgarh district in Rajasthan.
Vivek Srivastava, Chief Executive Officer, India Business, Suzlon Group, said, “Suzlon and AMPIN Energy Transition are committed to the expansion of renewable energy in India. Going forward, we will see the industry add on increasing volumes of hybrid renewable energy projects, which will be the cornerstone of effective energy transition.
We are delighted that this order is part of a larger hybrid project from SECI bids and C&I requirements. We stand committed to powering India Inc.’s growth with sustainable energy solutions. Every Suzlon turbine is manufactured in India through a thriving domestic ecosystem, which is a testament to ‘Make in India’ and ‘Aatmanirbhar Bharat,’ contributing to a greener world.”
In Addition, the company’s independent director, Marc Desaedeleer quit over the weekend, citing corporate governance, and transparency issues as it didn’t meet his expectations.
Further, ICICI Securities has maintained a BUY rating on the equity shares of Suzlon Limited with a target price of Rs. 60, indicating an upside potential of upto 25 percent from its current market price of Rs. 48.
Suzlon Energy Limited is engaged in the generation of renewable energy and providing full-stack solutions related to it like manufacturing, project execution, operation, and maintenance of wind turbine generators and sale of related components.
Its revenue from operations grew by 28.95 percent from Rs. 1,689.91 Crores in Q4FY23 to Rs. 2,179.2 Crores in Q4FY24, accompanied by profits of Rs. 319.99 Crores to Rs. 254.12 Crores.
In terms of return ratios, it has reported a return on equity (ROE) of 28.4 percent and a return on capital employed (ROCE) of 24.7 percent, and a debt-to-equity ratio of 0.04.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
