The share price of India’s No.1 wind service company that has the largest portfolio of 13.9 GW of wind energy assets, has climbed from about Rs 8.10 per share to present levels, resulting in a multibagger return of 116% in the previous two months.
Suzlon energy ltd shares were trading at Rs 17.50 each on Friday, with a market value of Rs 21,537 crores.
Suzlon declared a profit of Rs. 167 crores, the largest in six years, and has made its net worth positive after a decade.Suzlon has decreased its net debt by 80% YoY to Rs 1,180 crore in FY23.
Here are the reasons why Suzlon Energy is on a Bull run
● Suzlon raised funds through right issues of Rs 1,200 crore in October 2022, and with those proceeds, the company repaid their debt of Rs 583.5 crore.
● The company received large orders from government and private companies, After introducing a new 3MW product series,propelling it to 20 GW of worldwide wind energy installation and a 33% cumulative wind energy market share in India.
● Following the introduction of a new product series of 3MW for low wind sites, which gained improved energy yields while lowering energy costs, this Company bagged development of a 69.3 MW wind power project for Juniper Green Energy Private Limited, as well as another order of 99 MW wind turbine generators featuring its new 3 MW series with a Hybrid Lattice Tubular tower.
● The company’s management revealed its future plans with investors, who perceived it as a promising indication and invested money in bulk transactions.
A company’s order books have increased dramatically. Suzlon’s portfolio includes models ranging from 225kW to the recently released 3MW series, which accounts for 51% of the current order book of 1,542MW.
Based on the above-mentioned company’s strategy, earnings increased by 1800% to Rs 2,887 crore in FY23, resulting in a net worth of Rs 1,100 crore.
Company’s Operating revenue climbed by 16 percent to Rs 1,694 in Q4 compared to the previous quarter, Similarly, net profit increased 309 percent to Rs 319 crore.
The share of foreign institutional investors has grown from 5.52 percent in March 2022 to 7.64 percent in March 2023.
Written by Omkar Chitnis
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