With a market capitalization of Rs 12,907 crores, shares of Suzlon Energy Limited hiked 8 percent today and currently trade at Rs 11.50. In the last one-month period, the scrip has gained over 40 percent ranging from Rs 8.10 to the current price levels.
Such movements in the stock are observed after the company, through a regulatory filing with the BSE, announced its Q4 as well as Annual results for FY2022-23. The facts and figures pertaining to the same are discussed later on in the piece.
Suzlon Energy Limited is a company engaged in the business of providing Renewable Energy (RE) solutions. The company’s product portfolio comprises wind turbine generators, solar energy solutions, etc. It generates a majority of its revenue from India and overseas operations in Europe, Canada, and the USA.
Having a glance at the quarterly numbers reported by the company, the operating revenues went up from Rs 1,449 crores in Q3 to Rs 1,690 crores in Q4. Moreover, the net profits of the company, during the same period, showed a huge increase of 310 percent from Rs 78 crores to Rs 320 crores.
On a YoY basis, the above-mentioned metrics have shown opposing movements with the operating revenues going down from Rs 6,520 crores during FY21-22 to Rs 5,947 crores in Y22-23, and the company’s profits, on the contrary, transitioned from net losses of Rs 177 crores to net profits of Rs 2,887 crores.
The net profit margins of the company have seen improvements with the most recent shift being from negative margins of 2.52 percent during FY21-22 to positive margins of 48.35 percent.
According to the latest shareholding data for March 2023 quarter, Promoters of the company hold a 14.5 percent stake, and Foreign Institutional Investors hold a 6.6 percent stake in the company.
Written by Amit Madnani
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