FIIs bought 29,90,10,005 shares: Wind energy stock under Rs 80 rockets over 5 per cent; Company reports 96 per cent YoY PAT growth to Rs 201 crore with robust order book

The shares of the company saw a spurt in volume by more than 1.50 times on BSE.

On Monday, one of the Top Gainers on BSE, shares of Suzlon Energy Ltd gained 5.07 per cent to Rs 70.85 per share with an intraday high of Rs 72.66 and an intraday low of Rs 66.31. The stock’s 52-week high is Rs 86.04 and its 52-week low is Rs 30.11. The shares of the company saw a spurt in volume by more than 1.50 times on BSE.

 Suzlon Group, India’s largest renewable energy solutions provider, reported its second quarter results for the financial year 2024‐25 (Q2FY25) ending on September 30, 2024. 

Results: According to Quarterly Results, the net sales increased by 48 per cent to Rs 2,093 crore, EBITDA increased by 31 per cent to Rs 294 crore and net profit increased by 96 per cent to Rs 201 crore in Q2FY25 compared to Q2FY24. In its annual results, the net sales increased by 9.4 per cent to Rs 6,529.1 crore and net profit decreased by 77 per cent to Rs 660.35 crore in FY24 over FY23. The company maintained a robust financial position with a net cash balance of Rs 1,277 crore as of September 30, 2024.

Suzlon Group delivered a strong performance in Q2 FY25, meeting market expectations with 256 MW of net volumes. The company's order book reached an all-time high of 5.1 GW, including India's largest wind order from NTPC. Key highlights for the quarter include signing a 1,166 MW wind energy order from NTPC Renewable Energy Limited, executing definitive agreements to acquire a 76 per cent stake in Renom Energy Services, and securing a significant 400 MW order from JSP Green Wind 1 Pvt Ltd., the industry's largest C&I win.

Suzlon's latest innovation, the S144 wind turbine, designed for low-wind conditions, has secured a firm order book of 4.7 GW. The company is actively enhancing its manufacturing capacity to meet the growing demand for this product. By monetizing non-core assets and pursuing an asset-light strategy, Suzlon aims to unlock capital for funding the execution of its expanding order book.

Suzlon is one of the leading global renewable energy solutions providers. It is a vertically integrated WTG manufacturer. It also undertakes installation and O&M of all WTG sales. Operations include design development and manufacturing of all major components, including rotor blades, tubular towers, generators, control equipment, gears and nacelles. Apart from manufacturing, it offers a full gamut of wind project planning and execution services, including wind resource assessment, infrastructure and power evacuation, technical planning and execution of wind power projects. It also offers O&M services in India and overseas countries.

Suzlon Energy Ltd is a mid-sized company in the power sector, listed on the Bombay Stock Exchange (BSE) & National Stock Exchange (NSE) with a market capitalization surpassing Rs 96,000 crore. The company is also included in the BSE's Power Index, reflecting its focus on the power industry. As of September 30, 2024, Suzlon has a healthy order book of 5,100 megawatts, indicating upcoming projects and potential revenue generation. In September 2024, FIIs bought 29,90,10,005 shares and increased their stake to 23.73 per cent and DIIs decreased their stake to 9.02 per cent stake compared to 21.53 per cent and 9.16 per cent respectively, in June 2024. The stock gave multibagger returns of 125 per cent in 1 year and a whopping 2,840 per cent in 5 years. Investors should keep an eye on this mid-cap power stock.

Disclaimer: The article is for informational purposes only and not investment advice.