Suzlon Energy Share Price Target: Buy, Sell Or Hold Multibagger Wind Energy Stock Post Q2?

Suzlon Energy shares closed at Rs 68.14 on Bombay Stock Exchange (BSE) on November 1, 2024 with the gain of 1.76%. The company's market capitalisation stood at Rs 92,985.43 crore, according to BSE. Suzlon Energy on October 28 announced a surge of 96% in its consolidated net profit to Rs 201 crore for the quarter ended September 2024 as against Rs 102 crore reported in the similar quarter of last year. The company's revenue from operations announced at Rs 2093 crore, up 48% as compared to Rs 1417 crore declared in the similar quarter of last year.

It has so far declared 4 dividends since Feb 3, 2006 and no bonus share yet. Suzlon Energy split the face value once since January 21, 2008. It last sub-divided the face value of its shares from Rs 10 to Rs 2 in 2008. It announced a strong order inflow of 1.57 GW for September quarter and took its order book to all-time high of 5.1 GW to be executed in next 18 to 24 months. Key details below:

Suzlon Latest Shareholding

FII/FPI increased holdings from 21.53% to 23.72% in September 2024 quarter. Number of FII/FPI investors increased from 652 to 720 in September 2024 quarter. Mutual Funds have increased holdings from 3.82% to 4.14% in September 2024 quarter. Number of MF schemes increased from 23 to 28 in September 2024 quarter. Institutional Investors have increased holdings from 30.69% to 32.74% in September 2024 quarter, according to Trendlyne. Life insurance corporation of India has 1.02% stake in Suzlon as of Septemebr 2024 quarter.

Suzlon Energy Shares Performance

The 52-week high price of Suzlon Energy share on BSE is Rs 86.04 per share (as on 12/09/2024) and 52-week low price is Rs 31.35 per share (as on 02/11/2023). Suzlon Energy shares gained jumped 64% in last 6-months, rose 77% in 2024 and gained 117% in last 1-year. Suzlon Energy shares gained 731% in last 2-years and jumped 2647% in last 5-years.

Should You Buy Suzlon Shares

Nuvama maintained hold call for the stock with target price of Rs 67. The analyst said, "while we stay long-term positive on Suzlon Energy, the stock price is already factoring in the uptick in OI/profits at 45 times FY27E EPS of WTG business. We are tweaking FY25-27E to account for the Renom acquisition and ESOP charges in FY25E and FY26E, yielding a target price of Rs 67 at 35x FY27E WTG + F&F EPS + DCF of O&M; reiterate 'HOLD'."

Another brokerage firm JM Financial upgraded its target price to Rs 81 per share from Rs 71 for the wind energy stock

Suzlon Energy About

With over 29 years of operational track record, the Group has a diverse workforce of over 6,200 employees. Suzlon is also India's No. 1 wind energy service company with the largest portfolio of over 14.7 GW in wind energy assets. The Group has ~6 GW of installed capacity outside India, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of Nuvama and JM Financial. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.