Key facts
- Suzlon Energy shares surged up to 6.5% to Rs 59.25 on Tuesday.
- The company presented an ambitious FY31 roadmap to transform into a broader renewable energy platform.
- Suzlon aims for over 25% CAGR revenue growth and to increase its Indian wind market share to over 40%.
- Brokerages including Motilal Oswal, JM Financial, Systematix, and Centrum maintain 'Buy' ratings with price targets ranging from Rs 65 to Rs 75.
- Fourth-quarter net profit declined 6% year-on-year to Rs 1,114 crore, while revenue rose 45% to Rs 5,468 crore.
Suzlon Energy shares surged as much as 6.5% to an intraday high of Rs 59.25 on Tuesday, extending gains for a fourth consecutive session. The company recently unveiled an ambitious roadmap for FY31, aiming to transform from a wind-focused entity into a broader renewable energy platform. This strategy includes targeting revenue growth of over 25% CAGR and increasing its share of India's wind market to over 40% from the current approximately 33%.
Following the announcement, several brokerages issued bullish calls. Motilal Oswal maintained a 'Buy' rating with a target price of Rs 65, citing the company's clear growth and diversification strategy. JM Financial echoed this sentiment with a similar rating and target, highlighting Suzlon's shift towards becoming an integrated renewable energy developer. Systematix Institutional Equities has a 'Buy' rating with a target of Rs 71, and Centrum also recommends 'Buy' with a target of Rs 75.
In its fourth quarter results, Suzlon Energy reported a 6% year-on-year decline in consolidated net profit to Rs 1,114 crore, compared to Rs 1,182 crore in the same period last year. However, revenue from operations increased significantly by 45% year-on-year to Rs 5,468 crore during the quarter. Sequentially, net profit jumped 150% from Rs 445 crore in the December quarter.