Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹52.94, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 36x in the Electrical industry in India. Total returns to shareholders of 564% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹38.28 per share. Price Target Changed • Feb 09
Price target decreased by 9.8% to ₹65.45 Down from ₹72.55, the current price target is an average from 11 analysts. New target price is 36% above last closing price of ₹48.20. Stock is down 8.6% over the past year. The company is forecast to post earnings per share of ₹1.70 for next year compared to ₹1.52 last year. Announcement • Jan 28
Suzlon Energy Limited to Report Q3, 2026 Results on Feb 05, 2026 Suzlon Energy Limited announced that they will report Q3, 2026 results on Feb 05, 2026 Reported Earnings • Nov 06
Second quarter 2026 earnings released: EPS: ₹0.93 (vs ₹0.15 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.93 (up from ₹0.15 in 2Q 2025). Revenue: ₹38.7b (up 85% from 2Q 2025). Net income: ₹12.8b (up ₹10.8b from 2Q 2025). Profit margin: 33% (up from 9.6% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 93% per year, which means it is well ahead of earnings. Board Change • Nov 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. MD & Chairman Vinod Tanti was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 28
Suzlon Energy Limited to Report Q2, 2026 Results on Nov 04, 2025 Suzlon Energy Limited announced that they will report Q2, 2026 results on Nov 04, 2025 Reported Earnings • Aug 13
First quarter 2026 earnings released: EPS: ₹0.24 (vs ₹0.22 in 1Q 2025) First quarter 2026 results: EPS: ₹0.24 (up from ₹0.22 in 1Q 2025). Revenue: ₹31.2b (up 55% from 1Q 2025). Net income: ₹3.24b (up 7.3% from 1Q 2025). Profit margin: 10% (down from 15% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 99% per year, which means it is well ahead of earnings. Announcement • Aug 06
Suzlon Energy Limited to Report Q1, 2026 Results on Aug 12, 2025 Suzlon Energy Limited announced that they will report Q1, 2026 results on Aug 12, 2025 Reported Earnings • May 30
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: ₹1.52 (up from ₹0.50 in FY 2024). Revenue: ₹108.5b (up 67% from FY 2024). Net income: ₹20.7b (up 214% from FY 2024). Profit margin: 19% (up from 10% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) exceeded analyst estimates by 39%. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 99% per year, which means it is well ahead of earnings. Announcement • May 22
Suzlon Energy Limited to Report Q4, 2025 Results on May 29, 2025 Suzlon Energy Limited announced that they will report Q4, 2025 results on May 29, 2025 Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹61.22, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 37x in the Electrical industry in India. Total returns to shareholders of 647% over the past three years. Reported Earnings • Jan 29
Third quarter 2025 earnings released: EPS: ₹0.28 (vs ₹0.15 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.28 (up from ₹0.15 in 3Q 2024). Revenue: ₹29.7b (up 91% from 3Q 2024). Net income: ₹3.87b (up 91% from 3Q 2024). Profit margin: 13% (in line with 3Q 2024). Revenue is forecast to grow 38% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 64% per year, which means it is well ahead of earnings. Announcement • Jan 21
Suzlon Energy Limited to Report Q3, 2025 Results on Jan 28, 2025 Suzlon Energy Limited announced that they will report Q3, 2025 results on Jan 28, 2025 Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ₹54.08, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 44x in the Electrical industry in India. Total returns to shareholders of 745% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹28.35 per share. Announcement • Nov 08
Suzlon Energy Limited Announces Resignation of Ishwar Chand Mangal as CEO New Business Suzlon Energy Limited announced that Mr. Ishwar Chand Mangal, the CEO New Business and one of the SMPs of the Company, has resigned from the services of the Company with effect from close of business hours on 8th November 2024 and accordingly he will cease to be the SMP of the Company from the date of his resignation. Reported Earnings • Oct 29
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: ₹0.15 (up from ₹0.08 in 2Q 2024). Revenue: ₹20.9b (up 48% from 2Q 2024). Net income: ₹2.00b (up 96% from 2Q 2024). Profit margin: 9.6% (up from 7.2% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 5.7%. Earnings per share (EPS) also missed analyst estimates by 25%. Revenue is forecast to grow 40% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 116% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 21
Suzlon Energy Limited to Report Q2, 2025 Results on Oct 28, 2024 Suzlon Energy Limited announced that they will report Q2, 2025 results on Oct 28, 2024 Announcement • Aug 07
Suzlon Energy Limited (NSEI:SUZLON) agreed to acquire 76% stake in Renom Energy Services Private Limited from group of sellers for INR 6.6 billion. Suzlon Energy Limited (NSEI:SUZLON) agreed to acquire 51% stake in Renom Energy Services Private Limited from Ghodawat Energy Private Limited, Ghodawat Enterprises Pvt Ltd, Ghodawat Consumer Limited, Ghodawat Retail Private Limited and Fligen Systems Private Limited, Sanjay Danchand Ghodawat, Shrenik Sanjay Ghodawat, Ranjit Wadhokar for INR 4 billion on August 6, 2024. A cash consideration of INR 4 billion will be paid by Suzlon Energy Limited.
The proposed acquisition of 51% stake is expected to be completed in about three months, subject to fulfilment of the closing conditions under the share purchase agreement.
For the period ending March 31, 2024, Renom Energy Services Private Limited reported total revenue of INR 2.13 billion.
The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board. Price Target Changed • Jul 26
Price target increased by 13% to ₹63.88 Up from ₹56.70, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ₹61.91. Stock is up 243% over the past year. The company is forecast to post earnings per share of ₹1.20 for next year compared to ₹0.50 last year. Announcement • Jul 23
Suzlon Energy Limited, Annual General Meeting, Sep 10, 2024 Suzlon Energy Limited, Annual General Meeting, Sep 10, 2024. Reported Earnings • Jul 23
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: ₹0.22 (up from ₹0.08 in 1Q 2024). Revenue: ₹20.4b (up 52% from 1Q 2024). Net income: ₹3.02b (up 200% from 1Q 2024). Profit margin: 15% (up from 7.5% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 83%. Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 103% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 16
Suzlon Energy Limited to Report Q1, 2025 Results on Jul 22, 2024 Suzlon Energy Limited announced that they will report Q1, 2025 results on Jul 22, 2024 Announcement • Jun 10
Suzlon Energy Limited Announces Resignation of Marc Desaedeleer as Independent Director Suzlon Energy Limited announced resignation of Marc Desaedeleer as Independent Director of the Company with effect from June 8, 2024. Reported Earnings • May 25
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ₹0.50 (down from ₹2.64 in FY 2023). Revenue: ₹65.7b (up 10% from FY 2023). Net income: ₹6.60b (down 77% from FY 2023). Profit margin: 10% (down from 48% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 6.2%. Revenue is forecast to grow 42% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 101% per year, which means it is tracking significantly ahead of earnings growth. New Risk • May 25
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 27% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (27% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (10% net profit margin). Shareholders have been diluted in the past year (9.1% increase in shares outstanding). Buy Or Sell Opportunity • May 21
Now 21% overvalued Over the last 90 days, the stock has fallen 1.5% to ₹44.03. The fair value is estimated to be ₹36.28, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 154% in 2 years. Earnings are forecast to grow by 196% in the next 2 years. Announcement • May 19
Suzlon Energy Limited to Report Q4, 2024 Results on May 24, 2024 Suzlon Energy Limited announced that they will report Q4, 2024 results on May 24, 2024 Buy Or Sell Opportunity • Feb 29
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to ₹45.12. The fair value is estimated to be ₹36.91, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 159% in 2 years. Earnings are forecast to grow by 210% in the next 2 years. Buy Or Sell Opportunity • Feb 14
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 9.5% to ₹46.07. The fair value is estimated to be ₹36.85, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 159% in 2 years. Earnings are forecast to grow by 210% in the next 2 years. Announcement • Feb 13
Suzlon Energy Limited Appoints Vivek Srivastava as CEO - WTG Division Suzlon Energy Limited announced that Mr. Vivek Srivastava has been appointed as CEO - WTG Division reporting to the Group Chief Executive Officer of the Company with effect from 12 February 2024 and has been designated as one of the SMPs of the Company. Mr. Vivek Srivastava holds a bachelor's degree in engineering from Malaviya Regional Engineering College of 1991 batch. Mr. Vivek has a track record in leading and scaling business rapidly in the energy and mobility space. He started his career with BPCL, where he worked his way up for a decade, and thereafter worked at Reliance Industries (RIL) for over two decades in various capacities leading Network development, EPC & assets and handling various portfolios & initiatives across strategy and business development. Prior to joining Suzlon, Mr. Vivek was the Group CEO of Waaree reporting into the Board. Mr. Vivek was instrumental in Waaree's transformation into an integrated new energy player, expanding the business vertically and horizontally across the solar value chain and new energy segments. Reported Earnings • Feb 01
Third quarter 2024 earnings released: EPS: ₹0.15 (vs ₹0.07 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.15 (up from ₹0.07 in 3Q 2023). Revenue: ₹15.7b (up 8.3% from 3Q 2023). Net income: ₹2.03b (up 159% from 3Q 2023). Profit margin: 13% (up from 5.4% in 3Q 2023). Revenue is forecast to grow 44% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has increased by 90% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 25
Suzlon Energy Limited to Report Q3, 2024 Results on Jan 31, 2024 Suzlon Energy Limited announced that they will report Q3, 2024 results on Jan 31, 2024 Reported Earnings • Nov 04
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: ₹0.08 (up from ₹0.06 in 2Q 2023). Revenue: ₹14.2b (flat on 2Q 2023). Net income: ₹1.02b (up 78% from 2Q 2023). Profit margin: 7.2% (up from 4.0% in 2Q 2023). Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) also missed analyst estimates by 20%. Revenue is forecast to grow 39% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electrical industry in India. Announcement • Oct 27
Suzlon Energy Limited to Report Q2, 2024 Results on Nov 02, 2023 Suzlon Energy Limited announced that they will report Q2, 2024 results on Nov 02, 2023 Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹29.69, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 45x in the Electrical industry in India. Total returns to shareholders of 1,004% over the past three years. Announcement • Sep 27
Suzlon Energy Limited Announces Resignation of Hiten Timbadia as Director Suzlon Energy Limited informed that simultaneously with the termination of the Agreement, Mr. Hiten Timbadia, the Investor Group's nominee director on the Board of the Company, has also resigned as Director of the Company with effect from 26th September 2023. Valuation Update With 7 Day Price Move • Sep 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹25.92, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 45x in the Electrical industry in India. Total returns to shareholders of 854% over the past three years. Announcement • Jul 26
Suzlon Energy Limited, Annual General Meeting, Sep 27, 2023 Suzlon Energy Limited, Annual General Meeting, Sep 27, 2023. New Risk • Jul 26
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 8.7% Last year net profit margin: 33% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.8x net interest cover). Share price has been highly volatile over the past 3 months (10.0% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (8.7% net profit margin). Shareholders have been diluted in the past year (27% increase in shares outstanding). Reported Earnings • Jul 26
First quarter 2024 earnings released: EPS: ₹0.08 (vs ₹2.57 in 1Q 2023) First quarter 2024 results: EPS: ₹0.08 (down from ₹2.57 in 1Q 2023). Revenue: ₹13.6b (down 1.2% from 1Q 2023). Net income: ₹1.01b (down 96% from 1Q 2023). Profit margin: 7.4% (down from 177% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 123% per year but the company’s share price has only increased by 59% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹16.86, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 27x in the Electrical industry in India. Total returns to shareholders of 227% over the past three years. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹14.40, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 24x in the Electrical industry in India. Total returns to shareholders of 245% over the past three years. Reported Earnings • Jun 02
Full year 2023 earnings released: EPS: ₹2.64 (vs ₹0.22 loss in FY 2022) Full year 2023 results: EPS: ₹2.64 (up from ₹0.22 loss in FY 2022). Revenue: ₹59.9b (down 8.1% from FY 2022). Net income: ₹28.5b (up ₹30.5b from FY 2022). Profit margin: 48% (up from net loss in FY 2022). Over the last 3 years on average, earnings per share has increased by 134% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth. Announcement • May 23
Suzlon Energy Limited to Report Q4, 2023 Results on May 30, 2023 Suzlon Energy Limited announced that they will report Q4, 2023 results at 12:08 PM, Indian Standard Time on May 30, 2023 Valuation Update With 7 Day Price Move • May 23
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹9.46, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 23x in the Electrical industry in India. Total returns to shareholders of 277% over the past three years. Reported Earnings • Feb 10
Third quarter 2023 earnings released: EPS: ₹0.07 (vs ₹0.04 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.07 (up from ₹0.04 in 3Q 2022). Revenue: ₹14.6b (down 8.3% from 3Q 2022). Net income: ₹783.6m (up 108% from 3Q 2022). Profit margin: 5.4% (up from 2.4% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 125% per year but the company’s share price has only increased by 58% per year, which means it is significantly lagging earnings growth. Announcement • Feb 02
Suzlon Energy Limited to Report Q3, 2023 Results on Feb 09, 2023 Suzlon Energy Limited announced that they will report Q3, 2023 results on Feb 09, 2023 Announcement • Jan 07
Suzlon Ltd Announces Management Changes Suzlon Ltd. announced that it has received shareholders' approval to appoint new leadership of the company following a voting process. The shareholders greenlit the appointment of Vinod R. Tanti, as the managing director of the company, his brother Girish R. Tanti as the executive director without remuneration, and relative Pranav T. Tanti as the director. The proposals to appoint were approved by requisite majority. Vinod and Girish Tanti are the brothers of late Tulsi Tanti, the founder, chairman and managing director of the Suzlon group who unexpectedly passed away on October 1, 2022. Pranav Tanti is the late founder's son. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 15% share price gain to ₹10.75, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 23x in the Electrical industry in India. Total returns to shareholders of 474% over the past three years. Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment improved over the past week After last week's 17% share price gain to ₹9.24, the stock trades at a trailing P/E ratio of 4.7x. Average trailing P/E is 22x in the Electrical industry in India. Total returns to shareholders of 345% over the past three years. Board Change • Nov 16
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Non-Executive Director Pranav Tanti was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 12
Second quarter 2023 earnings released: EPS: ₹0.06 (vs ₹0.013 loss in 2Q 2022) Second quarter 2023 results: EPS: ₹0.06 (up from ₹0.013 loss in 2Q 2022). Revenue: ₹14.4b (up 7.1% from 2Q 2022). Net income: ₹574.3m (up ₹679.8m from 2Q 2022). Profit margin: 4.0% (up from net loss in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 49% per year, which means it is significantly lagging earnings growth. Announcement • Nov 03
Suzlon Energy Limited to Report Q2, 2023 Results on Nov 10, 2022 Suzlon Energy Limited announced that they will report Q2, 2023 results on Nov 10, 2022 Announcement • Oct 21
Suzlon Energy Limited has completed a Follow-on Equity Offering in the amount of INR 12 billion. Suzlon Energy Limited has completed a Follow-on Equity Offering in the amount of INR 12 billion.
Security Name: Equity Shares
Security Type: Common Stock
Securities Offered: 2,400,000,000
Price\Range: INR 5
Transaction Features: Regulation S; Rights Offering Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment improved over the past week After last week's 33% share price gain to ₹9.24, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 24x in the Electrical industry in India. Total returns to shareholders of 274% over the past three years. Announcement • Sep 30
Suzlon Energy Limited Appoints Ajay Mathur as Director Suzlon Energy Limited at its Annual General Meeting held on September 29, 2022, approved to appoint Mr. Ajay Mathur, a nominee of REC Limited as Director. Recent Insider Transactions • Sep 08
Insider recently sold ₹68k worth of stock On the 2nd of September, Karishma Bagrecha sold around 8k shares on-market at roughly ₹8.95 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹7.6m. Insiders have been net sellers, collectively disposing of ₹39m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Sep 06
Investor sentiment improved over the past week After last week's 31% share price gain to ₹10.71, the stock trades at a trailing P/E ratio of 4.6x. Average trailing P/E is 22x in the Electrical industry in India. Total returns to shareholders of 281% over the past three years. Board Change • Sep 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Nominee Director Ajay Mathur was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Aug 24
Insider recently sold ₹7.6m worth of stock On the 17th of August, Siddharth Bagrecha sold around 1m shares on-market at roughly ₹7.65 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹45m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improved over the past week After last week's 17% share price gain to ₹8.97, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 20x in the Electrical industry in India. Total returns to shareholders of 113% over the past three years. Reported Earnings • Aug 12
First quarter 2023 earnings released: EPS: ₹2.57 (vs ₹0.03 loss in 1Q 2022) First quarter 2023 results: EPS: ₹2.57 (up from ₹0.03 loss in 1Q 2022). Revenue: ₹13.8b (up 22% from 1Q 2022). Net income: ₹24.3b (up ₹24.6b from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • Aug 05
Suzlon Energy Limited to Report Q1, 2023 Results on Aug 10, 2022 Suzlon Energy Limited announced that they will report Q1, 2023 results at 4:00 PM, Indian Standard Time on Aug 10, 2022 Recent Insider Transactions • Jun 25
Insider recently bought ₹7.4m worth of stock On the 21st of June, Ranjitsinh Parmar bought around 1m shares on-market at roughly ₹7.38 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold ₹39m more in shares than they bought in the last 12 months. Recent Insider Transactions • Jun 11
Insider recently bought ₹3.9m worth of stock On the 6th of June, Balrajsinh Parmar bought around 440k shares on-market at roughly ₹8.86 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold ₹41m more in shares than they bought in the last 12 months. Announcement • Jun 10
Suzlon Energy Limited Announces Resignation of Rakesh Sharma as Director The board of Suzlon Energy Limited announced that State Bank of India vide its letter dated June 8, 2022 has withdrawn its nominee, Mr. Rakesh Sharma (DIN: 06695734) has resigned and ceased to be the Director of the Company with immediate effect. Reported Earnings • May 28
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: ₹0.22 loss per share (down from ₹0.14 profit in FY 2021). Revenue: ₹66.0b (up 100% from FY 2021). Net loss: ₹2.00b (down 292% from profit in FY 2021). Revenue missed analyst estimates by 4.1%. Earnings per share (EPS) also missed analyst estimates by 9.9%. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • May 19
Suzlon Energy Limited to Report Q4, 2022 Results on May 25, 2022 Suzlon Energy Limited announced that they will report Q4, 2022 results on May 25, 2022 Buying Opportunity • Apr 27
Now 19% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be ₹12.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.7% over the last 3 years. Earnings per share has grown by 56%. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Director Hiten Timbadia was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Mar 30
Insider recently sold ₹1.9m worth of stock On the 24th of March, Bipin Shah sold around 200k shares on-market at roughly ₹9.48 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹8.2m. Insiders have been net sellers, collectively disposing of ₹52m more than they bought in the last 12 months. Recent Insider Transactions • Mar 23
Insider recently sold ₹3.5m worth of stock On the 17th of March, Bipin Shah sold around 350k shares on-market at roughly ₹9.96 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹8.2m. Insiders have been net sellers, collectively disposing of ₹53m more than they bought in the last 12 months. Recent Insider Transactions • Mar 10
Insider recently sold ₹1.1m worth of stock On the 4th of March, Lancy Tauro sold around 108k shares on-market at roughly ₹10.16 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹8.2m. Insiders have been net sellers, collectively disposing of ₹49m more than they bought in the last 12 months. Buying Opportunity • Mar 07
Now 22% undervalued Over the last 90 days, the stock is up 37%. The fair value is estimated to be ₹12.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.7% per annum over the last 3 years. Earnings per share has grown by 56% per annum over the last 3 years. Recent Insider Transactions • Feb 24
Insider recently sold ₹1.1m worth of stock On the 17th of February, Sandeep Lonkar sold around 100k shares on-market at roughly ₹10.69 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹8.2m. Insiders have been net sellers, collectively disposing of ₹48m more than they bought in the last 12 months. Buying Opportunity • Feb 18
Now 23% undervalued Over the last 90 days, the stock is up 47%. The fair value is estimated to be ₹13.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.7% per annum over the last 3 years. Earnings per share has grown by 56% per annum over the last 3 years. Recent Insider Transactions • Feb 17
Insider recently sold ₹8.2m worth of stock On the 10th of February, Rohit Chauhan sold around 780k shares on-market at roughly ₹10.52 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹47m more than they bought in the last 12 months. Reported Earnings • Jan 30
Third quarter 2022 earnings: Revenues miss analyst expectations Third quarter 2022 results: Revenue: ₹16.2b (up 72% from 3Q 2021). Net income: ₹376.9m (up ₹1.55b from 3Q 2021). Profit margin: 2.3% (up from net loss in 3Q 2021). Revenue missed analyst estimates by 4.1%. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jan 30
Now 20% undervalued Over the last 90 days, the stock is up 61%. The fair value is estimated to be ₹14.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.8% per annum over the last 3 years. Earnings per share has grown by 50% per annum over the last 3 years. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment improved over the past week After last week's 16% share price gain to ₹7.17, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 28x in the Electrical industry in India. Total returns to shareholders of 34% over the past three years. Recent Insider Transactions • Sep 30
Insider recently sold ₹16m worth of stock On the 23rd of September, Rashmi Rathod sold around 2m shares on-market at roughly ₹6.42 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹30m more than they bought in the last 12 months. Recent Insider Transactions • Aug 26
Insider recently sold ₹2.9m worth of stock On the 20th of August, Subodh Dubey sold around 500k shares on-market at roughly ₹5.75 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹7.4m more than they bought in the last 12 months. Reported Earnings • Aug 15
First quarter 2022 earnings released: ₹0.03 loss per share (vs ₹0.73 loss in 1Q 2021) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2022 results: Revenue: ₹11.5b (up 124% from 1Q 2021). Net loss: ₹224.4m (loss narrowed 94% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹6.27, the stock trades at a trailing P/E ratio of 47.5x. Average trailing P/E is 29x in the Electrical industry in India. Total loss to shareholders of 21% over the past three years. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment improved over the past week After last week's 15% share price gain to ₹8.85, the stock trades at a trailing P/E ratio of 65.7x. Average trailing P/E is 27x in the Electrical industry in India. Total returns to shareholders of 16% over the past three years. Reported Earnings • Jul 02
Full year 2021 earnings released: EPS ₹0.14 (vs ₹4.97 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹32.9b (up 12% from FY 2020). Net income: ₹1.04b (up ₹27.5b from FY 2020). Profit margin: 3.2% (up from net loss in FY 2020). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Executive Departure • Jun 06
Chief Financial Officer Swapnil Jain has left the company On the 31st of May, Swapnil Jain's tenure as Chief Financial Officer ended after 2.0 years in the role. We don't have any record of a personal shareholding under Swapnil's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 4.67 years. Recent Insider Transactions • Apr 04
Insider recently sold ₹3.0m worth of stock On the 26th of March, Kritikant Vagadia sold around 541k shares on-market at roughly ₹5.46 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Feb 06
Third quarter 2021 earnings released: ₹0.14 loss per share (vs ₹1.38 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: ₹9.60b (up 47% from 3Q 2020). Net loss: ₹1.17b (loss narrowed 84% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Announcement • Jan 29
Suzlon Energy Limited to Report Q3, 2021 Results on Feb 04, 2021 Suzlon Energy Limited announced that they will report Q3, 2021 results on Feb 04, 2021 Is New 90 Day High Low • Dec 14
New 90-day high: ₹4.13 The company is up 24% from its price of ₹3.32 on 15 September 2020. The Indian market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electrical industry, which is up 21% over the same period. Reported Earnings • Nov 11
Second quarter 2021 earnings released: EPS ₹0.83 The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: ₹7.37b (down 8.3% from 2Q 2020). Net income: ₹6.76b (up ₹14.2b from 2Q 2020). Profit margin: 92% (up from net loss in 2Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 38% per year, which means it has not declined as severely as earnings. Announcement • Nov 04
Suzlon Energy Limited to Report Q2, 2021 Results on Nov 10, 2020 Suzlon Energy Limited announced that they will report Q2, 2021 results on Nov 10, 2020 Announcement • Oct 18
Suzlon Energy Limited Appoints Ashwani Kumar as the Chief Executive Office Suzlon Energy Limited Board of Directors, at its meeting held on 16 October 2020 approved appointment of Mr. Ashwani Kumar as the Chief Executive Officer and one of the key managerial personnel of the
Company, to act as the Group Chief Executive Officer, with effect from 19th October 2020. Mr. Ashwani Kumar, with over three decades of experience in the areas of finance, projects and business development at leading Indian Power and Infrastructure companies is a Mechanical Engineer, and an alumnus of IIM Bangalore and Harvard Business School. He has led construction of over 6,000 MW power projects from bidding to commercial operations.