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Suzlon Energy Ltd (SUZLON)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532667 NSE: SUZLON Electric Equipment | Mid Cap | Suzlon Energy Share Price

₹43.38 0.08 (0.18%)

As on 21-Sep'26 16:01

Suzlon Energy Ltd (SUZLON)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532667 NSE: SUZLON Electric Equipment | Mid Cap | Suzlon Energy Share Price

₹43.38 0.08 (0.18%)

As on 21-Sep'26 16:01

Key Metrics
Valuation Multiples
Market Cap
₹59,519 Cr.
Current Price
₹43.4
52-Week Low / High
₹38 / 61
TTM EPS
₹2.3
TTM Sales
₹17,381 Cr.
Book Value per Share
₹7
P/E Ratio
18.93
Higher than its 5-year historical median
Industry PE
54
Price to Book (P/B)
6.17
Lower than its 5-year historical median
Price to Sales (P/S)
3.42
Lower than its 5-year historical median
EV/EBITDA
18.71
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
41.32%
Outperforms industry median
Return on Capital Employed (ROCE)
35.79%
In line with industry median
Return on Assets (ROA)
21.24%
Operating Profit Margin
18.3%
Net Profit Margin
18.91%
Gross Profit Margin
16%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
47.99%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
68.3%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
52.7%
Asset Quality
Promoter Holding
11.71%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹6,894 Cr.
Equity
₹2,749.1 Cr.
Face Value
₹2
All Time Low / High
₹1.51 / 422.26

Suzlon Energy stock performance

Key Ratios
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Check Before You Invest

Valuation

Fair

Price Trend

Weak
Q.1 Is Suzlon Energy Ltd a good quality company?
Suzlon Energy Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Suzlon Energy Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Suzlon Energy Ltd vs industry peers?
Suzlon Energy Ltd revenue CAGR is 37.98%, compared to the industry median CAGR of 33.54%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Suzlon Energy Ltd?
Promoters hold 11.71% of the Suzlon Energy Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Suzlon Energy Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 11.5% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Suzlon Energy Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 18.5%0.9%-173.2%-310.5%48.2%-23%126.4%24.7%38.7%51.6%-
Value Creation
Index
0.4-0.9NANANANA8.41.22.43.6-

Growth Parameters

Sales 9,2465,9772,5443761,2474,0403,5903,86010,19815,09215,502
Sales YoY Gr.--35.4%-57.5%-85.2%231.8%223.9%-11.1%7.5%164.2%48%-
Adj EPS 2.1-1.9-12.7-5.2-1-0.90.30.11.52.43
YoY Gr.--188.2%NANANANANA-81.8%2400%62%-
BVPS (₹) 1.80.5-12.1-17.7-4.6-4.11.22.647.17.3
Adj Net
Profit
1,162-1,086-7,344-3,016-960-90041385.92,0453,3264,069
Cash Flow from Ops. 2,801-796450-1,257-161-74.5-17.2-5969161,291-
Debt/CF from Ops. 2.2-9.215.1-9.5-29.7-57.2-135.6-1.100-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 5.6%64.7%61.4%48%
Adj EPS 1.5%NA94.6%62%
BVPS16.6%NA82.7%78.5%
Share Price 11.5% 49.1% 19.4% -28.1%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
142.9-157.9220.234.913.522.9-33.43.446.443.341.3
Op. Profit
Mgn %
18.612.3-5.3-186.6-82.22.55.91619.118.1
Net Profit
Mgn %
12.6-18.2-288.8-802.3-76.9-22.311.52.220.12226.3
Debt to
Equity
6.323.9-1-1.2-1.1-11.60.200-
Working Cap
Days
3164868813,753781235314378250253114
Cash Conv.
Cycle
-4751421,39446-61320627238

Valuation of Suzlon Energy - Consolidated

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales12,7148,1165,0252,9733,3466,5825,9716,52910,89016,732
Operating Expenses + 10,5327,1605,1023,8332,8115,7545,1495,5009,09413,709
Manufacturing Costs553370316193239460419404623835
Material Costs7,5435,1162,9981,8741,5774,3323,7833,9826,88710,803
Employee Cost 1,0468058747965535456097039421,100
Other Costs 1,390869913970442417338411642971
Operating Profit 2,182956-77-8605348288221,0291,7963,022
Operating Profit Margin (%) 17.2%11.8%-1.5%-28.9%16.0%12.6%13.8%15.8%16.5%18.1%
Other Income + 4061261182820833039165110
Exceptional Items 045028-66805832,721-54070
Interest 1,2881,5811,2701,367996735421164255462
Depreciation 389342342419258260260190259318
Profit Before Tax 912-391-1,543-2,68410502,8926591,4472,422
Tax 12-2-12751674-1-625-742
Profit After Tax 900-389-1,531-2,691100-1662,8876602,0723,163
PAT Margin (%) 7.1%-4.8%-30.5%-90.5%3.0%-2.5%48.4%10.1%19.0%18.9%
Adjusted EPS (₹)1.6-0.7-2.6-4.60.1-0.22.30.51.52.3
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + -6,900-7,016-8,498-10,983-3,588-3,7581,0993,8915,9839,334
Share Capital 1,0051,0641,0641,0641,7021,8432,4542,7222,7322,745
Reserves -7,904-8,080-9,562-12,047-5,289-5,601-1,3551,1693,2516,589
Debt +6,91711,6059,6249,6866,2035,6191,55990262238
Long Term Debt4,8417,7166,2448426,0275,5921,51750129103
Short Term Debt2,0763,8893,3808,844175274240132135
Minority Interest910-5-59-58-360000
Trade Payables4,8122,5272,1751,2981,5821,8408951,7962,9355,083
Others Liabilities 7,3213,9945,5756,5882,4622,7911,9701,3983,1352,819
Total Liabilities 12,16011,1218,8716,5306,6016,4575,5237,17512,31517,474

Fixed Assets

Net Fixed Assets +1,6311,4221,4821,3241,1331,0288378591,7542,271
Gross Block2,3712,4722,8663,1153,1523,1402,6122,7113,7724,577
Accumulated Depreciation7401,0501,3831,7912,0192,1121,7751,8512,0182,306
CWIP 20635322912210720620105190
Investments 6706720202300843217
Inventories3,4693,0262,9142,0562,1732,2081,8272,2923,2344,512
Trade Receivables3,6282,9851,8811,3651,1901,3771,1701,8303,8666,269
Cash Equivalents 33658175822635003674271,1131,246
Others Assets 2,2212,6862,2701,5621,7121,3241,3151,7392,2002,770
Total Assets 12,16011,1218,8716,5306,6016,4575,5237,17512,31517,474
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 1,602-1091,267-9295311,302491801,0921,202
PBT 912-391-1,543-2,68410502,8926591,4472,422
Adjustment 1,5511,4901,9062,3575721,135-1,867501537910
Changes in Working Capital -799-1268894-595-159157-519-1061-890-2054
Tax Paid -625910-8139-15-20-2-75
Cash Flow From Investing Activity + -643-133125-32-24-1885-152-752-914
Capex -391-654-247-100-36-76-14-226-368-576
Net Investments -1855102025000-8-34-166
Others -67113524212579983-349-172
Cash Flow From Financing Activity + -1,249492-1,898969-327-1,045-709132343-155
Net Proceeds from Shares 000034201,0802,0652293
Net Proceeds from Borrowing -402-273-286-4,175-191-575-1,354-1,80261-41
Interest Paid -1,028-1,048-1,103-443-409-322-425-107-100-191
Dividend Paid 0000000000
Others 1811,813-5105,587-69-149-9-25360-16
Net Cash Flow -290249-5068180239-13360683133
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)N/AN/AN/AN/AN/AN/A026.4741.9741.32
ROCE (%)N/AN/AN/AN/AN/AN/A112.8823.4232.6635.79
Asset Turnover Ratio1.160.70.50.390.511.0111.031.121.12
PAT to CFO Conversion(x)1.78N/AN/AN/A5.31N/A0.170.120.530.38
Working Capital Days
Receivable Days88.20148.70176.70199.20139.3071.2077.9083.9095.50110.60
Inventory Days86146.10215.80305.10230.70121.50123.30115.2092.6084.50
Payable Days188.30261.80286.20338.30333.30144.20132123.30125.40135.50

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Suzlon Energy Ltd FAQs

The current trading price of Suzlon Energy on 21-Sep-2026 16:01 is ₹43.38.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 20-Sep-2026 the market cap of Suzlon Energy stood at ₹59,518.6 Cr

The latest P/E ratio of Suzlon Energy as of 20-Sep-2026 is 14.62.

The latest P/B ratio of Suzlon Energy as of 20-Sep-2026 is 5.95.

The 52-week high of Suzlon Energy is ₹61.45 and the 52-week low is ₹38.17.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Suzlon Energy is ₹15,502 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Suzlon Energy Ltd is a good quality company.

The key valuation ratios of Suzlon Energy Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Suzlon Energy Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Suzlon Energy Ltd

Suzlon energy is leader in wind energy in the India, which is world’s fifth largest wind energy market .The company, which was established in 1995, now has global presence. Its business model has range of services that include development, manufacturing, marketing, EPC project delivery & operations and maintenance of wind turbine generators around the world. It is Asia’s strongest growing fully integrated wind power company and ranks amongst the top ten in the world. The company, in just a decade of its operation, has installed over 3 Gigawatt of wind turbine capacity in projects around the world. Suzlon’s emphasis on higher efficiency, reduced stresses, power quality, high performance and reliability, low operation costs, and increased safety delivering high performance turbines ensuring increased returns on investment.

Business area of the company

Suzlon is a pioneer in providing end-to-end wind power solutions for increasing demand for wind energy over the world. It has state of the art R & D centers & training campuses in India. It believes in combining global experience with local expertise to maximize techno-economic value for their clients. It offers turbines in customized versions for installation in accordance to climate ranging from hot, dry deserts to humid coasts, to near-freezing plains.

Products

Suzlon S111 Wind Turbine: The S111 Wind Turbine Generator with a rotor diameter of 111.8 metres has been designed for higher energy generation and better return on investment.

Suzlon S120 Wind Turbine: Built on the highly successful 2.1 MW platform. With S120, Suzlon has yet again redefined the benchmark and built a world-class product specifically for low wind sites found commonly in India.

Suzlon S128 Wind Turbine: India’s largest wind turbine with hub-height of 140M and swept area of more than 13,000 sq. mts, the S128 is shifting the paradigm in market.

Awards

2013-14

  • Top 100 CISO Awards 2013: Suzlon received the ''Top 100 CISO Award'' for its OMS Information security project
  • Asian Brand and Leadership Summit 2013: Tulsi R. Tanti receives Asia’s Most Influential Leader Award and Suzlon receives the award for being Asia’s Most Promising Brand for 2012-2013 at the Asian Brand and Leadership Summit 2013, initiated by WCRC

2014-15

  • Central Board of Irrigation and Power (CBIP) Award: Suzlon received the CBIP award for Best Wind Power Equipment Manufacturer and Turnkey Supplier under the Renewable Energy Institutions category for its outstanding contribution in the development of the renewable energy sector, particularly relating to manufacturing of latest state-of-the-art wind power equipment and turnkey projects besides providing consultancy and O&M
  • CII-ITC Sustainability Award: Suzlon is awarded the prestigious CII-ITC Sustainability Award as a recognition for its commitment towards deploying CSR policies and processes within an organization. The award is a part of the continued efforts of CII-ITC Centre of Excellence for Sustainable Development to create awareness, promote policy and practices, and create capacity to mainstream sustainability practices
  • Thomas Reuters India Innovation Award 2014: Suzlon won the Thomson Reuters India Innovation Awards 2014 in the Corporate HiTech category in recognition for its innovation and entrepreneurship in India. The award honors the most innovative academic institutions and commercial enterprises headquartered in India for their spirit of innovation in R&D as it relates to Indian patent publications.

2015-16

  • Make in India Awards for Excellence 2015: Suzlon declared as one of the winners for the prestigious 'Make In India Awards for Excellence - 2015' under the category of Energy at an award ceremony that took place on 18th August 2015 at Mahatma Mandir, Gandhidham

2016-17

  • Thomson Reuters India Innovation Awards 2016: Suzlon featured in the list of the top 50 Indian innovators of 2015 at the Thomson Reuters India Innovation Awards 2015
  • Wow Awards Asia 2016: Tech Vision 2020, a mega event hosted by Suzlon in January 2016, for its customers and investor groups has won two silver awards - Corporate Meeting of the Year, and Corporate Conference of the Year
  • Renewable Energy India (REI) Awards 2016: Tulsi Tanti, Chairman, Suzlon Group, wins Industry Man of Year award
  • SWITCH Awards 2016:  Suzlon wins the prestigious SWITCH Awards in the following categories:- SWITCH Lifetime Achievement Award to Tulsi Tanti and SWITCH 1st Runner Award for Best Stall in large category
  • IWEF Awards 2016: Suzlon is honoured with the following awards by IWEF:- IWEF Award for Wind Turbine Tower Technology Company of the Year, and IWEF Runner Up Award for Wind Turbine Manufacturer of the Year.

2019-18

  • Suzlon Global Services Limited wins 1st Prize at the prestigious IMC Ramkrishna Bajaj National Quality Award

2019-20

  • Suzlon Won Digital Transformer Award, Operating Model Master Award and Talent Accelerator Award at the 3rd Annual 2019 International Data Corporation (IDC) Digital Transformation Awards (Dxa).

Milestones

1995:

  • Suzlon was formed with the idea of giving customers a complete package of wind energy services.

1995-2000:

  • Suzlon commissioned its first 0.27MW WTG for Indian Petrochemicals Ltd in Gujarat.
  • It commissioned WTGs in the state of Maharashtra and Tamil Nadu.
  • The company crossed the 100MW installed-capacity mark in this period.
  • Suzlon also commissioned its first 1MW WTG for the then Tata Group Company, Niskalp Investments in the year 2000.

2001-2005:

  • It commenced operations in the USA and Germany through wholly owned subsidiaries Suzlon Wind Energy Corp, and Suzlon Energy GmbH respectively.
  • A representative office was opened in Beijing.
  • Suzlon Energy (Australia) was formed and commenced operations as a wholly owned subsidiary.
  • Suzlon Energy A/S, Denmark was formed as a wholly owned subsidiary.
  • Flags off Suzlon's first export order to the USA in 2002

2006-2010

  • Suzlon was listed on the Bombay Stock Exchange and the National Stock Exchange.
  • In 2005, Suzlon achieved a new milestone in its growth by crossing the 1GW installed capacity mark in India.
  • Suzlon achieved the superbrand status - a testament to its leadership and technological innovation.
  • Suzlon became the only power company in India, the sole renewable energy company in Asia and the lone wind power company in the world to achieve this status.
  • It also ranked 5 in the world among WTG manufacturers in terms of installed capacity.

2011-2015

  • The company produced a variant - the S97 2.1MW wind turbine generator (WTG), built with a hybrid tower (lattice/tubular combination) and a hub-height of 120 meters in 2012.
  • The S111 2.1MW WTG suite, part of the S9X series, also received certification from TÜV NORD for its 50 Hz and 60 Hz variants in 2015. This certification was awarded for conforming to standards and regulations for design, testing, and manufacturing of the WTG.
  • In 2015, Suzlon signed definitive agreements with Dilip Shanghvi Family and Associates (DSA) for equity investments of Rs 1,800 crore in Suzlon Energy Limited for equity infusion to accelerate growth.
  • It commissioned its 10,000th WTG at the Artilleros wind farm in Uruguay.
  • Suzlon’s landmark initiatives, Pure Air Lovers' Society (PALS) and a state-of-the-art training centre for wind technicians in North America were successful in their objectives - creating a community of people supporting wind energy in the case of PALS and preparing for future manpower needs in the latter case.

2016 -17

  • Inaugurates Suzlon’s rotor blade manufacturing unit at Badnawar, Ratlam
  • Suzlon achieves landmark milestone of 10,000 MW of wind energy installation in India
  • Suzlon’s first S111 120m 2.1MW Wind Turbine Generator achieves 42% Plant Load Factor

2017-18

  • Suzlon wins two projects of 300 MW and 200 MW each under SECI bid
  • Suzlon successfully completes commissioning of 340 MW solar projects
  • Suzlon Installs and Commissions S128; India's largest Wind Turbine Generator

2018-19

  • Suzlon secures 50.4 MW order from Atria Power

2020-21

  • Suzlon successfully completes Debt Restructuring
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