Shares of Suzlon Energy continued their upward momentum, rising by 5 percent on January 30 and hitting the upper circuit for the second consecutive session. This rally follows the company’s impressive Q3FY25 earnings report, marking the third straight day of gains.
Strong Financial Performance in Q3FY25
Suzlon Energy reported a remarkable surge in its financial performance for the December quarter. The company’s net sales rose sharply to Rs 2,974.83 crore, reflecting a 90.64% increase from Rs 1,560.47 crore recorded in the same period last year. The company also posted a quarterly net profit of Rs 386.92 crore, up 90.56% from Rs 203.04 crore in Q3FY24. Additionally, EBITDA for Q3FY25 stood at Rs 527.04 crore, representing a 105.18% year-on-year growth.
Record Deliveries and Expansion Plans
During the quarter, Suzlon achieved record deliveries of 447 MW, driven by strong demand in its wind turbine generator segment. Revenue from this segment saw a substantial increase, climbing to Rs 2,336 crore, compared to Rs 1,004 crore in the previous year.
Furthermore, the foundry and forging division recorded a significant 65% growth in revenue, reaching Rs 146 crore for the quarter. CEO JP Chalasani emphasized the company’s commitment to expanding domestic manufacturing capacity to fulfill its highest-ever order book of 5.5 GW.
Analyst Recommendations and Future Outlook
Suzlon’s robust performance has garnered positive responses from market analysts. Out of six analysts covering the stock, five have issued a ‘Buy’ recommendation. Nuvama, one of the key brokerage firms, upgraded its rating to ‘Buy’ post-Q3 results and set a target price of Rs 60 per share.
Meanwhile, speaking to CNBC-TV18, Group CFO Himanshu Mody expressed optimism about the company’s future performance. He anticipates that the March quarter will surpass the December quarter and expects Suzlon to execute a delivery higher than the 447 MW capacity achieved in Q3FY25.
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