Suzlon Energy Ltd Share Price – NSE  /  BSE

Capital Goods - Electrical Equipment, Small Cap

Suzlon Energy announced that CRISIL Ratings has upgraded its ratings to eA]e with Positive Outlook in alignment with the companyfs strengthened financial position, operational excellence and favourable sectoral tailwinds.

CRISIL highlighted in the rating rationale that gthe rating upgrade factors in, higher than expected improvement in the margins of WTG business while maintaining healthy cash flow generation from the O&M services business, and an uptick in the order book providing visibility for future revenues.h

CRISIL Ratings upgraded its ratings on the bank facilities of Suzlon to eCRISIL A]/Positive/CRISIL A2+f from eCRISIL BBB+/Positive/CRISIL A2f.

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Suzlon Group today announced a new order win for the development of a 72.45 MW wind power project for Juniper Green Energy. Suzlon will install 23 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW each at the clientfs site at the Dwarka district in Gujarat.

This order is for the company's larger rated 3.15 MW, S144]140m turbines from the 3 MW product series. As part of the agreement, Suzlon will supply the wind turbines (equipment supply) and execute the project including, erection and commissioning. Suzlon will also undertake comprehensive operations and maintenance services post]commissioning.

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The company will install 23 wind turbine generators (WTGs) with a hybrid lattice tubular (HLT) tower and a rated capacity of 3.15 MW each. The project is located at Dwarka, Gujarat.

This order is for the company's larger rated 3.15 MW, S144‐140m turbines from the 3 MW product series. As part of the agreement, the company will supply the wind turbines (equipment supply) and execute the project including, erection and commissioning. The company will also undertake comprehensive operations and maintenance services post‐commissioning.

JP Chalasani, chief executive officer, Suzlon Group, said, “We are delighted to announce our third order with Juniper Green Energy in just a few months. Juniper Green Energy has been a long‐standing player in renewable energy and has consistently worked towards increasing renewable energy installations in the country. Suzlon takes pride in the fact that committed customers like Juniper Green Energy continue to choose our leading technology and comprehensive capabilities throughout the entire wind energy value chain.

Our comprehensive portfolio of world‐class products customised for the Indian wind regime is manufactured in the country through a thriving domestic value chain ecosystem. We deeply appreciate GUVNL for championing sustainable energy in the state in line with the progressive renewable energy policy of Gujarat.”

Suzlon Energy is engaged in the business of design, development, manufacturing and supply of wind turbine generators (WTGs). Suzlon Energy (SEL) is India's largest renewable energy solutions provider with presence in 17 countries across six continents.

The company reported a consolidated profit of Rs 203.04 crore in Q3 FY24, steeply higher from Rs 78.36 crore in Q3 FY23. Revenue from operations increased 7.17% to Rs 1,552.91 crore during the quarter as compared with Rs 1,448.97 crore posted in corresponding quarter last year.

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Suzlon Energy Ltd fell 3.89% today to trade at Rs 41. The S&P BSE Capital Goods index is down 0.59% to quote at 58906.43. The index is up 5.05 % over last one month. Among the other constituents of the index, Bharat Heavy Electricals Ltd decreased 1.51% and V-Guard Industries Ltd lost 1.24% on the day. The S&P BSE Capital Goods index went up 71.29 % over last one year compared to the 22.19% surge in benchmark SENSEX.

Suzlon Energy Ltd has lost 15.62% over last one month compared to 5.05% gain in S&P BSE Capital Goods index and 2.08% rise in the SENSEX. On the BSE, 5.9 lakh shares were traded in the counter so far compared with average daily volumes of 93.44 lakh shares in the past one month. The stock hit a record high of Rs 50.72 on 02 Feb 2024. The stock hit a 52-week low of Rs 6.96 on 28 Mar 2023.

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