Stock Market Today: Suzlon Energy’s share price extended a post-results rally for the second straight session on Thursday as we were locked in the 5% upper circuit on Thursday. Suzlon’s Q3 results were declared on Tuesday post-market hours.
Suzlon Energy’s Q3 net profit increased by 91% year-over-year (YoY) to ₹386.92 crore. Meanwhile, the earnings before interest, tax, depreciation, and amortization (EBITDA) surged 102% to ₹500 crore. The company’s revenue in Q3 came in at ₹2,968.81 crore, up 91%.
The company has a record order book of 5.5 GW and recorded 447 MW in delivery.
Fundamental View
“Suzlon Energy has delivered an impressive financial performance, with net profit nearly doubling to ₹387 crore in the latest quarter. A significant boost in other income to ₹27 crore further strengthened the bottom line. Revenue soared by 91% year-on-year to ₹2,968.8 crore, while EBITDA surged to ₹493.5 crore from ₹240.2 crore, with the EBITDA margin improving to 16.6%,” said Anshul Jain, Head of Research at Lakshmishree Investment and Securities.
The company reported record deliveries of 447 MW, reflecting a 163% growth. Its order book has reached an all-time high of 5.5 GW, with S144 turbines making up 92% of the total.
Suzlon is also scaling its manufacturing capabilities, adding new production lines at Ratlam and Jaisalmer, said Jain, adding that with these strategic expansions, Suzlon is well-positioned for continued growth.
Technical View
Suzlon share price is looking positive on the technical chart pattern, with the stock having made a strong base at ₹47 while it faces a hurdle at ₹55, said Sugandha Sachdeva, Founder of SS WealthStreet.
“On breaching above this hurdle, Suzlon shares may become highly bullish. So, Suzlon shareholders are advised to hold the script, maintain a strict stop loss at ₹47, and wait for a free breakout above ₹55 on a closing basis.
Likewise, fresh investors can also buy Suzlon shares, initiating momentum buying at the current market price, maintaining a stop loss at ₹47 apiece,” said Sachdeva.