In a dramatic reversal in investor sentiment, Suzlon Energy, which is largely owned by retail shareholders, has staged a remarkable recovery in recent months after remaining under prolonged selling pressure that had pushed the wind energy player to multi-year lows.
After falling below ₹40 for the first time in more than two years during March, the stock witnessed a strong rebound that is still ongoing, resulting in a massive 50.6% surge to its latest closing price of ₹57.53 apiece.
The recent rally has also pushed the stock’s year-to-date returns to 10%, while in Wednesday’s trade it touched its highest level in five months.
The shift in investor interest has come amid the ongoing conflict in the Middle East and rising global power demand, which have brought renewable energy stocks back into the spotlight.
In addition, amid peak power shortages, wind power — which is available during evening hours — has gained fresh attention from both industry players and policymakers. These factors have helped the sector shrug off earlier challenges such as delays in scaling up commissioning, right-of-way (RoW) hurdles, and grid connectivity issues.
Strong order book boosts Suzlon’s growth visibility
Besides, brokerages remain confident about the company’s growth prospects after its March quarter numbers came in above estimates and reflected growth in operating profit along with margin expansion.
The company’s current order book stands at 5,892 MW, including the recent 195 MW order from Sunsure Energy and net of Q4 FY26 deliveries. Its order book at the end of FY26 stood at 5,697 MW.
The company reported a 45% rise in revenue during the quarter to ₹5,494 crore, compared to ₹3,790 crore in the year-ago period. EBITDA increased 39.1% to ₹964 crore from ₹693 crore in the corresponding quarter last year. However, EBITDA margin narrowed to 17.6% from 18.4% a year ago.
On the bottom line, net profit declined marginally by 5.7% to ₹1,181 crore. Meanwhile, wind turbine deliveries continued to accelerate during the quarter, with net deliveries standing at 830 MW in Q4 FY26 and 2,456 MW for FY26, respectively.
Analysts expect Suzlon stock to rise up to ₹71
Domestic brokerage firm Anand Rathi remains optimistic about Suzlon Energy’s growth trajectory, citing healthy execution momentum and favourable sector tailwinds. The brokerage maintained its ‘Buy’ rating on the stock with a target price of ₹60, valuing the company at 15.6x FY28 estimated EBITDA.
JM Financial also retained its ‘Buy’ rating on the stock and marginally raised its target price to ₹65 per share from ₹64 earlier. “On the back of a 5.9 GW order book, we estimate FY27/FY28 deliveries at 3.1 GW/3.3 GW. We maintain BUY with a target price of ₹65 based on 25x FY28E EPS,” the brokerage said in its note.
Meanwhile, Systematix Institutional Equities said it remains positive on Suzlon given its market leadership, which reflects the company’s pivotal role in accelerating wind capacity additions in India, improving execution, and increasing strategic focus on EPC, hybrid, and FDRE projects.
“The company’s transition towards a DevCo-led integrated renewable platform, supported by a 25 GW development pipeline and rising EPC mix, is expected to strengthen execution control while addressing key industry challenges and enhancing customer stickiness,” the brokerage added.
Systematix Institutional Equities maintained its ‘Buy’ rating on Suzlon Energy with a target price of ₹71 per share.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
