Suzlon bags 100.8 MW order from a clean‐teach arm of the Mahindra Group

Suzlon clinches a 100.8 MW wind power order from Mahindra Susten, the clean-tech arm of the Mahindra Group. In a boost to Maharashtra’s renewable energy landscape, Suzlon will install 48 wind turbines with a capacity of 2.1 MW each across the state. This clean energy boost will cater to the electricity needs of Commercial and Industrial (C&I) customers in Maharashtra.

The project showcases Suzlon’s cutting-edge S120 wind turbine technology, featuring a Hybrid Lattice tubular tower for enhanced stability. Suzlon will handle the entire project lifecycle, from supply and installation to commissioning and post-commissioning maintenance, ensuring smooth operation and optimal energy generation.

Last week Suzlon landed a repeat 193.2 MW wind power order from The KP Group in Gujarat. This project, in Bharuch district, boosts the state’s renewable energy with 92 turbines, powering 1,25,000 households and curbing ~4.96 lakh tonnes of CO2 emissions annually.

Financial Performance

In Q2FY24, the company posted a 0.92% decline in its consolidated revenue at Rs 1,417.21 crore compared to Rs 1,430.38 crore from the previous year’s corresponding quarter. The operating profit of the company stood at Rs 232.30 crore, while the PAT of the company stood at Rs 102.29 crore, from Rs 56.47 crore last year in the same quarter.

Business Overview

The Suzlon Group is one of the leading renewable energy solutions providers in the world with 20.3 GW* of wind energy capacity installed across 17 countries. Headquartered at Suzlon One Earth in Pune, India; the Group comprises Suzlon Energy Limited and its subsidiaries. A vertically integrated organisation, with in‐house research and development (R&D) centres in Germany, the Netherlands, Denmark and India, Suzlon’s world‐class manufacturing facilities are spread across 14 locations in India.

Stock Price Movement

Today, the Suzlon Energy Limited stock opened at Rs 36.95, with a high and low of Rs 37.25 and Rs 36.25, respectively. The stock is currently trading at Rs 36.74, which decreased by 0.38%. The stock has a 52-week high of Rs 44 and a 52-week low of Rs 6.96.

The stock has shown impressive growth, and investors should keep a close eye on this stock.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.