Multibagger stock Suzlon bags a 30 MW order from EDF Renewables in Gujarat

Suzlon, a leading Indian renewable energy solutions provider, has secured a new 30 MW wind power project order from EDF Renewables. This project, located in Gujarat, will utilize 10 wind turbine generators (WTGs) from Suzlon’s 3 MW series, each with a capacity of 3 MW and a Hybrid Lattice Tubular (HLT) tower.

This win marks a repeat order for Suzlon’s largest and most powerful turbine series, the S144-140m. The company will handle the project’s entire lifecycle, encompassing supply, supervision, erection, commissioning, and post-commissioning operations and maintenance services.

This project is expected to generate enough clean electricity to power over 24,000 households and contribute significantly to India’s renewable energy goals. Additionally, it is estimated to curb over 97,000 tonnes of CO2 emissions annually, highlighting the project’s positive environmental impact.

This collaboration between Suzlon and EDF Renewables strengthens both companies’ commitment to promoting clean energy solutions and contributing to a sustainable future.

Financial Performance

In Q3FY24, the company posted a 7.17% increase in its consolidated revenue at Rs 1,552.91 crore compared to Rs 1,448.97 crore from the previous year’s corresponding quarter. The operating profit of the company stood at Rs 256.87 crore, while the PAT of the company stood at Rs 203.04 crore, from Rs 78.28 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 organization, 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 stock opened at Rs 42.90, with a high and low of Rs 43 and Rs 41, respectively. The stock is currently trading at Rs 41.60, which decreased by 3.55%. The stock has a 52-week high of Rs 50.72 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.