Shares of Suzlon Energy hit the upper circuit; company reports a 1,663 MW order book

Suzlon Energy Ltd which is into manufacturing of wind turbines generators and related components hits the upper circuit today amid the financial results and quarterly outlook of the company. Yesterday the script was closed at Rs 31.33. Today, it opened at Rs 31.96 and closed at Rs 32.80, up by 4.69%. Company’s 52-week high stands at Rs 34.10 and it has a 52-week low at Rs 6.96. The company currently commands a market capitalization of approximately Rs 44,500 crore. Over the past six months shares of the company generated a multibagger return of 305.94%.

For the quarterly business outlook as of September 30, 2023, the company has achieved a global installed capacity of 20.3 GW, which includes 14.3 GW in India with over 9,600 turbines. The company currently holds a market share of approximately 32%. At the end of Q2FY24, the order book stands at 1,613 MW up from 1,433 MW in the first quarter of FY24. It’s important to note that the Q2FY24 order book does not yet reflect the recently secured order of 50.4 MW from Jupiter, which brings the total order book to 1,663.4 MW.

Talking about the financials of the company, on a consolidated basis, in Q2FY24 the company recorded a financial performance with a 81.14% year-on-year increase in net profit, reaching Rs 102.29 crore compared to Rs 56.47 crore in the corresponding quarter of the previous year. During the second quarter of FY24, the company’s total net revenue showed a slight decline of 0.96% from Rs 1,442.58 crore to Rs 1,428.69 crore compared to the same quarter in the preceding year.

Sequentially, the net profit for the quarter ending on September 30, 2023, showed an increase of 1.38% from Rs 100.90 crore. However, in Q2FY24, the company’s total net revenue registered an increase of 4.92% compared to the previous quarter, settling at Rs 1361.68 crore.

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.