On 6 Nov 2026, Suzlon Energy was priced at ₹38.80, or 23.7× trailing earnings, against an industry P/E of 33.8×, and the shares are 36% below their 52-week high. Sales and net profit grew 41% and 3.5% a year over 3 years, with ROCE of 25% and ROE of 25%. It carries very little debt. It is a mid-cap company with a market cap of ₹53,337 Cr, ranked 6th of 138 Specialty Industrial Machinery companies by market cap; the shares fell 36% over the past year.
- ₹38.49
- ₹38.80
- ₹37.64
- ₹38.59
- 7.1 Cr
Health check
- ReturnsBehind
−35.7% over a year, better than 0 of 7 peers.
- Price tagCheaper
P/E 23.7 vs industry 33.8.
- GrowthSteady
Sales +41.4%, profit +3.5% a year over 3 years.
- ProfitabilityStrong
ROCE 24.8% vs peer median 21.8%.
- Balance sheetSolid
Debt 0.07× equity, interest covered 11.8×, Piotroski 6 of 9.
- Red flags2 to check
Quarterly profit down 68.8% on a year ago.
Mid cap
Defensive
Key metrics
- Market cap
- ₹53,337 Cr
- Mid cap
- P/E
- 23.7
- Industry 33.8
- Price to book
- 5.13
- Peers 10.85
- Dividend yield
- 0.00%
- ROE
- 24.9%
- Peers 17.0%
- ROCE
- 24.8%
- Peers 21.8%
- Debt to equity
- 0.07
- Debt ₹673 Cr
- EPS (TTM)
- ₹1.64
- Face value ₹2
- OPM (TTM)
- 16.7%
- Net margin 12.3%
- Sales growth
- +26.0%
- Latest quarter vs a year ago
- Profit growth
- −68.8%
- Latest quarter vs a year ago
- Price to sales
- 2.90
- EV/EBITDA 17.5
Strengths and risks
Strengths
- Return on equity of 24.9%.
- Return on capital employed of 24.8%.
- Practically debt-free.
- Quarterly sales up 26.0% on a year ago.
- P/E of 23.7 against an industry P/E of 33.8.
Risks to check
- Quarterly profit down 68.8% on a year ago.
- 36% below its 52-week high.
About Suzlon Energy
Suzlon Energy Limited, together with its subsidiaries, manufactures and sells wind turbine generators and related components in India and internationally. The company operates through the WTG, Foundry & Forging, O&M services, and Others segments. It offers onshore wind turbine generators with capacities ranging from 2 MW to 6 MW, and classic fleet turbines; and services including project development through its RE DevCo business, energy storage solutions,…
- Headquarters
- Pune
- Employees
- 8,750
- Sector
- Industrials
- ISIN
- INE040H01021
- Website
- suzlon.com
Price range
- Avg volume (3M)
- 6.4 Cr
- 1-year return
- minus 35.7%
- From 52-week high
- minus 35.8%
Analyst consensus
Peers · Specialty Industrial Machinery
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BHELBharat Heavy Electricals | 418.80 | plus 0.17% | 1,45,829 | 50.6 | 74.6 | 6.6% | 10.1% | 0.22 | 13.5% | plus 56.4% |
| ABBABB India | 6,774.00 | plus 2.20% | 1,43,547 | 92.3 | 68.2 | 28.5% | 13.8% | 0.02 | 15.4% | plus 26.4% |
| SIEMENSSiemens | 3,560.00 | plus 3.73% | 1,26,779 | 87.3 | 59.3 | 16.5% | 10.4% | 0.02 | 3.0% | plus 10.0% |
| CUMMINSINDCummins India | 4,048.80 | minus 0.25% | 1,12,233 | 49.8 | 41.7 | 35.0% | 20.6% | 0.00 | 16.1% | minus 6.0% |
| GVT&DGE Vernova T&D India | 4,018.00 | minus 3.06% | 1,02,879 | 71.3 | 56.6 | 58.5% | 26.5% | 0.01 | 31.1% | plus 31.7% |
| SUZLONSuzlon Energy | 38.80 | plus 0.54% | 53,337 | 23.7 | 17.3 | 24.8% | 16.7% | 0.07 | 41.4% | minus 35.7% |
| AIAENGAIA Engineering | 3,113.60 | minus 2.77% | 29,056 | 23.5 | 19.6 | 19.9% | 27.4% | 0.00 | −3.4% | minus 3.9% |
| JYOTICNCJyoti CNC Automation | 1,019.90 | minus 0.23% | 23,195 | 75.2 | 45.6 | 21.8% | 24.4% | 0.44 | 31.2% | plus 8.7% |
| Median of 7 peers | – | −0.23% | 1,12,233 | 71.3 | 56.6 | 21.8% | 20.6% | 0.02 | 15.4% | 10.0% |
Quarterly results
| ₹ Cr | Jun 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 3,117 | 4,228 | 5,468 | 3,819 | 4,869 | |
| 2,514 | 3,487 | 4,477 | 3,215 | 4,139 | |
| 603 | 741 | 991 | 604 | 730 | |
| 19.3% | 17.5% | 18.1% | 15.8% | 15.0% | |
| 29.7 | 19.9 | 0.5 | 24.6 | 22.3 | |
| 103 | 114 | 135 | 134 | 123 | |
| 70.2 | 80 | 93 | 106 | 111 | |
| – | – | 70 | – | – | |
| 459 | 567 | 833 | 389 | 518 | |
| 29.4% | 21.4% | −33.7% | 21.6% | 23.9% | |
| 324 | 445 | 1,114 | 305 | 394 | |
| 0.24 | 0.32 | 0.81 | 0.22 | 0.29 |
Profit & loss
- Sales CAGR 3Y
- +41.4%
- Profit CAGR 3Y
- +3.5%
- EPS CAGR 3Y
- −4.4%
- ROE
- 24.9%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 5,854 | 6,403 | 10,763 | 16,547 | |
| – | +9.4% | +68.1% | +53.7% | |
| 5,009 | 5,377 | 8,903 | 13,505 | |
| 845 | 1,026 | 1,860 | 3,042 | |
| 14.4% | 16.0% | 17.3% | 18.4% | |
| −14.8 | −15.5 | 16.4 | −152 | |
| 383 | 106 | 106 | 223 | |
| 260 | 190 | 259 | 318 | |
| 2,704 | −55.8 | −64.9 | 73.6 | |
| 2,892 | 659 | 1,447 | 2,422 | |
| 0.2% | −0.1% | −43.2% | −30.6% | |
| 2,849 | 660 | 2,072 | 3,163 | |
| – | minus 76.8% | +213.7% | +52.7% | |
| 2.64 | 0.50 | 1.51 | 2.31 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 2,454 | 2,722 | 2,732 | 2,745 | |
| −1,355 | 1,199 | 3,374 | 6,719 | |
| 1,938 | 150 | 740 | 981 | |
| 2,486 | 3,108 | 6,114 | 8,424 | |
| 5,523 | 7,179 | 12,960 | 18,869 | |
| 785 | 851 | 977 | 1,548 | |
| 6.7 | 41.7 | 155 | 188 | |
| 52.9 | 52.9 | 0 | 0 | |
| 505 | 544 | 1,308 | 1,553 | |
| 4,174 | 5,690 | 10,520 | 15,580 | |
| 5,523 | 7,179 | 12,960 | 18,869 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 491 | 79.5 | 1,092 | 1,202 | |
| 84.9 | −152 | −752 | −914 | |
| −709 | 132 | 343 | −155 | |
| −133 | 59.6 | 683 | 133 | |
| −101 | −227 | −371 | −577 | |
| 390 | −148 | 721 | 625 |
Shareholding pattern
- Promoters11.70%
- Public88.30%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 11.70% | 88.30% | minus 0.01 | |
| 30 Jun 2026 | 11.71% | 88.29% | minus 0.02 | |
| 31 Mar 2026 | 11.73% | 88.27% | 0.00 | |
| 31 Dec 2025 | 11.73% | 88.27% | 0.00 | |
| 30 Sep 2025 | 11.73% | 88.27% | – |
Major shareholders
Filings & events
News
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