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Suzlon is one of the leading global renewable energy solutions providers. It is a vertically integrated WTG manufacturer. It also undertakes installation and O&M of all WTG sales. Operations include design development and manufacturing of all major components, including rotor blades, tubular towers, generators, control equipment, gears and nacelles. Apart from manufacturing, it offers a full gamut of wind project planning and execution services, including wind resource assessment, infrastructure and power evacuation, technical planning and execution of wind power projects. It also offers O&M services in India and overseas countries.[1]
Business Overview:[1][2]Company is a renewable energy solutions provider and is in the business of manufacturing, project execution and operation and maintenance of wind turbine generators and sale of related components. It has installed 20+ GW of wind energy in 17 countries and 111+ wind farms with a capacity of 13,880 MW. Company client portfolio includes power utilities and electricity producers in both the private and public sectors.
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Siemens | 3362.50 | 70.89 | 119616.20 | 0.36 | 485.40 | -7.14 | 5171.20 | 16.02 | 15.83 | 17364.20 | 11.56 | 1687.44 | 484.90 | 9.05 | 7.46 | 0.01 |
| 2. | Siemens Ener.Ind | 3100.70 | 100.31 | 110355.74 | 0.00 | 359.60 | – | 2645.70 | – | 38.52 | 7826.70 | 19.34 | 1100.10 | 359.60 | 25.20 | 13.26 | 0.03 |
| 3. | A B B | 5172.50 | 61.82 | 109242.76 | 0.85 | 409.04 | -7.17 | 3310.72 | 13.69 | 38.65 | 13010.65 | 16.56 | 1766.99 | 408.88 | 15.23 | 16.04 | 0.01 |
| 4. | CG Power & Ind | 662.35 | 97.64 | 104323.09 | 0.20 | 284.44 | 29.76 | 2922.79 | 21.14 | 37.48 | 11069.29 | 12.97 | 1068.45 | 286.72 | 13.98 | 14.53 | 0.02 |
| 5. | B H E L | 275.75 | 171.94 | 96035.13 | 0.18 | 374.89 | 253.17 | 7511.80 | 14.09 | 4.87 | 29269.17 | 4.03 | 558.54 | 374.89 | 3.94 | 0.81 | 0.45 |
| 6. | Hitachi Energy | 20085.00 | 124.89 | 89576.28 | 0.03 | 264.36 | 405.57 | 1832.55 | 17.94 | 19.44 | 6815.40 | 12.60 | 717.23 | 264.36 | 19.53 | 5.77 | 0.02 |
| 7. | GE Vernova T&D | 2805.10 | 77.82 | 71582.70 | 0.18 | 299.48 | 107.08 | 1538.46 | 38.88 | 54.74 | 5094.78 | 23.87 | 919.85 | 299.48 | 34.43 | 14.76 | 0.01 |
| 8. | Suzlon Energy | 50.85 | 22.91 | 69163.58 | 0.00 | 1286.60 | 644.48 | 3480.60 | 79.27 | 36.16 | 12196.91 | 17.98 | 3018.99 | 1328.45 | 9.46 | 21.03 | 0.01 |
| – | Median: 37 Co. | 601.85 | 44.08 | 6879.4 | 0.03 | 37.35 | 41.39 | 460.03 | 24.34 | 28.09 | 1522.91 | 13.99 | 169.5 | 45.14 | 5.94 | 12.29 | 0.14 |
Standalone figures in ₹ crores
| Dec 2022 | Dec 2023 | Dec 2024 | Jun 2023 | Jun 2024 | Jun 2025 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 911 | 908 | 2,292 | 760 | 1,912 | 2,848 | 1,011 | 1,429 | 3,577 | 866 | 764 | 1,942 | 3,481 |
Expenses | 914 | 882 | 2,014 | 712 | 1,568 | 2,265 | 987 | 1,313 | 2,970 | 815 | 732 | 1,701 | 2,756 |
Operating Profit | -3 | 26 | 278 | 48 | 343 | 583 | 24 | 115 | 607 | 51 | 32 | 241 | 725 |
Other Income | 47 | 47 | 40 | 66 | 33 | 31 | 62 | 51 | 59 | 104 | 54 | 41 | -14 |
Profit before tax | -88 | 24 | 201 | 0 | 300 | 482 | -59 | 74 | 541 | 4 | -5 | 192 | 569 |
Tax % | 0% | 0% | 0% | 0% | 0% | 28% | 0% | 0% | -117% | 0% | 0% | 0% | -126% |
Net Profit | -88 | 24 | 201 | 0 | 300 | 347 | -59 | 74 | 1,174 | 4 | -5 | 192 | 1,287 |
EPS in Rs | -0.07 | 0.02 | 0.15 | 0.00 | 0.22 | 0.26 | -0.05 | 0.06 | 0.87 | 0.00 | -0.00 | 0.14 | 0.95 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 3,065 | 2,270 | 5,942 | 9,246 | 5,977 | 2,544 | 376 | 1,247 | 4,040 | 3,590 | 5,864 | 10,198 | 12,197 |
Expenses | 3,400 | 2,652 | 5,103 | 6,736 | 5,344 | 2,743 | 1,270 | 1,346 | 3,964 | 3,529 | 4,946 | 8,527 | 10,004 |
Operating Profit | -336 | -382 | 839 | 2,510 | 633 | -199 | -894 | -98 | 76 | 61 | 918 | 1,670 | 2,192 |
Other Income | 806 | -4,274 | 722 | -810 | -146 | -5,830 | -559 | 870 | -26 | 2,733 | 91 | 199 | 117 |
Interest | 1,221 | 1,219 | 776 | 931 | 1,223 | 944 | 1,141 | 983 | 777 | 442 | 144 | 229 | 351 |
Depreciation | 174 | 158 | 420 | 414 | 419 | 439 | 682 | 186 | 185 | 190 | 142 | 167 | 166 |
Profit before tax | -925 | -6,032 | 365 | 356 | -1,155 | -7,412 | -3,276 | -398 | -913 | 2,163 | 723 | 1,474 | 1,792 |
Net Profit | -924 | -6,032 | 378 | 356 | -1,156 | -7,413 | -3,277 | -398 | -913 | 2,163 | 723 | 2,105 | 3,009 |
EPS in Rs | -3.00 | -13.14 | 0.61 | 0.57 | -1.76 | -11.26 | -4.97 | -0.38 | -0.80 | 1.73 | 0.54 | 1.55 | 2.23 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 498 | 742 | 1,004 | 1,005 | 1,064 | 1,064 | 1,064 | 1,702 | 1,843 | 2,454 | 2,722 | 2,732 | 2,744 |
Reserves | 2,328 | -605 | -400 | 18 | -710 | -8,087 | -11,342 | -5,680 | -5,736 | -1,035 | 559 | 2,797 | 4,564 |
Borrowings | 10,058 | 10,947 | 6,210 | 6,075 | 7,357 | 6,783 | 11,962 | 4,852 | 4,314 | 2,342 | 38 | 36 | 74 |
Other Liabilities | 5,727 | 4,671 | 5,478 | 7,128 | 5,130 | 8,763 | 4,039 | 4,489 | 5,253 | 2,286 | 3,438 | 6,780 | 7,380 |
Total Liabilities | 18,611 | 15,754 | 12,292 | 14,226 | 12,841 | 8,523 | 5,723 | 5,362 | 5,675 | 6,048 | 6,757 | 12,344 | 14,761 |
Fixed Assets | 719 | 588 | 1,746 | 1,790 | 1,470 | 1,404 | 893 | 758 | 681 | 526 | 673 | 732 | 770 |
Gross Block | 1,714 | 1,729 | 2,210 | 2,669 | 2,760 | 3,119 | 3,263 | 3,271 | 2,195 | 1,885 | 2,100 | 2,224 | – |
Accumulated Depreciation | 995 | 1,142 | 464 | 880 | 1,290 | 1,715 | 2,370 | 2,513 | 1,514 | 1,359 | 1,427 | 1,492 | – |
CWIP | 16 | 20 | 179 | 128 | 292 | 140 | 117 | 100 | 12 | 4 | 8 | 76 | 193 |
Investments | 7,730 | 2,752 | 2,753 | 3,648 | 2,878 | 2,009 | 1,782 | 1,781 | 1,752 | 1,754 | 379 | 1,278 | 1,648 |
Other Assets | 10,146 | 12,395 | 7,615 | 8,660 | 8,201 | 4,970 | 2,932 | 2,724 | 3,230 | 3,763 | 5,698 | 10,258 | 12,150 |
Total Assets | 18,611 | 15,754 | 12,292 | 14,226 | 12,841 | 8,523 | 5,723 | 5,362 | 5,675 | 6,048 | 6,757 | 12,344 | 14,761 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | -163 | -15 | 1,555 | 2,801 | -796 | 450 | -1,257 | -161 | -74 | -17 | -48 | 916 |
Cash from Investing Activity | -540 | -566 | 2,156 | -1,844 | 32 | 534 | -3,503 | 518 | 1,180 | 408 | -107 | -612 |
Cash from Financing Activity | 624 | 588 | -3,685 | -898 | 1,058 | -1,414 | 4,780 | -199 | -889 | -510 | 179 | 331 |
Net Cash Flow | -79 | 7 | 27 | 59 | 293 | -430 | 20 | 157 | 216 | -119 | 24 | 635 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 184 | 254 | 116 | 91 | 116 | 157 | 413 | 111 | 60 | 56 | 103 | 132 |
Inventory Days | 123 | 132 | 132 | 150 | 138 | 251 | 859 | 420 | 138 | 101 | 221 | 164 |
Days Payable | 565 | 592 | 328 | 307 | 216 | 381 | 1,108 | 669 | 214 | 141 | 234 | 191 |
Cash Conversion Cycle | -258 | -206 | -81 | -66 | 37 | 26 | 163 | -138 | -16 | 15 | 89 | 104 |
Working Capital Days | -336 | 84 | -65 | -86 | -169 | -831 | -12,645 | -302 | -74 | -73 | 62 | 48 |
ROCE % | -2% | -2% | 10% | 26% | 8% | -5% | -186% | -17% | -7% | 3% | 23% | 36% |
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