Suzlon Energy stock managed to close above psychological level today. While Suzlon gained just 1.3 percent in today's session, it has closed at its highest level in a month. With a robust order book, expanding capacity, and strong policy support, the company has not only impressed with past returns—up over 2,000% in five years—but is also showing signs of sustained momentum. In April 2025, analysts from Motilal Oswal, JM Financial, and Geojit reaffirmed Buy ratings, citing execution strength, favorable policy tailwinds, and expansion initiatives. Despite some valuation concerns, Suzlon’s strategic position and innovation pipeline point to a bullish outlook, making it a core watchlist stock for investors navigating the green energy boom.

Stock Performance: From Recovery to Resurgence

Suzlon’s stock has been one of the most remarkable comeback stories in India’s energy sector. As of April 23, 2025, the stock trades at Rs 59.99, up 43.35% over the past year and over 2,000% in the past five years. While recent months have shown volatility—down 14.59% in six months—the price has rebounded, gaining 6.18% in one month and 10.46% over three months.

With a 52-week high of Rs 86.04 and a low of Rs 37.90, the stock remains below its peak, suggesting more upside if execution continues aligning with expectations.

New Projects and Expanding Order Book

April brought significant wins for Suzlon:

A 100.8 MW EPC project from Sunsure Energy in Maharashtra.

A prior 378 MW order from NTPC Green Energy for its hybrid lattice towers and wind turbine technology.

These additions pushed Suzlon’s order book to its highest level ever. Importantly, most new orders are non-EPC, with land acquisition already in place—significantly reducing commissioning delays.

Favorable Policy Climate and Local Sourcing Mandates

The Indian government’s revised wind turbine design norms now prioritize domestic sourcing, a development that plays into Suzlon’s strengths. The company boasts over 85% local content in its flagship S144 turbine, positioning it ahead of less indigenized competitors.

With India targeting 500 GW of non-fossil fuel capacity by 2030—up from 214 GW at the end of 2024—the wind segment is set to contribute significantly. Suzlon, with a deep local supply chain and scalable operations, stands to be one of the biggest beneficiaries.

Analyst Ratings: Bullish Across the Board

Technical analysts like Nilesh Jain and Kunal Kamble see short-term momentum building. A breakout above Rs 62 could fuel a near-term rally toward Rs 64–66, while strong support sits at Rs 57.

Fundamentals and Valuation

Suzlon’s PEG ratio of 0.6x for FY26 underscores its relative undervaluation compared to peers like:

ABB India: PEG 6x

Thermax: PEG 2.5x

CG Power: PEG 1.9x

Despite a seemingly high P/E of 59–71x, rapid earnings growth may justify the premium.

At a market cap of Rs 81,879.58 crore, Suzlon now ranks 10th among India’s listed power sector players. Retail investor share has risen to 25.12%, indicating growing retail confidence in its turnaround.

Strategic Themes and Growth Levers

• Capacity Expansion: Scaling from 3.15 GW to 4.5 GW by FY26.
• S144 Turbine Dominance: Comprises 92% of the order book, reflecting technological edge.
• Operational Margins: Expected to stay stable at ~20%, supported by execution efficiency.
• O&M Growth: Renom subsidiary scaling multi-brand O&M services for steady revenue.
• Export Potential: Domestic focus remains, but global expansion is under evaluation.

Risks: Overvaluation and Execution Barriers

No stock comes without risk. Despite strong fundamentals, Suzlon faces:

Valuation Stretch: A high P/E can reduce margin for error if growth slows.

ISTS Waiver Expiry: Removal post-June 2025 could affect new project economics.

Execution Risks: Delays in transmission and battery storage capacity can bottleneck deployment.

Market Volatility: Global macro risks—interest rates, China tensions—can affect sentiment.

Medium- and Long-Term Outlook

If current momentum continues, analysts see potential for Suzlon stock to hit:

These forecasts depend on order execution, policy continuity, and global clean energy demand. Strategic partnerships with utilities like NTPC and Torrent Power further enhance order stability.

Conclusion: A Turnaround Story with Wind at Its Back

Suzlon Energy has staged a remarkable comeback, transforming itself from a debt-ridden legacy firm into a leading force in India’s wind energy landscape. With consistent order wins, expanding manufacturing, and an edge in localized turbine technology, it’s no surprise that analysts remain bullish.

While risks remain around valuation and execution, the underlying fundamentals suggest long-term potential. For investors seeking exposure to India’s clean energy future, Suzlon presents a compelling, albeit volatile, opportunity. With a potential upside of 20–24% in the near term and more over the longer horizon, the wind may continue to blow in Suzlon’s favor.