SUZLONCapital Goods

Suzlon Energy Limited

Heavy Electrical Equipment · ISIN INE040H01021 · BSE 532667 · NSE EQ · FV ₹2
Last price
₹43
+0.93%today
What this company does

Suzlon Energy Limited operates in Heavy Electrical Equipment, part of the Capital Goods sector. It booked ₹3,829 cr of revenue in its latest quarter (Q1 FY27) and kept 8.0% of sales as profit. It is the 8th largest of 9 Heavy Electrical Equipment companies we track, by market value.

The Suzlon Group (‘Suzlon’, ‘the Company’, ‘the Group’) is a Suzlon’s proactive product strategy has allowed it to stay leading global renewable energy solutions provider, with a ahead of this curve. The Company’s latest model, the S144, wind turbine capacity of approximately 21 GW installed across now accounts for 90%+ of the current order book, and has 17 countries as of March 31, 2025.
In the report:
54out of 100
Equitytale Health Score
Mixed

Healthier than 54% of companies in Capital Goods, on all six measures of filed financials. Each measure is ranked against the 77–113 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
oversold
RSI (14)
25

At close. Not part of the score.

Profitability & returns49

How much profit it earns on the money it employs

Balance sheet51

How much it owes, and whether earnings cover the interest

Cash quality52

Whether reported profit actually arrives as cash

Growth & consistency58

Whether sales and profit have grown, and how steadily

Valuation51

What today's price implies, against our models or its peers

Governance & risk72

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 22% vs last year
No promoter shares pledged
Virtually debt-free
Turns profit into real cash
Watch-outs
! Thin 8.0% net margin
! Profit down 6% vs last year

What if I invest in SUZLON?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 0% a year, it would become
₹12.00 lakh

The slider starts at 0%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹43 +0.93%
latest close · 2026-09-17
1-year return
+609.0%
52-wk low ₹652-wk high ₹54
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio48.3High
LowAverageHigh
P/B ratio6.18High
Below bookModerateHigh
EV / EBITDA23.1High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity12.9%Fair
WeakFairStrong ▸15%
Return on capital19.6%Strong
WeakFairStrong
Net margin8.0%Decent
ThinDecentStrong
EBITDA margin16.4%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.03Comfortable
LowModerateHigh ▸1
Interest cover3.9×Okay
RiskyOkayStrong ▸5×
Current ratio1.65Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹58,505 cr
Book value
₹7
EPS
₹0.22
latest quarter
Net debt
₹-367 cr
more cash than debt
Enterprise value
₹58,139 cr
EBITDA
₹2,515 cr
annualised
EBIT
₹2,092 cr
annualised
Operating margin
13.7%
Return on assets
6.5%
Earnings yield
2.07%
P/S
3.82
Sales / share
₹11.1
Tax rate
21.6%
Face value
₹2
Shares
1,375.3 cr
Working capital
₹5,314 cr
Current assets
₹13,501 cr
Current liabilities
₹8,187 cr
Delivery %
44.8%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹4₹10, midpoint ₹7

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹3,829 cr
Other Income₹33 cr
Total Income₹3,863 cr
Cost of Materials₹2,942 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-446 cr
Employee Benefit Expense₹268 cr
Finance Costs₹134 cr
Depreciation & Amortisation₹106 cr
Other Expenses₹469 cr
Total Expenses₹3,473 cr
Profit before Tax₹389 cr
Tax Expense₹84 cr
Net Profit₹305 cr
Net margin on total income7.9%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹2,497 cr64.6%
Employee benefit expense₹268 cr6.9%
Finance costs₹134 cr3.5%
Depreciation & amortisation₹106 cr2.7%
Other expenses₹469 cr12.1%
Tax expense₹84 cr2.2%
Profit for the period₹305 cr7.9%
Total income ₹3,863 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue4,236 cr5,493 cr3,829 cr
Total income4,259 cr5,521 cr3,863 cr
Expenses3,692 cr4,757 cr3,473 cr
Profit before tax567 cr833 cr389 cr
Tax121 cr-281 cr84 cr
Net profit (owners' share)445 cr1,114 cr305 cr
Net margin (owners' share, on revenue)10.5%20.3%8.0%
EPS (₹)0.320.810.22
YoY (latest quarter): total income +22.0% · net profit -5.9%
Balance sheet & cash flow · as of Mar 2026
Debt-free
Total assets
₹18,869 cr
Shareholder equity
₹9,464 cr
parent shareholders
Total debt
₹264 cr
Cash
₹631 cr
Cash flow · H1 FY26
Operating
₹86 cr
Investing
₹-520 cr
Financing
₹23 cr
Peer comparison
Heavy Electrical Equipment · by market value
CompanyPriceMarket capP/E
Siemens Limited₹3,764₹8.37 L cr97.6
ABB India Limited₹7,131₹1.51 L cr102.1
Bharat Heavy Electricals Limited₹429₹1.49 L cr99.4
Hitachi Energy India Limited₹31,230₹1.39 L cr118.3
CG Power and Industrial Solutions Limited₹880₹1.39 L cr110.6
GE Vernova T&D India Limited₹4,341₹1.11 L cr76.5
Siemens Energy India Limited₹3,109₹1.11 L cr62.8
Suzlon Energy Limitedthis company₹43₹58,505 cr48.3
Thermax Limited₹3,570₹40,210 cr398.4
Same industry · latest reported numbers · not a recommendation.
Corporate actions
ActionDetailEx-date
Rights issue21:53 Oct 2022
Who owns it · 2026-06-30
No pledge
Promoter
11.7%
FII / Foreign
24.1%
DII / Domestic
11.1%
Retail / others
53.0%
Promoter stake down 1.6% over the last 12 quarters.
Smart-money activity
Insider trades
SoldPallavi Bagrecha · Immediate relative5.00 L · ₹1.2 cr31 Aug 23
SoldPallavi Bagrecha · Immediate relative2.00 L · ₹40.7 L22 Aug 23
SoldKarishma Bagrecha · Immediate relative3.00 L · ₹61.2 L22 Aug 23
Bulk / block deals
short · NSE1,89616 Sep 26
short · NSE5003 Sep 26
short · NSE4,33031 Aug 26
Stake changes
BoughtRambhaben Ukabhai · promoter→ 3.25%27 Jun 25
SoldRambhaben Ukabhai · promoter→ 3.25% · 2.75 cr9 Jun 25
SoldRanchhodbhai Ramjibhai Family Trust · promoter→ 0.00% · 5.28 cr9 Jun 25
Promoter pledges
PledgedRanjitsinh A Parmar40.82 cr · 1.91% held4 Aug 20
PledgedRajasthan Gum Pvt Ltd8.16 cr · 0.92% held4 Aug 20
ReleasedECL Finance Ltd (through its dP Edelweiss Broking ltd)40.00 L · 1.50% held8 Feb 19
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 11 Sep 2026
See the official result
1
To adopt Financial Statements, etc. for the financial year 2025-26
Backed by 100% of shareholders other than promotersneeded 50%
519.48 cr votes for, 54.74 L against · 0% of mutual funds and other big investors said no
2
To re-appoint Mr. Vinod R.Tanti as Director
Promoters had a personal stake in this
Backed by 72% of shareholders other than promotersneeded 50%
379.15 cr votes for, 147.02 cr against · 38% of mutual funds and other big investors said no
3
To approve remuneration of the Cost Auditors for the financial year 2026-27
Backed by 100% of shareholders other than promotersneeded 50%
525.89 cr votes for, 27.52 L against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 15 named members
owning 11.7% between them · as of 2026-06-30
Tanti Holdings Private Limited4.62%
Rambhaben Ukabhai3.24%
Samanvaya Holdings Private Limited2.66%
Girish R.Tanti0.73%
Vinod R.Tanti0.22%
Pranav T.Tanti as karta of Tulsi Ranchhodbhai HUF0.13%
Jitendra R.Tanti0.07%
Gita T.Tanti0.04%
Business done with them
FY2025 · 4 of the group
The company paid ₹7 cr to companies in the promoter group last year — about 0.1% of its ₹10,890 cr revenue and received ₹3 cr back from them.
Vinod R Tanti
Other payments to them · Managerial remuneration,
also owns 0.22% of the company
₹7 cr
company paid
Samanvaya Holdings Private Limited
Sold goods to them · Sale of goods and services Performance guarantee
also owns 2.66% of the company
₹2 cr
company received
Tanti Holdings Private Limited
Sold goods to them · Sale of goods and services AND Performance guarantee expense
also owns 4.62% of the company
₹60 L
company received
Samanvaya Holdings Private Limited
Provision Of Guarantees Or Collateral By Entity · Sale of goods and services Performance guarantee
also owns 2.66% of the company
₹17 L
company received
Tanti Holdings Private Limited
Other payments to them · Sale of goods and services AND Performance guarantee expense
also owns 4.62% of the company
₹16 L
company paid
Girish R Tanti
Other payments to them · Director sitting fees
also owns 0.73% of the company
₹8 L
company paid

The company also transacted with 15 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.