Suzlon Energy shares were trading almost flat in Wednesday's trade. The stock was last seen up 0.07 per cent at Rs 56.97. At this price, it has slipped 12.81 per cent on a year-to-date (YTD) basis.
In terms of earnings, the renewable energy firm reported a 91 per cent jump, year-on-year (YoY), in its consolidated net profit for the third quarter (Q3 FY25). During the quarter under review, profit came at Rs 388 crore as against Rs 203 crore in the year-ago period.
Revenue from operations also surged 91 per cent to Rs 2,969 crore in Q3 FY25 from Rs 1,553 crore in the corresponding period last year. Suzlon said it achieved record quarterly deliveries of 447 MW. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) came at Rs 500 crore for Q3 FY25.
Suzlon Group CEO JP Chalasani, in a recent earnings call, has addressed concerns around the new US administration under president Donald Trump's decision to halt Inflation Reduction Act (IRA) fund disbursements, a move which is likely to impact both US independent power producers (IPPs) and Indian module manufacturers.
We should wait for a few more weeks before we see any impact on India, he stated. "At this stage, I am not seeing anything, significantly negative for us," Chalasani added.
A market expert suggested that investors with a high-risk appetite can consider holding on to the stock. Technically, the counter looked 'bearish' on daily charts.
Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said, "Suzlon's December (2024) quarter results were good as it has registered strong revenue and profit growth. Investors with a high-risk appetite can hold on to the stock for a medium- to short-term period. Despite the decent earnings, the counter is suitable for only those with a high-risk appetite due to the company's legacy issues and balance sheet."
Ravi Singh, Senior Vice-President (Retail Research) at Religare Broking, said, "The counter looked weak on daily charts. A close below Rs 55 level can trigger a fall towards Rs 48 level in the near term."
Osho Krishan, Senior Research Analyst - Technical & Derivatives at Angel One, said, "Support can be seen around the Rs 50 subzone. On the flip side, strong resistance will be at 62 is anticipated to restrict its pullback. Until it breached the same in a decisive manner, the outlook remains sideways to negative in the near term."
Sebi-registered research analyst AR Ramachandran said, "Suzlon energy is bearish on daily charts with strong resistance at Rs 61. A daily close below support of Rs 55 could lead to a downward target of Rs 48 in the near term."
Promoters held a 13.25 per cent stake in Suzlon Energy during the December 2024 quarter.