Suzlon Energy shares hit a 5 per cent upper circuit in Wednesday's trade, at Rs 52.76 per share. The buying in the stock sparked after the company posted strong Q3FY25 results.
Around 10:43 AM, Suzlon share price was up 5 per cent at Rs 52.76 per share on BSE. In comparison, the BSE Sensex was up 0.49 per cent at 76,275.82. The market capitalisation of the company stood at Rs 72,004.63 crore. The 52-week high of the stock was at Rs 86.04 per share and the 52-week low was at Rs 86.04 per share.
On Tuesday, after market hours, Suzlon Energy reported a 91 per cent increase in consolidated net profit of Rs 387 crore as compared to a profit of Rs 203.04 crore a year ago. The revenue of the company for the quarter under review rose 91.2 per cent to Rs 2,968.81 crore as compared to Rs 1,552.91 crore a year ago.
Suzlon’s Ebitda margin for Q3FY25 was recorded at 16.8 per cent, a slight increase compared with 15.9 per cent in the corresponding period last year.
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Expenses increased by 91.06 per cent to Rs 2,611.03 crore for Q3FY25, compared with Rs 1,366.58 crore in the previous year.
The company said in a statement that it has upgraded its nacelle manufacturing facilities in Daman and Puducherry, boosting its annual production capacity to 4.5 GW.
To further scale operations, it is adding two additional production lines at its Ratlam and Jaisalmer facilities. Strengthening its order pipeline, the company has secured three major orders and reinforced partnerships with key clients, including Jindal Renewables and Torrent.
"We are experiencing consistent quarter-on-quarter growth, with each of our businesses operating as strong, independent entities driving performance. Our manufacturing capacity expansion in India is progressing as planned to fulfill our record-high order book of 5.5 GW," said JP Chalasani, chief executive officer, Suzlon Group.
The C&I (commercial and industrial) and PSU (public sector undertaking) segments constitute 80 per cent of its total order book, with the S144 model accounting for 92 per cent of overall total orders.
In the past one year, Suzlon Energy shares have gained 14.6 per cent against Sensex's rise of 5.5 per cent.