Where Will Suzlon Energy Share Price be in 3 Years?

India's installed wind capacity can more than double from 51 GW to 107 GW by 2030, according to a report by The Global Wind Energy Council.

The nation is committed to installing 500 GW of non-fossil capacity by 2030, including 100 GW from wind.

With wind expected to contribute nearly a quarter of the renewable mix, India is not only building clean energy infrastructure, but is also moving rapidly towards clean energy.

As demand soars, there are many companies that will benefit. One such company is Suzlon Energy.

In this editorial, we will also consider the prospects of the stock of Suzlon Energy. However, readers should note that this is not a recommendation on the stock in any form.

About Suzlon Energy

Suzlon Energy is an Indian multinational company and a leading renewable energy solutions provider specialising in wind turbine manufacturing and wind power project services.

The company is vertically integrated, manufacturing all major components of wind turbine generators (WTGs) such as rotor blades, tubular towers, generators, gears, and nacelles.

Suzlon also offers wind project planning, execution services, and operations & maintenance (O&M) both in India and abroad.

The company has a proven track record of proficient technology with over 13,170 turbines installed across diverse climatic conditions.

Solid Financial Numbers

Suzlon Energy reported strong Q2 FY26 results with significant year-on-year growth in key metrics. Revenue surged 85% to Rs 38.7 billion (bn) from Rs 21.03 bn.

The EBITDA increased by 145% to Rs 7,210 m, with an improved EBITDA margin of around 18.6%.

However, it was the net profits that drew attention surging to Rs 12,794 m from Rs 2,006 m YoY. The company recognised incremental deferred tax assets of Rs 7,170 m during the quarter, substantially boosting bottom-line profitability.

Suzlon Q2 FY25 vs Q2 FY26

Source: Equitymaster

The company saw its highest-ever Q2 deliveries of wind turbines in India at 565 MW, up 121% YoY. Order book expanded to 6.2 GW, including over 2 GW added in the first half of FY26.

The net cash balance stood at Rs 14.8 bn as of 30 September 2025.

The company's strategy of decoupling project development and project execution will drive execution volumes significantly going forward. With long-term visibility of 400 GW wind capacity by 2047 the company stands to gain.

Robust Industry Tailwinds

Suzlon Energy is likely to benefit from solid Industry tailwinds. India's US$ 10 trillion GDP vision by 2032 including urbanisation, data centers, and electric vehicle adoption are likely to drive electricity demand.

In fact, the nation is set to scale-up power capacity to 2,100 GW by 2047, including 400 GW from wind.

Key Demand Drivers for the Wind Energy Business

• India aims for 122 GW of wind by 2031-32.
• Onshore wind potential: 695 GW (120m HH) and 1,164 GW (150m HH).
• GST reduction on wind equipment to 5%.
• India to launch its own carbon market by 2026.
• More wind installations lead to lower levelised cost of energy and greater grid stability.
• Energy demand growth is projected to grow with a CAGR of 7% from FY24 to FY30, surpassing the historical 5%. Electricity demand to hit 708 GW by 2047.

The recent GST reduction on wind equipment's from 12% to 5% is to further optimise levelized cost of energy and benefit the industry and company.

The wind energy business also has significant potential as an export hub for wind components for global markets.

Should You Consider the Stock of Suzlon Energy?

Operational strength of Suzlon Energy is evident from its highest-ever deliveries and a robust order book of 6.2 GW.

This apart, Suzlon Energy is India's largest domestic wind turbine manufacturer with a positive growth outlook driven by long-term demand for wind energy. It has a strong balance sheet with net cash of Rs 14.8 bn and a low debt-to-equity level.

However, potential investors should weigh the valuations against execution and sector risks, matching it with their risk tolerance and investment horizon.

Investors should evaluate the company's fundamentals, corporate governance, and valuations of the stock as key factors when conducting due diligence before making investment decisions.

Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. Learn more about our recommendation services here...