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Indian wind turbine manufacturer, one of the pioneers of wind energy in India, providing turbines and O&M services.
Indian wind turbine manufacturer, one of the pioneers of wind energy in India, providing turbines and O&M services.
Builds and installs turbines for power producers and companies, then maintains them under multi-year service contracts, which gives steadier income than turbine sales. Most sales are in India. A 2020 debt restructuring and later share issues rebuilt its balance sheet after earlier distress, and the Tanti family founders remain major shareholders.
Moat: narrow (installed base, brand). A large installed turbine base in India generates recurring O&M service revenue, though the company faced past financial distress.
Headquarters: Pune, India · Founded: 1995 · Employees: 8,301
Size Suzlon Energy (SUZLON.NS) is an India Industrials company (Electrical Products) with a market value of $5.65B, the 196th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹38.80 on 6 Nov 2026.
Performance Over six months the shares fell 30.3%, against -32.7% for the median peer and 0.0% for the India market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 33.9% over the last twelve months (peer median +6.9%); the operating margin is 14.5% (peer median 9.0%).
Valuation It trades at 21.2× forward earnings against a peer median of 22.0× (9th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 34% a year for seven years (Req g). Recent delivered growth is +38%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.5 points above its cost of capital (19.0% WACC).
Next results Next results expected around 3 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹184B | ₹167B | ₹109B | ₹65.3B | ₹59.7B |
| Revenue growth | — | +53% | +67% | +9% | — |
| Gross profit | ₹46.3B | ₹37.5B | ₹22.5B | ₹13.1B | ₹9.46B |
| EBITDA | ₹30.7B | ₹30.5B | ₹18.4B | ₹10.6B | ₹8.44B |
| Net income | ₹22.6B | ₹31.6B | ₹20.7B | ₹6.60B | ₹28.5B |
| Free cash flow | n/a | ₹5.15B | ₹6.98B | -₹2.30B | -₹474M |
| Capital expenditure | n/a | ₹5.77B | ₹3.71B | ₹2.27B | ₹1.01B |
| Total debt | ₹6.73B | ₹5.56B | ₹3.23B | ₹1.50B | ₹19.4B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Suzlon Energy SUZLON.NS | $5.65B | -30% | +34% | 15% | 21.2× | 34.0% |
| Vestas Wind Systems A/S VWS.CO | $31.0B | +8% | +10% | 7% | 21.3× | 0.5% |
| Siemens Energy ENR.DE | $111B | -33% | +9% | 9% | 26.4× | 17.3% |
| Inox Wind INOXWIND.NS | $1.49B | -39% | +17% | 15% | 15.4× | n/a |
| GE Vernova GEV | $205B | -26% | +17% | 7% | 32.2× | 24.9% |
| Nordex NDX1.DE | $11.4B | -7% | +12% | 8% | 19.6× | 3.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SUZLON.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.2% | -19.2% | 2nd highest of 21 |
| 6-month return | -30.3% | -32.7% | 9th highest of 21 |
| Distance from 52-week high | -36.9% | -54.3% | 7th highest of 21 |
| Revenue growth (TTM) | +33.9% | +6.9% | 7th highest of 21 |
| Operating margin | 14.5% | 9.0% | 7th highest of 21 |
| Forward P/E | 21.2× | 22.0× | 9th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 34.0% | 12.0% | 3rd most demanding of 14 |
| Growth delivered (Del g) | +37.9% | +13.1% | highest of 14 |
| Hurdle (Req g minus delivered) | -3.9 pp | -4.2 pp | 7th most demanding of 14 |
| ROIC minus cost of capital | +1.5 pp | -0.4 pp | 11th highest of 21 |
| EV / EBITDA | 17.2× | 13.7× | 4th most expensive of 9 |
| Net debt / EBITDA | -0.1× | 0.8× | 4th least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Suzlon Energy SUZLON.NS | India | $5.65B | -30% | +34% | 15% | 21.2× | 34.0% | +37.9% |
| Shandong Sinocera Functional Material 300285.SZ | China | $5.67B | +8% | +23% | 14% | 48.6× | 40.1% | +12.6% |
| Hebei Sinopack Electronic Technology 003031.SZ | China | $5.62B | -33% | +43% | 19% | 36.1× | 34.9% | +28.6% |
| Yaskawa Electric 6506.T | Japan | $5.71B | -38% | +6% | 8% | 19.7× | 24.8% | +6.8% |
| Wolong Electric 600580.SS | China | $5.39B | -39% | -11% | 4% | 39.6× | 25.2% | +4.2% |
| Forgent Power Solutions FPS | United States | $5.93B | -52% | +89% | 14% | 14.4× | n/a | n/a |
| Sunwoda Electronic 300207.SZ | China | $5.37B | -33% | +36% | -1% | 16.0× | n/a | n/a |
| EnerSys ENS | United States | $5.30B | -36% | +4% | 15% | 11.3× | 0.5% | +4.7% |
| Gates Industrial GTES | United States | $6.05B | -8% | +4% | 16% | 12.8× | 9.7% | +4.3% |
| Nexans NEX.PA | France | $6.06B | -26% | -13% | 6% | 17.2× | 5.6% | +5.5% |
| Jiangsu Yoke Technology 002409.SZ | China | $6.12B | +1% | +7% | 15% | 32.1× | 26.4% | +30.6% |
| HANGZHOU FIRST APPLIED MATERIAL 603806.SS | China | $5.14B | -30% | -9% | 9% | 22.0× | 7.5% | +13.1% |
| Qingdao TGOOD Electric 300001.SZ | China | $4.97B | +6% | +14% | 9% | 21.9× | 12.0% | +16.2% |
| Ningbo Orient Wires & Cables 603606.SS | China | $4.96B | -23% | +36% | 12% | 21.1× | 3.6% | +16.5% |
| Gotion High-tech 002074.SZ | China | $6.45B | -32% | +54% | 3% | 25.6× | n/a | n/a |
| Hunan Yuneng New Energy Battery Material 301358.SZ | China | $6.46B | -50% | +130% | 9% | 7.8× | n/a | n/a |
| Ecopro BM 247540.KS | South Korea | $6.53B | -60% | -4% | 6% | 965.8× | n/a | n/a |
| Shenzhen Megmeet Electrical 002851.SZ | China | $6.55B | -38% | +29% | 1% | 60.9× | n/a | n/a |
| Powell Industries POWL | United States | $4.85B | -57% | +7% | 20% | 21.2× | 11.2% | +16.3% |
| Fortune Electric 1519.TW | Taiwan | $4.75B | -50% | +5% | 21% | 26.0× | 16.1% | +23.6% |
| Nkt A/s NKT.CO | Denmark | $6.73B | -15% | +2% | 7% | 26.4× | n/a | n/a |