Suzlon Vitality and Inox Wind, main gamers in wind power options, have garnered vital curiosity from Dalal Road buyers lately, amid India’s sturdy push to increase renewable power capability by the tip of this decade.
Each corporations are engaged within the manufacturing of Wind Turbine Turbines (WTGs) and offering complete wind power providers.
Following their March quarter outcomes, these corporations have as soon as once more caught investor consideration in current periods.
Analysts have largely retained their optimistic outlook on each corporations and have raised goal costs after the This autumn outcomes met expectations. They imagine the 2 gamers are in a robust place amid the expansion potential of India’s wind power market, which is predicted to rise to 100 GW by 2030 from the present 50 GW.
Though Inox Wind shares reacted negatively in immediately’s session to the March quarter numbers, analysts have retained their constructive outlook on the inventory, citing sturdy execution of wind tasks in FY26 and FY27, which they imagine may lead to a big leap in income and web revenue.
Home brokerage agency Nuvama Institutional Equities reiterated its ‘Purchase’ name and raised the value goal to ₹236 from ₹223, citing Inox Wind’s sturdy place as certainly one of solely two wind EPC suppliers in India, benefiting from demand in RTC, FDRE, and C&I segments.
ICICI Securities additionally reiterated its ‘Purchase’ score and barely raised its value goal to ₹230 from ₹228, valuing the corporate at 30x FY27 estimated earnings. Systematix Institutional Equities maintained a ‘Purchase’ score on Inox Wind inventory, with a value goal of ₹231.
For Suzlon Vitality inventory, Morgan Stanley maintained its ‘Obese’ score with a goal value of ₹77 apiece, whereas Motilal Oswal has additionally retained its ‘Purchase’ score, with a ₹83 apiece goal value.
Suzlon Vitality: Delivers all-round beat in This autumn
For the quarter ended March, Suzlon Vitality reported a web revenue of ₹1,181 crore, in comparison with ₹254 crore in the identical interval final fiscal yr, marking a 365% year-on-year progress. Income from operations rose 73% YoY to ₹3,774 crore throughout the quarter.
For FY25, web revenue jumped to ₹2,072 crore from ₹660 crore in FY24, pushed by a big rise in income to ₹10,851 crore. As compared, the corporate had reported income of ₹6,497 crore in FY24.
Suzlon’s order guide reached a report excessive of 5.6 GW by the tip of FY25, with its S144 platform alone surpassing 5 GW—cementing its place because the dominant product within the Indian wind power market.
For the primary time in its historical past, the corporate’s administration has issued steering, projecting 60% progress throughout all key parameters in FY26. This forward-looking assertion has been effectively acquired by the Road, reflecting the corporate’s confidence and preparedness for future progress.
Inox Wind: Web revenue jumps over fivefold to ₹190 crore
Inox Wind posted a consolidated web revenue of ₹190.34 crore within the March quarter, a greater than fivefold enhance from ₹38.74 crore in This autumn FY24, pushed by a robust surge in revenues.
The corporate’s income from operations greater than doubled to ₹1,310.65 crore in This autumn FY25, up from ₹569 crore in the identical quarter final yr. It reported an order guide of three.2 GW as of March 2025, up from 2.6 GW in March 2024.
In This autumn FY25, execution stood at 236 MW, in comparison with 129 MW in This autumn FY24 and 140 MW in Q3 FY25. For FY25, the administration had guided for 800 MW in annual execution, and the corporate achieved 705 MW. Wanting forward, administration has guided for 1,200 MW and a pair of,000 MW execution in FY26 and FY27, respectively. JM Monetary expects execution to speed up to 1,150 MW in FY26 and 1,750 MW in FY27.
Disclaimer: The views and suggestions given on this article are these of particular person analysts. These don’t characterize the views of Mint. We advise buyers to verify with licensed specialists earlier than taking any funding choices.
