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Suzlon Energy shares rise 3% on winning large wind energy order from NTPC
Source: Business Standard
Suzlon Energy stock price surged up to 3.27 per cent to record an intraday high of Rs 77.18 per share on the BSE on Monday. Suzlon Energy’s share price today climbed after the company announced that it has received a large order from NTPC Green Energy for a wind energy plant.
Suzlon in an exchange filing said that it has secured India’s largest wind energy order from NTPC Green Energy (the renewables arm of NTPC Limited) for 1,166 Megawatt (MW).
“Suzlon will install 370 wind turbine generators (WTGs) of the S144 model, each with a rated capacity of 3.15 MW, featuring a Hybrid Lattice Tubular (HLT) tower. These turbines will be deployed across two projects of NTPC Renewable Energy Limited (a wholly owned subsidiary of NGEL) and one project of Indian Oil NTPC Green Energy Pvt. Ltd. (a group company of NGEL) in Gujarat,” the company’s exchange filing read.
This order brings Suzlon’s largest-ever cumulative order book to nearly 5 Gigawatt (GW) as of September 3, 2024, the company said.
In the April-June quarter of financial year 2024-25 (Q1FY25), the company reported a consolidated net profit of Rs 302.29 crore for Q1FY25, up from Rs 100.90 crore in Q1FY24. Revenue from operations surged 49.60 per cent year-on-year (YoY) to Rs 2,015.98 crore for the quarter ending June 30, 2024.
The company has a total market capitalisation of Rs 1.04 trillion. Its shares are trading at a price to earnings multiple of 475.12 times with an earning per share of Rs 0.16 per share.
At 11:16 AM; the share price of the company was trading 2.41 per cent higher at Rs 76.53. By comparison, the BSE Sensex was trading 0.23 per cent lower at 81,373 levels.
Founded in 1995 by Tulsi Tanti, Suzlon Energy is engaged in the renewable energy sector, specialising in wind and solar power. With over 28 years of experience in wind energy, Suzlon offers a diverse range of products, including wind turbines, lattice tubular towers, and other renewable solutions.
The company operates across 17 countries on six continents and boasts 14 manufacturing units and 8 research and development facilities. Suzlon’s wind energy projects play a crucial role in environmental sustainability, equivalent to the CO2 absorption capacity of 4.30 billion trees annually, reducing 51.66 million tonnes of CO2 emissions each year, and providing power to 13.08 million households.
First Published: Sep 09 2024 | 11:18 AM IST
