Suzlon Vitality Shares Could Rally 35% Says ICICI Securities After Q3 Outcomes — Test Revised Goal Worth – Imperial Wire

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Suzlon Vitality Ltd. is again in form after a tumultuous interval during the last decade. Over the previous three years, the corporate has pared its debt from Rs 12,000 crore in FY20 via numerous debt to fairness conversions. With that, it turned internet money optimistic with a money reserve of Rs 1,300 crore, as of Sep’24, after a profitable fairness elevate value Rs 2,000 crore in Q2 FY24 for debt discount. Since then, Suzlon has improved its money place considerably.

Furthermore, main optimistic adjustments in regulatory coverage and finally on enterprise entrance bode properly for the wind business. The federal government has determined to tender out at the least 10GW of wind capability yearly with pick-up in demand from industrial and industrial entities for round the clock energy provide. Suzlon, being the market chief within the wind turbine business, is the pure beneficiary of this shift, within the brokerage’s view.

Outlook for wind business is optimistic over medium to long run, given India’s RE and wind capability targets. Additionally, given the rising complexity of RE energy tasks (from plain vanilla photo voltaic or wind to hybrid, RTC and FDRE), we imagine wind could play a vital position in RE era going forward.

The corporate’s order e-book, as of Jan’26, stood at ~6.4GW, which is 4.1x its FY25 wind turbine supply quantity. Thus, owing to robust order backlog of 6.4GW and optimistic outlook for order influx given India’s RE targets, the brokerage stay optimistic on the inventory.

ICICI Securities maintains Purchase, with a revised goal worth of Rs 65 (Rs 76 earlier), valuing the enterprise at 32x FY28E EPS (40x FY27E EPS earlier). The brokerage have barely revised its estimates based mostly on 9MFY26 efficiency.

Key dangers: Any shock in WTG execution and OI; any delay in execution.

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Additionally Learn: Bajaj Finserv, Tata Motors PV, Godrej Properties, LIC, Aavas, Apollo Tyres & Extra Q3 Evaluate— Test Goal Worth

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