suzlon energy share price: Suzlon Energy shares under pressure post Q4 results; brokerages raise target price to Rs 54

The consolidated net profit in the 2023-24 fiscal year also declined to Rs 660 crore from Rs 2,887 crore a year earlier while total income rose to Rs 2,207.43 crore in the quarter from Rs 1,699.96 crore in the same period a year ago.

Despite a decline in net profit for the fourth quarter, brokerages are bullish on the stock as they predict a 20% upside potential for the stock.

Here’s what analysts have to say:

ICICI Securities

It has been a real turnaround year for Suzlon Energy (Suzlon), with net debt free, strong execution growth of 10% to 710 MW and order inflow of 3.1GW in FY24. Suzlon has reported a strong order inflow of 3.1GW in FY24 and 402MW in FY25-YTD, robust order backlog of 3.3GW as of date (5x TTM execution of 710MW) while order inflow pipeline remains strong in the medium term (either it can be still or medium term).

ICICI Securities has maintained a ‘buy’ view on the stock with a target price of Rs 54.

JM Financial

Backed by strong tailwinds with India committed to achieving 500 GW of non-fossil fuel capacity by 2030, a strong order book and a good margin performance, Suzlon seems to have a promising future. JM Financial has a ‘buy’ rating with an unchanged target price of Rs 54 for the stock.

Also read: Nazara promoter sells 6.38% stake to Plutus Wealth, stock up 4%

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)