Suzlon Energy share price: Stock hits 5% upper circuit; here's why

The financial services company also cut its price target on Suzlon to ₹71 from ₹78 earlier. In a note, Morgan Stanley said that the renewable energy company's market share may rise between 35% and 40% by FY27.

The stock is trading at ₹62.22, up 4.99%, its upper circuit limit on the NSE. On the BSE, it is trading 5% higher at ₹62.37.

Suzlon Energy: How did the company perform in Q2?

Suzlon Energy reported a 95.7% increase in its consolidated net profit to ₹200.2 crore in the latest September quarter, compared to ₹102.29 crore net profit in Q2 FY24.

The revenue from operations increased 48% to ₹2,103 crore in the quarter under review against ₹1,421 in the corresponding period last fiscal.

EBITDA (Earnings before interest, tax, depreciation and amortisation) rose 31.3% year-on-year (YoY) to ₹293.7 crore.

During the quarter, Suzlon Energy signed India's largest wind energy order of 1,166 megawatts (MW) from NTPC Green Energy Ltd, NTPC Ltd's renewable energy arm, to install 370 wind turbine generators.

On earnings, JP Chalasani, Chief Executive Officer (CEO) of Suzlon Group, said, "We are confident in the long‐term potential of our business with a clear focus on innovation and growth. Our record‐high order book and partnerships with esteemed clients, like Jindal and NTPC, showcase the strength of our strategy and commitment to customer excellence."

"As India's renewable energy journey unfolds, Suzlon is positioned to lead this transformation with sustainable, future‐ready solutions. Strengthening industry fundamentals, enhanced operational efficiency, and a revitalised supply chain will empower us to meet increased project execution demands. With growing momentum in the C&I and PSU segments and a dynamic bidding environment, we are poised for sustained growth and success," he added.