Suzlon Energy shares traded 52-week high for second day in a row today after the company informed RLMM listing of its S144 – 3 MW series of wind turbines which are extendable to 3.15 MW making them a formidable force in the market.
This listing marks an important milestone for successful commercialization of the product.
Suzlon has already installed the first prototype of this series at a hub height of 160m with a Hybrid Lattice Tubular (HLT) tower at the Gondal site in Gujarat. Currently the product is in the process of serial manufacturing and commercialization
JP Chalasani, Chief Executive Officer, Suzlon Group, said, “This listing comes at the right time after our S144 product received enthusiastic response from the market, evident from the strong order inflow. Transformation toward more energy-efficient products is driving the Indian wind energy market. It is imperative for us to offer technologically advanced products that are best suited for sites in India, ensuring a higher return on investment (ROI) for our customers. Considering India’s varied wind regimes and terrains, the S144 turbine is designed to make it customizable for the site-specific requirements for higher PLFs (Plant Load Factor).”
Earlier yesterday, Suzlon Energy stock hit 52-week high after its inclusion in MSCI India Index. Suzlon Energy figured among 9 stocks that are scheduled to be added to the index as part of the rejig that will be effective from November 30, 2023.
Suzlon Energy Stock Performance & Return: Last trading price of Suzlon Energy stock 42.06 apiece on BSE. Its 52-week high price is Rs 42.50 per share and 52-week low price is Rs 6.96 per share, respectively. The company has a market capitalisation of Rs 57,097.55 crore. Suzlon Energy shares gained 411% in last 6-months, jumped 292% YTD, soared 418% in last 1-year, and offered return of 553% in last 2-years. In last 3-years, Suzlon Energy shares gained 1148%.
Suzlon Energy Quarterly Results: The company on November 2, 2023 declared more than 81% surge in consolidated net profit to Rs 102.29 crore for the quarter ended September 30, 2023-24 amid fall in expenses. The company announced its net profit in the year-ago period at Rs 56.47 crore, as per the BSE filing. The company’s total income fell to Rs 1,428.69 crore in the Q2 from Rs 1,442.58 crore in the corres ponding period a year ago. Total expenses fell to Rs 1,291.26 crore from Rs 1,427.84 crore.
“At the end of Q2 FY24, our orderbook stands at a healthy 1,613 MW…Our service business continues to do well, while our forging and foundry business SE Forge consolidated on its foundation for future growth,” J P Chalasani, Chief Executive Officer, Suzlon Group, said.
Suzlon Energy About:The Suzlon Group is one of the leading renewable energy solutions providers in the world with ~20.3 GW* of wind energy capacity installed across 17 countries. Headquartered at Suzlon One Earth in Pune, India; the Group comprises of Suzlon Energy Limited (NSE: SUZLON & BSE: 532667) and its subsidiaries. A vertically integrated organisation, with in-house research and development (R&D) centres in Germany, the Netherlands, Denmark and India, Suzlon’s world-class manufacturing facilities are spread across 14 locations in India.
