Suzlon Energy shares rose as much as 3 per cent in early trade on Monday before settling flat after multiple brokerages reaffirmed their positive stance on the stock following the company’s investor day, where management outlined a roadmap to transform the wind turbine maker into an integrated renewable energy platform.
The stock closed flat at ₹55.57, after touching an intraday high of ₹56.78 from the previous close of ₹55.08.
Brokerages said Suzlon’s plans to diversify beyond wind turbines into adjacent renewable energy segments could strengthen earnings visibility, improve margins and expand its addressable market, although investors are likely to remain focused on execution.
Motilal Oswal said the investor day addressed key medium- to long-term growth concerns by laying out a clear strategy for expansion and diversification into adjacent renewable energy verticals. The brokerage believes the move could enhance earnings resilience while positioning Suzlon as the most credible and investible player in the Indian wind energy market, backed by its strong market position and execution track record. It reiterated its buy rating with a target price of ₹65.
JM Financial highlighted India’s requirement for 10 GW of annual wind power additions by 2030 and noted that Suzlon has historically commanded about one-third of the market. The brokerage said the company’s evolution into “Suzlon 2.0”—an integrated renewable energy developer spanning multiple technologies and asset management services (AMS)—could significantly expand revenue opportunities beyond turbine manufacturing. It maintained a buy rating and an unchanged target price of ₹65, while noting that successful execution would be critical to the transformation.
Centrum Institutional said Suzlon is well positioned to deliver sustained revenue growth and cash flow generation as wind capacity additions accelerate and service revenues continue to scale. The brokerage expects revenue, EBITDA and profit after tax to grow at a CAGR of 31.2 per cent, 33.4 per cent and 6.8 per cent, respectively, over FY26-FY28. It maintained its buy rating with a target price of ₹75 per share.
Global brokerage UBS also retained its buy rating with a target price of ₹72. The brokerage noted management’s strategic pivot toward becoming an integrated renewable energy platform and its target of increasing installed base market share in wind to 40 per cent over the next five years from about 33 per cent currently. UBS added that Suzlon’s strategy appears relatively asset-light compared with solar manufacturing peers and that its EPC and project development model could improve project execution and predictability.
PL Capital said management is targeting revenue growth of more than 25 per cent annually through FY31, supported by plans to scale annual renewable energy sales to 10 GW and expand its order book to 15 GW. The brokerage noted that Suzlon aims to transition from a wind-only original equipment manufacturer to an integrated renewable energy player spanning wind, solar, battery energy storage systems and energy management solutions to capitalise on growing demand for hybrid and firm dispatchable renewable energy projects.