Target: ₹82
CMP: ₹52.57
Suzlon Energy is strategically positioned to benefit from India’s expanding wind energy sector, bolstered by significant operational efficiency at its Puducherry facility, which currently operates at approximately 30 percent capacity and has the potential to increase production from 3 to 8 nacelles per day with minimal capital expenditures. The introduction of three AI-enabled blade manufacturing facilities is expected to improve logistics and overall execution.
Concerns regarding delays in central tender processes are alleviated by a robust visibility of around 15 GW in the pipeline, along with a balanced order book, where nearly 51 percent of orders stem from commercial and industrial (C&I) and retail customers. Additionally, India’s emphasis on round-the-clock (RTC) and firm dispatchable renewable energy (FDRE) contracts is reaffirming the significance of wind energy within hybrid portfolios, leading to enhanced project economics compared to a model relying solely on solar and battery energy storage systems (BESS).
As a fully integrated domestic original equipment manufacturer (OEM) with a strong service network, Suzlon is positioned as a key beneficiary of this sector shift, leading to a favorable long-term growth outlook. The company maintains a ‘Buy’ rating with a 12-month target price set at ₹82.
Key Challenges: The industry continues to face certain obstacles, including approximately 12 GW of awarded wind capacity pending Power Sale Agreement (PSA) and Power Purchase Agreement (PPA) execution, as well as around 22 GW of high-quality wind sites allocated for solar projects, which contribute to grid access inefficiencies. It is essential to streamline approval processes, enhance connectivity, and refine procurement frameworks for sustainable growth in the sector.
Published on: December 9, 2025
