Suzlon Energy shares increase 3% after getting big wind power order from NTPC

On Monday, the share price of Suzlon Energy rose 3.27 per cent to hit a lifetime high of Rs 77.18 per share on the BSE. The share price of Suzlon Energy jumped today after the company announced that it has received a large order for a wind power plant from NTPC Green Energy.
Suzlon said that in an exchange filing that it has received India’s largest wind power order of 1,166 MW from NTPC Green Energy.
“Suzlon will install 370 wind turbine generators of S144 model, each and every having a rated capacity of 3.15 MW, with hybrid lattice tubular tower.
These turbines will be installed at 2  projects of NTPC Renewable Energy Limited (a wholly-owned subsidiary of NGEL) and one project of Indian Oil NTPC Green Energy Private Limited (a group company of NGEL) in Gujarat,” the company’s exchange filing said.
This order will take Suzlon’s largest ever cumulative order book to around 5 gigawatts (GW) by September 3, 2024, the company said.
In the April-June quarter of financial year 2024-25, the company reported a consolidated net profit of Rs 302.29 crore for Q1FY25, up from Rs 100.90 crore in Q1FY24. Revenue from operations gain 49.60 percent year-on-year to Rs 2,015.98 crore for the quarter ended June 30, 2024.
The total market capitalization of the company is Rs 1.04 trillion. Its shares are trading at a price-to-earnings multiple of 475.12 times with earnings of Rs 0.16 per share.
At 11:16 am, the company’s stock was trading 2.41 percent higher at Rs 76.53. At the same time, the BSE Sensex was trading 0.23 percent lower at 81,373.
Founded in 1995 by Tulsi Tanti, Suzlon Energy operates in the renewable energy sector, specialising in wind and solar power. With over 28 years of experience in wind energy, Suzlon offers a diverse range of products including wind turbines, lattice tubular towers and other renewable solutions.
The company operates in 17 countries across six continents and boasts 14 manufacturing units and 8 R&D facilities. Suzlon’s wind power projects play a vital role in environmental sustainability, equivalent to the CO2 absorption capacity of 4.30 billion trees annually, reducing 51.66 million tonnes of CO2 emissions every year and providing power to 13.08 million homes.