Motilal Oswal Financial Services (MOFSL) has initiated coverage on Suzlon Energy with a ‘Buy’ rating and a target price of ₹70, highlighting the company’s market leadership, improving financial profile, and long-term potential in India’s renewable energy transformation.
Suzlon is a pioneer in wind energy, with a global installed capacity of 20.9 GW across 17 countries. It is India’s largest wind energy solutions provider, commanding over 15 GW of installations domestically. The company operates a vertically integrated model, spanning wind turbine manufacturing, project execution, foundry and forging, as well as operation and maintenance (O&M) services. Suzlon’s integrated capabilities provide it with cost advantages and a strong edge in quality control and timely project delivery.
MOFSL forecasts an impressive 63% CAGR in earnings per share (EPS) for Suzlon over FY24-27, driven by rising capacity addition in India’s wind segment, margin expansion through operating leverage, and debt reduction efforts. With strong policy tailwinds, particularly in India’s green energy mission and ambitious renewable energy targets, Suzlon is well positioned to capture a lion’s share of upcoming installations.
The brokerage believes the stock remains reasonably priced despite recent gains, offering investors a compelling opportunity to participate in India’s clean energy transition.
