Shares of Suzlon Energy dropped nearly 5% after the company announced the resignation of Ishwar Chand Mangal, the CEO of New Business, effective from the close of business hours on November 8, 2024. Mangal stepped down to pursue new challenges and opportunities outside the company. Consequently, he will also cease to be part of Suzlon’s senior management team.
Suzlon Energy, known as India’s largest renewable energy solutions provider, operates across 17 countries on six continents. The company specializes in designing, developing, manufacturing, and supplying wind turbine generators (WTGs).
Despite recent strong financial performance—with a 95.72% surge in consolidated net profit to ₹200.20 crore and a 47.68% rise in revenue from operations to ₹2,092.99 crore in Q2 FY25 compared to Q2 FY24—the departure of a key executive has impacted investor sentiment.
As of 10:22 am, Suzlon’s shares were trading 4.72% lower at ₹59.55 on the NSE.
