Suzlon Energy Share Price Target 2024: Brokerage sees 20% upside potential - Buy, Sell or Hold?

Edited by : Kumar Gaurav Updated Jun 15, 2024 | 04:44 PM IST Photo : ET Now Digital Shares of Suzlon Energy have a 52-week range of Rs 52.19 - Rs 13.28 on the BSE.

Suzlon Energy Share Price Target 2024 : Domestic brokerage firm ICICI Securities remains bullish on Suzlon Energy stocks. Suzlon Energy is India’s leading renewable energy solutions provider, offering a 360-degree total solutions package to its customers that covers the entire spectrum of wind energy projects. Shares of Suzlon Energy ended the week's last trading session at Rs 49.47, down 0.78 per cent from their previous close of Rs 49.86 on the BSE.

Suzlon Energy - Fundamental Analysis

Although the stock has offered remarkable returns over the last year, the long-term growth shows a different picture. The stock, which was once above Rs 400, is currently trading around Rs 40-Rs 50. The company's total revenue is around Rs 6,500 crore, and the company's net income is around Rs 660 crore. From what we have seen on the chart, we can directly observe in the company's financials how the company was in loss in 2022 and in 2020 as well, when its net income was negative.

There is not much difference between the company's total assets and liabilities, considering that the company often inflates its assets. The company is almost as much in debt as it has in assets, which is not a very good sign. As of 2023, the company has recorded cash of Rs 365 crore. From an entry point perspective, the stock is overvalued. Its performance has been good in recent years, but it is still quite behind in terms of growth.

Marc Desaedeleer, who has been an independent director of the company for 12 years, resigned recently on June 8, 2024. In his resignation letter to the chairman of the board of directors, Marc expressed dissatisfaction with the company's corporate governance and transparency levels. He, however, did not report any financial or legal wrongdoing in the company. On the other hand, he shared some suggestions related to the company's growth. Suzlon has been working on reducing its debt and making its working capital more efficient for the past 15 months. The company plans to continue improving its corporate governance and has already taken steps to increase transparency.

Despite the resignation, considering the company's efforts in recent months, brokerage ICICI Securities has maintained a Buy rating. At the current price of Rs 50, the brokerage has assigned a price target of Rs 60.

Suzlon Energy Share Price History

According to BSE analytics, Suzlon Energy stock has dropped 0.74 per cent in the last week, while it gained 23.09 per cent in the last month. Shares of Suzlon Energy have increased nearly 32.52 per cent in the last six months and a whopping 243.30 per cent in the last year, as per BSE data.

Suzlon Energy stock has offered a return of 550.07 per cent in the last two years, 665.79 per cent in the last three years, 1205.28 per cent in the last five years, and 65.07 per cent in the last ten years to its investors, as per the data available on the BSE.

Shares of Suzlon Energy were quoted at their 52-week high of Rs 52.19 on the BSE on June 4, 2024, while they were at the 52-week low of Rs 13.28 on June 23, 2023.

Suzlon Energy commands a market cap of Rs 67,298.30 crore on the BSE as of June 15, 2024. The energy solutions provider company is a constituent of the S&P BSE 500 index on the BSE.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)