For the past several days, the stock market had been experiencing a significant decline. However, a surge was seen during recent trading sessions. Today, there was a notable drop in midcap and smallcap stocks, including Suzlon Energy’s share price. Despite this, Suzlon Energy’s stock remained in focus.
In a volatile market, stocks are reacting individually. Shares of wind energy company Suzlon Energy Ltd have drawn attention. The stock had previously declined, even with strong quarterly results, which was attributed to changes in the company's management. Over the past month, Suzlon Energy’s share price has fallen by 30%. On Thursday, however, Suzlon shares hit the upper circuit with a 5% gain, reaching Rs 56.73. This marked a halt in the stock’s downward trend and a return of buying interest. The company’s market cap now stands at Rs 77,420 crore, and foreign institutional investors (FIIs) have recently increased their stake in the stock.
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Management Changes
Although Suzlon’s quarterly results were robust, the company recently saw changes in its management. Long-time CEO Ishwarchand Mangal, who served the company for 28 years, stepped down. The company’s performance in Q2 of FY 2024-25 was impressive, with Suzlon reporting a 95.72% increase in consolidated net profit.
Profit Increase
Suzlon reported a profit of Rs 200.20 crore for the recent quarter, up from Rs 102.29 crore in the same period last year. Operational revenue also rose by 47.68% to Rs 2,092.99 crore, compared to Rs 1,417.21 crore last year. The company stated that its EBITDA has shown consistent year-on-year growth, reaching Rs 294 crore.