Suzlon hits new high

Suzlon is one big gainer on the BSE today morning, obviously not governed by the Budget swings but more on account of its performance for Q1FY25.

The company, for the first quarter of current fiscal, posted a 3-times surge in net profit at Rs.302 crore on the back of an almost 50% (YoY) jump in revenues at Rs.2016 crore.

Its order book stands at its highest level ever at 3.8 GW, giving it greater future visibility.

In the current Q1, its deliveries were at 275 MW, much higher than the estimated 250 MW.

The balance sheet is looking very good with net cash standing at Rs.1197 crore as at 30th June 2024.

The stock opened more than 4% higher today at Rs.57.37 and soon jumped up to a new 52-week high at Rs.57.82.