Archive · 7 Nov 2025
Anand Rathi Sees Up To 44% Upside in Suzlon Amid Record Order Book
A company called Suzlon makes wind turbines and has received a lot of new orders, a record amount.
This makes one financial analyst group, Anand Rathi, very happy, and they think Suzlon's stock price could go up by almost half.
Suzlon had a really good quarter recently, making much more money than before.
Another analyst group, JM Financial, also likes Suzlon but thinks its stock might not grow as much because it's hard for companies to build wind turbines quickly.
Other analysts also have different opinions on how well Suzlon will do and what its stock is worth.
Despite some recent drops in its stock price, Suzlon is still doing well in a growing industry.
Anand Rathi maintains a 'BUY' rating on Suzlon Energy with a raised target price of Rs 82, indicating a potential 44% upside from recent lows.
Suzlon reported a record Q2 FY26 with significant year-on-year growth in revenue (84%), EBITDA (145%), and PAT (166%), beating estimates.
The company holds a record order book of 6.2 GW, with expected annual industry installations of 9-10 GW by FY28.
JM Financial also recommends a 'BUY' but sets a lower target price of Rs 70, citing potential execution bottlenecks limiting growth from FY28.
Motilal Oswal Financial Services reiterated a 'BUY' with a target price of Rs 74, adjusting their valuation multiple downwards.
- Who
- Anand Rathi Share & Stock Brokers, Suzlon Energy, JM Financial, Motilal Oswal Financial Services, Nuvama Institutional Equities
- What
- Anand Rathi has maintained a 'BUY' rating on Suzlon Energy with a raised target price of Rs 82, citing a record order book and strong quarterly performance. Other brokerages like JM Financial and Motilal Oswal also recommend 'BUY' with different target prices and valuations, while Nuvama retains a 'HOLD'.
- When
- Recent analysis following Suzlon's Q2 FY26 results and order book announcements.
- Where
- India
- Why
- Suzlon's strong order book, robust quarterly performance, and industry tailwinds in wind energy are key drivers. Concerns exist regarding execution bottlenecks and future diversification.
Anand Rathi
JM Financial
Growth Momentum & FY28 Outlook
Anand Rathi
Expects Suzlon to deliver 3.9GW in FY28 and maintain growth momentum. Believes industry installations will increase by 9-10GW annually by FY28.
JM Financial
Believes execution bottlenecks will limit annual installations to 7-8GW and Suzlon may struggle to maintain growth momentum from FY28 without scalable diversification. Expects execution of 3.5GW in FY28.
Valuation and Target Price
Anand Rathi
Maintains BUY rating, values stock at 40x Sep’27 EPS, with a target price of Rs 82, suggesting a potential 44% upside from recent lows.
JM Financial
Maintains 'buy' with a target price of Rs 70, considering expected execution.
- Firm Recommending Buy
- Anand Rathi Share & Stock Brokers
- Record Order Book
- 6.2 GW
- Q2 FY26 Performance Highlights
- Revenue up 84%, EBITDA up 145%, PAT up 166% YoY.
- Deliveries in Q2 FY26
- 565 MW (highest ever)
- Anand Rathi Target Price
- Rs 82
- JM Financial Target Price
- Rs 70
- Net Cash Position
- Rs 1,480 crore