Buy Suzlon Energy, target price Rs 48: ICICI Securities

ICICI Securities has buy call on Suzlon Energy with a target price of Rs 48. The current market price of Suzlon Energy Ltd. is Rs 37.61.

Suzlon Energy Ltd., incorporated in the year 1995, is a Small Cap company (having a market cap of Rs 52408.85 Crore) operating in Power sector.

Suzlon Energy Ltd. key Products/Revenue Segments include Wind Turbine Generator, Sale of services, Other Operating Revenue, Scrap for the year ending 31-Mar-2023.



Financials
For the quarter ended 31-12-2023, the company reported a Consolidated Total Income of Rs 1569.71 Crore, up 9.87 % from last quarter Total Income of Rs 1428.69 Crore and up 7.21 % from last year same quarter Total Income of Rs 1464.15 Crore. Company reported net profit after tax of Rs 203.04 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 13.29 per cent stake in the company as of 31-Dec-2023, while FIIs owned 17.83 per cent, DIIs 3.0 per cent.