Global Wind Energy Council (GWEC) expects India to reach 122GW of installed wind capacity by FY32E. This signals an upcycle for wind OEMs like Suzlon Energy. We expect Suzlon to deliver 2.1GW of Wind turbine generators (WTG) in FY26E, resulting in 73% CAGR from 0.7GW in FY24. Currently, Suzlon has 3.31GW of unexecuted orders, with its sales expected to grow at a 53 per cent CAGR, surpassing the industry growth of 18 per cent. Despite factoring in execution risks, the EPS is expected to grow at a 66 per cent CAGR, resulting in a ROE improvement from 18.2 per cent in FY24A to 26.8 per cent in FY26.

Source: The Hindu July 25, 2024 15:39 UTC