Suzlon Energy Limited

SUZLON.NS

Renewable Utilities · Industrials

Price

₹48.48

-4.67 (-8.79%)

Market Cap

₹666.30B

Exchange

National Stock Exchange of India

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Jul 28, 2026 · filings through Mar 31, 2026

Share count rising — dilution

+10.3% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 12.47B (2022) → 13.76B (2026)

Operating globally and within India, Suzlon Energy Limited, along with its subsidiaries, specializes in the manufacturing and distribution of wind turbine generators and their associated components. The company also provides comprehensive operation and maintenance services for these turbines, alongside project execution solutions. Its activities further encompass land sales or sub-leasing, the supply of foundry and forging parts, and involvement in power generation, including solar operations. Established in 1995, Suzlon Energy Limited is headquartered in Pune, India.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+44.9% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

-5.8% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Cash Position

Cash flow positive

$29.4B cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Strong grower

Suzlon Energy Limited is growing revenue at 45% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

32.2%

Modest — 32.2% gross margin

Operating Margin

16.4%

Healthy — 16.4% operating margin

ROCE

9.2%

Below par — 9.2% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+53.8%

Fast-growing sales (53.8% YoY)

EPS YoY

+52.3%

Earnings growing fast (52.3% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

Weak — only 3% of profit becomes cash

FCF Margin

-1.3%

Burning cash (-1.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.03

Conservative — low debt load (0.03)

Interest Cover

6.84x

Adequate interest coverage (6.8x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)

21.1x

Growth-priced — P/E 21.1

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

+4.2

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (21.1 → 16.9)

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Dividends

Not applicable for this business.

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