Shares of Suzlon Energy rose over 2 percent to Rs 58, extending gains for a second session on Monday after Motilal Oswal reiterated its bullish stance on the wind turbine maker, setting a target price of Rs 80, implying a 42 percent upside from the last close of Rs 56.43.
The brokerage hosted Suzlon’s Group CEO J.P. Chalasani, who reaffirmed his long-term commitment to the company, noting that his role carried no defined sunset clause and was driven by the goal of scaling up the business. He also said the appointment of a new CFO is in its final stages.
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Motilal Oswal said government efforts to reduce import dependence through the Approved List of Models and Manufacturers (ALMM) in wind turbine manufacturing could be transformative, positioning India as a global hub while boosting domestic supply chains.
The brokerage highlighted that more clarity is awaited on how localisation will be defined and implemented, but said Suzlon’s domestic readiness gives it a clear edge over overseas competitors. It added that the company plans to enter global markets, with export orders expected by FY26 and deliveries from the second half of FY27, targeting Europe and the Middle East.
Suzlon, the brokerage noted, is uniquely positioned with its in-house R&D, design, and prototype testing facilities, giving it a head start over global rivals who may face long lead times in adapting to localisation rules. While further clarity is awaited on the scope of the localisation order and standard operating procedures, Motilal Oswal believes Suzlon has structural advantages that can translate into market share gains.
Beyond India, the company is preparing to re-enter export markets, with orders expected by FY26 and supplies beginning in the second half of FY27. Europe and the Middle East are the first focus geographies, though the U.S. remains uncertain due to tariffs. Importantly, Suzlon plans to stick to equipment supply in global markets, avoiding execution risks tied to EPC contracts.
On valuations, Motilal Oswal applied a target P/E of 35x FY27 earnings, slightly above Suzlon’s historical average, citing strong execution visibility, policy support, and an expanding order book. "SUEL remains well-positioned to capture growth opportunities," the brokerage said.
At about 9:45 am, shares of the company were trading at Rs xx, higher by xx percent from the last closing price. Suzlon Energy's share price is down 12 percent since the beginning of the year.
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