Hold Suzlon Energy, says Mayuresh Joshi

Mayuresh Joshi of Angel Broking told CNBC-TV18, "Whatever Suzlon Energy has done with the debt reduction and so on, the debt which stood at around Rs 50,000 crore odd which was playing havoc in terms of finance charges and the EBITDA losses that Suzlon was posting - that business selloff has taken the debt back to those levels around Rs 7,000 crore odd as on June 2015. Having said that, if you compare that with its peer, as the investor also wanting to know, something like Inox Wind; the order books are quite similar, so Suzlon's order book is close to 1.1-1.2 giga watts kind of status whereas Inox has got similar order book.""In terms of pure stacking of numbers; Inox Wind's numbers are much more profitable because of the order wins that they have got and expected order wins that they have got under their acquisition of close to 5 giga watts, so Suzlon's fortunes are changing. You have seen that the operating level is seeing massive improvement happening. You have also got some promoter infusion happening. So in the next three-four years with government reforms coming through, the accelerated depreciation norms that the government has introduced in the last year - that is going to have beneficial impact in terms of core numbers stacking out.""So from a year's perspective one can hold on to Suzlon but Inox Wind is something that we have liked from a return's perspective. So with increasing order book, the capex plan already done at its plant in Madhya Pradesh, royalty out of the books, margin expansion should be quite evident and Inox is a profitable business within the wind energy segment. So Inox Wind with a target of Rs 500 for the next 12 months but one can hold on to Suzlon as well," he added.