Shares of Suzlon Energy have been trading below the Rs 50 threshold for a fortnight, marking a significant near-term correction for the multibagger green energy stock. This downtrend began after the company announced its Q1 earnings on July 28, leading to a 10% fall from its high of Rs 53.21 on that date.
Technical Outlook and Support Levels
According to technical analyst Jigar S Patel from Anand Rathi, Suzlon Energy's stock is currently oversold on charts, with its Relative Strength Index (RSI) dropping to 28.9. Patel identifies a support level at Rs 46 and resistance at Rs 50. A decisive breach above Rs 50 could pave the way for an upward movement towards Rs 52. For the immediate short term, the stock is expected to consolidate within the Rs 46-Rs 52 range.
Despite the recent dip, Suzlon Energy shares are still trading 26% higher than their 52-week low of Rs 38.17, recorded on March 9 this year. The stock has demonstrated impressive long-term growth, delivering multibagger returns of 145% over three years and 731% over five years. Currently, it trades higher than its 5-day and 10-day simple moving averages but below its 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day averages.
Brokerage Price Targets and Outlook
Amid the stock's recent consolidation, several brokerages have updated their outlook and price targets for Suzlon Energy:
- Geojit: The brokerage maintains a bullish stance, upgrading its rating to 'BUY' with a price target of Rs 56. Geojit highlights Suzlon's 'Suzlon 2.0' evolution, which expands its market reach beyond standalone turbine sales. While anticipating higher capital intensity due to increased EPC mix and DevCo investments, they believe these strategies will strengthen long-term growth. Geojit's valuation is based on 28x FY28E Adjusted EPS of Rs 2.0, considering the company's net-cash balance sheet, 19% ROE, and 25% earnings CAGR.
- Nuvama: Nuvama has issued a 'Hold' rating, adjusting its price target to Rs 51 (down from Rs 56). The brokerage has trimmed its FY27/28E EPS estimates by 13% and 10% respectively, citing adjustments in margin, depreciation, and interest costs. Their target is based on 30x FY28E (WTG + F&F EPS) combined with a DCF valuation of O&M.
- Centrum Broking: Centrum Broking is the most optimistic, setting a price target of Rs 74 for Suzlon Energy. The brokerage expects margin improvements driven by a recovery in deferred deliveries, enhanced operating leverage, and a growing contribution from the high-margin Operations & Maintenance (O&M) business. They also note the company's net cash position as a key factor supporting its financial resilience.
Q1 FY27 Financial Performance
For the quarter ending June 30, 2026 (Q1 FY27), Suzlon Energy reported a consolidated net profit of Rs 305 crore, a 6% decrease from Rs 324 crore in the corresponding quarter last year. EBITDA for the quarter stood at Rs 595 crore, slightly lower than Rs 599 crore reported a year prior, with an EBITDA margin of 15.6%.
However, the company saw a robust increase in operational revenue, which rose by 22.52% year-on-year to Rs 3,819 crore from Rs 3,117 crore in Q1 FY26. Operationally, Suzlon achieved its highest-ever first-quarter deliveries, reaching 506 MW, a 14% increase year-on-year. Commissioning also surged to 269 MW, marking a 2.3-times rise compared to the same period last year.