Discover why Suzlon Energy's stock fell 5%
after the result publication. 9% drop in Q4 net profit. Read our
detailed technical analysis of Suzlon's share price and market impact.
Suzlon Energy Ltd reported
a 9 percent decline in consolidated net profit, which stood at Rs 254 crore for
the March quarter FY2023- 2024.Last year, in the same quarter the company
recorded a net profit of Rs. 280 crore. Although, in the current year the
company's net profit is lower than the last year, the company saw a significant
rise in revenue from operations. It increased by 29 percent to Rs 2,179 crore
in the latest quarter, up from Rs 1,689 crore during the same period of the
previous financial year.
Following the publication
of its quarterly earnings report, Suzlon Energy's shares dropped nearly 5
percent, hitting a lower circuit at Rs 45.89 per share on the BSE. Although, the stock has seen a 9 percent increase over the past month and a 19 percent rise
since January of the current year.
For the current quarter,
Suzlon Energy's EBITDA surged by 54 percent year-on-year, reaching Rs 357.2
crore. The margin also improved by 260 basis points which is a growth of 16.3
percent compared to last year's 13.7 percent growth.
It concluded the year with
a net cash balance of Rs 1,148 crore.
The management of Suzlon Energy highlighted in its earnings presentation that it ended fiscal year 2024 with its largest-ever order book of 3.3 GW. The company recently secured a repeat order of 402 MW from Juniper Green Energy.
Suzlon is going to install
134 wind turbine generators (WTGs) with Hybrid Lattice Tubular (HLT) towers,
each having at its proposed site in Fatehgarh, Rajasthan.Each HLT has a
capacity of 3 MW. According to a management statement, Suzlon will handle the
entire project, which includes supplying the turbines, building foundations,
erecting the structures, and commissioning the turbines.
Technical
Analysis of Suzlon Energy Share Price:
Suzlon Energy, whose
market capitalization stood at Rs. 61922.41 crore made a big bearish engulfing pattern on 24th May, 2024 which is a negative sign. It has its
immediate support at Rs.43, which if broken it can go downward. It closed at
Rs. 45.95 4.87% lower. It has a strong resistance at Rs. 52.60 which is its 52 weeks high. If Suzlon will breakout this level it can
make new highs in the coming days. In all three time frames the RSI above 60
level which indicates high momentum in the stock.
Investors are advised to
keep close watch on overall market situations regarding the impact of upcoming
results of the Loksabha Election. At the same time, market is at all-time high.
After analyzing everything, they should take their steps.
Disclaimer: The information provided on MoneyWiseMind is for educational and informational purposes only. It is not intended to be financial advice, and you should not rely on it as such. Before making any financial decisions, you should consult a licensed financial advisor.
