Mumbai News, 04 March 2026: Shares of Suzlon Energy Limited (NSE: SUZLON, BSE: 532667), a leading wind turbine generator (WTG) manufacturer in India, are currently declining. On Wednesday, 4 March 2026, as soon as the market opened, the company’s shares were trading around ₹40.95 to ₹41.00 on NSE and BSE. On Tuesday, 2 March 2026, the shares closed at ₹40.95, showing a 4.03% drop compared to the previous closing price of ₹42.67. This fall has brought the company’s market capitalisation to around ₹56,000 crore.
Suzlon’s share has fallen by around 20% so far in 2026, and is down nearly 44% from the 52-week high (₹74.30). The 52-week low is ₹39.13, which was recently touched.
Motilal Oswal’s 62% rally prediction: Reasons for the bullish call
Leading brokerage firm Motilal Oswal has maintained a ‘buy’ rating on Suzlon Energy, with a target price of ₹66. This target indicates around a 62% increase from the current price. According to the brokerage, the company’s order book is quite strong at about 6.5 GW, which will cover deliveries for FY27 and FY28. Deliveries are expected to be 0.9 GW for FY26 and 3.4 GW for FY27. With a strong order book and India’s renewable energy targets, the medium-term growth outlook is solid. Even though the brokerage has reduced the valuation multiple from 30x to 27x, it brings it in line with the company’s historical average.
ICICI Securities ‘Buy’ rating: more than 53% upside
ICICI Securities has also maintained a ‘Buy’ rating on Suzlon twice and set a target price of ₹65. This target shows more than 53% upside from the current levels. The brokerage firm appreciates the company’s transformation, debt reduction and strategic management changes. The order book is 6.4 GW, which is 4.1 times the FY25 delivery. A revenue CAGR of 30% is expected for FY26-28. There is a positive outlook on the company’s execution and order inflow.
The company’s debt situation and the returns received by investors
Suzlon has significantly reduced its debt over the past few years. By March 2025, the total debt/equity ratio is just 0.05. According to the latest data, the company has around ₹3.97 billion in debt and ₹9.03 billion in cash, meaning it is net cash positive (₹5.06 billion). This shows the company’s strong balance sheet and improvement in debt management.
Investors have seen big returns over the past few years, especially in 2023-2025 when shares soared. However, due to a dip in 2026, short-term returns are negative. Still, strong fundamentals and growth in the renewable energy sector have kept it attractive for long-term investors.
Suzlon’s Q3 FY26 results saw a record 617 MW delivery, 42% revenue growth (₹4,228 crore), and improved profit. The company continues to hold a strong position as India’s wind energy leader, including new orders (e.g,. 248.85 MW from ArcelorMittal).
Even though the market is unstable, the major brokerage firms’ bullish outlook is positioning Suzlon as a key player in the renewable energy sector. Investors should keep an eye on the company’s execution and order book.
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