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Suzlon Energy Limited (SUZLON) Fair Value & Analysis

Industrials · IN · Market cap ₹720B (≈ $7.6B) · ISIN INE040H01021

What is Suzlon Energy Limited really worth?

SE Suzlon Energy Limited SUZLON · NSE
Price₹45.35
Fair Value₹40.13
Upside−11.5%
Quality58/100

A solid business, but trading 13% above our fair value of ₹40.13.

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Strengths

Solidly profitable · 19.0% net margin
Low debt · generates free cash flow
Ranks above peers (11/14)
Wide moat 72/100

Risks

!Expensive Growth (revenue 5y +38.3 %/yr)
!Evidence only low, so the estimate is less certain
!Weak on valuation: 18 out of 100
Evidence: Low Range ₹24.52 – ₹54.62

Fair value as of: Sep 5, 2026

From 24 valuation models · updated today

Fair value updated Sep 5, 2026, revised from ₹26.64 to ₹40.13 (+50.6%) since Aug 27, 2026. Share price −5.8% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • A fairly wide model range (₹24.52 to ₹54.62) leaves room in how you read the outcome.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Price vs Fair Value (5 years)

₹84.70 ₹5.40 Fair Value ₹40.13 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.

How to read this chart

60‑month range ₹5.40 – ₹84.70 · fair‑value band ₹24.52 – ₹54.62 · the ₹45.35 price screens above the ₹40.13 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 5, 2026.

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Analysis

Suzlon Energy Limited (SUZLON) currently trades at ₹45.35, while our model-based Fair Value estimate is ₹40.13, implying the stock looks roughly 13.0% overvalued today. The Quality Score stands at 58/100 (solid quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of ₹40.55 per share, and 4 of the 24 models we run sit above the ₹45.35 price. Bear case: the Asset-Based group reads lowest at ₹4.61, and 20 of the 24 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Suzlon Energy Limited generated revenue of ₹167B at a net margin of 19.0%. Revenue grew 44.9% year over year. It earns a return on equity of 40.6%. The balance sheet holds a net cash position of ₹752M. Fundamentals as of Sep 5, 2026

Our scenario range runs from ₹24.52 (bear case) to ₹54.62 (bull case); at ₹45.35, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 35% below its 52-week high and 19% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −52% fair-value upside, at −12%, SUZLON screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹0.9936 per share, which is 2.5 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF best evidence ₹6.36 ₹11.02 ₹19.22 78
Growth DCF ₹6.38 ₹10.85 ₹18.72 76
Owner Earnings ₹28.15 ₹49.82 ₹87.92 74
All 24 models by family
DCF Models
FCF DCF best evidence ₹6.36 ₹11.02 ₹19.22 78
Owner Earnings ₹28.15 ₹49.82 ₹87.92 74
5Y Revenue Exit ₹12.54 ₹23.21 ₹37.75 70
5Y EBITDA Exit ₹15.89 ₹29.94 ₹47.48 73
5Y P/E Exit ₹25.01 ₹48.23 ₹74.56 69
10Y Revenue Exit ₹9.93 ₹19.51 ₹34.20 64
10Y EBITDA Exit ₹12.71 ₹24.48 ₹42.32 66
10Y P/E Exit ₹18.82 ₹37.99 ₹64.93 61
Earnings-Based
Graham-Dodd ₹15.65 ₹65.85 ₹89.85 64
Lynch FV ₹16.72 ₹23.89 ₹31.06 61
PEG = 1.0 ₹16.72 ₹23.89 ₹31.06 57
EPV ₹18.35 ₹21.52 ₹24.34 74
Multiples
P/E Multiple ₹36.25 ₹48.34 ₹60.42 63
P/S Multiple ₹18.20 ₹24.27 ₹30.34 58
P/B Multiple ₹23.24 ₹30.99 ₹38.73 55
EV/EBIT ₹25.84 ₹34.32 ₹42.81 66
EV/EBITDA ₹22.11 ₹29.35 ₹36.59 67
EV/Revenue ₹15.68 ₹22.23 ₹28.78 54
Asset-Based
NCAV (Graham) ₹3.44 ₹4.61 ₹6.89 54
Growth DCF
Growth DCF ₹6.38 ₹10.85 ₹18.72 76
Rev-Margin DCF ₹12.54 ₹22.81 ₹35.63 71
Economic Profit
Residual Income ₹20.02 ₹33.27 ₹524.55 64
ROIC Compounder ₹20.50 ₹27.04 ₹35.27 72
Growth Earnings
Growth-Adj P/E ₹28.38 ₹40.55 ₹52.71 67

Widest divergence: Growth Earnings (₹40.55) versus Asset-Based (₹4.61). Highest evidence: FCF DCF (78).

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Key figures & financial health

P/E ratio 19.6
P/S ratio 3.72 P/E × margin
EPS (TTM) ₹2.31 price ÷ EPS = P/E 19.6
Net margin 19.0% FY2026
Return on equity 40.6% TTM
Return on assets (EBIT) 18.9% avg 5y
More key figures
Profitability
Operating margin 16.4% TTM
Growth
Revenue (TTM) ₹167B TTM
Revenue growth (YoY) +44.9% 3y avg +41.8%
EPS growth (YoY) −5.6%
Balance sheet & cash flow
Free cash flow ₹6.3B FY2026
Net cash ₹752M FY2026

Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 58 · Market factors (momentum, volatility) 41

Profitability 79
Margins and returns on capital today
Quality Growth 70
Are margins and returns improving?
Cashflow 23
Earnings quality: real cash, not paper profit
Fin. Strength 71
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 18
Distance to the 52-week high (market factor)
Net Issuance 67
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Suzlon Energy Limited, together with its subsidiaries, manufactures and sells wind turbine generators and related components in India and internationally. It operates through the WTG, Foundry & Forging, O&M services, and Others segments.

Full company description

Suzlon Energy Limited, together with its subsidiaries, manufactures and sells wind turbine generators and related components in India and internationally. It operates through the WTG, Foundry & Forging, O&M services, and Others segments. The company also provides operation and maintenance services for wind turbine generators, as well as project execution, procurement, marketing, and shared service center-related services. In addition, it is involved in the sale/sub-lease of land; manufacture and sale of forging rings and casting articles, as well as power generation and evacuation infrastructure facilities. The company was incorporated in 1995 and is headquartered in Pune, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Suzlon Energy Limited reported revenue of ₹167B in FY2026 versus ₹65.2B in FY2022, a compound +26.5%/yr. Reported net income was ₹31.6B in FY2026.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹167B
Latest YoY
+53.7%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+41.8%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+38.3%
Avg. revenue growth/yr (21Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.8%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+94.1% (94.1 + 0.0)
Revenue +26.5%/yr
FY22 ₹65.2B
FY23 ₹58.5B
FY24 ₹65.0B
FY25 ₹109B
FY26 ₹167B
Net income
FY22 −₹2.0B
FY23 ₹28.5B
FY24 ₹6.6B
FY25 ₹20.7B
FY26 ₹31.6B

SUZLON screens 13% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "Suzlon Energy Limited Fair Value". https://www.fairvalue-calculator.com/stock/SUZLON

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Specialty Industrial Machinery · 792 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 58 · Above median
Fair Value upside −12% · Above median
Return on equity (TTM) 41% · Top 25%
Return on assets 11% · Top 25%
Net margin (TTM) 19% · Top 25%
Operating margin (TTM) 16% · Top 25%
Revenue growth 45% · Top 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 19.6× · Cheaper than median
P/B 7.61× · Pricier than 75% of peers
P/S (TTM) 4.32× · Pricier than 75% of peers
P/FCF 1.2× · Cheaper than median
EV/EBITDA 23.4× · Pricier than median
PEG 0.35× · Cheaper than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE18 · sector 0
FUTURE100 · sector 21
PAST100 · sector 28
HEALTH99 · sector 96
DIVIDEND0 · sector 27

Insider activity: 35/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc GEV $941.84 $131.95 −86%
SIE SIE €289.85 €139.77 −52%
Eaton Corporation ETN $402.78 $168.65 −58%
Parker-Hannifin Corporation PH $995.02 $398.69 −60%
Atlas Copco AB ATCOA kr 206.60 kr 112.59 −46%
Cummins Inc CMI $564.40 $348.94 −38%
Illinois Tool Works Inc ITW $281.67 $145.84 −48%
Emerson Electric Co EMR $155.18 $58.44 −62%
AMETEK, Inc AME $236.25 $125.80 −47%
Rockwell Automation, Inc ROK $417.53 $125.76 −70%

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Frequently asked questions

Is Suzlon Energy Limited (SUZLON) overvalued or undervalued?
As of Sep 5, 2026, our model estimates a fair value of ₹40.13 versus a price of ₹45.35, about −12% upside (overvalued).
What is the fair value of SUZLON?
Our model-based fair value for Suzlon Energy Limited is ₹40.13 (as of Sep 5, 2026), built from audited fundamentals. The current price: ₹45.35.
What is the quality score of SUZLON?
Suzlon Energy Limited has a Quality Score of 58/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Suzlon Energy Limited (SUZLON)?
Suzlon Energy Limited reported trailing-twelve-month revenue of about ₹167B (latest available figure, as of Sep 5, 2026).
What is the net profit margin of SUZLON?
The net profit margin of Suzlon Energy Limited is about 19.0%, meaning it keeps roughly 19.0% of revenue as net income. Based on the latest reported figures.
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