Suzlon Energy Share Price Target: UBS Maintains “Buy” Rating

Suzlon Energy has received a strong “Buy” rating from global brokerage UBS, which has set a positive target price of ₹72 per share

Global financial services firm UBS has reaffirmed its positive stance on Suzlon Energy, maintaining a “Buy” rating with a target price of ₹72 per share. This target implies an upside potential of approximately 25% to 35% from the company’s recent trading price, which was in the range of ₹53 to ₹57. This bullish outlook follows the company’s recent investor conference, where management unveiled its major “Suzlon 2.0” transformation roadmap.

The brokerage highlighted Suzlon’s structural transformation from a traditional wind turbine manufacturer to an asset-light, full-stack renewable energy platform. By partnering with external solar manufacturers and utilizing an engineering, procurement, and construction (EPC) model, the company aims to increase project predictability and manage financial risk more effectively.

Under the new Suzlon 2.0 blueprint, the renewable energy major is targeting a compound annual growth rate (CAGR) of over 25% in its domestic wind revenue. The firm expects its share of India’s wind installed base to increase from the current 33% to over 40% within the next five years.

Looking to fiscal year 2031, Suzlon has set a lofty target of quadrupling its annual renewable energy sales to 10 GW. Additionally, the company aims to increase its total assets under management (AUM) to 70 GW by diversifying into solar manufacturing partnerships, battery energy storage systems (BESS), and digital energy management services.

The financial base supporting these long-term targets was reflected in the company’s full-year results for fiscal year 2026. Suzlon delivered a strong performance, with total wind turbine generator deliveries increasing 58% year-over-year to 2,456 MW – its highest-ever annual deployment performance in India.

Annual revenue grew 54% to ₹16,679 crore, while operating earnings (EBITDA) increased 63% to ₹3,022 crore. Full-year net profit increased 53% to ₹3,163 crore. The firm ended the fiscal year with a completely debt-free balance sheet and a strong cash position of ₹2,384 crore, providing it with the financial flexibility to fund its expansion without the burden of interest.

Despite strong momentum for the full year, UBS reported that Suzlon’s fourth-quarter performance was mixed, with revenue and EBITDA falling short of initial estimates. For the final quarter of FY26, operating revenue grew 44.9% year-on-year to ₹5,468 crore, 16% below the brokerage’s estimate. Quarterly net profit declined 5.7% to ₹1,114 crore, compared to ₹1,181 crore in the same period last year.

Analysts cited execution discipline as a key risk to monitor going forward. The wind energy sector across India is facing significant headwinds, including delays in grid evacuation infrastructure and right-of-way approvals. To address these project execution delays, Suzlon is increasing the share of EPC contracts in its 5.9 GW order book to provide tighter control over delivery timelines.