Suzlon Shares Slip 4% After Q1 Results and CFO Resignation

Suzlon Energy’s stock fell as much as 4% in early trade on Wednesday following the release of its June quarter results and news of Chief Financial Officer (CFO) Himanshu Mody stepping down. At 10:18 am on August 13, the shares were trading 3% lower at Rs.61.19 apiece, hitting an intraday low of Rs.60.32 on the NSE.

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Strong Q1 Financial Performance

Despite the share price dip, Suzlon reported a 7.3% year-on-year rise in consolidated net profit, reaching Rs.324.32 crore in Q1 FY25 compared to Rs.302.29 crore last year. Total revenue from operations jumped 55% to Rs.3,132 crore from Rs.2,021 crore a year ago. EBITDA surged 62.4% to Rs.598.2 crore, with margins improving to 19.1% from 18.2%.

Brokerage Reactions to Results

Global brokerage Nuvama noted that the performance, driven by execution of 444 MW, was slightly below expectations. Revenue came in 6% lower than estimates due to softer realisations from a reduced EPC mix. Nuvama lowered its target price from ₹68 to ₹67. On the other hand, Investec maintained its ‘buy’ rating with a target price of ₹70, highlighting Suzlon’s record-high order book, strong execution, net cash position, and healthy return ratios.

CFO Exit and New Appointment

Suzlon confirmed that CFO Himanshu Mody will step down on August 31, 2025. The company added that his replacement is in the final stages of selection.

Sammaan Capital Gains

Meanwhile, Sammaan Capital shares have risen nearly 7% over the past two sessions after reports by CNBC-TV18 suggested that Mody will take up a leadership role at the housing finance firm.

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