Suzlon Energy Limited (SUZLON) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Suzlon Energy Limited stock ₹32.96, price ₹38.80, that is 15.1% below the price, quality 59 out of 100. Rating: overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range ₹5.80 – ₹84.70 · fair‑value band ₹23.54 – ₹53.93 · the ₹38.80 price screens above the ₹32.96 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. As of Nov 6, 2026.
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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.
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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.
Stock analysis
Suzlon Energy Limited (SUZLON) currently trades at ₹38.80, while our model-based Fair Value estimate is ₹32.96, 15% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹40.54 per share, and 4 of the 24 models we run sit above the ₹38.80 price.
Bear case: the Growth DCF group reads lowest at ₹16.65, and 20 of the 24 models stay below the price. Data coverage for this calculation is low.
Scenario range: ₹23.54 (bear) to ₹53.93 (bull), the price of ₹38.80 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 59/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
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.
Key figures
Market cap ₹534B (≈ $5.7B) Mid · P/E ratio 25.7 · P/S ratio 2.90 · EPS (TTM) ₹1.51 · Net margin 12.3% · Return on equity 24.9% · Return on assets (EBIT) 18.9% (5-year average) · Operating margin 13.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 69 out of 100 (low confidence).
What moves the price
The share trades about 35% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −46% fair-value upside, at −15%, SUZLON screens cheaper than that median.
Fair Value models
Bear₹23.54Fair Value ₹32.96Bull₹53.93
Price ₹38.80 · Downside -15.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹0.9184 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
FCF DCF₹7.89₹12.25₹18.5880
Growth DCF₹7.81₹11.71₹17.0578
Owner Earnings₹11.77₹18.40₹27.9976
All 24 models by family
DCF Models
FCF DCF₹7.89₹12.25₹18.5880
Owner Earnings₹11.77₹18.40₹27.9976
5Y Revenue Exit₹12.33₹21.88₹34.7771
5Y EBITDA Exit₹15.28₹27.78₹43.3073
5Y P/E Exit₹23.29₹43.84₹67.0569
10Y Revenue Exit₹9.99₹17.81₹29.5665
10Y EBITDA Exit₹12.14₹21.63₹35.8066
10Y P/E Exit₹16.87₹32.04₹53.1962
Earnings-Based
Graham-Dodd₹15.65₹65.84₹89.8364
Lynch FV₹16.72₹23.89₹31.0561
PEG = 1.0₹16.72₹23.89₹31.0557
EPV₹14.35₹16.19₹17.7274
Multiples
P/E Multiple₹36.25₹48.33₹60.4163
P/S Multiple₹18.20₹24.27₹30.3358
P/B Multiple₹20.96₹27.95₹34.9455
EV/EBIT₹25.50₹33.99₹42.4766
EV/EBITDA₹21.77₹29.01₹36.2567
EV/Revenue₹15.34₹21.90₹28.4553
Asset-Based
NCAV (Graham)₹1.97₹2.98₹3.7255
Growth DCF
Growth DCF₹7.81₹11.71₹17.0578
Rev-Margin DCF₹12.33₹21.59₹33.1671
Economic Profit
Residual Income₹11.49₹15.41₹27.6867
ROIC Compounder₹15.63₹19.28₹23.4572
Growth Earnings
Growth-Adj P/E₹28.38₹40.54₹52.7167
The fair value above starts from this blend and is adjusted for a year distorted by one-off effects.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+53.7%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+41.8%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+38.3%
Start year 2021 (pandemic). Over 10 years: +5.9% a year
Revenue growth 21 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+10.8%
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What shareholders gained per year (last 5 years), in INR (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+87.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+87.7%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.94.1% vs 15.6%, picking up
Profit margin 2005 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.23% → 17%
2026 sits 53% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2021 (pandemic)
⚠ Revenue per share shrinking 6.8%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+42.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+17.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +36.7% a year for the price and +12.7% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (11 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.
AI conclusion: Large wind orders build a multi-gigawatt backlog offering long delivery visibility, yet earnings remain lumpy due to seasonal patterns, project mix shifts and margin pressures from investments and logistics.
Main risk: Adani, JSW and Chinese manufacturers such as Envision could capture larger shares of India's wind turbine orders or force lower prices through their scale and own demand, squeezing Suzlon's margins and execution volumes.
Bull case: Suzlon could expand its DevCo model and integrated wind-solar-BESS offerings to lock in customers and offset pure-turbine competition while using AI manufacturing to cut costs.
Bear case: Intensifying competition from Adani, JSW and Chinese players combined with DSM penalties could flatten Suzlon's annual deliveries and compress margins as developers shift to hybrids.
Suzlon keeps adding large wind orders that swell its multi-gigawatt backlog and give long visibility into future deliveries. At the same time, earnings stay lumpy because of seasonal patterns, shifting project mixes, and margin pressure from investments and logistics. Our models currently see the shares as overvalued. Will the backlog drive steadier growth, or will execution and cyclical swings keep results volatile?
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Specialty Industrial Machinery · 814 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score59 · Above median
Fair Value upside−15.1% · Above median
Profitability
Return on equity (12 months)24.9% · Top 25%
Return on assets16.8% · Top 25%
Net margin (12 months)12.3% · Top 25%
Operating margin (12 months)13.3% · Above median
Growth and dividend
Revenue growth (quarter YoY)27.0% · Top 25%
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Suzlon Energy Limited Fair Value". https://www.fairvalue-calculator.com/stock/SUZLON
Frequently asked questions
Is Suzlon Energy Limited (SUZLON) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of ₹32.96 versus a price of ₹38.80, about 15% lower (overvalued).
What is the fair value of SUZLON?
Our model-based fair value for Suzlon Energy Limited is ₹32.96 (as of Nov 6, 2026), built from audited fundamentals. The current price: ₹38.80.
What is the quality score of SUZLON?
Suzlon Energy Limited has a Quality Score of 59/100. 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 price target for Suzlon Energy Limited (SUZLON)?
Our model-based price target is the fair value of ₹32.96 (as of Nov 6, 2026) from 24 valuation models. Cautious scenario ₹23.54, optimistic scenario ₹53.93. It is a calculation from audited fundamentals, not an analyst target.
What is the Suzlon Energy Limited stock forecast for 2026?
Our models put fair value at ₹32.96, about 15% lower versus a price of ₹38.80 (overvalued). Cautious scenario ₹23.54, optimistic scenario ₹53.93. The calculation is refreshed regularly with new filings.
What is the revenue of Suzlon Energy Limited (SUZLON)?
Suzlon Energy Limited reported trailing-twelve-month revenue of about ₹184B (latest available figure, as of Nov 6, 2026).
What growth is priced into Suzlon Energy Limited (SUZLON)?
For today's price to be fair in a discounted-cash-flow model, Suzlon Energy Limited would have to grow free cash flow by +42.4 % per year for five years (discount rate 11.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +38.3 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of SUZLON use?
Our models discount Suzlon Energy Limited at 11.4 %: a base by market capitalisation (mid), damped by beta 0.68, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Suzlon Energy Limited that is +42.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.4 %) and the same formula as our fair value.
How much growth has Suzlon Energy Limited (SUZLON) delivered so far?
Over the past 5 years revenue at Suzlon Energy Limited grew +38.3 % a year. The price currently implies free-cash-flow growth of +42.4 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Suzlon Energy Limited (SUZLON) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Suzlon Energy Limited (+42.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Suzlon Energy Limited (SUZLON)?
The free-cash-flow yield on the price is 1.17 %: that much free cash flow Suzlon Energy Limited produces per unit of market value. When it exceeds the discount rate of our models (11.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Suzlon Energy Limited (SUZLON)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Suzlon Energy Limited it is ₹32.96 per share (as of Nov 6, 2026), against a price of ₹38.80. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Suzlon Energy Limited stock overvalued or undervalued in 2026?
As of Nov 6, 2026, SUZLON trades above its calculated fair value: price ₹38.80, fair value ₹32.96, a gap of about −15% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SUZLON?
No. The price is what the market pays today (₹38.80); the fair value is what the company's own numbers justify (₹32.96). For Suzlon Energy Limited the two are ₹5.84 per share apart. That gap is exactly why we show both numbers side by side.
How much is Suzlon Energy Limited worth?
The market values Suzlon Energy Limited at about ₹534B (market capitalisation, as of Nov 6, 2026). Per share that is ₹38.80; our models calculate a fair value of ₹32.96 per share.
What do the bullish and bearish scenarios say about SUZLON?
Our models span a range for Suzlon Energy Limited: cautious scenario ₹23.54, base ₹32.96, optimistic ₹53.93 per share (as of Nov 6, 2026, price ₹38.80). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SUZLON?
Suzlon Energy Limited trades at a price-to-earnings ratio of 25.7 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹32.96 is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2017 to 2026), reported earnings, FY2026 ex one-offs: 32.8. Other multiples: PEG 0.4, P/B 5.6, P/S 2.9, EV/EBITDA 17.6.
What is the PEG ratio of SUZLON?
The PEG ratio of Suzlon Energy Limited is 0.35 (P/E divided by earnings growth, as of Nov 6, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Suzlon Energy Limited (SUZLON)?
Balance-sheet figures for Suzlon Energy Limited (as of Nov 6, 2026): return on equity 24.9%, debt of 0.01 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is SUZLON from its 52-week high?
Suzlon Energy Limited trades at ₹38.80, about 35% below its 52-week high of ₹59.61 and 14% above the low of ₹33.90 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ₹32.96 is for.
Which stocks are comparable to Suzlon Energy Limited?
From the same area (Industrials) we also value SIE, GE Vernova Inc, Eaton Corporation, Parker-Hannifin Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Suzlon Energy Limited stock attractive at the current price?
The data as of Nov 6, 2026: price ₹38.80, calculated fair value ₹32.96 (−15%), Quality Score 59/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of SUZLON calculated?
We run Suzlon Energy Limited through 24 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ₹32.96 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Suzlon Energy Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Suzlon Energy Limited (SUZLON)?
The closing price on Nov 6, 2026 was ₹38.80. Our model-based fair value is ₹32.96, about 15% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Suzlon Energy Limited right now?
Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (₹23.54 to ₹53.93) 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.
Key figures of Suzlon Energy Limited
How large is the market capitalisation of Suzlon Energy Limited (SUZLON)?
The market capitalisation of Suzlon Energy Limited is ₹534B (≈ $5.7B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Suzlon Energy Limited (SUZLON)?
The price-to-sales ratio of Suzlon Energy Limited is 2.90 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Suzlon Energy Limited (SUZLON)?
Earnings per share at Suzlon Energy Limited are ₹1.51 (price ÷ EPS = P/E 25.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Suzlon Energy Limited (SUZLON)?
The net margin of Suzlon Energy Limited is 12.3% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Suzlon Energy Limited (SUZLON)?
The return on equity (ROE) of Suzlon Energy Limited is 24.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Suzlon Energy Limited (SUZLON)?
On an EBIT basis the return on assets of Suzlon Energy Limited is 18.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Suzlon Energy Limited (SUZLON)?
The operating margin of Suzlon Energy Limited is 13.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Suzlon Energy Limited (SUZLON)?
Revenue at Suzlon Energy Limited is growing +27.0% versus a year earlier (3y avg +41.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Suzlon Energy Limited (SUZLON)?
Earnings per share at Suzlon Energy Limited are growing −68.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Suzlon Energy Limited (SUZLON) hold?
Suzlon Energy Limited holds more cash than debt, ₹752M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 6, 2026