Suzlon Energy target price 2026: broker calls Rs 60-67

Stock rebounds from March low

Shares of Suzlon Energy Ltd have been on a strong run after bouncing from their 52-week low. The stock has climbed about 42.75% from Rs 38.17, the low recorded on March 9, 2026, to around the mid-Rs 50 range. In Wednesday’s trade, the stock rose nearly 2.65% to Rs 54.49. The company’s market capitalisation was nearing the Rs 75,000 crore mark in the same session.

Even after the rebound, the stock remains below its 52-week high. Suzlon is still down about 27% from Rs 74.30, the 52-week high seen in May 2025. With a recent push into Europe and multiple brokerage updates, investor focus is now split between business commentary and the next set of quarterly numbers.

Europe launch brings strategy back into focus

Suzlon Group has unveiled two new wind turbine models in Europe: a 5 megawatt (MW) platform and a 6.3 MW platform. The company said the products are aimed at Europe’s repowering and new-build markets. Management’s European push has also sharpened attention on how Suzlon plans to position itself in higher-capacity turbines, where site-specific design and faster execution are critical.

Suzlon flagged that Europe is entering a key repowering phase. Repowering typically involves replacing older turbines with higher-capacity units to improve output from existing wind sites. The company expects this to drive demand for larger, site-optimised machines.

Installed base: India-heavy, but overseas footprint exists

Suzlon’s operating footprint is large for an Indian wind OEM. The company has approximately 21.5 gigawatts (GW) of installed capacity across 17 countries. Of this, around 15.5 GW is located in India and nearly 6 GW is installed overseas.

Europe is a smaller piece of this overseas footprint but is still meaningful. Suzlon has about 660 MW installed in Europe, as per the details shared in the update. The installed base matters because it can create service and replacement opportunities over time, especially in mature markets where repowering is a recurring theme.

Europe opportunity size highlighted by management

Executive Vice Chairman Girish Tanti said Europe has around 100 GW of potential new wind projects and 17 GW of repowering opportunities. These figures frame why Suzlon is highlighting Europe in its near-term narrative, even though its installed base in the region remains relatively modest.

The company’s comments also come against a backdrop of stronger global installations. The global wind industry recorded installations of 165 GW of new capacity last year, a 40% increase from 2024, driven largely by developments in China.

Target prices: Ambit, JM Financial, Systematix

Brokerages tracking Suzlon have issued multiple target prices around the same band. Ambit maintained a ‘buy’ rating with a target price of Rs 60. JM Financial has a ‘buy’ rating with a target price of Rs 64. Systematix Institutional Equities has a ‘buy’ rating with a target price of Rs 67.

Ambit’s note pointed to sustained annual wind turbine generator (WTG) demand of 6-8 GW through FY32, led by RE-RTC and FDRE tenders where wind complements solar. It also cited expectations of installations exceeding 10 GW beyond FY32 and a potential rise in Suzlon’s market share to 40% in FY27, supported by turnkey capabilities and a reduced Chinese OEM price advantage after ALMM.

Ambit also built an EPS CAGR of 15% over FY26-30 and 11% over FY30-35. It added that Suzlon could generate Rs 20,000 crore net cash by FY32, with possible deployment in adjacent areas such as BESS, while noting a preference for solar OEMs over wind.

Q4 FY26 preview: revenue, EBITDA, profit estimates

The next trigger is quarterly earnings for the March 2026 quarter, with the results date yet to be announced. Ahead of that, brokerages have published preview estimates.

JM Financial expects revenue of Rs 5,708.3 crore, up 50.6% year-on-year (YoY) and 34.8% quarter-on-quarter (QoQ). It sees EBITDA at Rs 1,068 crore, up 54% YoY and 44.6% QoQ. Net profit is estimated at Rs 888.7 crore, up 52.8% YoY and 57.5% QoQ.

Systematix expects Q4 FY26 consolidated revenue of Rs 5,250 crore, based on 820 MW of order execution during the quarter, up 43% YoY and 33% QoQ. It expects consolidated EBITDA of around Rs 1,060 crore, up 53% YoY, implying an EBITDA margin of 20.2%.

Order inflows and order book snapshot

Systematix said Suzlon bagged 2,522 MW of orders in FY26, including 100 MW in Q4 FY26. It estimated the current order book at approximately 6,011 MW, net of its estimated supplies for the quarter. For investors, execution pace and order conversion remain the key operational variables to track alongside margins.

Separately, another business metric mentioned in the broader update is EPC mix. Export revenues are expected to ramp up from FY28, with Europe highlighted as a focus market. Suzlon also has a stated strategic focus to expand its EPC business to a 50% share by 2028, compared with an EPC share of 27% in the current quarter referenced.

Key datapoints at a glance

Trading and financial snapshots mentioned

Beyond broker notes, the dataset also flagged some historical trading behaviour and cost structure points. Over the last 20 years, 5.48% of trading sessions saw intraday gains higher than 5%. A weekly MACD crossover was noted for the week ending April 17, 2026, along with an observation that in the last 10 years this signal has been followed by an average price gain of 27.6% within seven weeks.

On fundamentals from consolidated financials for the year ending March 31, 2025, the company spent 2.34% of operating revenues towards interest expenses and 8.65% towards employee costs. It also used Rs 751.74 crore for investing activities, an YoY increase of 396.03%.

What investors will watch next

Near-term attention is likely to remain on two items that are already on the table: the management narrative on Europe and the March 2026 quarter results once the date is announced. Investors will also track whether execution aligns with brokerage assumptions on quarterly order delivery and whether margins stay near the levels implied by the Q4 previews.

For the Europe strategy, readers will likely look for additional clarity on customer traction for the 5 MW and 6.3 MW platforms, and how the company plans to address both repowering and new-build demand in the region.

Conclusion

Suzlon Energy’s sharp rebound from its March 2026 low has put the stock back in focus, just as the company showcased new turbine models for Europe. Brokerages have reiterated ‘buy’ ratings with target prices clustered between Rs 60 and Rs 67, while Q4 FY26 previews point to strong YoY growth in revenue, EBITDA, and profit. The next clear milestone is the company’s March 2026 quarter earnings announcement, which should also bring updated commentary on Europe and order execution.