- Suzlon stock has been on a downward trajectory for the most part in May, reversing part of the 40% gain realised in April
- Profit taking and order execution risk remain two of the key pressure points for the stock
- The company's board will meet on May 25 to ratify its quarterly earnings, and that could be a turning point for the stock
Suzlon Energy stock has experienced a dynamic period over the past few months. After touching a 52-week low of approximately ₹38 in March 2026, it saw a significant rebound, gaining over 40% through April before a gradual pull-back in May. We discuss what sparked that initial dramatic upsurge, why the brakes were suddenly slammed, and what the structural outlook holds for the rest of the year.
The April Surge and May Headwinds
A surge in favorable market conditions sparked Suzlon’s strong performance in April. As summer approached, forecasts showed India’s highest expected power needs climbing sharply. Analysts pointed out that climate behavior reminiscent of El Niño was causing major gaps in supply during nighttime hours, just when solar systems cannot produce energy. This strain began weighing heavily on the country’s main electricity network.
This macro landscape brought wind energy solutions back into sharp focus. This momentum was further amplified by Suzlon securing significant new contracts, including an 838-megawatt (MW) order from Tata Power Renewable Energy, following closely on a massive 1,544 MW contract with NTPC Green Energy.
Suzlon share price declined sharply in mid-May due to profit-taking after recent gains, with high trading volumes indicating institutional liquidation. Technical indicators had already flagged the issue earlier. By April 20, RSI stood at 78.62 and the Money Flow Index at 85.49. These figures indicated the stock was entering overbought conditions, hinting at a potential for a market correction, even though the broader underlying uptrend remained intact.
Outlook for the Rest of 2026
The next major catalyst is right around the corner. Suzlon has officially confirmed that its board will meet on Monday, May 25, 2026, to approve its audited full-year financial results. Analysts forecast Suzlon will post a significant 38% year-on-year increase in consolidated revenue, reaching an estimated ₹52.5 billion for Q4FY26. Meanwhile, EBITDA is forecast to be around ₹10.6 billion. Crucially, the management’s guidance for Fiscal Year 2027 is widely expected to influence the stock’s future trajectory.
Also, while Suzlon began the year with a substantial order book of roughly 6,011 MW, it must now focus on narrowing the execution timeline for these projects. Brokerages like Motilal Oswal expect the company to post turbine deliveries of 900 MW for the March quarter alone, meaning the rest of the year will test whether local supply chains can keep up with this intense dispatch schedule.
The upsurge was primarily fueled by projections of unprecedented summer power demand, inherent structural imbalances within the evening grid, and the successful acquisition of substantial multi-megawatt wind turbine orders.
The reversal occurred after the company clarified there was no new hidden trigger, prompting classic short-term profit booking by traders.
Suzlon possesses a highly robust project backlog of approximately 6,011 megawatts, providing clear revenue visibility for the upcoming fiscal years.
