- Suzlon share price is down by 23% in 2026 but the downtrend goes back to September 2024
- The company's earnings figures indicate stability but the company is struggling with execution of its large orderbook
- Key limitations revolve around land acquisition and right of way, which has dragged installation and plugging in
Suzlon Energy stock has faced a steep downtrend in 2026, losing about 23% year-to-date and trading near its lowest levels since October 2020 at around ₹39.13 as of this writing. The stock has remained under severe selling pressure, closing lower in eight of the past nine months and trading below key moving averages.
Why Suzlon Stock Is Failing
The issues seem to be both operational and tied to the market. There have been commissioning delays because of problems with land acquisition and getting connected to the grid.
There is a growing disconnect between delivering a turbine and commissioning a project. Land acquisition hurdles and grid connectivity delays mean that even though Suzlon is shipping hardware at record speeds, the final plugging in is lagging.
Also, even though Suzlon is shipping turbines fast, actually getting them up and running is taking longer. It is good to recall, the slump didn’t start in 2026 as shares have been falling since September 2024, after hitting a high of around ₹85.
In the last quarter of 2025, Suzlon Energy’s net profit rose almost 15% to ₹445.2 crore, with revenue up over 42% to ₹4,228.1 crore. Also EBITDA increased almost 50%, with margins up to 17.3%. Those are not the numbers of a deteriorating business.
Is the Current Price a Fair Reflection of Value?
This is where the consensus view deserves a firm challenge. The market has priced Suzlon as if its growth is in serious trouble. Some investors are concerned that Suzlon might be taking on too much with its expansion plans. But the numbers tell a different story.
As of January 2026, Suzlon’s order book was about 6.4GW, which should keep them busy for over two years. With orders at 4.1 times the amount of wind turbines delivered in fiscal year 2025, demand seems strong.
Major brokerages like ICICI Securities and Motilal Oswal are still positive, with targets as high as ₹65–₹74. They argue that the current price, with a P/E ratio of around 17x, is a good value for a leader in a country aiming for 500 GW of renewable energy by 2030.
Suzlon Share Price Forecast
Suzlon share price has its RSI near 21, signaling not only control by the sellers but also oversold conditions. The pivot is at ₹40.95 and immediate support around ₹39.10. If it falls below this, it could drop to ₹38.45. The resistance band is at ₹42.00–₹43.15. Above that, ₹50 is the key level needed to signal a real change in the trend.
Suzlon Energy share price on the daily chart with key support and resistance levels on March 4, 2026. Created on TradingView
The main reason is execution risks, especially the delay between delivering turbines and starting projects due to land and grid issues. Also, investor concern has grown because of changes in management and increased competition in the solar business.
Getting orders and actually putting them into action are two different things. The market has seen Suzlon’s orders grow before without real progress on the ground. The order book is just potential until they show they can deliver.
Suzlon is somewhere between fairly priced and modestly undervalued on a growth-adjusted basis, given the 6.4GW order book, 40%+ return on equity, and ICICI Securities’ ₹65 target implying 53% upside.