Inox Wind vs Suzlon Energy: Which Stock Should You Track

Inox Wind MCap Rs 13,575 Cr, PE 30.21x, ROE 6.35%, D/E 0.25. Suzlon Energy MCap Rs 65,577 Cr, PE 20.82x, ROE 33.43%, D/E 0.06.

Inox Wind vs Suzlon Energy is a comparison wind energy investors look up when evaluating two listed Indian wind turbine companies. Inox Wind is a part of the Inox Group, manufacturing and supplying wind turbine generators primarily for onshore projects in India, while Suzlon Energy is India’s largest wind energy solutions company, with a vertically integrated business covering turbine manufacturing, project commissioning, and operations and maintenance (O&M) of its installed base.

This Inox Wind vs Suzlon Energy article covers reach and market position, key products, latest declared results and stock valuation. The Inox Wind vs Suzlon Energy data below is sourced from Groww and public company filings and reflects the most recently available information at the time of writing.

Inox Wind vs Suzlon Energy: Reach and Market Position

On the Inox Wind side of the Inox Wind vs Suzlon Energy comparison, Inox Wind manufactures wind turbine components and assembles WTGs for project developers and IPPs. It primarily serves the Indian wind energy market. Market capitalisation is Rs 13,575 Cr.

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On the Suzlon Energy side of the Inox Wind vs Suzlon Energy comparison, Suzlon Energy has a vertically integrated wind business — blades, nacelles, towers, project development and O&M — with the largest installed O&M base in India at over 20,000 MW. Market capitalisation is Rs 65,577 Cr.

Inox Wind vs Suzlon Energy: Key Products and Business Mix

In the Inox Wind vs Suzlon Energy product comparison, Inox Wind offers: Inox Wind earns from turbine supply contracts and has a growing order book. EPS is Rs 2.60. P/E is 30.21x, ROE 6.35 percent, D/E 0.25.

For Suzlon Energy in this Inox Wind vs Suzlon Energy breakdown: Suzlon earns from turbine supply, project services and O&M contracts. EPS is Rs 2.31. P/E is 20.82x, ROE 33.43 percent, D/E 0.06. Zero dividend.

Inox Wind vs Suzlon Energy: Latest Results

The Inox Wind vs Suzlon Energy results for Inox Wind: Inox Wind has a market cap of Rs 13,575 Cr and P/E of 30.21x. ROE is 6.35 percent — low due to the wind equipment supply cycle and project commissioning pace. D/E is 0.25.

The Inox Wind vs Suzlon Energy results for Suzlon Energy: Suzlon Energy has a market cap of Rs 65,577 Cr and P/E of 20.82x. ROE is 33.43 percent — exceptional, reflecting Suzlon’s recovery from near-bankruptcy, debt elimination and high-margin O&M income. D/E of 0.06 is near-zero. Suzlon is 4.8 times larger than Inox Wind by market cap.

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Inox Wind vs Suzlon Energy: Stock and Valuation

The Inox Wind vs Suzlon Energy stock comparison uses the latest available market data from Groww. Investors tracking Inox Wind vs Suzlon Energy should verify current prices on NSE or BSE before trading.

Inox Wind vs Suzlon Energy at current valuations: Inox Wind trades at Rs 13,575 Cr market cap, P/E 30.21x, ROE 6.35 percent, D/E 0.25. Suzlon trades at Rs 65,577 Cr market cap, P/E 20.82x, ROE 33.43 percent, D/E 0.06. Suzlon is far larger, cheaper on P/E, has a much higher ROE and near-zero debt — reflecting the remarkable turnaround of this company.

Inox Wind vs Suzlon Energy: Quick Comparison Table

The Inox Wind vs Suzlon Energy comparison table below summarises the key metrics covered in this article side by side.

Conclusion

The Inox Wind vs Suzlon Energy comparison above covers the key data points on reach, products, results and valuation. Inox Wind vs Suzlon Energy covers two very different wind energy companies at different maturity points. Suzlon is a recovered and profitable wind major with a large O&M income base providing annuity-like revenue. Inox Wind is a growing turbine manufacturer with lower ROE and a smaller order book. Both benefit from India’s wind energy targets under the National Energy Transition framework. Investors should review order book backlog, commissioning pace and O&M income proportion before taking a view. Consult a SEBI-registered advisor for personalised guidance.

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Frequently Asked Questions

What does Inox Wind do?

Ans. Inox Wind manufactures wind turbine generators (WTGs) and supplies them to project developers and independent power producers for onshore wind projects in India. It is expanding its order book under India’s wind capacity addition targets.

What does Suzlon Energy do?

Ans. Suzlon Energy is a vertically integrated wind energy company manufacturing blades, nacelles and towers, developing wind projects, and maintaining over 20,000 MW of installed wind capacity under its O&M business — which provides steady recurring income.

Has Suzlon Energy recovered from its debt crisis?

Ans. Yes. Suzlon Energy underwent significant debt restructuring and emerged from near-bankruptcy around 2020 to 2022. It has since reduced debt to near-zero and has rebuilt its manufacturing and order book.

Why does Suzlon have such a high ROE?

Ans. Suzlon’s ROE of 33.43 percent reflects its high-margin O&M business, which generates annuity income with low capital requirements, combined with its recovered balance sheet with near-zero debt.

Does Inox Wind pay dividends?

Ans. No. Inox Wind does not currently pay dividends.

Is India’s wind energy sector growing?

Ans. India has ambitious renewable energy targets including significant wind capacity additions under the National RE Mission. Both Inox Wind and Suzlon benefit from this policy-driven demand.

Are Inox Wind and Suzlon in Nifty 50?

Ans. Neither is in Nifty 50. Suzlon is tracked in Nifty 200 and Nifty Energy. Inox Wind is in smaller indices.