Suzlon Energy, YES Bank, Waaree Energies, Tata Power, Vedanta share biz updates 2025: As the 20th Nuvama India Conference 2025 unfolds, several prominent companies, including Suzlon Energy, YES Bank, Waaree Energies, Tata Power, and Vedanta, provided insights into their business performance, industry assessments, and emerging market trends. These updates give us a closer look at the companies’ current strategies and expectations for the future.
Key Updates
|
Company |
Key Highlights |
|
Suzlon Energy |
Ramp-up to 447MW in Q3FY25, order book at 5.5GW, market share of 30%+ |
|
YES Bank |
Margin expansion expected from FY26, lower credit costs, target recoveries of Rs 5,000 crore for FY25 |
|
Waaree Energies |
Module & cell capacity expansion to 21GW/11GW by FY27, entry into electrolyser and battery manufacturing |
|
Tata Power |
Profit growth of 9% YoY in Q3, increased solar module & cell manufacturing, RE transition plan in place |
|
Vedanta |
Alumina cost to decline, higher captive alumina contribution from Q1FY26, debt management improving |
Suzlon Energy Growth Prospects
Suzlon Energy has significantly ramped up its execution to 447 MW in Q3FY25. The company’s growth is further supported by a 4.5GW capacity and a strong EBITDA margin of 16.8%. The company reported a robust order book of 5.5GW, which is expected to be executable within 24 months. Suzlon maintains a dominant market share of over 30%, benefiting from the duopolistic nature of the market and its strong EPC capabilities. The company continues to deliver on its growth strategy, and Nuvama has retained its ‘Buy’ rating for Suzlon Energy, with a target price of Rs 60, based on a 35 times FY27 EPS valuation.
YES Bank Margin Expansion Plans
YES Bank’s management is optimistic about its future performance, particularly regarding margin expansion from FY26 onwards. The private lender anticipates an increase in Net Interest Margins (NIM) due to retail asset growth and better yields. The bank’s credit cost is expected to remain below 50 basis points for FY25, improving from the current rate of 20 bps. YES Bank has significantly reduced its RIDF deposits to 8% of total assets, from around 10.5–11% in previous quarters. The bank is also on track to meet its recovery target of Rs 5,000 crore for FY25. The stock is currently trading at 1.2 times FY26E consensus book value.
Waaree Energies Expansion and New Ventures
Waaree Energies has made significant progress in its expansion plans. The company intends to increase its module and cell capacity to 21GW and 11GW by FY27. Notably, Waaree has also commissioned a 1.6GW module capacity in the United States and holds an impressive 26.5GW order book as of 9MFY25. Furthermore, Waaree is entering new markets, including manufacturing electrolysers for green hydrogen and exploring battery manufacturing. The company has been awarded a Production Linked Incentive (PLI) for a 300MW electrolyser manufacturing facility. Waaree’s ongoing expansion and foray into new segments position it well for the future. The stock is currently trading at 20x/12x FY26E/27E consensus EPS.
Tata Power Solar Manufacturing and Renewables Transition
Tata Power’s Q3FY25 profit saw a year-on-year increase of 9%. However, this growth includes one-off regulatory income at Mundra, which inflated the profit figures. Tata Power’s focus on solar module and cell manufacturing has ramped up, particularly for captive solar plants. The company remains optimistic about its renewable energy (RE) transition, with the expectation that 65% of its mix will be renewable by FY28. The company has also set a target to achieve 50% external sales from solar manufacturing by FY27. However, due to the back-ended nature of its growth, Tata Power is currently rated with a ‘Reduce’ outlook, with a target price of Rs 343, reflecting a 2.5x FY27 Book Value.
Vedanta Alumina Cost and Future Growth Outlook
Vedanta’s management highlighted the positive impact of declining alumina prices on its business. The company expects to see the benefits of lower alumina costs and higher contributions from its captive alumina operations starting from Q1FY26. Vedanta has successfully managed its debt, with an average interest rate of less than 10% for H2FY26E, a significant reduction from the previous 13.3%. Additionally, the company is planning a demerger of its business by July 2025. Analysts remain positive on Vedanta, citing its high dividend payout of Rs 35 for FY26, cost reduction measures, and potential growth in aluminium and zinc production. Nuvama has maintained a ‘Buy’ rating on the stock, with a target price of Rs 663.
Summary of Key Insights
- Suzlon Energy: Strong growth in wind energy execution, with a substantial order book and strong market position.
- YES Bank: Expects margin expansion and improved credit quality from FY26, along with lower cost of deposits.
- Waaree Energies: Expanding capacity in modules and cells, diversifying into electrolyser and battery manufacturing, and enhancing its order book.
- Tata Power: Accelerating solar manufacturing and transitioning towards renewable energy with long-term growth targets.
- Vedanta: Positive outlook due to lower alumina prices, improved debt management, and planned business demerger by mid-2025.
Conclusion
As the Nuvama India Conference 2025 continues, these key updates from Suzlon Energy, YES Bank, Waaree Energies, Tata Power, and Vedanta provide valuable insights into their future prospects. The companies are focused on strategic expansions, cost optimization, and new market entries, positioning themselves for long-term growth and shareholder returns. Investors and stakeholders can look forward to continued performance improvements in the coming quarters.