Synergy Green ends sharply higher after bagging orders worth Rs 163 crore from Vestas Wind Systems

Synergy Green Industries surges 8.39% to end at Rs 436.10 after the company said that it has bagged orders worth Rs 163.74 crore from Vestas Wind Systems, which will be executed during FY 2025-26.

These orders are for both 2 MW & 4 MW parts, split equally between domestic and export requirements.

The value of the aforementioned order is nearly 0.27 times the full market capitalization of Synergy Green, which as of today's close stood at Rs 616.21 crore.

Vestas Wind System is one of the largest Wind OEM in the world and contributed over one-third of Synergy Greens order book for almost a decade now.

Synergy Green Industries is engaged in the manufacturing of large size critical castings for wind turbine parts. It has facilities located at Kolhapur (Maharashtra) and has established itself as a reliable supplier to all major global wind OEMs.

The company had reported 18.47% rise in net profit to Rs 2.95 crore despite a 6.05% fall in sales to Rs 78.76 crore in Q1 FY25 over Q1 FY24.

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