Suzlon Energy Q2 Results: Profit plunges 69% YoY to Rs 394 crore; revenue rises 26%

Suzlon Energy on Thursday reported a 69% year-on-year decline in consolidated net profit to Rs 394 crore for the September quarter, compared with Rs 1,279 crore in the corresponding period last year, even as revenue increased 26% on record wind turbine deliveries.

The sharp decline in reported profit was largely due to a high base in the year-ago quarter, when the renewable energy company recognised a one-time deferred tax asset benefit of Rs 891 crore.

Excluding this benefit, the company's comparable profit after tax increased 1.3% from Rs 389 crore in the September quarter of FY26. Revenue from operations rose to Rs 4,869 crore from Rs 3,866 crore a year earlier, driven by higher wind turbine deliveries and improved project execution.


On a sequential basis, net profit increased 29% from Rs 305 crore in the June quarter, while revenue grew 27% from Rs 3,819 crore.

Suzlon's EBITDA stood at Rs 720 crore, broadly unchanged from Rs 721 crore a year earlier. However, it increased 21% sequentially from Rs 595 crore. The EBITDA margin contracted to 14.8% from 18.6% in the corresponding quarter last year and 15.6% in the preceding quarter.

Suzlon reported its highest-ever second-quarter wind turbine deliveries in India at 710 megawatts (MW), up 26% from 565 MW a year earlier and 40% from 506 MW in the June quarter. Wind turbine commissioning jumped 196% year-on-year to 454 MW. Sequentially, commissioning increased 69% from 269 MW.

For the first half of FY27, total deliveries reached 1,217 MW, compared with 1,009 MW in the corresponding period last year. The company also commissioned 723 MW of wind capacity during the six-month period, compared with 270 MW a year earlier.

"Our record Q2 deliveries of 710 MW and strong commissioning of 454 MW reflect stronger execution and are driving revenue growth," said Ajay Kapur, CEO of Suzlon Group.

The company's renewable energy solutions business reported revenue of Rs 4,212 crore, up 30% from Rs 3,241 crore in the year-ago period. However, segment profit declined to Rs 371 crore from Rs 478 crore, indicating pressure on profitability despite higher business volumes.

Suzlon's renewable energy asset management services business reported revenue of Rs 640 crore, compared with Rs 575 crore a year earlier. Segment profit increased to Rs 220 crore from Rs 145 crore.

The company's order book stood at 6,009 MW at the end of September, compared with 5,697 MW at the end of March 2026. It secured orders exceeding 1.5 GW during the first half of FY27, including more than 1.1 GW of development company-led orders.

Commercial and industrial customers accounted for 64% of the order book, followed by central and state auctions at 22% and public sector undertakings at 14%. Engineering, procurement and construction (EPC) projects contributed 38% of the order book, reflecting the company's increasing focus on end-to-end wind energy solutions.

Suzlon aims to increase the EPC share to 50% by FY28. The company said its manufacturing capacity stood at 4,500 MW across 15 specialised facilities, including factories in Gujarat, Karnataka and Tamil Nadu. Its cumulative installed wind energy capacity globally has also crossed 22 GW.

Suzlon reported a consolidated net worth of Rs 10,277 crore at the end of September, crossing the Rs 10,000 crore milestone. Its net cash position stood at Rs 2,048 crore, compared with Rs 2,384 crore at the end of March.

Total borrowings stood at Rs 327 crore, while cash, bank balances and investments included in the company's net cash calculation amounted to Rs 2,375 crore.