Suzlon Energy (SUZLON) Q4 24/25 earnings summary

Executive summary

• Celebrated 30th anniversary, highlighting resilience, innovation, and strong stakeholder support.

• Achieved record consolidated revenue of ₹10,851.32 crore in FY25, up 67% YoY, with record-breaking order book exceeding 5.6 GW, led by the S144 model.

• Delivered 1,550 MW in FY25, more than double the previous year, with Q4 deliveries at 573 MW.

• Net cash position improved to ₹1,943 crore as of March 2025, up ₹836 crore from Q3.

• CRISIL upgraded credit rating to A/Positive, the second upgrade in FY25.

Financial highlights

• Q4 FY25 revenue: ₹3,774 crore, up 73% YoY and 27% QoQ; Q4 EBITDA: ₹693 crore, up 95% YoY; EBITDA margin improved to 18.4%.

• FY25 revenue: ₹10,851 crore, up 67% YoY; EBITDA: ₹1,857 crore, up 80% YoY; PAT: ₹2,072 crore, up 190% YoY.

• Net worth as of March 2025: ₹6,106 crore; total assets at ₹12,960 crore.

• Earnings per share (EPS) for FY25: ₹1.52 (basic, consolidated), up from ₹0.50 in FY24.

• Net cash from operating activities at ₹1,983.72 crore (consolidated).

Outlook and guidance

• Confident of achieving 60% growth across all key parameters in FY26, including deliveries, revenue, EBITDA, and normalized PAT.

• Strong wind sector upcycle expected, with India targeting 2,100 GW power capacity by 2047, including 400 GW from wind.

• Order inflow momentum expected to accelerate, with strong visibility for at least 18-24 months.

• WTG division contribution margin expected to be maintained at 23% in FY26.

• Deferred tax assets of ₹638.05 crore recognized based on future profitability expectations.