Suzlon Energy (SUZLON) Q4 24/25 earnings summary

Executive summary

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

• Achieved record FY25 revenue of ₹10,851.32 crore, up 67% year-over-year, and PAT of ₹2,072 crore, a 190% increase.

• Record-breaking order book exceeded 5.6 GW, with the S144 model accounting for over 5 GW of orders.

• 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 consolidated revenue: ₹3,774 crore, up 73% YOY and 27% Q-on-Q; EBITDA: ₹693 crore, up 95% YOY.

• FY25 EBITDA: ₹1,857 crore, up 80% YOY; EBITDA margin improved to 17.1% from 15.8% in FY24.

• PAT before exceptional items for FY25 was ₹2,072 crore, up from ₹714 crore in FY24.

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

• Cash and cash equivalents at year-end were ₹1,112.83 crore (consolidated), up from ₹426.84 crore.

Outlook and guidance

• Confident of achieving 60% growth across all key parameters in FY26 over FY25.

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

• Robust wind bidding pipeline of 39+ GW and clear revenue visibility from record order book.

• CapEx guidance: ₹400-450 crore for FY26; R&D expenditure estimated at ₹225 crore.

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