Suzlon Energy (SUZLON) Q4 25/26 earnings summary

Executive summary

• Achieved record annual and quarterly deliveries in India at 2,456 MW and 830 MW, respectively, driving consolidated revenue to ₹16,679 crore in FY26, up 54% YoY, with EBITDA at ₹3,022 crore (63% YoY growth) and profit after tax at ₹3,163 crore.

• Order book stands at ~5.9 GW, with a growing share of EPC contracts and strong participation from PSU and C&I segments, providing robust revenue visibility.

• Net cash position at ₹2,384 crore as of March 2026, supporting financial flexibility and future growth.

• Significant progress in Andhra Pradesh project, with 2.1 GW development rights and PPA extension for 775 MW.

• Recognized among top global sustainable organizations, with upgraded ESG ratings and multiple industry awards.

Financial highlights

• Q4 FY26 revenue was ₹5,468 crore, with EBITDA at ₹964 crore and EBITDA margin at 17.6%; full-year EBITDA margin improved to 18.1%.

• FY26 net profit stood at ₹3,163 crore, including deferred tax asset recognition of ₹742 crore.

• Net worth increased to ₹9,464 crore as of March 2026.

• SE Forge revenue up 22% YoY to ₹597 crore, EBITDA up 61% YoY to ₹119 crore, with capacity utilization at 33%.

• Earnings per share (EPS) for FY26 was ₹2.31, up from ₹1.51 in FY25.

Outlook and guidance

• Industry installations expected to reach 8 GW in FY27 and 10 GW in FY28, with India's wind capacity projected to reach 160 GW by 2035 and power demand nearly tripling by 2047.

• Management expects continued positive momentum in deliveries and order book, with margins supported by cost management and supply chain optimization.

• The S144 wind turbine platform has become the industry’s dominant product, with ~9 GW cumulative order intake.