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Suzlon Energy Results: Latest Quarterly Results & Analysis

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Suzlon Energy Ltd. 12 Aug 2025 15:53 PM
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Q1FY26 Quarterly Result Announced for Suzlon Energy Ltd.

Heavy Electrical Equipment company Suzlon Energy announced Q1FY26 results

  • Revenue from operations: Rs 3,117 crore compared to Rs 2,016 crore during Q1FY25.
  • EBITDA: Rs 599 crore compared to Rs 370 crore during Q1FY25.
  • EBITDA Margin: 19.2% for Q1FY26.
  • PBT: Rs 459 crore compared to Rs 302 crore during Q1FY25.
  • PAT: Rs 324 crore compared to Rs 302 crore during Q1FY25.

Girish Tanti, Vice Chairman, Suzlon Group, said: “The energy sector is undergoing a structural shift where wind-dominant FDRE and RTC solutions are essential for delivering firm, reliable, and affordable clean power to India. The rising demand from C&I and PSU customers, along with a strong base of repeat orders, reflects the trust in Suzlon’s technology leadership and execution capabilities. India, achieving 50% non-fossil fuel capacity well ahead of its target, is reshaping the manufacturing ecosystem. With our integrated domestic value chain, Suzlon is best positioned to leverage this momentum and drive India’s clean energy economy forward.”

JP Chalasani, Chief Executive Officer, Suzlon Group, said: “India’s renewable energy growth is driven by large PSU-led auctions signalling strong market momentum and rising C&I demand. Businesses are seeking firm, reliable, and affordable clean power to meet sustainability goals. Our record deliveries this quarter highlight Suzlon’s executional strength and ability to seize opportunities. These align perfectly with MNRE’s revised ALMM (Wind) guidelines — a roadmap to make India’s energy transition Made in India, for India, and by India. With 4.5 GW of annual domestic manufacturing capacity, we are well-positioned to power the nation’s clean energy future.”

Himanshu Mody, Chief Financial Officer, Suzlon Group, said: "Q1 delivered a strong all-round performance, with year-on-year growth across all key financial and operational metrics. The significant increase in EBITDA reflects our disciplined financial management, operational efficiency, and the underlying strength of our business model. The Company recognised Deferred Tax Assets of Rs 630 crore last quarter, which is now unwinding, resulting in a deferred tax charge of Rs 134 crore in Q1 FY26. This is purely an accounting adjustment with no cash impact. Our strong order inflow provides clear revenue visibility, while five-notch rating upgrades over the last two years reflect our improved financial strength and flexibility, unlocking new working capital avenues."

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Heavy Electrical Equipment company Suzlon Energy announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Net Volumes increased by 110%, from 273 MW to 573 MW.
  • Net Revenue rose by 73.2%, from Rs 2,179 crore to Rs 3,774 crore.
  • EBITDA jumped by 94.1%, from Rs 357 crore to Rs 693 crore.
  • EBITDA Margin improved by 200 bps, from 16.4% to 18.4%.
  • Profit Before Exceptional Items and Tax rose by 96.8%, from Rs 280 crore to Rs 551 crore.
  • Profit After Tax (PAT) increased sharply by 365%, from Rs 254 crore to Rs 1,181 crore.

FY25 Financial Highlights:

  • Net Volumes grew by 118.3%, from 710 MW to 1,550 MW.
  • Net Revenue surged by 67.0%, from Rs 6,497 crore to Rs 10,851 crore.
  • EBITDA rose by 80.5%, from Rs 1,029 crore to Rs 1,857 crore.
  • EBITDA Margin improved by 130 bps, from 15.8% to 17.1%.
  • Profit Before Exceptional Items and Tax increased by 102.9%, from Rs 713 crore to Rs 1,447 crore.
  • Profit After Tax (PAT) soared by 214%, from Rs 660 crore to Rs 2,072 crore.

Girish Tanti, Vice Chairman, Suzlon Group, said, "FY25’s performance sets the stage for Suzlon’s next phase of strategic evolution and market leadership. Achieving our highest profitability in a decade, strong cash reserves, and a record order book are the direct outcomes of our disciplined business transformation and sharp operational focus. India has also crossed a significant milestone by surpassing 50 GW of installed wind power capacity – a journey in which Suzlon has played a leading role. As we advance towards the 100 GW target by 2030, India will most certainly shape the global narrative on clean energy leadership and climate action.”

JP Chalasani, Chief Executive Officer, Suzlon Group, said, "This year, we completed Suzlon’s ramp-up phase, which is clearly reflected in the sharp increase in our deliveries. With our highest-ever firm order book of 5.6 GW, we have long-term visibility and the capacity to scale and support future growth. These efforts have built a solid foundation to meet India’s rising need for clean, reliable, and locally made wind energy. Our continued focus on safety, quality, ESG, and customer satisfaction will guide us, as we step into the next phase of India’s energy journey."

Himanshu Mody, Chief Financial Officer, Suzlon Group, said, “This is one of the best years for Suzlon, marked by consistent growth across revenues, profitability, and EBITDA, along with a strong net cash position. These results reflect the strength of our operating model and financial prudence. We are committed to funding our growth ambitions while maintaining strict financial discipline, optimising capital allocation, and strengthening our balance sheet for long-term sustainability.”

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Heavy Electrical Equipment company Suzlon Energy announced Q3FY25 results

  • Record quarterly deliveries of 447 MW, 9 month deliveries to 977 MW.
  • Revenue Growth at 42% (vs. Q2FY25), 94% (vs. Q3FY24).
  • EBITDA hits Rs 500 crore, with PAT at Rs 388 crore.
  • EBITDA Margin at 16.8% and Net Profit Margin at 13.1%, reflecting improved  profitability.
  • Consistent PAT Growth 93% (vs. Q2FY25), 91% (vs. Q3FY24).
  • Manufacturing capacity reached 4.5 GW, with revamped Puducherry and  Daman Nacelle facilities.
  • Highest ever order book at 5.5 GW, C&I and PSU now constitute ~80% of the  total order book.

Girish Tanti, Vice Chairman, Suzlon Group, said: "We are building a future ready business by fortifying our core strategic pillars: cultivating strategic talent, leveraging next generation technology, amplifying customer centricity, and expanding operational capacity. Our sustained focus on these priorities drives consistent growth, performance, and long term profitability. One emerging trend fuelling our growth is our strategic emphasis on Commercial & Industrial (C&I) and Public Sector Undertaking (PSU) customers. As these organisations prioritise sustainability and renewable energy, we're delivering reliable, affordable solutions that power their operations. This strategic shift is driving demand, positioning Suzlon as a trusted partner for businesses pursuing green energy ambitions and catalysing growth in the renewable energy sector." 

JP Chalasani, Chief Executive Officer, Suzlon Group, said: "We are experiencing consistent quarter on quarter growth, with each of our businesses operating as strong, independent entities driving performance. Our manufacturing capacity expansion in India is progressing as planned to fulfill our record high order book of 5.5 GW. With our ramp up strategy on track and operational preparedness at optimal levels, we can sustain momentum, create long term value for our stakeholders, and play a pivotal role in advancing India’s renewable energy ambitions."

Himanshu Mody, Chief Financial Officer, Suzlon Group, said: "Our focus in Q3FY25 was execution, which is visible in our financial performance, marked by significant profit growth driven by volume and margin expansion and enhanced operating leverage. Strong stakeholder support has been instrumental in accelerating our ramp up efforts. With a robust order book, market leading products, ample working capital, and a well established supply chain, we are strategically aligned to seize emerging opportunities and further strengthen our market leadership." 

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Heavy Electrical Equipment company Suzlon Energy announced Q2FY25 results

  • Robust deliveries at 256 MW in line with market expectations.
  • Considerable increase in revenues at Rs 2,093 crore.
  • Consistent YoY growth in EBITDA at Rs 294 crore
  • EBITDA Margin at 14.1%, Net Margin at 9.6%.
  • Profit After Tax stood at Rs 201 crore.
  • Order book at all?time high 5.1 GW including India’s largest wind order from  NTPC.

Girish Tanti, Vice Chairman, Suzlon Group, said: “Our core business is now on solid foundation to capitalise on the market momentum. We've fortified our leadership team, stabilised our new product offerings, ramped up our manufacturing capacity, enhanced our project execution capabilities, and built a robust order book. As the renewable energy sector continues to evolve, we're seizing the chance to explore new opportunities that align with our strategic objectives. To help us crystallise the most relevant prospects, we've engaged a leading global management consulting firm to provide expert guidance and insights. This collaboration will enable us to shape our future growth trajectory, identify potential adjacencies, and make informed decisions  that drive long?term success."

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Heavy Electrical Equipment company Suzlon Energy announced Q2FY24 results:

  • A net debt-free balance sheet following the successful completion of the Qualified Institutional Placement (QIP).
  • Total revenue of Rs 1,417 crore during the quarter.
  • EBITDA (pre-Forex) amounted to Rs 224 crore in Q2FY24, with an EBITDA margin (pre-Forex) of 15.8%. This represents a year-on-year (Y-o-Y) EBITDA (pre-Forex) growth of 7.8%.
  • Profit After Tax (PAT) before exceptional items reached Rs 137 crore in Q2FY24.

Girish Tanti, Vice Chairman, Suzlon Group, said, “During the quarter we have further seen policies that strengthen the sector to drive India’s green transition like the concrete guidelines for tariff based competitive bidding, announcement of the National Framework for promoting Energy Storage Systems, the Green Hydrogen standards, and the strategy for establishing Offshore Wind Energy Projects. These policies address varied pillar of the industry to catalyse India’s holistic energy transition. Encouragingly, the leading renewable energy states of the country; Gujarat, Maharashtra, Rajasthan and Telangana have followed?up with proactive strides in their own renewable energy policies towards their states’ energy transition journeys. Recently, Gujarat also announced their long?term renewable energy policy 2023 which is a comprehensive policy addressing various aspects to drive the growth of renewable energy in the state like captive consumption, C&I investments as well as MSME and domestic industry participation in renewables.”

JP Chalasani, Chief Executive Officer, Suzlon Group, said, “We have closed another satisfying quarter in line with our business plan for FY24. Our performance in Q2 FY24 has been consistent and heartening. As the market picks up momentum, we have continued to show solid improvement across our value chain. The highlight for us in the last few months has been the installation of the first prototype of our S144 – 3 MW turbine at 160mts hub height in Gujarat. This development is aligned to our plans for commercialization of this product series.”

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Heavy electrical equipment company Suzlon Energy announced Q1FY24 results:

  • Healthier balance sheet on all performance indicators 
  • Cumulative orders of nearly 1.6 GW
  • Revenue of Rs 1,348 crore in Q1FY24
  • EBITDA (pre-FX) of Rs 207 crore in Q1FY24 and EBITDA margin of 15.4%
  • Net profit of Rs 101 crore in Q1FY24 

GirishTanti, Vice-Chairman, Suzlon Group, said on the occasion, “Suzlon recently dedicated 20 GW of wind energy installations worldwide, as the world accelerates its green energy transition and India takes decisive strides to achieve net zero by 2070. With the country poised to lead the decarbonization of its economy, we are seeing renewed enthusiasm from India Inc. to drive this green energy transition. We remain committed to partnering with our customers towards achieving their net zero targets while building a sustainable world.”

JP Chalasani, Chief Executive Officer, Suzlon Group, said, “India recently announced 173 GW of renewable energy installations by May 2023. We are extremely proud of this milestone and Suzlon’s contribution to it as the largest renewable energy solutions company in the country. The central government had announced a slew of positive policy  reforms including guidelines for Green Energy Open Access. In the past month, some states have further announced their own open access regulations which facilitate rapid implementation of green energy projects. In a visionary move, Maharashtra became the first state in the country to announce its own green hydrogen policy. As an industry leader, we welcome the proactive participation of the states in driving the  renewable energy sector which is key for us to achieve our national targets.” 

 

 

 

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Heavy Electrical Equipment company Suzlon Energy announced Q4FY23 & FY23 results:

  • Revenue of Rs 5,947 crore in FY23; Rs 1,690 crore in Q4FY23
  • EBITDA of Rs 832 crore in FY23; Rs 233 crore in Q4FY23
  • PAT before exceptional items of Rs 167 crore in FY23; Rs 68 crore in Q4FY23
  • Cumulative Orders of 1,542 MW as of 30th May 2023
  • Current Net Debt at Rs 1,180 crore – ~80% YoY reduction
  • Net worth positive after a decade at Rs 1,099 crore
  • Successful Rights Issue of Rs 1,200 crore  -1.8 times oversubscribed
  • Successful launch of the powerful 3 MW series wind turbine technology platform to an overwhelming response from the market 

Girish Tanti, Vice Chairman, Suzlon Group, said, “It is heartening that our efforts to strengthen the organization and position it strongly in time to meet increasing market demand have been successful. As evident from these results we have closed FY23 with a strong financial performance and the successful launch of our powerful 3 MW technology platform. Our key strategic initiatives remain on track to fuel the long-term growth of the company. With a slew of encouraging policy initiatives from the government in 2023, the sector now has much-needed needed visibility, providing momentum for industries to kick-start their journey to net zero, thereby driving balanced and viable growth of the sector. As we embark on a revitalised growth journey, we would like to express our deepest gratitude to all our stakeholders for standing by us during challenging times and look forward to strengthening our relationship further in the next phase of growth for the Group.”

JP Chalasani, Chief Executive Officer, Suzlon Group said, “FY23 has been a year of demonstration and consolidation for Suzlon. We have addressed our challenges comprehensively over the last three years and FY23 was a year where the results were there for all to see. We reduced our net debt by more than 90% percent over the last three years to address our capital structure issues while responding to the market requirement of a larger wind turbine through our 144 — 3 MW series technology platform. Today we have cumulative orders of 1,542 MW which is the highest since 2019 and includes the order book as on March 31, 2023, of 652 MW plus orders secured subsequently of 890 MW. Out of this 780 MW is for our new 3 MW series demonstrating the immense trust that our customers have in Suzlon’s expertise and product technology. We have worked tirelessly and successfully to strengthen every aspect of the company in line with the vision defined by our late CMD Shri. Tulsi Tanti, setting up the company strongly to leverage the tailwinds of the sector from a position of strength.”

 

 

Result PDF

Heavy Electrical equipment firm Suzlon Energy announced Q3FY23 results:

  • Consolidated Q3FY23 results:
    • A healthier balance sheet with significantly reduced debt.
    • Revenue of Rs 1,449 crore in Q3FY23.
    • EBITDA of Rs 215 crore in Q3FY23 and EBITDA margin of 14.9%.
    • PAT of Rs 78 crore in Q3FY23, YoY PAT growth of 107.5%.

Girish Tanti, Vice Chairman, Suzlon Group, said, “The beginning of 2023 has been highly encouraging for the wind energy sector with a slew of crucial policy announcements. Some of the key announcements have been the MNRE order stating that India will invite bids for 8 GW of wind projects annually from 2023 to 2030 in addition to private sector orders, initiatives in the C&I (Commercial & Industrial) segment along with the ISTS waiver extension, discontinuation of e-reverse bidding and ensuring the participation of all eight windy states in the bidding regime. These policies will provide much needed visibility, give momentum to industrial investors and drive balanced and viable growth of the sector.”

“As industry leaders, we welcome these steps, which were imperative to achieve our national targets of 500 GW of non-fossil fuel installations by 2030 and our vision of an Aatmanirbhar Bharat. I believe that Indian wind energy is equipped and on track to contribute substantially towards India’s energy transition roadmap.”

Ashwani Kumar, Chief Executive Officer, Suzlon Group, said, “Q3 has been a stable quarter for us in line with our plans. Our priority going forward is pursuing quality orders with higher value and better margins. Our service business continues to do well, and our focus remains on executing our orderbook. We commissioned the first machine of our largest wind turbine series, the S144-3.x MW at Sankaneri, Tamil Nadu, in December 2022, and the early performance reports are very encouraging.”

“With the consistent strengthening of our fundamentals, Suzlon is now equipped to leverage the tailwinds of the sector from a position of strength as demonstrated by our consistently improving performance and relentless debt reduction endeavours.”

Result PDF

Heavy electronic Equipment Suzlon Energy announced Q2FY23 results:

  • Q2FY23:
    • Revenue of Rs 1,430 crore in Q2FY23 (YoY growth of ~6.2%)
    • EBITDA (pre-Fx) of Rs 208 crore in Q2FY23 and EBITDA margins (pre-Fx) of 14.5%, YoY EBITDA (pre-Fx) growth of ~8.3%
    • PAT of Rs 56 crore in Q2FY23

Girish Tanti, Vice-Chairman, Suzlon Group, said, “India has recorded an installation of 164.9GW* of renewable energy as on September 30, 2022, reflecting a healthy recovery of the sector despite the disruptions of the pandemic and the disastrous impact of the global geo-political situations on the supply chain and commodity prices. The environment of positive policy initiatives continues, and we believe that given the commitment and will of the Indian government, the country could very well achieve 500GW of renewable energy installations by 2030. As industry leaders we are fully equipped to leverage the tailwinds of the sector from a position of strength as demonstrated by our successful rights issue, consistently improving performance, a strong order book and our relentless debt reduction endeavours.”

Ashwani Kumar, Chief Executive Officer, Suzlon Group, said, “We have closed a very satisfying Q2 despite various challenges. While we continue to show improvement in our performance, the highlight for us has been the order intake in recent months. The confidence that our customers have reposed in us has always been our driving force. In line with our commercialisation plans, we recently dispatched the first set of blades of our newly launched larger turbines in the 3MW to 3.15MW series customised for Indian wind conditions with a rotor diameter of 144mts and an increased generation of ~45% over the S120. While our order book stood at 759MW as on 30th September 2022 we have subsequently added new orders of nearly 193MW. Our service business continues to do well, and our focus for the rest of the FY remains on executing our order book.”

Himanshu Mody, Chief Financial Officer, Suzlon Group, said, “At the outset, I would like to thank all our shareholders for showing tremendous faith in Suzlon as demonstrated through our recently closed rights issue which was oversubscribed by 1.8x. This show of confidence has reinforced our commitment towards creating more value for our stakeholders.”

“The Q2 of FY23 has seen us register consistent improvement resulting in a PAT positive quarter. We have seen a healthy YoY increase on all our key parameters of revenues, RR, EBITDA and PAT. We can also see the full impact of our consistent efforts to reduce debt on our decreasing finance costs further strengthening our balance sheet. In addition to our net debt position as on September 30, 2022, which stood at Rs 2,722 crores, we have subsequently reduced our debt by Rs 583.50 crores through the rights issue proceeds.”

Result PDF

Heavy Electrical Equipment firm Suzlon Energy announced Q1FY23 Result :

  • Healthier balance sheet with strong performance indicators
  • Revenue of Rs 1,378 crores in Q1 FY23 (YoY growth of ~21%)
  • EBITDA of Rs 214 crores in Q1 FY23 and EBITDA margin of 15.6%, YoY EBITDA growth of ~39%
  • PBT (before exceptional items) of Rs 7 crores in Q1 FY23

Ashwani Kumar, Chief Executive Officer, Suzlon Group, said, “India has reached 160GW of renewable energy in June, 2022 despite two years of a global pandemic and a disrupted supply chain. I am extremely proud of this milestone and Suzlon’s contribution to it as the largest original equipment manufacturer across the renewable energy sector in the country.”

“At Suzlon, we continue to show significant improvement in our performance. The ramping up of our operations has been successfully achieved and stabilized. We are beginning to show growth and are well positioned to leverage the tremendous opportunity that the renewables market has to offer in coming years. We launched our larger turbines in the 3MW to 3.15MW series with a rotor diameter of 144mts with an increased generation of ~45% over the S120 in low wind sites and are working on commercializing the same. While our order-book remains healthy, execution of orders to meet customer expectations is our priority for this FY.”

“Recent months have seen several positive policy initiatives by the GOI for the wind energy sector. In July 2022, MNRE took an in principle decision to relook at the e-reverse auction of wind energy projects with a view to remove it. This could be a game-changer and give tremendous boost to the sector. The recent order of the Ministry of Power now has a separate class for wind RPO (Renewable Purchase Obligation) with a clear increase in the wind RPO trajectory. This increased trajectory in combination with other policies will result in a much larger Indian Wind Energy market between now and 2030. As an industry leader, we welcome these initiatives.”

Result PDF

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