Suzlon Energy Q2 FY26 Earnings Results: 538% PAT Growth with Record 6.2 GW Order Book

Suzlon Energy Limited, India’s leading renewable energy solutions provider, has reported exceptional results for the second quarter ended September 30, 2025 (Q2 FY26), marking its strongest quarterly performance in three decades. 

The company achieved record-breaking revenue, profitability, and operational execution across all key segments.

Suzlon Energy Q2FY26 Earnings Results

For Q2 FY26, Suzlon Energy posted consolidated revenue from operations of ₹3,866 crore, an 85% jump compared to ₹2,093 crore in Q2 FY25. EBITDA grew 145% YoY to ₹721 crore from ₹294 crore in the same quarter last year, with margins improving to 18.6% from 14.1%.

Profit after tax (PAT) surged 538% to ₹1,279 crore in Q2 FY26 versus ₹201 crore in Q2 FY25. This included deferred tax asset recognition of ₹718 crore. Profit before tax rose 179% YoY to ₹562 crore, underscoring strong operating leverage and disciplined cost management.

Operational Excellence and Deliveries

The company achieved record Q2 deliveries of 565 MW, a 121% increase over 256 MW in Q2 FY25. In H1 FY26, total deliveries reached 1,009 MW, reflecting 90% growth over H1 FY25.

The performance highlights Suzlon’s improved execution capabilities and robust project management across its manufacturing and field operations.

Read More: Suzlon Energy Appoints Rahul Jain as CFO and Bharat Ramani as Internal Auditor!

Industry-Leading Order Book

Suzlon’s order book hit an all-time high of 6,222 MW as of September 30, 2025, up from 5,025 MW in June 2025. Over 2 GW of new orders were secured during H1 FY26. The order mix comprises 90% S144 turbines and 10% S120 models, with 80% being non-EPC contracts. 

The customer base includes 51% captive/C&I/retail clients, 34% government auction projects, and 14% PSU clients, indicating a balanced and diversified business portfolio.

Financial Strength and Balance Sheet

The company maintained a strong net cash position of ₹1,480 crore as of September 30, 2025, providing financial flexibility for growth. Total assets stood at ₹15,856 crore, while net worth rose to ₹7,860 crore from ₹6,106 crore in March 2025. 

Trade receivables increased to ₹5,046 crore due to higher business activity, while borrowings remained minimal at ₹320 crore.

Business Segment Performance

The Wind Turbine Generator (WTG) segment reported revenue of ₹5,740 crore in H1 FY26 with EBITDA of ₹893 crore.

The Operations & Maintenance (O&M) services segment delivered ₹1,159 crore in revenue with a healthy 40.7% EBITDA margin. SE Forge Ltd., Suzlon’s foundry subsidiary, achieved ₹267 crore in revenue, a 53% YoY increase.

Management Commentary

Girish Tanti, Vice Chairman of Suzlon Group, said the results demonstrate the company’s transformation into a future-ready, sustainable enterprise, maintaining consistent performance over 11 consecutive quarters.

JP Chalasani, CEO of Suzlon Energy, noted that the 6.2 GW order book validates Suzlon’s strategy and operational execution. He added that India’s wind market is projected to achieve installations of 6 GW in FY26 and 8 GW in FY27, positioning Suzlon to drive long-term growth and profitability.

Suzlon Energy Share Price Performance

On November 4, 2025, Suzlon Energy share price opened at ₹59.59 on NSE, above the previous close of ₹59.24. During the day, it surged to ₹60.36 and dipped to ₹58.83. The stock is trading at ₹60.33 as of 11:16 AM. The stock registered a moderate gain of 1.84%.

Over the past week, it has moved up by 3.68%, over the past month, it has moved up by 11.50%, and over the past 3 months, it has declined by 7.18%.

Conclusion

Suzlon Energy’s Q2 FY26 results reaffirm its leadership in India’s renewable energy sector. With record revenue and profits, a robust 6.2 GW order book, a strong balance sheet, and 4,500 MW domestic manufacturing capacity, Suzlon is likely to capitalise on the accelerating clean energy transition.

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