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Suzlon Energy Limited Q2 FY26 earnings call summary

NSE: SUZLON · BSE: 532667

Earnings call of 4 Nov 2025, summarised by AI from the filing.

Suzlon delivered record 565 MW in Q2 FY26 and reiterated FY26 guidance of 60% year-on-year growth across key parameters.

Key takeaways

  1. Record execution Delivered record 565 MW in Q2 FY26, highest ever Q2 in India in over 30-year history.
  2. Guidance Reiterated FY26 guidance of 60% year-on-year growth across all key performance parameters.
  3. EPC strategy Targeting 50:50 EPC to non-EPC mix by FY28, from current 20:80, to improve execution control and margins.
  4. Working capital Receivables surge due to higher public sector supplies with longer payment cycles; not a red flag, expected to taper.

Original filing on BSE

Suzlon Energy Limited Q1 FY27 results

As filed: Revenue ₹3,829 cr (+22% year on year), EBITDA ₹595 cr (−1% year on year), PAT ₹305 cr (−6% year on year), EBITDA margin 15.6% (−358 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹5,493 cr (+45% year on year), EBITDA ₹964 cr (+39% year on year), PAT ₹1,114 cr (−6% year on year), EBITDA margin 17.6% (−76 bps). Score 30 of 100, Below trend. Revenue growth was below the company's own trend; EBITDA and profit growth were well below it. EBITDA margin fell 76 bps year on year. Tax rate -34%. Consolidated profit -6% but standalone +87%. Revenue rose ₹1,703 cr on a year ago, more than the ₹1,594 cr it added the year before. Share price after the results: +7.7% in 30 days (Nifty 500: +2.1%).
  • Q3 FY26: Revenue ₹4,236 cr (+42% year on year), EBITDA ₹738 cr (+48% year on year), PAT ₹445 cr (+15% year on year), EBITDA margin 17.4% (+66 bps). Score 40 of 100, Below trend. Revenue and EBITDA growth were below the company's own trend; profit growth was well below it. EBITDA margin rose 66 bps year on year. Profit fell 65% from last quarter. Revenue rose ₹1,261 cr on a year ago, against ₹1,415 cr the year before. Share price after the results: −19.7% in 29 days (Nifty 500: −4.5%).
  • Q2 FY26: Revenue ₹3,871 cr (+84% year on year), EBITDA ₹721 cr (+145% year on year), PAT ₹1,279 cr (+300% year on year), EBITDA margin 18.6% (+465 bps). Score 95 of 100, Above trend. Revenue, EBITDA and profit growth were well above the company's own trend. EBITDA margin rose 465 bps year on year. Tax rate -127%. Revenue grew on the previous quarter, against its usual seasonal pattern. Revenue rose ₹1,768 cr on a year ago, more than the ₹682 cr it added the year before. Share price after the results: −14.2% in 30 days (Nifty 500: −0.3%).
  • Q1 FY26: Revenue ₹3,132 cr (+55% year on year), EBITDA ₹599 cr (+62% year on year), PAT ₹324 cr (+7% year on year), EBITDA margin 19.1% (+83 bps). Score 56 of 100, In line with trend. Revenue and EBITDA growth were in line with the company's own trend; profit growth was well below it. EBITDA margin rose 83 bps year on year. Revenue fell 17% from last quarter. Revenue rose ₹1,110 cr on a year ago, more than the ₹671 cr it added the year before. Share price after the results: −9.8% in 30 days (Nifty 500: +2.4%).
  • Q4 FY25: Revenue ₹3,790 cr (+73% year on year), EBITDA ₹694 cr (+94% year on year), PAT ₹1,181 cr (+300% year on year), EBITDA margin 18.3% (+205 bps). Score 81 of 100, Above trend. Revenue growth was above the company's own trend; EBITDA and profit growth were well above it. EBITDA margin rose 205 bps year on year. Tax rate -114%. Revenue rose ₹1,594 cr on a year ago, more than the ₹502 cr it added the year before. Share price after the results: +2.9% in 29 days (Nifty 500: +3.3%).
  • Q3 FY25: Revenue ₹2,975 cr (+91% year on year), EBITDA ₹499 cr (+102% year on year), PAT ₹388 cr (+91% year on year), EBITDA margin 16.8% (+94 bps). Score 76 of 100, Above trend. Revenue and EBITDA growth were well above the company's own trend; profit growth was in line with it. EBITDA margin rose 94 bps year on year. Tax rate 1%. Profit lagged EBITDA because of depreciation, interest or other income, not the business. Profit rose ₹185 cr on a year ago, more than the ₹125 cr it added the year before.
  • Q2 FY25: Revenue ₹2,103 cr (+48% year on year), EBITDA ₹294 cr (+31% year on year), PAT ₹201 cr (+97% year on year), EBITDA margin 14.0% (−185 bps). Score 77 of 100, Above trend. EBITDA margin fell 185 bps year on year. Tax rate 0%. Not enough history for a trend yet: scored on growth alone. Profit fell 33% from last quarter.

Past price moves after results do not indicate future moves. Not a recommendation.

Suzlon Energy Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.