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Suzlon Energy reported a Q2 FY26 net profit of Rs. 1,279 crore, soaring by 539% YoY, aided by tax benefits and strong operational performance.
The company's order book reached a high of 6.2 GW, indicating strong demand for projects related to wind turbines.
With Rs. 1,480 crore net cash and expanding margins, Suzlon is set for long-term growth in India's renewable energy boom.
Suzlon Energy Q2 results have been released. The renewable energy giant’s consolidated net profit zoomed 539% YoY to Rs. 1,279 crore compared to Rs. 200 crore reported in the same quarter a year ago. The results were declared on November 4. Investors are yet to react fully to the news, as the Indian stock market today, on November 5, remained closed to celebrate Guru Nanak Jayanti.
Suzlon’s revenue from operations rose 85% YoY to Rs. 3,866 crore from Rs. 2,093 crore in Q2 FY25. This was due to improved delivery volumes along with sustained demand in the wind turbine generator business. The company reported an EBITDA of Rs. 716 crore, up 153% from Rs. 283 crore a year ago. The EBITDA margin stood at 18.5% versus 13.5% a year ago. This showed improved execution efficiencies and cost optimization.
The company saw its highest-ever second-quarter deliveries in India of 565 MW in Q2 FY26. The hike was backed by better operating leverage, improved manufacturing capacity utilization, and a strong execution pipeline.
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The recognition of incremental deferred tax assets of Rs. 717 crore during the quarter contributed significantly to this jump at the bottom line. Indeed, excluding this tax write-back, Suzlon's PBT grew 179% year-on-year to Rs. 562 crore, underlining strong core business profitability.
Management termed Suzlon's improvement in the successive 11 quarters as a "future-ready organization focused on sustainable growth." Girish Tanti, Vice Chairman of the Suzlon Group, believes that the performance through revenue, profit, and EBITDA reflects resilience amid the rapid expansion of India's wind energy market.
Suzlon's order book attained an all-time high of 6.2 GW, with over 2 GW of new additions in the first half of FY26 itself. This strong order inflow showed the company's capability to capture the growing demand as India accelerates its transition toward renewable energy.
Suzlon had a net cash balance of Rs. 1,480 crore as of September 30, 2025, thus strengthening its financial position further. This is a reflection of prudent debt management and increased cash generation from operations.
The WTG segment, Suzlon's core business, contributed Rs. 3,241 crore in revenues, more than double from Rs. 1,507 crore last year.
The business of Foundry & Forgings also witnessed a steep increase in revenue at Rs. 121 crore from Rs. 83 crore.
The Operations and Maintenance segment stood at Rs. 575 crore, against Rs. 565 crore in the same period a year ago.
Suzlon Group CEO JP Chalasani is optimistic about the future trajectory of the company. He said that the Indian wind energy market is preparing for 6 GW installations in FY26 and 8 GW in FY27.
"With fully augmented domestic manufacturing capacity and world-class products made in India, Suzlon is well positioned to lead the next phase of wind energy expansion," Chalasani said. With trading resuming after the holiday, market watchers are expecting an upbeat reaction in Suzlon share price, which last closed at Rs. 59.94 on the NSE, up 1.18% ahead of the results.
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Suzlon's second quarter for the fiscal year 2026 is a terrific indication of a company firing on all cylinders, strong growth in revenues, growing margins, record orders, and a healthy level of cash. India's renewable sector is on the verge of rapid growth, and Suzlon's commitment to focusing on its core business and operational excellence sets it up well for long-term and profitable growth.
1. What drove Suzlon Energy’s profit growth in Q2 FY26?
Suzlon Energy's earnings rose primarily due to robust delivery volumes, solidified margins, and a one-time tax write-back of Rs. 717 crore from previous years. The performance would have been equally impressive without accounting for the tax write-back, as pre-tax profits increased by 179%. This reinforces the underlying strength of the business.
2. What was Suzlon's revenue growth in the quarter?
Suzlon's revenue expanded 85% year-over-year to Rs. 3,866 crore in Q2 FY26, driven by increased demand from its wind turbine generator segment and improved operating efficiencies across manufacturing.
3. What does it mean for Suzlon to have a record 6.2 GW order book?
Suzlon's 6.2 GW order book - its largest ever - gives the company strong revenue visibility for the next quarter. It is indicative of an increased confidence from customers and advancing India in its renewable energy commitment.
4. How financially fit is Suzlon Energy at this time?
Suzlon reported a net cash position of Rs. 1,480 crore as of September 2025. The company is improving its liquidity, shifting margins, and benefitting from operational leverage, positioning it well for the future.
5. What is next for Suzlon and the wind sector when it comes to India?
Suzlon expects to install 6 GW in FY26 and 8 GW in FY27, helping India ramp up its clean energy capacity. Suzlon's strong position in the domestic market, combined with operating efficiencies, positions it well to take a share in this massive domestic clean energy expansion.
