Suzlon Energy Limited held its Q4 FY26 earnings conference call on May 25, 2026, detailing significant growth and future projections. The company reported achieving a 60% revenue growth for FY26, with overall EBITDA increasing by 63% and profit before tax by 67%. Key highlights included a record 830 MW delivery in Q4 and 2,456 MW for the full year, alongside a robust order book of 5.9 GW, with a growing focus on EPC offerings.
Suzlon Energy Reports Robust Q4 FY26 Performance
Suzlon Energy Limited announced strong financial results for the fourth quarter and full year of FY26 during its investor conference call on May 25, 2026. The company highlighted the achievement of its commitments, including a 60% growth in revenue for FY26, with overall EBITDA rising by 63% and consolidated profit before tax by 67%. The WTG (Wind Turbine Generator) revenue saw an increase of 65%.
Key Financial and Operational Highlights
Suzlon reported a consolidated revenue of INR16,679 crores for the full year FY26, marking a substantial 54% year-on-year growth. EBITDA reached INR3,022 crores, a 63% increase year-on-year, with an expanded EBITDA margin of 18.1%. Profit after tax (PAT) for the full year was INR3,153 crores. The company also noted that PAT includes a deferred tax asset recognition of INR742 crores for FY26. Consolidated net worth stood at INR9,464 crores, with a net cash balance of INR2,384 crores.
Record Deliveries and Growing Order Book
The company achieved record deliveries in FY26, with 830 megawatts (MW) in Q4 and a total of 2,456 MW for the full fiscal year, representing its highest-ever deliveries in India. The order book now stands at 5.9 gigawatts (GW), with 66% of this comprising the rapidly growing C&I (Commercial & Industrial) and PSU (Public Sector Undertaking) segments. Suzlon is focusing on expanding its EPC (Engineering, Procurement, and Construction) offering, which has grown to 28% of the order book in H2 FY26. The S144 platform has secured orders totaling close to 9 GW.
Industry Outlook and Future Growth Drivers
Management expressed optimism about the industry’s future, anticipating a demand of 8-9 GW in FY27 and around 10 GW in FY28. The trend towards FDRE (Forward-looking Demand Response Energy) is expected to drive multiyear growth, with installations potentially reaching 15 GW in the next five years. The company is also seeing traction in repowering opportunities and is expanding its European presence with the launch of its Blue Sky platform.
DevCo Model and Andhra Pradesh Project
Suzlon is increasingly focusing on its DevCo (Development Company) model, which involves taking land acquisition and project development responsibilities. A significant development is the extension of the Project Implementation Agreement (PIA) for 2.1 GW in Andhra Pradesh by another 24 months. While 775 MW of this has a signed PPA, the remaining capacity is expected to be converted into firm EPC contracts from June onwards. The company sees this as a key engine for future growth.
Operational Efficiency and Cost Management
The company’s OMS (Operations and Maintenance Services) business remains strong, managing over 15.7 GW with machine availability consistently above 95%. The Forging & Foundry segment also showed strong growth, with revenue up 22% and EBITDA up 61%. Suzlon continues to focus on R&D, cost optimization, supply diversification, and the ‘Make in India’ initiative to maintain resilience and mitigate costs in a dynamic market environment.
Source: BSE
