Suzlon Energy Limited has reported its Q2 FY27 financial results, showcasing a sequential revenue increase to INR4,869 crores and EBITDA growth to INR720 crores. The company highlighted a strong market position and a robust order book of 6 gigawatts, providing visibility for the next 18 months. Management emphasized strategic initiatives and the positive outlook for India’s wind energy sector.
Suzlon Energy Q2 FY27 Earnings Highlights
Suzlon Energy Limited has announced its financial results for the second quarter of FY27, demonstrating sequential growth and a positive outlook driven by the expanding Indian wind energy sector. The company reported a revenue of INR4,869 crores for Q2 FY27, a 27% increase quarter-on-quarter from INR3,819 crores in Q1 FY27. EBITDA also saw a significant rise, reaching INR720 crores, up 21% from the previous quarter. Profit after tax for the quarter stood at INR394 crores, marking a 29% increase sequentially.
Industry Performance and Suzlon’s Position
Ajay Kapur, Group CEO, highlighted that Q2 FY27 marks a significant inflection point for India’s wind energy sector, which is increasingly recognized as a strategic pillar for energy security and manufacturing growth. India has surpassed 59 gigawatts of installed wind capacity, with ambitious targets for renewable energy by FY30. Suzlon delivered 710 megawatts in Q2 FY27, its highest second quarter in India. Commissioning grew over 69% to 454 megawatts in Q2 FY27, with H1 FY27 installations reaching 723 megawatts.
Order Book and Future Prospects
The company’s order book stands at 6 gigawatts, reaffirming its market leadership. In H1 FY27, Suzlon secured 1.5 gigawatts of new orders, contributing to an order backlog that provides coverage for approximately 18 months. Suzlon is expanding its technology portfolio with high-capacity turbines and has a manufacturing capacity of 4.5 gigawatts. The company is also seeing traction in exports and is exploring opportunities in FDRE (Flexible Demand Response Energy) and BESS (Battery Energy Storage Systems) through its DevCo model, aiming for an asset-light approach.
Financial Performance Overview
Rahul Jain, Group CFO, presented the financial performance, noting a year-on-year consolidated EBITDA margin impact due to segment customer and scope mix changes, and forex and commodity volatility. However, for H1 FY27, deliveries grew 21% year-on-year to 1,217 megawatts, with revenue rising 24% year-on-year to INR8,688 crores and EBITDA at INR1,315 crores. PAT for H1 stood at INR699 crores. The balance sheet shows strong consolidation with net worth crossing INR10,000 crores to INR10,277 crores and a net cash position of INR2,048 crores.
Addressing Market Dynamics
Management addressed questions regarding margin pressures, attributing them to commodity and FX volatility, as well as customer and scope mix changes. They anticipate WTG contribution margins to remain in the 22%-23% range for FY27. Suzlon is also focusing on its DevCo business, with a total allocation of about INR500 crores, and is progressing on asset-light models for solar and BESS projects. The company sees significant opportunity in the expanding Indian market and aims to increase its market share to 40% by FY31.
Source: BSE
