Suzlon Energy Limited reported a 67% rise in profit before tax to ₹2,422 crore for the financial year ended March 31, 2026, driven by record operational performance. The company achieved a profit after tax of ₹3,153 crore, which includes a deferred tax asset recognition of ₹742 crore for the year. Revenue from operations grew 54% year-on-year to ₹16,679 crore, supported by the delivery of 2,456 megawatts of wind turbine generators, the highest ever in India.

Operational Performance

The company delivered 830 megawatts in Q4 FY26, marking its highest-ever quarterly deliveries in India. For the full year, Suzlon commissioned 744 megawatts, while 971 megawatts were erected and awaiting commissioning. The order book stood at 5.9 gigawatt at the end of the period, comprising 66% from the C&I and PSU segments. The OMS business managed 15.7 gigawatts in India, maintaining machine availability above 95%.

Financial Highlights

Consolidated EBITDA for FY26 increased 63% to ₹3,022 crores, with margins expanding by 100 basis points to 18.1%. The WTG segment revenue grew 65% to ₹14,040 crores, recording a contribution margin of 24.5%. The balance sheet reflected a consolidated net worth of ₹9,464 crores and a net cash balance of ₹2,384 crores.

Strategic Developments

Suzlon is expanding its EPC offering, which grew from 20% to 28% of the order book in H2 FY26. The company signed a project implementation agreement with the Government of Andhra Pradesh, securing developmental rights for 2.1 gigawatts. This includes 775 megawatts for which a PPA was signed, now under consideration for conversion into FDRE. The remaining 1,325 megawatts is expected to be monetized through EPC contracts over the next six months. Additionally, the company launched its Blue Sky platform in Spain to re-enter European markets.

Suzlon Energy has been penalized ₹15.95 crore by the Securities and Exchange Board of India (SEBI) regarding misstatements in its financial statements for FY 2013-14 to FY 2017-18. The regulator passed the order on May 29, 2026, setting aside a previous adjudication order from June 27, 2025, that had exonerated the company and other noticees. Suzlon Energy confirmed it will file an appeal before the Securities Appellate Tribunal against this latest order.

The penalty was imposed by SEBI's Whole Time Member under Section 15-I(3) of the SEBI Act and Section 23-I(3) of the Securities Contracts (Regulation) Act, 1956. The action follows a show cause notice dated September 26, 2025, which questioned why the earlier exoneration should not be reviewed. The company disclosed that it received a formal copy of the order directly from SEBI on June 1, 2026, and promptly submitted the required summary to the exchanges.

Penalties Imposed on Noticees

The order levies fines on the company and several of its top executives. The detailed penalties are outlined below:

Regulatory Non-Compliances

SEBI identified specific aberrations and non-compliances in its order. Suzlon Energy Limited was found to have violated Section 12A(a), 12A(b) and 12A(c) of the SEBI Act, alongside regulations under the SEBI (PFUTP) Regulations, 2003, and the SEBI (LODR) Regulations, 2015. Executives Mr. Vinod R. Tanti and Mr. Girish R. Tanti were cited for violations related to FY 2016-17 and FY 2017-18, while Mr. Kirti J. Vagadia and Mr. Amit Agarwal were cited for lapses in earlier financial years and disclosures.

The company stated there would be no impact on its financial, operational, or other activities as a result of this order. The disclosure was made to the National Stock Exchange of India Limited and BSE Limited on May 30, 2026, with a formal submission following on June 2, 2026.