Suzlon Energy delivered a robust financial performance for the year ended March 31, 2026, with consolidated net profit rising 53% to ₹3,163 crore from ₹2,072 crore in the previous year. Revenue from operations surged 54% year-on-year to ₹16,679 crore, driven by the highest-ever annual India deliveries of 2,456 MW. The company's order book stands strong at approximately 5.9 GW, with 66% of orders originating from the PSU and C&I sectors.

Key Financial Highlights

The following table summarizes Suzlon Energy's financial performance for the quarter and year ended March 31, 2026:

Operational Performance

For the fourth quarter of FY26, Suzlon reported revenue of ₹5,468 crore, a significant increase from ₹3,774 crore in the corresponding period of the previous year. Net profit for the quarter stood at ₹1,114 crore, marking a 150% increase compared to the net profit of ₹445 crore in the preceding quarter. The company achieved its highest-ever quarterly India deliveries of 830 MW during Q4 FY26. EBITDA for the quarter grew to ₹964 crore from ₹693 crore in Q4 FY25, while the EBITDA margin stabilized at 17.60%.

Annual Results

On an annual basis, Suzlon's EBITDA increased 63% to ₹3,022 crore, with the margin expanding to 18.10% from 17.10% in FY25. Profit Before Tax (PBT) jumped 67% to ₹2,422 crore. The company maintained a healthy net cash position of ₹2,384 crore as of March 31, 2026. Management attributed the strong performance to robust execution across the business and a resilient order book, highlighting that the flagship S144 platform has achieved a cumulative order intake of approximately 9 GW.

Management Outlook and Sector Expectations

Suzlon's management has shared a constructive outlook on the broader wind energy sector, expecting installations to reach 8-9 gigawatts by FY27, potentially scaling to 10 gigawatts by FY28, and further accelerating to 15 gigawatts by FY30/31. While management forecasts positive delivery trends for the company, specific FY27 delivery figures were not disclosed. On the capital expenditure front, the company anticipates capex of approximately ₹600 crore, plus or minus ₹50 crore, for the coming years. Of this, around ₹300-350 crore is currently being deployed towards the Devco model, with the possibility of additional working capital requirements going forward.

Suzlon Energy has secured a repeat order of 195 MW from Sunsure Energy, taking the total sales of its highly successful 3 MW platform to nearly 9 GW. This milestone reflects strong and sustained market adoption for the Suzlon 3X platform. The order builds on the ongoing partnership between the two companies, bringing the cumulative partnership capacity to nearly 300 MW across Maharashtra and Karnataka.

With this order, Suzlon's orderbook in Karnataka now crosses the 2 GW milestone, marking a key development in one of India's leading wind markets. Suzlon's current installed base in Karnataka stands at 1,500 MW, contributing to 24% of its installed base in South India. The company is also executing other large commercial and industrial (C&I) projects in the state, with a total capacity of 664 MW.

Key Highlights of the Order

The following table summarises the key parameters of this latest order win:

Project Scope and Execution

Suzlon will install 65 state-of-the-art S144 wind turbine generators (WTGs), each rated at a 3.0 MW capacity. The scope of work includes supplying the wind turbines, executing the project including erection and commissioning, and undertaking comprehensive operations and maintenance services post-commissioning. The project is set to be executed in the Bijapur district of Karnataka.

Leadership Commentary

Girish Tanti, Executive Vice Chairman, Suzlon Group, highlighted the significance of the order, noting that the 3 MW platform is a key driver for the company's growth in India. He stated that Karnataka has emerged as the largest market by orderbook, with over 2 GW orders, making it a top priority market alongside Gujarat, Tamil Nadu, Rajasthan, and Maharashtra. The growth is driven by rising demand from the C&I segment for round-the-clock (RTC) solutions.

Ajay Kapur, Chief Executive Officer, Suzlon Group, emphasized the trust placed in the company's capabilities. He noted that the partnership with Sunsure Energy, now close to 300 MW, is driven by a consistent focus on quality, execution, and lifecycle support.