Suzlon Energy Limited delivered exceptional performance in Q3 FY26, setting new benchmarks in execution and financial metrics during its earnings conference call held on February 05, 2026. The wind energy company achieved record-breaking quarterly deliveries while maintaining strong order book momentum and robust financial health.

Record-Breaking Quarterly Performance

Suzlon achieved its highest-ever quarterly deliveries of 617 MW in Q3 FY26, marking the highest quarterly deliveries in India since the company's inception. This milestone demonstrates the company's enhanced execution capabilities and strong market position in India's rapidly growing wind energy sector.

The company's nine-month FY26 performance was equally impressive, with deliveries growing 66% to 1,625 MW, already surpassing the full-year FY25 level of 1,550 MW. This acceleration in execution reflects Suzlon's enhanced manufacturing capabilities and improved project management.

Strong Order Book and Market Position

Suzlon maintained its market leadership with a record order book of 6.4 GW, supported by over 3 GW of new order wins during the current financial year. The company achieved a book-to-bill ratio of 1.9x, indicating strong demand visibility and future revenue security.

The S144 turbine platform continued to gain strong customer acceptance, with order book exceeding 5.4 GW. The company's focus on expanding EPC offerings showed positive results, with EPC share growing from 20% to 27% in Q3, enhancing competitive positioning and accelerating order book growth.

Nine-Month Financial Highlights

For the nine months ended December 2025, Suzlon demonstrated strong financial performance across all key metrics. Revenue increased 58% year-on-year to INR11,211 crores, while consolidated EBITDA grew 77% to INR2,058 crores, reflecting improved operational efficiency and margin expansion.

Balance Sheet Strength and Manufacturing Expansion

Suzlon's balance sheet as of December 2025 reflects exceptional financial strength with consolidated net worth of INR8,332 crores and net cash position of INR1,556 crores. This strong financial position provides flexibility for growth investments and enhances operational resilience.

The company's 4.5 GW manufacturing capacity is fully operational and scaled to support the current order book. Suzlon is establishing three new AI-enabled smart blade factories to further expand manufacturing footprint and enhance technological capabilities.

Subsidiary Performance and Strategic Initiatives

SE Forge, Suzlon's forging and foundry business, delivered strong performance with 33% year-on-year revenue growth in nine months to INR429 crores and EBITDA of INR88 crores. The subsidiary is positioned to benefit from stronger domestic demand and emerging export opportunities.

Suzlon's OMS business maintains robust performance with over 15.5 GW under management in India and machine availability consistently above 95%. The company was recognized among the top 10 most sustainable companies globally for 2026 by Corporate Knights, being the only Indian company featured in the Global 100 Most Sustainable Corporation list.

Management Outlook and Guidance

Management reaffirmed confidence in achieving FY26 guidance of 60% year-on-year growth across key performance indicators. Group CEO J.P. Chalasani emphasized that order intake remains strong, with the primary focus on improving execution capabilities to meet growing demand. The company is developing a strong pipeline of over 25 GW through its development initiatives, positioning for sustained long-term growth in India's expanding wind energy market.

Suzlon Energy delivered exceptional financial performance in Q3FY26, with consolidated revenue surging 42% year-on-year to ₹4,228 crores compared to ₹2,969 crores in the same period last year. The renewable energy company reported consolidated net profit of ₹445 crores, marking 15% year-on-year growth from ₹388 crores, though this fell short of analyst estimates.

Strong EBITDA Performance

The company demonstrated robust operational efficiency with EBITDA jumping 48% to ₹739 crores compared to ₹500 crores in the previous year. The EBITDA margin improved to 17.5% from 16.8% year-on-year, indicating enhanced profitability and better cost management across operations.

Operational Excellence and Market Leadership

Suzlon Energy achieved its highest-ever quarterly deliveries of 617 MW in Q3FY26, representing a 38% increase from 447 MW in the corresponding quarter last year. The company maintained its market leadership position with a record order book of 6.4 GW and strong execution capabilities across its wind energy portfolio.

Nine-Month Performance Highlights

For the nine months ended December 2025, the company reported consolidated revenue of ₹11,211 crores, representing a 58% increase from ₹7,078 crores in the corresponding period last year. EBITDA for the nine-month period surged 77% to ₹2,058 crores, while net profit reached ₹2,049 crores compared to ₹891 crores in the previous year.

Strategic Business Transformation

The company has initiated Suzlon 2.0, a comprehensive business transformation strategy aimed at establishing itself as a full-stack clean energy solutions conglomerate. This strategic shift broadens the scope across wind, solar, storage, and emerging clean energy technologies, enabling integrated solutions for customers. The balanced EPC strategy targets around 50% share of the EPC business by 2028, with the EPC share increasing from 20% to 27% this quarter.

Financial Position and Outlook

Suzlon Energy maintained a strong financial position with a net cash position of ₹1,556 crores as of December 31, 2025. The company's project development pipeline of 25+ GW complements its growth strategy, while the wind energy sector continues to benefit from India's renewable energy expansion plans and favorable policy environment.