Mumbai: Suzlon Energy Limited, India's leading renewable energy solutions provider, announced exceptional unaudited financial results for the third quarter ending December 31, 2025, showcasing remarkable growth across all key parameters.
Financial Performance Highlights (Consolidated)
Q3 FY2026 (October-December 2025)
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Net Profit: ₹445.28 crore – A 45% Year-on-Year (YoY) increase from ₹387.76 crore in Q3 FY2025
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Revenue from Operations: ₹4,228.18 crore – 42% YoY growth from ₹2,968.81 crore
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EBITDA: ₹739 crore – 48% YoY increase with margins at 17.5%
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Profit Before Tax (PBT): ₹566.75 crore – 45% YoY growth
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Earnings Per Share (EPS): ₹0.32 (Basic & Diluted)
Nine Months FY2026 (April-December 2025)
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Net Profit: ₹2,049.04 crore – 130% increase from ₹890.65 crore
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Revenue: ₹11,211.05 crore – 58% YoY growth
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EPS: ₹1.50 (Basic & Diluted)
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Net Cash Position: ₹1,556 crore as of December 31, 2025
Record Operational Performance
Key Milestones
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Highest-ever quarterly deliveries: 617 MW in Q3 FY2026
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Active execution pipeline: ~2.4 GW underway, providing strong growth visibility
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Order Book: Record 6.4 GW, higher than opening orderbook despite high deliveries
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Year-to-date deliveries: 1,625 MW in 9M FY2026 – 66% YoY increase
Segment-Wise Performance
Wind Turbine Generator (Main Business)
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9M FY2026 Revenue: ₹9,298.48 crore
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Contribution Margin: 33.5% for 9M FY2026
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S144 Model Dominance: 89% of orderbook, with 2.9 GW delivered and 5+ GW firm orders
Operations & Maintenance Services
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9M FY2026 Revenue: ₹1,788.68 crore
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Installed Base: 15.5+ GW across India
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Asset Management: Over 10,000 turbines serving 1,900+ customers
Foundry & Forging (SE Forge)
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9M FY2026 Revenue: ₹428.71 crore – 33% YoY growth
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EBITDA: ₹88 crore – 121% YoY increase
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Capacity Utilization: 58% with expansion potential
Strategic Initiatives & Growth Drivers
Suzlon 2.0 Transformation
The company has initiated "Suzlon 2.0" – a comprehensive business transformation strategy to become a full-stack clean energy solutions conglomerate, expanding into wind, solar, storage, and emerging clean technologies.
EPC Strategy Progress
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EPC business share increased from 20% to 27% this quarter
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Targeting ~50% share of EPC business by 2028
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Project development pipeline: 25+ GW
Manufacturing Expansion
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Current domestic manufacturing capacity: 4,500 MW
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Three new AI-enabled smart blade factories planned
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Scalable manufacturing to cater to future market growth
Market Outlook & Policy Support
Industry Growth Projections
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Wind capacity: Expected to reach 400 GW by 2047 with 10% CAGR
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Power demand: Projected to nearly triple to 4,490 TWh by 2047
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Renewable energy: Set to grow nearly tenfold to 1,600 TWh
Recent Policy Developments
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Lowering of duties for critical wind turbine components
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Wind included under national manufacturing mandate
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VGF scheme with ₹7,500 crore outlay for 1 GW offshore wind
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GST reduction on wind equipment from 12% to 5%
Financial Position & Ratios
Strong Balance Sheet
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Net Worth: ₹8,332 crore (as of December 31, 2025)
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Total Borrowings: ₹322 crore
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Current Ratio: Healthy position with adequate working capital lines
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Inventory: ₹4,574 crore (supporting execution ramp-up)
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Trade Receivables: ₹5,745 crore
Awards & Recognition
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Named among world's top 10 most sustainable companies (Corporate Knights Global 100 2026)
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Climbed 81 ranks on ET500 to position 224
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Silver award for Technology Excellence from Brandon Hall Group
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Wind Energy Leader of the Year award for Vice Chairman Girish Tanti
Audit & Compliance
The financial results were reviewed by Walker Chandiok & Co LLP, Chartered Accountants. The Audit Committee reviewed and the Board of Directors approved the results in their meeting held on February 5, 2026. The Board meeting commenced at 12:05 PM and concluded at 1:15 PM.
Management Commentary
Girish Tanti, Vice Chairman, Suzlon Group: "We have initiated Suzlon 2.0, a comprehensive business transformation strategy aimed at establishing ourselves as a full-stack clean energy solutions conglomerate."
JP Chalasani, Chief Executive Officer, Suzlon Group: "Our closing order book of 6.4 GW stands higher than the opening orderbook for the quarter, despite the highest-ever deliveries in 30 years."
Rahul Jain, Chief Financial Officer, Suzlon Group: "Q3 FY2026 marks another milestone in Suzlon's growth journey, with our highest-ever quarterly deliveries of 617 MW in India resulting in strong upswing across all financial metrics."