Suzlon Energy Q4 FY26 profit falls 6% to ₹1,114 crore despite 45% revenue surge
Synopsis
Suzlon Energy's Q4 profit headline looks soft — down 6% year-on-year — but the real story is a 150% sequential profit surge, a 45% revenue jump, record annual deliveries of 2,456 MW, and a ₹3,163 crore full-year profit. With a 5.9 GW order book and 66% from PSU and C&I clients, Suzlon is positioning itself as the backbone of India's wind energy buildout.
Key Takeaways
Suzlon Energy reported Q4 FY26 net profit of ₹1,114.35 crore , down 5.74 per cent year-on-year but up nearly 150 per cent sequentially.
Q4 revenue from operations rose 45 per cent YoY to ₹5,468.06 crore .
Full-year FY26 revenue grew 54 per cent to ₹16,679 crore ; annual profit jumped 53 per cent to ₹3,163 crore .
Record annual deliveries of 2,456 MW and quarterly deliveries of 830 MW achieved in FY26.
Order book stands at nearly 5.9 GW , with 66 per cent from PSU and C&I segments.
Net cash position at ₹2,384 crore as of 31 March 2026 .
Suzlon Energy Limited on Monday, 26 May 2026, reported a 5.74 per cent year-on-year decline in consolidated net profit for the March quarter (Q4 FY26), even as revenue and operational earnings posted strong double-digit growth. The wind energy major's quarterly profit stood at ₹1,114.35 crore, down from ₹1,182.22 crore in Q4 FY25, according to its stock exchange filing.
Quarterly Financial Highlights
Despite the year-on-year profit dip, Suzlon's sequential performance was striking — net profit surged nearly 150 per cent from ₹445.28 crore recorded in Q3 FY26 (December quarter). Revenue from operations climbed 45 per cent year-on-year to ₹5,468.06 crore in Q4 FY26, compared with ₹3,773.54 crore in the year-ago quarter. On a sequential basis, revenue rose 29.3 per cent from ₹4,228.18 crore in Q3 FY26.
The company's EBITDA for the March quarter came in at ₹964 crore, reflecting growth of 39 per cent year-on-year and 31 per cent quarter-on-quarter. EBITDA margin stood at 17.6 per cent, slightly lower than the 18.4 per cent recorded in Q4 FY25, though marginally ahead of the 17.5 per cent in Q3 FY26.
Full-Year FY26 Performance
For the full financial year 2025-26, Suzlon posted a 54 per cent jump in revenue to ₹16,679 crore, while annual net profit rose 53 per cent to ₹3,163 crore. Annual EBITDA climbed 63 per cent to ₹3,022 crore, with the full-year EBITDA margin improving to 18.1 per cent from 17.1 per cent in FY25. This marks one of the company's strongest annual performances in recent years, underscoring the accelerating demand for wind energy infrastructure in India.
Record Deliveries and Order Book
Suzlon said it achieved its highest-ever annual deliveries in India at 2,456 MW in FY26, alongside record quarterly deliveries of 830 MW in Q4. The company's order book stands at nearly 5.9 GW, with 66 per cent of orders sourced from the PSU and commercial and industrial (C&I) segments — a mix that analysts note provides relatively stable demand visibility.
The company's net cash position was reported at ₹2,384 crore as of 31 March 2026, signalling a healthy balance sheet even as capital expenditure scales up to meet delivery commitments.
What Management Said
Ajay Kapur, commenting on the results, said the record deliveries reflected strong execution across the business. 'We are happy to deliver the highest-ever India annual deliveries at nearly 2.5 GW in FY26, reflecting strong execution across the business. Our healthy orderbook of nearly 5.9 GW, with 66 per cent coming from PSU and C&I segments, continues to provide strong demand visibility for wind energy solutions,' Kapur said.
Market Reaction
Shares of Suzlon Energy ended 0.19 per cent higher at ₹53.88 on the Bombay Stock Exchange (BSE) on Monday, suggesting investors largely looked past the year-on-year profit dip in favour of the stronger revenue and delivery numbers. This comes amid a broader sectoral tailwind, as India accelerates its renewable energy capacity additions toward its 500 GW non-fossil target by 2030.
Point of View
45% revenue growth, and record deliveries tell a far more compelling story about execution velocity. The real question is margin sustainability — EBITDA margin at 17.6% is ticking down from 18.4% a year ago even as volumes scale, which suggests cost pressures are not fully absorbed. With 66% of a 5.9 GW order book locked in from PSU and C&I clients, revenue visibility is strong, but pricing discipline in a competitive wind market will determine whether FY27 margins recover or continue to compress.
NationPress
13 Aug 2026
Frequently Asked Questions
What was Suzlon Energy's net profit in Q4 FY26?
Suzlon Energy reported a consolidated net profit of ₹1,114.35 crore in Q4 FY26, a decline of 5.74 per cent compared to ₹1,182.22 crore in Q4 FY25. However, profit surged nearly 150 per cent sequentially from ₹445.28 crore in Q3 FY26.
How did Suzlon Energy's revenue perform in Q4 FY26?
Revenue from operations rose 45 per cent year-on-year to ₹5,468.06 crore in Q4 FY26, up from ₹3,773.54 crore in Q4 FY25. On a sequential basis, revenue grew 29.3 per cent from ₹4,228.18 crore in Q3 FY26.
What were Suzlon Energy's full-year FY26 results?
For the full year FY26, Suzlon reported revenue of ₹16,679 crore (up 54 per cent) and net profit of ₹3,163 crore (up 53 per cent). EBITDA for the year rose 63 per cent to ₹3,022 crore, with EBITDA margin improving to 18.1 per cent from 17.1 per cent in FY25.
What is Suzlon Energy's current order book?
Suzlon Energy's order book stands at nearly 5.9 GW, with 66 per cent of orders coming from PSU and commercial and industrial (C&I) segments. The company says this provides strong demand visibility for wind energy solutions going forward.
Did Suzlon Energy achieve any delivery milestones in FY26?
Yes, Suzlon achieved its highest-ever annual deliveries in India at 2,456 MW in FY26, along with record quarterly deliveries of 830 MW in Q4 FY26. The company's net cash position stood at ₹2,384 crore as of 31 March 2026.
