Suzlon Energy Q2 FY26 Results: PAT soars 538% YoY to Rs 1,279 crore, highest in 30 years; revenue jumps 85%

Suzlon Energy Q2 FY26 Results: PAT soars 538% YoY to Rs 1,279 crore, highest in 30 years; revenue jumps 85%

Suzlon Energy, an Indian renewable energy solutions provider, reported a record-breaking performance for Q2 FY26, with consolidated Profit After Tax (PAT) surging 538% year-on-year to Rs 1,279 crore, marking its highest quarterly profit in 30 years. This significant growth was accompanied by an 85% increase in revenue from operations.

Key Takeaways

• Profit After Tax (PAT) reached a 30-year high of Rs 1,279 crore, driven by a substantial 538% year-on-year increase.
• Revenue from operations jumped 85% year-on-year to Rs 3,866 crore, supported by strong performance in the wind turbine generator (WTG) segment and higher deliveries within India.
• EBITDA grew 145% year-on-year to Rs 721 crore, while Profit Before Tax (PBT) increased 179% year-on-year to Rs 562 crore.
• The company recorded its highest-ever Q2 deliveries in India at 565 MW and has a total orderbook exceeding 6 GW, signaling robust future prospects in the Indian renewable energy sector.
• Net cash stood at Rs 1,480 crore as of September 30, 2025, reflecting a strengthened financial position.

Company Overview

Suzlon Energy operates as a prominent renewable energy solutions provider, headquartered in India. The company has solidified its position as India’s largest domestic wind manufacturing company, boasting an impressive installed capacity of 4.5 GW. During Q2 FY26, Suzlon Energy achieved a remarkable milestone, recording its highest quarterly profit in three decades. Operationally, the period was also strong, with the company delivering its highest-ever Q2 output in India, totaling 565 MW. Furthermore, Suzlon's total orderbook has expanded significantly, crossing the 6 GW mark, with more than 2 GW added in the first half of FY26, bringing the cumulative figure to 6.2 GW.

Market Analysis

The reported 85% year-on-year jump in revenue can be attributed to a robust performance within the wind turbine generator (WTG) segment and a higher volume of deliveries. This indicates a strong and growing market demand for wind energy solutions, particularly within India. Suzlon's reaffirmed position as India’s largest domestic wind manufacturing company, with a 4.5 GW capacity, underscores its substantial market share and significant influence in the country's renewable energy landscape. The total orderbook, now exceeding 6 GW, suggests a healthy pipeline of future projects and points towards sustained demand for the company's wind energy solutions in the coming periods.

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Valuation Analysis

Following the announcement of these results during market hours, Suzlon Energy's stock experienced an upward movement, trading 1.1% higher at Rs 60.09 on the NSE. However, specific valuation metrics such as the Price-to-Earnings (P/E) ratio, Price-to-Book (P/B) ratio, or Enterprise Value to EBITDA (EV/EBITDA) were not disclosed in the provided material, preventing a detailed comparative valuation at this time.

Risk Assessment

A significant factor contributing to the sharp increase in Profit After Tax (PAT) was the recognition of Rs 717 crore in incremental deferred tax assets. This particular item might be a non-recurring event, which could influence the reported profit figures for the quarter and warrant careful consideration when assessing the company's underlying operational profitability. No specific regulatory, liquidity, or execution risks were detailed within the provided factual materials, making it difficult to assess potential external or internal operational challenges.

Investment Perspective

The record-breaking Profit After Tax (PAT), coupled with significant revenue growth and strong operational performance reflected in high deliveries and a robust orderbook, presents a generally positive outlook for Suzlon Energy. The company's financial health also appears to have strengthened, indicated by an increase in net cash to Rs 1,480 crore as of September 30, 2025. Investors should carefully analyze the contribution of the deferred tax asset recognition to the reported PAT to gain a clearer understanding of the underlying operational profitability and its sustainability.

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Sources

• Suzlon Energy Q2 FY26 Results: PAT soars 538% YoY to Rs 1,279 crore, highest in 30 years; revenue jumps 85% (economictimes.indiatimes.com; date visible on page) — https://economictimes.indiatimes.com/markets/stocks/earnings/suzlon-energy-q2-results-pat-soars-538-yoy-to-rs-1279-crore-highest-in-30-years-revenue-jumps-85/articleshow/125076590.cms

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