Suzlon Energy FY26 revenue jumps 54% to Rs 16,679 crore
Suzlon Energy Limited reported strong growth in consolidated revenue and profitability for the financial year ended March 31, 2026, supported by higher execution in its wind turbine generator (WTG) business and increased operational scale. However, rising finance costs and higher working capital requirements continued to weigh on margins and cash flows.
Consolidated revenue from operations for FY26 increased 54% year-on-year (YoY) to Rs 16,679 crore from Rs 10,851 crore in FY25. Total income rose to Rs 16,842 crore, compared to Rs 10,993 crore in the previous fiscal year.
Consolidated net profit climbed to Rs 3,163 crore in FY26 from Rs 2,072 crore in FY25. Profit before tax increased to Rs 2,422 crore from Rs 1,447 crore a year earlier.
For the quarter ended March 31, 2026, consolidated revenue stood at Rs 5,468 crore, up 45% YoY from Rs 3,774 crore in Q4 FY25. Quarterly net profit declined marginally to Rs 1,114 crore from Rs 1,181 crore in the corresponding quarter last year despite higher revenue, indicating pressure from operating and finance costs. Sequentially, profit improved significantly from Rs 445 crore reported in Q3 FY26.
The WTG business remained the company’s main growth driver during the year. Segment revenue increased to Rs 14,040 crore in FY26 from Rs 8,481 crore in FY25, while segment profit more than doubled to Rs 1,854 crore from Rs 811 crore.
The operation and maintenance (O&M) services business continued to contribute stable earnings, generating revenue of Rs 2,484 crore and segment profit of Rs 759 crore during FY26.
Total expenses increased in line with higher execution activity. Raw material and component consumption rose to Rs 11,434 crore from Rs 7,139 crore in FY25. Finance costs nearly doubled to Rs 462 crore from Rs 255 crore, while employee benefit expenses increased to Rs 1,100 crore from Rs 942 crore.
The company’s FY26 performance was also supported by exceptional gains. On a consolidated basis, Suzlon recorded a Rs 70 crore gain related to the settlement of a contractual matter with a large customer. On a standalone basis, exceptional gains of Rs 1,178 crore were reported, mainly from reversal of impairment provisions and extinguishment of certain financial liabilities and assets.
During the year, the company implemented a National Company Law Tribunal (NCLT)-approved scheme of arrangement. Under the scheme, Suzlon adjusted a retained earnings debit balance of Rs 18,418 crore against available reserves and reclassified Rs 912 crore from general reserve to retained earnings, resulting in a significant balance sheet restructuring.
Despite improved profitability, working capital requirements increased sharply. Consolidated cash and cash equivalents stood at Rs 1,246 crore at the end of FY26, compared to Rs 1,113 crore a year earlier. Trade receivables rose to Rs 6,269 crore from Rs 3,866 crore, reflecting higher working capital deployment amid increased project execution.
Girish Tanti, Vice Chairman, Suzlon Group, said the growing focus on energy security and renewable energy was strengthening demand for wind energy and firm and dispatchable renewable energy (FDRE) solutions. He added that the company’s S144 platform has achieved around 9 GW of cumulative order intake, while the WTG business delivered a compound annual growth rate (CAGR) of 55% over the last three years.
Ajay Kapur, Chief Executive Officer (CEO), Suzlon Group, said the company achieved its highest-ever annual India deliveries of around 2.5 GW in FY26. He added that Suzlon’s order book of nearly 5.9 GW, with 66% contribution from public sector undertakings (PSUs) and commercial and industrial (C&I) customers, provides strong revenue visibility.
Rahul Jain, Chief Financial Officer (CFO), Suzlon Group, said the company delivered 67% growth in profit before tax while maintaining a healthy cash position of Rs 2,384 crore as of March 31, 2026, supporting its future growth plans.
