Suzlon Energy Reports 26% Revenue Growth in Q2 FY27
Suzlon Energy's Q2 FY27 results show a significant revenue increase driven by record wind turbine deliveries.
Revenue rose 26% year-on-year to ₹4,869 crore, with deliveries hitting 710 MW.
Net profit increased by 1.3% to ₹394 crore, excluding previous tax adjustments.
Suzlon's order book exceeds 6 GW, reflecting strong demand and project execution.
Suzlon Energy Ltd has announced a remarkable 26% year-on-year growth in revenue for the second quarter of FY27, reaching ₹4,869 crore. This surge is attributed to record deliveries of 710 MW of wind energy capacity, marking a significant achievement for the company. The net profit after tax also saw a modest increase of 1.3%, amounting to ₹394 crore, when compared to the previous year, although this figure excludes a one-time deferred tax asset from the same quarter last year.
In the previous quarter, Suzlon reported a revenue of ₹3,819 crore, indicating a sequential increase. The net profit also rose from ₹305 crore in Q1 FY27. However, the EBITDA remained relatively stable at ₹720 crore, with a slight contraction in the EBITDA margin from 18.6% to 14.8%. The profit before tax decreased to ₹518 crore from ₹562 crore, reflecting some challenges despite the overall growth.
Suzlon's installed wind capacity has now surpassed 22 GW globally, positioning it among the largest players in the wind energy sector. The company boasts an order book exceeding 6 GW, with more than 1.5 GW of new orders secured in the first half of FY27. Notably, orders led by DevCo constituted over 70% of this intake, emphasizing the company's strong market presence. The engineering, procurement, and construction (EPC) segment contributed 38% to the total order book, with aspirations to increase this share to 50% by FY28.
The company also reported a significant milestone, with its net worth exceeding ₹10,000 crore and a long-term rating upgrade to CRISIL AA-/Stable. Girish Tanti, Vice Chairman and Co-founder of Suzlon Group, highlighted the company's strategic shift towards becoming a comprehensive renewable energy solutions provider, aiming to support India's goal of achieving 100 GW of wind energy by 2030.
In a separate development, Suzlon Energy has decided to acquire 100% equity shares of Suzlon Foundation Limited, facilitating its transition into a wholly owned subsidiary. This acquisition is valued at ₹10 lakh. Following the earnings announcement, Suzlon Energy's shares closed at ₹36.79 on the BSE, reflecting a 1.45% decline on the day.
