Highlights

• Suzlon Energy received buy ratings from several brokerages, with target prices ranging from ₹70 to ₹82.
• The company reported its highest-ever quarterly PAT of ₹1,279 crore in Q2 FY26.
• Suzlon’s orderbook expanded to 6.2 GW following significant additions in the first half of FY26.

Suzlon Energy (NSE:SUZLON) has attracted considerable attention from analysts after receiving multiple buy ratings accompanied by target prices across a defined range. This likely to be driven by the company’s latest reports in which reported its highest-ever quarterly profit after tax and continued growth in wind turbine deliveries, supported by an expanding order pipeline.

Analyst Ratings Provide Market Focus

Anand Rathi Securities Private Limited issued a buy rating on Suzlon Energy with a target price of ₹82, the highest among the latest brokerage outlooks. JM Financial Institutional Securities Limited and Investec Bank (UK) Plc both issued buy ratings with target prices of ₹70, while Motilal Oswal Securities Ltd. set its buy rating at ₹74. ICICI Securities Limited also issued a buy rating, placing its target price at ₹76.

The cluster of buy ratings outlines the current analyst stance on Suzlon Energy as the company moves through the mid-point of FY26 with expanded operational activity and significant financial performance.

Record Quarterly Earnings Mark Q2 FY26

Suzlon reported its highest-ever quarterly profit after tax, reaching ₹1,279 crore, marking a 538% year-on-year rise. The company recorded profit before tax of ₹562 crore, supported by reported additions to deferred tax assets during the quarter. Revenue increased by 85% to ₹3,866 crore, while EBITDA rose by 145% to ₹721 crore, underscoring the significant scale of quarterly activity.

India deliveries reached 565 MW, representing Suzlon’s highest-ever second-quarter performance. The wind turbine generator business continued to advance production volumes.

Orderbook Expansion and Market Activity

Suzlon’s orderbook crossed 6 GW, including more than 2 GW of additions in the first half of FY26, bringing the total orderbook to 6.2 GW. The company reported a net cash position of ₹1,480 crore as of 30 September 2025.

With manufacturing capacity of 4.5 GW, Suzlon maintains the largest domestic wind production capability in India. Policy updates introduced during the period included new ALMM procedures for wind and a reduction of GST on wind turbines from 12% to 5%, forming part of the wider industry landscape.

Industry Outlook Supported by Demand Expectations

Domestic demand projections indicate a target of 122 GW wind capacity by FY32, with the commercial and industrial sector expected to require around 100 GW of renewable energy by 2030. Annual installations are anticipated to exceed 6 GW this year, positioning the sector for continued expansion.

About Suzlon Energy

The Suzlon Group operates across 17 countries with more than 21 GW of wind capacity installed globally. Headquartered in Pune, the company has R&D centres in India and Europe and operates extensive manufacturing facilities across India. With an installed base of 15.4 GW in India and approximately 6 GW internationally, Suzlon offers wind turbines in the 2.x MW and 3.x MW categories and employs over 8,300 people.

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