Highlights

• Suzlon Energy’s Q3 FY26 revenue rose 42% YoY to ₹4,228 crore on higher turbine deliveries.
• EBITDA increased 48% YoY to ₹739 crore, with margin improving to 17.5%.
• Profit before tax climbed 45% YoY to ₹567 crore in Q3 FY26.
• Net profit fell 65.20% QoQ to ₹445 crore from ₹1,279 crore in Q2 FY26.
• Nine-month FY26 revenue surged 58% YoY to ₹11,211 crore.
• Wind sector data projects India’s wind capacity reaching 400 GW by 2047.

Suzlon Energy Ltd (NSE:SUZLON) shares slipped 0.79% to ₹47.47 during the afternoon session on 6 February 2026, extending the stock’s one-year decline to 13.57%. The latest movement came despite the company reporting higher revenue, operating earnings, and profit before tax for Q3 FY26 and the nine months ended 31 December 2025, placing the financial update under close investor scrutiny.

Q3 FY26 Consolidated Statements Shows Year-on-Year Earnings Expansion

For the quarter ended December 2025, Suzlon reported net revenue of ₹4,228 crore, marking a 42% increase compared with ₹2,969 crore in Q3 FY25. EBITDA rose 48% year-on-year to ₹739 crore, up from ₹500 crore in the corresponding period last year, while EBITDA margin improved to 17.5% from 16.8%.

Profit before tax increased to ₹567 crore in Q3 FY26, compared with ₹392 crore a year earlier, reflecting a 45% year-on-year rise. Net profit after tax stood at ₹445 crore, higher than ₹388 crore in Q3 FY25, though lower sequentially compared with ₹1,279 crore reported in Q2 FY26.

Operationally, quarterly net deliveries increased to 617 MW, up from 447 MW in Q3 FY25.

However, the company’s profit after tax fell to ₹445 crore in Q3 FY26 from ₹1279 crore in Q2 FY26, reflecting a quarterly decline of 65.20%.

Nine-Month FY26 Consolidated Performance Highlights Scale-Up

For the nine months ended 31 December 2025, Suzlon recorded net revenue of ₹11,211 crore, representing a 58% increase over ₹7,078 crore in 9M FY25. EBITDA for the period rose 77% year-on-year to ₹2,058 crore, compared with ₹1,164 crore previously, with EBITDA margin expanding to 18.4%.

Profit before tax reached ₹1,589 crore, up from ₹895 crore in the prior-year period, while net profit increased to ₹2,049 crore from ₹891 crore. Net deliveries during the nine-month period rose to 1,625 MW, compared with 977 MW in 9M FY25. 

Balance Sheet and Execution Visibility

As of 31 December 2025, Suzlon reported a net cash position of ₹1,556 crore. The company also disclosed a record order book of 6.4 GW, with approximately 2.4 GW under execution, providing visibility on near-term project activity.

Sector Demand Remains in Investor Focus

Company-provided industry data indicates India’s power demand is projected to rise from 1,600 TWh in 2025 to 4,490 TWh by 2047. Renewable energy capacity is expected to grow nearly tenfold to 1,600 GW, while wind capacity is projected to increase to 400 GW, implying a 10% CAGR compared with 5% growth in overall power demand.

The material also outlined policy initiatives, grid-balancing requirements, offshore wind support, and manufacturing-linked incentives as key structural drivers influencing wind energy deployment over the long term.

Frequently Asked Questions (FAQ)

What were Suzlon Energy’s key financial results in Q3 FY26?

Suzlon reported net revenue of ₹4,228 crore, EBITDA of ₹739 crore, and profit before tax of ₹567 crore for the quarter ended December 2025.

How did Suzlon perform over the nine months of FY26?

For the nine months ended 31 December 2025, revenue reached ₹11,211 crore, EBITDA rose to ₹2,058 crore, and net profit increased to ₹2,049 crore.

What operational progress did Suzlon report during FY26?

Net deliveries reached 617 MW in Q3 FY26 and 1,625 MW over nine months, while the order book stood at 6.4 GW with ongoing project execution.

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