Suzlon Energy Q3 Results: Profit jumps 15%, revenue zooms 42%; shares under stress

Suzlon Energy Q3 Results: Suzlon Energy reported a strong operational performance in the December quarter, with sharp growth in revenue, EBITDA and project deliveries, supported by higher execution and an improving order book. However, the stock remained under pressure in trade on Wednesday. Suzlon Energy shares slipped in trade even after the company reported a near 15 per cent rise in consolidated net profit for the December quarter.

Q3 profit rises, revenue sees sharp jump

The renewable energy solutions provider reported a consolidated net profit of Rs 445.28 crore for the third quarter ended December 31, 2025. This was a growth of 14.83 per cent compared with Rs 387.76 crore in the same quarter last year, as per its regulatory filing.

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Revenue from operations surged 42.42 per cent year-on-year to Rs 4,228.18 crore, up from Rs 2,968.81 crore in the year-ago period. The growth was driven by higher project execution and record turbine deliveries during the quarter.

EBITDA growth outpaces revenue

Operating performance remained strong. EBITDA for the quarter stood at Rs 739 crore, compared with Rs 500 crore in Q3 FY25. This marked a growth of nearly 48 per cent year-on-year.

EBITDA margin improved to 17.5 per cent from 16.8 per cent in the corresponding quarter last year, reflecting better operating leverage and execution efficiency.

Record quarterly deliveries, projects under execution

Suzlon reported its highest-ever quarterly deliveries of 617 megawatts, highlighting a sharp pickup in execution momentum. The company said projects with a total capacity of 2.4 gigawatts are currently under execution.

The strong execution came despite supply chain challenges seen across the renewable energy sector, the company said in its presentation.

Order book strengthens despite high deliveries

The company closed the quarter with an order book of 6.4 gigawatts, which was higher than the opening order book for the quarter, even after record deliveries.

Management said this reflects sustained demand for its wind energy solutions and improved execution capability. Suzlon also said its project development pipeline stands at over 25 gigawatts, which is expected to support future growth and provide better revenue visibility.

Balance sheet remains strong

Suzlon reported a net cash position of Rs 1,556 crore as of December 31, 2025. The strong cash position provides flexibility for execution, working capital needs and future growth initiatives.

Outlook remains positive on renewables

On the outlook, Suzlon said power demand is expected to nearly triple to 4,490 terawatt hours in the coming years. Renewable energy is projected to grow tenfold to around 1,600 terawatt hours.

Wind power capacity is expected to grow at a compound annual growth rate of about 10 per cent, reaching 400 gigawatts, compared with overall power demand growth of around 5 per cent.

JP Chalasani, chief executive officer of the Suzlon Group, said the company’s balanced EPC strategy is progressing steadily. He added that EPC share has increased from 20 per cent to 27 per cent during the quarter, with a target of around 50 per cent by 2028. According to management, this shift is improving project control and enhancing revenue visibility.

Stock under pressure

Despite the strong quarterly performance, Suzlon Energy shares were trading lower. The stock was at Rs 47.81, down Rs 1.96, or 3.94 per cent, around 2:43 pm on Tuesday, as investors booked profits after the recent rally.