Suzlon Energy's consolidated net profit dropped 69% year-on-year to Rs 394 crore for the September quarter, heavily skewed by an Rs 891 crore one-time deferred tax asset recorded in the prior-year period. Operational performance showed underlying strength with revenue rising 26% to Rs 4,869 crore, yet EBITDA margins narrowed from 18.6% to 14.8%. The stock has continued a difficult run, losing nearly 30% so far in 2026 despite maintaining a three-year gain of around 17%.
Key points
Margin compression from forex, commodity costs, and corporate expenses is currently overs…: Margin compression from forex, commodity costs, and corporate expenses is currently overshadowing the company's strong revenue execution.
Operational cash flows remain under pressure due to elevated receivables and rising inven…: Operational cash flows remain under pressure due to elevated receivables and rising inventory levels.
Analyst views remain split between concerns over cost normalisation and optimism surround…: Analyst views remain split between concerns over cost normalisation and optimism surrounding wind capacity additions and order backlogs.
Sources checked by our analysis pipeline: 1
Suzlon Energy announced its earnings in the post-market hours of Thursday, reporting a 69% year-on-year decline in consolidated net profit to Rs 394 crore for the September quarter, even as revenue increased 26% on record wind turbine deliveries. The sharp decline in reported profit was largely due to a high base in the year-ago quarter, when the renewable energy company recognised a one-time deferred tax asset benefit of Rs 891 crore. The shares of the company dropped to Rs 35.45 apiece in the early trading hours of Friday.
Also read | Suzlon Energy Q2 Results: Profit plunges 69% YoY to Rs 394 crore due to one-time deferred tax
Excluding this one-time item, Suzlon Energy's comparable profit after tax increased 1.3% from Rs 389 crore in the September quarter of FY26. Revenue from operations rose to Rs 4,869 crore from Rs 3,866 crore a year earlier, driven by higher wind turbine deliveries and improved project execution.
Suzlon Energy’s EBITDA remained nearly flat at Rs 720 crore, while the EBITDA margin contracted to 14.8% in Q2 FY27 from 18.6% in the corresponding…
Strong September-quarter financial recoveries driven by higher sales volumes and firmer price realisations triggered intense investor interest in key natural resource units. While energy-focused operations returned to profitability and posted steep double-digit stock advances, the rally failed to lift the parent conglomerate and its aluminium division.
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