Full Year FY26 Performance of Suzlon Energy
The full-year picture is where the scale of what Suzlon has built over the past few years becomes clearest. Revenue from operations for FY26 grew 53.7% to ₹16,679.11 crore from ₹10,851.32 crore in FY25. Total income for the year stood at ₹16,841.78 crore, up 53.2% from ₹10,993.13 crore in FY25. The WTG segment is now running at a 55% CAGR over three years, crossing ₹14,000 crore in annual revenues, a number that would have seemed ambitious not long ago.
Total expenses for FY26 came in at ₹14,490.06 crore against ₹9,546.50 crore in FY25, which tracks reasonably well given the significant increase in volumes and project execution.
Profit before tax came in at ₹2,421.72 crore, a 67% increase over FY25's ₹1,446.63 crore. EBITDA margin for the full year improved by 100 basis points, driven by operating leverage in the WTG segment as volumes scaled up.
Net profit for FY26 stood at ₹3,171.40 crore, up 54.8% from ₹2,048.30 crore in FY25. That kind of earnings growth, delivered alongside a near-doubling of revenues over two years, reflects both the wind sector tailwind and Suzlon's improving cost structure.
Recent Developments of Suzlon Energy
Suzlon recently secured a repeat order of 195 MW from Sunsure Energy, a company focused on firm and dispatchable renewable power solutions. The order covers the supply of 65 units of its S144 WTGs, each rated at 3.0 MW, to be set up in Bijapur District, Karnataka. Beyond the turbine supply, Suzlon will manage the full project scope: erection, commissioning, and ongoing O&M after the project goes live.
What makes this order notable is the repeat nature of it. Suzlon and Sunsure now have a cumulative working relationship of approximately 300 MW across Maharashtra and Karnataka, and both sides have indicated the partnership is expected to grow. With this order, cumulative sales from Suzlon's 3 MW platform have touched approximately 9 GW, a scale that underlines just how widely the S144 has been adopted.
Karnataka has now emerged as Suzlon's largest state by order book, crossing the 2 GW mark alongside Gujarat, Tamil Nadu, Rajasthan, and Maharashtra. The state's installed base for Suzlon currently stands at 1,500 MW, which accounts for 24% of the company's total installed base in South India. Suzlon is also executing other large C&I projects in Karnataka with a combined capacity of 664 MW.
The company's total order book as of May 2026 stands at approximately 5,892 MW — up from 5,697 MW in March 2026, 5,025 MW in March 2025, and 2,929 MW in March 2024. The composition is well spread: 51% from captive, C&I, and retail customers; 34% from central and state auctions; and 15% from PSUs. The S144 platform dominates the mix at 88%, and EPC projects now make up 28% of the book, a rising share that Suzlon has flagged as a key competitive lever.
Management Commentary of Suzlon Energy
Girish Tanti, Vice Chairman, Suzlon Group, said: "The world has entered the age of electricity where energy security is accelerating the shift towards renewables driven by domestic energy availability. At the same time, India is witnessing strong peak power demand growth, increasing the strategic importance of wind energy in enabling reliable FDRE solutions. In alignment with these structural shifts, we have significantly strengthened our financial position to prepare for the next phase of growth. Our flagship S144 platform has already achieved ~9 GW of cumulative order intake and the WTG business has delivered 55% CAGR growth over the last three years. Together, these factors position Suzlon strongly to capitalise on the large market opportunity ahead."
Ajay Kapur, Chief Executive Officer, Suzlon Group, said: "We are happy to deliver highest-ever India annual deliveries at ~2.5 GW in FY26, showing strong execution across the business. Our healthy orderbook of ~5.9 GW with 66% coming from PSU and C&I segment, we continue to see strong demand for wind energy solutions. Our current orderbook provides strong revenue visibility with execution ramp-up expected over the next few quarters."
Rahul Jain, Chief Financial Officer, Suzlon Group, said: "Our strong balance sheet and consistent quarterly performance continue to reinforce stakeholder and market confidence in Suzlon's growth journey. In FY26, we delivered a 67% growth in Profit Before Tax while maintaining a healthy cash position of ₹2,384 crore as of 31st March 2026. This strong financial position provides us with adequate flexibility to confidently pursue our growth journey."
About Suzlon Energy
Suzlon Energy Ltd is one of India's largest renewable energy solutions providers, built almost entirely around wind. The company makes wind turbine generators, handles end-to-end project execution, and stays involved through long-term operations and maintenance contracts after commissioning. Its S144 platform, now at approximately 9 GW of cumulative order intake, has become the product of choice for a wide range of customers — from large public sector buyers and government auction winners to commercial, industrial, and retail consumers spread across multiple states.
