Suzlon Energy Q4 FY26 Earnings Call Transcript Released
Suzlon Energy released its Q4 FY26 earnings call transcript. The company achieved its 60% growth commitment for FY26, with EBITDA up 63% and revenue up 54% to ₹16,679 crore. The PIA with Andhra Pradesh was extended, granting 2.1 GW development rights. Management expects continued strong demand and growth in FY27.
The announcement details strong financial performance, achievement of strategic goals, and positive future outlook, including significant project development rights. This information is material for investors and stakeholders, indicating robust business momentum and growth potential.
The company met its growth commitments, reported strong financial performance with significant year-on-year increases in revenue and EBITDA, and highlighted positive developments like the extension of the AP PIA and a strong order book. Management expressed confidence in future growth.
Suzlon Energy Limited has released the transcript of its Q4 FY26 Earnings Conference Call, which took place on May 25, 2026. The call featured insights from J.P. Chalasani (Group Executive Counsel), Ajay Kapur (Group CEO), and Rahul Jain (Group CFO).
During the call, management highlighted the achievement of a 60% growth commitment for FY26, with EBITDA increasing by 63%, Profit Before Tax (consolidated) by 67%, and WTG revenue by 65%. They also noted that the EBITDA for the OMS business, which had seen a dip, was expected to be recouped by year-end, reaching 40.5%. The company reiterated its commitment to increasing EPC order share in its order book to 50% by FY28, having progressed from 20% in Q2 to 28% currently.
Significant developments included the extension of the Project Implementation Agreement (PIA) with the Government of Andhra Pradesh by another two years, granting developmental rights for 2.1 gigawatts. Out of this, 775-megawatt is under PPA for tariff fixation, with plans to convert it to FDRE. The remaining 1,325-megawatt is expected to be monetized from June onwards.
Ajay Kapur, newly appointed Group CEO, emphasized the strong start to FY27 with power demand growing 5-6% and peak demand exceeding 270 gigawatts. He noted that FY26 was a defining year for the wind sector with installations crossing 6 gigawatts, the highest since 2017. Suzlon recorded record deliveries of 830 megawatts in Q4 and 2,456 megawatts in FY26, with revenues reaching ₹16,679 crores, a 54% year-on-year growth. The order book stands at 5.9 gigawatts, with 66% from the C&I and PSU segments. The company also launched its Blue Sky platform in Spain, marking a reentry into European and other export markets with its S175 and S163 turbines.
Financially, for Q4 FY26, consolidated revenue was ₹5,468 crores, with EBITDA at ₹964 crores (39% YoY growth), PBT at ₹833 crores, and PAT at ₹1,114 crores. For the full year FY26, revenues grew to ₹16,679 crores (54% YoY), consolidated EBITDA increased to ₹3,022 crores (63% YoY growth) with an EBITDA margin of 18.1%, and PAT improved to ₹3,153 crores. The consolidated net worth stood at ₹9,464 crores, and net cash balance was ₹2,384 crores.
Discussions also covered the increasing EPC order book, the shift towards turnkey EPC contracts, the potential impact of the Deviation Settlement Mechanism (DSM) tightening, and the company's strategy for European markets. Management expressed confidence in maintaining margins despite currency fluctuations, citing cost management, R&D, supply diversification, and the 'Make in India' initiative. An arbitration matter settlement favoring SE Forge was also mentioned.
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Suzlon Energy Limited filed this with the NSE as a statutory disclosure, categorised under concall transcript released. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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