Suzlon Energy: Check Q3 Results, Revenue Segments, Order Book and More

Synopsis: Suzlon Energy Limited reports 42.42% YoY revenue growth and a 64.20% QoQ surge in net profit in Q3 FY26 results.

This Green Energy Stock, engaged in designing, manufacturing wind turbines, developing wind farms, and providing renewable energy solutions globally, is down by 5.38 percent after the company reported December quarterly results with a 64.20 percent YoY decrease in net profit.

With a market capitalization of Rs. 65,917.60 crores, the share of Suzlon Energy Limited has reached an intraday low of Rs. 47.10 per equity share, down nearly 5.38 percent from its previous day’s close price of Rs. 49.78. Since then, the stock has retreated and is currently trading at Rs. 48.03 per equity share. 

Q3 FY26 Result Walkthrough:

Coming into the quarterly results of Suzlon Energy Limited, the company’s consolidated revenue from operations increased by 42.42 percent YOY, from Rs. 2,968.81 crore in Q3 FY25 to Rs. 4,228.18 crore in Q3 FY26, and grew by 9.38 percent QoQ from Rs. 3,865.54 crore in Q2 FY26.

In Q3 FY26, Suzlon Energy Limited’s consolidated net profit increased by 14.83 percent YOY, reaching Rs. 445.28 crore compared to Rs. 387.76 crore during the same period last year. As compared to Q2 FY26, the net profit has decreased by 64.20 percent, from Rs. 1,279.44 crore.

The basic earnings per share increased by 14.29 percent and stood at Rs. 0.32 as against Rs. 0.28 recorded in the same quarter in the previous year, FY2025. Suzlon Energy Limited’s revenue and net profit have grown at a CAGR of 34.32 percent and 111.27 percent, respectively, over the last four years.

In terms of return ratios, the company’s ROCE and ROE stand at 32.5 percent and 41.40 percent, respectively. Suzlon Energy Limited has an earnings per share (EPS) of Rs. 2.34, and its debt-to-equity ratio is 0.05x.

Impact of Deferred Tax on Profit:

Suzlon Energy Limited’s profit was impacted by a deferred tax of Rs. 119.17 crore during the period. Because of this tax charge, the reported net profit stood at Rs. 445.28 crore. If deferred tax had not been applied, the company’s profit would have been around Rs. 564.45 crore. This shows how accounting tax adjustments can materially reduce reported earnings even though they do not affect immediate cash flow.

Suzlon Energy Limited reported total segment revenue of Rs. 4,355.66 crore for the period. The Wind Turbine Generator segment contributed the largest share at Rs. 3,563.35 crore, accounting for about 81.81 percent of total revenue. Operation and Maintenance services added Rs. 629.22 crore, contributing nearly 14.45 percent, showing strong support income from service operations.

Meanwhile, the Foundry & Forging segment generated Rs. 161.42 crore, representing about 3.71 percent of total revenue. Other segments contributed a smaller Rs. 1.67 crore, or 0.04 percent. The revenue mix highlights the company’s heavy reliance on its core wind turbine business, while service and industrial segments provide additional diversification.

Suzlon Energy Limited’s wind order book has strengthened steadily, rising from 2,929 MW in March 2024 to 6,160 MW in December 2025, reaching 6,409 MW by January 2026. The project mix is well diversified, with 51 percent coming from captive and commercial & industrial clients, 36 percent from central and state auctions, and 13 percent from PSU projects, reflecting strong demand across segments.

Suzlon Energy Limited serves a wide global client base, including Adani Group, ACC, Tata, NTPC Renewables, ONGC, Brookfield, Enel Green Power, Jindal Renewables, ReNew Power, Sembcorp, Vedanta, Greenko, Hero Future Energies, and ArcelorMittal, reflecting strong partnerships across industrial, utility, and renewable energy leaders worldwide.

Suzlon has a strong presence across India’s major wind energy states, with an installed base of about 15.5 GW as of December 2025. Gujarat leads with 4.4 GW, followed by Tamil Nadu at 2.8 GW and Rajasthan at 2.3 GW. Maharashtra contributes 2.2 GW, Andhra Pradesh 1.6 GW, and Karnataka 1.5 GW. Smaller capacities are installed in Madhya Pradesh, Telangana, and Kerala, highlighting Suzlon’s nationwide wind footprint.

Suzlon Energy Limited was founded in 1995 and is headquartered in Pune, India. The company is a leading renewable energy company focused on wind power solutions worldwide. It designs, manufactures, and supplies wind turbine generators suited to diverse wind conditions. 

The company provides end-to-end services, including project development, installation, commissioning, operations, and maintenance of wind farms across multiple countries. It also explores solar and hybrid wind-solar systems to support the global transition to green power, powering industries and communities with efficient turbines that reduce reliance on fossil fuels.

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