Higher turbine deliveries lifted revenue, but margin pressure and rising costs weighed on profitability, sending Suzlon shares lower after the earnings announcement.
Wind energy solutions provider Suzlon Energy reported a 6 per cent year-on-year decline in consolidated net profit for the first quarter of FY27, as margin pressure offset strong growth in revenue and turbine deliveries. The earnings disappointed investors, with the company’s shares falling around 4 per cent after the results were announced.
For the quarter ended June 30, 2026, Suzlon posted a net profit of ₹3.05 billion, compared with ₹3.24 billion in the same quarter last year. Despite the decline in profit, the company recorded 22 per cent growth in revenue from operations, which increased to ₹38.19 billion from ₹31.23 billion a year earlier. The growth was driven by higher execution of wind energy projects and increased turbine deliveries.
Suzlon achieved its highest-ever first-quarter deliveries, supplying 506MW of wind power capacity during the quarter, up from 444MW in the corresponding period last year. The renewable energy solutions business remained the key contributor to revenue, supported by strong demand for wind energy installations across India.
However, operating profitability came under pressure. The company’s EBITDA remained nearly unchanged at ₹5.95 billion, while the EBITDA margin declined to 15.6 per cent from 19.2 per cent a year ago, indicating the impact of higher costs and changing project mix on earnings.
Despite the softer profitability, Suzlon maintained a positive outlook, citing a strong order book and continued momentum in India’s renewable energy sector. The company expects increasing investments in clean energy and government support for renewable power generation to sustain demand for wind energy projects in the coming quarters.
Market participants, however, remained cautious as the decline in profit and weaker margins overshadowed the company’s robust revenue growth and record deliveries. The results highlight Suzlon’s strong execution capabilities but also underscore the need to improve operational efficiency and protect margins as competition and input costs continue to rise in the rapidly expanding renewable energy market.
