Suzlon hits record wind deliveries as net cash climbs to ₹2,384 cr
The turbine maker delivered 2,456 MW in FY26, pushing consolidated revenue up 54% to ₹16,679 crore.
What's new
- Revenue grew 54% YoY to ₹16,679 crore on record deliveries of 2,456 MW.
- Profit before tax rose 67% to ₹2,422 crore.
- The company ended the year with a net cash position of ₹2,384 crore.
Why this matters
Suzlon has successfully transitioned from a debt-heavy turnaround story to a cash-positive operator with a substantial order book. The reliance on C&I and public sector clients for 66% of its 5.9 GW backlog provides a stable foundation for future revenue.
What we're watching
- Sustainability of the 2,456 MW delivery pace in FY27.
- Impact of the deferred tax credit on future tax liabilities.
- Conversion rate of the 5.9 GW order book into realized revenue.
The full read
Suzlon Energy closed FY26 with ₹16,679 crore in consolidated revenue, a 54% jump over the previous year. The performance is anchored by record annual wind turbine deliveries of 2,456 MW in India. Profit before tax climbed 67% to ₹2,422 crore, while net profit reached ₹3,163 crore, aided by a deferred tax credit. Most notably, the company has reached a net cash position of ₹2,384 crore. With an order book of 5.9 GW—66% of which is tied to public sector and commercial & industrial clients—the company has moved past its period of acute financial distress. The scale of the current order book suggests the current delivery momentum is sustainable, provided the company manages its execution pipeline effectively. The shift to a net cash position is the most critical development here. It provides the balance sheet flexibility to pursue larger projects without the drag of high interest costs. This is a clean turnaround.
Questions answered
- What drove the 54% revenue growth in FY26?
- The growth was primarily fueled by record-high annual wind turbine deliveries of 2,456 MW within India.
- How does the company's current cash position look?
- Suzlon ended the fiscal year in a net cash position of ₹2,384 crore, a significant shift from its historical debt profile.
- What is the composition of the current order book?
- The company holds an order book of 5.9 GW, with 66% of those contracts coming from public sector and commercial & industrial customers.
- Did the net profit figure include any one-off items?
- The net profit of ₹3,163 crore was partially bolstered by a deferred tax credit.