Suzlon Energy reported a 69 per cent year-on-year decline in consolidated net profit to ₹394 crore for the September quarter of FY27, while revenue rose 26 per cent to ₹4,869 crore as the renewable-energy company delivered a record 710 MW in India.
The reported profit decline was largely linked to a high base in the year-ago quarter, when Suzlon recognised a deferred tax asset of ₹891 crore. Reported net profit in the September quarter of FY26 was ₹1,279 crore. Excluding the impact of that tax adjustment, comparable net profit rose 1.3 per cent year-on-year from ₹389 crore to ₹394 crore, according to the company’s earnings release.
Suzlon’s earnings before interest, taxes, depreciation and amortisation stood at ₹720 crore in the latest quarter, broadly unchanged from ₹721 crore a year earlier. However, the EBITDA margin declined to 15 per cent from 19 per cent, indicating that higher revenue did not translate into an improvement in operating profitability during the period.
The company said India deliveries increased 26 per cent from 565 MW in the year-ago quarter to 710 MW. During the first half of FY27, Suzlon commissioned 723 MW of projects involving Juniper Green Energy, Aditya Birla Renewables, Zelestra, Brookfield and Yanara.
Suzlon’s order book exceeded 6 GW, while order intake during the first half of FY27 crossed 1.5 GW. The figures provide a snapshot of the project pipeline supporting India’s renewable-energy build-out, while the delivery numbers indicate the pace at which contracted capacity is being executed.
“Our record Q2 deliveries of 710 MW and strong commissioning of 454 MW reflect stronger execution and are driving revenue growth,” Ajay Kapur, chief executive officer of Suzlon Group, said in the company’s statement.
The company also said its net worth had crossed ₹10,000 crore and that CRISIL had upgraded its long-term rating to AA-/Stable. These developments were reported alongside the quarterly results and relate to Suzlon’s balance-sheet position and credit profile.
Separately, Suzlon’s board approved the acquisition of 100 per cent of Suzlon Foundation for ₹10 lakh. The Section 8 not-for-profit company, incorporated in 2007, undertakes welfare and charitable activities. Suzlon said the transaction would allow it to manage and scale its corporate social responsibility initiatives, with the company and the wider group continuing to route CSR spending through the foundation. The acquisition is expected to be completed by the first week of November.
The board also approved an investment of approximately ₹1 crore in OE Business Park Pvt Ltd. Suzlon expects to hold about 99 per cent of the entity’s equity in the third quarter of FY27. The special-purpose vehicle holds the company’s One Earth corporate headquarters in Pune.
Suzlon sold the property to OE Business Park in September 2024 and leased it back for five years, while retaining call options that could allow it to reacquire an economic interest. The proposed investment follows the exercise of those options and is intended to enable Suzlon to hold the One Earth premises through the property-owning entity.
