Revenue from operations increased 42% year-on-year to Rs 4,228 crore in Q3FY26, up from Rs 2,969 crore in the corresponding period last year. On a sequential basis, profit after tax declined 65% from Rs 1,279 crore reported in Q2FY26, while revenue rose 9% from Rs 3,866 crore in the July-September quarter. The company said the Q2 profit divergence was due to incremental deferred tax assets of Rs 717 crore, which had lifted net profit in that quarter.
Earnings before interest, taxes, depreciation and amortisation came in at Rs 739 crore in Q3FY26, up from Rs 500 crore in the year-ago period, marking a 48% rise. EBITDA margin improved to 17.5% in the October-December quarter, compared with 16.8% in the corresponding period last year.
Net volumes for the quarter stood at 617 MW, up from 447 MW a year earlier. The company reported a record order book of 6.4 GW and said its highest-ever quarterly deliveries reached 617 MW, with 2.4 GW execution underway. Suzlon also reported a net cash position of Rs 1,556 crore as of December 31, 2025.
The company said power demand is expected to nearly triple to 4,490 TWh by 2047, while renewables are projected to grow tenfold to 1,600 TWh. Within this, wind energy capacity is expected to expand at a 10% CAGR to 400 GW, compared with 5% growth in total power, according to the company filing.
Commenting on the earnings, Vice Chairman Girish Tanti said the company has initiated Suzlon 2.0, a business transformation strategy aimed at building a full-stack clean energy solutions platform.
“This strategic shift broadens our scope across wind, solar, storage, and emerging clean energy technologies, enabling us to offer integrated solutions to our customers. Key growth priorities under Suzlon 2.0 include launching DevCo as a standalone FDRE project development vertical, transforming OMS into a digital-first platform, setting up smart manufacturing facilities, and capitalising on global opportunities. Our recognition as one of the world’s top 10 most sustainable companies underscores the success of this direction. As electric mobility gains traction, AI capacity expands, and industrial decarbonisation accelerates, the green transition is gaining significant momentum,” Tanti said.
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