Outcome of the Board Meeting dated 4th November 2025
SUZLON · price
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Awaiting price reaction for this filing.
Suzlon Energy reported its highest-ever Q2 consolidated profit after tax of ₹1,279 Cr, up 538% year-on-year, on revenue from operations of ₹3,866 Cr, which grew 85% YoY from ₹2,093 Cr. Consolidated EBITDA rose 145% to ₹721 Cr with margin expanding to 18.6% from 14.1%, while profit before tax grew 179% to ₹562 Cr. The sharp jump in PAT was largely driven by a one-time deferred tax credit of ₹717 Cr recognized in the quarter. The company delivered its highest-ever Q2 India volumes at 565 MW, the order book crossed 6.2 GW, and the balance sheet remained net cash positive at ₹1,480 Cr. The board also noted the merger of Suzlon Global Services Limited becoming effective May 10, 2025, and a fresh SEBI show cause notice (management views no material impact), while results have been restated for the prior year to reflect the merger.
Headline numbers are strong and likely to support a positive short-term stock reaction, but investors should note that the bulk of the PAT surge is a non-cash deferred tax credit rather than recurring operating earnings. Operating cash flow for H1 FY26 fell sharply to ₹86 Cr (consolidated) from ₹478 Cr a year ago, reflecting working capital build-up, which warrants monitoring.