Manufactures and sells wind turbine generators for onshore wind power projects, and runs lifetime operation-and-maintenance service on the installed fleet. The Wind Turbine Generator segment dominates, contributing 82.0% of FY26 segment revenue at Rs 14,040.19 crore, while Operation & Maintenance Service adds 14.5% (Rs 2,483.85 crore) by servicing turbines already in the field. A small Foundry & Forging unit makes castings and forgings used in turbine production, at 3.5% of revenue (Rs 596.49 crore). Management describes the business as an integrated model combining equipment supply, a manufacturing footprint, a supply chain and a service network, which brings in recurring revenue from the serviced fleet. Materials are the largest cost at 68.3% of revenue, making margins sensitive to commodity prices, while employees account for 6.6% and other opex 10.8%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Wind Turbine Generator (82%), Operation & Maintenance Service (15%), Foundry & Forging (4%), Others (0%). Cyclical, capital-goods wind turbine OEM with a recurring installed-base service annuity and a small captive foundry.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 6,582 | 5,971 | 6,529 | 10,890 | 16,732 |
| EBITDA (ex other income) | 973 | 3,553 | 975 | 1,857 | 3,092 |
| margin % | 14.8 | 59.5 | 14.9 | 17.1 | 18.5 |
| Owners' profit | (200) | 2,849 | 660 | 2,072 | 3,163 |
| EPS, as reported (₹) | (0.22) | 2.64 | 0.50 | 1.52 | 2.31 |
| ROE % · ROCE % | 5.0 · 32.8 | 262.7 · 117.4 | 16.8 · 19.8 | 33.9 · 24.2 | 33.4 · 27.0 |
| Debt / equity (x) | (1.79) | 1.73 | 0.03 | 0.05 | 0.03 |
| Cash from operations | 1,302 | 467 | 33 | 1,092 | 1,202 |
| Capex | (77) | (101) | (227) | (371) | (577) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,103 | 2,975 | 3,790 | 3,132 | 3,871 | 4,236 | 5,493 | 3,829 |
| Profit before tax | 202 | 391 | 551 | 459 | 563 | 567 | 833 | 389 |
| Net profit | 201 | 388 | 1,181 | 324 | 1,279 | 445 | 1,114 | 305 |
| EPS (₹) | 0.15 | 0.28 | 0.87 | 0.24 | 0.93 | 0.32 | 0.81 | 0.22 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Wind Turbine Generator | 14,040 | 82.0 |
| Foundry & Forging | 596 | 3.5 |
| Operation & Maintenance Service | 1,909 | 11.1 |
| Others | 8 | 0.0 |
| Operation & Maintenance Services | 575 | 3.4 |
| Total, before eliminations | 17,128 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Suzlon AGM: All 3 resolutions pass; 21% dissent on Vinod Tanti re-appointment | board shareholder meetings | medium | — | — |
| 8 Sept 2026 · Suzlon wins 200 MW wind energy order from Ayana Renewable Power | business updates | high | — | — |
| 4 Sept 2026 · Suzlon appoints Manjari Upadhye as President of RE Asset Management Services | management changes | medium | — | — |
| 25 Aug 2026 · Suzlon wins 250 MW order from Torrent; partnership crosses 1.3 GW | business updates | high | — | — |
| 21 Aug 2026 · Suzlon fixes typographical errors in FY26 Annual Report | compliance | minimal | — | — |
| 20 Aug 2026 · Suzlon fixes typos in FY26 Annual Report; flags swapped, meeting count corrected | general | low | — | — |
| 14 Aug 2026 · Suzlon Energy informs exchange about schedule of investor meeting | board shareholder meetings | low | — | — |
| 14 Aug 2026 · Suzlon to attend four investor conferences from Aug to Sep 2026 | board shareholder meetings | low | — | — |
| 14 Aug 2026 · Suzlon to attend four investor conferences in Aug-Sep 2026 | board shareholder meetings | low | — | — |
| 14 Aug 2026 · Suzlon to attend 4 investor conferences in Aug-Sep 2026 | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| ABB INDIA LIMITED | 1,54,136 | 51.6 | 16.50 | — | 23.0 | 10.2 | — | 15.2 |
| BHEL | 1,50,076 | 61.7 | 5.74 | 49.8 | 6.1 | 4.7 | 14.3 | 9.3 |
| CG POWER AND IND SOL LTD | 1,43,168 | 93.7 | 17.46 | 77.9 | 14.6 | 19.2 | 33.2 | 14.7 |
| SIEMENS LTD | 1,40,869 | 43.0 | 10.17 | 39.7 | 19.9 | 20.6 | 31.1 | 11.6 |
| HITACHI ENERGY INDIA LTD | 1,40,200 | 121.8 | 27.09 | — | 19.1 | 24.7 | — | 16.9 |
| GE VERNOVA T&D INDIA LTD | 1,16,454 | 89.2 | 43.29 | — | 45.8 | 57.9 | — | 27.4 |
| SIEMENS ENERGY INDIA LTD | 1,13,147 | 76.0 | 23.51 | — | 14.3 | 15.8 | — | 25.9 |
| SUZLON ENERGY LIMITED ◆ | 60,678 | 19.4 | 6.41 | 18.8 | 33.4 | 22.7 | 38.0 | 16.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 19.4 | 35.1 | 8 of 34 | 79% |
| P/B | 6.4 | 5.7 | 19 of 33 | 44% |
| ROCE | 22.7 | 16.6 | 10 of 36 | 74% |
| ROE | 33.4 | 14.6 | 4 of 35 | 91% |
| Debt / Equity | 0.0 | 0.1 | 17 of 35 | 53% |
| EBITDA margin | 16.4 | 16.4 | 18 of 35 | 50% |
| Revenue growth | 22.3 | 17.7 | 15 of 33 | 56% |
| Profit growth | (5.9) | 6.7 | 19 of 32 | 42% |
| Market cap | 60678 | 7198 | 8 of 35 | 79% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
