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Informist, Monday, Nov. 3, 2025

By Taniva Singha Roy
 
MUMBAI – Suzlon Energy Ltd. is expected to report a robust on-year growth in its net profit and revenue for the September quarter on the back of improved operating leverage, according to brokerages tracking the company.

The company's consolidated net profit for the September quarter is expected to rise nearly 27% on year to INR 2.5 billion, according to the average of estimates of four brokerages. The net profit estimates are in the range of INR 1.99 billion and INR 2.88 billion.

The Jul-Sept revenue of Suzlon Energy is seen at INR 29.07 billion, up over 38% on year. The revenue estimates are in the range of INR 27.85 billion and INR 29.70 billion.

For the June quarter, Suzlon Energy had reported a 7% on-year rise in net profit to INR 3.24 billion. The company's revenue grew nearly 55% on year to INR 31.32 billion. 

On a sequential basis, however, the renewable energy solutions provider is expected to see a fall in its net profit and revenue, according to analysts. This is likely due to a slowdown of work amid heavy rains which affected execution of about 375 megawatts worth of wind turbine orders in the second quarter of 2025-26 (Apr-Mar), Nuvama Wealth Management Ltd. said.

The southwest monsoon season from June to September is significant for India's renewable energy industry. Monsoon sees a jump in the generation of hydroelectric and wind power. However, torrential rainfall during September could have affected execution of projects. Heavy rain reduces wind power generation by altering blade aerodynamics, which increases drag and decreases lift and this leads to lower rotational speed and less power output.

As most of the work done in the reporting quarter was related to engineering, procurement, and construction contracts — which usually have lower profit margin, the company's profit margin is expected to fall to around 16% in the September quarter, brokerage Nuvama said. In the June quarter, the earnings before interest, taxes, depreciation, and amortisation margin, or EBITDA margin, for the quarter rose to 19.2% from 18.4% a year ago.

Anand Rathi Share and Stock Brokers Ltd. said major projects during the quarter were orders of 1,166 MW wind energy capacity from National Thermal Power Corp., 838 MW from Tata Power Renewables, and 381 MW from Zelestra. The renewable energy company's future performance will depend on how quickly projects resume and the kind of contracts the company executes, brokerage firms said.

The company's EBITDA for the September quarter is estimated to be in the range of INR 4.23 billion and INR 5.06 billion, according to three brokerages. The EBITDA was INR 5.99 billion in Apr-Jun. 

Suzlon Energy will release its September quarter results on Tuesday. Its shares have fallen nearly 2% since it released Apr-Jun earnings. On Monday, shares of the company ended nearly flat at INR 59.24 on the National Stock Exchange.

Of the seven brokerage reports on the company available with Informist, five have a 'buy' rating on the stock while two have a 'hold' rating. Among brokerages with a "buy" or equivalent rating, JM Financial Institutional Securities Ltd. has the lowest target price of INR 66 while Motilal Oswal has the highest target price of INR 82.

Following are the Jul-Sept consolidated earnings estimates for Suzlon Energy, in INR million, based on reports from four broking firms, in descending order of net profit:

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Edited by Tanima Banerjee

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