Suzlon Energy Limited announced its Q3 FY26 results on Thursday, 5 February 2026, delivering record wind turbine deliveries and strong revenue growth amid India's accelerating renewable energy transition. The performance highlights Suzlon's improving balance sheet, expanding order book, and execution strength, while also drawing investor attention to sequential profit volatility driven by tax adjustments.
This Suzlon Q3 FY26 results update is relevant for equity investors, long-term shareholders, analysts tracking renewable energy stocks, and readers looking to understand how Suzlon quarterly results reflect India's clean energy growth story.
Table of Contents:
- Suzlon Q3 FY26 Results Snapshot
- Suzlon Q3 Results: Financial Performance Breakdown
- Operational Performance & Suzlon Order Book Analysis
- Suzlon Segment-Wise Revenue Analysis (9M FY26)
- Suzlon Balance Sheet Strength & Return Ratios
- Market Reaction to Suzlon Q3 Results 2026
- Growth Outlook for Suzlon Energy
- Key Risks to Monitor in Suzlon Energy Results
- Suzlon Q3 FY26 Results: Key Takeaways and Investor Outlook
- FAQs on Suzlon Q3 FY26 Results
Suzlon Q3 FY26 results underline a sharp year-on-year improvement, supported by higher deliveries and operating leverage.
| Metric |
Q3 FY26 |
YoY Change |
| Revenue |
₹4,228 crore |
+42% |
| EBITDA |
₹739 crore |
+48% |
| EBITDA Margin |
17.5% |
Improved |
| PBT |
₹567 crore |
+45% |
| PAT |
₹445 crore |
+15% |
While Suzlon Q3 results showed strong YoY growth, profit declined sequentially due to a deferred tax charge, an important factor for interpreting Suzlon quarterly results accurately.
- Revenue growth was driven by higher wind turbine generator deliveries and steady execution across projects.
- EBITDA expansion reflected operating leverage and cost discipline.
- Net profit after tax declined 65% quarter-on-quarter due to a ₹119 crore deferred tax expense compared with a tax credit in the previous quarter.
This nuance is critical in any Suzlon Q3 FY26 results analysis, as the sequential decline is accounting-led rather than operational.
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Suzlon Energy latest quarterly results reflect record execution momentum.
- Quarterly wind turbine deliveries reached an all-time high of 617 MW versus 447 MW last year.
- Projects under execution stood at 2.4 GW.
- Closing order book increased to 6.4 GW, providing strong revenue visibility.
For the nine months ended FY26, Suzlon quarterly results showed deliveries of 1,625 MW, up 66% year on year.
| Segment |
Revenue (₹ crore) |
| Wind Turbine Generator |
9,298 |
| Foundry and Forging |
429 |
| O&M Services |
1,789 |
| Total |
11,211 |
Wind turbine generators continue to contribute the bulk of revenue, reinforcing Suzlon's core manufacturing strength.
Suzlon Energy quarterly results also highlight a significantly strengthened balance sheet.
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Net cash position of ₹1,556 crore at quarter end.
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Almost debt-free status improves financial resilience.
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ROCE at 32.5% and ROE at 41.4% signal efficient capital utilisation.
However, debtor days increased to 130, up from 101, making working capital management a key area to monitor.
Following the Suzlon Q3 results date on 5 February 2026, the share price declined by over 4% to ₹47.59. The reaction reflected concerns around the quarter-on-quarter profit drop rather than underlying business weakness.
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Market capitalisation: ₹65,089 crore
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P/E ratio: 20.1, below several industrial peers
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Price to book: 8.28x
Despite short-term volatility, Suzlon Q3 FY26 results continue to support the long-term investment thesis.
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To evaluate how Suzlon’s stock has reacted to its quarterly results and market volatility, review the Suzlon share price, recent price charts, and valuation indicators.
India's electricity demand is projected to reach 4,490 TWh by 2047, with renewable capacity expected to grow nearly tenfold.
Suzlon's stated growth levers include:
- Targeting 50% EPC market share by 2028
- 25 GW project pipeline under development
- Expansion into full-stack clean energy solutions beyond wind
Suzlon quarterly results indicate the company is well-positioned to benefit from India's renewable energy push, although promoter holding remains low at 11.7% and no dividend has been announced.
- Quarter-on-quarter earnings volatility linked to tax adjustments
- Rising debtor days are impacting cash flows
- Low promoter stake and competitive intensity in renewables
- Execution delays or margin pressure in large-scale projects
Balancing these risks against the robust order book is central to evaluating Suzlon Q3 FY26 results analysis.
Suzlon Q3 FY26 results reinforce the company's transition from a turnaround story to a scaled renewable energy manufacturer with improved financial resilience. Strong year-on-year growth in revenue, EBITDA, and deliveries, combined with a record order book and net cash balance, underlines the operational momentum visible in recent Suzlon quarterly results.
At the same time, the Suzlon Q3 results highlight why investors should look beyond headline numbers. The quarter-on-quarter profit decline was driven largely by tax adjustments rather than weakening demand, while rising debtor days and competitive pressures remain key variables to monitor.
Overall, Suzlon Q3 FY26 results analysis suggests the company is well-positioned to benefit from India's long-term renewable energy expansion, with strong order visibility and execution capabilities supporting growth. For long-term investors and analysts tracking Suzlon Energy latest quarterly results, sustained cash flow discipline and timely project execution will be critical in converting this momentum into durable shareholder value.
1. What were Suzlon Q3 FY26 results highlights?
Suzlon reported 42% YoY revenue growth, record turbine deliveries of 617 MW, and a net cash balance of ₹1,556 crore.
2. Why did Suzlon Q3 results show a QoQ profit decline?
The decline was mainly due to a deferred tax charge in Q3 FY26 versus a tax credit in the previous quarter.
3. How strong is Suzlon's order book after Q3 results 2026?
The closing order book stood at 6.4 GW, providing strong visibility for future revenues.
4. Are Suzlon Energy latest quarterly results positive for long-term investors?
Operationally yes, supported by strong execution and balance sheet strength, though working capital and tax trends need monitoring.
5. When was the Suzlon Q3 results date announced?
Suzlon announced its Q3 FY26 results on 5 February 2026.