Suzlon Energy Limited — Q2FY27 earnings call summary

Filed 04 November 2026 · Official transcript

Manufacturing capacity 4.5 GW; exports growing with INR12,000 Cr industry export in FY26
Market share near 28-29%; target 40% by FY31 with 25% CAGR sales growth
Multiple analyst queries on margin pressure and working capital; management expects margin normalization to 16.5-17% excluding non-recurring costs
Q2 FY27 revenue grew 27% Q-o-Q to INR4,869 Cr; EBITDA INR720 Cr (+21% Q-o-Q); PAT INR394 Cr (+29% Q-o-Q)
H1 FY27 deliveries up 21% Y-o-Y to 1,217 MW; commissioning rose 168% to 723 MW
EBITDA margin impacted by lower WTG contribution (21.2%), FX/commodity volatility (~50 bps), and non-recurring Suzlon 2.0 costs (~100 bps)
Order book at 6 GW with 18 months coverage; strong pipeline including 900 MW DevCo orders
Suzlon 2.0 includes new turbine launches, AI-enabled blade factories, and expansion into FDRE, solar, BESS