Suzlon Energy Ltd.
SUZLONIndustrials filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
17 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 17 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20221116 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230213 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230606 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230731 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231109 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240205 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240531 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240611 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240730 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241101 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250203 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250605 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250820 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251111 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260212 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260602 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260804 | 2026-06-30 | yes |
SUZLON
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 40.74 |
| 52-week range | 39.56 – 59.99 |
| Return 1M | -12.86% |
| Return 3M | -28.7% |
| Return 1Y | -29.15% |
| Return 3Y | 59.76% |
| Return 5Y | 546.67% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 3,829.00 |
| Other income | 33.00 |
| Total income | 3,863.00 |
| Cost of materials consumed | 2,942.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | -446.00 |
| Employee benefit expense | 268.00 |
| Finance costs | 134.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.12 | -0.00 |
| institutions foreign | 0.24 | 0.00 |
| institutions domestic | 0.11 | 0.02 |
| mutual funds | 0.06 | 0.02 |
| public | 0.88 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| TRANSCRIPT | 2026-06-30 | 17 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,438.00 | 1,458.00 | 1,694.00 | 1,351.00 | 1,421.00 | 1,560.00 | 2,196.00 | 2,022.00 | 2,103.00 | 2,975.00 | 3,790.00 | 3,132.00 | 3,871.00 | 4,236.00 | 5,493.00 | 3,829.00 |
| Other income | 5.00 | 6.00 | 6.00 | 11.00 | 7.00 | 9.00 | 11.00 | 23.00 | 18.00 | 28.00 | 35.00 | 33.00 | 27.00 | 23.00 | 27.00 | 33.00 |
| Total income | 1,443.00 | 1,464.00 | 1,700.00 | 1,362.00 | 1,429.00 | 1,570.00 | 2,207.00 | 2,044.00 | 2,121.00 | 3,002.00 | 3,825.00 | 3,165.00 | 3,897.00 | 4,259.00 | 5,521.00 | 3,863.00 |
| Cost of materials consumed | 775.00 | 748.00 | 1,005.00 | 746.00 | 905.00 | 957.00 | 1,410.00 | 1,330.00 | 1,607.00 | 1,732.00 | 2,470.00 | 2,464.00 | 2,428.00 | 3,016.00 | 3,526.00 | 2,942.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 95.00 | 164.00 | 106.00 | 65.00 | -71.00 | -7.00 | -23.00 | -78.00 | -303.00 | 154.00 | -26.00 | -550.00 | -2.00 | -258.00 | 179.00 | -446.00 |
| Employee benefit expense | 153.00 | 157.00 | 157.00 | 161.00 | 183.00 | 177.00 | 182.00 | 196.00 | 242.00 | 265.00 | 238.00 | 254.00 | 291.00 | 292.00 | 263.00 | 268.00 |
| Finance costs | 97.00 | 86.00 | 86.00 | 62.00 | 44.00 | 14.00 | 44.00 | 45.00 | 56.00 | 70.00 | 85.00 | 103.00 | 110.00 | 114.00 | 135.00 | 134.00 |
| Depreciation and amortisation | 63.00 | 58.00 | 81.00 | 55.00 | 51.00 | 39.00 | 44.00 | 46.00 | 54.00 | 66.00 | 93.00 | 70.00 | 75.00 | 80.00 | 93.00 | 106.00 |
| Other expenses | 244.00 | 174.00 | 193.00 | 180.00 | 180.00 | 186.00 | 269.00 | 203.00 | 263.00 | 324.00 | 413.00 | 365.00 | 432.00 | 448.00 | 561.00 | 469.00 |
| Total expenses | 1,428.00 | 1,387.00 | 1,628.00 | 1,269.00 | 1,291.00 | 1,367.00 | 1,927.00 | 1,742.00 | 1,920.00 | 2,611.00 | 3,274.00 | 2,706.00 | 3,335.00 | 3,692.00 | 4,757.00 | 3,473.00 |
| Profit before exceptional items and tax | 15.00 | 78.00 | 72.00 | 93.00 | 137.00 | 203.00 | 280.00 | 302.00 | 202.00 | 391.00 | 551.00 | 459.00 | 562.00 | 567.00 | 763.00 | 389.00 |
| Exceptional items | 0.00 | 0.00 | 252.00 | 8.00 | -35.00 | 0.00 | -27.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 70.00 | 0.00 |
| Profit before tax | 15.00 | 78.00 | 323.00 | 101.00 | 102.00 | 203.00 | 253.00 | 302.00 | 202.00 | 391.00 | 551.00 | 459.00 | 562.00 | 567.00 | 833.00 | 389.00 |
| Current tax | -38.00 | -1.00 | 3.00 | 0.00 | 0.00 | 0.00 | 3.00 | 0.00 | 1.00 | 42.00 | -29.00 | 1.00 | 1.00 | 2.00 | 3.00 | 1.00 |
| Deferred tax | -4.00 | 0.00 | -0.00 | 0.00 | 0.00 | 0.00 | -4.00 | 0.00 | -0.00 | -38.00 | -601.00 | 134.00 | -718.00 | 119.00 | -284.00 | 84.00 |
| Tax expense | -42.00 | -1.00 | 3.00 | 0.00 | 0.00 | 0.00 | -1.00 | 0.00 | 1.00 | 4.00 | -630.00 | 135.00 | -717.00 | 121.00 | -281.00 | 84.00 |
| Profit for the period | 56.00 | 78.00 | 320.00 | 101.00 | 102.00 | 203.00 | 254.00 | 302.00 | 201.00 | 388.00 | 1,181.00 | 324.00 | 1,279.00 | 445.00 | 1,114.00 | 305.00 |
| Profit attributable to owners | 57.00 | 78.00 | 280.00 | 101.00 | 102.00 | 203.00 | 254.00 | 302.00 | 200.00 | 387.00 | 1,182.00 | 324.00 | 1,279.00 | 445.00 | 1,114.00 | 305.00 |
| Profit attributable to non-controlling interests | -1.00 | -0.00 | 40.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 | -1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | 30.00 | -9.00 | -16.00 | 4.00 | 31.00 | 0.00 | 31.00 | -1.00 | 2.00 | -1.00 | -23.00 | 5.00 | -2.00 | -0.00 | 5.00 | -1.00 |
| Total comprehensive income | 86.00 | 69.00 | 304.00 | 105.00 | 133.00 | 203.00 | 285.00 | 301.00 | 203.00 | 386.00 | 1,158.00 | 329.00 | 1,278.00 | 445.00 | 1,119.00 | 304.00 |
| Earnings per share, basic | 0.06 | 0.07 | 0.24 | 0.08 | 0.08 | 0.15 | 0.19 | 0.22 | 0.15 | 0.28 | 0.87 | 0.24 | 0.93 | 0.32 | 0.81 | 0.22 |
| Earnings per share, diluted | 0.06 | 0.07 | 0.24 | 0.08 | 0.08 | 0.15 | 0.19 | 0.22 | 0.15 | 0.28 | 0.86 | 0.24 | 0.93 | 0.32 | 0.81 | 0.22 |
Annual results, as filed
| Line | 2019-03-31 | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 5,025.00 | 2,973.00 | 3,346.00 | 6,582.00 | 5,971.00 | 6,529.00 | 10,890.00 | 16,732.00 |
| Other income | 50.00 | 28.00 | 20.00 | 22.00 | 20.00 | 38.00 | 103.00 | 110.00 |
| Total income | 5,075.00 | 3,000.00 | 3,366.00 | 6,604.00 | 5,990.00 | 6,568.00 | 10,993.00 | 16,842.00 |
| Cost of materials consumed | 2,956.00 | 1,404.00 | 1,611.00 | 4,092.00 | 3,627.00 | 4,019.00 | 7,139.00 | 11,434.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 42.00 | 469.00 | -33.00 | 240.00 | 156.00 | -37.00 | -253.00 | -631.00 |
| Employee benefit expense | 874.00 | 796.00 | 553.00 | 545.00 | 609.00 | 703.00 | 942.00 | 1,100.00 |
| Finance costs | 1,270.00 | 1,367.00 | 996.00 | 735.00 | 421.00 | 164.00 | 255.00 | 462.00 |
| Depreciation and amortisation | 342.00 | 419.00 | 258.00 | 260.00 | 260.00 | 190.00 | 259.00 | 318.00 |
| Other expenses | 1,161.00 | 1,163.00 | 681.00 | 815.00 | 747.00 | 815.00 | 1,204.00 | 1,806.00 |
| Total expenses | 6,645.00 | 5,618.00 | 4,066.00 | 6,687.00 | 5,819.00 | 5,854.00 | 9,546.00 | 14,490.00 |
| Profit before exceptional items and tax | -1,571.00 | -2,618.00 | -700.00 | -83.00 | 171.00 | 713.00 | 1,447.00 | 2,352.00 |
| Exceptional items | 28.00 | -66.00 | 805.00 | 83.00 | 2,721.00 | -54.00 | 0.00 | 70.00 |
| Profit before tax | -1,543.00 | -2,684.00 | 105.00 | 0.00 | 2,892.00 | 659.00 | 1,447.00 | 2,422.00 |
| Current tax | 3.00 | 7.00 | 5.00 | 184.00 | 5.00 | 3.00 | 14.00 | 8.00 |
| Deferred tax | -15.00 | 0.00 | 0.00 | -17.00 | -0.00 | -4.00 | -639.00 | -749.00 |
| Tax expense | -12.00 | 7.00 | 5.00 | 167.00 | 4.00 | -1.00 | -625.00 | -742.00 |
| Profit for the period | -1,537.00 | -2,692.00 | 104.00 | -177.00 | 2,887.00 | 660.00 | 2,072.00 | 3,163.00 |
| Profit attributable to owners | -1,527.00 | -2,642.00 | 104.00 | -200.00 | 2,849.00 | 660.00 | 2,072.00 | 3,163.00 |
| Profit attributable to non-controlling interests | -10.00 | -50.00 | -1.00 | 23.00 | 38.00 | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | -40.00 | 141.00 | 31.00 | -82.00 | -35.00 | 66.00 | -23.00 | 8.00 |
| Total comprehensive income | -1,577.00 | -2,551.00 | 135.00 | -258.00 | 2,852.00 | 727.00 | 2,048.00 | 3,171.00 |
| Earnings per share, basic | -2.87 | -4.97 | 0.14 | -0.22 | 2.64 | 0.50 | 1.52 | 2.31 |
| Earnings per share, diluted | -2.87 | -4.97 | 0.12 | -0.22 | 2.64 | 0.50 | 1.51 | 2.31 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 5,893.00 | 5,523.00 | 5,931.00 | 7,179.00 | 9,649.00 | 12,960.00 | 15,856.00 | 18,869.00 |
| Non-current assets | 1,379.00 | 1,346.00 | 1,474.00 | 1,891.00 | 2,683.00 | 3,708.00 | 4,550.00 | 5,368.00 |
| Current assets | 4,465.00 | 4,142.00 | 4,457.00 | 5,288.00 | 6,966.00 | 9,252.00 | 11,305.00 | 13,501.00 |
| Property, plant and equipment | 851.00 | 778.00 | 734.00 | 810.00 | 856.00 | 822.00 | 816.00 | 1,360.00 |
| Capital work-in-progress | 32.00 | 3.00 | 38.00 | 16.00 | 29.00 | 89.00 | 286.00 | 176.00 |
| Goodwill | 0.00 | 0.00 | 0.00 | 0.00 | 634.00 | 480.00 | 480.00 | 480.00 |
| Other intangible assets | 78.00 | 58.00 | 35.00 | 50.00 | 240.00 | 452.00 | 447.00 | 432.00 |
| Inventories | 2,181.00 | 1,827.00 | 1,944.00 | 2,292.00 | 3,189.00 | 3,234.00 | 4,226.00 | 4,512.00 |
| Trade receivables | 1,163.00 | 1,170.00 | 1,487.00 | 1,830.00 | 2,149.00 | 3,866.00 | 4,855.00 | 6,269.00 |
| Cash and cash equivalents | 175.00 | 367.00 | 211.00 | 250.00 | 683.00 | 901.00 | 499.00 | 631.00 |
| Total equity and liabilities | 5,893.00 | 5,523.00 | 5,931.00 | 7,179.00 | 9,649.00 | 12,960.00 | 15,856.00 | 18,869.00 |
| Equity | -354.00 | 1,099.00 | 3,409.00 | 3,920.00 | 4,693.00 | 6,106.00 | 7,860.00 | 9,464.00 |
| Equity share capital | 2,015.00 | 2,454.00 | 2,719.00 | 2,722.00 | 2,731.00 | 2,732.00 | 2,744.00 | 2,745.00 |
| Other equity | -2,328.00 | -1,355.00 | 690.00 | 1,199.00 | 1,764.00 | 3,374.00 | 5,116.00 | 6,719.00 |
| Total liabilities | 6,247.00 | 4,424.00 | 2,523.00 | 3,259.00 | 4,956.00 | 6,854.00 | 7,996.00 | 9,405.00 |
| Non-current liabilities | 2,842.00 | 1,723.00 | 256.00 | 250.00 | 879.00 | 939.00 | 971.00 | 1,218.00 |
| Current liabilities | 3,405.00 | 2,701.00 | 2,266.00 | 3,009.00 | 4,076.00 | 5,915.00 | 7,025.00 | 8,187.00 |
| Borrowings, non-current | 2,635.00 | 1,517.00 | 58.00 | 50.00 | 58.00 | 129.00 | 121.00 | 103.00 |
| Borrowings, current | 514.00 | 388.00 | 63.00 | 60.00 | 174.00 | 154.00 | 199.00 | 161.00 |
| Trade payables | 1,517.00 | 895.00 | 949.00 | 1,796.00 | 2,540.00 | 2,935.00 | 4,075.00 | 5,083.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 133.00 | 467.00 | -318.00 | 33.00 | 478.00 | 1,092.00 | 86.00 | 1,202.00 |
| Net cash from investing activities | 37.00 | 85.00 | -20.00 | -152.00 | -506.00 | -752.00 | -520.00 | -914.00 |
| Net cash from financing activities | -496.00 | -684.00 | 181.00 | 178.00 | 377.00 | 343.00 | 23.00 | -155.00 |
| Purchase of property, plant and equipment | 61.00 | 101.00 | 83.00 | 227.00 | 161.00 | 371.00 | 299.00 | 577.00 |
| Net increase in cash | -325.00 | -133.00 | -157.00 | 60.00 | 351.00 | 686.00 | -412.00 | 133.00 |
| con:CFO.BEFORE_TAX | 149.00 | 482.00 | -311.00 | 54.00 | 460.00 | 1,094.00 | 130.00 | 1,277.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 15.00 | 15.00 | 7.00 | 20.00 | -17.00 | 2.00 | 44.00 | 75.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 | 400.00 | 441.00 | 112.00 | 269.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 40.00 | 86.00 | 0.00 | 1.00 | 0.00 | 2.00 | 0.00 | 1.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 77.00 | 44.00 | 44.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 50.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-06-30 | 2023-08-14 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 14.50 | 13.29 | 13.29 | 13.29 | 13.29 | 13.27 | 13.25 | 13.25 | 13.25 | 11.74 | 0.12 | 0.12 | 0.12 | 0.12 |
| Domestic institutions | 5.91 | 10.91 | 9.82 | 6.15 | 6.30 | 9.17 | 9.01 | 9.31 | 8.73 | 10.17 | 0.10 | 0.09 | 0.09 | 0.11 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 5.24 | 0.05 | 0.05 | 0.05 | 0.06 |
| Insurance companies | 1.12 | 1.76 | 1.19 | 1.13 | 1.14 | 2.12 | 2.02 | 2.18 | 2.00 | 2.42 | 0.03 | 0.02 | 0.02 | 0.02 |
| Foreign institutions | 7.80 | 10.87 | 10.88 | 17.83 | 19.57 | 21.53 | 23.72 | 22.88 | 23.03 | 23.03 | 0.23 | 0.24 | 0.24 | 0.24 |
| Government | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 85.50 | 86.71 | 86.71 | 86.71 | 86.71 | 86.73 | 86.75 | 86.75 | 86.75 | 88.26 | 0.88 | 0.88 | 0.88 | 0.88 |
| Non-institutional | 71.78 | 64.93 | 66.00 | 62.73 | 60.85 | 56.03 | 54.03 | 54.56 | 54.98 | 55.06 | 0.55 | 0.55 | 0.55 | 0.53 |
| Shares outstanding | 12405856105 | 13561318958 | 13573626830 | 13576693532 | 13601542396 | 13624884415 | 13644793573 | 13647329011 | 13648445738 | 13698911259 | 13708566759 | 13712330509 | 13714682759 | 13742797488 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Suzlon Global Services Limited | Subsidiary | Any other transaction, Interest paid, Interest recei | 7,515,500,000.00 | 23 |
| Suzlon Gujarat Wind Park Limited | Subsidiary | Any other transaction, Interest received, Loan | 1,228,600,000.00 | 12 |
| SE Forge Limited | Subsidiary | Any other transaction, Interest received, Loan, Purc | 912,500,000.00 | 19 |
| J. P. Chalasani | Key Management Personnel | Any other transaction, Remuneration | 151,600,000.00 | 2 |
| Himanshu Mody | Key Management Personnel | Any other transaction, Remuneration | 108,300,000.00 | 2 |
| Suzlon Global Services Limited- Employee Group Gratuity Sche | Employee funds | Any other transaction | 72,500,000.00 | 1 |
| Suzlon Energy Ltd- Employee Group Gratuity Scheme | Employee funds | Any other transaction | 55,000,000.00 | 1 |
| Suzlon Energy A/S | Subsidiary | Any other transaction, Purchase of goods or services | 46,100,000.00 | 5 |
| Vinod R. Tanti | Key Management Personnel | Any other transaction, Remuneration, Sale of goods o | 41,500,000.00 | 3 |
| Sarjan Realities Private Limited | Entities where KMP have significan | Any other transaction | 38,700,000.00 | 7 |
| Suzlon Wind Energy Equipment Trading Co Limited | Subsidiary | Any other transaction, Purchase of goods or services | 17,400,000.00 | 7 |
| Suzlon Energy Australia Pty. Ltd. | Subsidiary | Any other transaction, Sale of goods or services | 13,100,000.00 | 9 |
| Marc Desaedeleer | Key Management Personnel | Any other transaction | 9,900,000.00 | 3 |
| Suzlon Gujarat Wind Park Limited- Superannuation Fund | Employee funds | Any other transaction | 7,500,000.00 | 1 |
| Per Hornung Pedersen | Key Management Personnel | Any other transaction | 7,000,000.00 | 4 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-04 | Q1FY27 | OFFICER– SUZLON ENERGY LIMITED | Read the call |
| 2026-06-02 | Q4FY26 | SUZLON ENERGY LIMITED | Read the call |
| 2026-02-12 | Q3FY26 | – SUZLON ENERGY LIMITED | Read the call |
| 2025-11-11 | Q2FY26 | Read the call | |
| 2025-08-20 | Q1FY26 | OFFICER –SUZLON ENERGY LIMITED | Read the call |
| 2025-06-05 | Q4FY25 | OFFICER –SUZLON ENERGY LIMITED | Read the call |
| 2025-02-03 | Q3FY25 | OFFICER, SUZLON ENERGY LIMITED | Read the call |
| 2024-11-01 | Q2FY25 | SUZLON ENERGY LIMITED | Read the call |
| 2024-07-30 | Q1FY25 | OFFICER, SUZLON ENERGY LIMITED | Read the call |
| 2024-06-11 | Q4FY24 | Read the call | |
| 2024-05-31 | FYFY24 | Read the call | |
| 2024-02-05 | Q3FY24 | Jayarama Chalasani:, Mohit Kumar:, OFFICER – SUZLONENERGY LIMITED | Read the call |
| 2023-11-09 | Q2FY24 | Read the call | |
| 2023-07-31 | Q1FY24 | Read the call | |
| 2023-06-06 | FYFY23 | Read the call | |
| 2023-02-13 | Q3FY23 | Read the call | |
| 2022-11-16 | Q2FY23 | Read the call |
What they said about it, quarter by quarter
| Topic | Q2FY26 | Q3FY23 | Q3FY24 | Q3FY25 | Q3FY26 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | So therefore, while the capacity addition has been lower in the H1, we see a clear visibility in the H2. | And I'm assuming that in terms of capex, because you have significantly higher manufacturing capacity, there is no significant capex for the company i… | In line with the new market scenario, wind capacity additions are now happening across all eight windy states. | So, depreciation, Sumit, will be a recurring item because with the increased CAPEX as JPC sir mentioned with Pondicherry for the additional Nacelle fa… | — | — | We have also expanded our blade manufacturing footprint with new plants in Madhya Pradesh and Rajasthan, ensuring we are well positioned to meet produ… | So I think the split contracts was making the capacity addition delay. |
| Capital allocation | And out of this 23 gigawatts for about 7.5 gigawatts, we started the land acquisition where we don't -- we have not signed the EPC contracts, nothing … | So once we conclude on that, then we will take stock of how and when to progress with the divestment of the second non-core asset. | Land acquisition has always been an issue for any infrastructure project. | Renom continues to strive for customer fleet acquisition with AUM assets under management crossing 3 GW. | After that you talk about land acquisition versus when there is no turbine, no construction happening when you look at the land. | And to our knowledge, they're not like earlier they invested and which was divested. | Though 28% growth is there, it falls short of expectations due to transmission and land acquisition challenges. | May 25, 2026 land acquisition, we try to do a land contract. |
| Costs | — | — | What people can do is that they can import the raw material. | — | — | — | And I see that the cost of raw materials is higher, right? | — |
| Debt and cash | And the second is with respect to cash flow from operations. | With continuous focus on deleveraging of our balance sheet, we have achieved substantial reduction in our net finance costs, which for the Q3 FY '23 s… | Also, we had a little slow progress internally because of the delay in the time of the working capital, which has come in, you know, significant porti… | 232 crore debt that you are referring to is working capital debt that sits in two subsidiaries which is SE Forge and Renom. | And working capital requirements today Sudhanshu as long as we keep doing this public sector projects these projects would continue to be at a high le… | In the Q3 Board meeting is when our working capital with REC really got sorted out. | So far as interest cost has been -- is concerned, again, we've started consolidating Renom, which has a small working capital, which is a cash credit … | The silver lining really is that most of this is serviced through non-fund based limits and in a secular growth scenario, working capital days could i… |
| Demand | However, there is a significant -- this slide shows a significant pipeline available for commissioning in the next 2 quarters. | So, my question is like around the order book. | This can be seen in the order book state mix in the latest investor presentation. | With around 80% of our order book being non-EPC orders, where land availability in customer scope; however, even for non-EPC orders, we have prioritiz… | My first question is out of the 2,354 megawatt execution pipeline, how many megawatts aging-wise are pre-FY '25?. | While we catch up with the increased demand of operations we also need to simultaneously work on the process, what happens when the business was low t… | As the most integrated domestic OEM with in-house R&D, Suzlon is fully compliant with and well-aligned to the government’s policy directionWe are plea… | Renom's AUM is consistently growing on the back of steady fleet additions and a healthy order pipeline. |
| Guidance | We would move in that direction in line with what we gave the guidance. | During this call, the company management may make certain statements which reflect their outlook for the future, or which could be construed as forwar… | As for the optimal cost generation mix outlook for 2030, the wind capacity in India is required to reach 100 GW as a base case scenario. | During this call, the company management may make certain statements that reflect the outlook for the future, which could be constructed as forward-lo… | We gave a guidance we'll reach like 25% by end of this year taking 6 gigawatts as the top and we are still working towards that. | Sir just wanted to understand going forward what more improvements can we expect in terms of your board composition or more softer aspects which this … | During this call, the company management may make certain statements that reflect the outlook for the future, which could be constructed as forward-lo… | Sir my next question is, can you provide the guidance for the next year, like for the FY '27, for the FY '28? |
| Margin | See, there is -- on the contribution margin level, there is no difference between last year to this year. | Hence, there is a marked improvement in our financial parameters like net debt to EBITDA stands at 2.6x on a trailing 12-month basis for December '22,… | So long as we're able to deliver 600 MW in any given year, the WTG business, manufacturing business on its own, will break even at the EBITDA level af… | For the WTG segment, our contribution margin has improved to 22.7% for the 9-month period FY25 from 19.4% during the same corresponding period for the… | The second question is on WTG EBITDA margin in Q3, which is 13.7% versus 15.6% in H1 and 16% in Q2. So why is the dip in Q3 happening? | — | FY'25 has marked a transformative year for Suzlon, defined by remarkable achievements with highest-ever revenue, EBITDA and PAT post FY '17. | The revenue at INR597 crores, up 22% Y-o-Y and EBITDA at INR119 crores, up 61% Y-o-Y, which continued momentum driven by domestic demand and export gr… |
| People | — | So, we have our capacity utilization, which is somewhere in the range of 25% to 30%. | — | Your offtakes are different, so your project offtake is what decides how much capacity utilization happens. | As we said that the overall between foundry and forging, the capacity utilization has gone up from 21 to 31. | — | So obviously, the that will benefit SE Forge as well to improve its capacity utilization factor. | — |
| Pricing | And then we have adequately loaded the working capital interest in our bids and everything, and everything is covered in our pricing. | — | It depends a lot on your relationships, what are sort of the minimum guaranteed capacity with need with them, the number of factors which play a role … | The changing pricing scenario of storage would keep changing the combination of wind, solar, how much do you want to have it? | — | — | — | However, this was anticipated and factored into the tender pricing as well. |
| Revenue growth | — | Our priority is only to pursue quality orders with higher value and better margins because for us, it's not only about the top line, but also about th… | The growth of the wind sector will also help SE Forge as their major source of revenue comes from the supply of wind components. | — | — | — | And are we going to see the acceleration in top line in SE Forge in FY '26, given that this did not happen in FY '25, despite sharp increase in delive… | And not just for us, I think this is going to be engine for growth of the sector because the execution is becoming a major challenge. |