Suzlon set to ride order tailwinds

Signs of revival Suzlon Energy's orders inflow rose sequentially in Q1FY26 after falling consecutively for two quarters from Q2FY25's peak.

- Manish Joshi

Suzlon Energy Ltd's shares have shed nearly 5% in two sessions, as its solid performance in the June quarter and meeting its guidance seemed to be eclipsed by the sudden exit of its chief financial officer Himanshu Mody.

The company's Q1 results were in line with its earlier guidance of 60% growth for FY26 in key parameters, and there is optimism over its upcoming order inflow.

Deliveries of wind turbine generators (WTG) were up 62% year-on-year (y-o-y) to 444 MW and earnings before interest, taxes, depreciation and amortization (EBITDA) grew 64% to ₹603 crore.

Profit after tax growth looked modest at 7%, but that was due to a non-cash charge of deferred tax this time versus nil a year ago. Profit before tax grew 52% to ₹459 crore.

It seems that the surprise resignation of CFO Mody, announced along with the results, did not go down well with the Street. Mody had joined Suzlon in August 2021, and his term coincided with the sharp decline in net debt from ₹6,700 crore to net cash of ₹1,620 crore as on 30 June.