BEHIND SUZLON’S REVIVAL

DEBT REDUCTION AND BET ON HIGH-MARGIN SEGMENTS SUCH AS OPERATIONS & MAINTENANCE HELP THE WIND ENERGY PLAYER RECOVER LOST GROUND

- KRISHNA GOPALAN

A WALK THROUGH Suzlon One Earth in Pune with the enthusiastic Girish Tanti, the group's Co-Founder & Vice-Chairman, is an interesting experience. The 10-acre headquarters of the wind energy player runs on renewable energy. Predictably, the landscape is dotted with wind turbines, solar panels and photovoltaic cells. Tanti shows us a gallery tracking the evolution of Suzlon. In many ways, it's the story of wind energy in India.

Since 1995, when it was founded, to going global and then falling deep into debt, and now firing on all cylinders, Suzlon Energy has seen it all. But the best is yet to come, claims the top management. “It is a very interesting phase for the company, and we are hugely excited,” says Tanti. Take the numbers for the last quarter of the 2025 fiscal when the company reported an 81% rise in Ebitda. In FY25, profit rose a humongous 213% to ₹2,071 crore and for the first time, a guidance is being put out for at least 60% growth across the board. It is also debt-free, a far cry from the days in 2015 when it had a debt of ₹17,500 crore.

Tanti is a happy man. “The focus is on growing the market,” he says. As India doubles down on its focus on renewable energy—it wants to build 500 GW renewable capacity by 2030, up from 226.75 GW at present—Suzlon’s management sees a clear opportunity. But how much of that potential can the company capture?

SUZLON 2.0