Suzlon Energy Q4 FY25 Results: Is the Wind Back in Its Sails?

India’s wind energy pioneer Suzlon Energy just delivered a blockbuster Q4 FY25 result. But should investors ride the wind or book profits? Let’s break down the highlights, red flags, and future outlook to help you decide.

 
🌟 Highlights of Q4 FY25 – Record-Breaking Performance
Revenue: ₹10,851 Cr (67% YoY growth)
EBITDA: ₹1,857 Cr (80% YoY growth)
PAT: ₹2,072 Cr (190% YoY growth, includes deferred tax gain)
EBITDA Margin: 17.1% (up from 15.8% in FY24)
“We achieved all-time high deliveries of 1,550 MW and secured over 5.5 GW in orders, including a 1.5 GW win from NTPC.” – Suzlon Management
 
💼 What’s Fueling This Growth?
✅ Mega Order Book: Over 5.5 GW, led by PSU, C&I, and Utility segments
✅ S144 Wind Turbine: A made-in-India flagship product with over 5 GW orders
✅ OMS (Operations & Maintenance): Covers 15 GW in India, ~40% EBITDA margin
✅ Policy Tailwinds: Fully compliant with RLMM domestic manufacturing norms
✅ Clean Balance Sheet: Net worth ₹6,106 Cr, net cash ₹1,943 Cr
 
⚠️ Red Flags & Risks to Watch
❗ Deferred Tax Boost: ₹638 Cr in PAT is from deferred tax; not a recurring profit
❗ Execution Delays: Land acquisition and grid connectivity remain pain points
❗ Margin Pressure: Shift towards lower-margin WTG (Wind Turbine Generator) segment
❗ Capex and Liabilities: ₹900 Cr liabilities added for Renom and HQ put-call deals
❗ Valuation Caution: Rally might have priced in FY26 optimism early
 
📈 FY26 Outlook: Can It Deliver?
📊 60%+ growth guided across revenue, EBITDA, PAT, and deliveries
⚙️ No need for major capex; existing 4.5 GW capacity can scale to 5.5 GW with better utilization
🌍 Exploring export potential, repowering, and non-wind sectors like defence & railways
“We are not just ready — we are building for the next phase of India’s green energy future.” – JP Chalasani, CEO, Suzlon Energy

✅ Verdict: 
Suzlon is back on the growth path. With a cleaner balance sheet, strong order book, and government-aligned strategy, it’s well-positioned.

🔍 Final Thoughts
Suzlon’s FY25 numbers are proof that India’s wind energy story is gaining momentum again. But as always, execution and delivery will separate the hype from reality.

 
📢 Are you tracking Suzlon or other green energy stocks? click to open a free demat account with us at mydemat.com.

 📢 Disclaimer:
The content provided on this blog is for educational and informational purposes only. It does not constitute financial, investment, or trading advice and should not be interpreted as a recommendation to buy, sell, or hold any security.

The views expressed are personal opinions based on publicly available information and market trends. I am not a SEBI-registered investment advisor or analyst.

Readers are strongly advised to consult with a SEBI-registered financial advisor before making any investment decisions. The blog owner will not be held responsible for any financial losses incurred based on the content published here.