Suzlon Energy Limited
NSE: SUZLON · Heavy Electrical Equipment · sector
₹37.12NSE close 2026-10-26
Key numbers
Market cap₹51,051 cr
Price₹37.12
52w high / low₹62 / ₹36
P/E16.3xSector median 27.8x
P/B5.4xSector median 5.4x
Book value₹6.9
Dividend yield–Sector median 0.19%
ROE40.4%Sector median 18.8%
ROCE29.2%Sector median 21.4%
OPM17.7%Sector median 15.1%
Debt / equity0.03xSector median 0.09x
EV/EBITDA16.1xSector median 21.4x
Interest cover5.8x
Current ratio1.65x
Sales growth 3y+41.0%Sector median +22.1%
Profit growth 3y+3.5%Sector median +27.5%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 43 companies in Heavy Electrical Equipment (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹1,462 cr vs borrowings ₹264 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 5.8x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 4 of the last 5 years (FY26, FY25, FY24, FY23).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 3% of net profit in the last 12 months.
- Debtor days went from 102 (FY24) to 137 (FY26).
- No dividend in the last 5 financial years.
- Price ₹37.12 on 2026-10-26: -39.6% from the 52-week high, +2.2% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹82.89 · low ₹37.12
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,103 | 2,975 | 3,790 | 3,132 | 3,871 | 4,236 | 5,493 | 3,829 |
| EBITDA | 294 | 500 | 693 | 599 | 721 | 738 | 1,034 | 595 |
| OPM % | 14.0% | 16.8% | 18.3% | 19.1% | 18.6% | 17.4% | 18.8% | 15.5% |
| Other income | 18 | 28 | 35 | 33 | 27 | 23 | 27 | 33 |
| Net profit | 200 | 387 | 1,182 | 324 | 1,279 | 445 | 1,114 | 305 |
| EPS (₹) | 0.15 | 0.28 | 0.87 | 0.24 | 0.93 | 0.32 | 0.81 | 0.22 |
| Revenue YoY | +84.0% | +42.4% | +44.9% | +22.3% | ||||
| Profit YoY | +539.1% | +15.1% | -5.7% | -5.9% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 6,582 | 5,971 | 6,529 | 10,890 | 16,732 | 17,429 |
| EBITDA | 973 | 3,553 | 975 | 1,857 | 3,092 | 3,089 |
| Net profit | -200 | 2,849 | 660 | 2,072 | 3,163 | 3,144 |
| EPS (₹) | -0.22 | 2.64 | 0.50 | 1.52 | 2.31 | 2.28 |
| Revenue growth | -9.3% | +9.4% | +66.8% | +53.6% | +45.2% | |
| Profit growth | – | -76.8% | +213.7% | +52.7% | +50.2% | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +41.0% | +38.0% | +45.2% |
| Net profit | +3.6% | +97.9% | +50.2% |
| EPS | -4.4% | +75.2% | – |
| Share price | – | -25.3% (2y) | -27.3% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 1,099 | 3,920 | 6,106 | 9,464 |
| Borrowings | – | 1,905 | 110 | 283 | 264 |
| Cash & equivalents | – | 367 | 435 | 1,156 | 1,462 |
| Total assets | – | 5,523 | 7,179 | 12,960 | 18,869 |
| Fixed assets | – | 778 | 810 | 822 | 1,360 |
| Capital work in progress | – | 3 | 16 | 89 | 176 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 1,170 | 1,830 | 3,866 | 6,269 |
| Inventory | – | 1,827 | 2,292 | 3,234 | 4,512 |
| Payables | – | 895 | 1,796 | 2,935 | 5,083 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 1,302 | 467 | 33 | 1,092 | 1,202 |
| Cash from investing | -18 | 85 | -152 | -752 | -914 |
| Cash from financing | -1,045 | -684 | 178 | 343 | -155 |
| Capex | 77 | 101 | 227 | 371 | 577 |
| Free cash flow | 1,225 | 366 | -194 | 721 | 625 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 259.2% | 16.8% | 33.9% | 33.4% |
| ROCE % | – | 110.3% | 20.4% | 26.6% | 29.6% |
| Debtor days | – | 72 | 102 | 130 | 137 |
| Inventory days | – | 176 | 210 | 171 | 152 |
| Payable days | – | 86 | 165 | 156 | 172 |
| Cash conversion cycle (days) | – | 162 | 147 | 145 | 117 |
| Working capital days | – | 88 | 127 | 112 | 116 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 11.70% |
| FIIs | 23.63% |
| DIIs | 10.25% |
| of which Mutual funds | 6.54% |
| of which Insurance | 1.79% |
| Government | 0.00% |
| Public (non-institutions) | 54.42% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 13.25% | 13.25% | 11.74% | 11.73% | 11.73% | 11.73% | 11.71% | 11.70% |
| Promoter group | % |
|---|---|
| Tanti Holdings Private Limited | 4.62% |
| Rambhaben Ukabhai | 3.24% |
| Samanvaya Holdings Private Limited | 2.66% |
| Girish R.Tanti | 0.73% |
| Vinod R.Tanti | 0.22% |
| Pranav T.Tanti as karta of Tulsi Ranchhodbhai HUF | 0.13% |
| Jitendra R.Tanti | 0.07% |
| Gita T.Tanti | 0.04% |
| Sangita V.Tanti | 0.00% |
| Lina J.Tanti | 0.00% |
| Pranav T.Tanti | 0.00% |
| Nidhi T.Tanti | 0.00% |
| Rajan V.Tanti | 0.00% |
| Brij J.Tanti | 0.00% |
| Trisha J.Tanti | 0.00% |
| Public holders above 1% | % |
|---|---|
| Motilal Oswal Nifty 500 ETF | 3.21% |
| Belgrave Investment Fund . | 1.86% |
| Cannon Realty PVT. Ltd. | 1.75% |
| Aditya Thermal Energy Private Limited | 1.28% |
| Vanguard Total International Stock Index Fund | 1.20% |
| Vanguard Emerging Markets Stock Index Fund, A Seri | 1.15% |
| Amrik Singh and Sons Crane Services Private Limited | 1.05% |
| Ishares II Public Limited Company - Ishares Global | 1.04% |
55,99,016 shareholders. Pledged: 0.00% of promoter shares.
Peers in Heavy Electrical Equipment
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| BHEL | ₹1,37,384 cr | 47.7x | 5.1x | 11.2% | 13.5% | 10.1% | +13.1% | 0.12% |
| ABB | ₹1,34,715 cr | 45.1x | 14.4x | 36.1% | 22.4% | 14.0% | – | – |
| CGPOWER | ₹1,31,237 cr | 104.9x | 16.5x | 16.5% | 21.3% | 12.5% | +30.7% | 0.16% |
| POWERINDIA | ₹1,19,751 cr | 104.0x | 23.1x | 24.5% | 29.9% | 14.9% | +22.2% | 0.02% |
| SIEMENS | ₹1,16,725 cr | 35.6x | 8.4x | 25.0% | 14.2% | 10.0% | +41.0% | 0.37% |
| ENRIN | ₹98,074 cr | 65.9x | 20.4x | 34.3% | 42.0% | 20.9% | – | 0.14% |
| GVT&D | ₹97,043 cr | 74.3x | 36.1x | 58.5% | 65.5% | 25.2% | +30.8% | 0.13% |
| SUZLON | ₹51,051 cr | 16.3x | 5.4x | 40.4% | 29.2% | 17.7% | +41.0% | – |
| THERMAX | ₹35,902 cr | 60.5x | 6.5x | 11.3% | 12.5% | 8.6% | +9.8% | 0.44% |
| SCHNEIDER | ₹27,190 cr | 147.9x | 35.1x | 27.5% | 25.3% | 11.0% | +17.6% | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Wind Turbine Generator | ₹14,040 cr | 82.0% | ₹1,854 cr | 13.2% |
| Operation & Maintenance Service | ₹2,484 cr | 14.5% | ₹759 cr | 30.6% |
| Foundry & Forging | ₹596 cr | 3.5% | ₹86 cr | 14.5% |
| Others | ₹8 cr | 0.0% | ₹5 cr | 58.7% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-09-03 | Other | Annual General Meeting |
| 2023-09-20 | Other | Annual General Meeting |
| 2022-10-03 | Rights | Rights 5:21 @ Premium Rs 3/- |
| 2022-09-21 | Other | Annual General Meeting |
| 2021-09-16 | Other | Annual General Meeting |
| 2020-09-17 | Other | Annual General Meeting |
| 2019-09-12 | Other | Annual General Meeting |
| 2018-07-19 | Other | Annual General Meeting |
| 2017-09-14 | Other | Annual General Meeting |
| 2016-09-22 | Other | Annual General Meeting |
| 2015-09-21 | Other | Annual General Meeting |
| 2014-09-11 | Other | Annual General Meeting |
| 2013-09-05 | Other | Annual General Meeting |
| 2012-08-02 | Other | Annual General Meeting |
| 2011-09-15 | Other | Annual General Meeting |
| 2010-07-29 | Other | Annual General Meeting |
| 2010-06-09 | Rights | Rights 2:15 @ Premium Rs.61/- |
| 2009-07-30 | Other | Annual General Meeting Bc Dates Revised |
| 2008-07-17 | Dividend | Agm/Dividend-Re.1 Per Sh. |
| 2008-01-21 | Split | Fv Split Rs.10/- To Rs.2/ |
Documents
- Annual report FY26
- Annual report FY26
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Suzlon Energy Limited - Manufacturing - (Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment) Manufacturing (installation of machinery & equipment) WTG OMS - Professional, Scientific, and Technical (Architecture, engineering activities, technical testing, and analysis activities), Operation and maintenance of WTGs: Manufacture and sale of WTG and operation and maintenance of Services of WTGs
- Suzlon Renewable Development Limted - Real Estate (Real estate activities with own or leased property): Land Business
- Suzlon Projects (West) Limted - project execution, power evacuation execution and commissioning: Project Business
- Suzlon Projects (South) Limted - project execution, power evacuation execution and commissioning: Project Business
- SE Forge Limited - Manufacturing (Metal and metal products): Forging and Foundry
- Renom Energy Services Pvt. Ltd. - Multi brand Operations & Maintenance Services (OMS): Operations & Maintenance Services (OMS)
| Sector | Industrials |
| Industry | Heavy Electrical Equipment |
| Sub-industry | Heavy Electrical Equipment |
| Symbol | SUZLON |
| BSE code | 532667 |
| ISIN | INE040H01021 |
| Face value | ₹2.0 |
| Incorporated | 1995-04-10 |
| Website | www.suzlon.com |
| Plants (India / abroad) | 14 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.