Shares of Suzlon Energy declined by 4.5% intraday on Wednesday, August 13, to ₹60.32, despite the company reporting strong order book growth and record deliveries for the June 2025 quarter. While revenue, volume, and EBITDA aligned with expectations, net profit fell short due to a deferred tax expense of ₹134 crore, resulting in a consolidated net profit of ₹324 crore, slightly higher than ₹302 crore last year. The company clarified this tax charge stems from the reversal of previously recognized deferred tax assets and has no cash flow impact.
Investor sentiment was further affected by the announced resignation of Group CFO Himanshu Mody, effective August 31, with his replacement reportedly in the final stages of selection.
Suzlon reported deliveries of 444 MW in Q1—its highest ever—and secured 1 GW in new orders, bringing its total order book to 5.7 GW. The flagship S144 turbine now accounts for over 5 GW. Management maintained its FY26 guidance of 60% growth in revenue, EBITDA, and deliveries.
Motilal Oswal retained a “Buy” rating with a revised target price of ₹80, noting Mody’s exit as a short-term concern. JM Financial also held a “Buy” call, slightly lowering its target to ₹78, citing execution concerns.
