Suzlon Energy Ltd. is scheduled to announce its financial results for the second quarter and half-year ending September 30, 2026, on Thursday, October 29. The wind turbine manufacturer's shares saw a 1.7 percent decline on Monday, trading at Rs 36.77, placing its market capitalization at approximately Rs 50,000 crore.
The stock is currently hovering near its 52-week low of Rs 36.30, recorded earlier this month. Suzlon shares have experienced a significant downturn, falling over 40 percent from their 52-week high of Rs 61.45 in November 2025, and are down 30 percent year-to-date in 2026.
Q2 FY27 Earnings Expectations
Brokerage estimates anticipate Suzlon to report robust double-digit revenue growth for Q2 FY27, driven by increased deliveries and a healthy order book. Revenue projections vary between Rs 4,670 crore and Rs 4,815 crore. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) is forecast to be in the range of Rs 770–784 crore, with margins estimated at 16.1–16.6 percent.
Net profit estimates for the quarter range from Rs 459 crore to Rs 578 crore. Deliveries are expected to be around 660-665 MW, an increase from previous periods, signaling operational strength.
Brokerage Specific Forecasts
- JM Financial: Projects revenue at Rs 4,815.1 crore (up 24% YoY), net profit at Rs 578.1 crore (up 3% YoY), and EBITDA at Rs 783.9 crore (up 9% YoY) with a 16.3% margin.
- Anand Rathi Share and Stock Brokers: Expects revenue of Rs 4,777.7 crore (up 23.4% YoY) and net profit of Rs 463.2 crore (down 17.5% YoY, though up QoQ), with EBITDA margins contracting to 16.1% YoY.
- Motilal Oswal Financial Services: Forecasts revenue of Rs 4,670 crore (up 21% YoY) with 665 MW in deliveries, EBITDA of Rs 770 crore (up 7% YoY) at a 16.6% margin, and net profit of Rs 459.6 crore (down 18% YoY).
Analyst Ratings and Price Targets
Despite the recent share price fluctuations, the outlook from brokerages remains largely positive. According to Bloomberg data, out of 10 firms covering Suzlon, nine have issued a 'Buy' rating for the stock, with only one holding a 'Hold' rating.
These 'Buy' ratings come with significant upside potential, with target prices suggesting an increase of 25 to 100 percent from the current share price. Noteworthy target prices include:
- JM Financial: Rs 46
- Ambit: Rs 59
- Systematix: Rs 63
- Axis Capital: Rs 64
- Motilal Oswal: Rs 65
- Anand Rathi: Rs 65
- ICICI Securities: Rs 65
- UBS: Rs 66
- Investec: Rs 67
- Centrum Broking: Rs 74
Nuvama Institutional Equities, holding a 'Hold' rating, has set a target price of Rs 51.
“Suzlon, with healthy order books, is estimated to report double-digit growth with improvement in margins. We estimate deliveries of 660 MW versus 565 MW in Q2 FY26 and 506 MW in Q1 FY27. PAT has been adjusted for the impact of deferred tax,” JM Financial noted in its report.
Investors will be closely watching the official Q2 FY27 results on October 29 for confirmation of these analyst projections and further insights into Suzlon Energy's performance and future trajectory.