Board Meeting Details

The Board of Directors meeting was held on 28th July 2026 from 11:50 a.m. to 1:35 p.m. (IST).

Key Approvals

1. Approved unaudited limited reviewed financial results on standalone and consolidated basis for quarter ended 30th June 2026

2. Approved setting up of wholly owned subsidiary in Singapore for international wind energy and OMS business augmentation

Financial Results - Consolidated (Q1 FY27)

Income:

  • Revenue from operations: ₹3,819.36 crore
  • Other operating income: ₹9.73 crore
  • Other income: ₹33.44 crore
  • Total income: ₹3,862.53 crore

Expenses:

  • Consumption of raw materials: ₹2,942.39 crore
  • Changes in inventories: (₹445.71) crore
  • Employee benefits expense: ₹268.00 crore
  • Finance cost: ₹133.62 crore
  • Depreciation: ₹105.59 crore
  • Foreign exchange loss: ₹8.79 crore
  • Other expenses: ₹460.38 crore
  • Total expenses: ₹3,473.06 crore

Profitability:

  • Profit before exceptional items and tax: ₹389.47 crore
  • Exceptional items: Nil (compared to gain of ₹70 crore in Q4 FY26)
  • Profit before tax: ₹389.47 crore
  • Tax expense: ₹84.25 crore (Current tax: ₹0.55 crore, Deferred tax: ₹83.70 crore)
  • Net profit after tax: ₹305.22 crore
  • Total comprehensive income: ₹303.99 crore

Capital Structure:

  • Paid-up equity share capital: ₹2,750.61 crore (Face value ₹2 each)
  • EPS Basic: ₹0.22
  • EPS Diluted: ₹0.22

Financial Results - Standalone (Q1 FY27)

Income:

  • Revenue from operations: ₹3,291.90 crore
  • Other operating income: ₹5.48 crore
  • Other income: ₹43.23 crore
  • Total income: ₹3,340.61 crore

Profitability:

  • Profit before exceptional items and tax: ₹382.92 crore
  • Exceptional items: Nil
  • Profit before tax: ₹382.92 crore
  • Tax expense: ₹76.48 crore (all deferred tax)
  • Net profit after tax: ₹306.44 crore
  • Total comprehensive income: ₹305.82 crore
  • EPS Basic: ₹0.22
  • EPS Diluted: ₹0.22

ESOP Allotments (Q1 FY27)

The Securities Issue Committee approved allotment of equity shares pursuant to ESOP 2022 plan:

  • Multiple allotments between April-July 2026 totaling significant share issuance
  • Various grant prices ranging from ₹5 to ₹45 per share
  • Largest allotment: 61,47,479 shares at ₹30 per share (Grant 2) aggregating ₹184.24 crore

Exceptional Items

Consolidated: Gain of ₹70 crore in Q4 FY26 from settlement of contractual matter

Standalone:

  • Q4 FY26: Reversal of impairment provision on subsidiaries (₹694.42 crore), extinguishment/reversal of financial liabilities (₹546 crore)
  • Q1 FY25: Gain on transfer of Project business (₹5.44 crore)

SEBI Penalty Matter

  • SEBI order dated 29th May 2026 imposed aggregate penalty of ₹28.95 crore on noticees
  • ₹15.95 crore attributable to Suzlon Energy Limited for specified transactions with domestic subsidiaries and contingent liabilities disclosure from FY 2013-14 to FY 2017-18
  • Company filed appeal before Securities Appellate Tribunal (SAT) on 13th July 2026
  • Management believes strong case for defense with no material impact on current results

Segment Reporting Update

  • Renamed 'Wind Turbine Generator' segment to 'Renewable Energy Solutions'
  • Renamed 'Operation & Maintenance Service' segment to 'RE Asset Management Services'
  • No impact on reportable segments composition or previously reported amounts

Segment Revenue (Q1 FY27):

  • Renewable Energy Solutions: ₹3,934.25 crore (less inter-segment ₹114.89 crore)
  • Net revenue from operations: ₹3,819.36 crore

Segment Results:

  • Renewable Energy Solutions: ₹264.37 crore
  • RE Asset Management Services: ₹212.06 crore
  • Foundry & Forging: ₹11.74 crore
  • Others: ₹1.48 crore

Annual General Meeting

  • 31st AGM to be held on Friday, 11th September 2026 through Video Conferencing/Other Audio Visual Means
  • Register of Members and Share Transfer Books to remain closed from 5th September to 11th September 2026 (both inclusive)

Operational Highlights (from Press Release)

  • Highest ever Q1 deliveries: 506 MW (+14% YoY)
  • Commissioning: 269 MW (2.3x YoY)
  • New order additions: ~1 GW including DevCo-led EPC orders from Tata Power and Waaree Group
  • Cumulative order book: ~6.1 GW with 84% from PSU and C&I sectors
  • EPC share increased from 22% (Q1 FY26) to 32%
  • Unveiled S175 (5 MW) platform and secured first order in India
  • Launched Suzlon 2.0 strategy with four business segments

Manufacturing Expansion

  • Doubled rotor blade manufacturing capacity in Jaisalmer from 630 MW to 1,260 MW
  • Expanded facility spread over 30 acres, employment for 1,200+ people
  • Capability to manufacture both S144 and S175 rotor blades

Management Changes

  • Appointment of Anjali Byce as Group Chief Human Resource Officer
  • Recognition of Rajendra Mehta's contributions over past four years

Auditor Review

  • Walker Chandiok & Co LLP conducted limited review of financial results
  • Review conducted in accordance with SRE 2410 issued by ICAI
  • No material misstatements identified in the financial results

Subsidiaries Included

Consolidated results include 44 subsidiaries across India and international locations (Denmark, Australia, Portugal, Uruguay, Spain, Romania, South Africa, Turkey, Sri Lanka, China, Mauritius, UK, Netherlands, Korea, Nicaragua)