Suzlon Energy Q2 Results on October 29: Revenue May Cross ₹4,800 Crore, Analysts See Up to 100% Upside

Suzlon Energy shares are in focus ahead of the company’s second-quarter results for FY27, scheduled for October 29, 2026. Investors will be watching the company’s revenue growth, profit margins, wind turbine deliveries and management’s outlook for future business.

The stock has come under pressure in recent months, trading close to its 52-week low. However, brokerage firms remain largely optimistic about its long-term prospects, with some setting price targets that indicate significant potential upside from current levels.

Suzlon Energy Q2 Results 2026: Key Details

Suzlon Energy will announce its financial results for the quarter and half-year ended September 30, 2026, on Thursday, October 29.

Ahead of the announcement, the stock declined 1.7% to ₹36.77 on October 26. Its market capitalisation stood at around ₹50,000 crore.

The share price is close to its 52-week low of ₹36.30 and remains considerably below its 52-week high of ₹61.45, recorded in November 2025. The stock has also lost around 30% in 2026, based on the figures available ahead of the results.

The upcoming earnings announcement could influence investor sentiment, particularly as the market looks for signs of sustained growth and improving profitability.

Suzlon Q2 FY27 Results: What Are Analysts Expecting?

Brokerage estimates suggest that Suzlon could deliver strong year-on-year revenue growth in the September quarter. Higher wind turbine deliveries and a healthy order book are expected to support performance.

Here are the key estimates ahead of the results:

• Revenue: ₹4,670 crore to ₹4,815 crore
• EBITDA: ₹770 crore to ₹784 crore
• EBITDA margin: Around 16.1% to 16.6%
• Net profit: Approximately ₹459 crore to ₹578 crore

These figures represent analyst estimates, not the company’s reported results. Actual performance may differ depending on execution, costs, taxes and other factors.

JM Financial Expects Revenue Growth of 24%

JM Financial estimates Suzlon’s revenue at ₹4,815.1 crore for Q2 FY27, representing growth of 24% compared with the same quarter last year.

The brokerage expects net profit to reach ₹578.1 crore, up 3% year-on-year. Compared with the previous quarter, profit could increase by 49%.

EBITDA is projected at ₹783.9 crore, an annual increase of 9%. The estimated EBITDA margin stands at 16.3%.

JM Financial also expects wind turbine deliveries to reach 660 MW, compared with 565 MW in Q2 FY26 and 506 MW in Q1 FY27.

The estimates suggest that delivery growth could play an important role in Suzlon’s quarterly performance.

Anand Rathi Sees Revenue at ₹4,778 Crore

Anand Rathi Share and Stock Brokers expects Suzlon to report revenue of ₹4,777.7 crore, representing growth of 23.4% year-on-year and 24.8% quarter-on-quarter.

The brokerage projects net profit at ₹463.2 crore. This would represent an increase of 19.1% over the previous quarter but a decline of 17.5% compared with the corresponding period last year.

Anand Rathi also expects pressure on EBITDA margins compared with the year-ago quarter.

The estimates highlight an important factor for investors: revenue growth alone may not be enough if operating profitability remains under pressure.

Motilal Oswal Estimates Profit at ₹460 Crore

Motilal Oswal Financial Services expects Suzlon’s Q2 FY27 revenue to reach ₹4,670 crore, up 21% year-on-year.

The brokerage estimates wind turbine deliveries at 665 MW, an increase of 18% from the same quarter last year.

EBITDA is projected at ₹770 crore, representing annual growth of 7%. The estimated EBITDA margin is 16.6%.

However, Motilal Oswal expects net profit to decline 18% year-on-year to ₹459.6 crore.

The difference between revenue growth and estimated profit performance makes the company’s cost structure, margins and tax impact important areas to monitor when the results are announced.

Suzlon Energy Share Price Target: What Do Brokerages Say?

Brokerage recommendations remain largely positive despite the recent weakness in Suzlon shares.

According to the brokerage data cited ahead of the results, the stock is covered by several domestic and international research firms. Most of the listed analysts maintain Buy recommendations, although their target prices vary considerably.

The following targets were reported ahead of the October 29 results:

Brokerage	Rating	Target Price
JM Financial	Buy	₹46
Ambit	Buy	₹59
Systematix	Buy	₹63
Axis Capital	Buy	₹64
Motilal Oswal	Buy	₹65
Anand Rathi	Buy	₹65
ICICI Securities	Buy	₹65
UBS	Buy	₹66
Investec	Buy	₹67
Centrum Broking	Buy	₹74
Nuvama Institutional Equities	Hold	₹51

These are reported analyst targets, not guaranteed future prices. Ratings and estimates can change as new financial information becomes available.

Why Are Analysts Positive About Suzlon Energy?

Several factors could support the company’s business outlook.

1. Growing wind energy demand

India’s renewable energy expansion creates opportunities for wind power equipment manufacturers. Suzlon could benefit if project execution and customer demand remain strong.

2. Healthy order book

A strong order book can provide revenue visibility, although converting orders into actual deliveries and payments remains essential.

3. Higher turbine deliveries

Analysts expect deliveries to rise compared with the year-ago quarter. If achieved, higher volumes could support revenue growth.

4. Future growth opportunities

Investment in renewable energy infrastructure and demand for clean electricity may create opportunities over the longer term. The extent of Suzlon’s benefit will depend on execution, competition and project economics.

Key Risks Investors Should Watch

Despite the positive brokerage outlook, Suzlon shares are not without risks.

• Profitability: Revenue growth may not translate into higher net profit if operating costs or tax expenses increase.
• Execution: Delays in manufacturing, installation or project completion could affect quarterly performance.
• Share price volatility: The stock has experienced a significant decline from its previous high, indicating that investors should account for substantial price fluctuations.
• Valuation: Even a company with strong growth prospects can deliver disappointing stock returns if its valuation does not match future earnings.
• Analyst targets: The highest target price reflects an individual research estimate, not a certain outcome.

Investors should also examine cash flow, working capital, debt levels and management commentary rather than relying on revenue and profit estimates alone.

Suzlon Energy Q2 Results: What Should Investors Watch?

The October 29 earnings announcement will provide a clearer picture of the company’s financial performance during the September quarter.

Investors should focus on four major indicators: actual revenue compared with estimates, EBITDA margins, net profit growth and wind turbine deliveries. Management’s comments on order execution and future demand could also influence expectations.

Although some brokerage targets suggest substantial upside from the prevailing share price, the gap between the current market price and those targets should not be interpreted as a promise of returns.

Suzlon Energy enters its Q2 FY27 results with high expectations for revenue growth but mixed forecasts for net profit. The actual numbers, margin performance and management’s outlook will be important in determining how the market reacts.

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Disclaimer: This article is for informational and educational purposes only and is not investment advice. Brokerage estimates and price targets are subject to change. Investors should conduct their own research or consult a registered financial adviser before making investment decisions.