Suzlon Energy Q1 FY27 Results: Revenue Up 23%, Profit Down 6%

Suzlon Energy Limited reported consolidated Q1 FY27 results for the quarter ended 30 June 2026 on 28 July 2026. Q1 FY27 numbers (consolidated): Revenue: Rs 3,819.36 crore, up 22.5% YoY from Rs 3,117.33 crore EBITDA: Rs 585 crore, flat YoY; margin 15.32% vs 18.74% PAT: Rs 305.22 crore, down 5.9% YoY from Rs 324.32 crore; EPS Rs 0.22 Deliveries: 506 MW, a Q1 record, up 14% YoY Order book: 6.1 GW, with about 1 GW added in the quarter Margin pressure came from geopolitical logistics disruptions, upfront investments under Suzlon 2.0 and project mix. Net cash stood at Rs 2,322 crore. The company has appealed the Rs 28.95 crore SEBI penalty at SAT. Suzlon Energy [][***** shares closed at Rs 47.04 on 18 August 2026, down 10 percent over the past month and 24 percent over one year, near the 52-week low zone of Rs 46 against a high of Rs 60.71. Headline trailing P/E is 20.5. My view: the first results name this season where price has corrected into the story instead of ahead of it. Two honest caveats: the 20x headline flatters, trailing profit carries deferred tax credits and on Q1 annualised the multiple is nearer 53x; and the SEBI matter stays an overhang until SAT decides. The case is H2: wind execution is second-half weighted, the 6.1 GW book funds it, and net cash removes balance sheet risk. For patient capital only, Rs 46 to 48 is a staggered accumulation band with strict invalidation on a close below Rs 46. Reclaim marker: the June zone of Rs 55 to 57. No chase; the position builds only if margins recover toward high teens in H2. Disclosure: Vijay Kumar Gupta, SEBI Registered Research Analyst, INH000020226, Vijay Gupta Advisory. SEBI registration and NISM certification do not guarantee performance or assure returns. Securities markets are subject to market risks. No holdings in the subject company.