Overview
- Suzlon reported a 6% drop in March‑quarter net profit to Rs 1,114 crore and delivered about 830 MW in Q4, taking FY26 deliveries to roughly 2,456 MW.
- Brokerages published post‑quarter targets in a band of about Rs 55–75 with several houses keeping Buy calls while Nuvama downgraded the stock to Hold and kept a Rs 55 target.
- Company management disclosed a potential deferred tax asset of around Rs 3,000–3,500 crore that could raise reported equity value if recognised over time.
- Analysts flagged worsening working capital and delayed project commissioning, especially on PSU jobs, which has raised interest costs and is pressuring cash conversion.
- Broader industry changes — rising solar, hybrid and battery projects — could slow wind additions to about 8–10 GW over the next two to three years and make Suzlon’s shift to more EPC work a cash‑intensive tradeoff to watch.