Suzlon Q2 Results Preview: What Analysts at Anand Rathi, MOFSL, Nuvama & Geojit Are Seeing

Anand Rathi: Strong Growth Outlook

Anand Rathi expects Suzlon’s net profit to rise 36.4% year-on-year to around ₹287.7 crore, driven by robust execution and improved order flows.
Revenue is likely to jump 41% YoY to ₹2,970 crore, while EBITDA margin may hover around 17.9%.
However, the brokerage also flagged potential risks like execution delays due to monsoon and supply chain disruptions.

Nuvama: Focus on Margin Stability

Nuvama Institutional Equities anticipates Suzlon’s core PAT to grow 28% YoY to ₹257.5 crore and revenue to reach nearly ₹2,916 crore.
EBITDA is expected at ₹471 crore, reflecting stable operating efficiency.
Nuvama remains optimistic about Suzlon’s long-term growth but warns of short-term margin pressure from input cost fluctuations.

MOFSL: Conservative View

Motilal Oswal Financial Services (MOFSL) has taken a cautious stance, projecting a 1% YoY decline in profit despite 32% growth in revenue to ₹2,785 crore.
The firm believes Suzlon may face quarterly softness due to higher costs and possible project delays but still retains faith in its long-term turnaround.

Geojit: Bullish on Long-Term Potential

Geojit maintains a positive outlook, expecting Suzlon to deliver a 27% ROE by FY27 driven by higher volume growth and improved efficiency.
The brokerage sees potential for valuation re-rating as the company strengthens its order book and enhances profitability.

Key Themes to Watch in Q2 Results

1. Margins: Most expect margins around 17–18%; any improvement could trigger bullish sentiment.

2. Order Book: Continued inflows from NTPC, Adani Green, and Tata Power projects will validate growth visibility.

3. Execution Efficiency: Timely delivery remains crucial amid seasonal and logistical challenges.

4. Cost Management: Input cost control and forex management will influence quarterly profitability.

5. Valuation Outlook: A strong performance could support further stock re-rating in FY25–26.

Expert Takeaway

Analysts agree Suzlon’s fundamentals are strengthening, but quarterly volatility remains possible. The focus now shifts to margin consistency, execution, and order growth — key factors that could determine whether Suzlon sustains its impressive recovery trend.