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Leaders

Suzlon appoints Ajay Kapur as Group CEO

Suzlon Energy has appointed Ajay Kapur as its Group Chief Executive Officer and announced the formation of a new executive council as the renewable energy major sharpens its strategy to expand beyond its traditional wind power business.

Kapur, who previously served as Managing Director of Ambuja Cements, will take charge of driving the company’s overall growth, strengthening operational performance, and steering its diversification into emerging clean energy segments. The move is part of Suzlon’s broader effort to transform into a multi-business renewable energy solutions provider.

The newly constituted executive council will work closely with the leadership team to accelerate decision-making, improve cross-functional collaboration and support long-term value creation. The council brings together senior leaders from key verticals to focus on strategic priorities, including new technologies, project execution, and customer engagement.

Suzlon said the leadership restructuring comes at a time when India’s renewable energy sector is witnessing rapid expansion and increasing demand for integrated clean energy solutions. With a stronger balance sheet and a robust order book, the company is looking to scale operations, explore opportunities in hybrid and round-the-clock renewable projects, and enhance its service offerings.

Kapur brings over three decades of experience across cement, building materials and energy-intensive industries, with a track record in business transformation, cost optimisation and growth strategy. His expertise in managing large-scale operations and leading high-performance teams is expected to support Suzlon’s next phase of expansion.

Company Chairman Tulsi Tanti highlighted that the new structure will enable faster execution and sharper strategic focus as Suzlon aims to capture emerging opportunities in India’s fast-growing clean energy market.

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Corporate

Suzlon Energy Q3 revenue rises 42% to ₹4,228 cr

Suzlon Energy delivered a strong set of numbers in the third quarter of FY26, showing clear signs of operational recovery and balance-sheet strength. However, despite the improved performance, the market reaction remained subdued, with the company’s shares slipping after the results announcement.

For the quarter ended December 2025, Suzlon reported revenue of ₹4,228 crore, a sharp 42% increase year-on-year, supported by record wind turbine deliveries. The company executed 617 MW of projects during the quarter, its highest ever in a single quarter, compared to 447 MW in the same period last year. This reflects faster project execution and improved on-ground momentum.

Net profit for the quarter stood at ₹445 crore, marking a 15% rise from a year ago. Operating performance also improved, with EBITDA climbing to ₹739 crore, up nearly 48% year-on-year. Margins expanded to around 17.5%, indicating better cost efficiencies and operating leverage as volumes increased.

Suzlon’s order book remained healthy at 6.4 GW, even after large deliveries during the quarter. Of this, around 2.4 GW is under active execution, providing good revenue visibility for the coming quarters. The company also highlighted a strong project pipeline of over 25 GW, reflecting growing demand for wind energy amid India’s renewable push.

On the financial front, Suzlon ended the quarter with a net cash position of about ₹1,556 crore, underlining its improved balance sheet after years of stress. Management reiterated confidence in meeting its FY26 execution guidance, supported by stable demand and ongoing projects.

Despite these positives, Suzlon’s shares fell 4–5% on the day of the results. Analysts pointed out that investor sentiment was tempered due to a sequential dip in profit, as the previous quarter had benefited from a one-time tax gain. Some concerns also remain around project timelines, site readiness, and grid connectivity.

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