Interim report
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29th October 2026. National Stock Exchange of India Limited, “Exchange Plaza”, Bandra-Kurla Complex, Bandra (East), Mumbai-400051. BSE Limited, P.J. Towers, Dalal Street, Mumbai-400001. Dear Sirs, Sub.: Outcome of the Board Meeting dated 29 th October 2026. Ref.: Regulation 30 of the Securities and Exchange Board of Ind ia (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the “Listing Regulations”). This is to inform that the Board of Directors of the Company (the “Board”), at its Meeting held on 29th October 2026 (which commenced at 12.00 p.m. (IST) and concluded at 3.30 p.m. (IST)), has, inter alia, approved the following: 1) Unaudited Limited Reviewed Financial Results of the Company on standalone and consolidated basis for the quarter and six months ended on 30th September 2026. Enclosed please find the copy of the said results and the copy of the Limited Review Reports (standalone and consolidated) dated 29 th October 2026. Also find enclosed, a copy of the press release and the investors’ presentation in this regard, the copy of both of which are avai lable on the website of the Company (www.suzlon.com). 2) Acquisition of 1,00,000 equity shares of Rs.10/- each represent ing 100% of the equity share capital of Suzlon Foundation Limited (CIN: U74900GJ2007NPL052449) (“Suzlon Foundation”) for an aggregate consideration of Rs.10 Lacs. Upon completion of the acquisition Suzlon Foundation would become a wholly owned subsidiary of the Company. The details as required under the Regulation 30 of the Listing Regulations read with SEBI Circular No.SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13 th July 2023 (“SEBI Circular”) are set out in Annexure A enclosed herewith. 3) An investment of up to Rs.1 Crore in OE Business Park Private L imited (CIN: U41001MH2024PTC430423) (“OEBPPL”). Post completion of such investment, OEBPPL would become a subsidiary of the Company. The details as required under the Regulation 30 of the Listing Regulations read with SEBI Circular are set out in Annexure B enclosed herewith. 4) Revision in the Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information in terms of Regulation 8 of the Securities and Exchange Board o f India (Prohibition of Insider Trading) Regulations 2015, to be effective from 1st November 2026. A copy of the said Code is enclosed herewith as Annexure C and is also available on the website of the Company (www.suzlon.com). This is for your information as also for the information of your members and the public at large. Thanking you, Yours faithfully, For Suzlon Energy Limited Geetanjali S.Vaidya, Company Secretary. Encl.: As above.
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Annexure A Details with respect to acquisition of Suzlon Foundation (in terms of under Regulation 30 and Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with the SEBI Circular a. Name of the target entity, details in brief such as size, turnover, etc. Suzlon Foundation (“Target Company” or “SF”) CIN: U74900GJ2007NPL052449 SF is a company incorporated under the provisions of the Companies Act, 1956 and is a Section 8 not-for- profit company in terms of the Companies Act, 2013 having CSR Registration No.CSR00003382. b. Whether the acquisition would fall within related party transaction(s) and whether the promoter / promoter group / group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length” Yes, SF has become a related party by virtue of induction of Key Management Person of Suzlon Energy Limited on the Board of SF. Post completion of acquisition, SF would become a wholly owned subsidiary of the Company. SF is not related to the promoter / promoter group / group companies of the Company. c. Industry to which the entity being acquired belongs SF is a Section 8 not-for-profit company in terms of the Companies Act, 2013 d. Objects and impact of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity) In view of the consistent profits, CSR spending of the Company is on rise. To manage and scale the Company’s long-term CSR initiatives effectively as also to ensure greater control and better governance, it is proposed to acquire 100% shareholding of SF and thus make it as a wholly owned subsidiary of the Company. Post acquisition, the Company would continue to undertake CSR spending for the Company and the entire Group through SF. e. Brief details of any governmental or regulatory approvals required for the acquisition None f. Indicative time period for completion of the acquisition By first week of November 2026 g. Consideration - whether cash consideration or share swap or any other form and details of the same Cash consideration h. Cost of acquisition and/or the price at which the shares are acquired The Company proposes to acquire 1,00,000 equity shares of Rs.10/- each of SF from the existing shareholders of SF for cash at par aggregating to Rs.10,00,000 /- (Rupees Ten Lacs Only). i. Percentage of shareholding / control acquired and / or number of shares acquired 100.00% j. Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief); Activity - Carrying out welfare and charitable activities Date of Incorporation - 27th December 2007 Country of incorporation – India Income / Receipt for last three years FY 26 – 16.39 Crores FY 25 – 8.51 Crores FY 24 – 4.50 Crores
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Annexure B Details with respect to acquisition of OE Business Park Private Limited (in terms of under Regulation 30 and Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with the SEBI Circular a. Name of the target entity, details in brief such as size, turnover, etc. OE Business Park Private Limited (“OEBPPL”) CIN: U41001MH2024PTC430423 b. Whether the acquisition would fall within related party transaction(s) and whether the promoter / promoter group / group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length” No c. Industry to which the entity being acquired belongs Real Estate / Property Management d. Objects and impact of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity) U p o n e x e r c i s e o f t h e C a l l O p t i o n i n t e r m s o f t h e O p t i o n Agreements, the Company is required to subscribe and hold ~99% of the equity share capital of OEBPPL. Upon such exercise and subscription, the Company will indirectly, through OEBPPL, hold the One Earth premises, which is the corporate headquarters of the Company e. Brief details of any governmental or regulatory approvals required for the ac quisition N.A. f. Indicative time period for completion of the acquisition In Q3 FY27 g. Consideration – whether cash consideration or share swap or any other form and details of the same Cash consideration by way of subscription to the paid-up capital of OEBPPL h. Cost of acquisition and / or the price at which the shares are acquired Approximately Rs.1 Crore i. Percentage of shareholding / control acquired and / or number of shares acquired Approximately 99% j. Brief background about the entity acquired in terms of products / line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief) Activity – Property management and leasing. Date of Incorporation – OEBPPL is a private limited company incorporated on 9 th August 2024 with an authorised share capital of Rs.15,00,000/- and a paid- up share capital is Rs.1,00,000/-. OEBPPL is a special purpose vehicle, whose shares are held by funds managed by 360 ONE Alternate Asset Management Limited. In September 2024, the Company executed a conveyance deed with OEBPPL for sale of One Earth property. On completion of the sale, the One Earth property was leased back to the Company for 5 (five) years with sub-leasing and licensing rights. The Company had also entered into Option Agreement(s) wherein call option has been provided to the Company on the shares and securities issued by OEBPPL to enable the Company to retain the economic benefit of One Earth property in the future. OEBPPL was incorporated in August 2024 and hence turnover of OEBPPL for last two years is provided hereunder: FY 26 – Rs.58.1 Crores FY 25 – Rs.33.8 Crores.
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ANNEXURE C SUZLON ENERGY LIMITED CODE OF PRACTICES AND PROCEDURES FOR FAIR DISCLOSURE OF UNPUBLISHED PRICE SENSITIVE INFORMATION 1. History of the Code Date of Board approval Particulars Effective Date 14th May 2015 Code of Fair Disclosure amended as required to be amended in terms of Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 14th May 2015 27th March 2019 Code of Fair Disclosure amended as required to be amended in terms of Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations 2018 by adding policy for determination of Legitimate Purpose. 1 st April 2019 31st January 2024 Code of Fair Disclosure amended in terms of periodic review 31st January 2024 29th October 2026 Code of Fair Disclosure amended in terms of periodic review 1st November 2026 2. Purpose of this Code 2.1 Suzlon Energy Limited (“SEL or the “Company”) has adopted this Code in terms of Regulation 8(1) of Securities and Exchange Board of India (Proh ibition of Insider Trading Regulations), 2015. 2.2 The purpose of this Code is to lay down practices and procedure s for fair disclosure of unpublished price sensitive information. 3. Applicability of this Code 3.1 This Code applies to the Company. 4. Definitions Unless repugnant to the context: 4.1 “Applicable Laws” shall mean the Securities and Exchange Board of India (Prohibition of Insider Trading Regulations), 2015, as amended or modified from time to time, which are / may be applicable for the purposes of this Code. 4.2 “Board” or “Board of Directors” shall mean the board of directors of the Company. 4.3 “Code” or “this Code” or “Code for Fair Disclosure” shall mean the Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information. 4.4 “Company” or “SEL” shall mean Suzlon Energy Limited.
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4.5 “Insider” shall have the meaning as assigned to it under the Insider Trading Code and as defined under the SEBI PIT Regulations. 4.6 “Insider Trading Code” shall mean the Code of Conduct to Regulate, Monitor and Report Trading by Insider of the Company formulated in terms of Regulation 9 of the SEBI PIT Regulations. 4.7 “Legitimate Purpose” shall have t he same meaning as defined und er SEBI PIT Regulations and shall include sharing of Unpublished Price Sensitive Information in the ordinary course of business by an Insider with partners, collaborators, lenders, customers, suppliers, merchant bankers, lega l advisors, auditors, insolven cy professionals or other advisors or consultants, provided that such sharing has not bee n carried out to evade or circumvent the prohibitions of the Regulations. 4.8 “SEBI” shall mean the Securities and Exchange Board of India. 4.9 “SEBI PIT Regulations” shall mean the Securities and Exchange B oard of India (Prohibition of Insider Trading) Regulations, 2015, as amended from time to time, together with the circulars issued thereunder, including any st atutory modification(s) or re-enactment(s) thereof for the time being in force. 4.10 “Unpublished Price Sensitive Information” or “UPSI” shall mean any information which relates to the Company or its s ecurities, directly or indirectl y, that is not generally available which upon becoming generally available, is likely to materially affect the price of the securities of the Company and shall, ordinarily includin g but not be restricted to, information relating to the following: a. financial results; b. dividends; c. change in capital structure; d. mergers, de-mergers, a cquisitions, delistings, disposals and ex pansion of business, award or termination of order / contracts not in the normal cou rse of business and such other transactions; e. changes in key managerial personnel other than due to superannuation or end of term, and resignation of a Statutory Auditor or Secretarial Auditor; f. change in rating(s), other than ESG rating(s); g. fund raising proposed to be undertaken; h. agreements, by whatever name called, which may impact the management or control of the Company; i. Fraud or Defaults by the Company, its promoter, director, key m anagerial personnel, or subsidiary or arrest of key ma nagerial personnel, promoter o r director of the Company, whether occurred within India or abroad “Fraud” shall have the same meaning as defined under SEBI (Proh ibition of Fraudulent and Unfair Trade Practices rel ating to Securities Ma rket) Regulations, 2003, and “Default” shall have the same meaning as referred to in Clause 6 of Paragraph A of Part A of Schedule III of SEBI (Listing Obligati ons and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”). j. resolution plan / restructuring or one-time settlement in relation to loans / borrowings from banks / financial institutions; k. admission of winding-up petition filed by any party / creditors and admission of application by the Tribunal filed by the corporate applicant or financial creditors for initiation of corporate insolvency resolution process against t he Company as a
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corporate debtor, approval of resolution plan or rejection thereof under the Insolvency and Bankruptcy Code, 2016; l. initiation of forensic audit, by whatever name called, by the C ompany or any other entity for detecting misstatement in financials, m isappropriation / siphoning or diversion of funds and receipt of final forensic audit report; m. action(s) initiated or orders passed within India or abroad, by any regulatory, statutory, enforcement authority or judicial body against the Company or its directors, key managerial personnel, promoter or subsidiary, in relation to the Company; n. outcome of any litigation(s) or dispute(s) which may have an impact on the Company; o. giving of guarantees or indemnity or becoming a surety, by what ever named called, for any third party, by the Company not in the normal course of business; and p. granting, withdrawal, surrender, cancellation or suspension of key licenses or regulatory approvals. The information specified above shall be identified as UPSI bas ed on the guidelines for materiality referred at Paragraph A and B, of Part A of Schedul e III of Listing Regulations, as may be specified by SEBI from time to time. 4.11 Interpretation – In this Code, words and expressions used but n ot defined herein, but defined in the Applicable Laws, shall have the same meanings as respectively assigned to them under the Applicable Laws. 5. Review of the Code and disclosure requirements 5.1 T h i s C o d e h a s b e e n i m p l e m e n t e d w . e . f . 1 4 th May 2015 and has been subsequently approved, amended and adopted from time to time with latest amendment effective from 1st November 2026. 5.2 This Code shall be disclosed on the website of the Company and a weblink may be provided in the Annual Report. 5.3 The Board will review this Code o n a periodic basis to ensure i ts effectiveness and also compliance with the Applicable Laws. 5.4 This Code is subordinate to the SEBI PIT Regulations and in the event of inconsistency between this Code and the SEBI PIT Regulations (including due t o subsequent amendments to the SEBI PIT Regulations), the provisions of the SEBI PIT Regulations will prevail. 5.5 The Board shall have the power to amend any of the provisions o f this Code, substitute any of the provisions with a new provision or replace the Code entirely with a new Code. The amended Code shall also be promptly intimated to the stock exchanges. 6. Principles of Fair Disclosure for purposes of this Code The Company shall ensure: a. Prompt public disclosure of Unpu blished Price Sensitive Information that would impact price discovery no sooner than credible and concrete informatio n comes into being in order to make such information generally available. b. Uniform and universal dissemination of Unpublished Price Sensitive Information to avoid selective disclosure.
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c. Designation of a senior officer as Chief Investor Relations Off icer to deal with dissemination of information and disclosure of Unpublished Price Sensitive Information. d. Prompt dissemination of Unpublis hed Price Sensitive Information that gets disclosed selectively, inadvertently or otherwise to make such information generally available. e. Appropriate and fair response to queries on news reports and re quests for verification of market rumours by regulatory authorities. f. Ensuring that information shared with analysts and research personnel is not Unpublished Price Sensitive Information. g. Developing best practices to make transcripts or records of proceedings of meetings with analysts and other investor relations conferences on the official website to ensure official confirmation and documentation of disclosures made. h. Handling of all Unpublished Price Sensitive Information on a need-to-know basis. 7. Dissemination of information 7.1 The Company’s Chief Executive Of ficer, in consultation with the Chief Financial Officer, the Compliance Officer or the Company Secretary of the Company, shall deal with the dissemination of information and disclosure of Unpubli shed Price Sensitive Information. The Chief Financial Officer for the purposes of this clause shall be deemed as “Chief Investor Relations Officer”. 8. Policy for determination of Legitimate Purpose 8.1 Under SEBI PIT Regulations, all information shall be handled within the Company on a need-to-know basis and no person shall communicate, provide or allow access to any UPSI and / or no person shall procure from or cause the communi cation by any Insider of any UPSI, except in furtherance of the Legitimate Purpose, p erformance of duties or discharge of legal obligations. 8.2 Sharing of UPSI in its ordinary course of business pursuant to a Legitimate Purpose: a. Any person who is in receipt of UPSI pursuant to a Legitimate P urpose shall be considered as an Insider for the purpose of the Code and the SEBI PIT Regulations. b. the Company shall give due notice to such persons to: (i) make such person aware that the information shared is or would be UPSI. (ii) make such person aware of the duties and responsibilities attac hed to the receipt of such UPSI and the liability attached to misuse or unwarranted use of such UPSI. (iii) instruct such person to maintain confidentiality of such UPSI. c. Such person has to ensure compliance with the SEBI PIT Regulations. 8.3 The Chief Executive Officer or the Chief Financial Officer shal l decide on whether an item constitutes a Legitimate Purpose or not on a case-to-case basis. 8.4 In the event of lack of clarity on whether an item constitutes a Legitimate Purpose or not, the person sharing the information shall forward the matter for determination by the Chief Executive Officer or the Chief Financial Officer, who shall decide on the matter.
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9. Maintenance of Structured Digital Database 9.1 The Company shall maintain a str uctured digital database contai ning the nature of Unpublished Price Sensitive Information, the names of such persons who have shared the information and also the names of such persons with whom inform ation is shared under this Code or the Regulations along with the Permanent Account N umber or any other identifier authorised by law where Permanent Account Number is not available. 9.2 Such database shall not be outsourced and shall be maintained i nternally with adequate internal controls and checks su ch as time stamping and audit tr a i l s t o e n s u r e n o n - tampering of the database. *****
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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 SUZLON ENERGY LIMITED CIN : L40100GJ1995PLC025447 "SUZLON". 5, SHRIMALI SOCIETY . NEAR SHRI KRISHNA COMPLEX , NAVRANGPURA, AHMEDABAD-380009 STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026 Quarter ended Half year ended Particu lars September 30, June 30, September 30, September 30, Sept ember 30, 2026 2026 202S 2026 2025 ( Unaud ited) (Unaudited) (Unaudited) (Unaudited) ( Unaudited) Income a) Revenue from operations 4,869 .05 3,819.36 3,865.54 8,688.41 6,982.87 b) Other operating income 6.65 9.73 5.24 16.38 19.63 c) Other incom e 32.34 33.44 26 .55 65.78 60.02 Tot~I income 4,908.04 3,862.53 3 ,897.33 8,770.57 7 ,062.52 Expenses a) Consumption of raw materials, compone nts consumed and services rendered 3,304.59 2,942.39 2,428.27 6,246 .98 4,891.95 b) Purchase of stock -in-trade - - c) Changes in invento ries of fini shed goods , semi-fini shed goods and work- in- progress 33.86 (445.71) (1.59 ) (41 1.85) (551.59) d) Emplo yee benefits expense 289.65 268.00 291.33 557.65 545.35 e) Finance cost 122.58 133.62 109.66 256.20 212. 73 f) Depreciation and amortisation expense 111.37 105.5 9 75.23 216.96 145.4 7 g) Foreign exchange loss/ (gain) 10.01 8.79 6.47 18.80 10.27 h) Other expenses 5 17.77 460.38 425.46 978.15 786 .61 Total expenses 4,389.83 3,473.06 3, 334.83 7, 862.89 6, 040.79 Profit before exceptional items and tax (1 -2) 518.21 389.47 562.50 907.68 1, 021.73 Except ional items loss/ ( gain) - Profit before tax (3 - 4) 518.21 389.47 562.50 907.68 1, 021.73 Tax expenses a) Current tax 5 .53 0.55 1.24 6 .08 2.05 b) Deferred tax 118 .53 83 .70 (718 .18) 202 .23 (584.08) Net profit after tax ( 5 - 6) 394.15 305.22 1, 279.44 699.37 1,603.76 Share of profit/ (loss) of associate and joint ventures - Net profit for the period (7 + 8) 394.15 305 .22 1, 279.44 699.37 1,603.76 Other comprehen sive income / (loss), net of tax a) items that will not be reclass ified to profit and loss (1.0 9) (0.87) (2.16) (1.96) (3 .31) b) items that will be reclassifed to prof it and loss (0.54 ) (0 .36) 0.38 (0 .90) 6 .57 Total comprehensive income, net of tax (9+10) 392.52 303.99 1, 277.66 696.51 1,607.02 Net profit for the period attributable to: Owners of the Company 394. 15 305.22 1,279.44 699 .37 1,603.76 Non-controlling interest Other comprehensive income / (loss) for the period attributable to: Owners of the Com pany (1.63) (1.23) (1.78) (2 .86) 3.26 Non-controlling interest - - Total comprehensive income for the period attributable to: Owners of the Company 392.52 303.99 1,277 .66 696.51 1,607.02 Non-con t rolling interest - - - Paid up equity share capital (Face value of i 2/- each) 2,751.30 2,750.61 2,743 .76 2,751.30 2,743.76 Other equity (excluding revaluation reserve ) Earnings per equi ty share (EPS) (•not annualised ) - Basic ci) •0.29 •0.22 •0.93 •o.51 •1.17 - Dilut ed (i) *0.29 *0.22 · 0.93 *0.51 * 1.17 It in croresl Year ended March 31, 2026 (Audited ) 16,679 .11 52.73 109.94 16,841.78 11,433.58 (630.86 ) 1,100.47 462.15 318.45 39.81 1,766.46 14,490.06 2,351.72 (70.00) 2,421.72 7.56 (749.23) 3 , 163.39 3 , 163.39 1.07 6 .94 3 ,171.40 3, 163.39 8.01 - 3,171.40 2,744.99 6 ,71 8 .53 2.31 2.31 1 of 7
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1 2 3 4 5 6 7 8 9 10 11 12 SUZLON ENERGY LIMITED CIN l 40100GJ1995PLC0 25447 "SUZLON" , 5, SHRIMALI SOCIETY. NEAR SHRI KRISHNA COMP LEX, NAVRANGP URA. AHMEDABAD-380009 STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR EN DED SEPTE MBER 30, 2026 Quarter ended Half year ended Particulars Septembe r 30, June 30, September 30, September 30, September 30, 2026 2026 2025 2026 2025 (Unaud ited ) ( Unaud ited ) (Unaudited) (Unaudited ) (Unaudited ) Income a) Revenue from operations 4,210.29 3,291.90 3,476.41 7,502 .19 6,320 .30 b) Other operating incom e 6.42 5.48 4.19 11.90 7.90 c) Other income 40.74 43.23 27.74 83.97 57.13 Tot a l income 4 , 257.45 3 ,340.61 3, 508.34 7, 598 .06 6, 385 .33 Expenses a) Consumption of raw materials, component s consumed and services rendered 2,912 .07 2,645.24 2,152 .15 5,557.31 4,450.68 b) Purchase of stock-in-trade c) Changes in inventories of finished goods, semi-fi nished goods and work- in- progr ess 77.67 (415 .34) 40.72 (337.67 ) (475.25) d) Employee benefits expense 202 .24 173.31 207.05 375 .55 391.02 e) Finance cost 112.30 122.59 99 .19 234.89 192.19 f) Depreciat ion and amortisation expense 76.77 71.99 43.11 148.76 82.01 g) Foreign exchange loss / (gain) 10.87 9.53 34.61 20.40 59.94 h) Other expenses 391.81 350.37 320 .97 742.18 594.18 Total expenses 3, 783.73 2, 957.69 2, 897.80 6 ,741.42 5 ,294 .77 Profit /(loss) before exceptional items and tax (1-2 ) 473.72 382.92 6 10.54 856 .64 1,090.56 Exceptional items loss/ (gain) 41.85 40.14 Profit before tax ( 3 - 4) 473.72 382.92 568.69 856.64 1, 050.42 Tax expenses a) Current tax - b) Deferred tax 103.83 76.48 (717 .91) 180.31 (583 .53) Net profit after tax (5 - 6) 369.89 306.44 1,286.60 676.33 1, 633.95 Other comprehensive incom e/ (loss), net of tax a) items that will not be reclassified to profit and loss (0.45) (0.62 ) ( 1.92) (1.07) (2.74) b) items tha t will be reclassifed to profit and loss Total comprehensive income , net of tax (7 + 8) 369.44 305.82 1,284.68 675.26 1,631.21 Paid up equity share capital (Face value of < 2/- each ) 2,751.30 2,750.61 2,743.76 2,751.30 2,743 .76 Other equity (excluding revaluation reserve) Earnings per equi ty share (EPS) (*not annualised) - Basic(<) *0.27 *0.22 •0.94 *0.49 *1.19 - Dilu ted (<) *0.27 *0.22 ·0.94 *0.49 *1.19 ( il' in crores l Yea r ended March 3 1, 202 6 (Audited ) 15,0 53.58 37.95 154. 13 15, 245 .66 10,590.21 (482. 72) 767.95 41 7.74 189.65 54.38 1,339.90 1 2, 877.11 2, 368.55 (1,178.40) 3, 546.9 5 (564.06 ) 4, 111. 0 1 1.34 4, 112.35 2,744 .99 7,082.76 3.00 3.00 2 of 7
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~ SUZLON ENERGY LIMITED CIN : L40100GJ1995PLC025447 "SUZLON" . 5. SHRIMA LI SOCIETY . NEAR SHRI KRISHNA COMP LEX. NAVRANGPURA. AHMEDABA0-380009 The above results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on October 29, 2026. The sta tutory auditors of the Company hav e carried out a limi ted revi ew of the above results for the quarter and half year ended September 30, 2026. 2 The Securities Issue Committee of the Board of Directors of the Company approved allotment of equity shares of the Company in dematerialised form having a face value of t 2/- for cash at a premium to the option grantees, pursuant to exercise of the options granted to the eligible employees of the Company and its subsidia ries in terms of the Employee Stoc k Options Plan 2022 (ESOP 2022 ) during the quarter and till adoption of this results as under : a. Approved allotment of 1,91,250 equi:y shares aggregating tot 9,56,250 /- on July 09, 2026 (Grant 1 @ t 5/- per share); b. Approved allotment of 3,53,032 equi:y shares aggregat ing to< 1,05,90 ,960/- on July 09, 2026 (Grant 2@ < 30/ - per share); c. Approved allotment of 4,71,146 equity shares aggregating to< 1,88,45,840 / - on July 09, 2026 (Grant 5@, 40/- per share); d. Approved allotment of 75,000 equity shares aggregat ing to < 3,75,000 / - on August 10, 2026 (Grant 1 @ t 5/ - per share); e. Approved allotment of 16,46,720 eqLity shares aggregating to< 4,94,01,600/- on August 10, 2026 (Grant 2 @ < 30/ - per share) ; f. Approved allotment of 1,02,000 equity shares aggregating to < 40,80,000/- on August 10, 2026 (Grant 5@ < 40/ - per share ); g. Approved allotment of 80,000 equity shares aggregating to< 4,00,000 /- on Septembe r 18, 2026 (Grant 1 @ , 5/- per share ); h. Approved allotment of 4,09,752 equi:y shares aggregat ing to< 1,22,92,560/- on Septembe r 18, 2026 (Grant 2@ < 30/- per share); i. Approved allotment of 1,50,974 equit,' shares aggregat ing to< 60,38,960/ - on September 18, 2026 (Grant 5 @ , 40/- per share ); j. Approved allotment of 25,000 equity ;hares aggregating to< 1,25,000/- on October 21, 2026 (Grant 1 @ < 5/- per share); k. Approved allotment of 3,00,000 equity shares aggregating to < 90,00,000/- on Octobe r 21, 2026 (Grant 2 @ < 30/ - per share ); I. Approved allotment of 21,000 equity shares aggregating to < 8,40,000/- on October 21 , 2026 (Grant 5@ < 40/ - per share). 3 SEBI, by its order dated May 29, 2026, imposed a pena lty of< 15.95 crore on the Company in relation to certai n specifi ed transactions with its domestic subsidiaries and t he disclosu re of contingent liabilities for FY 2013 -14 to FY 2017 -18. The Securities Appellate Tri bunal (SAT) has admitted the Company's appeal and stayed the orde r. The next hearing ,son January 28, 2027. Based on external legal advice , manageme nt believes that the Company has a strong case on merits , and there is no impact on these results. 3 of 7
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4 Consolidated segment reporting: SUZLON ENERGY LIMITED CIN . L40100GJ1995PLC025447 "SUZLON" . 5. SHRIMALI SOCIETY , NEAR SHRI KRISHNA COMPLEX, NAVRANGP URA. AHMEDABAD-380009 During the half year, the Group aligned the nom enclature of certa in reportable segment s wi th its strategic v ision 'Suzlon 2.0'. Accordi ngly, the 'Wind Turb ine Generator' segment has been rena med 'Renewa ble Energy Solutions ' and the 'Operation & Maintenance Serv,ce ' segment has been renamed 'RE Asset Managemen t Services'. The Renewab le Energy Solutio ns segment com prises the Group's existing wind energy solutions business together with emerging renewable energy solution offerings curr ent ly being deve loped and managed within the erstwh ile Wind Turbine Generator segme nt. This change in nomenclature does not affect the identific ation or composition of reportable segme nts, or the manner in which the Chief Operating Decision Maker reviews and assesses performance , and accord ingly th ere is no impact on amounts previous ly reported. f'¥ in ,,_...._rPc::l Quarter ended Half ye ar ended Year ended Particulars September 30, June 30, September 30, Septembe r 30, September 30, March 3 1, 2026 2026 2025 2026 2025 2 026 /Unaudited) /Unaudited\ fUna udited l Segment Revenue /Unaudited ) (Unaudited ) /Audited ) a) Renewable Energy Solutions 4,211.56 3,174 .31 3,240.56 7, 385 .87 5,735 .13 14,040.1 9 b) RE Asset Management Services 639.63 631.88 575.01 1,2 71. 51 1, 159 .46 2,48 3.8 5 c) Foundry & Forging 167.15 125.86 120.80 293. 0 1 267.29 596.49 d) Others 3.07 2.20 3.24 5.27 4.85 7. 90 Total 5, 021.41 3, 934.25 3, 939.61 8, 955.66 7,166.73 17, 128.43 Less: Inter segment revenu e 152.36 114 .89 74.07 267.25 183.86 449 .32 Income from operations 4 869.05 3 819.36 Segment Results 3 ,865.54 8 688.41 6, 982.87 16 679.11 a) Renewable Energy Solution s 370.54 264.37 478 .21 634 .9 1 81 6.72 1,853 .79 b) RE Asset Management Services 220.39 212.06 145.48 432.45 315.32 75 9 .23 c) Foundry & Forging 15.20 11. 74 20 .71 26.94 40.34 86.2 7 d) Others 2.32 1.48 1.21 3.8 0 2 .06 4 .64 Adjus ted for: a. Other income (32.34) (33.44 ) (26.55 ) (65 .78 ) (6 0.02 ) (10 9.94 ) b. Finance cost 122 .58 133.62 109 .66 256 .20 212.73 46 2.15 c. Exceptional items loss/ (g ain) - - - (70 .00 ) Profit / (loss) before tax 518.21 389.47 562 .50 907.68 1, 021.73 2,421.72 Segment assets a) Renewable Energy Solutions 13,380.66 12,064.4 4 9,8 49.46 13,380.66 9 ,849.46 11 ,9 20.76 b) RE Asset Management Services 2,342.48 2 ,229.94 2,193.05 2,342.48 2,193. 05 2,1 27.2 1 c) Foundry & Forging 545.37 533 .09 616 .62 545 .37 616 .62 578. 00 d) Others 16 .64 1 5.38 14. 85 16.64 14 .85 15 .55 e) Unallocable 3,720.43 4,044.89 3,181.66 3 ,720.43 3 181.66 4 227.3 4 Total assets 20 005.58 18 887.74 15 855 .64 20 005 .58 15,855.64 18 868.86 Segment liabilities a) Renewable Energy Solutions 8,4 20.46 7,771.71 6,592 .71 8,420.46 6, 592.71 8,250.64 b) RE Asset Management Services 853.00 843.82 909.36 853.00 909.36 757.45 c) Foundry & Forging 128.19 125 .23 173.14 128 .19 173.14 132. 62 d) Others - - e) Unallocable 326.99 277.95 320.39 326.99 320.39 264.63 Total liabilities 9, 728.64 9, 018.7 1 7 995.60 9 728.64 7 995.60 9 405.34 4 of 7
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SUZLON ENERG Y LIMITED CIN . L40100GJ1995PLC025447 "SUZLON". 5. SHR IMALI SOC IETY . NEAR SHR I KRISHNA COMPLEX. NAVRANGPURA. AHMEDABAD-380009 5 Statement of assets and liabilities : It in crores l Standa lone Conso lidated As at As at As at As at Particulars Sept ember 30, March 31, September 30, March 31, 2026 2026 2026 2026 (Unaudited) (Audited) ( Unaudited ) ( Audited \ Ass ets Non-current assets Property, plant and equipment 816.22 758.81 1,079.96 1,018 .76 Right -of-use assets 352.26 293 .96 403.01 341.15 Capital work-in-prog ress 73.48 137.88 122. 71 176.32 Investment properties 23 .53 24.19 23.53 24 .19 Goodwill . 479.83 479 .83 Other intangible assets 189.45 155.33 424 .19 431.69 Intangible assets under developr,e nt 9.85 13.57 9.93 13.65 Financia l assets Inves tments 2,08 7.01 2,123.28 0.03 0.03 Trade receivab les 217.31 217.3 1 2 ! 7.31 217.31 Loans 430 . 79 525.64 4 55 4.56 Ot her fin ancial assets 1,139.37 1,179.90 1,269.10 1,227.71 Oeferred tax assets 1,021.81 1,202 .11 1,192.21 1,394.41 Other non-current assets 27.99 30.20 40.96 38.49 Total non-cur rent assets 6 389 .07 6,662.18 5 267.32 5 368.10 Current assets Inventories 4,321.05 3,557.49 5,46 1.21 4,511.84 Financial assets Investments 310 .58 213.89 313 .55 216.76 Trade receivables 6,168 .67 5,741.95 6, 786.34 6,269.22 Cash and cash equivalents 310.92 297.67 422.60 630 .97 Bank bal ance other than above 356.63 575.27 408 . 70 614.73 Loans 6 0.77 133.07 0.20 2.51 Other financial assets 24 2.18 201.99 248.33 224.78 Current tax asset, net 42.29 99.49 59.56 115.05 Other curren t assets 655.44 601. 78 l 037 .77 914.90 Total current assets 12 468.53 11422.60 14 738.26 13 500 .76 Total assets 18 857.60 18 084.78 20 005.58 18,868.86 Equity and liabilities Equity Share capital 2,75 1.30 2,744 .99 2,751.30 2,744.99 Other equit y 7,868 .63 7,08 2.76 7,525.64 6, 718.53 Non -controlling interest Total equity 10 619 .93 9 827 .7 5 10 276.94 9 463.52 Non-current liabilitie s Financial liabi lities Borrowing s . 95.54 102.95 Lease liabilities 296 .76 261.11 303.28 262 .33 Other financ ial liabilities 632.93 628.89 641.07 638.37 Provisions 228.38 207 .51 237. 74 214.69 Other non -current liabilities 0.03 0.09 0.03 0.09 Total non- cur.ent liabilities 1158.10 1 097 .60 1 277.66 l 218.43 Current liabilities Financ ial liabilities Borrowings . 231.41 161.06 Lease liabilit ies 41.64 27.66 42.67 29.44 Trade payables Total outst anding dues of micro enterprise s and sma ll enterprises 176.17 124.48 319 .00 220.87 Total outstand ing dues of creditors other than micro enterprises and small enterpr ises 4,2 16.38 4,385.84 4,885.94 4,861.68 Other fin ancial liabilities 123.12 112.58 157.81 153.83 Contract liabili ties 1,762.48 1,777.39 2,014.16 1,976.74 Provisions 715.54 683.76 733 .48 701.65 Other current liabil ities 44.24 47.72 66.47 81 .02 Current tax liab ilities, net 0.04 0.62 Total current liabilitie s 7 079 .57 7 159.43 8 450.98 8 186.91 Total equity and liabilities 18 857 .60 18 084.78 20 005.58 18 868.86 5 of 7
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SUZLON ENERGY LIMITED CIN . L40100GJ1995PLC025447 "SUZ LON". 5 SHRIMALI SOCIETY , NEAR SHRI KRISHNA COMPLEX. NAVRANGPURA. AHMEDABA0-380009 6 Statement of cashflows: < 't: in crores l Standalone Consolidated Half year ended Half year ended Particulars September 30, Septemb er 30, September 30, September 30, 2026 2025 2026 2025 /Unaudited ) <Unauditedl /Un audited } /Unauditedl Cash flow from operating activities Profit before tax 856.64 1 ,050.42 907.68 1, 021.73 Adjustments for: Depreciation and amortisation expense 148.76 82.01 216.96 145.47 Exceptional items 40.14 Loss on disposal of property, plant and equipment, net 0.24 0 .12 1.53 0.12 Gain on sale of mutual funds (12 .03) (5.10) (12.13) (6.2 4) Rent income from investment prop ert es (9 .50) (5.82 ) (8.27) (5.33) Other income (71. 94) (52.03 ) (53.65) (53.78 ) Interest expenses and other borrowing cost 108 .66 78.03 127.62 95 .10 Share based payment expenses 19.46 58.25 21.50 63 .71 Operation, maintenance and warranty expenditure 91.16 42.04 91.16 42 .04 Liquidated damages expenditure 6.57 22.19 6.57 22.19 Performance guarantee expenditure 28.08 38.32 32.68 40.76 Bad debts written off 35.58 0.84 35.58 1.31 Impairment allowance 4.3 1 10.40 5.21 12.03 Allowance/ (reversal) for doubtful debts and advances , net (19.25) 16.37 (21.00) 21.81 Provision/ (reversal) for diminution of inves tment (1.61) - Exchang e differences, net 10.131 / 1.15 1 / 1.191 5.08 Operating profit before working capital changes 1 185.00 1 375.03 1 350.25 1 406.00 Movements in working capital (1ncrease) / decrease in financial assets and other assets (10 .75) (34.47 ) (167.56) (153.43 ) (Inc rease) / decrease in trade re~eivaJles (446 .96) (1, 129 .54) (536.91) (1,215 .03) (Increase) / decrease in inventories (763 .56) (839.90 ) (949.37) (992.17) (Decrease)/ increase in othe r liabilities, financial liabilit ies and provisions (202.25) 900.45 64 .08 1,084.42 Cash (used in) / generated from operating activities (238.52) 271.57 ( 239 .51 ) 129.79 Direct taxes (paid)/ refund, (net) 56.04 130 .67} 39.97 (44.221 Net cash (used in) / generated from operating activ it ies - A 1182.481 240.90 ( 199.54) 85.57 Cash flow from investing activities Payments for purchase of property, pl3nt and eqy ipment including capital work-in-progress (150.99) (198 .91) (1 89.28) (298 .68) and capital advances Proceeds from sale of property, plant and equipment and inves tment property 0.27 0.30 1.44 0.30 Proceeds from sale of mutua l fund 113.33 85.81 113.33 142. 13 Purchase of mutual fund (197 .99) (279.99 ) (197.99) (2 95.05) Investment in subs idiari es (1 79. 70) - Consideration paid on acquisition of subsidiary (111.60) (11 1.60) Proceeds from business transfer arran~ement 176.00 - Proceeds from sale of stake in subsidiaries 37.89 0.10 Proceeds from subsidary towards share based payment 1.00 - Income from invest ment properties 9 .50 5.82 8 .2 7 5.33 Inter-corporate deposits given (214 .67) (276 .77 ) - Inter -corporate deposits repaid 379.49 22 .20 Interest received 30.85 35 .46 33 .78 37.37 Net cash (used in) / gene rated from investing activiti es - B 8 .68 1721.28 1 ( 230.45 ) ( 520.20) Cash flow from financing activiti es Repaymen t of long -term borrowings - (3 5.00) (18.58) Proceeds of long-term borrowings 27.56 Proceeds/ (repayment) from short term -borrow ings, net - 70.38 54.87 Paymen t of principal portion of lease liabilities (4 3.20) (12 .79) (44 .04) (1 4.45 ) Finance cost paid on financing arrangement (27 .71) (26 .39) (27 .71) (26.39) Proceeds from issuance of share capital including premium and share application money 95.40 pendinq allotmen t 83.58 95.40 83.58 Interest and other borrowing cost paic 156 .081 139.8 0) 171. 001 155 .971 Net cash (used in) / generated from financing activities - C 1 31.5 9\ 4 .60 15 .59 2 3.06 Net (decrease) / increase in cash and cash equival ents - A+B + C (205.39) {4 75. 7 8 ) ( 414.40 ) ( 411.57 ) Add / (less): Transfer under business :ransfer arrangement (13 .69) Cash and cash equivalents at the beginning of period 872 .94 996.80 1 24 5. 70 1 112.83 Cas h a nd ca sh equivalent s at the end of period 6 6 7 .55 507.33 8 3 1.30 7 0 1.26 6 of 7
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SUZLON ENERGY LIMITED CIN · L40100GJ1995P LC025447 "SUZLON", 5. SHRIMALI SOCIETY , NEAR SHRI KRISHNA COMPLEX . NAVRANGPURA. AHMEDABAD-380009 STATEME NT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR END ED SEPTEMBER 30, 2026 7 Figure s for the prev ious periods have been regrouped /re-classified to conform to the classi ficat ion and presen tation of the current period. Place: Pune Date: October 29, 2026 For and on behalf of the Board of Directors p· Vinod R.Tanti Chairman & Manag ing Director DIN No: 00002266 7 of 7
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Walker Chandiok &.Co LLP Walker Chandiok & Co LLP 3rd floor , Unit No. 31 O to 312, West Wing, Nyati Un itree Nagar Road, Yerwada , Pune - 411 006 Mahar ashtra, India T +91 20 6744 8888 F +91 20 6744 8899 Independent Auditor's Review Report on Standa lone Unaudited Quarterly Financial Results and Year to Date Results of the Company pursuant to the Regulation 33 of the Securities and Exchange Board of India ('SEBI') (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) To the Board of Directors of Suzlon Energy Limited 1. We have reviewed the accompanying statement of standalone unaudited financial resu lts ('the Statement') of Suzlon Energy Limited ('the Company') for the quarter ended 30 September 2026 and the year to date results for the period 1 April 2026 to 30 September 2026, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ('Listing Regulations'). 2. The Statement, which is the responsib ility of the Company's management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting ('Ind AS 34'), prescribed under section 133 of the Companies Act, 2013 ('the Act'), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substa ntially less in scope than an audit conducted in accordance with the Standards on Auditing specified under section 143(10) of the Act, and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. According ly, we do not express an audit opinion. (This space is left blank intentionally) Chartered Accountants Walker Chand iok & Co LLP is registered with limited liability w ith identification Offices in Ahmedabad, Bengaluru. Bhubaneswar. Chandigarh, Chenna1. Dehradun. Goa. Gurugram, Guwahat1, Hyderabad. Indore. number AAC-2085 and has its regi stered Koch1, Kolkata. Mumbai. New Delhi. Naida and Pune office at L-41, Connaught Circus, Outer Circle, New Delhi. 110001. India
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Walker Chandiok &.Co LLP 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. For Walker Chandiok & Co LLP Chartered Accountants Firm Registration No: 001076N/N500013 /) r~~;:::. I ~o 1.- Rohit Arora Partner Membership No.: 504774 UDIN: 26504774HHVGLG6698 Place: Pune Date: 29 October 2026 Page 2 of 2
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Walker Chandiok &.Co LLP Walker Chandiok & Co LLP 3rd floor, Unit No. 310 to 312, West Wing, Nyati Unitree Nagar Road, Yerwada, Pune - 411 006 Maharasht ra, India T +91 20 6744 8888 F +91 20 6744 8899 Independent Auditor's Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of the Company pursuant to the Regulation 33 of the Securities and Exchange Board of India ('SEBI') (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) To the Board of Directors of Suzlon Energy Limited 1. We have reviewed the accompanying statement of unaudited consolidated financial resu lts ('the Statement') of Suzlon Energy Limited ('the Holding Company') and its subsidiaries (the Holding Company and its subsidiaries together referred to as 'the Group'), (refer Annexure 1 for the list of subsidiaries included in the Statement) for the quarter ended 30 September 2026 and the consolidated year to date results for the period 1 April 2026 to 30 September 2026, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ('Listing Regulations'). 2. This Statement, which is the responsibility of the Holding Company's management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting ('Ind AS 34'), prescribed under section 133 of the Companies Act, 2013 ('the Act'), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries. primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing specified under section 143(10) of the Act, and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit Accord ingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the Listing Regulations, to the extent applicable. Chartered Accounlanls Walker Chand iok & Co LLP ,s registered with limited hab1lity w ith identification Offices 1n Ahmadabad. Bengaluru. Bhubaneswar. Chandigarh. Chennai. Dehradun. Goa. Gurugram. Guwahat1. Hyderabad. Indore. number AAC-2085 and has its registered Koch1. Kolkala. Mumbai. New Delhi. Nolda and Puna office at L-41 . Connaught Circus , Outer Circle. New Delhi. 11000 1, India
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Walker Chandiok &.Co LLP 4. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement , prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 5. The Statement includes the interim financia l statements of 22 subsidiaries, which have not been reviewed by their auditors, whose interim financial statements reflect total assets of { 11 .33 crores as at 30 September 2026, and total revenues of { 2.55 crores and { 4.90 crores , net profit after tax of { 0.23 crores and { 0.19 crores, total comprehens ive income of { 0.23 crores and { 0.19 crores for the quarter and six-month period ended 30 September 2026 respectively, net cash outflows of { 0.45 crores for the period ended 30 September 2026 as considered in the Statement, and have been furnished to us by the Holding Company's management. Our conclusion on the Statement , in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, are based solely on such unreviewed interim financial statements . Accord ing to the information and explanations given to us by the management , these interim financial statements are not material to the Group. Our conclusion is not modified in respect of this matter with respect to our reliance on the financial statements certified by the Board of Directors. For Walker Chandiok & Co LLP Chartered Accountants Firm Registration No: 001076N/N500013 aolr,~ ~~ Roh it Arora Partner Membership No. 504774 UDIN 26504774CLIAJJ4116 Place: Pune Date: 29 October 2026 Page 2 of 4
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Walker Chandiok &_Co LLP Annexure 1 List of entities included in the Statement Relationship with Sr. Company Name Country of respect No. incorporation to Holding Company 1. Suzlon Energy Limited India HoldinQ Companv 2. Renom Energy Services Private Limited India Subsidiary 3. Suzlon Renewable Development Limited India (formerly Suzlon Gujarat Wind Park Limited) Subsidiary 4. Suzlon GreenCast Limited (formerly SE Forge India Limited) Subsidiary 5. Suzlon Project s (West) Limited (formerly India Suzlon Western India Projects Limited) Subsidiary 6. Suzlon Project s (South) Limited (formerly India Suzlon Southern Projects Limited) Subsidiary 7. Freya Renewables Limited (formerly Suzlon India Shared Services Limited) Subs idiary 8. Suzlon Projects Limited (formerly Suyash India Renewables Limited) Subsid iary 9. Gale Green Urja Limited India Subsid iary 10. Suzlon Bearings Limited (formerly Suryoday India Renewables Limited) Subsidiary 11 . SWE Renewab les Limited India Subsidiary 12. SWE Wind Project Services Limited India Subsidiarv 13. Varadvinayak Renew ables Limited India Subsidiary 14. Suzlon Green Limited (former ly Vignaharta India Renewabl e EnerQy Limited\ Subsidiary 15. Anshul Green Urja Limited India Subsidiary 16. SWE Green Urja Limited India Subsidiary 17. Shreya Green Urja Limited India Subsidiary 18. Briza Renewab les Limited India Subsidiary 19. Kenzo Renewables Limited India Subsidiary 20. Anshu l Renewables Limited India Subsid iary 21. Shreya Wind Park Limited India Subsidiary 22. SWE Wind Park Limited India Subsidiary 23. Ethan Pawan Urja Limited India Subsidiary 24. Zella Green Urja Limited India Subsidiary 25. Shara yu Renewables Limited India Subsidiary 26. Avani Wind Park Limited India Subsidiary 27. Avyaan Wind Park Limited India Subsidiary 28. Akhila Wind Park Limited India Subsidiary 29. Advay Wind Park Limited India Subsidiary 30. Suzlon Energy A/S Denmark Subsidiary 31. Suzlon Energy Australia Pty. Ltd. Austra lia Subsidiary Page 3 of 4
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Walker Chandiok &.Co LLP Relationship with Sr. Company Name Country of respect No. incorporation to Holding Company 32. Suz lon Wind Energy Portuga l Energia Elocia Portugal Unipe ssoa l Lda Subsidiary 33. Suzlon Wind Energy Uruguay SA Uruguay Subsidiary 34. Suzlon Wind Energy Espana , S.L Spain Subsidiary 35. Suzlon Wind Energy Romania SRL Roman ia Subsidiary 36. Suzlon Wind Energy South Africa (PTY) Ltd South Africa Subsidiary 37. Suz lon Wind Enerji Sanayi Ve Ticaret Limited Turkey Sirketi Subsidiary 38. Suz lon Wind Energy (Lanka) Pvt. Limited Sri Lanka Subs idiary 39. Suzlo n Wind Energy Equipment Trad ing China (Shanqhai) Co., Ltd. Subsid iary 40. Suzlon Renewables Mauritius Limited Mauritius (formerly Suzlon Enerqy Limited, Mauritiu s) Subsidiary 41. Suz lon Wind Energy Limited United Kingdom Subs idiary 42. AE-Ro tor Holdin g B.V. Netherland s Subsidiary 43. Suzlon Energy Korea Co. Ltd. Korea Subs idiary 44. Suzlon Wind Energy Nicaragua Sociedad Nicaragua Anonima Subsidiary Page 4 of 4
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For immediate Release 2 9 th October 2026 Suzlon Q2 R evenue G rows 26% YoY on R ecord D eliveries Amongst top global wind energy players with installed capacity crossing 22 GW Revenue ₹ 4 , 869 c rores 27 % QoQ Growth EBITDA ₹ 72 0 crores 2 1 % QoQ Growth Strong Commissioning 454 MW 69% QoQ Growth Record Q2 India Deliveries 710 MW 40% QoQ Growth
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For immediate Release 2 9 th October 2026 Other Highlights • Suzlon ’s net worth crosses ₹10,000 crores • CRISIL upgraded Suzlon Energy Limited’s long - term rating to CRISIL AA - / Stable • 6 + GW order book with highest - ever H1 FY27 deliveries • 38% EPC share of order book, in line with market strategy of growing EPC share to 50% by FY28 • PSU and C&I customer s contribute to 78% of the total order book • 1 .5+ GW order intake i n H1 FY27 • DevCo - led o rders cross 70% of H1 order intake : 1.1+ GW Pune, India: Suzlon Group, a wind - first , full - stack renewable energy solution s provider , announced its second quarter results (Q 2 FY27). Girish Tanti, Vice Chairman and Co - founder , Suzlon Group , said, “ Our Suzlon 2.0 strategy is turning our wind leadership into a full - stack renewable energy solutions business, delivering record throughput and execution at scale. Our 1.1+ GW of DevCo - led orders show how fast we are accelerating project execution and capacity addition, driving India toward its 100 GW wind energy ambition by 2030. And , as we cross 22 GW of installed wind capacity globally, Suzlon stands among the world’s largest wind energy players.” Ajay Kapur, Chief Executive Officer, Suzlon Group , said, “ Our record Q2 deliveries of 710 MW and strong commissioning of 454 MW reflect stronger execution and are driving revenue growth. With H1 order intake exceeding 1.5+ GW and an order book of 6 + GW, we are demonstrating our ability to convert demand into deliveries , while sustaining a strong pipeline for future growth. The rising EPC to 38% share further reflects our expanding role in end - to - end project execution .”
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For immediate Release 2 9 th October 2026 Rahul Jain, Chief Financial Officer, Suzlon Group, said, " D espite commodity and currency volatility, Suzlon delivered 26% YoY revenue growth to ₹4,869 crore s in Q2 FY27, with EBITDA of ₹72 0 crore s , reflecting disciplined execution and operating leverage. We are strengthening our manufacturing and execution capabilities while maintaining focus on margin, cash flow and disciplined capital allocation. Q2 FY26 included a deferred tax asset creation of ₹ 891 crore s ; excluding this impact, the underlying year - on - year improvement in profitability is stronger. " Suzlon Group Q 2 FY2 7 snapshot ( C onsolidated) (₹ Crores) Particulars Q 2 FY27 Unaudited Q1 FY2 7 Unaudited Q 2 FY26 Comparable* Q2 FY26 Una udited Net Deliveries (MW) 710 506 565 565 Revenue from operations 4,869 3,819 3,866 3,866 EBITDA 720 595 721 721 EBITDA Margin 14.8 % 15.6 % 18.6 % 18.6 % Profit Before Tax 518 390 562 562 Net Profit After Tax 394 305 389 1,279 *D eferred Tax Asset creation of ₹ 891 crores removed from Q2 FY26. Accordingly, the comparable PAT has actually increased 1.3 % vis - à - vis calculated drop of 69.7% reflected on the basis of reported numbers , due to a significant amount of DTA creation in Q2 FY26. Manufacturing Suzlon has one of India’s largest domestic wind turbine manufacturing capacities, at 4,500 MW , across 15 specialised hubs , including three smart factories in Gujarat, Karnataka , and Tamil Nadu . Projects Suzlon achieves 723 MW commissioning in H1 FY27, reflecting strong execution momentum . This includes projects with Juniper Green Energy, Aditya Birla Renewables Limited, Zelestra, Brookfield , and Yanara .
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For immediate Release 2 9 th October 2026 Asset Management Services ( AMS ) Suzlon’s RE AMS combines three decades of wind energy expertise with a growing full - stack renewable energy services portfolio. India business manages US$10 + billion in assets, with 16,000+ MW installed, 9,600+ wind turbines, 110+ sites , and 1,900+ customers. CSR Suzlon’s CSR initiatives reach 2.33 million+ beneficiaries across 1,200+ villages in eight states and two u nion t erritories, supported by 40+ NGO partners. Our “ Powering Lives ” initiative has impacted 43,000+ people across 140 villages, while nature - positive programmes have restored 55 hectares of grassland and supported biodiversity conservation. ESG Landscape: Meaningful impact and recognitions Awards and Recognitio ns • Suzlon ranked among India’s Top 5 Renewable Energy Companies in the Great Place To Work® survey. • Suzlon’s Puducherry plant won the Gold Award at QCFI 2026 and an award for our ESG initiative, Sustainability with Smart Plant. • Suzlon won Excellence in Innovation in CSR Practices at the CSR Summit and Awards 2026, benefiting 43,000 people through Suzlon – Powering Lives. • Suzlon was named Industry Trendsetter of the Year 2026 (Renewable Energy) at the Brand India Summit for advancing India’s energy independence. Suzlon included under Sustainability Yearbook, 2026 (Top 15% in Sustainability Performance globally) Rating upgraded to “Strong” category Prime status for exceeding industry threshold with decile rank of 1 Inclusion of Suzlon under Emerging ESG Index & FTSE Emerging ESG Low Carbon Select Index Rating upgraded to “Low Risk” Top 7th Percentile in Electrical Equipment Industry
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For immediate Release 2 9 th October 2026 • Suzlon was featured among the Iconic Brands of India 2026 by ET Edge, recognising its influence beyond commercial success. About Suzlon Group At Suzlon Group, we believe energy enables human progress, and the new world of energy will be powered by Good Energies That Work. With revenues of USD 1.75+ billion for FY26 and market capitalization of USD 5.6 + billion as of September 30 , 2026, we are constantly advancing the good energies that make the new world work by building clean, dependable, intelligent, integrated, and affordable energy ecosystems for a rapidly electrifying world. With 2 2+ GW of wind energy capacity installed across 17 countries and a diverse portfolio of renewable energy businesses, Suzlon today is a wind - first full stack renewable energy solutions conglomerate with businesses spanning across RE Technology (Wind+Solar+Sto rage), RE Development Company, RE Projects and RE Asset Management. For over three decades, Suzlon has partnered with leading PSUs, IPPs, and C&I businesses as a lifetime renewable energy partner. Our next - generation product portfolio includes 2.x MW, 3. x MW, 5.x MW, 6.x MW wind turbine systems alongside integrated renewable energy solutions that are built for the new world of energy. Headquartered at Suzlon One Earth in Pune, India, the Suzlon Group (NSE: SUZLON, BSE: 532667) comprises of RE Tech: Wind | Storage | Solar, RE DevCo, RE Projects and RE AMS and its subsidiaries. For more information, please visit https://www.suzlon.com/ PRESS CONTACT, SUZLON GROUP INVESTOR RELATIONS CONTACT, SUZLON GROUP LINKEDIN | X | FACEBOOK | INSTAGRAM Monica Miglani Corporate Communications +91 80077 32727 communication@suzlon.com Krishna Kumar Investor relations +91 90286 56440 investorrelations@suzlon.com www.suzlon.com