Shares of Suzlon Energy Ltd slipped over 4% in early trade on Wednesday, despite the wind energy major reporting robust Q1 FY26 earnings. The decline was driven by investor reaction to the resignation of Group CFO Himanshu Mody, a key figure in the company’s recent turnaround story.
The CFO Exit Shock
Earlier this week, Suzlon announced that Group CFO Himanshu Mody has resigned, effective from the close of business on August 31, 2025. In his resignation letter, Mody noted that he would take his learnings from Suzlon into another “challenging assignment.”
According to CNBC-TV18, Mody is set to join Samman Capital — formerly Indiabulls Housing Finance — in a senior leadership role. The non-bank lender manages assets worth around ₹66,000 crore.
Mody joined Suzlon in August 2021 and was instrumental in steering the company to a net debt-free balance sheet through qualified institutional placements, rights issues, and other capital-raising initiatives. His departure raises investor concerns over leadership continuity, even as Suzlon works on appointing a successor.
Strong Q1 Performance
For the quarter ended June 30, 2025, Suzlon posted:
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Net profit of ₹324 crore, up 7% YoY from ₹302 crore.
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Revenue from operations surged 54% YoY to ₹3,117 crore from ₹2,016 crore.
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EBITDA rose sharply to ₹599 crore from ₹370 crore, with margins improving to 19.2% from 18.4%.
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Profit before tax stood at ₹459 crore.
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Net finance costs increased to ₹70 crore from ₹22 crore a year earlier.
Operationally, Suzlon achieved its highest-ever Q1 deliveries at 444 MW and secured 1 GW of new orders, taking the total order book to 5.7 GW — 75% from commercial & industrial clients and public sector units. The company also reported a net cash position of ₹1,620 crore as of June 30, 2025.
Market Reaction
Despite these positive results, Suzlon shares opened at ₹63.15 and closed marginally lower at ₹63.13, after hitting an intraday low of ₹60.32. The year’s price range stands between ₹46.15 and ₹86.04.
Market analysts suggest that the CFO resignation overshadowed the strong earnings, triggering profit-booking and short-term caution among investors.