Archive · 5 Oct 2026
JM Financial Previews Q2 Results Across India’s Power Sector
JM Financial shared its expectations for several Indian power and renewable-energy companies.
These are forecasts, not confirmed results.
It expects companies such as BHEL and Suzlon to grow, helped by strong orders and better margins.
It also predicts higher profits for Tata Power and Waaree Energies.
Adani Power is expected to generate more electricity than a year earlier.
The brokerage sees some companies, including Inox Wind and Vikram Solar, having a weaker or more difficult quarter.
It expects Coal India to benefit from selling more coal and getting better prices at auctions.
The article does not give a specific date for when the results will be announced.
JM Financial expects BHEL and Suzlon to deliver double-digit growth, supported by healthy order books and improving margins.
It forecasts Suzlon net profit rising 3% year over year to Rs 578 crore, with sales up 24% to Rs 4,815 crore.
BHEL is forecast to post a 36% profit increase to Rs 509 crore, while Tata Power’s profit is projected to rise 81% to Rs 1,305 crore.
Waaree Energies’ adjusted profit is estimated at Rs 917 crore, up 9% year over year; Adani Power generation is expected to rise 21%.
JM Financial sees subdued results for Inox Wind and Vikram Solar, while Coal India may improve on stronger offtake and e-auction premiums.
- Who
- JM Financial and the power-sector companies covered in its quarterly results preview.
- What
- A forecast of likely Q2 financial and operating performance, including potential growth and weaker results.
- When
- Q2FY27, as referenced in the article.
- Where
- India.
- Why
- The preview assesses how capacity additions, demand, order books, generation, dispatches and coal sales could affect company results.
More positive outlook
More cautious outlook
Company performance
More positive outlook
JM Financial expects growth at BHEL and Suzlon, improved margins at some manufacturers, and stronger performance from Coal India.
More cautious outlook
It expects Inox Wind to remain subdued and Vikram Solar to struggle, while Premier and Emmvee may report flat revenue.
Renewable capacity and storage
More positive outlook
Battery storage capacity used in the merchant market could support sequential performance for Adani Green, ACME Solar and Juniper Green.
More cautious outlook
JM Financial does not expect major capacity additions from those three companies.
- Source of estimates
- JM Financial
- Reporting period
- Q2FY27, according to the article’s references
- Suzlon estimate
- Net profit of Rs 578 crore, up 3% year over year; net sales of Rs 4,815 crore, up 24%
- BHEL estimate
- Profit of Rs 509 crore, up 36% year over year; sales of Rs 9,015 crore, up 20%
- Tata Power estimate
- Profit of Rs 1,305 crore, up 81% year over year
- Waaree Energies estimate
- Adjusted net profit of Rs 917 crore, up 9% year over year
- Adani Power estimate
- Generation expected to rise 21% year over year