Pune, India: Suzlon Group, Indias largest renewable energy solutions provider, announced its audited quarterly (Q1 FY18) results.
J P Chalasani, Group CEO, said, "We continue to achieve profitable growth as evidenced by the 4th consecutive quarter of delivering net profit. We are confident this momentum will continue. The transition from FiT to competitive bidding has created temporary volatility in terms of volume and margins. In the long-term, all stakeholders will benefit from higher volumes. We have commissioned our next generation turbine, the S111-140 meters which will establish new performance benchmarks. Our presence across the value chain, end-to-end solutions and best-in-class services gives us a competitive edge. The future of wind energy is brighter than yesterday. Wind as a source of energy will remain cost competitive, affordable and reliable."
Kirti Vagadia, Group CFO, said, "We remain focused on a profitability and sustainable volume growth. Delivering 412 MW in Q1, which is seasonally a low volume quarter, is a testament of the same. Our continued focus on cost optimization has helped us to secure a healthy bottom line and gives us operating leverage. We continue to maintain disciplined working capital level. In order to cope with the temporary uncertainties in the domestic market we have further strengthened our risk management in order to maintain our margins."
Suzlon Group Q1 FY18 financial performance at a glance (consolidated):
Operating Performance (EBITDA*)
EBITDA of Rs. 475 crores, EBITDA margin of 18%
Debt (excluding FCCB)
Order Book and Order Intake
1. New product
2. Debt optimisation
3. Milestone & Awards
Top 50 Indian Innovator award by Clarivate Analytics India Innovation Award 2016. Clarivate Analytics, formerly IP & Science division of Thomson Reuters, recognizes the most innovative companies of India according to patent-related metrics.
Note to the editor:
*EBITDA and Net profit adjusted for forex impact
About Suzlon Group:
The Suzlon Group is one of the leading renewable energy solutions providers in the world with an international presence across 18 countries in Asia, Australia, Europe, Africa and North and South America. With over two decades of operational track record, the Group has a cumulative installation of approximately 17 GW of wind energy capacity, over 8,600 employees with diverse nationalities and world-class manufacturing facilities. Suzlon is the only Indian wind energy company with a large in-house Research and Development (R&D) set-up in Germany, the Netherlands, Denmark and India. Over 11 GW of the Groups installation is in India, which makes up for ~35% of the countrys wind installations, making Suzlon the largest player in this sector. The company has recently forayed into the solar space. The Group, headquartered at Suzlon One Earth in Pune, India, is comprised of Suzlon Energy Limited and its subsidiaries.
Suzlon corporate website: www.suzlon.com
Tel: +91 (20) 67025000