Pune, India: Suzlon Group, India's largest renewable energy solutions provider, announced it's fourth quarter (Q4 FY19) and annual audited results for financial year 2018-19 (FY19)
J P Chalasani, Group CEO, said, "We continued to maintain market leadership and deliver highest installations amidst a prolonged and challenging industry transition to the bidding regime. The achievement demonstrates our strong technical and project execution capabilities and over two decades of experience in the Indian market. We continued our excellent track record in operation and maintenance service by achieving 97.48% machine availability, highest till date. FY20 is expected to be a relatively high volumes market with Central and State-level auctions in India. We are geared to capitalize on growth with our superior technology, vertically integrated operations and best-in-class services. We will continue our R&D efforts and remain at the forefront of developing technologically advanced and innovative wind turbines. We are committed to reducing our debt and are progressing well on strategic initiatives undertaken by the team."
Kirti Vagadia, Group CFO, said, "The wind sector continues to witness impact of the prolonged transition phase which is also reflected in our FY19 performance. We remain committed to debt reduction, cost optimization across the board and execution of our order book. We remain highly focused on ramping up execution in the coming quarters."
Suzlon Group Q4 FY19 and Annual financial performance (FY19) at a glance (consolidated):
Net loss of Rs 1,537 crores in FY19; Net loss of Rs. 295 crores in Q4 FY19
Debt (including FCCB)
Highest wind installation in India during FY19:
Operations and Maintenance Services (OMS)
About Suzlon Group:
Suzlon Group is one of the leading renewable energy solutions provider in the world with a global presence across 18 countries in Asia, Australia, Europe, Africa and Americas. Headquartered at Suzlon One Earth in Pune, India; the Group is comprised of Suzlon Energy Limited (NSE & BSE: SUZLON) and its subsidiaries. A vertically integrated organization, with over two decades of operational track record, the group has a cumulative global installation of over 18 GW of wind energy capacity, over 7,500 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 12 GW of the Group's installation is in India, which makes up for ~35% of the country's wind installations, making Suzlon the largest player in this sector. The Group is the custodian of over 12 GW of wind assets under service in India making it the 2nd largest operations and maintenance company (over 8,500 turbines) in Indian power sector. The Group also has around 3 GW of wind assets under service outside India.
Suzlon corporate website: www.suzlon.com
Tel: +91 (20) 67025000