Suzlon announces $7.3 billion orders

INDIA: Suzlon has announced record 5GW of orders worth $7.3 billion for the nine months preceding December 31.

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Suzlon chairman Tulsi Tanti said with the US and European markets remained challenging, a large proportion of the orders had come from India, Brazil and Canada.

The company also posted a 65% increase in revenue. It rose from INR1696.25 crore INR2,795.37 crore ($614.3 million).

Key points:

  • Group orderbook rises to record US$ 7.3 bn; increase of 35 per cent*
  • Group revenues of Rs. 4,433 cr. (US$ 968 mn)
  • EBITDA of Rs. 182 cr. (US$ 40 mn); Normalized EBITDA of Rs. 354 cr. (US$ 77 mn.)
  • EBIT of Rs. 40 cr. (US$ 9 mn); Normalized EBIT of Rs. 212 cr. (US$ 46 mn)
  • Gross margins maintained at 32 per cent
  • Net debt-to-equity ratio of 1.5x

Tanti said: "While the business environment remains challenging, particularly in the US and parts of Europe, our competitive position remains strong with a global sales and service organization – spanning 32 countries and 15 GW operating wind capacity worldwide – which is delivering in excess of 97 per cent availability."

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