Suzlon Energy’s Q4 Income Rises 29.85% YoY as Order Book Swells

The company's net profit dipped to 21.7% to ₹2.54 billion (~$30.5 million)

thumbnail

Wind turbine manufacturer Suzlon Energy recorded a total income of ₹21.79 billion (~$262 million) during the fourth quarter (Q4) of 2024, a year-over-year (YoY) increase of 29.85% as compared to ₹17 billion (~$204.6 million).

The company posted a net profit of ₹2.54 billion (~$30.5 million), a YoY decrease of 21.7%, from ₹3.23 billion (~$38.8 million), owing to certain exceptional expenses.

Suzlon’s earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at ₹3.57 billion (~$42.9 million). , with an EBITDA margin of 16.4%.

Girish Tanti, Vice Chairman, Suzlon Group, said, “We have been able to create a solid foundation over the last financial year across all business verticals of technology, manufacturing, projects, and OMS. This positions the company strongly to lead the sector in years to come. We stacked up our largest-ever order book of value-driven orders for more than 3.3 GW.”

He said the company also added several leading Indian conglomerates to its customer portfolio with long-term relationships and repeat orders. Suzlon had rebuilt its organizational strength and expanded its leadership team, acquiring critical multi-industry talent.

As of March 31, 2024, the company had ~20.7GW of installed wind energy capacity and a roughly 32% cumulative market share in India.

Full Year 2024

For the full year, Suzlon recorded a total income of ₹65.68 billion (~$790.4 million), a YoY increase of 9.6%.

The company posted a net profit of ₹7.14 billion (~$85.9 million), a decrease of 77% YoY.

The EBITDA for the period totaled ₹10.29 billion (~$123.8 million), with an EBITDA margin of 15.8%.

The company’s order book stands at its highest ever of 3.3 GW.

Suzlon said several factors have buoyed its growth prospects. The business operates independently with low breakeven levels, ensuring a solid foundation for sustainable operations.

Secondly, it has an annual manufacturing capacity of 122,000 MT, indicating ample potential for production scalability. Thirdly, favorable conditions in the wind power market further contribute to its growth trajectory.

The company said skilled manpower and sufficient working capital had enhanced operational efficiency and resource utilization, while robust and streamlined manufacturing systems facilitated smooth production processes.

The current lower level of capacity utilization signified operational efficiency, providing room for expansion and future growth initiatives.

Acknowledging the need to establish a robust and quickly adaptable supply chain as part of its expansion efforts, Suzlon implemented numerous measures in the fiscal year 2024 to cultivate vendor networks throughout its value chain. These efforts were consistently aimed at reducing the cost of electricity and enhancing accessibility to affordable renewable energy.

Last October, Suzlon announced raising ₹12 billion (~$146.4 million) through a rights issue of 2.4 billion partly paid-up equity shares.

In December 2022, the company also approved the sale of its remaining stake of 51.05% in the subsidiary Vayudoot Solarfarms to Ahmedabad-based Aries Renewables for a consideration of ₹142.3 million (~$1.7 million).

RELATED POSTS