For the March quarter, Suzlon reported revenue growth of 30% from last year to ₹2,196 crore. For the year-ago quarter, Suzlon had reported revenue of ₹1,694 crore.
Net profit for the period fell by 8.6% from last year to ₹254 crore. The company’s profit was impacted due to an exceptional item of ₹27 crore, which was due to de-recognition of certain assets.
EBITDA for the March quarter increased by 54% year-on-year to ₹357.2 crore, while margin expanded by 260 basis points to 16.3% from 13.7% last year.
In its earnings presentation, Suzlon mentioned that it has closed financial year 2024 with its largest ever order book at 3.3 GW. It recently won a repeat 402 MW order from Juniper Green Energy.
It also ended the year with a net cash balance of ₹1,148 crore.
Suzlon Group Vice Chairman Girish Tanti said that the company has added many Indian conglomerates to its customer portfolio with long-term relationships with repeat orders.
“We have been able to create a solid foundation over the last FY across all business verticals of technology, manufacturing, projects, and OMS. This positions the company strongly to lead the sector in years to come,” Tanti said.
During the year, Suzlon commissioned projects worth 882 MW, which is a 78% growth from last year.
“We continue to maintain a cost‐conscious approach even while factoring in our growth plans. Our priority remains timely execution of our order book, and I believe that we are moving in the right direction,” Suzlon Group CFO Himanshu Mody said.
Shares of Suzlon though, ended in a lower circuit of 5% at ₹45.9.
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