Shares of Suzlon Energy rallied 4% on Tuesday to their day’s high of Rs 73.50 on BSE after the company reported a 96% year-on-year (YoY) jump in its September quarter consolidated net profit at Rs 201 crore versus Rs 102 crore reported by it in the year ago period.
Company’s revenue from operations during the quarter stood at Rs 2,093 crore which was up 48% over Rs 1,417 crore reported in the corresponding quarter of the previous financial year.
Its Earnings, Before Interest, Taxes, Depreciation and Amortisation (EBITDA) in the reported quarter stood at Rs 294 crore versus Rs 225 crore in the year ago period. It was 31% higher on a YoY basis. Meanwhile, EBITDA margin in Q2FY25 was down to 14.1% from 15.9% in the year ago period.
The net finance grew marginally to 38 crore in the July to September quarter of FY25 versus Rs 36 crore in the year ago period.
The company delivered robust deliveries at 256 MW in line with market expectations which was a 96% YoY growthNagpur Investment. Order book stood at all‐time high 5.1 GW including India’s largest wind order from NTPC.
Suzlon signed India’s largest wind energy order of 1,166 MW from NTPC Green Energy Limited, the Renewables Arm of NTPC, to install a total of 370 wind turbine generators (WTGs) of S144 equipped with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW eachAgra Investment. This includes two projects of NTPC Renewable Energy Limited (a wholly owned subsidiary of NGEL) and one project of Indian Oil NTPC Green Energy Pvt. LtdJaipur Wealth Management. (A group company of NGEL) in the state of Gujarat.
Commenting on the company’s earnings, Vice Chairman Girish Tanti said that Suzlon’s core business is now on solid foundation to capitalise on the market momentum. “We’ve fortified our leadership team, stabilised our new product offerings, ramped up our manufacturing capacity, enhanced our project execution capabilities, and built a robust order book. As the renewable energy sector continues to evolve, we’re seizing the chance to explore new opportunities that align with our strategic objectives,” he said.
“To help us crystallise the most relevant prospects, we’ve engaged a leading global management consulting firm to provide expert guidance and insights. This collaboration will enable us to shape our future growth trajectory, identify potential adjacencies, and make informed decisions that drive long‐term success,” he added.Bangalore Stock Exchange
On Monday, Suzlon Energy’s shares closed at Rs 70.8, up 5.1% on the BSE, while the benchmark Sensex surged 0.76%. Its shares have surged 84% in 2024 to date and 770% over the past two years, with the company currently holding a market capitalization of Rs 96,583 crore.
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