Suzlon announces Q4 FY21 Results

Suzlon Group, India's largest renewable energy solutions provider, announced its fourth quarter (Q4 FY21) and annual audited results for financial year 2020-21 (FY21).

Suzlon Group Q4 FY21 and Annual financial performance (FY21) at a glance (consolidated):

Revenue

- FY21 at 3,294.65 crores
- Q4 FY21 at 1,119.95 crores

Operating Performance

EBIDTA (Pre-forex)

- Profit of INR 538.74 crores in FY21; EBITDA margin at - 16.35%
- Profit of INR 111.17 in Q4 FY21; EBITDA margin at - 9.93%

EBIT (pre-forex)

- Profit of INR 280.36 crores in FY21
- Loss of INR 49.12 crores in Q4 FY21
- Net Loss (before exceptional items) of INR 701.87 crores in FY21; Net loss (before exceptional items) of INR 52.84 crores in Q4 FY21

Tulsi Tanti, Chairman and Managing Director, Suzlon Group said, "It was an unprecedented and challenging year where economies around the world were impacted by the COVID-19 pandemic. Unfortunately, India was and still remains one of the worst effected countries. Like all industries in the country, The Indian Wind Energy sector has also been adversely impacted mainly due to uncertainty and operational issues posed by the pandemic. The sector was restricted to low volumes with installations of only 1.5GW which is lower by almost 30% from last year which amounts to only 15-18% capacity utilization in India. Despite that total wind energy installations in India stand at 39.24GW which is nearly 42% of the total renewable energy installations in the country."

"Massive global push for renewables post COVID-19 and the Government's thrust on 'Make in India' and 'Aatmanirbhar Bharat' will help Suzlon manufacture wind turbines and its components for the sector as a whole in the future and reduce imports while creating long term sustainable jobs and energy security."

Ashwani Kumar, CEO, Suzlon Group said, "For Suzlon, this was the first year of restarting our operations post debt restructuring. While our installations remained low, our strategic imperatives for the year were restarting our manufacturing facilities, ensuring continuation of our OMS operations without interruptions and fulfilling the obligations of our debt restructuring. However, exponential increase in commodity prices like those of steel has impacted our profitability significantly in India."

"Our service business teams have done exceptionally well in keeping all our sites operational to generate uninterrupted power throughout the lockdown period, safe-guarding our customer's assets and revenues, while providing an essential service to the nation. We closed the year with a healthy order-book of over 817 MW which we aim to service this year."

Shares of SUZLON ENERGY LTD. was last trading in BSE at Rs.7.67 as compared to the previous close of Rs. 7.87. The total number of shares traded during the day was 18239512 in over 36627 trades.

The stock hit an intraday high of Rs. 8 and intraday low of 7.61. The net turnover during the day was Rs. 143188370.

Source : Equity Bulls

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