Suzlon Group | Business Upturn

Suzlon Q3 FY25 results: Revenue soars 91% YoY to Rs 2,969 Crore, net profit rises 91% to Rs 388 crore

Matrika Shukla — Tue, 28 Jan 2025 10:27:14 +0000

Suzlon Group, India’s leading renewable energy solutions provider, has reported stellar financial performance for the quarter ended December 31, 2024 (Q3 FY25). The company achieved robust growth across key financial metrics, underscoring its strong position in the renewable energy sector.

Key Financial Highlights (Consolidated)

Revenue: ₹2,969 crore, a 91% year-on-year (YoY) increase from ₹1,553 crore in Q3 FY24.
Net Profit After Tax (PAT): ₹388 crore, up 91% YoY from ₹203 crore.
EBITDA: ₹500 crore, a 102% increase from ₹248 crore in Q3 FY24, with an EBITDA margin of 16.8%.
Net Volumes: 447 MW, up 163% YoY from 170 MW in Q3 FY24.

Operational Highlights

Order Book: Suzlon achieved its highest-ever order book of 5.5 GW, with Commercial & Industrial (C&I) and Public Sector Undertaking (PSU) customers accounting for 80% of total orders.
Manufacturing Capacity: Expanded to 4.5 GW, supported by revamped facilities in Puducherry and Daman. Additional production lines at Ratlam and Jaisalmer are underway.
Product Innovation: The S144 wind turbine dominated the Indian wind market, accounting for 92% (~5 GW) of the overall order book. Suzlon delivered its 300th S144 turbine during the quarter.

Girish Tanti, Vice Chairman, stated, “Our strategic focus on sustainability, operational capacity, and customer-centricity continues to drive consistent growth. By prioritizing C&I and PSU customers, we’re aligning with India’s green energy goals and strengthening our leadership in the renewable energy sector.”

JP Chalasani, CEO, added, “We’ve achieved significant growth by ramping up our operations and executing our robust order book efficiently. Our focus remains on creating long-term value for stakeholders while advancing India’s renewable energy ambitions.”

Himanshu Mody, CFO, emphasized, “This quarter’s results reflect our execution capabilities, with strong profit growth driven by higher volumes and operational efficiencies.”

Awards and Recognitions

CRISIL upgraded Suzlon’s credit rating to ‘CRISIL A’ with a Positive Outlook.
Suzlon received the GEEF Global Sustainability Award 2024 for excellence in renewable energy.
Suzlon Global Services Ltd. (SGSL) won the ‘Great Indian Renewable Energy Company of the Year’ award and several other accolades for sustainability and green practices.

With a strong order pipeline, advanced wind turbine technologies, and ongoing manufacturing expansions, Suzlon is poised to maintain its growth trajectory and solidify its market leadership in the renewable energy sector.

Suzlon Group and Torrent Power achieve 1 GW wind energy milestone in India after winning new 486 MW hybrid order

Aman Shukla — Fri, 24 Jan 2025 05:23:22 +0000

Suzlon Group and Torrent Power Ltd. have successfully achieved a significant milestone by collectively powering 1 GW of wind energy in India. This is made possible through their latest collaboration, involving a 486 MW hybrid order. This partnership supports India’s ambitious goal of generating 50% of its electricity from renewable sources, while also strengthening the Make in India initiative.

As part of the agreement, Suzlon will supply 162 advanced S144 wind turbine generators (WTGs), each rated at 3 MW, equipped with Hybrid Lattice Towers. These turbines will be deployed in the Bhogat region of Gujarat, marking a key step in India’s renewable energy journey.

Girish Tanti, Vice Chairman of Suzlon Group, expressed pride in the collaboration, stating that their decade-long partnership with Torrent has reached a remarkable 1 GW of cumulative orders across Gujarat and Karnataka. Together, they’ve provided reliable energy to nearly 1 million households, leveraging advanced technologies for sustainable power generation.

JP Chalasani, CEO of Suzlon Group, emphasized the role of their innovative S144 wind turbines, which perform optimally even in low-wind conditions. This achievement underscores the importance of advanced technology in accelerating India’s transition to renewable energy and building a sustainable future.

Suzlon secures 100.8 MW order from Everrenew Energy

Dixita Hazarika — Fri, 14 Jul 2023 13:08:59 +0000

On Friday, Suzlon Group, which is a renewable energy solutions provider, in a statement said that it has secured an order of 100.8 MW wind power project from Everrenew Energy.

Everrenew Energy is a renewable energy company which provides a one-stop project management solution for wind and solar farm development. Its services include wind resource assessment, solar assessment, site identification, permit & approval, land acquisition and development, civil, procurement & logistics, commissioning, and asset management.

It also stated, “Suzlon will install 48 wind turbine generators (WTGs) of their S120 – 2.1 MW wih a Hybrid Lattice Tubular tower at Velliyanani Phase II in Karur district and Vengaimandalam in Trichy in Tamil Nadu and the project is expected to be commissioned in March 2024.”

The company will be supplying the wind turbines (equipment supply) and supervising the execution and commissioning of the project. A project of this size can provide electricity to 65,000 households and curb 2.58 lakh tonne of CO2 emissions per year.

Venkatesh R, the Chief Executive Officer of Everrenew Energy Private Limited said, “Suzlon’s commitment to ‘Aatmanirbhar Bharat’ is reflected in their ‘Made-in-India’ products which complement our ideology. We are focussed on increasing adoption of renewable energy in the C&I segment and powering their energy transition journeys. We look forward to creating many landmark renewable energy projects in the future.”