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Suzlon Q3 FY17 revenue up by 76%

  • Revenue of Rs 3,307 crores in Q3 and 9M revenue Rs. 7703 crores, up 24% on YoY basis
  • EBITDA of Rs. 745 crores for Q3, up 124% on YoY basis
  • 9M EBITDA of Rs 1,502 crores, up 70% on YoY basis
  • New rotor blade plants commissioned in Rajasthan and Andhra Pradesh, establishing Suzlon’s strong manufacturing presence in all wind-rich states in India
  • 10,000 MW milestone achieved in India
  • Fourth largest operations and maintenance company in the overall Indian power sector
  • J.P. Chalasani, Group CEO, Suzlon, said, “Our Q3 FY17 performance further consolidates the growth we have achieved in the first two quarters with the volumes growing by 31% as compared on a QoQ basis. The domestic market is likely to grow in size, mainly due to the State Feed in Tariff (FIT) programs, Inter State Transmission System (ISTS) with non-windy states, and the demand to meet the Renewable Purchase Obligations (RPO). The competitive bidding process held recently will drive volume growth in the industry. With 14 manufacturing facilities we are the only OEM with blade capacities in all key windy states.”
  • Kirti Vagadia, Group Chief Financial Officer (GCFO), Suzlon, said, “We continue to focus on delivering robust growth in volume with enhanced business efficiency. This is reflected in the improved profitability and net working capital despite increasing volumes. Our net term debt has reduced to Rs. 6,538 crores. The sustainability of our turnaround and growth momentum has been validated by an upgrade in credit ratings by CARE to investment grade ‘BBB’ from the earlier ‘BBB-’ to Suzlon Energy Ltd., and a provisional ‘A-’ credit rating to our subsidiary - Suzlon Global Services Ltd.”

About Sanjay Trivedi

Sanjay Trivedi is honorary editor of Asia Times. He is senior Indian Journalist having vast experience of 25 years. He worked in Janmabhoomi, Vyapar, Divya Bhaskar etc. newspapers and TV9 Channel as well as www.news4education.com. He also served as Media Officer in Gujarat Technological University.

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