Suzlon Group Reports Impressive Q2 FY25 Results with Record Order Wins and Substantial Profit Growth.

For the second quarter of FY25, ending September 30, 2024, Suzlon Group reported a robust net revenue of ₹2,093 crores, reflecting a 48% increase compared to the same period last year. The company delivered 256 MW of wind energy capacity, marking a significant 94% year-on-year rise, which highlights the strong demand within the renewable energy sector. Additionally, Suzlon's EBITDA grew by 31% year-on-year to ₹294 crores, resulting in an EBITDA margin of 14.1% and a net margin of 9.6%.

Suzlon’s closing order book has reached an all-time high of 5.1 GW, bolstered by India's largest wind energy order from NTPC Green Energy Limited (NGEL) for 1,166 MW, encompassing three major projects in Gujarat. This collaboration includes the installation of 370 wind turbine generators, each utilizing the advanced Hybrid Lattice Tubular (HLT) tower with a rated capacity of 3.15 MW.

Furthermore, Suzlon secured a substantial 400 MW order from JSP Green Wind 1 Pvt. Ltd., a subsidiary of Jindal Renewables, marking the largest win in the Commercial and Industrial (C&I) sector, thus contributing to India’s clean energy objectives.

The quarter also saw Suzlon acquiring a 76% stake in Renom Energy Services Private Limited, which is India's largest multi-brand operations and maintenance service provider, managing 1,782 MW in wind assets, 148 MW in solar, and 572 MW in balance-of-plant (BOP) infrastructure across diverse customer segments. This strategic acquisition enhances Suzlon’s capabilities in managing various renewable assets and strengthens its presence in the O&M market.

In a move to support its growth strategy, Suzlon monetized its corporate headquarters, ‘One Earth,’ for ₹440 crores. This decision aligns with the company’s objective to become asset-light and efficiently utilize capital to expand its order book.

Suzlon's flagship S144 wind turbine model, designed for low wind conditions, continues to drive demand, supported by a firm order book of 4.7 GW. To meet this increasing demand, the company is ramping up its manufacturing capabilities, demonstrating its commitment to product innovation.

On the human resources front, Suzlon’s workforce has grown to over 7,700 employees. The company has doubled its diversity initiatives, launched new talent development programs, and recorded 1.54 lakh learning hours among its staff, thereby enhancing its operational continuity and capacity to deliver on large-scale projects.

HBL