Suzlon energy Q1 results: Suzlon Energy Limited (Suzlon Energy Ltd.) declared the results of the June 11 on Tuesday, August 11. The company’s performance was strong on an annual basis. However, some areas declined compared to the March quarter.
Annual increase in revenue and profit
The net profit of Suzlon Energy in the June quarter increased by 7.3% to ₹ 324 crore, which was ₹ 302 crore last year. Revenue increased by 55% to ₹ 3,132 crore. It was ₹ 2,020 crore in the same period last year. Ebitda increased 62.1% to ₹ 599 crore. The Ebitda margin also increased from 18.28% to 19.13%.
Margin improves even after the cost increased
The company improved margins despite the increase in tax and financial costs. Different tax expenditure during the quarter was ₹ 134 crore, compared to zero last year. Finance cost also increased from ₹ 44.52 crore to ₹ 103.07 crore.
Suzlon Energy clarified that the defined tax expenditure will be adjusted with an advance tax asset of more than ₹ 600 crore made in the last quarter. It will not have any effect on cash flow.
Record delivery and strong order book
In the June quarter, Suzlon delivered 444 MW, the highest in the company’s history. In the quarter, new orders of 1 gigawatt were received, causing the total order book to reach 5.7 GW.
75% of these orders are related to commercial and industrial (C&I) and public sector companies (PSU). The delivery was 573 MW in the March quarter.
What did Suzalon’s management say?
Suzalon Group CEO JP Chalasani said, “India’s renewable energy industry is increasing on the auction and growing C&I demand of big government companies. With the annual domestic manufacturing capacity of 4.5 GW, we are in a strong position to advance the country’s clean energy future.”
The company has informed about the resignation of its Chief Financial Officer (CFO) Himanshu MODY. He is leaving the post after a four -year term.
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Suzlon Energy shares
Suzlon Energy’s stock remained almost stable on Tuesday before the results were announced. It closed at ₹ 63.22 with a slight decline of 0.16%. During the last 6 months, the stock has given a return of 20.65%.
Suzlon’s stock has come down 21.33% in the last 1 year. But, if you look at the figure of the last 5 years, Suzlon has given a multibagger return of 1,599.46%.
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