11th February 2012 FOR IMMEDIATE RELEASE
Suzlon Group Q3: Strong order momentum
Record US$ 7.5 bn order book
Q3 revenues of Rs. 4,985 cr / US$ 1 bn, 12% growth YoY
Robust Q3 gross margins of 33%
Record ~Rs. 37,200 cr / ~US$ 7.5 bn orderbook; quarter order intake of 1.5
GW; strong FY13 visibility; geographically diversified order inflows
Strong 12-months performance [Calendar Year 2011]: Revenues of Rs.
21,660 cr / US$ 4.36 bn – 30% growth YoY; EBIT margin at 7%; order inflows of
US$ 5.6 bn
FY2011-12 guidance revised to Rs. 21,000 cr – Rs. 22,000 cr; with EBIT margin
5 – 6%; due to lower Q3 volumes
Pune: Suzlon Energy Limited, the world’s fifth largest* wind turbine supplier, reported its
earnings today for the quarter ended December 31st, 2011.
Mr. Tulsi Tanti, Chairman – Suzlon Group, said: “Our performance over the past 12
months [Calendar Year 2011] has shown consistent improvement on all parameters. Our
revenues of Rs. 21,660 cr are a year-on-year growth of over 30 per cent; we booked orders
of over US$ 5.6 bn / Rs. 30,000 cr, and achieved an EBIT margin of 7 per cent, despite
what continues to be a challenging economic environment.
“However, it is unfortunate that inspite of having our best-ever orderbook, we have had
lower volumes in Q3 FY12, leading to a downward revision of our full year guidance. These
lower volumes were primarily due to an extended monsoon in India, grid infrastructure
delays in China, and a procedural delay in closing our new working capital facilities.
lower volumes in Q3 FY12, leading to a downward revision of our full year guidance. These
lower volumes were primarily due to an extended monsoon in India, grid infrastructure
delays in China, and a procedural delay in closing our new working capital facilities.
“As a Group we are extremely well positioned in the global marketplace, and with our strong
order backlog we expect to deliver nearly 40 per cent growth in revenues in the next fiscal.”
Mr. Robin Banerjee, Chief Financial Officer – Suzlon Energy Limited, said: “Focusing
on the third quarter, we have maintained our gross profit margins at a robust 33 per cent.
During Q3 we posted a cash profit of Rs. 26 cr, against a net loss of Rs. 286 cr, which was
primarily due to certain non-cash items like international deferred tax liabilities of Rs. 121 cr
and depreciation of Rs. 170 cr.
order backlog we expect to deliver nearly 40 per cent growth in revenues in the next fiscal.”
Mr. Robin Banerjee, Chief Financial Officer – Suzlon Energy Limited, said: “Focusing
on the third quarter, we have maintained our gross profit margins at a robust 33 per cent.
During Q3 we posted a cash profit of Rs. 26 cr, against a net loss of Rs. 286 cr, which was
primarily due to certain non-cash items like international deferred tax liabilities of Rs. 121 cr
and depreciation of Rs. 170 cr.
“We continue to see a rationalization in our operating expenses, including manpower costs.
We have made progress in leveraging Group synergies with the re-alignment of our
operations in Australia and Europe, alongside commencing manufacturing of the REpower
MM92 turbine in India.
We have made progress in leveraging Group synergies with the re-alignment of our
operations in Australia and Europe, alongside commencing manufacturing of the REpower
MM92 turbine in India.
“I am pleased to report that we have now received an incremental sanction of Rs. 1,100 cr
in our working capital facilities, which will facilitate our planned deliveries in Q4 and into the
next fiscal.”
in our working capital facilities, which will facilitate our planned deliveries in Q4 and into the
next fiscal.”
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