Suzlon Energy Ltd.'s profits surged nearly twofold in the second quarter of fiscal 2025.
The wind turbine manufacturer reported a bottom line of Rs 200.60 crore in the July-September quarter, compared to Rs 102.29 crore in the same period last year, according to an exchange filing on Monday.
Suzlon Energy Q2 Results: Key Highlights (Consolidated, YoY)
Revenue up 48.0% to Rs 2,103.38 crore versus Rs 1,421.43 crore.
Net profit up 96% to Rs 200.60 crore versus Rs 102.29 crore.
Ebitda is up 31% to Rs 294.18 crore versus Rs 225.04 crore.
Margin at 14.0% versus 15.8%.
Order Book
As of Oct. 28, 2024, the company's wind order book is at its highest ever point at 5.1 GW, marking an 8.5% increase from its value as of Sept 2024 at 4.7 GW. The company's order book as of Sept 2023 stood at 1.6 GW.
Besides, 54% of the current order book is from the captive, retail, or commercial and industrial segments; 24% is from central and state auctions, while the balance is from public and state undertakings.
Approximately 22% of the order book has EPC scope, and 91% of the order book is for the S144 wind turbine model of the company.
Wind Turbine Generator Division: Key Highlights
The WTG division of the company added 1.5 GW of wind capacity additions and delivered 530 MW in the first half of the financial year ending March 2025. The division's revenue and Ebitda for the first half of the financial year stood at Rs 3,004 crore and Rs 237 crore, respectively. Ebitda margin during the period stood at 7.9% compared to 4.3% in the year ago period. Contribution margin for the WTG division improved to 22.1% in the first half of fiscal 2025 from 20.5% in the first half of fiscal 2024.
As per Suzlon Energy, the performance of the company benefitted from the following factors:
Strong commercial fundamentals and higher commercial and industrial demand
Wind tariffs being at a sweet spot for all key stakeholders
Fortified balance sheet with adequate working capital
OMS India Division: Key Highlights
The OMS India divisions revenues and Ebitda margins in the first half of the ongoing financial year stood at Rs 931 crore and 40.7%, respectively, compared to Rs 858 crore and 38% in in the year ago period.
The installed capacity base now stands at 15 GW versus 14.7 GW as of the financial year ended March 2024.
SE Forge Division: Key Highlights
The revenue and Ebitda during the April-September period for the SE Forge division stood lower from values a year ago at Rs 175 crore and Rs 15 crore. The margin of the division contracted to 10.9% versus 12.5% a year ago. Capacity utilisation stood at 18% in the first half compared to 25% in the previous financial year.
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