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Suzlon registers Rs 1,272 crore revenue in Q1 FY19

By Niranjan Mudholkar,

Added 06 August 2018

Healthy order backlog of 1,134 MW as on date

suzlon

Suzlon Group, India’s largest renewable energy solutions provider, has announced its unaudited quarterly (Q1 FY19) results. J P Chalasani, Group CEO, said, “Indian wind market is on a growth trajectory with 7.5 GW of capacity already auctioned, from this we have the highest order share. However, FY19 may not see huge commissioning volumes as the transition period is prolonging and as a result of the new bidding regime, project execution time has increased from 9 to 18 months. This has caused temporary delay in realizations. Nevertheless, industry is set to grow from FY20 onwards as projects won earlier, will be executed and new bids are in the pipeline. We have an order book of 1,134 MW. Suzlon is well positioned to cater to the growing market, with its slew of newly launched technologically advanced products offering higher Plant Load Factor (PLF) and reduced Levelized Cost of Energy (LCoE). We are also focussing on select profitable international market.” 

Kirti Vagadia, Group CFO, said, “We have delivered 155 MW in Q1 FY19, which is seasonally a low volume quarter. To ensure competitiveness under the new bidding regime; we remain focused on optimizing costs across the board, and further reducing our working capital levels. While we have withdrawn our FY19 operational guidance in light of the prolonged transition, we continue to maintain our debt reduction target of 30-40% by the end of FY19.”

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