Suzlon turns around; achieves consolidated net profit of Rs. 483 Crores in FY16

• FY16 revenue up by 69% to Rs. 8,259 Crores
• Robust normalised EBITDA margin over 15%
• Annual sales volume of 1,131 MW; Y-o-Y growth of 149%
• Increase in domestic market share from 19% in FY15 to 26% in FY16
• FY16 order intake of 1,251 MW, 3 times higher than in FY15

Pune, India: Suzlon Group, one of the leading global renewable energy solutions providers, today

announced its audited quarterly (Q4) and annual (FY16) results. 

FY16 Rs. 8,259 Crores against Rs 4,883 Crores in FY15; 69% growth Y-o-Y (*)

Q4 FY16 Rs. 3,244 Crores against Rs 1,889 Crores in Q3 FY16

FY16 EBITDA of Rs 1,295 Crores, EBITDA margin of 15.7% (*)

Q4 FY16 at Rs 487 Crores, EBITDA margin at 15%

FY16 at Rs. 8,452 Crores down from Rs. 14,570 Crores in FY15

FY16 order book stands at 1,243 MW valued at Rs. 7,989 Crores

Consolidated customer advance stands at Rs. 1,182 Crores which reflects the good quality of

order backlog.

FY16 net order intake of 1,251 MW as compared to 375 MW in FY15; 69% of the order

intake resulting from new products (S97-120m and S111-90m).

Q4 FY16 order intake at 790 MW

1. Technology and New product

o Opened a new research center in Vejle, Denmark to develop rotor blades and smart

control systems

o The S111-90 turbine received Type Certification for both 50 Hz and 60 Hz variants and

delivered 102% of its designed power curve

o The S111-120 meter hybrid tower prototype turbine was commissioned in Gujarat, India

2. Key order wins in [Q4 FY16]

o 197.40 MW from a leading power utility

o 105 MW maiden order from Greenko

o 71.40 MW from Gujarat Industries Power Company Ltd

o 81.90 MW turnkey orders from new and existing customers

o 48.30 MW from Indian Oil Corporation Limited

3. Debt optimisation

o In April 2016, Suzlon subsidiary AE-Rotor Holding B.V announced the redemption of

  SBLC backed Bonds of US$ 590.4 million (carrying a coupon of 4.97%) and availed a

  credit facility of an equivalent amount at a competitive coupon of 3.30% backed by the

  SBLC

o Foreign Currency Convertible Bonds (FCCBs) worth US$ 28.8 million were repaid along

   with the applicable redemption premium

4. Net Working Capital

o Reduced overall net working capital to ~14% of revenues from ~23% in Q3 despite 73%

   higher volumes

o Increase in debtors due to high volumes in end of Q4, part of which already realised in

   April 2016

5. SE Forge (a 100% subsidiary of Suzlon) exited CDR and received Investment Grade rating from

CARE

6. Management team was strengthened with the appointment of Mr. J. P. Chalasani, Group CEO

    and Mr. Rakesh Sarin, CEO, International business and Global Services

7. Market Outlook

o Wind Energy in India delivered its highest installation of over 3,400 MW in FY16 and is

   expected to grow by more than 30% in FY17

o India’s commitment at COP21 to achieve 40% renewables by 2030 will continue to fuel

   demand for clean energy

o Strong intent of the Government and supportive policy actions to enhance the role of

   renewables in India’s energy security

o Policy stability in USA with 5 year Production Tax Credit (PTC) extension will result in

   immense growth for wind energy in USA

o Global Wind Energy Council forecasts global wind energy capacity to double over the

   next five years, representing growing demand