Suzlon’s Q4 FY 2013/14 net loss shrinks

Jun 2, 2014 - Indian wind turbine maker Suzlon Energy (BOM:532667) on Friday reported a net loss of INR 6.03 billion (USD 101.9m/EUR 74.7m) for its fourth fiscal quarter through March, narrowing from INR 19.1 billion a year earlier.

Chairman Tulsi Tanti noted that the company was “transiting from a restructuring mode to a growth phase” in view of the favourable industry forecast both at home and on international markets. In January 2013 the Indian group got the green light from its domestic lenders to carry out aн INR-95-billion corporate debt restructuring programme. In fiscal 2014/15, Suzlon will seek to boost volumes, enhance business efficiency and rebalance its capital structure, Tanti added.

Suzlon booked a profit from operations before other income, finance costs, exceptional items and tax, or EBIT, to INR 1.15 billion after a loss of INR 7.9 billion a year before.

Revenue in the period marked a 54% year-on-year jump to INR 65.8 billion thanks to a favourable geographic and product mix and reduced costs. Suzlon’s order book at the end of March was about 5.3 GW, which translates into a value of INR 461 billion.

The Indian turbine maker closed fiscal 2013/14 with a net loss of INR 35.19 billion, reduced from INR 47.2 billion in 2012/13. Revenues increased to INR 202.1 billion from INR 187.4 billion. Suzlon managed to cut its working capital ratio in fiscal 2013/14 to 3.6% from 13.6% in the previous fiscal year.

(INR 100 = USD 1.689/EUR 1.239)

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