Suzlon’s FY24 Revenue Zooms 9% To Rs 6,497 Cr; Order Book At All Time High

Renewable energy solutions provider Suzlon reported its corporate earnings for the quarter ended 31 March, 2024, posting a consolidated revenue of Rs 2,179 crore and the topline for FY24 zoomed 9 per cent to Rs 6,497 crore.

Suzlon in the corresponding quarter last fiscal reported a revenue of Rs 1,689 crore, while for the full fiscal it had reported its topline at Rs 5,946 crore.

“FY24 has been a year of consolidation and steady progress. In addition to our order book expansion, we have done well on the technology, manufacturing, and EPC fronts. We launched our S144 - 3.x MW series and garnered a sizeable order book for the same,” said JP Chalasani, Chief Executive Officer, Suzlon Group.

Chalasani further highlighted, the commercialisation of the S144 was completed and delivered to the market as per plan. During the year, we commissioned 882 MW, which is a growth of 78 per cent over the previous year. 

The firm’s earnings before interest, tax, depreciation, amortisation (EBITDA) for the fourth quarter stood at Rs 357 crore with a 16.4 per cent margin. EBITDA for FY24 stood at Rs 1,029 crore with a 15.8 per cent margin.  

Suzlon posted a net profit of Rs 714 crore in FY24, whereas for the Q4FY24, the net stood at Rs 281 crore.

"FY24 has been a year of sound financial performance across all parameters. This year saw profits and profit growth across all four quarters. We continue to maintain a cost-conscious approach even while factoring in our growth plans. Our priority remains timely execution of our order book, and I believe that we are moving in the right direction. I am excited about the organisation-wide digitisation and digitalisation initiatives that will help unlock value across our businesses, particularly the service business,” said Himanshu Mody, Chief Financial Officer, Suzlon Group.

The firm’s order book stands at 3.3 giga watt (GW), its largest ever.

“We stacked up our largest ever order book of value‐driven orders for more than 3.3 GW. We also added several leading Indian conglomerates to our customer portfolio with long‐term relationships and repeat orders. This aligns well with our commitment to powering the industries’ net‐zero commitments with green energy,” said Girish Tanti, Vice Chairman, Suzlon Group