Suzlon Energy Q4 Results: Key Takeaways
Suzlon Energy has reported significant financial and operational improvements in its Q4 results for the fiscal year ending March 2024. Here are the key highlights:
1. Debt Reduction: Suzlon has made remarkable progress in reducing its gross debt by 94%, bringing it down to Rs 110 crore in March 2024 from Rs 1,094 crore in March 2023. This substantial reduction underscores the company's commitment to strengthening its financial health.
2. Improved Cash Position: The company’s net cash position has seen a notable improvement, rising to Rs 1,148 crore at the end of March 2024 from Rs 719 crore at the end of December 2023. This improvement highlights Suzlon’s enhanced liquidity and financial stability.
3. Order Book Growth: As of May 2024, Suzlon's order book stood at 2,929 megawatts, representing a 27% increase from 2,290 megawatts as of March 2023. The company maintains a significant market share with an installed base of 14.7 gigawatts out of India’s total wind installed base of 45.9 gigawatts, equating to approximately 32% of the country’s wind energy capacity.
4. Record Installations: Suzlon achieved its highest annual installation since 2017, with installations totaling 0.9 gigawatts for the year ending March 2024. This is a 78% increase compared to the 0.5 gigawatts installed in the previous year, showcasing the company's robust operational performance.
5. Financial Performance: The net profit for Q4 March 2024 was Rs 254 crore, a decrease of about 9% from Rs 280 crore in the same quarter the previous year. Despite this decline in profit, Suzlon’s revenue from operations for the quarter surged by 29%, reaching Rs 2,179 crore compared to Rs 1,690 crore in the corresponding quarter of the previous year.
The overall improvement in working results suggests a positive outlook for the company. Investors holding Suzlon Energy shares are advised to continue holding and consider adding more shares in convenient lots. New investors might look at starting with small lots on market dips.
However, it is essential to note that this information is for educational purposes only and does not constitute a stock recommendation.
