The Suzlon Energy Limited Annual Report for FY 2023-24 highlights a year of substantial progress across financial and operational parameters. Here are the key takeaways:
1. Financial Performance
Revenue Growth: Suzlon reported a 20% growth in consolidated revenue from operations, reaching ₹ 6,497 crore in FY 2023-24, compared to ₹ 5,947 crore in FY 2022-23(bd2b3794-e202-4cba-9270…).
EBITDA: The company achieved an EBITDA of ₹ 1,029 crore, with EBITDA margins of 15.8%, reflecting strong operational performance(bd2b3794-e202-4cba-9270…).
Profit After Tax (PAT): Suzlon’s PAT before exceptional items grew by 428% YoY, reaching ₹ 714 crore(bd2b3794-e202-4cba-9270…).
Net Debt: Suzlon reduced its net debt to a net cash positive position of ₹ 1,148 crore, indicating strong financial discipline(bd2b3794-e202-4cba-9270…).
2. Operational Highlights
Order Book: Suzlon achieved its largest-ever order book since 2017, with 3.8 GW of wind turbine orders, mostly driven by its new 3.x MW S144 series(bd2b3794-e202-4cba-9270…).
Wind Installations: The company contributed 32% to India’s wind energy market in FY24, with Suzlon's wind capacity growing by 78% in FY24, compared to the sector’s 43% growth(bd2b3794-e202-4cba-9270…)(bd2b3794-e202-4cba-9270…).
Technological Advancements: The S144 turbines (3.x MW series), Suzlon's latest technology, deliver 40-43% higher energy yields over previous models, contributing significantly to the company's performance(bd2b3794-e202-4cba-9270…).
3. Sustainability and ESG Initiatives
Carbon Reduction: Suzlon's global wind installations have helped reduce 53.37 million tonnes of CO2 annually, equivalent to planting 4.45 billion trees(bd2b3794-e202-4cba-9270…).
Green Buildings: The company is converting its manufacturing units into 100% green buildings, reflecting its commitment to sustainability(bd2b3794-e202-4cba-9270…).
CSR Impact: The Suzlon Foundation positively impacted over 1.23 million people and planted nearly 1.9 million trees, contributing significantly to environmental and social well-being(bd2b3794-e202-4cba-9270…).
4. Awards and Recognitions
Suzlon received several prestigious awards in FY24, including:
ESG Award 2023 by The Economic Times(bd2b3794-e202-4cba-9270…).
Recognized as Best OMS Service Provider at the Indian Wind Energy Forum 2023(bd2b3794-e202-4cba-9270…).
Turnaround CFO of the Year awarded to Suzlon's CFO, Himanshu Mody, for exceptional financial restructuring(bd2b3794-e202-4cba-9270…).
Conclusion
Suzlon Energy Limited demonstrated strong financial recovery, technological innovation, and a significant focus on sustainability in FY 2023-24. Its robust order book, improved balance sheet, and leadership in the wind energy sector make it well-positioned for future growth in renewable energy.
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