Suzlon adds 268 MW wins in Q2 to beef up the order book to 1GW

Pune: Suzlon Energy on Friday reported a consolidated net loss of Rs 12.40 crore for the September quarter. Indias largest wind OEM Suzlon released its latest quarterly numbers showing a consistent performance QOQ and demonstrating strong numbers in spite of pricing pressure of commodity and logistics. The total income of the company stood at Rs 1,361.62 crore in the quarter a healthy 18% growth QOQ.

Ashwini Kumar CEO Suzlon in a statement mentioned the pricing pressure due to the hike in goods and service tax (GST) from 5% to 12%, and the increase in the price of commodities and freight charges will have a further adverse impact on the company’s margins.

He added that “We are happy to see that operations are smoothening further and the impact of COVID-19 is reducing slowly but surely across the value-chain in India. However, we are staying vigilant since global uncertainty around COVID-19 continues to persist. We have achieved installations of 113 MW in H1 FY22 and are focused on servicing our existing order book which stands at 1091 MW. The wind energy sector as a whole has been subdued with an addition of only 610 MW in H1 of FY22.”

Source: Order book as per Suzlon's Q2 investor presentation

The order book of the company has got an incremental win of 268 MW compared to the order book released in the earlier investor presentation. The combined order book stands at 1090.6 MW crossing the 1 GW mark after a span of 3 years. The company had reported an order book of 978 MW in the previous quarter of which 155MW was executed and 268MW of new orders was added from its list of marquee customers such as Adani Group, Apraava Energy, and Enel Group.