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Suzlon sees revenues rising by 44% to Rs260 billion in FY12

Suzlon Energy, reported its previous quarter numbers  in early February  . According to the company, Net sales fell 20.7% Rs. 4432.90 crore in Q3 December 2010 over Q3 December 2009.

The company reported a stand-alone net profit for the third-quarter ended December 31, 2010 of Rs.1.20 crore, compared with a net loss of Rs.285.14 crore in the corresponding quarter last year. Total revenue grew to Rs.1,292.24 crore from the Rs.810.50 crore for the same period last year.

On a consolidated basis, the company reported a net loss of Rs.253.57 crore, whereas it reported a net profit of Rs.14.10 crore in Q3FY10. Total revenue was Rs.4,528.25 crore. While it was Rs.5,625.90 crore in the year-ago quarter.  Net debt-to-equity ratio was 1.5 times.

Suzlon  announced an impressive cumulative 35% rise in orders  from October to a record $7.3 billion, equal to about 5,000 MW of power capacity on a consolidated basis.The Suzlon Wind orderbook stood at 2,578 megawatts (MW) (Rs 14,600 crore), with 1,624 MW (Rs 9300 crore) in domestic orders and 954 MW (Rs 5300 crore) in international orders as on 4 February 2011.

According to reports, wind turbine maker Suzlon Energy, which returned to the black in Q4 FY11, is targeting to increase its total revenues by around 44% to up to Rs 26,000 crore in FY12, a senior executive has said.

“Our revenues were around Rs 18,000 crore in FY11 and we are targeting them to grow to Rs 24,000 crore to Rs 26,000 crore range in the next financial year,” Suzlon Chief Financial Officer Robin Banerjee told PTI.

For FY12, the Pune-headquartered firm is targeting an earnings before interest and taxes to be in 7-8% of the total sales, he added.

Banerjee said the company, which had an order book of Rs 30,100 crore as of May 13, will be concentrating on its established business areas in India, China, Brazil, South Africa and Latin American countries for achieving growth.

Though the company does not have any immediate plan of foraying into any newer market beyond the 32 countries it is already present in, it is looking at having a presence in the Uruguay and Peru, he said.

The company has no capital expenditure-intensive project lined-up for FY12 and will not be going for any fund raising either, he said.

Suzlon’s debt-to-equity ratio improved to 1.36:1 in Q4 FY11 as compared to 1.50:1 in the same period previous year.

For the three months ended March 31, Suzlon posted a consolidated net profit of Rs 431.59 crore as compared to a net loss of Rs 188.47 crore in the corresponding period last year. On a yearly basis, its net loss increased to Rs 1,103.43 crore in FY11 from the previous fiscal’s Rs 982.56 crore.

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