For Q2 FY25 ending September 30, 2024, Suzlon reported net revenue of ₹2,093 crores, marking a 48 per cent increase from the same period last year. Deliveries reached 256 MW, a 94 percent jump year-on-year, signalling strong demand in the renewable sector. EBITDA grew by 31 percent year-on-year to ₹294 crores, with an EBITDA margin of 14.1 percent, while net margin was recorded at 9.6 percent.

The company’s closing order book now stands at an all-time high of 5.1 GW, including India’s largest wind energy order from NTPC Green Energy Limited (NGEL) for 1,166 MW, representing three major projects in Gujarat.

Suzlon’s collaboration with NTPC Green Energy Limited, the renewable arm of NTPC, involves the installation of 370 wind turbine generators, each equipped with the advanced Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW.

Additionally, Suzlon secured a significant 400 MW order from JSP Green Wind 1 Pvt. Ltd., a subsidiary of Jindal Renewables, marking the largest win in the Commercial and Industrial (C&I) sector, further bolstering India’s clean energy goals.

Strategic acquisition

The quarter also saw Suzlon acquiring a 76 per cent stake in Renom Energy Services Private Limited, India’s largest multi-brand operations and maintenance service provider, which currently manages 1,782 MW in wind assets, 148 MW in solar, and 572 MW in balance-of-plant (BOP) infrastructure across various customer segments. This strategic acquisition will bolster Suzlon’s capabilities in managing diversified renewable assets and scaling its presence in the O&M market.

To support its growth and financial stability, Suzlon monetized its corporate headquarters, ‘One Earth,’ for ₹440 crores, aligning with its strategy to become asset-light and use capital effectively to support the expansion of its order book. This monetization aims to enhance Suzlon’s internal funding for growth-oriented projects.

Suzlon’s flagship S144 wind turbine model, engineered for low wind conditions, continues to drive demand with a firm order book of 4.7 GW. The company is ramping up manufacturing capabilities to meet this increasing demand, showcasing its commitment to product innovation.

On the human resources front, Suzlon’s workforce has expanded to over 7,700 employees. The company has doubled its diversity efforts, launched new initiatives for talent development, and clocked 1.54 lakh learning hours among its staff, further strengthening its operational continuity and capacity to deliver on large-scale projects.

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