Indian wind major Suzlon posts 91% profit jump in Q3
Suzlon Group, one of India’s largest renewable energy solutions providers, reported a 91 per cent year-on-year increase in net profit to ₹388 crores for the third quarter ended December 31, 2024. The company’s revenue grew by 91 per cent to ₹2,969 crores, driven by record quarterly deliveries of 447 MW.
The shares of Suzlon Energy Limited closed at ₹50.44 up by ₹0.21 or 0.42 per cent on the NSE today.
The wind turbine manufacturer’s EBITDA rose 102 per cent to ₹500 crores, with an EBITDA margin of 16.8 per cent. The company’s order book reached an all-time high of 5.5 GW, with Commercial & Industrial (C&I) and Public Sector Undertaking (PSU) customers now accounting for approximately 80 per cent of total orders.
Suzlon has expanded its manufacturing capacity to 4.5 GW annually after revamping its Puducherry and Daman Nacelle facilities. The company is adding two production lines at its Ratlam and Jaisalmer facilities to meet growing demand.
The company’s S144 wind turbine model continues to dominate the Indian market, representing 92 per cent of the current order book. Suzlon recently achieved a milestone by delivering its 300th S144 wind turbine.
CRISIL Ratings has upgraded Suzlon’s credit rating to ‘CRISIL A’ from ‘CRISIL A-’ with a positive outlook, marking the second upgrade in 2024. The company currently manages about 15 GW of assets in India and an additional 6 GW installed internationally.
