Q2 2025 Suzlon Energy Ltd Earnings Call Transcript
Key Points
- Suzlon Energy Ltd (BOM:532667) secured the largest ever single order in the Indian wind industry from NTPC Green for 1.166 megawatts, boosting their order book to over 5 gigawatts.
- The company acquired Renom, marking a strategic entry into the multi-brand O&M sector, which is expected to enhance fleet size and profitability.
- Suzlon successfully monetized a non-core asset, their corporate office, for INR440 crores, strengthening their financial position.
- The company reported a 48% year-on-year growth in consolidated revenues for Q2 FY25, reaching INR2,093 crores.
- Suzlon's EBITDA grew by 31% to INR294 crores in Q2 FY25, with a strong EBITDA margin of 14.1% despite increased investments in organizational and technological capabilities.
- The EBITDA margin saw a slight decrease compared to Q2 FY24 due to increased investments in organizational buildup and technological advancements.
- The industry commissioned only 1,476 megawatts in the first half of FY25, below expectations due to monsoon disruptions.
- There was a rise in employee costs, partly due to non-cash provisions of INR32 crores for ESOPs granted to employees.
- Finance costs increased due to processing fees for securing working capital and lease rental expenses following the divestment of the One Earth property.
- The company's gross margin in the WTG segment was slightly lower this quarter, attributed to commodity price fluctuations and other cost of goods sold items.
Ladies and gentlemen, good day, and welcome to the Suzlon Energy Limited Q2 FY25 earnings conference call. During this call, the company management may make certain statements that reflect their outlook for the future, which could be constituted as forward-looking statements. These statements are based on management's current expectations and are associated with uncertainties and risks as detailed in the annual report. Actual results may differ, so these statements should be reviewed in conjunction with the risks the company faces. (Operator Instructions) Please note that this conference is being recorded.
We will bring the opening remarks followed by a Q&A session. To be fair to others, we kindly request each participant to ask no more than two or three questions. From the management, we have with us Mr. J.P. Chalasani, Group CEO; and Mr. Himanshu Mody, Group CFO.
Over to you, J.P. Chalasani, sir. Thank you.
Good evening. We appreciate you joining us for Q2 FY25 earnings
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