Suzlon Group, India's largest renewable energy solutions provider, announced its second quarter results for the financial year 2021-22 (Q2 FY22).
- Revenue of Rs.1,346.51 crores in Q2 FY22
- EBITDA of Rs. 232.71 crores in Q2 FY22 and EBITDA margin of 17.28%
Ashwani Kumar, Chief Executive Officer, Suzlon Group, said, "We are happy to see that operations are smoothening further and the impact of COVID-19 is reducing slowly but surely across the valuechain 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 focussed 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."
"The Indian wind energy industry is facing several issues, not allowing the sector to unlock its full potential. Increasing commodity prices and logistics costs along with the enhancement of GST on Goods from 5% to 12% will further result in higher project costs and impact margins making several current projects unviable."
Himanshu Mody, Chief Financial Officer, Suzlon Group, said, "Q2 of FY22 continued to see rising global demand which disrupted the supply chain, impacting availability and prices across the value chain eroding our margins and volumes. Despite that, we have kept our operations on track with most of the manufacturing facilities functioning in line with our business plan. We have maintained our quarter on quarter (QoQ) performance with a revenue of Rs. 1,346.51 crores and we continue to keep a strict control on costs. Despite the challenges of COVID-19, our Operations and Maintenance Service (OMS) business continued to deliver good turbine performance in Q2."
Shares of Suzlon Energy Limited was last trading in BSE at Rs. 6.91 as compared to the previous close of Rs. 6.97. The total number of shares traded during the day was 8527841 in over 28521 trades.
The stock hit an intraday high of Rs. 7.13 and intraday low of 6.83. The net turnover during the day was Rs. 59162344.00.