Q1 2025 Suzlon Energy Ltd Earnings Call Transcript
Key Points
- Suzlon Energy Ltd (BOM:532667) reported its best quarterly performance in seven years, driven by strategic and transformative steps taken over the past 3-4 years.
- The company has a robust order book of 3.8 gigawatts as of June 2024, the largest in its history.
- Suzlon Energy Ltd (BOM:532667) delivered 274 megawatts in Q1 FY25, which is double the 135 megawatts delivered in Q1 FY24.
- The company achieved a consolidated EBITDA of INR 370 crores, up by more than 86%, with an EBITDA margin of 18.4%.
- PAT for Q1 FY25 increased by 200% to about INR 302 crores, marking the highest quarterly EBITDA and PAT in almost seven years.
- The WTG contribution margin of 23% in Q1 may not be sustainable due to lower project execution activity.
- The Indian wind sector's commissioning of 770 megawatts in Q1 FY25 was below expectations, with many turbines in the pre-commissioning phase.
- The company faces execution challenges on the ground, including land acquisition issues and delays in substation readiness.
- A penalty notice of $20 million was received, which is currently a contingent liability and not yet recognized in the income statement.
- Revenue from operation and maintenance declined by INR 50-70 crores in Q1 FY25 compared to Q4 FY24 due to onetime billings and contract renewals in the previous quarter.
Ladies and gentlemen, good day, and welcome to the Suzlon Energy Limited Q1 FY25 Earnings Conference Call, hosted by ICICI Securities. During this call, the company management may make certain statements which reflect their outlook for the future or which could be construed as forward-looking statements. These statements are based on the management's current expectations and are associated with uncertainties and risks as fully detailed in the annual report, which may cause the actual results to differ. Hence, these statements must be reviewed in conjunction with the risk that the company faces. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Mohit Kumar from ICICI Securities. Thank you, and over to you, sir.
Thank you, Dipika. Good evening. On behalf of ICICI Securities Limited, I would like to welcome you all for the Q1 FY25 Conference Call of Suzlon Energy Limited. From the management, we have with us Mr. J.P.
Chalasani, Group CEO; Mr.
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