Heavy Electrical Equipment company Suzlon Energy announced Q4FY23 & FY23 results: Revenue of Rs 5,947 crore in FY23; Rs 1,690 crore in Q4FY23 EBITDA of Rs 832 crore in FY23; Rs 233 crore in Q4FY23 PAT before exceptional items of Rs 167 crore in FY23; Rs 68 crore in Q4FY23 Cumulative Orders of 1,542 MW as of 30th May 2023 Current Net Debt at Rs 1,180 crore – ~80% YoY reduction Net worth positive after a decade at Rs 1,099 crore Successful Rights Issue of Rs 1,200 crore -1.8 times oversubscribed Successful launch of the powerful 3 MW series wind turbine technology platform to an overwhelming response from the market Girish Tanti, Vice Chairman, Suzlon Group, said, “It is heartening that our efforts to strengthen the organization and position it strongly in time to meet increasing market demand have been successful. As evident from these results we have closed FY23 with a strong financial performance and the successful launch of our powerful 3 MW technology platform. Our key strategic initiatives remain on track to fuel the long-term growth of the company. With a slew of encouraging policy initiatives from the government in 2023, the sector now has much-needed needed visibility, providing momentum for industries to kick-start their journey to net zero, thereby driving balanced and viable growth of the sector. As we embark on a revitalised growth journey, we would like to express our deepest gratitude to all our stakeholders for standing by us during challenging times and look forward to strengthening our relationship further in the next phase of growth for the Group.” JP Chalasani, Chief Executive Officer, Suzlon Group said, “FY23 has been a year of demonstration and consolidation for Suzlon. We have addressed our challenges comprehensively over the last three years and FY23 was a year where the results were there for all to see. We reduced our net debt by more than 90% percent over the last three years to address our capital structure issues while responding to the market requirement of a larger wind turbine through our 144 — 3 MW series technology platform. Today we have cumulative orders of 1,542 MW which is the highest since 2019 and includes the order book as on March 31, 2023, of 652 MW plus orders secured subsequently of 890 MW. Out of this 780 MW is for our new 3 MW series demonstrating the immense trust that our customers have in Suzlon’s expertise and product technology. We have worked tirelessly and successfully to strengthen every aspect of the company in line with the vision defined by our late CMD Shri. Tulsi Tanti, setting up the company strongly to leverage the tailwinds of the sector from a position of strength.” Result PDF