Profit before tax stood at Rs 252.87 in fourth quarter of FY24, down 21.73% from Rs 323.08 crore posted in the corresponding quarter last year.

During the quarter, EBITDA stood at Rs 357 crore, up 53.22% from Rs 233 crore posted in corresponding quarter last year. EBITDA margin improved to 16.4% in Q4 FY24 as compared to 13.8% posted in Q4 FY23.

On a full year basis, the company recorded 73.47% drop in consolidated net profit to Rs 660.35 crore despite of 9.25% increase in revenue from operations to Rs 6,496.84 crore in FY24 over FY23.

Net cash stood at Rs 1,148 crore as of 31 March 2024 as against net debt Rs 1,180 as of 31 March 2023.

Girish Tanti, vice chairman of Suzlon Group, said, “We have been able to create a solid foundation over the last FY across all business verticals of technology, manufacturing, projects, and OMS. This positions the company strongly to lead the sector in years to come. We stacked up our largest ever order book of value‐driven orders for more than 3.3 GW. We also added several leading Indian conglomerates to our customer portfolio with long‐term relationships and repeat orders. This aligns well with our commitment to powering the industries’ net‐zero commitments with green energy.”

JP Chalasani, chief executive officer at Suzlon Group, said, “FY24 has been a year of consolidation and steady progress. In addition to our order book expansion, we have done well on the technology, manufacturing, and EPC fronts. We launched our S144 – 3.x MW series and garnered a sizable order book for the same. The commercialisation of the S144 was completed and delivered it to the market as per plan. During the year, we commissioned 882 MW, which is a growth of 78% over the previous year."

Himanshu Mody, chief financial officer of Suzlon Group, said, “Our consolidated balance sheet is strengthened with a sizable net worth of Rs 3,920 crore, consolidated PAT of Rs 714 crore, and a landmark EBITDA of Rs 1,029 crore. This year saw profits and profit growth across all four quarters. We continue to maintain a cost‐conscious approach even while factoring in our growth plans. Our priority remains timely execution of our order book. I am excited about the organisation‐wide digitisation and digitalisation initiatives that will help unlock value across our businesses, particularly the service business."

Suzlon Energy is engaged in the business of design, development, manufacturing and supply of wind turbine generators (WTGs). Suzlon Energy (SEL) is India's largest renewable energy solutions provider with presence in 17 countries across six continents.

The scrip shed 4.89% to end at Rs 45.89 on Friday, 24 May 2024.