The company recorded a profit before tax of Rs 323.08 crore during the fourth quarter as compared with a pre-tax loss of Rs 32.97 crore reported in the same quarter last year.

During the quarter, EBITDA grew 21.35% YoY to Rs 233 crore. EBITDA margin improved to 13.8% in Q4 FY23 as compared with 7.9% posted in Q4 FY22.

Net debt reduced to Rs 1,180 crore as on 31 March 2023 as against Rs 5,796 as of 31 March 2022.

On full year basis, the company reported consolidated net profit of Rs 2,849.01 crore in FY23 as against Rs 199.59 crore in FY22. Revenue from operations skid 8.8% to Rs 5,946.84 crore in the financial year ended 31 March 2023.

Girish Tanti, vice chairman of Suzlon Group said, “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 long‐term growth of the company. With a slew of encouraging policy initiatives from the government in 2023, the sector now has much needed visibility, providing momentum for industries to kick‐start their journey to net zero, thereby driving balanced and viable growth of the sector.”

JP Chalasani, chief executive officer of 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 S144 – 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.”

Himanshu Mody, chief financial officer, Suzlon Group, said, “Our balance sheet is stronger and leaner as a result of net debt reduction to Rs 1,180 crore with the successful rights issue in FY23 playing a crucial role. Our consolidated FY23 PAT before exceptional items of Rs 167 crore is the highest reported by the company in 6 years and we turned net worth positive after a decade. With consistent efforts, I am happy to say that all balance sheet issues of the past have been resolved in FY23 and our fundamentals have strengthened with a bottom‐line focus. These results have come at the right time when India's overall financial climate is encouraging wherein inflation is under control, and the economy is showing great resilience going forward.”

The Suzlon Group is one of the leading renewable energy solutions provider in the world with presence in 17 countries.