suzlon energy share price target 2030:Suzlon Energy Ltd, established in 1995, is a prominent manufacturer of wind turbine generators and related components. Over the years, the company has made significant strides in the renewable energy sector, showcasing its prowess in manufacturing, project execution, and maintenance of wind turbine generators. This article delves into the various facets of Suzlon Energy Ltd, including its history, products, services, financials, and recent developments.
About Suzlon Energy Ltd
Suzlon Energy Ltd has been a key player in the renewable energy solutions sector, having installed over 20 GW of wind energy across 17 countries. The company’s client portfolio includes a wide array of power utilities and electricity producers, both in the private and public sectors. Suzlon’s commitment to innovation and sustainability has propelled its growth in the industry.
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Business Overview
The company’s core business revolves around the manufacturing, project execution, and operation of wind turbine generators. With a capacity of 13,880 MW spread across 111+ wind farms, Suzlon Energy Ltd has established itself as a leader in the field of renewable energy.
Product Profile
Suzlon Energy Ltd boasts an impressive product lineup, including the S144, S133, and S120 Wind Turbine Generators. These turbines are designed to cater to various wind regimes, making them ideal for a wide range of environments. Additionally, the company has phased out its older models to focus on newer, more efficient turbines.
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New Products – FY22
In the fiscal year 2022, Suzlon Energy Ltd introduced a 3 MW product series, which offers a customizable platform to meet site-specific requirements. The company also installed India’s tallest wind turbine, standing at 160 meters, to maximize yields from low wind sites.
Services & Solutions Offered
Apart from manufacturing turbines, Suzlon Energy Ltd provides operations and maintenance services for its commissioned wind energy projects. The company also offers turnkey project services and solar energy solutions, showcasing its commitment to providing comprehensive renewable energy solutions.
Clientele
Suzlon Energy Ltd boasts an impressive clientele, including renowned names such as ACC, Adani Renewables, Aditya Birla Group, and Tata, among others. This demonstrates the company’s strong market presence and reputation in the industry.
Revenue Breakup – FY22
In the fiscal year 2022, Suzlon Energy Ltd derived approximately 73% of its revenue from the sale of wind turbines and other parts, while the remaining 27% came from operation and maintenance services.
Geographical Revenue Split – FY22
The company’s revenue is predominantly generated from domestic sales, accounting for approximately 94% of its revenue. Outside India, Suzlon Energy Ltd generates around 6% of its revenue, with Europe, the USA, and Canada being key markets.
Debt Restructuring
In an effort to reduce its debt burden, Suzlon Energy Ltd completed a refinancing exercise in FY22, replacing 16 lender consortiums with 2 government-backed financial institutions. This move has helped the company strengthen its financial position.
Rights Issue
The company completed a rights issue in Q3FY23, raising Rs.600 Cr, which was utilized to prepay its debt obligations. Additionally, Suzlon Energy Ltd received Rs.510 Cr in March 2023 from the second tranche of its rights issue, further aiding in debt reduction.
Changes in Subsidiaries
Suzlon Energy Ltd is in the process of merging Suzlon Power Infrastructure Limited with Suzlon Global Services Limited, pending approval from NCLT, Chennai Bench. The company is also awaiting approval for the demerger of Suzlon Gujarat Wind Park Limited’s project execution and power evacuation business into Suzlon Global Services Limited.
Increase in Share Capital
In FY22, Suzlon Energy Ltd increased its authorized share capital from Rs.9,200 Crore to Rs.11,000 Crore, indicating its plans for future growth and expansion.
Allotment & Conversion
In May 2022, the company allotted 57,14,28,572 equity shares and converted the entire outstanding value of Optionally Convertible Debentures issued to existing lenders, aggregating Rs.4,099.18 Crore. Additionally, Suzlon Global Services Limited converted Compulsorily Convertible Preference Shares into equity shares.
Sale of Assets
Suzlon Energy Ltd intends to dispose of one of its freehold land assets for Rs.3.51 Crore. The company has also impaired its investments in four associates engaged in the business of electricity generation through solar energy.
Order Book
The company secured several significant orders in 2023, including a 69 MW order for the 3 MW series from a leading Nordic Energy Company, a 25.2 MW order from Sri Kumaraswamy Mineral Exports Pvt. Ltd, a 204 MW order from Serentica Renewables, and a 300 MW order from Torrent Power Limited, showcasing its strong order book and market presence.
Change of CEO
In April 2023, Mr. Ashwani Kumar resigned as CEO of Suzlon Energy Ltd and was replaced by Mr. J.P. Chalasani, who brings a wealth of experience and expertise to the role.
Death of Founder
Tulsi Tanti, the founder of Suzlon Energy Ltd, passed away in October 2022, leaving behind a legacy of innovation and sustainability in the renewable energy sector.
The Downfall & Recovery
Suzlon Energy Ltd faced significant challenges during the 2008 global economic downturn, which led to a substantial erosion in its market cap. However, the company slowly started to recover in 2014, capturing a 20% market share of the Indian Wind Turbine Market, showcasing its resilience and determination.
Conclusion
Suzlon Energy Ltd has cemented its position as a key player in the renewable energy sector, with a strong focus on innovation, sustainability, and growth. The company’s commitment to providing comprehensive renewable energy solutions has enabled it to carve a niche for itself in the industry, and its future prospects look promising.
