Suzlon Energy Ltd · NSE:SUZLON
Suzlon Energy — Q3 FY2024 Earnings Presentation
27 slides from Suzlon Energy's earnings presentation, Jan 31, 2024
Slide 1: Suzlon Energy Limited Investor Presentation Q3 FY24
Suzlon Energy Limited Investor Presentation Q3, FY24 31st January 2024 Suvarda Wind Farm, Gujarat, India 1
Slide 2: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Suzlon Energy Limited (the “Company”) solely for information purposes DOES not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form
Slide 3: Industry Outlook
INDUSTRY OUTLOOK SUZLON STRENGTHS FINANCIAL PERFORMANCE Suvarda Wind Farm, Gujarat, India 3
Slide 4: Renewable Energy growth to be driven by Wind & Solar
Renewable Energy growth to be driven by Wind & Solar Installed Power Generation Capacity Mix (GW) 500 GW of Hydro non-fossil fuel energy Solar, 78 (10%) Fossil Fossil Fuel Fuel capacity by 2030 240 (56%) 293 (38%) Hydro 277 52 (12%) (35%) 1 bn tonnes 50% reduction in renewables in Dec’23 carbon the
Slide 5: Favorable market conditions for Indian Wind Industry
Favorable market conditions for Indian Wind Industry Strong Domestic Demand Outlook Key Demand Drivers 1. Onshore wind potential: 695 GW (120m HH) and 1,164 GW (150m HH) 4th 100 GW Largest Wind Market Installed Wind Energy 2. Wind bids with state specific sub-bids and pooling* of tariff in the world
Slide 6: Suzlon Strengths
INDUSTRY OUTLOOK SUZLON STRENGTHS FINANCIAL PERFORMANCE Suvarda Wind Farm, Gujarat, India 6
Slide 7: Suzlon Strengths
Suzlon Strengths ~20.5 GW* ~32% Global installed Wind Cumulative Market Energy Capacity Share in India 6,300+ Own WTG Technology & in-house R&D Global Workforce Well established product portfolio As on 31st Dec 2023 *Includes installed capacity of ~14.5 GW in India 7
Slide 8: Suzlon's Strengths in Indian Wind Energy Market
Suzlon’s Strengths in Indian Wind Energy Market No.1 OEM in India’s Renewable Sector End-to-end Pan India Technology Service Presence Leadership Provider Best-in-class Strong 28 Years Service Customer Track Capabilities Relationship Record Strong presence across value chain & customer segments As on
Slide 9: Key clientele among marquee customers globally
Key clientele among marquee customers globally And many more customers….. 9
Slide 10: Geographically diversified manufacturing base
Geographically diversified manufacturing base Best-in-class manufacturing capability Vertically integrated low-cost supply chain Manufacturing locations across India* India Manufacturing Sufficient & flexible manufacturing Capacity ~3,1501 MW capacity to cater to the market India’s windy states Othe
Slide 11: Product Optimized for Higher Energy Output
Product Optimized for Higher Energy Output +15% AEP +43%/49% AEP Rotor Diameter Rotor Diameter 144m Rotor Diameter 120m 111m Hub Height Hub Height Hub Height 140m 140/160m 120m S111-120 (2.1 MW) S120-140 (2.1 MW) S144-140/160 (3.0 MW - 3.15MW) Consistent Reduction of Levelised Cost of Energy (LCoE)
Slide 12: S144: Under Serial Production
S144: Under Serial Production Major Updates: • Requisite certifications and RLMM listing in place • Enthusiastic customer response, • S144 orderbook around 2,400 MW • Production ramp-up and supply started in line with commercialization plans Suzlon Wind Farm, Gondal Gujarat Suzlon Wind Farm, Sangane
Slide 13: Overview of India OMS capabilities
Overview of India OMS capabilities Key Numbers Presence in all windy states in India Installed base as on ~14.5 GW 9,700+ USD 10 Bn 31st Dec 2023 of ~14.5 GW Installed Base Turbines Assets under management 2.3 GW Rajasthan 0.5 GW Madhya Pradesh 1,900+ 94 3,500+ Customers Sites Team 4.0 GW Gujarat ~3
Slide 14: Wind Order Book
Wind Order Book WTG Model mix* Project segment mix* Wind Order Book (in MW) 3,157 Captive/C&I/ S144 Retail S133 47% 75% 53% 2% 2,290 S120 Central & 23% State Auctions 1,613 1,433 Scope mix* State mix* 652 MP GJ KA Non 3% 14% 36% EPC 72% TN EPC** 14% AP Mar'23 Jun'23 Sep'23 Dec'23 Jan'24^ MH 28% 13%
Slide 15: Management Profile
Management Profile Vinod Tanti Girish Tanti JP Chalasani Himanshu Mody Rajendra Mehta Chairman and Vice Chairman Group CEO Group CFO Group CHRO Managing Director Tulsi Tanti Founder, Late Chairman and Managing Director Sandeep Chowdhury Bernhard Telgmann Ishwar C Mangal Sairam Prasad Venkat Subraman
Slide 16: Awards and Recognition FY24
Awards and Recognition FY24 GWEC The Times Group Great Place to IMEA IWTMA Felicitated our Best Construction and Work, Institute Superior Operations Honouring Shri Tulsi Founder and late Infrastructure Brands - Suzlon Energy Ltd Award by Frost & Tanti for contribution CMD, Shri Tulsi Tanti Renewable
Slide 17: Financial Performance
INDUSTRY OUTLOOK SUZLON STRENGTHS FINANCIAL PERFORMANCE 17 Suzlon Wind Farm, Welturi, Maharashtra
Slide 18: Highlights of the Performance
Highlights of the Performance ✓ Consistent operating performance across all business segments ✓ Higher EBITDA on YoY basis on back of healthier margins ✓ PAT (before exceptional items) for 9MFY24 of Rs 433 crores v/s 9MFY23 of Rs 98 crores (YoY growth 4.4 times) ✓ Net cash position of Rs ~719 crores
Slide 19: Transformation…
Transformation… (₹ Cr.) Revenue EBITDA (Pre-Fx) 6,520 829 839 5,947 678 539 605 4,257 4,318 2,933 3,295 -423 FY20 FY21 FY22 FY23 9MFY23^ 9MFY24^ FY20 FY21 FY22 FY23 9MFY23^ 9MFY24^ Gross Debt PAT (before exceptional items) 433 13,137 167 98 6,859 6,391 -249 1,905 -705 122 -2,626 FY20 FY21 FY22 FY23
Slide 20: WTG Division – Key Performance Indicators
WTG Division – Key Performance Indicators Wind capacity additions in India (in GW) Installations by Suzlon (in GW) Suzlon Market Share 5.6 Introduction of E-reverse auction Covid impact 32% 29% 36% 16% 5% 42% 22% 29% E-reverse auction in Feb’17 discontinued in Jan’23 1.8 2.1 2.2 2.3 2.1 1.6 1.5 0.6
Slide 21: OMS India Division - Key Performance Indicators
OMS India Division1 - Key Performance Indicators Revenue & EBITDA trend (Rs. in Cr.) Installed Capacity Base (GW) Revenue EBITDA EBITDA % 14.5 1,668 13.9 1,499 1,566 13.4 1,436 1,298 1,219 1,280 12.8 12.9 46.9% 12.5 45.5% 47.3% 42.9% 43.4% 44.9% 39.2% 673 682 741 715 575 509 529 62^ 513 FY19 FY20 FY
Slide 22: Foundry & Forging Division – Key Performance Indicators
Foundry & Forging Division – Key Performance Indicators Operating Revenue & EBITDA trend (Rs in Cr.) Revenue (Rs in Cr.) Op. Revenue EBITDA EBITDA % 16% 0% 6% 16% 18% 14% 36% 477 472 477 472 Suzlon Others 432 432 0 77 86 Suzlon share 17.8% 357 334 332 357 334 16.6% 332 324 324 58 20 46 11.9% 118 9.9
Slide 23: Consolidated Income Statement
Consolidated Income Statement (₹ Cr.) Q3 FY24 Q2 FY24 Q3 FY23 9M FY24 9M FY23 FY23 Particulars Unaudited Unaudited Unaudited Unaudited Unaudited Audited Net Volumes (MW) 170 132 170 437 482 664 Net Revenue 1,553 1,417 1,449 4,318 4,257 5,947 Contribution 565 546 492 1,616 1,439 1,965 Contribution Ma
Slide 24: Consolidated Balance Sheet
Consolidated Balance Sheet (₹ Cr.) Dec-23 Mar-23 Mar-22 Particulars Unaudited Audited Audited Equity & Liabilities Net Worth 3,626 1,099 (3,526) Non-controlling interests - - (36) Borrowings (non-current and current) 122 1,905 6,391 Non-current Liabilities 192 206 210 Current Liabilities 2,340 2,313
Slide 25: Glossary
Glossary 1. AEP – Annual Energy Production 17. LCoE – Levelized Cost of Energy 2. BOP – Balance of Plant 18. MNRE – Ministry of New And Renewable Energy 3. BESS – Battery Energy Storage System 19. MT – Metric Ton 4. C&I – Commercial and Industrial 20. MW – Megawatt 5. CEA - Central Electricity Autho
Slide 26: References
References https://www.seci.co.in/ https://cea.nic.in/ https://mnre.gov.in/ https://niwe.res.in/ https://powermin.gov.in/ https://www.mercomindia.com/ http://www.cercind.gov.in/ https://gwec.net/globalwindreport2023/ https://gwec.net/india-wind-energy-market-outlook-2023-2027-report/ https://www.cri
Slide 27: Thank You!
Thank You! Email contact for queries: investorrelations@suzlon.com Suzlon Wind Farm, Weltur, Maharashtra 27