Suzlon Energy Ltd · NSE:SUZLON
Suzlon Energy — FY2021 Earnings Presentation
28 slides from Suzlon Energy's earnings presentation, 2021
Slide 1: Suzlon Energy Limited Investor Presentation Financial Year 2021
Suzlon Energy Limited Investor Presentation Financial Year 2021
Slide 2: Disclaimer
Disclaimer • This presentation and the accompanying slides (the “Presentation”), which have been prepared by Suzlon Energy Limited (the “Company”), have been prepared solely for information purposes and DOES not constitute any offer, recommendation or invitation to purchase or subscribe for any secu
Slide 3: Suzlon Overview
Suzlon Overview 18,800+ MW 12,000+ No.1 in India’s Installed Wind Energy Capacity WTGs Installed Renewable Sector 5,450+ 1,800+ ~33% Workforce Customers Globally Cumulative Market share 3
Slide 4: End to End Strategy Clearly Defined
End to End Strategy Clearly Defined A Wind Resource Assessment 1. Large network of Met masts 2. Data collection for potential sites G Life Cycle Asset Management B Land Acquisition and Approvals 1. Long Term comprehensive OMS offering 1. Acquisition of land 2. Experienced manpower 2. Statutory appro
Slide 5: Profitability: Steps to mitigate challenges
Profitability : Steps to mitigate challenges Twin challenges arising out of low tariff and sharp increase in steel prices will have significant adverse impact on profitability Organisation has undertaken proactive measures to mitigate the impact of this COGS Reduction Reduced Manpower Continuous LCO
Slide 6: Key Updates for FY21
Key Updates for FY21 Continuity of orders from marquee customers demonstrate Suzlon’s strength in product and technology - RR of 204MW done in FY21 ; order book of 817.1 MW as on 31st Mar’21 Service business delivered good performance to customers despite Covid Successful completion of debt re
Slide 7: Financial Performance, Industry Outlook, Technology, Suzlon Strengths
Financial Performance Industry Outlook Technology Suzlon Strengths Detailed Financials 7
Slide 8: Q4 FY21 Financial Metrics
Q4 FY21 Financial Metrics (₹ Cr.) Q4 FY21 Q4 FY20 Particulars Unaudited Unaudited Net Volume (MW) 95 11 Net Revenue 1,120 643 Gross Profit 514 220 Gross Margin 45.9% 34.2% Employee Expenses 122 192 Other Expenses (net) 281 178 Exchange Loss / (Gain) -85 217 EBITDA 196 -367 EBITDA Margin 17.5% -57.0%
Slide 9: FY21 Financial Metrics
FY21 Financial Metrics (₹ Cr.) FY21 FY20 Particulars Audited Audited Net Volume (MW) 204 59 Net Revenue 3,295 2,933 Gross Profit 1,717 1,060 Gross Margin 52.1% 36.1% Employee Expenses 553 796 Other Expenses (net) 625 686 Exchange Loss / (Gain) 4 437 EBITDA 534 -860 EBITDA Margin 16.2% -29.3% Depreci
Slide 10: Wind Order Book (as at 31st Mar, 2021)
Wind Order Book (as at 31st Mar, 2021) Capacity Particulars Remarks (MW) Central Auctions 632.1 All orders are backed by signed PPAs. The order book comprises of orders from marquee customers State Auctions/PSU 71.4 such as Adani group and Enel Group. Captive/Retail 113.6 Wind Firm Order Book 817.1
Slide 11: Financial Performance, Industry Outlook, Technology, Suzlon Strengths
Financial Performance Industry Outlook Technology Suzlon Strengths Detailed Financials 11
Slide 12: Enhanced Government Focus
Enhanced Government Focus High Priority for Renewables and Wind Atmanirbhar Bharat Make in India 12
Slide 13: Renewables driven by Wind & Solar have begun to outstrip Thermal power installations
Renewables driven by Wind & Solar have begun to outstrip Thermal power installations Renewables (Wind and Solar) is already 2nd largest source of power Renewables helping the country to be ATMANIRBHAR in power supply As on 31st March 21 46.2, 6.78, • Renewables power sources ensure Power Security Al
Slide 14: Estimated Wind Installation forecast
Estimated Wind Installation forecast Indian Wind Market: Historical and Projected Commissioning Volumes COD Volumes in GW Transition Impact Low vol. 5-6 5.5 due to 4-5 COVID - 19 * 3-4 2-3 1.8 2.2 1.5 1.55 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22E FY23E FY24E FY25E *Comments: 1) Suzlon did commissioning
Slide 15: Key Industry Updates
Key Industry Updates National Electricity Policy revision draft under process GEDA (Gujarat) Wind Energy Policy draft under process MNRE issued OM mentioning that COVID-19 extension to be given for all projects scheduled after 1st Apr 2021 due to second wave. ISTS Charges Waiver extended til
Slide 16: Key Industry Updates
Key Industry Updates • Government’s notification of the Wind Park scheme. It will further encourage the deployment New Developments model of wind power projects going ahead. It will boost the confidence of investors leading to expected in FY22 increase in wind capacity addition. A record 93 GW of
Slide 17: Challenges
Challenges » Competitive bidding regime and reverse auction have led to low tariffs which in turn has squeezed OEM margins & IPP returns » Sharp increase in steel prices by 79.3% in last one year (From March’20- May’21) » Slow pace of power evacuation infra development » Supply chain issues due to g
Slide 18: Financial Performance, Industry Outlook, Technology, Suzlon Strengths
Financial Performance Industry Outlook Technology Suzlon Strengths Detailed Financials 18
Slide 19: Products Optimized for Market Demand
Products Optimized for Market Demand S111-140 S120-140 S133-140 2.1 MW 2.1 MW 2.6 MW- 3.0 MW (product series) Proto Status Date Proto Status Date Proto Commissioned Aug’17 S133-105 Commissioned Aug ’19 S120-105 Commissioned Jun ’18 S120-140 Commissioned Dec’18 S111-140 S120 S133 ~5-6% ~6-7% ~23-31%
Slide 20: Product Development
Product Development S133: New Product SB 63 – Won SKOCH award for Corporate Excellence S128 has already been listed in the RLMM list The testing is in progress for our next generation of blade – SB65 and wind turbine – S133 S133 Turbine Model – Applied for RLMM Listing S133 – 105 Multiple To
Slide 21: Financial Performance, Industry Outlook, Technology, Suzlon Strengths
Financial Performance Industry Outlook Technology Suzlon Strengths Detailed Financials 21
Slide 22: Suzlon's Strengths in Indian Wind Energy Market
Suzlon’s Strengths in Indian Wind Energy Market Full Turnkey Solution Pan India Presence Provider Technology Leadership Strong Customer Relationship Best In Class Service 25 Years Track Record Capabilities 22 End-to-end service provider with strong presence across value chain & customer segments
Slide 23: Operations and Maintenance Services (OMS)
Operations and Maintenance Services (OMS) 13.95 GW 9,472 >95% Under Service Wind Turbines Average Machine Globally Availability 23
Slide 24: Capabilities: OMS
Capabilities: OMS India fleet overview Largest fleet under Operation and Maintenance fold in India MWs under service (as on 31st Mar 2021) Complete comprehensive OMS including service & breakdown maintenance 100% of turbine sold by Suzlon within O&M fold 0.5 GW ~33% All India installed Wind Capacity
Slide 25: Financial Performance, Industry Outlook, Technology, Suzlon Strengths
Financial Performance Industry Outlook Technology Suzlon Strengths Detailed Financials 25
Slide 26: Consolidated Income Statement
Consolidated Income Statement (₹ Cr.) Q4 FY21 Q3 FY21 Q4 FY20 FY21 FY20 Particulars Unaudited Unaudited Unaudited Audited Audited Revenue from operations 1,120 938 643 3,295 2,933 Less: COGS 606 480 423 1,577 1,874 Gross Profit 514 457 220 1,717 1,060 Margin % 45.9% 48.8% 34.2% 52.1% 36.1% Employee
Slide 27: Financial Performance FY21 Consolidated Balance Sheet
Financial Performance FY21 Consolidated Balance Sheet Amount in Rs. Crs. Liabilities Mar-21 Mar-20 Assets Mar-21 Mar-20 Shareholders' Fund -3,343 -10,983 Non Current Assets Non controlling interest -58 -59 Property, plant and equipment 804 905 -3,401 -11,042 Right-of-use assets 131 143 Non-Current L
Slide 28: Thank You!
I h an k Yo u e POWERING A GREENER TOMORROW