Key Points
The company recently became net-worth positive after a decade and decreased its net debt by 80% YoY to INR1,180 crore in the fiscal year 2022-23..
The firm has a big order book and offers a wide range of wind turbines from 225 kW to the recently-launched 3 MW-S414 series.Agencies..
Riding high on the back of turnaround in its FY23 balance sheet, shares of green energy company Suzlon Energy have zoomed around 80% in the last one month with bulls betting that strong order book and industry tailwinds could help the rally last longer...
Suzlon has become the first Indian wind energy company to reach 20 GW of worldwide wind energy installation and has a 33% cumulative wind energy market share in India.. "To tackle the strong demand, Suzlon is well equipped with a strong product suite and a much improved balance sheet now compared with FY20, due to the recent debt deleveraging exercises by the firm..
The company has been through a few cycles of restructuring with its lenders due to the large debt pile up that had accumulated but the net debt has now significantly reduced due to refinancing and the successful rights issue," Emkay Global said.. Suzlon technical outlook..
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