Suzlon delivers 205 MW volume in 1QFY16

With 15.3% EBITDA margin.

Suzlon Group, India’s leading wind turbine manufacturer recently announced its results for the first quarter (Q1) of financial year 2015-16 (FY16).

According to a release from Suzlon, it delivered 205 MW volume with 15.3 % EBITDA margin.

Mr. Tulsi Tanti, Chairman, Suzlon Group said: “Our Q1 performance reflects our turnaround journey. Our strategic vision incorporates the government’s renewable energy target of 175 GW by 2022 and the conducive policy landscape."

Here's more from Suzlon:

"With our technology pedigree, comprehensive product portfolio and over 14GW of global installations, we are well positioned to seize the market opportunities in India and other core markets.

We introduced the next generation turbine, the S111 - 2.1 MW for the Indian market that is specially designed for low wind sites generating 20% higher energy compared to S97. This year, we expect to supply 100 turbines of the S111. Our pan-India presence and 1700 customers across all segments give us the competitive advantage to enhance our market share.”

Mr. Kirti Vagadia, Group Head of Finance, Suzlon Group said, “We demonstrated strong operational performance after addressing our liquidity challenges and delivered strong EBIDTA margin of 15.3% on 205 MW in the first quarter. Q1 witnessed significant reduction in debt and interest costs. Our key priority is to execute strong order book of 1107 MW and maintain momentum in the order intake.”