Saturday, 11 February 2017

Suzlon: The Wind is started Flowing…

Suzlon, Pune base Wind energy Turbine manufacture  and operate in 19 countries across the globe with around 22 years of presence in the renewable energy sector
Due to high debt and less demand in global market company lost its way after 2008 crisis but now it seems it is coming back to get it title back in Renewable energy sector.
In last couple of months there is many things happen in Suzlon.  Here we have mentioned few event which happened which made noise in Suzlon:
  • On 17 January 2017 – Suzlon Energy achieved 10,000 megawatts installed wind energy milestone in India. Suzlon’s 10,000 MW of wind installation is capable of powering over 5 million households per annum.
  • On day of Vibrant Gujarat Summit Mr Tulsi Tanti, MD of Suzlon Said that Suzlon Energy plans to add 1,500 megawatt of power capacity. Out of this 1,500 megawatt, 500 megawatt will be wind and solar, the hybrid solution in next 3 years. The current debt of the company is around 7,000-8,000 crore and the payment of debt is going, according to the schedule. Tanti added that company is in the final stages of discussion with the banks from exiting the corporate debt restructuring (CDR) and hoped to exit from CDR this financial.
  • Company Secured 8 MW wind power project in AP.
  • Company Secured 105 MW from Axis Energy Group.
  • Company Secured maiden order  of 50 MW from Oil India.
  • Suzlon bags 63-MW wind power order from THDCI.
  • Rating Agency CARE assigned A rating to Suzlon. The rating has been assigned for its proposed long term and short term bank facilities. CARE ‘A’ ratings are considered to have adequate degree of safety regarding timely servicing of financial obligations, carrying low credit risk,”
  • Outstanding Q3 results of 274 cr.
Suzlon is big beneficially of interest rate cut which help the company in lowing interest on its debt.  In last year company has delivered better result and significantly reduces it debt. Few thing that don’t work for company is that we find is that company has promoter holding is very low to around 20 percent only. But we have  to look out for this result as many thing get clear and future path of company will be decide.
Currently Suzlon is trading at 17.10 INR on 10th Feb 17 on BSE with market cap of 8k Cr. With long term view one can enter in Suzlon.
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