Improved earnings for Suzlon
Indian company has EDITDA of $49.6m in 2015 financial year
Indian turbine manufacturer Suzlon achieved EBITDA of Inr316 crore ($49.6m) in the 2015 financial year, compared with a negative of Inr141 crore in 2014.
Consolidated revenues in FY 2015 stood at Inr19,837, with an order book of approximately 1.12GW worth about Inr6886 crore.
Suzlon group head of finance Kirti Vagadia said: “Our results for FY15 were largely impacted by working capital challenges, which have now been addressed.
“Our business operations are now adequately funded with requisite working capital facilities to ramp up volumes.
“Our profitability and operating efficiency are enhanced as reflected by the increased EBITDA and improved net working capital ratios. The reduced leverage will lower the interest expense and principal repayment, providing more headroom to focus on business and order execution.”
Suzlon chairman Tulsi Tanti said: “In FY16, our key priorities are to ramp- up volumes, improve profitability, strengthen customer centric approach and enhance our market share.”