Volumes in India’s solar sector plunged by 70% during first nine months this fiscal owing to policy changes, but Suzlon has retained market leadership and is poised to bounce back as a vertically-integrated player, said group chief executive JP Chalasani.
During the plunge in the market, the company worked on significant fixed cost reductions and now hopes to gain significantly once the market reaches 6GW for executions next fiscal from a low of 1.5GW this fiscal, he said. “Even when volumes dipped, we made positive Ebidta (earnings before interest, depreciation, taxation and amortisation) and met all our financial obligations.”
For the nine-month period ended December 2017, Suzlon suffered a steep fall in net profit at Rs 85.84 crore, down from Rs 262.89 crore a year ago, on a lowered income of Rs 6,153 crore (Rs 7,779 crore). “The company, from an internal perspective, is quite stable and has come out of all the problems. We have been bringing out best products, technology wise. We are doing quite well on the R&D side with new products coming out regularly,” said Chalasani. Read More…
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