SUZLON: 18/06/2023
No of share diluted basis: 1260 cr DEBT : net debt 1200 cr
Some key takeaways from the management meet on 16/06/2023
10 gw total opportunity each year, 2.5 from SECI, NTPC,NHPC,SJVN each……plus private sector opportunity.
3 plus mw turbines which are currently 30 % sales will go to 70 percent from FY25.
Technician to turbine ratio is currently 1:4.
700 cash , gross debt 1900 cr and net debt 1200 cr.
After all ocds, cpps and all restructuring our equity will be max 1260 cr nos of shares.
Fixed cost is almost 500 cr and break even is 600 mw.
There is no problem in land availability and potential land available is for 700gw. Requirement is only 2.5 acre per installation at 3 plus mw turbine.
For Suzlon margin remains same even if we sell 3 plus mw of turbine. However for the buyer the advantage is more.
Topline is 5.5 to 7 cr per MW. 15 % is contribution margin, 10 lakhs plus o&m charge per mw, per year.
While storage of electricity can be a risk to the longevity of business but currently its 5 rs per unit in case of pumps and 7/8 rs per unit in battery.
We import 20 to 30 percent RM.
Competitors currently are
Big guys: gamesa siemens and envision ( Chinese guy ) with 2000 mw of order book each
Medium: Inox etc.
As we move towards 3.2 GW turbines capacity will automatically become 4500MW from current capacity.
Almost 60 % of order book shall be executed in fy 24 I,e 900 mw
Disclosure: Invested
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