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Tuesday, March 2, 2010

SUZLON ENERGY Q3 FY2009-10 RESULT INSIGHTS

NET DEBT REDUCTION- Q3 FY 10
-Consolidated net debt as on 31st March 2009 - Rs. 11800 cr.
-Consolidated net debt as on 31st December 2009 - Rs. 10488 cr.
-Net consolidated debt reduced by Rs. 1312 cr.
-Profit from the Sale of 35.22% OF HANSEN TRANSMISSION Rs. 252 cr.
-GROSS REDUCTION OF DEBT BY APPROX. 15% OR USD 350 MILLION.
-Acquition loan of USD 780 million PAID-OFF.
-HANSEN STAKE NOW AT 26.06%. (174632079 voting rights)
-REpower Systems AG stake now at 90.71%.

SALES FIGURES- Q3 FY 10
-India contributed 140 Mw v/s 168 Mw in Q3 FY 2008-09.
-Internationally, volumes were 264 Mw v/s 511 Mw in Q3 FY 2008-09.
-Total Mw Sales (Suzlon Wind) - 404 Mw v/s 679 Mw.

ORDER BOOK – Q3FY 10
-As on 30th January 2010 – 1484 Mw.
-Order book value as on 30th January 2010 – Rs. 8128 cr.
-Average realisation of Order Book -
INDIA – Rs. 5.43 cr/Mw.
INTERNATIONAL – Rs. 5.49 cr/Mw.

REVENUE - Q3 FY 10
-Suzlon Wind Business Revenue – Rs. 2453 cr.
-Consolidated Revenue – Rs. 5590 cr.
-Income from operation & maintance activities-
India – Rs. 196 cr
International – Rs. 83 cr.
-Karnataka wind energy tariff Rs. 3.70/Kwh from Rs. 3.40.
-Gujarat wind energy tariff Rs. 3.56/Kwh from Rs. 3.50/Kwh.
-Global Market Share – Suzlon – 9%; RE power - 3.3%; GE wind – 18.6%; Vestas – 19.8%; Siemens – 6.9% as on 31st December 2008.

OTHER FINANCIAL DETAILS -
-Net operating working capital as on 31st December 2009 – Rs. 5179 cr.
-Absolute reduction of working capital of Rs. 974 cr from March 2009 levels.
-Acquition Loans – Rs. 2159 cr.
-FCCBs – Rs. 2229 cr.
-Capex Loans – Rs. 1077 cr.
-Working Capital & Other Loans – Rs. 5009 cr.
-Gross External Debt – Rs. 10474 cr
-Loans from Promoter group – Rs.1175 cr.
-Cash Holdings – Rs.1041 cr.
-NET DEBT – Rs. 10608 cr.
-NET EXTERNAL DEBT – Rs.9433 cr.
-Gross Profit/Mw - 9m FY 2009-10 – Rs. 2.03 cr v/s Rs. 2.07 cr in 9m FY 08-09.

DEBT MANAGEMENT EXERCISE –
- DEBT REDUCTION –
- Monetized 35.22 % stake in Hansen Transmission, realized GBP 224 millions through placement of 236 million Depository interest at a price of 95 pence per depository interest, proceeds used to repay part of acquisition loans.
- Refinancing of loans in Rupee-denomination from SBI.
- Holiday of 2 years in principal payments done.
- Issue of GDRs for USD 108 million (Q2 FY 2009-10)
- Cash infusion of USD 94 million through additional Convertible Bonds issue (Q2 FY 2009-10)

CAPACITY & EXPANSION PLANS –

SUZLON (GDR- SUEL:LI Suzlon Energy Ltd)
CURRENT CAPACITY- 4200 Mw
EXPANSION PLANNED- 1500 Mw
TOTAL POST EXPANSION- 5700 Mw

RE POWER SYSTEMS AG - RPW:GR
CURRENT CAPACITY- 1250 Mw
EXPANSION PLANNED- 450 Mw
TOTAL POST EXPANSION- 1700 Mw

HANSEN Transmissions International NV - HSN:LN
CURRENT CAPACITY- 7300 Mw (Gearbox)
EXPANSION PLANNED- 8000 Mw (Gearbox)
TOTAL POST EXPANSION- 14300 Mw (Gearbox)

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