Suzlon Energy shares snap 4-day losing run, soar 12% today

Suzlon Energy shares rallied 12 per cent in Monday's trade, snapping a four-day losing streak. The scrip, which had fallen 23 per cent in the four sessions to sub-Rs 9 level, jumped 11.11 per cent to hit the double digit mark of Rs 10 a piece. The scrip has seen a dozen of bulk deals this month.

Suzlon Energy is a market leader in the wind energy. It has close to 19,500 megawatts of installed wind energy capacity and has presence in 17 countries. Its market share in India on a cumulative basis stood at 33 per cent, the company management said in its recent earnings call.

Suzlon Energy reported a consolidated revenue of Rs 2,933 crore FY20, which rose more than 2.5 times to about Rs 6,520 in FY22. In the first half of FY23, the company has reported growth of 15-20 per cent over H1FY22.

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On the Ebitda side, the company had negative Ebitda company in FY20. It has been able to deliver positive Ebitda of Rs 828 crores in FY 22. This year, in first half of this year, it is trending along the similar lines of the previous year, the management said.

On the debt side, the company had been through a few cycles of restructuring with its lenders, due to the large debt pile up that had accumulated in FY19 and FY20. The company suggested that its debt has been significantly reduced from Rs 13,000 crore to Rs 2,700 crore in H1 of FY23.

Post the recent rights issuance, close to Rs 600 crore of debt was reduced further, as of November 4.  The company's debt post the rights issue stood at Rs 2,139 crore.

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