Domestic renewable energy project developer Suzlon has declared its annual financial results for the financial year (FY) of 2018.  It also announced that it commissioned 626 MW of wind power projects –  the highest installations by any wind OEM during the fiscal year.

Overall, Suzlon’s revenue for FY 2018 stands at ₹82.92 billion (~$1.23 billion) while the company’s EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) is ₹11.49 billion (~$0.17 billion). Suzlon’s EBITDA margin for the year stands at 13.9 percent, the company stated in its media release.

The company also announced that it has registered a net loss of ₹3.84 billion (~$0.057 billion) for FY 2018. The consolidated net term debt (excluding FCCB) of Suzlon stood at ₹60.37 billion (~$0.89 billion) while its working capital debt has been valued at ₹38.89 billion (~$0.58 billion).

Along with the annual financial performance for FY18, Suzlon declared its fourth quarter results for the year 2017-18. Its revenue for Q4 stands at ₹22.36 billion (~$0.33 billion) and EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) is ₹3.19 billion (~$0.047 billion) for the Q4 of FY18.

Earlier, Mercom reported on Suzlon’s commissioning of 340 MW of solar photovoltaic (PV) projects  in Telangana (210 MW), Rajasthan (60 MW), and Maharashtra (70 MW) with the help of a combination of joint ventures and the formation of Special Purpose Vehicles (SPVs) with various partners.

In February 2018, it secured a repeat order of a 96.6 MW project from renewable energy project developer ReNew Power for the development of a wind project in the state of Karnataka.

According to Mercom’s India Solar Project Tracker, Suzlon Group has over 340 MW of solar projects in the country.

Nitin is a staff reporter at Mercomindia.com and writes on renewable energy and related sectors. Prior to Mercom, Nitin has worked for CNN IBN, India News, Agricultural Spectrum and Bureaucracy Today. He received his bachelor’s degree in Journalism & Communication from Manipal Institute of Communication at Manipal University and Master’s degree in International Relations from Jindal School of International Affairs. More articles from Nitin Kabeer