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  • FOREIGN FUNDS NET SELL RS.463.89 CR IN EQUITIES ON NOVEMBER 20 (PROV)
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  • NET PROFIT AT RS.48.2 CR VS RS.12 CR; SALES UP 55% AT RS.849 CR (YOY)
Updated: 15/06/2009 | 12:00 AM IST
Suzlon Energy in demand
Capital Market
Monday, June 15, 2009 (New Delhi)
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Meanwhile, the BSE Sensex was down 4.40 points, or 0.03%, 15,233.54.

On BSE, 61.97 lakh shares were traded in the counter. The stock had an average daily volume of 1.71 crore shares in the past one quarter.

The stock hit a high of Rs 124.40 and a low of Rs 117 so far during the day. The stock hit a 52- week high of Rs 267.90 on 12 June 2008 and a 52-week low of Rs 33.05 on 12 March 2009.

The large-cap stock had outperformed the market over the past one month till 12 June 2009, gaining 47.12% as compared to the Sensex's return of 25.33%. It had also outperformed the market in the past one quarter, spurting 257.21% as compared to the Sensex's return of 82.63%.

The company's current equity is Rs 299.66 crore. Face value per share is Rs 2.

AE-Rotor Holding B.V., a company directly controlled by Suzlon holds 61.28% in Hansen Transmissions. The stake is worth around $960 million, reports suggest.

Early this month, Suzlon made the final payment of Euro 87.6 million (Rs 600 crore) for buying Martifer's remaining stake in Germany's REpower Systems. This follows payments of the first tranche of 65 million euros in December 2008 and the second tranche of 30 million euros in April 2009.

Suzlon now has 90.72% in REpower, and is close to exercising its option to transfer REpower's technology to emerging markets such as India and China, where Suzlon plans to increase its presence.

Suzlon's step down unit Suzlon Wind Energy Corporation of United States on 1 April 2009 secured an order from Duke Energy of North Carolina to provide 20 units of S88-2.1 megawatt (MW) wind turbine generators. The order is to be executed in July 2009. The financial details were not disclosed.

Suzlon's step down unit Suzlon Energy Australia had on 31 March 2009 bagged an order from AGL Energy for supply of 63 wind turbine generators translating to 132.30 megawatt (MW) of capacities. The financial details were not disclosed.

Suzlon Energy reported a net loss of Rs 390.93 crore in Q3 December 2008 as against a net profit of Rs 338.18 crore in Q3 December 2007. Sales fell 9.3% to Rs 1501.67 crore in Q3 December 2008 over Q3 December 2007.

Suzlon's earnings were hurt by forex losses and charges on quality issues. The company spent Rs 233 crore in the quarter on replacing and fixing faulty blades compared with Rs 18.74 crore a year earlier. The mark-to-market loss on foreign exchange contracts was Rs 124 crore for the group.

Suzlon Energy provides customers with total wind power solutions.

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