Dismal Q2 numbers weigh on Suzlon

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ALERT: ROAMING CONTRIBUTES 15% OF BHARTI REVENUES
ROAMING CALLS ON OTHER NETWORKS AT 80 PAISE/MINUTE
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COMPLETES SWAP OF $875MN FOREX CONVERTIBLE BONDS

Updated: 03/11/2009 | 12:00 AM IST

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Capital Market

Tuesday, November 03, 2009 (New Delhi)

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The result was announced on Saturday, 31 October 2009.

Meanwhile, the BSE Sensex was down 6.52 points, or 0.04%, to 15889.76.

On BSE, 72.55 lakh shares were traded in the counter as against an average daily volume of 1.21 crore shares in the past one quarter.

The stock hit a high of Rs 65 and a low of Rs 59.55 so far during the day. The stock had hit a 52-week high of Rs 145.85 on 5 June 2009 and a 52-week low of Rs 33.05 on 12 March 2009.

The stock had underperformed the market over the past one month till 30 October 2009, falling 27% as compared to the Sensex 7.18% fall. It underperformed the market in past one quarter, tumbling 32.56% as against 3.30% rise in the Sensex.

India's largest wind turbine maker by sales has an equity capital of Rs 311.34 crore. Face value per share is Rs 2.

Sales fell 72.3% to Rs 616.02 crore in Q2 September 2009 over Q2 September 2008.

On a consolidated basis, the net loss was reported at Rs 355.52 crore in Q2 September 2009 compared with a net loss of Rs 22.84 crore in Q2 September 2008. Total income declined 30.85% to Rs 4855.47 crore in Q2 September 2009 over Q2 September 2008.

Suzlon's profit were hurt as the company got fewer orders this year because major economies are struggling with last year's financial crisis. Suzlon said its orderbook stood at 1,488 megawatts (MW), with 1,365 MW in international orders and 123 MW in domestic orders.

Suzlon lost sales last year after some blades cracked and customers in the US canceled orders. Repairs were completed in September 2009 after spending about $100 million, the company had said on 13 October 2009.

For the current fiscal year that end on March 2010, the company revised its full year guidance to a range of 1,900 MW to 2,100 megawatts.

During Q2 September 2009, Suzlon completed and commissioned a 19.5 MW wind farm project for the Gujarat Mineral Development Corporation (GMDC) in Rajkot, Gujarat. The project comprises 13 units of Suzlon's 1.5 MW wind turbines and was commissioned in record time, it said.

Promoters have pledged 35.76 crore crore shares representing 53.07% of the equity capital of the company. Total promoters shareholding in the company is 22.97% (as on September 2009).

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