Stockrabit · Analysts
Questions across 2 calls

Himanshu Mody

Firm not listed in source transcripts

Suzlon Energy Limited

Suzlon Energy Limited CC-Mar25.pdf · 2025-05-29
Yes. So Sumit, on the margin for the WTG bus ines s , as we m e ntioned, we registered about 23.6% contribution margin. So I would say going forward for FY '26, we would -- we should be able to maintain a 23% margin on a contribution basis for the W TG division. And in terms of deliveries. As I mentioned earlier on that we are confident that we'd be able to achieve approximately 60% growth year-on-year across parameters. So I think which is in l ine with most estimates. So I think we stand by that for deliveries.
So, but we mentioned we're looking at about 60% growth across the parameters. So be it RR, as we call it, our deliveries, our revenue, EBITDA, normalized PAT , of course, not taking into account one-off DDA, across all these parameters, we are confident of a 60% growth in '26, over '25.
Suzlon Energy Limited CC-Dec24.pdf · 2025-01-28
So, Mohit, it is essentially, if you look at any period, there are a certain one-off items that hit the P&L, whether it is relating to insurance services or the insura nce claims or the VAP and VAS services that causes this fluctuation, but we are clearly going forward as we have always maintained that the O&M margins at an EBITDA level will be abou t 40% and we continue to maintain that guidance going forward. There may be aberrations quarter-to-quarter due to, as I said, insurance claim income and the VAP, VAS sales.
So, depreciation, Sumit, will be a recurring item because with the increased CAPEX as JPC sir mentioned with Pondicherry for the additional Nacelle facility getting mobilized and our additional moulds for the S144 getting commissioned, the increased CAPEX is of course hitting the P&L from a depreciation perspective. So, you should certainly assume that the depreciation of about Rs. 60-Rs. 65 crores a quarter would continue as a nor mal standard. So, one-off expenses in employee, of course would largely pertain to ESOP charge. Now, the ESOP charges for Q4 would be the similar as you have seen for Q3. As we step into the next financial year, difficult to say, but as of now it looks like that the ESOP charge on account of employee expenses as a one-off would reduce for the full year in FY26 as compared to FY25.