Suzlon FY09 consolidated revenue up 91%

Wind energy major, Suzlon group's consolidated revenue expanded 91 per cent at Rs 26,082 crore in FY09 as against Rs 13,679 crore in FY08.

Its consolidated net profit after share in associates profit and minority interest, however, dipped to Rs 236.48 crore in FY09 as against Rs 1,030.10 crore.

As on June 25, its order book stood at Rs 7,901 crore (1,463 Mw).

"Despite a challenging year, we have registered a strong topline growth in FY09 with sales growing to Rs 26,082 crore. With the changing environment, we have focused on consolidating our business," Suzlon Energy's Chief Operating Officer (COO) Sumant Sinha told reporters here today.

For Q4FY09, it posted a consolidated net profit of Rs 409.80 crore as against Rs 456.51 crore in the year-ago period.

The net profit after share in associates profit and minority interest stood at Rs 314.89 crore in FY09 as against Rs 464.82 crore in the year-ago period.

"India constituted 20 per cent of revenue in FY09. The US accounted for 40 per cent, While India is an important market, what is happening in the rest of the world is quite critical to us," Sinha said.

While the first-half of this fiscal presents a gloomy picture, he said adding it expects sales to go over 65 per cent in the second-half of FY10.

Sinha said the company is considering selling some or all of its stake in Belgium-based Hansen Transmissions, in which it holds a 61.28 per cent stake.

"We are in the early stages of considering the sale of some or all of our stake in Hansen. I cannot say more," he added, while skirting a question on whether Spanish firm Gamesa is in talks with Suzlon for buying stake.

Suzlon, which currently holds close to 91 per cent stake in Hamburg-based REpower Systems AG, "intends to move forward", Sinha said.

"We are examining possible options either of signing a domination agreement or a squeeze-off, wherein we have to raise our stake to 95 per cent," he said.

Suzlon completed the acquisition of REpower on June 6.

Company's Chairman Tulsi Tanti and family sold 4 per cent of Suzlon's stake in May to raise money for buying 22 per cent stake in REpower from Portugals Martifer SGPS SA.