Suzlon Energy gains after securing contracts

Suzlon Energy rose 3.54% to Rs 9.65 at 10:41 IST on BSE after the company said its wholly owned subsidiary has secured two wind turbine contracts totaling 40 megawatts from GDF-SUEZ Futures Energies.

The announcement was made during trading hours today, 19 December 2013.

Meanwhile, the S&P BSE Sensex was down 137.77 points or 0.66% at 20,722.09.

On BSE, so far 7.54 lakh shares were traded in the counter as against average daily volume of 21.50 lakh shares in the past one quarter.

The stock hit a high of Rs 9.70 and a low of Rs 9.36 so far during the day. The stock hit a 52-week high of Rs 26.90 on 6 February 2013. The stock hit a record low of Rs 5.72 on 28 August 2013.

The stock had underperformed the market over the past one month till 18 December 2013, declining 7.36% compared with the Sensex's 0.04% rise. The scrip had, however, outperformed the market in past one quarter, jumping 42.51% as against Sensex's 4.5% rise.

The small-cap company has equity capital of Rs 483.41 crore. Face value per share is Rs 2.

REpower Systems SE, a wholly owned subsidiary of Suzlon Energy has concluded with GDF-SUEZ Futures Energies two contracts, totaling 40 megawatts (MW), for the supply of twenty wind turbines MM92 and MM82 types with a nominal output of 2.05 MW each. REpower will provide with the full maintenance of these two wind farms for a minimum of five years.

Speaking on the order, Pierre Parvex, Director of the Renewable Energy Division - GDF SUEZ Energies France said, "These contracts are the results of many fruitful exchanges between both our companies, and illustrate well the confident relationship built with REpower since 2005. The commissioning of the wind farms of Hangset sursomme and Somme Soude is perfectly in line with our development strategy in wind energy. Today, GDF SUEZ operates over 1,200 MW of wind energy, and is the first wind operator in France".

Olivier Perot, MD, REpower SAS said, "These two contracts with GDF SUEZ Futures Energies consolidate the partnership established between our respective companies, and we are glad GDF-SUEZ Futures Energies has confirming its confidence in REpower. With over 1,500 MW installed in France, we are proud to contribute to the development of French wind energy, particularly in Picardie and Champagne-Ardenne regions where REpower has a strong footprint".

REpower Systems SE, a wholly-owned subsidiary within the Suzlon group, is one of the world's leading manufacturers of onshore and offshore wind turbines. The international mechanical engineering company develops, produces and markets wind turbines for almost any location - with rated outputs of 1.8 MW to 6.15 MW and rotor diameters of 82 metres to 152 metres.

Suzlon Energy reported a consolidated net loss of Rs 782.37 crore in Q2 September 2013, lower than net loss of Rs 807.74 crore in Q2 September 2012. Net sales declined 16.4% to Rs 4769.35 crore in Q2 September 2013 over Q2 September 2012.

The Suzlon Group is ranked as the world's fifth largest wind turbine supplier, in terms of cumulative installed capacity and marketshare, at the end of 2012. The company's global spread extends across Asia, Australia, Europe, Africa and North and South America with over 22,500 MW of wind energy capacity installed, operations across over 30 countries.

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