Back in the black, Suzlon eyes 40% market share this year

Wind turbine maker Suzlon, which returned to profitability after badly bleeding for almost seven years, is eyeing a 40 per cent market share this year, up from 26 per cent last year.
"Even as the wind sector may seem challenging now, the government's target of achieving 60 GW of wind power by 2022 is an opportunity for a company like us, which has vast experience and capabilities in execution and new products to meet the demand for higher capacities," Suzlon chairman and managing director Tulsi R Tanti told PTI.
"With our continued focus on execution, we are hopeful that we will be able to achieve 40 per cent market share against 26 per cent last fiscal when the total installed capacity stood at 3,415 mw," he said.

He said the market is likely to grow at a CAGR of around 20-25 per cent over the next five years while Suzlon hopes to continue to grow at much higher rate than the industry.
"We have already managed to bounce back into the black after almost seven years of losses, which gives us the confidence of exceeding the market growth," Tanti said.
Suzlon group chief financial office Kirti Vagadia said the wind market is expected to grow at around 30 per cent this fiscal to over 4,400 mw, compared to 3,415 mw in 2015-16.

Suzlon, which is the fifth largest player globally, has so far installed 15,550 mw or 15.5 GW across the globe, while its installed capacity in the country is 9,500 mw.

Vagadia said the Pune-based company's focus last year was on increasing cash flows and profitability, apart from significantly reducing net working capital, optimising debt maturity profile and maintaining strong liquidity.
The company bagged 1,251 mw of new orders during 2015-16
from various sectors and expects more orders to come from the domestic market this fiscal. Its total order book as of end March stood at 1243 mw or Rs 7,989 crore.
"Our focus will continue to be on domestic market and we are expecting more orders to come from the international markets where the demand for renewables is growing with a record 64 GW installation and an investment of USD 329 billion in 2015. International work will be completed by 2017-18 while domestic orders will be executed this year itself," he said.

He said Suzlon will continue to introduce new products and enhance technology to cater to the growing demand.
"We introduced S111-120 meter hybrid tower prototype turbine and it has a good demand. Also, we've embarked on a plan to set up rotor blade factories near the wind projects in Rajasthan, MP and Andhra," he added.