Capex plan for 2nd half of FY09 Rs 970 crore: Suzlon

Suzlon Energy has announced its Q2FY09 numbers. Its Q2 standalone net profit stood at Rs 16.98 crore as against Rs 355 crore.

The company's standalone revenues stood at Rs 2,226.25 crore versus Rs 1,687.46 crore.

Suzlon Energy has reported (excluding Hansen and REpower) consolidated net loss of Rs 130.5 crore versus Rs 374.80 crore. Its revenues went up at Rs 4,181 crore versus Rs 3,137 .45 crore.

Key takeaways from Suzlon Energy's Press release:

Order book at Rs 14052 crore.
Capex plan for 2nd half of FY09 is Rs 970 crore.
Its MTM loss on Zero coupon bonds and forward contracts stood at Rs 230 crore versus gain of Rs 26 crore.
MTM is notional as it is due to rupee depreciation, so adjusted for the same; net profit stood at Rs 66.72 crore versus Rs 348 crore.
Its total income Rs 2264.66 crore versus Rs 1718.73 crore on YoY basis.
Its debt is of Rs 1200 crore.
65% - 70% is forex loan which is at libor + 400 bps
Rest is rupee loan which is at 12%.
Have Rs 400 crore equity part already from IDFC PE.
No cancellations till now post edison.
Have completed root cause analysis; V3 turbines working well.
Debt: suzlon level 8900 crore & group level 8400 crore.
Working capital: flat.
Quiet a few discussions on; order book robust – near future strong.
Debt costs gone up; working capital and forex gone up
India and German rules – German rule: cannot consolidate till we get domination; cannot do selective consolidation – so left out both Hansen and repower
236 MW in India
1200 MW US
500 MW China
184 MW Australia
357 MW Europe and rest of world
India 236 MW; total at 2500 MW
Stiffness not right; had to add one more layer to make it durable.
Retrofit programme - 90% to be completed by March.
1500 mw in h2 and 1000 mw in FY10.