![]() Suzlon also said towards June-end that it is in advanced stage to raise USD 300 million from its senior secured lenders and its bond holders approved extension of repayment date of USD 360 million to July 27. Get the latest Suzlon Energy Ltd (SUZLON) real-time quote, historical performance, charts, and other financial information to help you make more informed trading and investment decisions. Last month it agreed to sell a stake in its China manufacturing unit to China Power New Energy Development Co for around Rs 340 crore. However, it has loan repayments of around Rs 3,700 crore due in the current financial year, including FCCB payments.ĭebt-laden Suzlon sold its 26% stake in Hansen in 2011. Brokerage Kotak Institutional Equities expects Asian Paints’ outperformance in growth vs peers to continue even as the gap narrows. But for that it will need to raise more funds. The paint maker’s consolidated net sales for the quarter are seen rising 25 year-on-year (YoY) to Rs 8,880 crore, according to the average of estimates given by five brokerages. But now its shares are at over 70% discount to the conversion price of FCCBs, so it has no choice but to repay the bond holders. Suzlon had raised funds via FCCBs to acquire REpower. However, it is now facing a bigger issue of huge debt of over Rs 11,000 crore and repayment of FCCBs even as there has been a slowdown in demand, especially in US and Europe and delay in payments by some customers amid the global economic downturn. The company has managed to put that issue behind its back. Suzlon’s 19,441+ MW wind energy Installations are equivalent to: 4.15 Billion trees absorbing CO2 per year 8.31 Million cars taken off the road 12.64 Million households powered 37.80 Million tonnes of coal saved 49. The comprehensive retrofit programme cost Suzlon over USD 100 million. This became a major embarrassment for Suzlon, which had to rectify the manufacturing defect and compensate customers for cracked blades. A customer Edison International complained that windmill blades it had bought from Suzlon had begun to split at some sites. In its efforts to scale up, it acquired Belgium-based Hansen Transmissions International in 2006 and Germany’s REpower Systems in 2007 among other companies.īut cracks began to appear in 2008. Suzlon was built from scratch by Tanti and by 2008, the company was the world’s fifth wind turbine maker. Add to that slowdown in demand amid the overall global economic crisis has made matters worse. But despite being among the world’s top wind turbine makers, today it is bogged down under mountains of debt and uncertainties if it will be able to honor its FCCB (foreign currency convertible bonds) holders. Read breaking stories and opinion on suzlon at. ![]() It was once the darling among new renewable energy companies. Read breaking stories and opinion on suzlon at. For the year ended March 31, Suzlon incurred a net loss of Rs 479 crore. Suzlon Energy’s promoter and Chairman Tulsi Tanti took pay cut of Rs 1.46 crore last year as the company grappled with losses, according to the wind turbine maker’s annual report. ![]() has a superb article on why Suzlon, which was a promising star in the horizon, is now on the verge of bankrupcy ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |