The result was announced after trading hours on Thursday, 30 May 2013.
Meanwhile, the S&P BSE Sensex was down 254.72 points, or 1.26%, to 19,960.68.
On BSE, 11.96 lakh shares were traded in the counter as against an average daily volume of 33.11 lakh shares in the past one quarter.
The stock hit a low of Rs 12.32 so far during the day, which is also a record low for the counter. The stock hit a high of Rs 12.94 so far during the day. The stock had hit a 52-week high of Rs 26.90 on 6 February 2013.
The stock had underperformed the market over the past one month till 28 May 2013, falling 10.50% compared with the Sensex's 4.53% rise. The scrip had also underperformed the market in past one quarter, sliding 18.75% as against Sensex's 6.89% rise.
The small-cap wind turbines maker has an equity capital of Rs 418.32 crore. Face value per share is Rs 2.
Suzlon Energy's net sales fell 36.1% to Rs 4280.53 crore in Q4 March 2013 over Q4 March 2012.
Net loss was reported at Rs 4723.96 crore in the year ended March 2013 (FY 2013), higher than net loss of Rs 478.58 crore in the year ended March 2012 (FY 2012). Net sales fell 11.1% to Rs 18743.14 crore in FY 2013 over FY 2012.
The company said that the FY 2013 financial result was impacted by non-routine costs, including foreign exchange losses, asset impairments, tax credit reversal et al, totaling approximately Rs 1100 crore.
The company said that performance at the Suzlon Wind level was significantly impacted by the internal focus on liability management; as well as by domestic market shrinking by nearly 50% due to removal of key policies - Accelerated Depreciation (AD) and Generation Based Incentives (GBI) - limited Suzlon Wind volumes to 251 megawatts (MW), and added non-routine costs. The GBI policy has been reinstated in FY 2013-2014 Union budget.
REpower continued to outperform the industry achieving 35% compounded annual growth rate (CAGR) FY 2011 - FY 2013, and posting revenues of 2.22 billion euros for FY 2013 against 1.67 billion euros for FY 2012. The company crossed 1 gigawatts (GW) in installations in both the US and UK, and maintained the group's position as the second leading offshore supplier in 2012.
The consolidated group orderbook stood at 5.9 GW, approximately Rs 42094 crore in value, with an intake of 836 MW in Q4 March 2013, and ~3.5 GW over the full fiscal year. Execution delays led cancellations of orders in Q4 March 2013 of approximately 195 MW, including an order by Coromandel Wind Energy for 75.6 MW and Servtec (Brazil) for 24 MW.
In terms of outlook, Suzlon Energy said that the group's priorities for the fiscal year ending March 2014 (FY 2014) will continue to remain focused around four key pillars - transitioning to a more asset-light / debt-light model by optimizing our asset base; monetizing non-critical assets with a target of raising up to $400 million over FY 2014; maintaining our working capital at 20%; and, further optimizing our cash cycle. A key focus for the company remains continuously improving business efficiency at every level. The company said it continues to work towards lowering break even by improving the contribution margin, further right-sizing and reducing fixed opex, and optimizing manufacturing through 'make vs. buy' analysis.
Meanwhile the company's board approved a resolution for issuance of equity or other equity linked instruments to an extent of Rs 5000 crore, subject to the approval of shareholders. This is an enabling resolution to facilitate the company to raise funds at an appropriate time, if required.
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 approximately 22,000 MW of wind energy capacity installed and operations across 32 countries. Suzlon Group has an installed base of approximately 8,000 MW in India. The Group - headquartered at Suzlon One Earth in Pune, India - comprises Suzlon Energy Limited and its subsidiaries, including REpower Systems SE.
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