Suzlon Energy fell 15.29% to Rs 14.40 at 12:02 IST on BSE, extending recent losses triggered by the company's discouraging Q3 December 2015 results announced after market hours on Friday, 29 January 2016.
Shares of Suzlon Energy fell 8.37% to Rs 18.60 on Monday, 1 February 2016. The stock has fallen 29.06% in three trading sessions from Rs 20.30 on 29 January 2016.Meanwhile, the BSE Sensex was down 237.56 points, or 0.97%, to 24,301.44.
On BSE, so far 4.74 crore shares were traded in the counter, compared with an average volume of 72.81 lakh shares in the past one quarter. The stock hit a high of Rs 16.60 so far during the day. The stock hit a low of Rs 13.75 so far during the day, which is also a 52-week low for the counter. The stock hit a 52-week high of Rs 31.35 on 19 March 2015. The stock had underperformed the market over the past one month till 2 February 2016, sliding 22.20% compared with 6.20% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 29.90% as against Sensex's 7.61% fall.
The mid-cap company has an equity capital of Rs 1000.24 crore. Face value per share is Rs 2.
On a consolidated basis, Suzlon Energy reported consolidated net loss of Rs 113.17 crore in Q3 December 2015, lower than net loss of Rs 6538.68 crore in Q3 December 2014. Net sales declined 61.87% to Rs 1889.29 crore in Q3 December 2015 over Q3 December 2014.
On 22 January 2015, AE Rotor Holding B.V. a step-down wholly owned subsidiary of the company and its subsidiaries signed a binding agreement with Centerbridge Partners LP, USA to sell 100% stake in Senvion SE. The transaction concluded on 29 April 2015 and therefore, consolidated financial results of Senvion SE and its subsidiaries for the month of April 2015 has been considered for consolidation. Accordingly, the consolidated financial results for the quarter ended 31 December 2015 are to that extent not comparable with the prior period presented, the company said in a statement.
The company said its order book as on 31 December 2015 stood at 897 megawatts (MW) valued at Rs 5527 crore. Current backlog stands at 1,195 MW, the company added.
The Suzlon Group is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries in Asia, Australia, Europe, Africa and North and South America. The company has recently forayed in the solar space.
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