History of Suzlon Energy

_x000D_ Suzlon Energy Ltd. was incorporated in 1995 by Mr Tulsi Tanti. He was primarily in the textile business when he was introduced to wind energy through a wind power project that he had commissioned for his own textile factory._x000D_ _x000D_ Suzlon Energy first entered into a technical collaboration agreement in 1995 with a German company named Sudwind GmbH Windkrafttanlagen in order to source the latest, advanced technology for the production of WTGs or wind turbine generators in India._x000D_ _x000D_ Over time, the company obtained licenses of different forms from multiple companies to produce special components of renewable energy devices. Suzlon has also set up technological development centres in Germany and the Netherlands through some of its wholly-owned subsidiaries._x000D_ _x000D_ As of September 2023, the company has installed 20+ GW of wind energy in 17 countries and 111+ wind farms. Suzlon also installed India’s tallest wind turbine at 160 meters in FY 2023 so that wind energy output can be maximised in low-wind sites._x000D_ _x000D_ Suzlon has a long list of domestic subsidiaries for different segments such as Gale Green Urja, SE Forge, etc. and foreign subsidiaries for overseas operations, such as Suzlon Energy A/S, Suzlon Energy Korea Co., etc._x000D_

Business Segments

_x000D_ The company introduced the concept of total solutions in wind energy projects. This means in addition to the equipment supply, the company offers associated project execution work such as land acquisition, site development, foundation, and other civil work and O&M services._x000D_ _x000D_ Currently, Suzlon boasts a long list of global and local clients. It builds wind energy infrastructure for them. Some of the latest top clients of the company include Adani Green, GAIL, Bajaj and the Aditya Birla Group. The list of its clients mostly includes power utilities and electricity producers in both the private and public sectors._x000D_ _x000D_ Suzlon’s product lines include the S144, S133, and S120 Wind Turbine Generators. However, it also places adequate effort into maintaining and servicing the older models. Sales of new wind turbines and their components cover a large majority of the company's revenues. Geographically, more than 90% of its revenue comes from within India. In FY 2022, the company introduced a 3 MW product series. It is a customisable platform to allow flexibility in site-specific requirements._x000D_

Key Personnel of Suzlon Energy

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• Tulsi Tanti, Founder
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_x000D_ Mr Tanti was one of the richest energy entrepreneurs in the world who turned Suzlon into the largest wind energy company globally. Originally the owner of a small textile company, he had initially brought in some windmills to solve the problem of irregular electricity in his facility. An engineer by profession and training, he had also been the president of the Indian Wind Turbine Manufacturers Association._x000D_

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• Vinod Tanti, Chairman and MD
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_x000D_ He is the brother of the late Mr Tulsi Tanti and is also a founding member of Suzlon Energy. He has over 34 years of experience in managing various key functions at Suzlon. He was also the Chief Operating Officer of Senvion, Germany, in 2012-13, when Senvion was a global leader in wind turbine technology. The functions handled by him in the past include efforts in wind resource assessment, acquisition, product design, supply management, etc._x000D_

Suzlon Corporate Action

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• Stock Split
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_x000D_ Suzlon Energy has split the face value of its shares once, from ₹10 to ₹2. The share became ex-split on January 21, 2008._x000D_

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• Rights Issue
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_x000D_ Suzlon Energy issued a rights share with the ex-rights date on October 3, 2022, in the ratio of 5:21 at a premium of ₹3 per share. Before that, it had also announced a rights issue with an ex-date on June 9, 2010._x000D_

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• Mergers and Acquisitions
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_x000D_ In 2016, Suzlon acquired 5 solar energy companies, viz. Gale Solarfarms, Tornado Solarfarms, Abha Solarfarms, Aalok Solarfarms and Shreyas Solarfarms._x000D_ _x000D_ In 2015, Suzlon sold 23% of its shares to Dilip Sanghvi Family and Associates._x000D_ _x000D_ In 2007, it bought Senvion, a German wind turbine manufacturer and turned it into a subsidiary. However, it sold the company in 2015._x000D_ _x000D_ In 2006, it bought Belgium-based Hansen, the second-largest maker of wind turbine gearboxes in the world, for $565 million._x000D_

Financial Highlights

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1. From having incurred a net loss of ₹2,692 crore in March 2020, Suzlon went on to earn a net profit of ₹2,887 crore in March 2023.
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2. As of September 2023, the company has a high debt-to-equity ratio of 1.76.
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