Increasing Role of Renewable Energy in Global Generation
Overview
Global energy markets entered FY25 amid deepening uncertainty, shaped by prolonged geopolitical conflicts, high inflation, and evolving policy landscapes. The ongoing Russia-Ukraine war, instability in the Middle East, and trade tensions in key economies—exacerbated by renewed isolationist stances in the West—have further strained an already delicate global environment. Despite these headwinds, the clean energy transition remains resilient. Securing affordable energy while addressing the escalating climate crisis is now central to national agendas worldwide.
Global energy demand increased by 2.2% in 2024, surpassing the 1.3% annual average from 2013 to 2023, partly due to extreme weather, which contributed 0.3% to the demand. Electricity demand rose at a higher rate of 4.3% compared to the energy demand, driven by the increased use of electricityintensive appliances, manufacturing, digitalisation, data centres, AI, and end-use electrification. The power sector accounted for three-fifths of the total increase in global energy demand.
In 2024, renewable energy sources accounted for nearly three-quarters of the overall increase in power generation. Wind energy expanded by approximately 180 TWh, as new projects became operational.
Outlook
The global renewable energy sector is poised for sustained acceleration, driven by the urgent need for energy security, climate action, and economic resilience. Falling costs, supportive policies, and increasing electrification are propelling the shift toward a cleaner, more secure global energy system.
According to the International Energy Agency (IEA), over 560 GW of renewable energy capacity was added in 2023 alone — a record high and a clear signal of momentum. By 2030, renewables are projected to account for over 80% of new global power capacity additions under the IEAs Stated Policies Scenario (STEPS), which reflects policies and measures currently in place across governments.
This transformation plays out differently across future scenarios, depending on the pace and depth of policy action. Under STEPS, based on current government measures, clean energy sees moderate yet steady growth. The Announced Pledges Scenario (APS) envisions a more ambitious trajectory, assuming countries deliver fully on their climate commitments. The Net Zero Emissions by 2050 Scenario (NZE) charts the most accelerated transition, aligning energy systems with the 1.5?C climate goal.
STEPS, a scenario based on current policy settings, sees clean energy poised for huge growth, while coal, oil, and natural gas each reach a peak by 2030 and then start to decline.
Notes: EJ = exajoules; STEPS = Stated Policies Scenario; APS = Announced Pledges Scenario; NZE = Net Zero Emissions by 2050 Scenario. Oil, coal, and natural gas refer to unabated uses as well as non-energy use. Clean energy includes renewables, modern bioenergy, nuclear, abated fossil fuels, low-emissions hydrogen, and hydrogen-based fuels. Other includes traditional use of biomass and non-renewable waste.
Figure 2: Projected Global Energy Mix by Policy Scenario to 2050 Source: IEA - World Energy Outlook 2024, October 2024
Across all pathways, one trend remains consistent: clean energy emerges as the central pillar of the global energy mix by mid-century, reshaping how the world powers its growth.
Wind and solar will remain central to this transformation, especially when paired with robust investments in grid infrastructure, energy storage, and supportive regulatory
ecosystems. Meeting net zero targets will require a sharp acceleration in solar PV and wind deployment. While both grow under STEPS, the NZE Scenario demands significantly more — an additional 7,000 TWh from solar and 5,000 TWh from wind by 2035. This reflects their cost advantage, widespread availability, and strong policy support.
Global Wind Energy Sector
Overview
In CY24, 117 GW of new wind power capacity was added globally, equalling the installations seen in CY23. This marks the second consecutive year that annual additions have exceeded 100 GW. As a result, total global wind capacity reached 1,136 GW, with cumulative onshore installations crossing the 1,000 GW milestone for the first time.
Global new onshore wind energy installations reached 109 GW in CY24, reflecting a marginal 3% increase over CY23. This addition brings the cumulative global onshore wind capacity to 1,052.3 GW. Despite the modest growth, CY24 marked a continuation of strong momentum in onshore wind deployment. On the offshore front, 8 GW of new capacity was added during the year — a 26% decline compared to CY23. However, total global offshore wind capacity has now grown to 83.2 GW, maintaining its relevance as a key component of long-term renewable energy strategies.
The top five markets for new installations in 2024 were China, the US, Germany, India, and Brazil. China added 70% of the new onshore wind capacity in CY24, while the US, India, Germany, and Brazil collectively added 13%. In terms of cumulative installed wind capacity in the world today, China retains the top spot, having installed approximately half the worlds onshore wind capacity within the country. India currently holds the 4th place, with immense potential to reach the 3rd position if the capacity-addition pace were to ramp up.
Outlook
Despite mounting geopolitical and economic headwinds, the long-term outlook for wind energy remains strong. While near-term projections have been revised downward, global commitment to energy security and climate goals continues to drive momentum.
New wind installations are projected to reach a record 138 GW in 2025, according to the Global Wind Energy Council (GWEC). Under the current policies, a total of 982 GW of new capacity is expected to be added between 2024 and 2030, averaging 164 GW annually. This growth reflects a robust compound annual growth rate (CAGR) of 8.8%, reinforcing optimism for the sector after a record year in 2024.
Figure 7: New Installations Outlook 2025-2030 (GW) Source: GWEC: Global Wind Report 2025
Indias Clean Energy Sector
Overview
India has continued to reinforce its leadership in clean energy, securing the fourth position globally for both total renewable energy and wind installed capacity as of March 2025. Despite macroeconomic uncertainties, including inflationary pressures and the geopolitical turbulence of recent years, the countrys commitment to energy transition has remained unwavering. As of April 30, 2025, Indias total installed power generation capacity reached 472.5 GW. Of this, 47.2% now comes from renewable sources, including large hydro, reflecting a notable shift from the countrys traditional reliance on fossil fuels. This transition is further underscored by the scale of cumulative renewable installations, which stood at 223.6 GW by the end of April 2025.
The growth in renewables has been fuelled by a combination of policy reforms, investor confidence, and rising domestic electricity demand. Per capita electricity consumption has increased 1.6x in the past 10 years — from 698 kWh to 1,106 kWh — driven by urbanisation, electrification of rural areas, and industrial growth. Investment into Indias energy transition hit a record $ 47 Billion in CY24, spanning clean energy, transport, industrial decarbonisation, and grid modernisation. However, to stay aligned with global net-zero targets for 2050, annual investments will need to increase by 4.3X between 2025 and 2030.
A key enabler of this transformation has been the Government of Indias policy framework, which allows 100% foreign direct investment (FDI) in the power sector. The non-conventional energy segment has attracted $ 21.9 Billion in FDI from April 2000 to March 2025, with $ 4 Billion inflow in FY25 alone — up 6.6% over the previous fiscal. The share of renewable energy in total FDI has consistently increased over the past five years, growing from 1.3% to 8.4% in FY25, demonstrating rising global confidence in Indias clean energy ambitions.
The development of energy markets has also seen encouraging trends. The Green Day Ahead Market (GDAM) registered a four-fold increase in traded volumes, with 8.3 Billion units exchanged in FY25, compared to 2.5 billion units in FY24. This growth highlights greater market responsiveness to green energy, increased participation from distribution companies and corporations, and the impact of regulations such as the Green Energy Open Access Rules, 2022.
Outlook
India is set to lead the global energy demand growth over the next decade, driven by population and sectoral expansion. Under the STEPS, demand is projected to rise by nearly 35% by 2035, with power capacity expected to triple to 1,400 GW. The APS, aligned with Indias 2070 net zero goal, boosts clean power generation nearly 20% above STEPS levels. By 2030, India is projected to hold the worlds third-largest installed battery storage capacity, facilitating greater integration of variable renewable energy sources.
Indias Wind Energy Sector
Overview
Wind energy remains a cornerstone of Indias renewable energy journey. In FY25, India crossed a major milestone by surpassing 50 GW of installed wind capacity, reaching 51.1 GW by May 2025. This firmly positions wind as the second- largest renewable source in the country, after solar. The sector is on a growth path towards the governments target of 122 GW by 2031-32, with an interim goal of 25 GW of additional installations by FY28.
A CEA study on RE Round-the-Clock (RTC) supply highlights the critical role of wind energy in delivering cost-effective, high-availability green power. In a 100 MW 100% RTC case, wind accounted for over 65% of the capacity mix, resulting in a competitive tariff of Rs. 4.95/kWh. Unlike solar, wind supports both day and night supply and is better aligned with the intraday and seasonal demand peaks. This translates into reduced storage needs, better utilisation of existing transmission assets, and stabilised costs. The study shows that as RTC requirements get more stringent, wind requirements scale significantly — nearly twice that of solar — making wind indispensable for Indias firm renewable energy future. The importance of RE-RTC is also reflected in the tendering patterns of Renewable Energy Tendering Agencies (REIAs), which tendered 33.1 GW in FY25, with 71% of this tendered capacity going towards hybrid/RTC/FDRE tenders.
This type of RE-RTC/FDRE power is most suited for C&I customers who have much to gain in energy savings, as well as from progress towards their RE100 commitments, through the procurement of green power. RE100-committed companies improved their procurement of RE power to 39% from 23% in the previous year. Given the impact of wind on lowering the costs of RTC tenders, it is expected that as these commitments expand and more C&I customers commit to RE100, wind energy consumption will also increase. This trend is already visible in the open access (OA) installations wherein the share of C&I customers has increased from 15% in FY20 to 30% in FY25 (till December 2024).
A study by NLDC in January 2025 identified periods when the available all-India generation was insufficient to meet the all-India demand. It showed the highest probabilities of unmet demand occurring during non-solar hours from April to September and during early morning and sunset hours from December to March. Therefore, states need to focus on increasing wind capacities to significantly reduce power shortages in the long term.
Despite a shortfall in tendering by REIAs at the national level, several states continued to drive momentum in the wind energy sector. Gujarat and Tamil Nadu retained their leadership positions, both increasing their installed capacity to over 12 GW and 11.7 GW, respectively. Karnataka made notable strides as well, adding over 1 GW in a single year to reach 7.35 GW. Maharashtra, Rajasthan, Andhra Pradesh, and Madhya Pradesh also contributed incremental capacity, while smaller states like Telangana and Kerala maintained modest levels of installed wind infrastructure.
Outlook
With electricity demand expected to grow at a CAGR of 7.18% till 2026-27 (compared to 2021-22 levels) and a CAGR of 5.79% from 2026-27 to 2031-32 (as per the Ministry of New and Renewable Energy), the role of wind energy is expected to expand significantly. However, timely execution of tenders, better grid integration, repowering of old turbines, and localised manufacturing will be critical to meet the sectors potential. The policy intent, demand outlook, and investor sentiment remain strong. Consistent delivery on the ground is currently needed to maintain momentum toward 2030 and beyond.
About the Suzion Group
The Suzion Group (‘Suzion, ‘the Company, ‘the Group) is a leading global renewable energy solutions provider, with a wind turbine capacity of approximately 21 GW installed across 17 countries as of March 31, 2025. Headquartered at Suzlon One Earth in Pune, India, the Group includes Suzlon Energy Limited and its subsidiaries.
A vertically integrated organisation, Suzlon operates in-house R&D centres in Germany, the Netherlands, Denmark, and India, supported by world-class manufacturing facilities across India. With over 30 years of expertise and a workforce of ~7,800, Suzlon is Indias No. 1 renewable energy company, managing 15.1 GW of domestic wind assets and ~6 GW internationally. Its portfolio includes advanced 2.x MW and 3.x MW wind turbines.
Products and Technology
The Indian wind energy industry is undergoing a structural shift towards larger, more efficient turbines, with the share of machines exceeding 3 MW rising sharply in 2024.
Suzlons proactive product strategy has allowed it to stay ahead of this curve. The Companys latest model, the S144, now accounts for 90%+ of the current order book, and has a significantly improved energy yield compared to previous generations. Suzlon had commissioned the first prototype of the S144 in FY23, and its commercial success in FY25 reflects both strong market acceptance and the products technological maturity.
Suzlons turbines are designed with a deep understanding of Indias complex wind regimes, focusing on reducing the levelised cost of energy (LCOE) while maintaining high machine availability and reliability. The Companys turbines are supported by in-house design, structural optimisation, and lifecycle assessments that extend asset life and reduce customer downtime. As the industry shifts towards taller towers, modularised designs, and digital controls, Suzlon continues to invest in optimising its platform to meet evolving customer and regulatory needs.
The new localisation mandates introduced by the Ministry of New and Renewable Energy are critical in reinforcing Indias self-reliance or Atmanirbharta in the wind energy sector. These regulations now require manufacturers to disclose the production origin of every major component. Such policy developments, alongside restrictions on data transfer and a preference for domestic R&D and O&M capabilities, are strategically designed to bolster the entire Indian manufacturing ecosystem.
With an impressive ~20 GW of domestic manufacturing capacity already in place, India is more than self-sufficient in meeting its internal wind energy demand. This capacity, built over the past three decades, not only ensures Indias energy security but also positions domestic manufacturers advantageously to tap into the global export market, catering to the expected 164 GW of global additions every year till 2030. These tailwinds are poised to significantly benefit Indian players, fostering growth and innovation within the country. As a vertically integrated player with a long-standing manufacturing base and a highly integrated domestic supply chain in India, Suzlon is proud to lead the nations ‘Make in India mission in the wind sector.
Key Initiatives and Priorities
FY25 has marked a transformative year for Suzlon, defined by remarkable achievements, with the highest-ever revenue, EBITDA, and PAT post FY17. The entire team at Suzlon demonstrated unwavering dedication, making this one of the most successful and memorable years in the Companys journey to date. This year marks a significant milestone: Suzlons 30th anniversary. Over the past three decades, Suzlon has demonstrated resilience, innovation, and a forwardlooking spirit that continues to guide the Company.
Suzlon has identified the following key priorities and initiatives that will help it achieve its envisioned growth trajectory:
- Our top priority remains the timely execution of our robust order book, while maintaining the highest standards of quality and ESG.
- Deliver exceptional, end-to-end services across the entire lifecycle of wind energy projects.
- Retain market leadership by enhancing market share through strategic growth and innovation.
- Lower the levelised cost of energy (LCOE) by deploying advanced technologies and market-specific product solutions.
- Drive cost optimisation through value engineering and improved operational efficiencies across the value chain.
- Consistently outperform industry benchmarks to ensure superior machine availability and reliability.
- Empower customers with enhanced efficiency and higher energy yields through tailored solutions and continuous support.
Operational Turnaround with WTG Business Operating Leverage Began to Materialise
FY25 marked a key inflexion point for Suzlon, as the benefits of operating leverage in the WTG business began to materialise. This strong performance reinforces the Companys confidence that the it has firmly transitioned into the next phase of its operational turnaround, following a successful financial revival nearly a year ago. FY25 has been pivotal for Suzlon with:
Highest ever order book of
5.6 gw
as of May 31, 2025, providing revenue visibility
Sole winner of NTPCs PSU tenders of
1,544 mw
underscoring our continued focus on product quality
Augmented manufacturing capability of
4.5 gw -
Completely debt-free balance sheet with net cash surplus of
J 1,943 Crore
as of March 31, 2025 -
Strong credibility built over three decades with
95%
machine availability guaranteed
The Companys end-to-end wind energy model — backed by a fully integrated supply chain, proven execution, and best-inclass service — offers a unique and strong competitive edge.
Business Risks and Mitigation Measures
Suzlon employs a robust risk mitigation strategy that facilitates a thorough assessment of both internal and external environments. This enables the Company to take proactive and informed actions to effectively address potential challenges. The core components of this programme are outlined below:
^ Operational Risks
Technology Risk
The wind energy sector faces technology risks stemming from the need to constantly evolve turbine design and performance in response to cost pressures, changing site conditions, and rapid innovation. Failure to keep pace with these developments can result in suboptimal performance, higher lifecycle costs, or reduced competitiveness.
Mitigation Measures: Suzlon leverages world-class technological expertise through its integrated Indian- European R&D footprint to drive continuous innovation. The Group utilises its in-house design and engineering capabilities to develop a specialised product portfolio tailored for Indias low-wind conditions. By enhancing performance, optimising component costs, and improving efficiency across the project lifecycle, Suzlon proactively addresses technology-related vulnerabilities, while maintaining long-term competitiveness.
Supply Chain Risk
Wind turbine manufacturing demands precise, time-sensitive supply chain planning, particularly for the procurement of critical components such as gearboxes, bearings, generators, converters, towers, and blades, all of which have long lead times, limiting flexibility. Many component costs are closely tied to commodity prices — such as steel, copper, and crude oil — exposing the Group to market volatility. Additionally, geopolitical disruptions have continued to impact logistics and supply chains, causing delays in component availability and affecting both project timelines and costs.
Mitigation Measures: Suzlon actively works on reducing supply chain pressures by developing alternative vendors and securing long-term supply agreements. Suzlons supply chain management system ensures efficient resource deployment and optimal utilisation. This is achieved by expanding and integrating a geographically-dispersed supplier base through vendor development, localisation, and standardisation of select components to ensure timely availability while maintaining cost control.
Project Execution Risk
In recent years, the wind energy sector in India has faced execution challenges, primarily due to delays in land acquisition and statutory approvals, which have resulted in cost overruns
and project delays. Additional risks include extreme climatic conditions, environmental factors, natural disasters, limited grid capacity for power evacuation, availability of suitable land, timely access to cranes for installation, and the performance of subcontractors in executing project activities.
Mitigation Measures: Suzlon actively monitors project progress against planned timelines to ensure timely completion and mitigate these risks. Additionally, the Company is pursuing a long-term strategy to address land-related delays by developing a robust and active project pipeline, enabling smoother execution and improved project readiness.
Business Volume Risk
Suzlon faces business volume risk arising from potential fluctuations in order inflows due to shifts in policy frameworks, regulatory uncertainty, or delays in project execution. These factors can impact the pace of wind turbine installations and revenue realisation.
Mitigation Measures: Suzlon has established a robust and diversified order pipeline across the PSU, C&I, and utility segments. As of May 2025, the Group has secured a record- high order book of 5.6 GW, including a landmark 1.5 GW award from NTPC, affirming Suzlons market leadership and technological reliability. Additionally, the Groups proactive engagement with customers, focus on execution readiness, diligent tracking of market developments, and the prevailing favourable tariff environment (approximately Rs. 3.5/unit) continue to bolster market confidence and safeguard against volume volatility.
11 Financial Risks
Availability of Adequate Working Capital
The Wind Turbine Generator (WTG) business is inherently working capital-intensive, exposing Suzlon to liquidity risk that may affect timely project execution. Large orders demand significant financial backing, particularly for procurement and logistics.
Mitigation Measures: Suzlon has partnered with various banks to secure a revolving, non-fund-based working capital facility exceeding Rs. 6,000 Crore. Additional limits will be availed as needed, ensuring adequate financial support for executing the current order book.
Suzlon needs only non-fund based banking limits, predominantly for the issuance of Letter or Credit (‘LC) and Bank Guarantee. With a strengthened balance sheet and improved credit ratings from external agencies, the Company is well-positioned to explore and leverage various financing options in the future.
Delay in Funding for Planned Capital Expenditure
Timely capital expenditure is critical for scaling manufacturing capabilities and meeting growing market demand. Delays in funding planned investments could impact Suzlons ability to execute orders efficiently or respond to new market opportunities.
Mitigation Measures: Suzlon maintains a strong financial foundation, with a net cash surplus of Rs. 1,943 Crore as of March 31, 2025, enabling timely investments primarily focused on blade mould development. The Companys installed capacity stands at 4.5 GW, supported by fully operational nacelle facilities in Daman and Puducherry. Ongoing expansion of blade manufacturing through new plants in Madhya Pradesh and Rajasthan ensures readiness to meet future production demands. These efforts are aligned with the strong market response to Suzlons best-in-class S144 Wind Turbine Generator, specifically designed for Indian wind conditions, and form part of a broader strategy to enhance technological capabilities and optimise processes.
Poor Financial Position of Distribution Companies
Electricity distribution companies in several Indian states continue to face financial distress, which, although not directly impacting Suzlon due to the absence of commercial relationships, could still have indirect consequences. Such instability may adversely affect business volumes, operational results, and future cash flows. Additionally, challenges faced by these distribution companies could contribute to negative market perceptions, potentially impacting Suzlons business environment.
Mitigation Measures: Suzlons customer base comprises a significant proportion of PSU and C&I clients, which helps mitigate the impact of financial instability in the distribution sector. As a result, the overall exposure to risks arising from the poor financial health of distribution companies remains limited.
Foreign Exchange Risk
Suzlons business operations are subject to fluctuations in foreign exchange rates and commodity prices, which can lead to increased input costs and impact overall profitability.
Mitigation Measures: To manage financial risks associated with commodity price volatility, the Company employs a combination of strategies, including price variation clauses embedded in customer contracts, financial market hedging, and pass-through pricing arrangements. These measures help mitigate exposure and ensure greater financial stability.
Volatility in Domestic Inflation Rates
Volatile and persistently high inflation in India poses a significant risk to Suzlons cost structure, potentially driving up prices of commodities, raw materials, direct expenses, and overheads. This can erode profit margins and complicate cost forecasting and control.
Mitigation Measures:
Under such conditions, the Company may be unable to fully pass on increased costs to customers, which could adversely affect its business performance and financial health. Additionally, sustained inflation may lead to prolonged periods of high interest rates, which could impact borrowing costs and exert downward pressure on product pricing and profitability. Suzlon continues to closely monitor macroeconomic trends and proactively manage cost structures; however, this remains a partly external risk, given the limited pricing flexibility in select contracts and market segments.
Internal Control Systems and their Adequacy
Suzlons Management Assurance team, comprising in-house experts and experienced co-sourced partners, conducts independent reviews of risks, controls, operations, and procedures. These reviews help identify control and process gaps, while recommending effective business solutions to mitigate risk. The Group also operates an in-house Risk and Misconduct Management Unit, which supports leadership in assessing, strengthening, and institutionalising ethical business practices and core values.
Complaints received under the Whistleblower Policy are regularly evaluated, ensuring transparency and accountability. The Audit Committee of the Board plays a key oversight role by periodically reviewing management audit reports, audit plans, auditor recommendations, and managements responses. During the year, the Audit Committee convened four times.
Additionally, the Company is investing in transformation initiatives aimed at automating systems and driving process efficiency. This includes upgrading relevant software and ERP tools to ensure a more system-driven and digitally-enabled operational environment.
CSR Activities and Impact
Wind farms require significant land resources, making continuous engagement with landowners and their village communities essential. Even after the construction and 25-year operational lifecycle of our wind farms, the social progress initiated by Suzlon continues to grow. This longterm impact reflects the Companys vision of Corporate Social Responsibility — creating meaningful, lasting change that uplifts communities.
As India targets nearly 100 GW of installed wind energy capacity by 2030, Suzlon remains both driven and hopeful about the positive social transformation that this growth can enable. In line with this vision, Suzlons CSR arm — established in 2007, well before the enactment of the CSR Law in 2014 — has been at the forefront of the Companys community development initiatives for over 15 years.
Our CSR strategy has evolved into a robust model for village- level development, reaching more than 2,297,019 individuals across over 449,740 households in 8 states and 1 union territory of India. Today, more than 73 profit-generating, selfreliant village-level institutions stand as a testament to the strength and success of our approach.
Suzlon Energy executes its CSR activities through the Suzlon Foundation, a non-profit company registered as a Section 8 company, which has been involved in various community development activities taking place across the Companys areas of operation for over 18 years. The SUZTAIN model anchors Suzlons central vision for social change, representing the CSR priorities that underlie its work.
These goals guide Suzlons choice of new projects and helps the Company align its social impact goals with its expected business outcomes, by strengthening its brand image, goodwill, and enhancing its stakeholder engagement, while also mitigating business risks.
Suzlon addresses a broad range of issues within its core CSR impact areas, while also implementing ‘Zero Programmes that extend beyond conventional development goals. These initiatives focus on often-overlooked groups, including senior citizens, children under five, individuals with disabilities, and vulnerable animals and birds that share local habitats. Integrated into the Companys primary CSR efforts, the Zero Programmes promote greater developmental equity by ensuring support reaches those most marginalised, even within disadvantaged communities.
Performance Review of Suzlons CSR Impact Areas
Over the past 18 years, Suzlon has steadily expanded the reach and impact of its CSR initiatives through a multi-modal approach. The Company engages directly with village communities to establish self-governed, self-sustaining development mechanisms such as Village Development Committees (VDCs) and Self-Help Groups (SHGs). In parallel, it collaborates with specialised partners including NGOs, civil society organisations, and corporate foundations. In FY25, Suzlon implemented its CSR programmes in partnership with 26 agencies and worked with 212 private and public sector institutions. Additionally, over Rs. 1.17 Crore was mobilised through co-funding from stakeholders, such as employees, customers, and community members, supplementing Suzlons annual CSR budget.
^1 Measuring Impact
An independent Environmental and Social Return on Investment (ESRol) assessment was conducted for 3,790 CSR projects implemented by the Suzlon Foundation under Suzlon CSR in FY24. Spanning 62 districts across 9 Indian states, these initiatives covered six key areas: Civic Amenities, Health, Livelihood, Empowerment, Environment, and Education, with a total investment of Rs. 425.57 Lakh.
The study, based on field visits, stakeholder discussions, and beneficiary feedback, evaluated both immediate outcomes and long-term impact. It reported a total societal wealth
generation of Rs. 6,012 Lakh, yielding an exceptional ESRoI of 6,008% — equating to Rs. 65.6 returned for every Rs. 1 invested. Notably, Civic Amenities, Livelihood, and Empowerment emerged as the themes delivering the strongest and most immediate financial returns, underscoring the strategic focus and maturity of Suzlons CSR approach.
The report affirmed the lasting value of these interventions, highlighting their contribution to ecological sustainability, foundational social development, and long-term community well-being.
Environment
Environmental sustainability remains a core focus for Suzlon, given the close interdependence between rural communities and ecosystem health. The Companys initiatives aim to increase green cover, restore threatened natural resources, protect native habitats, and rewild degraded land to support biodiversity.
Regreening Efforts
In FY25, Suzlon planted 28,424 saplings, focusing on native species such as neem, pomegranate, Flame of the Forest, jackfruit, jamun, teakwood, and Indian gooseberry. Emphasising long-term impact, villagers were trained to nurture these saplings to maturity. Among previously planted saplings, 21,783 have successfully grown into trees.
Notably, in Rajasthans arid zones, 4,538 of 6,226 saplings survived — demonstrating strong community involvement and the effectiveness of Suzlons awareness drives.
Water Conservation
India faces critical water stress, and Suzlon operates in some of the most affected regions, including Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Karnataka, and Tamil Nadu. To support water security, the Company undertakes initiatives such as desilting rivers and ponds, constructing check dams and farm ponds, implementing borewell recharge systems, and promoting rainwater harvesting.
In FY25, these efforts resulted in the conservation of 1,86,993 cubic metres of water through a combination of water conservation structures and tree plantation initiatives. These interventions are helping nearby villages move toward greater water security and longterm sustainability.
Nature Thrives When Given a Chance
In FY25, the Suzlon Foundation launched a pioneering initiative called the ‘Reviving Vulnerable Grassland Ecosystem Project in Gulunche village, Purandar taluka, in Pune, Maharashtra. The project aimed to regreen denuded scrubland in the area and rewild with native species once their habitats were restored.
The initiative began with planting native grass species such as Anjan and Sheda and removing invasive species like Prosopis juliflora. Following this restitution, biodiversity monitoring camera traps were installed to track wildlife activity and assess restoration progress. Additionally, seeds from four grass species were collected, dried, and stored to produce 20,000 grass seedlings. A total of 50,000 grass seedlings were later planted, once the restoration site had stabilised. Native wildlife such as Chinkara and black-naped hares returned to their normal habitats, following restoration.
The project is being implemented across 20 hectares of land in collaboration with the Pune Municipal Corporation, ATREE, and The Grassland Trust. All efforts to regreen and maintain the grassland are being carried out with the active participation of the villagers of Gulunche. This project highlights natures immense resilience and adaptability, even in the face of increasing human presence and dwindling green cover.
Zero Sparrow Deaths:
Welcome Back to the Nest
Recognising the vital role birds play in pollination, seed dispersal, and ecosystem balance, Suzlon has undertaken targeted efforts to support native bird populations. Through the installation of bird nests, feeders, resting spots, and water troughs in frequented areas, the Company has created safe habitats for local avian species.
Over the past year, Suzlon was instrumental in establishing 8,199 bird conservation units, benefiting approximately 25,162 birds across native species,
including sparrows, mynas, and bulbuls, reinforcing its commitment to preserving natures essential allies.
Zero Garbage:
Less Plastic, More Cleanliness
As part of its commitment to creating plastic-free environments, Suzlon implemented a structured Plastic Collection Management System across 254 locations. This initiative led to the successful collection and recycling of 1,204 kilograms of plastic waste. The effort contributed to cleaner surroundings while helping prevent water pollution and animal harm caused by plastic ingestion.
Empowerment
Suzlons ‘SUZTAIN model of community development is built on the Engage-Empower-Sustain framework, supporting Village Development Committees (VDCs) until they become self-sustaining. The Company provides funding, mentorship, and capacity-building support to enable long-term community- led development. In FY25, training and awareness sessions were conducted for VDCs and women-led Self-Help Groups (SHGs), including federation meetings for 104 members and joint liability group meetings for 72 members. Additionally, 370 women were trained and inducted into newly formed SHGs, reinforcing Suzlons ongoing focus on womens leadership and entrepreneurship.
During the year, Suzlon extended revolving fund support across a diverse range of initiatives, from facilitating VDC- formation and establishing their corpus funds, to enabling VDC-led income generation activities such as poultry farming, ethnic food production and training centres, agro service centres, horticulture units, organic pulse marketing, the deployment of corn deseeding machines, and more.
| State | VDCs with income generating activities | Annual profit from 73 VDCs income generation activities (in J) |
| Andhra Pradesh | 4 | 34,000 |
| Gujarat — Saurashtra | 2 | 3,078 |
| Karnataka | 37 | 405,600 |
| Madhya Pradesh | 3 | 15,000 |
| Maharashtra | 3 | 9,300 |
| Rajasthan | 9 | 251,000 |
| Tamil Nadu | 39 | 120,820 |
| Total | 97 | 838,798 |
Of the 97 income-generating Village Development Committees (VDCs) established under Suzlon CSR, 73 reported profits, with Karnataka contributing the highest number of these successful VDCs.
VDCs conducted Government Life Insurance Policy Awareness programmes to encourage rural communities to secure their financial future. As in previous years, the initiative saw strong participation, with 1,456 villagers purchasing policies. These programmes significantly contribute to financial inclusion, offering critical security to rural populations with minimal assets and limited protection in times of crisis.
Health
Good health forms the foundation for a better life and a thriving community, and is a key developmental indicator. Suzlon CSR places strong emphasis on healthcare as one of its key focus areas. In rural areas, poor health often stems from limited resources, lack of awareness and access, unsanitary conditions and prevailing social and religious biases. Suzlons health-related interventions aim to address these challenges holistically. During the year, 8,539 benefitted from initiatives such as adolescent and womens health training, general health camps, specialist tele-consultations and cancer screening
camps. Of the 3,650 women screened, 274 were diagnosed with conditions including cancer, uterine disorders, and other health issues, enabling early detection and timely treatment.
A total of 19,024 villagers were reached through various health initiatives aimed at improving community well-being and access to medical services. These included awareness sessions on health and personal and household hygiene, general health check-ups, and diagnostic camps offering basic consultation services.
Additionally, the infrastructure at Primary Health Centres was strengthened with essential healthcare equipment — BP apparatus, infant and digital weighing scales, foetal dopplers, glucometers, stethoscopes, digital thermometers, emergency lights, nebulisers, and steam inhalers — along with furniture like tables, chairs, and fans. More than 6,600 villagers benefited from these enhancements, enabling better rural healthcare delivery.
Zero Cataract: The Gift of Vision
Suzlons cataract screening and remedial initiatives continue to serve a critical yet often overlooked segment within the village community — the elderly.
This year, 7,320 patients benefitted from cataract screening camps. Additionally, recognising the unique needs of truck drivers, 20,720 drivers participated in dedicated camps, addressing the lack of access to timely eye care despite the importance of good vision for road safety. A total of 1,283 cataract surgeries were conducted; 1,265 for elderly persons and 18 for truck drivers.
Zero Malnutrition:
Small Steps to Ending Hunger
Marginalised groups, such as individuals with disabilities, often face multiple barriers in accessing basic necessities, particularly during illness or financial distress.
To help mitigate this, Suzlon distributed grocery items to 260 vulnerable households. Additionally, essential groceries were provided to 227 persons with disabilities, 70 children from an orphanage, and 30 residents of an old age home. These targeted efforts aimed to reduce the risk of malnutrition among the most vulnerable populations.
Restoring Vision, Renewing Lives
In the sun-scorched villages of Jaisalmer, Rajasthan, where sandstorms and harsh UV rays silently steal away vision, hundreds of elderly villagers had resigned themselves to a world of shadows. Due to the considerable distance from medical facilities, the elderly had limited access to essential healthcare services. Suzlon Foundation, in collaboration with CECOEDECON, held a cataract screening camp across 14 remote villages. With support from the local VDCs, 296 villagers received their first-ever eye check-ups. Many were diagnosed early, preventing blindness and restoring not just sight, but dignity and independence.
Sannahanumavva Malipatil, from Karnatakas Adavibhavi village, faced a similar predicament. Old age had dimmed her vision, which left her idle and dependent on family members for movement and personal care. When she, along with 165 other patients, underwent screening at the Eye Cataract Screening camps organised in association with the Suzlon Foundation, she was sent for cataract surgery at Lions Eye Hospital, Koppal, Karnataka. Post-treatment, she regained her vision and independence.
Education
Suzlons SUZTAIN model places education at its core, aiming to bridge gaps in access and opportunity by subsidising education. Efforts focus on enhancing physical infrastructure such as school furniture, RO filters for access to clean drinking water, fans, solar lighting, constructing and repairing school toilets, and building and enhancing play areas — and closing the digital divide through the setup of computer labs, the provision of refurbished computers, printers, and projectors, and digital literacy training. In FY25, 21,655 students and 2,965 Anganwadi children benefitted from these educational initiatives.
41,400+ Students
Benefitted through improved furniture and fixtures, digital equipment, and basic amenities
5,000+ Students
Accessed tech aids via Suzlons ‘Tech for Tomorrow initiative, which distributed 57 refurbished computers to government schools in 7 states
In addition to ongoing measures, Suzlon CSR sponsored the tuition fees of 90 students from economically disadvantaged households through grants and scholarships, ensuring uninterrupted education. This support freed up approximately Rs. 8.11 Lakh for their families combined, easing financial burdens, while advancing Suzlons education-focused goals.
- Enabling digital education and accelerating technology adoption in rural India: This initiative focused on providing digital e-learning units, computer donations, and establishing computer labs with training and support, benefitting 27,892 students, youth, and children. As a result, 22,649 students achieved better grades, and 3,829 students began using computers.
- Enhancing school infrastructure: This effort involved providing school benches, furniture, playground levelling, and other assets like printers and meal plates to 4,998 students. The key impacts included the provision of 230 assets, improved posture for 463 students, and safer playgrounds for 174 students.
- Enhancing student performance: Through various programmes such as school awareness, competitions, notebook distribution, and science kit distribution, this initiative supported 12,119 students and teachers.
Notable impacts include improved academic performance among 9,127 students, 1,334 students gaining improved knowledge about renewable energy, 16 competition winners, and 174 books being borrowed.
- Skill enhancement (chalk-making): This specific skillbuilding programme engaged 230 students in the activity of chalk-making, which led to the successful production of 3,200 chalks.
Smart Classrooms Open a Whole New World of Learning
In the remote villages of Rajasthan, a digital learning initiative by the Suzlon Foundation, in partnership with CECOEDECON, is bringing noticeable changes to classrooms. As part of the programme, 16 government schools have been equipped with 32- inch Smart TVs, benefiting 865 students. This shift from traditional blackboards to interactive digital content has enhanced classroom engagement. Teachers have also been trained to effectively use the new tools. As Ramesh, a teacher at one of the schools, shares, "Now, my students dont just listen — they see, understand, and enjoy learning. The Smart TV has changed everything."
Despite challenges such as poor internet connectivity, teachers use pen drives to load content in advance, ensuring continued access to lessons.
As a result, attendance and participation levels have improved, and learning has become more interactive.
A similar initiative in Salarapatti village, Tamil Nadu, has brought digital learning tools to Anganwadi centres with support from ADISIL. For children like Sudhiksa, whose parents are daily wage workers with limited resources, the introduction of visual and interactive content has made school more engaging. She now attends class regularly and participates actively.
Currently, 260 children across 12 villages are part of this Anganwadi digital learning programme, with plans to extend it to more villages. These efforts aim to improve early childhood education by making learning more accessible and engaging for children in rural communities.
Livelihoods
Improving rural incomes is one of the most effective ways to alleviate poverty and build self-reliant communities. Suzlon focuses on upskilling and livelihood generation to empower rural populations to shape their own futures. VDCs play a central role in identifying community needs and anchoring these initiatives.
In FY25, agro-based livelihoods formed the core of Suzlons interventions. Farmers received support through agricultural inputs such as seeds, training in fodder cultivation, market linkages, and educational programmes, including Kisan Pathshalas. Additional training covered goat rearing, marketing banana waste, green fodder cultivation, and millet seed support. Suzlon also continued to strengthen corpus funds, benefiting a wide range of villagers — from womens groups to entire VDCs. Capacity-building included exposure to traditional farming and food processing techniques.
In line with its inclusive development approach, Suzlon prioritised support for marginalised groups, including women, widows, and individuals with disabilities. Tailored assistance included vocational training and provision of tools such as solar-powered sewing machines, blacksmith blowers, and groundnut oil processing units, enabling beneficiaries to take steps toward economic independence.
Encouraging entrepreneurship within VDCs remains a key CSR goal. During the year, several VDCs and women-led self-help groups were trained in livelihood trades, provided with seed capital and equipment, and empowered to operate independently. These groups led training programmes on herb and flower cultivation, organic pulse marketing, palm-based product making, corn deseeding, green fodder cultivation, and agri-equipment maintenance
- Assistance provided to farmers and their families:
Suzlons comprehensive livelihood initiatives supported 2,169 farmer beneficiaries across multiple states through training in agro-based practices, crop and animal insurance, microfinance, and funding access. Additional support to farmers and their families included seed distribution, agriculture equipment centres, and livestock insurance, benefiting 14,109 animals. These efforts led to the production of 99,002 kg of manure, a yield increase of 107,900 kg, and a cumulative income rise of K 2.84 Lakh.
- Help provided to women, youth, potential entrepreneurs and persons with disabilities: This initiative extended livelihood support, training, and revolving funds to 744
women, 174 youth and individuals with disabilities, and 127 aspiring entrepreneurs. As a result, 155 entrepreneurs
established their own ventures, 2,500 kg of groundnuts were processed, and a significant income increase of K 39.18 Lakh was recorded.
- Enabling income generation activities for VDCs and SHGs: This initiative supported 7,223 villagers and VDC/
SHG members by providing revolving funds and promoting various income-generating activities such as ethnic food production, solar driers, and tailoring units. This support resulted in an income increase of K 12.55 Lakh for
the beneficiaries.
Kisan Pathshalas: New Learnings,
New Horizons
The journey of empowerment and independence begins with learning. This belief inspires the design of Suzlons livelihood interventions wherein different groups of villagers, such as women-led SHGs and farming communities, first undergo skill training and are then provided with startup support.
Every year, Suzlon Foundation is instrumental in hosting Kisan Pathshalas, where new ideas and developments in the field of agriculture are communicated to cultivators. One such Kisan Pathshala held in FY25 in Madhya Pradeshs Agar Malwa, transformed the lives of farmers there. Organised with the help of Arunodaya Sarveshwari Lok Kalyan Samiti, this Pathshala taught farmers the benefits of breeder seeds, soil nutrition, and scientific sowing, leading to 15-25% increases in yield. This has significantly improved the earnings of farmers who were previously practicing traditional agriculture.
The tale that Seetabai from Madhya Pradeshs Nagjhiri village tells, is very similar. As part of a group of five women trained in poultry farming by the Suzlon Foundation and Arunodaya Sarveshwari Lok Kalyan Samiti, Seetabai and her peers received 12 birds as start-up capital through a revolving fund, along with training in pricing and market access.
What began as a small-scale activity has now evolved into a reliable income stream. Seetabai now earns Rs. 400-500 per month from eggs, and Rs. 1,500-2,000 per cycle from selling chicks, marking a meaningful step towards financial independence.
Uniting the Traditional and the Modern, to Make Craft Marketable
In Indias rural communities, craft is often intricately linked with livelihoods.
Gujarats Dhareshi village was home to families of weavers, but the looms fell silent as villagers tried to make ends meet through agriculture. However, the regions drought-prone conditions made farming unreliable.
Suzlon Foundation stepped in to find a resolution. Tying up with Khamir — a not-for-profit platform that was dedicated to reviving artisanal traditions — women were trained in cotton and upcycled plastic weaving. This initiative helped revive traditional skills and restore the use of looms. The weaver families began to earn steady incomes, benefitting from Khamirs national and international marketing networks. Today, nearly 40 women have regained their weaving skills, helping to preserve their traditional craft.
Civic Amenities
Infrastructure forms the backbone of a nation, providing access to essential resources, employment, education, healthcare, and other vital services. Rural India has long struggled with underdevelopment due to inadequate infrastructure. In its own focused way, Suzlon has been contributing to the creation of village infrastructure that addresses critical gaps, enhances quality of life, and promotes community well-being. During the year, Suzlon undertook several initiatives to develop civic amenities and restore ageing assets — aligned with its objective of enabling local communities to develop their potential. Some of the most impactful interventions include:
- Safe drinking water access was enhanced through borewells, recharge structures, piped systems, water tanks, RO filtration units, motor pumps, and water harvesting systems, benefiting over 48,855 villagers and households.
- Village schools were equipped with RO systems, water tanks, and coolers, improving potable water access for over 1,993 students.
- Irrigation support was strengthened by laying agricultural pipelines and constructing or repairing check dams to improve water flow for farming.
- Clean energy solutions were introduced in public spaces such as hospitals, schools, and village roads through the installation of solar lights. Awareness drives encouraged household adoption of solar lighting, benefiting over 7,632 villagers and saving more than 720,171 hours of conventional electricity use.
- Sanitation infrastructure was enhanced through the construction of public toilets in schools and community spaces. Innovative approaches such as bio-toilets and the use of repurposed waste were adopted. Separate facilities for women were built, and old toilets were refurbished, impacting more than 1,790 villagers.
In addition to large-scale, long-term infrastructure initiatives, the Suzlon Foundation also addressed several immediate, localised needs. These included providing IT equipment such as computers and printers to gram panchayats, tehsil offices, and village police stations to improve public service delivery; supplying a public sound system; repairing school buildings and sheds; and organising regular fumigation in mosquito- prone areas, among other support measures.
- Community Amenities: Projects like high-mast lights, RO plants, road repairs, and water conservation benefited 48,855 villagers. Key outcomes: 1,135 families protected from mosquito-borne diseases, 82,927.5 cubic metres of water secured, and 43,200 hours of lighting enabled.
- Educational Infrastructure: Digital tools, water filters, toilet repairs, and sports kits supported 24,013 students and youth. Impacts included 3,427 cubic metres of drinking water, 6,344 students equipped, and 276 infrastructure assets delivered.
- Disability Support: Assistance reached 131 individuals, with 69 devices provided and 62 cases of tailored support.
- Waste-to-Wealth: Compost units, desks, swings benefited 2,106 people, while bird nests supported local biodiversity. A total of 1,049 kg of waste was repurposed into useful products.
In the Nand village, Rajasthan, Suzlon harnessed the regions abundant solar radiation through solar installations that have improved energy access in schools and healthcare facilities.
Zero Darkness: Fear Fades,
Normalcy Resumes in Dotihal
In Dotihal village of Kushtagi taluk, Karnataka, the lack of proper lighting created safety concerns after dark. Incidents such as drinking, gambling, theft, and disturbances near the village school had become common, raising concerns among residents and the school administration.
When the issue was brought to the attention of Suzlon Foundation, support was extended through its partner NGO, NEEDS. A high-mast light was installed in the school premises, illuminating a wide area and improving visibility and safety.
This intervention helped create a more secure environment for the community. Residents reported feeling safer, and normalcy returned to daily routines.
For the 680 students in the school, the improved environment provided a better learning space, and teachers were able to carry out their work with fewer disruptions.
A Sound System and How it Helped in Managing Adversity
"We can now hear before the water comes," says Hitesh Bhai of Gujarats Balambha village, who has witnessed the chaos and destruction that floods can cause. As climate change intensifies, monsoon deluges and the floods they trigger have become increasingly unpredictable. Acknowledging the uncertainty and fear this brings, Suzlon Foundation, in partnership with JVNT, installed a village-wide public announcement system. This allows timely alerts about rising waters from cloudbursts or overflowing rivers, enabling over 4,000 villagers to act swiftly and move their families and belongings to safety.
Employee Volunteering and Giving
As a clean energy enterprise, Suzlon embeds responsibility and social commitment into its core values. This ethos extends beyond operations to include employee engagement. Recognised as a key pillar of the SUZTAIN model, employee participation is central to Suzlons CSR vision. Each year, employees contribute time, skills, and resources to the causes the company supports.
During the year, 10,534 volunteers — including 7,164 Suzlon employees and 3,370 contract staff — participated in CSR initiatives, contributing a total of 71,667 person-hours (51,852 from employees and 19,815 from contract staff). Additionally, 951 employees made 2,025 voluntary donations amounting to f 40.75 lakh in support of social and environmental causes.
Additionally, 564 employees from 33 business teams, 12 team members from 9 vendor organisations, and 2 customer teams contributed directly at intervention sites, collectively donating over f 71.35 Lakh.
Special Events
Each year, several CSR-themed events are organised at Suzlons One Earth campus in Pune during festivals such as Navratri, Diwali, and Holi. Employees actively support these initiatives, purchasing NGO-curated products that benefit the underprivileged, women, and persons with disabilities. This year, f 89,150 was raised through the participation of 237 employees.
Pan-India activities were also conducted to mark World Environment Day, celebrated with enthusiasm and strong involvement. A standout initiative was the planting of 7,000 seedballs by 132 students, 3 employees, and local departments to rewild sparsely vegetated areas. Seedballs — compact mixtures of clay, compost, and seeds — offer a simple yet powerful tool for ecological restoration.
Ongoing activities included a cloth bag promotion drive and the Suz-hooks assembly challenge. These initiatives amplified the message of environmental protection and waste segregation. Suz-hooks, an innovative, low-cost solution for segregating plastic waste in rural areas, were assembled voluntarily by employees and their families. Over the year, 5,615 cloth bags and Rs. 40,808 were donated, with contributions from 2,167 employees and 114 family members. Additionally, 5,612 Suz- hooks were assembled and distributed.
Disaster Relief
- Indias geographic diversity makes it especially vulnerable to climate change and extreme weather. In the past year alone, natural disasters caused estimated losses of Rs. 1 Lakh Crore. In response, Suzlon Foundation once again demonstrated that every effort matters, stepping in to support those who lost everything in natures wake. When heavy rainfall hit the usually drought-prone villages of Bhogat and Gandhavi in Gujarats Saurashtra region, Suzlon Foundation provided 30 grocery kits—24 in Gandhavi (benefiting 107 people)
and 6 in Bhogat (supporting 27 people). Each kit included essentials such as oil, chickpeas, moong dal, rice, wheat flour, and salt, sufficient for approximately 12 days.
- Following Cyclone Fengal, which brought unseasonal rainfall and severe flooding to Puducherry and coastal Tamil Nadu in Nov-Dec 2024, Suzlon Foundation contributed Rs. 3 Lakh, raised through employee donations, towards relief efforts.
- In July 2024, Wayanad, Kerala, was hit by a landslide. Suzlon Foundation partnered with EFICOR to provide Rs. 3 Lakh (raised through employee donations) to support 11 vulnerable individuals in Mundakai, Chooralmala, and Attamala. The aid helped them replace damaged tools, restore livelihoods, and regain financial stability.
Diversity of Vision, Immensity of Impact
Suzlon takes immense pride in the breadth of its engagement and the countless lives touched through its efforts. Whether building rural civic infrastructure, bridging the digital divide, offering support during national emergencies, or preserving native flora and fauna, Suzlon seamlessly blends grassroots needs with large-scale rural transformation. Its purposeful, well-structured approach addresses not only resource- driven gaps but also deep-rooted social and gender biases. As a clean energy leader, Suzlon embodies its values through action, empowered further by employees who actively champion participatory change.
Suzlons ESG Journey:
Sustainable by Design, Driven by Purpose
Suzlon began with a bold vision: to make clean energy accessible and transform Indias renewable energy landscape, accelerating Indias decarbonisation journey. From its inception, sustainability has always been foundation deeply embedded in core operations. Every turbine, innovation, and initiative has been driven by the core belief that economic growth must align with environmental stewardship.
For three decades, Suzlon has remained rooted in its purpose of combating climate change with clean, affordable, and accessible energy, and its business model reflects the Companys ESG commitments, centred on 360-degree impact on environment and society. Suzlons sustainability journey is a testament to its principles in action, from wind-powered innovation and climate leadership to community upliftment and responsible governance. Suzlons ESG journey reflects more than just wind turbine manufacturing; it embodies a commitment to building trust, fostering resilience, and advancing a more inclusive and equitable future.
Suzlon is advancing a precedent of responsible, sustainable business practices and innovation as the foundation of a greener future. Committed to measurable and accountable sustainability goals, it continuously monitors key ESG KPIs
against defined short-term (FY24-26), mid-term (FY26-30), and long-term (FY30 onwards) roadmaps.
Suzlon has established a dedicated ESG governance structure aligned with all 17 UN Sustainable Development Goals (SDGs) and global frameworks, such as GRI, TCFD, SASB, UN SDG, UNEP, IFRS S1 and S2, TNFD, WEF-ESG Indicators, embedding sustainability into its core strategy under the banner of ‘ResGen (Responsible Generation).
Suzlons commitment to transparent disclosures is a key step towards including all stakeholders in navigating Suzlons ESG strategies, frameworks, goals, disclosures, and real-world impact, demonstrating how the Company is contributing to a just energy transition through responsible growth.
The Companys ESG Policies are compliant with respective principles of NGRBC, and aligned with ILO, UNGC, OHSAS, SDGs, GRI Standards, SASB, IFC Performance Standards, IE 61400: Wind Turbine Standards, World Economic Forum, UDHR, TCFD, TNFD, UNFCC, GHG Protocol, Kunming-Montreal Global Biodiversity Framework, the Convention on Biological Diversity ISOs etc. wherever applicable e.g., ISO 9001 (for Quality Management System), ISO 14001: 2015 (for Environmental Management System), ISO 45001 for Health & Safety Management System.
Resource Optimisation
Suzlon remains focused on optimising resource consumption across all stages of manufacturing. As part of this effort, the S144 (3.x MW model) Wind Turbine Generator (WTG) design has been enhanced to reduce steel usage, thereby minimising resource intensity and product carbon footprint across the cradle-to-grave lifecycle. The S144 model, standing at 16.8 m, features a tubular section of 13.5 m and an adaptor flange of 3.3 m, with a steel consumption of only 38.984 MT per
tubular tower section — significantly lower than the 103.821 MT consumed in conventional Suzlon turbines. Additionally, the use of 225 kg of steel scrap per tower in the manufacturing of steel plate towers helps reduce reliance on virgin steel, reinforcing resource optimisation at source and lowering environmental impacts across the product lifecycle.
Zero Liquid Discharge
33,901 kL of water across manufacturing operations under Suzlon Energy Limited (SEL) and SE Forge were treated, recycled, and reused for non-process applications such as gardening and flushing. While water is not directly used in Suzlons core manufacturing processes, all plants are equipped with Zero Liquid Discharge (ZLD) systems to ensure closed-loop water management within plant boundaries.
^ Product Sustainability
Suzlon has successfully completed the Product Carbon Footprint (PCF) certification and third-party verification for its S120 and S144 Wind Turbine Generator (WTG) models. Additionally, product stewardship was also adopted for castings manufactured by SE Forge.
The S144 3 MW series has achieved Lowest Carbon Certification within the cradle-to-grave lifecycle boundary, with a verified Product Carbon Footprint (PCF) of 6.17 gCO2e/
kWh of electricity generation. This exceptionally low figure, measured across all lifecycle stages in accordance with CFP ISO 14067 and LCA ISO 14040/14044, also complies with ISO 14021:2016 and Amd 1:2021, which govern the accuracy and transparency of environmental claims. The S144s PCF is significantly lower than both the global benchmark of 7 gCO2e/ kWh and Suzlons earlier turbine models, which recorded 8.83 gCO2e/kWh.
The S144 model also demonstrates resource optimisation. Its tubular tower uses just 38.98 MT of steel across a combined height of 16.8 metres (13.5 m tubular section and 3.3 m adaptor flange), compared to 103.82 MT used in Suzlons previous designs. Additionally, the inclusion of 225 kg of scrap steel per tower reduces reliance on newly procured material. The local sourcing stands at 83.25% for Tier-1 critical suppliers within India, while low-emission steel (less than 2.2 tCO2e/t) is prioritised to further reduce embodied carbon. In manufacturing, Suzlon used 14,383.69 GJ of renewable electricity during FY24.
Another key advancement lies in the extended operational life of the S144 turbine, which now stands at 25 years, up from 20 years in previous models. This extension, based on the revised design, has been validated through independent third-party review. Together, these efforts reflect Suzlons commitment to responsible manufacturing, credible sustainability disclosures, and advancing a low-carbon future.
Suzlon has met its 2026 product sustainability targets ahead of schedule, including carbon footprint goals for its WTGs and castings. Life Cycle Assessments have also been completed for the S120 and S144 models.
Sustainable Supply Chain
Suzlon has assessed 91.1% of its Tier-1 critical suppliers for ESG, commodity, and geographical risks using BRSR Core and 7-pillar ESG framework based on standards such as BRSR, GRI, SDGs, ISO 45001, ILO, SASB, and Suzlons supplier requirements. The Company prioritises local sourcing, invests in supplier capacity building, and integrates ESG evaluations to align its supply chain with core values. In FY25, targeted sustainability training was provided to suppliers to support value chain decarbonisation.
A member of the UN Global Compact, Suzlon was recognised with the UNGC Faster Award for Sustainable Supply Chain.
Use of Renewables
Suzlon has adopted RE100 target, aiming to transition to 100% renewable energy by 2030. Its RBU Dhule facility already sources 100% green energy from the DISCOM. Additionally, renewable energy generated from Suzlons own wind turbines powers the Corporate Headquarters in Pune, RBU Bhuj, and the transformer unit in Gandhidham. The Daman manufacturing plant also features a 48 kWp solar PV installation.
Eco-design
Products are built with lifecycle thinking: focusing on recyclability, efficiency, and resource optimisation
Water Conservation
Initiatives across manufacturing units ensure minimal water usage and promote zero-discharge policies
Waste Management
Pushing for a circular economy through reusing components and reducing landfill waste
Restoring green cover and protecting native species around installation zones
Suzlons ESG Ratings
Suzlons commitment to sustainability, transparency, and ethical governance has driven a notable uplift in its ESG ratings, reinforcing its leadership in responsible business practices. The Company is now ranked 2nd in the Electrical Equipment Industry by Sustainalytics. Furthermore, its ESG ratings have improved in S&P, Crisil, and EcoVadis.
Suzlon is currently poised to accelerate its green ambitions with sustainability-linked financing, deeper stakeholder engagement, and enhanced data transparency.
Awards and Accolades
Suzlon has been recognised for sustainability excellence across the organisation, its products, and supply chain, which reflects its unwavering commitment to innovation, responsibility, and tangible impact. Suzlon has earned prestigious sustainability awards, reinforcing its position as a pioneer in renewable energy and responsible leadership.
These accolades mark key milestones in its mission to transform lives, protect the planet, and build a cleaner future. They also serve as a powerful reminder to continue envisioning greater goals, taking decisive action, and consistently pushing the frontiers of sustainable innovation. Its steadfast commitment to sustainability, transparency, and ethical governance has driven meaningful progress and strengthened its longterm impact.
The Road Ahead: Suzlons Commitment to a Sustainable Tomorrow
Suzlons legacy in renewable energy is already inspiring, but the future holds even greater promise. As climate challenges intensify and the world transitions to net zero, Suzlon is ready to lead with innovation, integrity, and impact. The next chapter is powered by advanced wind technologies, and digital energy solutions. The Company is positioned to stay ahead of the curve by aligning with global frameworks like SDGs, TCFD, IFRS, GRI, and SASB, deepening stakeholder engagement through transparent reporting and by driving sustainability- linked finance and ethical business practices.
As part of its strategic ambition, Suzlon is prepared to work towards deepening circularity and resource stewardship through resource optimisation, reduction of waste at source itself aligned with circularity principles, strengthening sustainable sourcing and eco-design principles, and working towards carbon-neutral operations.
People and community remain at the heart of Suzlons purpose. The road ahead prioritises broader inclusion in clean energy jobs and upskilling programmes, enhanced partnerships for local climate resilience, and enabling rural transformation through energy access and education.
From Audited Consolidated Financial Statements:
Balance Sheet:
A. Assets
1. Property, plant, and equipment, investment properties and intangible assets*
| Particulars | March 31,2025 | March 31, 2024 |
| Property, plant, and equipment | 736 | 722 |
| Right-of-use assets | 86 | 87 |
| Capital work-in-progress | 89 | 16 |
| Investment properties | 26 | 27 |
| Goodwill | 480 | - |
| Intangible assets | 452 | 50 |
| Intangible assets under development | 16 | 4 |
| Total | 1,885 | 906 |
*Net of depreciation, amortisation, and impairment.
a. During the year, property, plant and equipment of Rs. 188 Crore and intangible assets of Rs. 57 Crore were capitalised as compared to Rs. 152 Crore and Rs. 40 Crore, respectively, in the previous year.
b. Right-of-use assets (ROU) are assets taken on lease. There is no material movement during the year.
c. Capital work-in-progress is primarily towards factory buildings under construction and plant and equipment under installation. Most of these are related to manufacturing facilities spread across various states.
d. Investment properties consist of certain office premises given on lease. There is no material movement during the year.
e. I ntangible assets, primarily comprising of intellectual property rights (‘IPR) related to Wind Technology and Enterprise Solutions, increased to Rs. 86 Crore from Rs. 50 Crore. This increased emphasis on modernising existing systems and advancing digital transformation initiatives.
f. Intangible assets under development primarily includes development cost of Enterprise Solutions and IPRs (design and drawings) by the in-house Technology Centres.
g. During the year, the Group recorded net additions of Rs. 11 Crore to property, plant, and equipment, Rs. 480 Crore to Goodwill, and Rs. 366 Crore to intangible assets, all of these attributable to the acquisition of Renom Energy Services Private Limited. For further details, refer to Note 48.1 of the consolidated financial statements.
2. Financial assets
| Non-current | Current | Total | ||||
| Particulars | March 31, 2025 | March 31, 2024 | March 31, 2025 | March 31,2024 | March 31, 2025 | March 31,2024 |
| Investments | 0" | 0" | 43 | 8 | 43 | 8 |
| Trade receivables | - | - | 3,866 | 1,830 | 3,866 | 1,830 |
| Cash and bank balances | 1,071 | 831 | 1,113 | 427 | 2,184 | 1,258 |
| Loans | - | - | 0" | 0" | 0" | 0" |
| Other financial assets | 33 | 72 | 188 | 135 | 221 | 207 |
| Total | 1,104 | 903 | 5,210 | 2,400 | 6,314 | 3,303 |
"Less than Crore.
Financial assets significantly increased to Rs. 6,314 Crore from Rs. 3,303 Crore in the previous year, a growth of Rs. 3,011 Crore. This
increase is primarily due to:
a. Trade receivables grew by Rs. 2,037 Crore, driven by higher sales volume of WTG business during the year. Trade receivables of OMS business remain fairly constant;
b. Bank balances and investments rose by Rs. 926 Crore and Rs. 35 Crore respectively, supported by a robust order book and positive operating cashflows. The non-current bank balance is under lien with the lenders mainly for the purpose of availing non-fund-based facilities;
c. Other financial assets increased by Rs. 14 Crore and is mainly on account of interest accrual on fixed deposits.
3. Non-financial assets
| Non-current | Current | Total | ||||
| Particulars | March 31,2025 | March 31,2024 | March 31,2025 | March 31,2024 | March 31, 2025 | March 31,2024 |
| Inventories | - | - | 3,234 | 2,292 | 3,234 | 2,292 |
| Other assets | 75 | 78 | 757 | 595 | 832 | 673 |
| Current tax asset, net | - | - | 50 | 1 | 50 | 1 |
| Deferred tax assets | 645 | 4 | - | - | 645 | 4 |
| Total | 720 | 82 | 4,041 | 2,888 | 4,761 | 2,970 |
Non-financial assets significantly increased to Rs. 4,761 Crore from Rs. 2,970 Crore in the previous year, a growth of Rs. 1,791 Crore. This increase is primarily driven by:
a. Inventories grew by Rs. 941 Crore, to cater higher planned volumes in the WTG business next year;
b. Other assets comprise of advances to vendors, prepaid expenses and balances with statutory authorities it increased by Rs. 159 Crore, supporting operational readiness.
c. The Group has recognised Rs. 645 Crore as deferred tax asset based on reasonable certainty of the future performance. This includes deferred tax assets on unabsorbed depreciation and certain brought forward business loss of the Company. Deferred tax assets on remaining business losses in the Company and in the domestic subsidiaries are yet to be recognised.
B. Equity and liabilities
1. Equity share capital
| Particulars | March 31,2025 | March 31, 2024 |
| Authorised share capital | 21,053 | 11,000 |
| Issued share capital | 2,735 | 2,726 |
| Paid-up share capital | 2,732 | 2,722 |
a. During the year, the Companys authorised share capital has increased following the completion of merger of a material subsidiary into the parent, as detailed in Note 48.3 of the consolidated financial statements. The increase was effected subsequent to securing requisite regulatory approvals.
b. Paid-up share capital stands at Rs. 2,732 Crore as compared to Rs. 2,722 Crore in the previous year. The increase is on account of issuance of equity shares to employees under Employee Stock Option Scheme. There has been no other fund-raising exercise during the year.
2. Other equity
| Particulars | March 31,2025 | March 31, 2024 |
| Capital reserve | 23 | 23 |
| Capital reserve on consolidation | 0" | 0" |
| Capital redemption reserve | 15 | 15 |
| Legal and statutory reserve | 1 | 1 |
| General reserve | 917 | 917 |
| Securities premium | 12,499 | 12,466 |
| Capital contribution | 6,505 | 6,505 |
| Share application money, pending allotment | 0" | - |
| Share options outstanding account | 123 | 29 |
| Retained earnings | (16,135) | (18,213) |
| Foreign currency translation reserve | (575) | (545) |
| Total | 3,374 | 1,199 |
"Less than J 1 Crore
a. Increase in securities premium is on account of issuance of shares to employees under Employee Stock Option Scheme.
b. The change in FCTR is due to exchange fluctuation resulting from translation of the financial statements of overseas subsidiaries into reporting currency of the parent company i.e. Rs..
c. The Board of the Company has approved the Scheme of Arrangement, which provides for reduction and reorganisation of the reserves of the Company on October 28, 2024. The Scheme has been approved by SEBI and has been filed with NCLT for its approval, both during July 2025. On implementation, this Scheme is likely to result into rationalisation of various captions under the head of ‘Other Equity.
3. Financial liabilities
i. Borrowings
| Non-current | Current | Total | ||||
| Particulars | March 31, 2025 | March 31, 2024 | March 31, 2025 | March 31,2024 | March 31, 2025 | March 31,2024 |
| Secured | 129 | 50 | 114 | 40 | 243 | 90 |
| Unsecured | - | - | 18 | - | 18 | - |
| Total | 129 | 50 | 132 | 40 | 261 | 90 |
| Current maturities of long-term borrowings | - | - | 22 | 20 | 22 | 20 |
| Grand total | 129 | 50 | 154 | 60 | 283 | 110 |
Total borrowings stood at Rs. 283 Crore from Rs. 110 Crore in the previous year, with an increase of Rs. 173 Crore, of which:
a. Rs. 133 Crore pertains to borrowings of Renom, the newly acquired subsidiary and
b. Rs. 40 Crore relates to net increase in term loan facilities from banks/financial institutions in SE Forge Ltd.
c. There are no borrowings, except non-fund based for the purpose of WTG and OMS business this year as well.
ii. Other financial liabilities
| Non-current | Current | Total | ||||
| Particulars | March 31,2025 | March 31,2024 | March 31,2025 | March 31,2024 | March 31, 2025 | March 31,2024 |
| Trade payables | - | - | 2,935 | 1,796 | 2,935 | 1,796 |
| Lease liabilities | 25 | 16 | 15 | 24 | 40 | 40 |
| Other financial liabilities | 630 | 18 | 399 | 165 | 1,029 | 183 |
| Total | 655 | 34 | 3,349 | 1,985 | 4,004 | 2,019 |
Other financial liabilities significantly increased to Rs. 4,004 Crore from Rs. 2,019 Crore in the previous year, a rise of Rs. 1,985 Crore.
This increase is primarily driven by:
a. Trade payables, which grew by Rs. 1,139 Crore as a result of higher procurement volumes in the last quarter of the financial year as the Company embarked upon building up inventory for forthcoming quarter apart from posting good volumes in the last quarter. The Group has become regular within stipulated payment terms.
b. Other financial liabilities grew by net Rs. 846 Crore. This movement comprises of:
- a deferred consideration of Rs. 480 Crore payable in connection with the acquisition of Renom, as detailed in Note 48.1 to the consolidated financial statements, and a liability of Rs. 417 Crore recognised under a financing arrangement related to sale and lease back of the One Earth office property as disclosed in Note 48.2 of the consolidated financial statements. The acquisition of Renom represents strategic measures undertaken to strengthen the Companys position in the OMS business. Additionally, the sale-and-leaseback of the One Earth property was implemented to manage the Groups debt levels effectively. These measures aim to support business growth, enhance liquidity, and maximise asset efficiency, all while ensuring operational continuity and avoiding additional debt burdens.
- a reduction of Rs. 51 Crore in other financial liabilities is attributable to settlement of customer claims, employee-related payables, and the refund of customer deposits.
4. Other liabilities and provisions
| Non-current | Current | Total | ||||
| Particulars | March 31, 2025 | March 31,2024 | March 31,2025 | March 31, 2024 | March 31, 2025 | March 31, 2024 |
| Contract liabilities | - | - | 1,744 | 346 | 1,744 | 346 |
| Other liabilities | 0A | 0A | 96 | 64 | 96 | 64 |
| Provisions | 155 | 165 | 564 | 552 | 719 | 717 |
| Current tax liabilities, net | - | - | 8 | 2 | 8 | 2 |
| Total | 155 | 165 | 2,412 | 964 | 2,567 | 1,129 |
ALess than Rs. 1 Crore
a. Contract liabilities increased substantially to Rs. 1,744 Crore from Rs. 346 Crore in the previous year, driven by a significant inflow of new orders resulting in advance payments from customers against the confirmed orders. This reflects a robust order book and growing customer confidence in the Companys execution capabilities. Additionally, milestone-based billing contributed to the increase, as revenue recognition is deferred until the corresponding performance obligations are fulfilled.
b. Other liabilities increased to Rs. 96 Crore from Rs. 64 Crore in the previous year, an increase of Rs. 31 Crore. The increase is primarily on account of higher obligations under various taxes as a result of increased business activity.
C. Cashflow
- Cash and cash equivalents increased to Rs. 1,113 Crore from Rs. 427 Crore in the previous year, an increase of Rs. 686 Crore.
- Operating activities: Operating profit before working capital changes is Rs. 1,984 Crore as compared to Rs. 1,161 Crore in previous year. Net cash generated during the year is Rs. 1,092 Crore as compared to Rs. 80 Crore in previous year.
- Investing activities: Net cash outflow on investing activities is Rs. 752 Crore as compared to Rs. 152 Crore in previous year. The outflow of Rs. 441 Crore is towards consideration paid on acquisition of Renom and Rs. 371 Crore is on account of creation of capex including the intangible assets like IPR. There has been net inflow on account of interest income, rent income, and mutual funds amounting to Rs. 60 Crore.
- Financing activities: Net cash generated from financing activities during the year is Rs. 343 Crore as compared to Rs. 132 Crore in previous year. Net inflow from transaction related to One Earth premises stood at Rs. 381 Crore, from shares issued under ESOP Scheme stood at Rs. 22 Crore, from borrowings in subsidiaries stood at Rs. 38 Crore. Outflow towards payment of principal portion of lease liabilities, interest and other borrowing cost stood at Rs. 99 Crore.
D. Operating results
| Particulars | March 31, 2025 | March 31, 2024 |
| Revenue from operations | 10,851 | 6,497 |
| Other operating income | 38 | 32 |
| Finance income | 103 | 38 |
| Total income | 10,993 | 6,567 |
| Cost of goods sold | 6,887 | 3,982 |
| Employee benefits expense | 941 | 703 |
| Finance costs | 255 | 164 |
| Depreciation and amortisation expense | 259 | 190 |
| Other expenses | 1,204 | 815 |
| Total expenses | 9,546 | 5,854 |
| Profit before exceptional items and tax | 1,447 | 713 |
| Exceptional loss/ (gain) | - | 54 |
| Tax expense | (625) | (1) |
| Share of profit/ (loss) of joint venture | - | - |
| Net profit for the year | 2,072 | 660 |
Principal components of results of operations
1. Revenue from operations
The Groups revenue increased by 67.0% to Rs. 10,851 Crore from Rs. 6,497 Crore in the previous year. This substantial growth was driven by strong momentum in Indias renewable energy sector and the successful scale-up of WTG operations to meet a robust order book. The OMS business continued to perform steadily, maintaining its modest growth trajectory.
2. Finance income
Finance income substantially increased to Rs. 103 Crore from Rs. 38 Crore in previous year. This growth is primarily driven by higher interest earnings from fixed deposits and interest received on tax refunds.
3. Cost of goods sold (‘COGS)
COGS as a percentage to revenue from operations increased to 63.5% from 61.3% in the previous year. This rise in ratio is primarily attributable to sales mix with a higher proportion of revenue generated from WTG business. The absolute increase in COGS reflects the growth in sales volume of WTG business. The Group continues to pursue strategic sourcing initiatives and enhance operational efficiencies across the supply chain, with a focus on securing more favourable payment terms.
4. Employee benefits expense
Employee benefits expense increased by 33.9% to Rs. 941 Crore from Rs. 703 Crore in the previous year. This rise is primarily attributable to increase in headcount to strengthen organisational capabilities, annual increments including performance-linked incentives, and the acquisition of Renom. Additionally, the ESOP charge, being non-cash in nature, rose by Rs. 86 Crore over the previous year. Suzlon continues to invest in building a robust workforce to support higher operational volumes and capitalise on emerging opportunities in the renewable energy sector.
5. Finance costs
Finance costs increased to Rs. 255 Crore as compared to Rs. 164 Crore in the previous year, with bank charges contributing Rs. 149 Crore as compared to Rs. 59 Crore in the previous year. This rise is attributable to cost associated with the availment of new nonfund-based facilities, aligned with Groups volume growth and expansion of business operations.
6. Depreciation and amortisation expense
Depreciation and amortisation expense increased to Rs. 259 Crore as compared to Rs. 190 Crore in the previous year. This rise of Rs. 69 Crore is primarily attributable to capital investments in manufacturing facilities and IPR related to new WTG model, as well as amortisation of intangible assets recognised through purchase price allocation as a result of acquisition of Renom.
7. Other expenses
Other expenses increased to Rs. 1,204 Crore from Rs. 815 Crore in the previous year. The rise in expenses is primarily on account of increased volume and towards consultancy costs related to certain high impact projects undertaken during the current year to achieve process and system enhancements and productivity improvement.
8. Profit
The consolidated EBITDA reached Rs. 1,857 Crore and EBIT reached Rs. 1,598 Crore, posting a substantial growth of 80.5% and 90.4% over the previous year. This remarkable performance was driven by higher volumes and robust performance of all business segments.
Net profit after tax stands at Rs. 2,072 Crore as compared to Rs. 660 Crore in the previous year on account of strong volume growth. Of this, Rs. 639 Crore pertains to recognition of deferred tax assets, following the establishment of reasonable certainty regarding future profitability, enabling the set-off of previously incurred losses.
E. Key financial ratios
| Particulars | March 31,2025 | March 31, 2024 | Change (%) | Favorable/ Unfavorable |
| Debtors turnover ratio(1) | 3.81 | 4.33 | (12) | Unfavorable |
| Inventory turnover ratio(1) | 3.93 | 3.15 | 25 | Favorable |
| Interest coverage ratio(2) | 15.12 | 7.94 | 90 | Favorable |
| Current ratio(1) | 1.56 | 1.76 | (11) | Unfavorable |
| Debt-equity ratio(2) | 0.05 | 0.03 | (65) | Unfavorable |
| Operating profit margin (%)(1) | 17.12 | 15.84 | 8 | Favorable |
| Net profit margin (before exceptional) (%)(3) | 19.09 | 10.99 | 74 | Favorable |
| Return on net worth (%)(3) | 33.93 | 16.84 | 101 | Favorable |
(1) There is no significant change (i.e. change of more than 25% as compared to the immediately previous financial year) in the key financial ratio.
(2) During the year, secured borrowings have come down substantially resulting into reduction in finance cost.
(3) The improvement in ratios is primarily driven by higher business volumes and enhanced operational efficiencies, resulting in increased gross margins, net profits, and liquidity, which collectively strengthened the Groups net worth. During the year, the Company also recognised deferred tax asset due to which there is increase in net profit leading to increase in ratios.
Detailed explanation of ratios
1. Debtors turnover ratio
The above ratio is used to quantify a Companys effectiveness in collecting its receivables or money owed by customers. It is calculated by dividing turnover by average trade receivables.
2. Inventory turnover ratio
Inventory turnover is the number of times a Company sells and replaces its inventory during a period. It is calculated by dividing sales by average inventory.
3. Interest coverage ratio
The interest coverage ratio measures how many times a Company can cover its current interest payment with its available earnings. It is calculated by dividing earnings before interest and tax (‘EBIT) by interest cost.
4. Current ratio
The current ratio is a liquidity ratio that measures a Companys ability to pay short-term obligations or those due within one year. It is calculated by dividing the current assets by current liabilities.
5. Debt-equity ratio
The ratio is used to evaluate a Companys financial leverage. It is a measure of the degree to which a Company is financing its operations through debt versus wholly owned funds. It is calculated by dividing a Companys total debt by its shareholders equity.
6. Operating profit margin
Operating profit margin is a profitability ratio used to calculate the percentage of profit a Company generates from its operations. It is calculated by dividing the EBITDA by turnover.
7. Net profit margin
The net profit margin is equal to how much net profit is generated as a percentage of revenue. It is calculated by dividing the net profit for the year by turnover.
8. Return on net worth
It is a measure of profitability expressed in percentage. It is calculated by dividing the net profit for the year by shareholders equity.
Cautionary Statement
Suzlon Group has included statements in this discussion, that contain words or phrases such as ‘will, ‘aim, ‘likely result, ‘believe, ‘expect, ‘will continue, ‘anticipate, ‘estimate, ‘intend, ‘plan, ‘contemplate, ‘seek to, ‘future, ‘objective, ‘goal, ‘project, ‘should, ‘will pursue and similar expressions or variations of such expressions that are ‘forward-looking statements.
All forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement. Important factors that could cause actual results to differ materially from the Suzlon Groups expectations include:
- Variation in the demand for electricity;
- Changes in the cost of generating electricity from wind energy and changes in wind patterns;
- Changes in or termination of policies of state governments in India that encourage investment in power projects;
- General economic and business conditions in India and other countries;
- Suzlons ability to successfully implement its strategy, growth, and expansion plans and technological initiatives;
- Changes in the value of the Rs. and other currencies;
- Potential mergers, acquisitions or restructurings, and increased competition;
- Changes in laws and regulations;
- Changes in political conditions;
- Changes in the foreign exchange control regulations;
- Changes in the laws and regulations that apply to the wind energy industry, including tax laws
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