1. Rs. 1,800 crs Equity Infusion to accelerate growth
2. Suzlon delivers positive EBITDA for the 4th consecutive quarter
3. EBITDA Margin increases to 6.0% from (2.7%) YoY, on flat revenues of Rs. 4,954 crs
4. EBITDA increases to Rs. 295 crs from Rs. (137) crs YoY
5. Mr Tulsi Tanti, Chairman – Suzlon Group, said: “All the strategic initiatives are extremely crucial and will pave the way for our growth. These bold steps will strengthen our capital structure permanently, enabling significant deleveraging and liquidity to ramp up volumes rapidly. With our market leadership, technology strength, successful project execution and best in class service, Suzlon is best placed to capitalize on the opportunities offered by the renewable sector. We are convinced that the support from Dilipbhai Shanghvi and Family will help in creating a long term sustainable value for our stakeholders.
SBI Magnum Equity Fund: An Open-ended Equity Scheme - March 17SBI Mutual Fund
SBI Magnum Equity Fund is an equity scheme that seeks capital appreciation through investment in diversified portfolio of equities of high growth companies, along with liquidity of an open ended scheme. To know more about this mutual fund check the SBI Mutual Fund Page
https://www.sbimf.com/en-us/equity-schemes/sbi-magnum-equity-fund
We at JM financial provides m&a advisory on corporate mergers, acquisitions and divestitures as well as debt and equity financing. To explore more about our financial services, click on our website jmfl.com
SBI Magnum Equity Fund: An Open-ended Equity Scheme - Jan 17SBI Mutual Fund
SBI Magnum Equity Fund is an equity scheme that seeks capital appreciation through investment in diversified portfolio of equities of high growth companies, along with liquidity of an open ended scheme. To know more about this mutual fund check the SBI Mutual Fund Page
https://www.sbimf.com/en-us/equity-schemes/sbi-magnum-equity-fund
Q3FY15 Recommendation: Maintain hold on Alembic PharmaIndiaNotes.com
For the quarter, Alembic Pharma reported muted sales growth of 4.6% yoy to Rs 497 cr, below than the street expectations of Rs 561cr on account of (1) discontinuation of low margin products in international markets (2) Failure to gain expected market share in newly launched products (3) Price erosion due to higher competition in existing products (4) Lower growth in domestic portfolio because of high base effect in Q3FY14. However, it still could manage to sustain its healthy EBITDA margins at 21.2% as compared to 19.8% in Q2FY15/21.7% in Q3FY14. The management has reiterated its earlier guidance of 100-125 bps improvement in margins for next 3-4 years to take the margins to 23-24% levels. Alembic Pharma is awaiting its USFDA inspection this year for both its formulations as well as API facilities.
JMFL is one of the leading asset reconstruction company. Our aim is to manage and to make profit to those assets which have been underperforming or become formally classified as NPA’s. To know how to generate sufficient revenue, do visit our website. Know more - https://www.jmfl.com/what-we-do/fund-based-activities/asset-reconstruction
SBI Magnum Equity Fund: An Open-ended Equity Scheme - March 17SBI Mutual Fund
SBI Magnum Equity Fund is an equity scheme that seeks capital appreciation through investment in diversified portfolio of equities of high growth companies, along with liquidity of an open ended scheme. To know more about this mutual fund check the SBI Mutual Fund Page
https://www.sbimf.com/en-us/equity-schemes/sbi-magnum-equity-fund
We at JM financial provides m&a advisory on corporate mergers, acquisitions and divestitures as well as debt and equity financing. To explore more about our financial services, click on our website jmfl.com
SBI Magnum Equity Fund: An Open-ended Equity Scheme - Jan 17SBI Mutual Fund
SBI Magnum Equity Fund is an equity scheme that seeks capital appreciation through investment in diversified portfolio of equities of high growth companies, along with liquidity of an open ended scheme. To know more about this mutual fund check the SBI Mutual Fund Page
https://www.sbimf.com/en-us/equity-schemes/sbi-magnum-equity-fund
Q3FY15 Recommendation: Maintain hold on Alembic PharmaIndiaNotes.com
For the quarter, Alembic Pharma reported muted sales growth of 4.6% yoy to Rs 497 cr, below than the street expectations of Rs 561cr on account of (1) discontinuation of low margin products in international markets (2) Failure to gain expected market share in newly launched products (3) Price erosion due to higher competition in existing products (4) Lower growth in domestic portfolio because of high base effect in Q3FY14. However, it still could manage to sustain its healthy EBITDA margins at 21.2% as compared to 19.8% in Q2FY15/21.7% in Q3FY14. The management has reiterated its earlier guidance of 100-125 bps improvement in margins for next 3-4 years to take the margins to 23-24% levels. Alembic Pharma is awaiting its USFDA inspection this year for both its formulations as well as API facilities.
JMFL is one of the leading asset reconstruction company. Our aim is to manage and to make profit to those assets which have been underperforming or become formally classified as NPA’s. To know how to generate sufficient revenue, do visit our website. Know more - https://www.jmfl.com/what-we-do/fund-based-activities/asset-reconstruction
Commodity price of Gold, Sliver, Copper, doller/Rs and many more. Narnolia Securities Limited Market Diary 03.02.2014 http://www.narnolia.com/index.php/category/archieve/market-diary/
Tax Saving Mutual Fund - Invest in Franklin India Taxshield Fund and save you...franklintempletonindiaa
Franklin India Taxshield fund is a tax saving mutual fund which falls under the category of "Equity Linked Savings Scheme" (ELSS). It offers investors a tax deduction (Individuals and HUF) for an investment of upto Rs 1.5 lac which is allowed under Sec 80 C of Income tax Act 1961 (subject to a lock in period of 3 years)
ICICI Prudential Strategic Metal and Energy Equity Fund of Fundiciciprumf
Energise your portfolio with a global opportunity to grow. The ICICI Prudential Strategic Metal and Energy Equity Fund of Fund allows you to invest in gold and oil that push growth for many nations. To know more, read the brochure.
Presentation on annual report analysis of Sun Pharmaceuticals ltd.
Helpful for students of Amity University for project submission. Refer this presentation for basic report of FY 2019-2020.
New Reserve Bank of India (RBI) norms will temper growth of Asset Reconstruction Companies (ARCs), but will improve price-discovery and recovery prospects – A CRISIL Ratings presentation
Narnolia Securities Limited natural view on Stock of Dena Bank, Nestle India. Also we recommend BUY for the Vardhman Textiles stock with target price of Rs.412 because current earning growth and environment the stock is looking very good but due
to lack of trigeers in FY15 we are really conservative for FY15
Commodity price of Gold, Sliver, Copper, doller/Rs and many more. Narnolia Securities Limited Market Diary 03.02.2014 http://www.narnolia.com/index.php/category/archieve/market-diary/
Tax Saving Mutual Fund - Invest in Franklin India Taxshield Fund and save you...franklintempletonindiaa
Franklin India Taxshield fund is a tax saving mutual fund which falls under the category of "Equity Linked Savings Scheme" (ELSS). It offers investors a tax deduction (Individuals and HUF) for an investment of upto Rs 1.5 lac which is allowed under Sec 80 C of Income tax Act 1961 (subject to a lock in period of 3 years)
ICICI Prudential Strategic Metal and Energy Equity Fund of Fundiciciprumf
Energise your portfolio with a global opportunity to grow. The ICICI Prudential Strategic Metal and Energy Equity Fund of Fund allows you to invest in gold and oil that push growth for many nations. To know more, read the brochure.
Presentation on annual report analysis of Sun Pharmaceuticals ltd.
Helpful for students of Amity University for project submission. Refer this presentation for basic report of FY 2019-2020.
New Reserve Bank of India (RBI) norms will temper growth of Asset Reconstruction Companies (ARCs), but will improve price-discovery and recovery prospects – A CRISIL Ratings presentation
Narnolia Securities Limited natural view on Stock of Dena Bank, Nestle India. Also we recommend BUY for the Vardhman Textiles stock with target price of Rs.412 because current earning growth and environment the stock is looking very good but due
to lack of trigeers in FY15 we are really conservative for FY15
Opportunities & Challenges in Developing Wind Energy in IndiaDevesh Gautam
This presentation will take you through the challenges and opportunities available for developing Wind Energy in India. The presentation has also covered various incentives and guidelines for availing same, tariff structure of various states. Various development models and financial models has also been covered. Finally way forward for any developer has also been touched upon.
Suzlon posts positive EBITDA for 3rd consecutive quarterSuzlon Group
Suzlon Group, the world’s fifth largest* wind turbine manufacturer on Friday 31st
October 2014, announced its results for the Q2 FY15. Suzlon posted its 3rd consecutive quarter
of positive EBIDTA at consolidated level reaffirming its improved performance.
Suzlon Energy Q1 Financial year 2014-15 (FY15) resultsSuzlon Group
Suzlon Group, the world’s fifth largest* wind turbine maker, on Friday 25th July 2014, announced its results for the First Quarter of financial year 2014-15 (FY15). In Q1 FY15. Suzlon posted its 2nd Consecutive quarter of positive EBIDTA at consolidated level reaffirming its improved performance.
Tulsi Tanti's Speech at The BRICS 2014 Summit - Full SpeechSuzlon Group
The Complete Speech Presented by Mr. Tulsi Tanti, Suzlon Group on 'Economic Integration-Challenges for Sustainable Growth' at BRICS Business Forum July 14, 2014
Mr.Tulsi Tanti's speech at the BRICS 2014 Summit on ‘Economic Integration-Cha...Suzlon Group
Summary of the Speech Presented by Mr. Tulsi Tanti, Suzlon Group on ‘Economic Integration-Challenges for Sustainable Growth’ at BRICS Business Forum July 14, 2014
Full Press Release - Suzlon Bondholders Approve RestructuringSuzlon Group
Suzlon bondholders across all four series approve #FCCB restructuring proposal. Full press release.
Preview: Suzlon Group, the world’s fifth largest* wind turbine maker, today
announced that the holders of each series of its Existing Bonds (due in October 2012, July 2014
and April 2016) have approved the proposed restructuring of the Existing Bonds including the
terms and conditions of the new foreign currency convertible bonds. The company had earlier
announced receipt of approval from the Corporate Debt Restructuring Empowered Group and the
Reserve Bank of India for the restructuring.
Search and Society: Reimagining Information Access for Radical FuturesBhaskar Mitra
The field of Information retrieval (IR) is currently undergoing a transformative shift, at least partly due to the emerging applications of generative AI to information access. In this talk, we will deliberate on the sociotechnical implications of generative AI for information access. We will argue that there is both a critical necessity and an exciting opportunity for the IR community to re-center our research agendas on societal needs while dismantling the artificial separation between the work on fairness, accountability, transparency, and ethics in IR and the rest of IR research. Instead of adopting a reactionary strategy of trying to mitigate potential social harms from emerging technologies, the community should aim to proactively set the research agenda for the kinds of systems we should build inspired by diverse explicitly stated sociotechnical imaginaries. The sociotechnical imaginaries that underpin the design and development of information access technologies needs to be explicitly articulated, and we need to develop theories of change in context of these diverse perspectives. Our guiding future imaginaries must be informed by other academic fields, such as democratic theory and critical theory, and should be co-developed with social science scholars, legal scholars, civil rights and social justice activists, and artists, among others.
GDG Cloud Southlake #33: Boule & Rebala: Effective AppSec in SDLC using Deplo...James Anderson
Effective Application Security in Software Delivery lifecycle using Deployment Firewall and DBOM
The modern software delivery process (or the CI/CD process) includes many tools, distributed teams, open-source code, and cloud platforms. Constant focus on speed to release software to market, along with the traditional slow and manual security checks has caused gaps in continuous security as an important piece in the software supply chain. Today organizations feel more susceptible to external and internal cyber threats due to the vast attack surface in their applications supply chain and the lack of end-to-end governance and risk management.
The software team must secure its software delivery process to avoid vulnerability and security breaches. This needs to be achieved with existing tool chains and without extensive rework of the delivery processes. This talk will present strategies and techniques for providing visibility into the true risk of the existing vulnerabilities, preventing the introduction of security issues in the software, resolving vulnerabilities in production environments quickly, and capturing the deployment bill of materials (DBOM).
Speakers:
Bob Boule
Robert Boule is a technology enthusiast with PASSION for technology and making things work along with a knack for helping others understand how things work. He comes with around 20 years of solution engineering experience in application security, software continuous delivery, and SaaS platforms. He is known for his dynamic presentations in CI/CD and application security integrated in software delivery lifecycle.
Gopinath Rebala
Gopinath Rebala is the CTO of OpsMx, where he has overall responsibility for the machine learning and data processing architectures for Secure Software Delivery. Gopi also has a strong connection with our customers, leading design and architecture for strategic implementations. Gopi is a frequent speaker and well-known leader in continuous delivery and integrating security into software delivery.
JMeter webinar - integration with InfluxDB and GrafanaRTTS
Watch this recorded webinar about real-time monitoring of application performance. See how to integrate Apache JMeter, the open-source leader in performance testing, with InfluxDB, the open-source time-series database, and Grafana, the open-source analytics and visualization application.
In this webinar, we will review the benefits of leveraging InfluxDB and Grafana when executing load tests and demonstrate how these tools are used to visualize performance metrics.
Length: 30 minutes
Session Overview
-------------------------------------------
During this webinar, we will cover the following topics while demonstrating the integrations of JMeter, InfluxDB and Grafana:
- What out-of-the-box solutions are available for real-time monitoring JMeter tests?
- What are the benefits of integrating InfluxDB and Grafana into the load testing stack?
- Which features are provided by Grafana?
- Demonstration of InfluxDB and Grafana using a practice web application
To view the webinar recording, go to:
https://www.rttsweb.com/jmeter-integration-webinar
Epistemic Interaction - tuning interfaces to provide information for AI supportAlan Dix
Paper presented at SYNERGY workshop at AVI 2024, Genoa, Italy. 3rd June 2024
https://alandix.com/academic/papers/synergy2024-epistemic/
As machine learning integrates deeper into human-computer interactions, the concept of epistemic interaction emerges, aiming to refine these interactions to enhance system adaptability. This approach encourages minor, intentional adjustments in user behaviour to enrich the data available for system learning. This paper introduces epistemic interaction within the context of human-system communication, illustrating how deliberate interaction design can improve system understanding and adaptation. Through concrete examples, we demonstrate the potential of epistemic interaction to significantly advance human-computer interaction by leveraging intuitive human communication strategies to inform system design and functionality, offering a novel pathway for enriching user-system engagements.
UiPath Test Automation using UiPath Test Suite series, part 4DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 4. In this session, we will cover Test Manager overview along with SAP heatmap.
The UiPath Test Manager overview with SAP heatmap webinar offers a concise yet comprehensive exploration of the role of a Test Manager within SAP environments, coupled with the utilization of heatmaps for effective testing strategies.
Participants will gain insights into the responsibilities, challenges, and best practices associated with test management in SAP projects. Additionally, the webinar delves into the significance of heatmaps as a visual aid for identifying testing priorities, areas of risk, and resource allocation within SAP landscapes. Through this session, attendees can expect to enhance their understanding of test management principles while learning practical approaches to optimize testing processes in SAP environments using heatmap visualization techniques
What will you get from this session?
1. Insights into SAP testing best practices
2. Heatmap utilization for testing
3. Optimization of testing processes
4. Demo
Topics covered:
Execution from the test manager
Orchestrator execution result
Defect reporting
SAP heatmap example with demo
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
PHP Frameworks: I want to break free (IPC Berlin 2024)Ralf Eggert
In this presentation, we examine the challenges and limitations of relying too heavily on PHP frameworks in web development. We discuss the history of PHP and its frameworks to understand how this dependence has evolved. The focus will be on providing concrete tips and strategies to reduce reliance on these frameworks, based on real-world examples and practical considerations. The goal is to equip developers with the skills and knowledge to create more flexible and future-proof web applications. We'll explore the importance of maintaining autonomy in a rapidly changing tech landscape and how to make informed decisions in PHP development.
This talk is aimed at encouraging a more independent approach to using PHP frameworks, moving towards a more flexible and future-proof approach to PHP development.
Essentials of Automations: Optimizing FME Workflows with ParametersSafe Software
Are you looking to streamline your workflows and boost your projects’ efficiency? Do you find yourself searching for ways to add flexibility and control over your FME workflows? If so, you’re in the right place.
Join us for an insightful dive into the world of FME parameters, a critical element in optimizing workflow efficiency. This webinar marks the beginning of our three-part “Essentials of Automation” series. This first webinar is designed to equip you with the knowledge and skills to utilize parameters effectively: enhancing the flexibility, maintainability, and user control of your FME projects.
Here’s what you’ll gain:
- Essentials of FME Parameters: Understand the pivotal role of parameters, including Reader/Writer, Transformer, User, and FME Flow categories. Discover how they are the key to unlocking automation and optimization within your workflows.
- Practical Applications in FME Form: Delve into key user parameter types including choice, connections, and file URLs. Allow users to control how a workflow runs, making your workflows more reusable. Learn to import values and deliver the best user experience for your workflows while enhancing accuracy.
- Optimization Strategies in FME Flow: Explore the creation and strategic deployment of parameters in FME Flow, including the use of deployment and geometry parameters, to maximize workflow efficiency.
- Pro Tips for Success: Gain insights on parameterizing connections and leveraging new features like Conditional Visibility for clarity and simplicity.
We’ll wrap up with a glimpse into future webinars, followed by a Q&A session to address your specific questions surrounding this topic.
Don’t miss this opportunity to elevate your FME expertise and drive your projects to new heights of efficiency.
Neuro-symbolic is not enough, we need neuro-*semantic*Frank van Harmelen
Neuro-symbolic (NeSy) AI is on the rise. However, simply machine learning on just any symbolic structure is not sufficient to really harvest the gains of NeSy. These will only be gained when the symbolic structures have an actual semantics. I give an operational definition of semantics as “predictable inference”.
All of this illustrated with link prediction over knowledge graphs, but the argument is general.
Key Trends Shaping the Future of Infrastructure.pdfCheryl Hung
Keynote at DIGIT West Expo, Glasgow on 29 May 2024.
Cheryl Hung, ochery.com
Sr Director, Infrastructure Ecosystem, Arm.
The key trends across hardware, cloud and open-source; exploring how these areas are likely to mature and develop over the short and long-term, and then considering how organisations can position themselves to adapt and thrive.
"Impact of front-end architecture on development cost", Viktor TurskyiFwdays
I have heard many times that architecture is not important for the front-end. Also, many times I have seen how developers implement features on the front-end just following the standard rules for a framework and think that this is enough to successfully launch the project, and then the project fails. How to prevent this and what approach to choose? I have launched dozens of complex projects and during the talk we will analyze which approaches have worked for me and which have not.
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...DanBrown980551
Do you want to learn how to model and simulate an electrical network from scratch in under an hour?
Then welcome to this PowSyBl workshop, hosted by Rte, the French Transmission System Operator (TSO)!
During the webinar, you will discover the PowSyBl ecosystem as well as handle and study an electrical network through an interactive Python notebook.
PowSyBl is an open source project hosted by LF Energy, which offers a comprehensive set of features for electrical grid modelling and simulation. Among other advanced features, PowSyBl provides:
- A fully editable and extendable library for grid component modelling;
- Visualization tools to display your network;
- Grid simulation tools, such as power flows, security analyses (with or without remedial actions) and sensitivity analyses;
The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
What you will learn during the webinar:
- For beginners: discover PowSyBl's functionalities through a quick general presentation and the notebook, without needing any expert coding skills;
- For advanced developers: master the skills to efficiently apply PowSyBl functionalities to your real-world scenarios.
2. www.suzlon.com
• This presentation and the accompanying slides (the “Presentation”), which have been prepared by Suzlon Energy Limited (the “Company”), have
been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any
securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of
securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.
• This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company
makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness,
fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the
information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly
excluded.
• Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that
are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are
subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are
not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the wind
power industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of
growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s
market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or
achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no
obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by
third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements
and projections.
• No offering of the Company’s securities will be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”). Accordingly,
unless an exemption from registration under the Securities Act is available, the Company’s securities may not be offered, sold, resold, delivered
or distributed, directly or indirectly, into the United States or to, or for the account or benefit of, any U.S. Person (as defined in regulation S under
the Securities Act).
• The distribution of this document in certain jurisdictions may be restricted by law and persons into whose possession this presentation comes
should inform themselves about and observe any such restrictions.
2
Disclaimer
4. www.suzlon.com
Preferential Allotment – Rs. 1,800 crs.
Equity infusion to further improve balance sheet and bolster growth plans
Equity infusion by a Strong Investor
4
Shareholding New Investor Promoter
Post Allotment 22.7% 23.8%
Diluted 16.7% 17.5%
To accelerate growth, invest in wind farm and technology
• Subject to customary closing conditions, including shareholders and regulatory approval
Dilip Shanghvi Family and
Associates (DSA)
Preferential Allotment of
100 crs. shares
5. www.suzlon.com5
Strong equity base
Potential Shareholding Structure
100.0
158.4
DSACurrent
340.3
Diluted
598.7
FCCB
Conversions
30.9% 23.8% 17.5%
22.7%
16.7%
21.5%
16.6%
12.2%
47.7%
36.9%
53.6%
Tanti Family
DSA
Lenders
Public
Fully DilutedPost New
Equity
Current
No. of shares in Crs. % Holdings
6. www.suzlon.com
Deal Specifics
To develop 450 MW within 2 years
Proposed Wind Farm Joint Venture
6
Additional working capital facilities to Suzlon for execution of the project
Wind Farm JV
Dilip Shanghvi Family
and Associates
Lenders
Debt funding
• Subject to customary closing conditions
7. www.suzlon.com
Deal Specifics
The facility is over and above provided to Suzlon from lenders
Additional Working Capital Facilities
7
Demonstrates confidence in Suzlon capabilities and business model
Lakshdeep Investments
Lender’s Group
Credit Enhancements
Working Capital Facilities
• Subject to customary closing conditions
8. www.suzlon.com
Deal Specifics
• Reduced debt
• Reduced interest
• Reduced repayments
Senvion Sale
8
Fund raised to be primarily utilized for deleveraging
Total Consideration
Immediate Cash EUR 1 bn
Earn Out EUR 50 mn (Subject to conditions)
Licensing Arrangements
India - Offshore Suzlon to get Offshore technology
license for India market
US - S111 Senvion to get Suzlon’s S111 license
for US Market
Landmark event in Suzlon turnaround story
• Subject to customary closing conditions; expected within this financial year
Landmark event in Suzlon turnaround story
9. www.suzlon.com
Long Term Strategic Initiatives
To enter FY16 with reduced debt, lower interest and strong liquidity position
Immensely Beneficial to Operations
9
Deleveraging
Business
Growth
Lower Break
Even
Volume
Ramp up
Profitability
Strong Industry Opportunity
Increasing Stakeholder’s Confidence
Fixing the capital structure permanently
• Equity Investment in Suzlon
• Wind Farm JV with Suzlon
• Incremental Working Capital
Facilities
Senvion Sale
Backing of Strong Investor
10. www.suzlon.com
Strategic Focus
10
Focus on markets like India, America, China, South Africa, Turkey etc.
• High growth, High volume, Better margin markets only
Superior Technology
• Continued focus on R&D aimed at reducing cost of energy
Best in Class Service; Growing OMS business
• Aimed at maximising energy yield
Increasing
Market
Competitiveness
Asset Light / Debt Light
• Minimize fixed expenses
• Reduction in interest cost
• Optimization of facility and resources
11. www.suzlon.com
Multiple initiatives taken in last couple of years
Liability management, liquidity constraints, capital structure issues - all behind us
Back to Business Growth
11
• FCCB default
• Cross default on other
debt facilities
FY13 FY14 FY15 FY16
• CDR
• Credit Enhanced Bond
Issuance
• Business restructuring
• FCCB restructuring
• Senvion Sale
• Equity Infusion
• Working Capital tie-up
• Focus on profitable
growth
• Volume to
significantly ramp up
• Execution is key
• Part liability management
(FCCB pending)
• Constrained Liquidity
• Volume impacted
• Operational Standstill
• Default Overhang
• Constrained Liquidity
• Huge losses
• India strong policy
initiatives announced
• Corrective action on
capital structure
• Volume impacted
13. www.suzlon.com
Performance Snapshot
13
Liquidity boost from strategic initiatives to enable volume ramp up
Particulars
9M FY15
Suzlon Wind
9M FY15
Consolidated
9M FY14
Suzlon Wind
9M FY14
Consolidated
Revenue 3,957 14,928 4,134 13,631
EBITDA -280 482 -979 -469
EBIT -558 -141 -1,270 -1,034
Key takeaways:
• 9M FY15 Consol EBITDA Rs. 482 crs vis-à-vis Rs. -469 crs YoY
• 9M FY15 Suzlon Wind EBITDA Rs. -280 crs vis-à-vis Rs. -979 crs YoY
• Lower volumes at Suzlon Wind due to constrained liquidity
• Suzlon Wind OMS business continued to grow in size; 9M revenues at Rs. 1,082 crs up 10% YoY
• Senvion continued with its stable performance; 9M revenues up 15% YoY
14. www.suzlon.com
Volume (MW) EBITDA (Rs. Crs.)
Suzlon Wind Performance – Key Trends
14
Reduced loss despite lower volumes
35
138
106
Q3 FY15Q2 FY15Q3 FY14
-100
-198
-436
Q3 FY15Q2 FY15Q3 FY14
• Improving profitability – Favorable geographic and product mix
• Reduced Fixed Expenses – Driven by business restructuring and stringent cost control
• Interest expenses to be substantially reduced – Driven by liability management and deleveraging initiatives
• Volume set to ramp up – To be aided by strong liquidity support
15. www.suzlon.com
Revenues (Rs. Crs.)
Suzlon Wind: OMS Business
15
Annuity like business with high cash generation
*External only
1,082
979
594
9M’15
+35.0%
9M’149M’13
• Strong Growth at 35% CAGR
• 50+% Contribution margin
• ~100% renewal track record
• Contractual, annuity-like, cash flows
• Non cyclical business in nature
Growing into a sizeable business
16. www.suzlon.com
Order Book as on 31st Dec 2014
Suzlon Wind: Order Book
16
Sizeable current order book and orders in pipeline for FY16
• Deliveries within next 12 months
• 6-9 months execution cycle in India
• Spot orders not captured
• Strong order pipeline
Huge traction seen, especially in India market
Particulars Amount
Order Book Volume 1,147.50 MW
Order Book Value Rs. 7,250 crs.
Delivery Schedule By Mar’16
• Spot orders refers to orders received and completed within the same financial year
18. www.suzlon.com
Existing Debt Profile
18
Secured Domestic Debt(1) Rs. 8,901 Crs.
Foreign Currency
Denominated
Suzlon Wind
Rupee
Denominated
Note:
(1) Rs. ~32 crs of unsecured loans not included
(2) Adjusted for US$48.3M converted after 31st Dec 2014
FCCBs(2) $436M
Restructured through CDR /
Bilateral Negotiations
Restructuring concluded
5 yr bullet maturity in FY2019-20
1
2
1
As on 31st Dec 2014
5 yr bullet maturity in Mar’18
Credit Enhanced bonds $647M
Misc. working capital and
other facilities
$115M3
Effective Interest Rate @ ~11%
Effective Interest Rate @ ~3.3%
Effective Interest Rate @ ~6.25%
Significant reduction in debt post completion of strategic initiatives
19. www.suzlon.com
FCCB Principal Value* (US$ Mn)
FCCB Conversion to Equity
19
28.828.8
139.6
Post
Restructuring
436.1
Current
Outstanding
407.3
575.7
Conversion
till date
546.9
April 2016 SeriesJuly 2019 Series
• Strengthening Balance Sheet
— Debt reduced by ~Rs. 880 crs
— Debt equity ratio improves
• Conversion Details
— Debt Converted: US$139.6M
— Exchange Rate: Rs. 60.225
— Conversion Price: Rs. 15.46 per share
— Issue of ~54+crs shares
Reduced debt obligation and strengthening equity base
* Includes notices received and shares allotted until 5th February
• Assuming full conversion
— Debt to reduce by Rs. ~2,500 crs
— Equity to strengthen by Rs. ~2,500 crs
21. www.suzlon.com
Pan – India presence with strong sales force in each state
>1,700 satisfied SME and captive customer base with high repeat business potential
End to end solution provider;
Best in class service; custodian of 8+ GW assets
Strong track record of 18+ years of leadership in India and proven execution capabilities
Government targets 100 GW by 2022
India Market: A Huge Opportunity
21
Annual Wind Installations (MW) - India
AD only AD + GBI No Incentives Restored AD + Improved GBI
Growing wind competitiveness and increasing preferential tariffs
SME + Captive Only SME + Captive mostly
Emergence of IPP
IPP mostly
SME + Captive minimal
Growing IPP (Improved GBI)
SME + Captive demand restored (AD)
4,0003,600
2,3002,0771,721
3,179
2,350
1,5651,488
-19%
+32%
+29%
FY17EFY16EFY15EFY14FY13FY12FY11FY10FY09
Suzlon’s Unique Leadership Position to help capture market
22. www.suzlon.com
Suzlon, market leader in India, stands to be the biggest beneficiary
Key Incentives Driving Growth
22
Accelerated
Depreciation
(AD)
Generation
Based Incentives
(GBI)
Overview and Policy
• Withdrawn in Mar 2012, reintroduced in July 2014 and notified in September 2014
Impact: Brings back SME interest, Captive demand
Overview and Policy
• Withdrawn in March 2012, reintroduced in Mar 2013 and notified in Sep 2013
• Rs.0.50/unit incentive to generators with a cap of Rs.1 cr/MW, up from Rs.0.62 cr/MW for 4-10th year
Impact: IPPs to focus on setting up new capacities
Overview and Policy
• National Clean Energy cess doubled to Rs.100/mt
• This Fund to be used for GBI, low cost funding and green corridors
Impact: Higher corpus available to facilitate growth
Overview and Policy
• Under new Companies Act, eligible companies have to spend 2% of its average net profit on CSR activities
• Renewable energy / WTG qualifies under mandatory CSR spend
Impact: Demand from Corporates / PSUs to strengthen
Access to low
cost funding
Mandatory CSR
(Renewables)
Overview and Policy
• Distribution companies are required to procure a percentage of all electricity from renewables
Impact: Aids to meet the renewable energy sourcing target of 15% by 2020
Renewable
Purchase
Obligation
• Fast tracking of implementation of Green Corridor will address evacuation constraints
• Long term funding to infrastructure projects (Up to 25 years)
• 4% SAD on parts and raw material for WTG manufacturing removed
Other incentives
23. www.suzlon.com
Global Wind Industry Installations (GW)
Global Industry Overview
23
Our focus is on markets like India, America, China, South Africa, Turkey etc.
• Wind approaching grid parity
• Installations to reach record high in 2015
• US, China, and India to drive the growth
• Wind energy not linked to oil
― Oil contributes only 4% of world power
14 16 17 19
4
11
16 1111
11
9
10
6
7
5
2016e
+12%
2014e
345
2
2013
34
3
2
48
2015e
3
52
Europe Americas ChinaOffshore ROW
Source: Make 2014
25. www.suzlon.com
Suzlon Wind: Business Overview
25
Suzlon Wind
Project execution,
installation, commissioning,
power evacuation, etc.
WTG and components
manufacturing and
Supply
Service & Maintenance
of turbines post
commissioning
WTG EPC OMS
Domestic
(India)
Overseas
(America, China, South Africa,
Australia, Europe etc.)
• Tap offshore opportunities in India
• Developing solar parks in India
• Third party component supply
Proposed New BusinessesExisting Business
>8.5 GW installations till
date
>6.0 GW installations till
date
Sizeable domestic and international businessSizeable domestic and international installed base
26. www.suzlon.com
Global Wind Industry Installations (MW)
No expansion Capex required for growth
Manufacturing Capacity
26
Nacelle and Hub
Tower
Blades
Generators
Panels
Transformers
• Largely India based
• Most vertically integrated
• Leading technology to drive
down cost
Manufacturing Capacity
India based ~ 3,600 MW
China JV * ~600 MW
Total ~4,200 MW
* Holds only 25% stake in China JV
Existing India based capacity sufficiently large to cater to growth
27. www.suzlon.com
Revenues (Rs. Crs.)
MW Volumes
Have generated sizeable revenue in the past; only last couple of years impacted
Suzlon Wind: Proven Capability and Track Record
27
393
723
251
1,5831,5211,460
2,790
2,311
1,456
964
FY14FY13FY12FY11FY10FY09FY08FY07FY06 9M FY15
3,957
5,628
3,228
10,0039,1759,635
15,897
11,467
6,129
3,841
FY14FY13FY12FY11FY10FY09FY08FY07FY06 9M FY15
Impacted due to constrained liquidity
and liability management
29. www.suzlon.com
2MW series evolution
S111: Moving Towards Bigger Turbines and Better Yields
29
Maximizes energy output for low wind sites in India and abroad
• Licensing by a European technology leader (Senvion) for catering to US market shows S111 competitiveness
Higher energy yield Lower cost of energy Higher returns
Class III: Low Wind Sites
S9X
First agreement in US
concluded
~900 MW already
installed till date
~5.5 GW already
installed till date
S111S88
• Better generation
• Lower cost of energy
• Higher IRR for customers
• Makes low wind sites viable
• Prototype installed in Tamil Nadu
Note: AEP increase are approximate and under certain conditions
30. www.suzlon.com
Hybrid Tower: Combination of lattice and tubular
Hybrid Towers: First of its Kind
30
Optimizing cost and generation for low wind sites
• Higher hub height (120 M) at optimized cost
• 10-12% increase in annual generation
• Available in S97 and S111 product suite
• First order booked for 100MW
3-4 years of head start in this technology
• Prototype commissioned in June 2014 at Jamanwada, Gujarat