Acquisition by Suzlon
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Suzlon acquired German wind turbine manufacturer REPower (later known as Senvion) in 2007 to gain access to the European market and technology. However, high debt from the acquisition and declining wind power demand caused financial difficulties for Suzlon. In 2015, Suzlon sold Senvion for $1 billion to reduce debt, focusing instead on the Indian and US markets. The sale was crucial for Suzlon's restructuring and debt reduction, although Senvion contributed 65% of its revenue. Suzlon is now profitable again with lower debt levels.
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This document is an earnings presentation by Suzlon Energy Limited for the first half of fiscal year 2012. It provides the following key information:
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- The order book stands at $6.6 billion, 35% higher than the previous year.
- A "squeeze out" process is underway to acquire remaining shares of REpower for €142.77 per share.
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The document summarizes the history of the joint venture between TVS Group and Suzuki Motors in India from its inception in 1982 until their breakup in 2001. It discusses the ups and downs in the partnership over the years, including early success with mopeds but lagging motorcycles, losses in the 1990s that led to a turnaround strategy, and eventual parting of ways in 2001 due to strategic and management differences.
PSO internship report
The document summarizes Arif Mustafa's winter internship report at the Financial Reporting department. As part of a group project, Arif and his teammates presented on the circular debt in Pakistan's energy sector. They collected data from various sources to understand the dynamics of circular debt and its impact. Circular debt occurs when entities are both creditors and debtors to each other, and the debt continues growing as payments are not made. In Pakistan's energy sector, cash flow issues due to circular debt have reduced efficiency. This contributed to economic losses. The project helped Arif learn about Pakistan's energy sector, key players, and how circular debt affected the performance of entities like PSO. He projected that circular debt resolution and stabilized oil
Vedanta chimney collapse
This document is an interim report from Vedanta Resources plc for the first half of 2010. It summarizes the company's financial and operational performance, including revenues of $3.0 billion and EBITDA of $746 million. While volumes increased across all business segments, earnings were lower due to decreased commodity prices. The report also provides details on progress made in expanding operations and reducing costs, as well as upcoming expansion projects. Safety is a priority given a recent accident, and the company remains focused on growth in India as the economy rebounds.
DSP Equity Opportunities Fund
The document provides an overview of the DSP Equity Opportunities Fund, a large and mid-cap equity fund managed by DSP Investment Managers. The fund seeks to invest in established and emerging companies across sectors and market caps using a blend of top-down and bottom-up strategies. It has a track record of over two decades and aims to provide long-term capital appreciation through a diversified portfolio. The investment process involves in-depth research and analysis to identify attractive stocks while managing risk. As of September 2021, the fund had over 98% exposure to equities with top holdings in financial, materials, and industrial stocks.
SREI Infrastructure Finance Research Report
SREI Infra is an infrastructure finance company that provides project financing, equipment financing, and other services. Its business and profitability are closely tied to the macroeconomic cycle and growth in infrastructure spending. The document recommends buying SREI Infra stock as it expects a recovery in the economy to boost infrastructure spending and SREI Infra's earnings. It forecasts SREI Infra's earnings to grow 51% annually from FY14-17 as margins expand due to various factors including lower borrowing costs and improving asset quality.
Suzlon
The document provides information on rescuing Suzlon Energy Limited, an Indian wind turbine manufacturer that was facing financial distress. Key points:
1) Suzlon accumulated large amounts of high-cost debt for acquisitions that did not generate expected returns, and faced issues like customer payment defaults and supply chain problems that impacted cash flow.
2) A Corporate Debt Restructuring plan was approved involving debt reduction, interest rate cuts, additional working capital, and equity infusion to improve Suzlon's financial stability.
3) Recent positive developments in the wind energy industry, along with Suzlon's restructuring measures like cost cuts, asset sales, and subsidiaries reorganization, are expected to help the company achieve a
Suzlon Energy Q1 Financial year 2014-15 (FY15) results
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.
Mr. Kirti Vagadia, Group Head Finance, Suzlon Group - Interview with ET Now, ...
Suzlon reported strong financial results in the fourth quarter with its highest quarterly revenue in eight quarters and positive EBITDA and EBIT after seven quarters. Revenue for FY14 grew 8% to Rs. 20,000 crore. Suzlon plans to optimize its capital structure in FY15 by potentially listing and rebalancing debt through non-core asset sales and restructuring foreign currency convertible bonds. With a robust order backlog of Rs. 46,000 crore and expectations for the wind sector to grow 40% globally and locally, Suzlon is well positioned for continued growth.
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SPI Energy Groups - Investor Presentation Deck October 2020
SPI Energy Groups - Investor Presentation Deck October 2020
Suzlon Energy Q1 Financial year 2014-15 (FY15) results
Suzlon Energy Q1 Financial year 2014-15 (FY15) results
Mr. Kirti Vagadia, Group Head Finance, Suzlon Group - Interview with ET Now, ...
Mr. Kirti Vagadia, Group Head Finance, Suzlon Group - Interview with ET Now, ...
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What's a worker’s market? Job quality and labour market tightness
What's a worker’s market? Job quality and labour market tightnessLabour Market Information Council | Conseil de l’information sur le marché du travail
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.在线办理(GU毕业证书)美国贡萨加大学毕业证学历证书一模一样
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四.办理各国各大学文凭(一对一专业服务,可全程监控跟踪进度)
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留信网认证的作用:
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3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
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8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdf
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...Labour Market Information Council | Conseil de l’information sur le marché du travail
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.Does teamwork really matter? Looking beyond the job posting to understand lab...
Does teamwork really matter? Looking beyond the job posting to understand lab...Labour Market Information Council | Conseil de l’information sur le marché du travail
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.在线办理(TAMU毕业证书)美国德州农工大学毕业证PDF成绩单一模一样
学校原件一模一样【微信：741003700 】《(TAMU毕业证书)美国德州农工大学毕业证PDF成绩单》【微信：741003700 】学位证，留信认证（真实可查，永久存档）原件一模一样纸张工艺/offer、雅思、外壳等材料/诚信可靠,可直接看成品样本，帮您解决无法毕业带来的各种难题！外壳，原版制作，诚信可靠，可直接看成品样本。行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备。十五年致力于帮助留学生解决难题，包您满意。
本公司拥有海外各大学样板无数，能完美还原。
1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问Q/微741003700
【主营项目】
一.毕业证【q微741003700】成绩单、使馆认证、教育部认证、雅思托福成绩单、学生卡等！
二.真实使馆公证(即留学回国人员证明,不成功不收费)
三.真实教育部学历学位认证（教育部存档！教育部留服网站永久可查）
四.办理各国各大学文凭(一对一专业服务,可全程监控跟踪进度)
如果您处于以下几种情况：
◇在校期间，因各种原因未能顺利毕业……拿不到官方毕业证【q/微741003700】
◇面对父母的压力，希望尽快拿到；
◇不清楚认证流程以及材料该如何准备；
◇回国时间很长，忘记办理；
◇回国马上就要找工作，办给用人单位看；
◇企事业单位必须要求办理的
◇需要报考公务员、购买免税车、落转户口
◇申请留学生创业基金
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
South Dakota State University degree offer diploma Transcript
办理美国SDSU毕业证书制作南达科他州立大学假文凭定制Q微168899991做SDSU留信网教留服认证海牙认证改SDSU成绩单GPA做SDSU假学位证假文凭高仿毕业证GRE代考如何申请南达科他州立大学South Dakota State University degree offer diploma Transcript
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strategies
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5 Tips for Creating Standard Financial Reports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Who Is Abhay Bhutada, MD of Poonawalla Fincorp
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strategies
RMIT University degree offer diploma Transcript
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留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
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Ending stagnation: How to boost prosperity across Scotland
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
The state of welfare Resolution Foundation Event
How has Britain’s safety net changed since 2010 and what comes next?
Recently uploaded (20)
What's a worker’s market? Job quality and labour market tightness
What's a worker’s market? Job quality and labour market tightness
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdf
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdf
Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...
Does teamwork really matter? Looking beyond the job posting to understand lab...
Does teamwork really matter? Looking beyond the job posting to understand lab...
South Dakota State University degree offer diploma Transcript
South Dakota State University degree offer diploma Transcript
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
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Acquisition by Suzlon
- 1. Merger& Acquisition SUZLON – SENVION ACQUISITION BY HEMANT SINGH , RAJESH ZENA, FAHAD, SUDHARSAN (MPE18), NMIMS BANGALORE
- 2. Suzlon at glance : 2007-08 Financial parameters Suzlon Revenue (Consolidated) $ 3.4 bn Shareholder Equity $ 1.75 bn Industry Manufacturing/Engineering (Wind Energy ) Year of establishment 1995, India Objective : Analyze the transaction of acquisition
- 3. Suzlon Synergy – Why to acquire REPower (Senvion) The Synergy behind Acquisition : Access to European Market through REPower acquisition Will gain know how technologies in high capacity larger offshore Wind Turbine Generator (WTG) Will become fully integrated wind energy company and 4th in world in Wind Power Question : How to achieve this ?
- 4. Transactions Timeline and Milestones Investment Banker :Yes Bank 2005 2006 2009 RE Power Shareholding pattern: • AREVA – 30% • Martifier – 22.5% 2012 2014 20152007 Suzlon –SENVION Deal Size = $1.4bn Cash $250 mn Share Price : 292 INR Suzlon sold SENVION Deal Size = $1bn Share Price : 13 INR High Debt • Suzlon bidded along with Martifier to take control of 30% stake of AREVA • As per German regulation the transfer of technology and take over can not be completed as Suzlon was still not having control . Strategy was to take additional 22.5 % of Martifier and agreement was done in initial bidding process
- 5. Suzlon : 2015 Debt : INR 165bn/ 16500 Cr Earning from Senvion Sell : INR 70bn /7000 Cr The company plan to reduce its debt by INR60 bn & remaining INR 10bn in execution of its project Leverage became very high and demand for wind power demand went down post acquisition of REPower, 2007 onwards Earn out clause of €50m based on business performance i.e Suzlon will get this revenue if the business do well & probably this was better option for keeping Senvion past performance.
- 6. Resale of Senvion (Former REPower) The question is why the sale of Senvion was so crucial for Suzlon There was no way for Suzlon to reduce its debt without selling the company which they acquired 8 years back in 2007 although the 65 % of revenue was coming from sold Senvion company. Suzlon want to focus in Domestic and US market and to do so company need to restructure the finance and they sold the Senvion to reduce its tax burden. Highlight of Deal : Earnout Claue & All in cash deal
- 7. Resale of Senvion (Former REPower) The question is why the sale of Senvion was so crucial for Suzlon There was no way for Suzlon to reduce its debt without selling the company which they acquired 8 years back in 2007 although 65 % of Suzlon revenue was from Senvion. Suzlon issued series of FCCB maturing in 2016 and 2019. It failed to $ 200m in 2012 and this was first FCCB default by any Indian compay Suzlon want to focus in Domestic and US market and to do so company need to restructure the its finance and they sold the Senvion all in cash deal to reduce its tax burden. As the deal was done in all in cash means Suzlon was not willing to participate in further growth of company Suzlon Current status: Since last two financial year company is generating the profit and its current share price is ~ INR 13 per share
- 8. Q&A Q & A : Thanking You