Suzlon Energy Ltd

- There is no explicit mention of any current or planned new fundraising through debt or equity in the transcript. - The company currently has a strong consolidated net worth of INR7,860 crores and a net cash position of INR1,480 crores, providing financial flexibility. - Adequate banking limits of up to INR7,000 crores are tied-up for executing the current order book. - The company is using its available cash primarily for capex, seed capital for land development (INR150 crores), and operational purposes. - The CEO mentioned that as cash generation improves in the future, options like dividends or other uses of cash could be considered, but no immediate plans were specified. - No indication from management about plans to increase promoter holding through equity fundraising; promoter commitment remains firm without further reduction.

- Suzlon has provided INR150 crores as seed capital for land acquisition and development of wind farms, which will keep getting recycled. - The company is actively acquiring land for future projects, with about 1,150 megawatts of land footprint already acquired and 7.5 gigawatts under land acquisition. - Capital expenditure includes spending on expanding manufacturing capacity and internal machining capabilities, reducing reliance on outsourcing. - Ongoing investments are for business expansion, capex, and strategic land development to increase EPC contracts from current 20% to target 50% by FY '28. - Suzlon aims to accelerate execution velocity for faster value realization and control project execution through EPC, enabling higher turbine supply. - They are preparing for future export market expansion with team hiring and market study, with expected orders to start in FY '28.

- FY '26 performing well with record 565 MW delivered in Q2 and over 6 GW order book. - Expecting around 60% growth in deliveries, aiming for ~2,500 MW in FY '26. - Targeting 8 GW of wind installations in FY '27, up from 6 GW in FY '26. - Further growth expected in FY '27, but management refrains from giving exact numbers until Q3/Q4 updates. - Strong order pipeline with regular new order announcements; aim to maintain closing order book higher than the opening one. - Shift towards increasing EPC share from current 20% to 50% by FY '28. - SE Forge business showing robust 53% YoY revenue growth, indicating expanding volumes. - Overall, growth driven mainly by volume increase; revenues per MW remain stable with no significant price moderation.

- For FY '27, the company expects growth but has not specified numerical guidance yet (J.P. Chalasani, Page 19). - Suzlon targets a 60% growth in capacity delivery this year, aiming for around 2,500 MW; first half already at 1,000 MW (Page 10). - Order book exceeded 6 GW with over 2 GW wins in H1 FY '26, indicating strong future revenue potential (Page 4). - EBITDA margin improved to 18.6% in Q2 FY '26; management expects margin expansion and sustained profitability improvements (Page 4). - O&M segment margins faced a one-off dip but are expected to stabilize in the 37-40% range going forward (Page 8). - Deferred tax assets recognized suggest strong profit confidence, contributing to PAT growth (Page 4). - The company is focused on increasing EPC share from 20:80 to 50:50 by FY '28, expecting improved margins and control (Page 7-8). - SE Forge business shows robust growth (53% in H1) and margin expansion, supporting overall profitability (Page 12).

- Current order book stands at approximately 6.2 GW as of Q2 FY26. - About 65% of the order book is non-bidding route (C&I and PSU), with 35% via bidding. - The company aims to increase EPC contracts from 20% to 50% by FY28. - Over 2 GW in order wins in H1 FY26, with the S144 order book exceeding 5.6 GW. - Significant order pipeline under discussion; new orders expected to maintain trend of closing order book higher than opening. - Execution timelines vary from 18 to 27 months depending on contract specifics. - Suzlon reassures no impact on order book from the 42 GW solar LOA cancellations. - Manufacturing capacity not a constraint; main limitation is project offtake readiness. - Land acquired for development of 7.5 GW, identified sites for around 23 GW. - Plans to announce more EPC contracts starting Q4 FY26.