Suzlon maintains market leadership in FY19

Suzlon Group announced its fourth quarter (Q4 FY19) and annual audited results for financial year 2018-19 (FY19).

Suzlon Group announced its fourth quarter (Q4 FY19) and annual audited results for financial year 2018-19 (FY19).

J P Chalasani, Group CEO, said, “We continued to maintain market leadership and deliver highest installations amidst a prolonged and challenging industry transition to the bidding regime. The achievement demonstrates our strong technical and project execution capabilities and over two decades of experience in the Indian market. We continued our excellent track record in operation and maintenance service by achieving 97.48 per cent machine availability, highest till date. FY20 is expected to be a relatively high volumes market with Central and State-level auctions in India. We are geared to capitalise on growth with our superior technology, vertically integrated operations and best-in-class services. We will continue our R&D efforts and remain at the forefront of developing technologically advanced and innovative wind turbines.”

Kirti Vagadia, Group CFO, said, “The wind sector continues to witness impact of the prolonged transition phase which is also reflected in our FY19 performance. We remain committed to debt reduction, cost optimisation across the board and execution of our order book. We remain highly focused on ramping up execution in the coming quarters.”

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