Suzlon stays in red but sees rising margins on turbine sales

Turbine maker Suzlon posted a loss of 4.79bn rupees ($86.5m) for the year ended 31 March, the third loss-making year in a row, but says margins will rise on the back of orders in high-growth markets.

The company also revealed plans to raise $100-$200m by selling some "non-critical" assets to reduce its $2bn debt.

The world’s fifth largest turbine maker has worried investors over its ability to repay $360m of foreign currency convertible bonds (FCCB) maturing in June and $207m due in October.

Earlier this month Suzlon said it had asked holders of the FCCBs maturing in June to grant an extension of up to 45 days while it raises up to $300m in new finance.

It also said it was looking at other ways of raising finance, Log in to read complete article.

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