??
........"After seven quarters of consecutive losses, EBITDA and EBIT were positive in Q4 2014, reflecting early signs of a turnaround. Also, in May 2014 Suzlon announced it had reached an agreement with Foreign Currency Convertible Bond (FCCB) holders on the bond restructuring. The restructuring is likely to conclude in the next two months, enabling the company to be technically out of 'default'," said HSBC report.
Analysts are also expecting the improved investor sentiment will help the company to raise funds via asset sales.
The wind-turbine maker has mopped up more than Rs 700 crore by selling two non-core assets. Suzlon realised about Rs 550 crore from the sale of US-based Big Sky wind farm and around Rs 173 crore by offloading stake in a Chinese manufacturing facility.
"We expect the new government to provide a boost to the country's renewable sector. This will help improve liquidity at Suzlon, thereby supporting the company's turnaround," the report added.
The company has a debt of Rs 9000 crore on its balance sheet. It has restructured FCCB for next 5 years at 5 per cent interest rate and the repayment for FCCBs will start from FY20.
The management is looking at selling assets in components business to reduce debt.
In an interview to ET Now, Kirti Vagadia, Group CFO, Suzlon Group said the company is looking at selling old office & manufacturing complex. Listing of Senvion is one of the options for raising funds, he said.
Read more at:
http://economictimes.indiatimes.com/articleshow/...utm_campaign=cppst
Thread abonnieren
