Suzlon Energy Stock Under Pressure Amid ₹9.6 Crore Custom Penalty

The stock of Suzlon Energy is under pressure with a 4.58% drop over the past five days. A recent development could further extend the losses.

Customs Penalty

In a disclosure to the National Stock Exchange (NSE) and BSE Limited dated February 20, Suzlon Energy said that custom administrators slapped its now-merged Suzlon Global Services Limited with a penalty of ₹9.60 crore.

“This is to inform that the Principal Commissioner of Customs, Chennai has passed an order upon Suzlon Global Services Limited (since merged with Suzlon Energy Limited) levying a cumulative penalty of Rs.9.60 Crores,” the company said in its statement.

The custom commissioner’s order, which the company received on February 19, said that the penalty is due to the alleged short payment of customs duty under the Integrated Goods and Services Tax, or the IGST, which covers inter-state supplies of goods and services in India. 

The renewable energy company said that it plans to challenge the order. 

Suzlon 2.0

Earlier this month, the company reported a consolidated net profit of ₹445.28 crore for the third quarter ending December 31, 2025, representing a growth of 15.1% from ₹386.92 crore reported for the same quarter of the previous fiscal year.

According to Suzlon Group Vice Chairman Girish Tanti, the company has already initiated a business transformation strategy to establish itself as a full-stack clean energy solutions conglomerate.

“This strategic shift broadens our scope across wind, solar, storage, and emerging clean energy technologies, enabling us to offer integrated solutions to our customers,” Tanti said.

Despite the reported gains, Suzlon’s share price continues to struggle. The company’s stock already fell by 18% over the past year and nearly 23% over the past six months. It is currently trading for ₹44.15, down by 0.31% from the previous close of ₹44.46.