ED Fines Suzlon Energy: Here’s Why Suzlon Was Fined Rs 20 Lakh - Check Details

ED Fines Suzlon: Suzlon Energy Ltd announced it has been penalised Rs 20 lakh by the Enforcement Directorate (ED) in Hyderabad for delays in realising export proceeds related to shipments made until the financial year 2016-17.  

The penalty pertains to its former subsidiary, Suzlon Wind International Ltd, which has since been merged with the parent company. In a stock exchange filing on Tuesday, Suzlon stated, "...Office of the Joint Director, Enforcement Directorate, Hyderabad has levied a penalty of Rs 20 Lacs upon the Company, in relation to delay in realisation of certain export proceeds for shipments made till FY2017, the details of which are as per the enclosed Annexure. With this, a long-standing legacy matter with the Enforcement Directorate has now been concluded."  

Suzlon Stock Performance 

Suzlon shares closed 1.49 per cent lower at Rs 64.82 on Tuesday. Despite the drop, the stock has delivered a robust 68.45 per cent return year-to-date, outperforming the 8.58 per cent rise in the benchmark BSE Sensex over the same period.  

Suzlon Financial Snapshot  

According to BSE data, Suzlon's stock has a high price-to-equity (P/E) ratio of 294.64 and a price-to-book (P/B) value of 22.82. The company’s earnings per share (EPS) stand at 0.22, with a return on equity (RoE) of 7.81.  

Promoter shareholding in the company stood at 13.25 per cent as of September 2024, a marginal decrease from 13.27 per cent in the previous quarter. Suzlon continues to attract investor interest, with its positioning in the renewable energy sector providing growth opportunities.