Suzlon wins tax appeal; penalty of Rs 21.92 Cr reduced to nil

Arbitration WonRegulatory & Legal View source PDF Explain this filing

SUZLON · price

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Price reactionminutes from the announcement price · days from the prior close

+2.0%Reaction day

₹52.05

prior close

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announcement price

After-mkt

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Nifty Midcap 150market · index membership as recorded later (tracked since Jun 2026)+1.2%+0.8% vs market

Heavy Electrical Equipment peers, median of 29sector+1.2%+0.8% vs sector

On the reaction day the stock moved 0.8 pts more than Nifty Midcap 150 and 0.8 pts more than its Heavy Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Reaction day

+2.0+1.2+0.8+1.2+0.8

Next day

+2.0+1.1+0.9+1.7+0.3

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UpDownMarket · Nifty Midcap 150Sector · Heavy Electrical Equipment peers, median of 29Pending

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AI summary

Suzlon Energy won a tax dispute at CESTAT Mumbai related to classification of designs and drawings imported under Product Development and Purchase Agreements during 2007 to 2011. The original demand was Rs 101.92 Crores covering tax, penalty and interest, with a penalty of Rs 21.92 Crores. CESTAT allowed the appeal on both merits and time limitation, wiping the penalty to nil. Contingent liability will reduce by Rs 101.92 Crores.

Likely market impact

Major positive. Penalty of Rs 21.92 Cr scrapped and contingent liability drops by Rs 101.92 Cr, easing balance sheet concerns for shareholders.