Suzlon Ditches US Plans After Trump Tariff Pressure And Will Focus On EU Instead

Suzlon Ltd. is shifting its international focus away from the United States in light of US President Donald Trump raising tariffs on India. Instead, the clean energy company will focus more on other markets such as the European Union, South Africa and Australia, according to Chief Executive Officer JP Chalasani.

“We are now looking for geographical expansion of exports,” Chalasani told NDTV Profit in an interview.

“We already have 2.1 GW operating and supplying across the world, and the U.S. is our biggest market. But looking at the uncertainty, we have taken a pause. In the last six months, we have started looking at various other markets. Teams have been deployed on the ground. We are now looking at Europe, Australia and South Africa," he added.

It must be noted that Suzlon currently derives 100% of its order book and revenue from India, according to its Q1 FY26 disclosures. The company has not secured a new international order in 18 months, with all 4.7 gigawatt backlog originating from Indian projects spread across states such as Maharashtra, Gujarat and Rajasthan.

Chalasani added that the company expects to start announcing overseas orders by FY27.

"You will see us start announcing some orders in FY27, and supplies could commence early FY27 and early FY28," he said.

Chalasani also highlighted international opportunities emerging through local players as well.

“Most of these players who are in India today are international players. A couple of such players have a global arrangement; they are buying from us in India, and they will buy from us for their projects outside of India. Some of those exciting opportunities are what we are negotiating,” he said.

Suzlon posted Rs 10,890 crore in FY25 revenue, up 105% year on year. However, almost the entirety of this topline has come from domestic business.

As for the stock, Suzlon shares have declined by over 30% in the past year and are currently trading with a relative strength index of 54, indicating neutral market sentiment.

Out of the nine analysts tracking Ashok Leyland, eight have a 'buy' rating on the stock and one recommends a 'hold', according to Bloomberg data. The average of 12-month analyst price target implies the stock has an upside potential of 30%.