All sectors
Power & Utilities
India targets 500 GW renewable energy capacity by 2030 — from solar, wind, hydro, and storage. The power sector is both a structural growth story and a turnaround story: decades of under-investment in generation and distribution are being addressed by government reforms. Transmission is a regulated business with near-guaranteed returns. Power generators are benefiting from rising merchant power prices and long-term PPAs with government distribution companies.
Companies
17
Total Market Cap
₹21.20 L Cr
Median P/E
35.0
Median ROE
10.3%
Median Div Yld
1.75%
Top Company
Adani Power Limited
Key Investment Themes
- ✓500 GW renewable energy target by 2030 — massive capex opportunity
- ✓Green hydrogen — India as potential global hub
- ✓Storage mandate driving battery storage projects
- ✓Power distribution privatisation improving efficiency
- ✓Nuclear energy expansion via SMRs and large plants
Key Risks to Watch
- ⚠Discom (distribution company) financial health and payment delays
- ⚠Intermittency of solar/wind requiring backup thermal capacity
- ⚠Land acquisition challenges for large renewable projects
- ⚠Regulatory risk in regulated transmission and distribution returns
Industry breakdown
Power13 cos · ₹8.17 L Cr · 38.6%
Power Generation2 cos · ₹7.87 L Cr · 37.1%
Transmission1 cos · ₹2.70 L Cr · 12.7%
Renewables1 cos · ₹2.46 L Cr · 11.6%
Top companies in Power & Utilities
17 companies| # | Company | 30D | Market cap | P/E | ROE % | Rev YoY | Profit YoY |
|---|---|---|---|---|---|---|---|
| 1 | Adani Power Limited ADANIPOWER · Power Generation | ₹4.36 L Cr | 35.1 | 20.9% | -8.9% | -4.9% | |
| 2 | NTPC Limited NTPC · Power Generation | ₹3.51 L Cr | 11.9 | 13.7% | -2.7% | +17.9% | |
| 3 | Power Grid Corporation of India Limited POWERGRID · Transmission | ₹2.70 L Cr | 14.2 | 16.5% | -1.3% | +3.7% | |
| 4 | Adani Green Energy Limited ADANIGREEN · Renewables | ₹2.46 L Cr | 158.8 | 7.6% | -6.5% | -7.6% | |
| 5 | Adani Energy Solutions Limited ADANIENSOL · Power | ₹1.89 L Cr | 84.8 | 9.7% | +74.6% | -7.6% | |
| 6 | Tata Power Company Limited TATAPOWER · Power | ₹1.29 L Cr | 35.0 | 11.3% | -40.8% | -64.1% | |
| 7 | JSW Energy Limited JSWENERGY · Power | ₹1.05 L Cr | 45.9 | 8.8% | -23.1% | -29.6% | |
| 8 | NTPC Green Energy Limited NTPCGREEN · Power | ₹84,078 Cr | 162.7 | 2.8% | -2.8% | -17.0% | |
| 9 | NHPC Limited NHPC · Power | ₹73,841 Cr | 27.1 | 9.0% | +14.8% | +17.3% | |
| 10 | Torrent Power Limited TORNTPOWER · Power | ₹73,288 Cr | 30.5 | 13.0% | -0.3% | -9.7% | |
| 11 | NLC India Limited NLCINDIA · Power | ₹46,556 Cr | 13.3 | 16.0% | — | — | |
| 12 | SJVN Limited SJVN · Power | ₹28,408 Cr | 45.2 | 4.5% | — | — | |
| 13 | Acme Solar Holdings Limited ACMESOLAR · Power | ₹24,854 Cr | 43.6 | 10.4% | — | — | |
| 14 | CESC Limited CESC · Power | ₹23,130 Cr | 15.4 | 12.6% | — | — | |
| 15 | NAVA LIMITED NAVA · Power | ₹16,588 Cr | 21.4 | 10.3% | — | — | |
| 16 | Jaiprakash Power Ventures Limited JPPOWER · Power | ₹12,686 Cr | 38.8 | 3.6% | — | — | |
| 17 | Reliance Power Limited RPOWER · Power | ₹11,270 Cr | — | -2.1% | — | — |
P/E, ROE, YoY growth shown when available. YoY growth requires 2+ years of annual financials (top 200 companies refreshed weekly).