Renewable capacity addition accelerating while thermal plants benefit from PLF improvement and merchant pricing.
| Company | M.Cap | Price | P/E | P/B | ROE | ROCE | D/E | Div Yield | 1Y Return |
|---|---|---|---|---|---|---|---|---|---|
| Adani Power Ltd | ₹4,14,428 Cr | — | 29.1 | 6.4 | 21.1% | 17.2% | 0.8 | 0.0% | +44.4% |
| NTPC Ltd | ₹3,24,257 Cr | ₹336.35 | 11.7 | 1.6 | 15.1% | 8.9% | 1.3 | 2.7% | -0.44% |
| Power Grid Corporation of India Ltd | ₹2,47,257 Cr | — | 15.6 | 2.5 | 15.3% | 9.1% | 1.5 | 3.4% | +2.72% |
| Adani Green Energy Ltd | — | ₹1,311 | — | — | 12.4% | 1.6% | 5.2 | — | +40.17% |
| Adani Energy Solutions Ltd | — | ₹1,421.9 | — | — | 10.1% | 4.0% | 1.9 | — | +49.3% |
| Tata Power Company Ltd | — | ₹371.9 | — | — | 13.6% | 4.9% | 1.9 | — | +0.95% |
| Gail (India) Ltd | — | — | — | — | 8.7% | 8.3% | 0.3 | — | +5.80% |
| Siemens Energy India Ltd | — | ₹3,167.25 | — | — | 25.1% | 28.7% | 0.0 | — | +33.43% |
| NHPC Ltd | ₹76,934 Cr | — | 20.3 | 1.9 | 9.3% | 5.8% | 1.3 | 2.1% | -6.66% |
| NTPC Green Energy Ltd | ₹74,177 Cr | — | 122.0 | 3.9 | 2.8% | 3.6% | 1.7 | 0.0% | -3.80% |
| Waaree Energies Ltd | ₹73,112 Cr | ₹2,549.6 | 18.2 | 5.1 | 32.8% | 38.8% | 0.2 | 0.2% | -1.94% |
| Torrent Power Ltd | — | ₹1,305.7 | — | — | 13.5% | 9.4% | 0.7 | — | -3.03% |
| Premier Energies Ltd | — | ₹977 | — | — | 42.4% | 25.8% | 0.9 | — | +30.48% |
| NLC India Ltd | — | — | — | — | 18.7% | 7.1% | 1.3 | — | +6.70% |
| ACME Solar Holdings Ltd | — | ₹413.1 | — | — | 10.4% | 8.9% | 3.9 | — | +84.09% |
| SJVN Ltd | — | — | — | — | 4.5% | 2.8% | 2.3 | — | -17.9% |
| GUJARAT ENERGY LIMITED | — | — | — | — | 12.5% | 11.0% | 0.2 | — | 0.00% |
| Emmvee Photovoltaic Power Ltd | — | ₹337.2 | — | — | 51.1% | 44.8% | 0.1 | — | +59.0% |
| Indraprastha Gas Ltd | ₹21,420 Cr | — | 16.8 | 1.9 | 14.0% | 16.3% | 0.0 | 2.0% | -15.53% |
| CESC Ltd | — | — | — | — | 13.2% | 5.9% | 1.7 | — | -9.49% |
| IndiGrid Infrastructure Trust | ₹16,717 Cr | — | 28.1 | 2.8 | 7.1% | 1.7% | 3.5 | 9.4% | +19.76% |
| Clean Max Enviro Energy Solutions Ltd | — | ₹1,403 | — | — | 2.4% | 0.8% | 2.7 | — | 0.00% |
| Fujiyama Power Systems Ltd | ₹13,497 Cr | ₹439.8 | 46.0 | 10.3 | 36.4% | 26.8% | 0.4 | — | +102.35% |
| Mahanagar Gas Ltd | — | ₹1,086 | — | — | 13.7% | 16.2% | 0.0 | — | +1.62% |
| Reliance Power Ltd | — | — | — | — | -2.1% | -0.5% | 0.9 | — | -33.35% |
| POWERGRID Infrastructure Investment Trust | — | — | — | — | 11.9% | 11.6% | 0.1 | — | +17.78% |
| Waaree Renewable Technologies Ltd | — | ₹836.25 | — | — | 68.9% | 61.2% | 0.2 | — | -11.54% |
| Borosil Renewables Ltd | — | ₹503.3 | — | — | 10.2% | 8.7% | 0.1 | — | +1.99% |
| Vikram Solar Ltd | ₹6,053 Cr | — | 16.8 | 1.9 | 21.4% | 30.6% | 0.2 | 0.0% | -27.16% |
| KPI Green Energy Ltd | ₹5,676 Cr | ₹295.55 | 12.4 | 1.9 | 17.4% | 13.8% | 1.7 | 0.3% | -34.04% |
| Saatvik Green Energy Ltd | ₹5,230 Cr | ₹411.5 | 21.2 | 3.6 | 42.1% | 26.6% | 0.7 | — | +2.99% |
| Sterling and Wilson Renewable Energy Ltd | — | — | — | — | -35.8% | -22.3% | 1.8 | — | -9.07% |
| RattanIndia Power Ltd | ₹3,898 Cr | — | 34.6 | 0.8 | 1.1% | 0.6% | 0.8 | — | -18.52% |
| Websol Energy System Ltd | — | — | — | — | 66.9% | 63.2% | 0.2 | — | -12.26% |
| Gujarat Industries Power Company Ltd | — | — | — | — | 10.9% | 3.0% | 0.9 | — | +39.25% |
| GK Energy Ltd | — | — | — | — | 37.3% | 41.4% | 0.2 | — | -11.16% |
| Reliance Infrastructure Ltd | — | — | — | — | 30.0% | 11.0% | 0.3 | — | -78.58% |
| Insolation Energy Ltd | — | — | — | — | 28.3% | 17.5% | 1.1 | — | -40.73% |
| Bajel Projects Ltd | ₹2,053 Cr | — | 76.1 | 2.7 | 4.1% | 11.0% | 0.5 | 0.3% | +10.06% |
| Solarworld Energy Solutions Ltd | — | — | — | — | 20.8% | 17.6% | 0.3 | — | -43.99% |
| IRM Energy Ltd | — | — | — | — | 5.5% | 7.1% | 0.1 | — | +3.64% |
| Indosolar Ltd | — | — | — | — | 150.1% | 75.9% | 0.0 | — | -41.86% |
| Orient Green Power Company Ltd | — | — | — | — | 6.5% | 4.5% | 0.5 | — | -14.71% |
| Swelect Energy Systems Ltd-$ | — | ₹587.4 | — | — | 5.3% | 8.0% | 0.9 | — | -0.43% |
| Concord Enviro Systems Ltd | ₹579 Cr | — | — | 1.0 | 3.6% | 6.8% | 0.3 | 0.0% | -38.34% |
| Urja Global Ltd | ₹476 Cr | — | 335.0 | 2.7 | 0.8% | 1.3% | 0.1 | 0.0% | -14.85% |
| Surana Telecom and Power Limited | — | — | — | — | 14.7% | 13.4% | 0.4 | — | -16.13% |
| Indowind Energy Ltd | — | — | — | — | 0.0% | 2.2% | 0.0 | — | -37.93% |
| Confidence Futuristic Energetech Ltd | — | — | — | — | 4.2% | 1.5% | 1.0 | — | -57.08% |
| Taylormade Renewables Ltd | — | — | — | — | 1.9% | 2.3% | 0.2 | — | -78.86% |
| Energy Development Company Ltd | ₹70 Cr | — | 293.0 | 18.2 | 33.2% | 14.3% | 35.2 | 0.0% | -16.13% |
| Karma Energy Ltd | ₹44 Cr | — | 49.6 | 1.1 | 2.6% | -2.0% | 0.0 | — | -25.37% |
| TCM Ltd | — | — | — | — | -21.7% | -18.4% | 1.0 | — | +10.61% |
India's power sector is transforming rapidly — renewable energy capacity has crossed 190 GW (including large hydro), with a target of 500 GW non-fossil by 2030. Thermal power, despite the green narrative, remains critical for baseload and has seen improved Plant Load Factors (PLFs) above 70%. The sector benefits from rising electricity demand (7-8% growth) driven by industrialization, EVs, and data centers.
Power transmission is a regulated return business with 15-16% ROE visibility. Renewable developers trade on EV/MW and contracted revenue visibility. Discoms remain financially stressed but reforms (smart metering, privatization) are underway.
Key metrics: PLF for thermal, CUF for renewables, regulated equity return, and PPA terms.
rupiya.io is for research and education only. Metrics shown are not investment advice. Validate with SEBI-regulated disclosures before acting.