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 | — | — | — | — | 21.4% | 12.8% | 0.8 | — | +32.03% |
| NTPC Ltd | ₹2,89,494 Cr | ₹298.55 | 10.4 | 1.4 | 14.2% | 5.6% | 1.3 | 3.0% | -8.11% |
| Power Grid Corporation of India Ltd | ₹2,31,399 Cr | ₹248.8 | 14.6 | 2.3 | 16.5% | 6.1% | 1.5 | 3.6% | -0.66% |
| Adani Green Energy Ltd | ₹2,21,380 Cr | — | 122.2 | 10.8 | 12.4% | 1.6% | 5.2 | 0.0% | +65.0% |
| Adani Energy Solutions Ltd | — | — | — | — | 10.1% | 4.0% | 1.9 | — | +38.38% |
| Siemens Energy India Ltd | — | — | — | — | 25.1% | 28.7% | 0.0 | — | +39.37% |
| Gail (India) Ltd | ₹1,09,843 Cr | — | 11.1 | 1.2 | 8.7% | 8.3% | 0.3 | 3.3% | +1.14% |
| Tata Power Company Ltd | ₹1,09,185 Cr | ₹341.7 | 28.3 | 2.8 | 13.6% | 4.9% | 1.9 | 0.7% | -6.35% |
| NHPC Ltd | ₹72,676 Cr | — | 19.1 | 1.8 | 10.4% | 3.7% | 1.3 | 2.3% | -11.03% |
| NTPC Green Energy Ltd | ₹70,276 Cr | — | 117.5 | 3.8 | 2.8% | 1.3% | 1.7 | 0.0% | -9.06% |
| Waaree Energies Ltd | — | — | — | — | 32.5% | 29.2% | 0.2 | — | -6.21% |
| Torrent Power Ltd | ₹62,635 Cr | — | 27.0 | 3.3 | 13.5% | 9.4% | 0.7 | 1.7% | -7.59% |
| Adani Total Gas Ltd | ₹58,878 Cr | ₹535.35 | 91.8 | 11.3 | 14.5% | 12.1% | 0.6 | 0.1% | +8.84% |
| Premier Energies Ltd | ₹37,895 Cr | ₹839.2 | 22.6 | 8.8 | 42.4% | 25.8% | 0.9 | 0.1% | +24.98% |
| NLC India Ltd | ₹31,699 Cr | ₹228.6 | 9.7 | 1.5 | 18.7% | 7.1% | 1.3 | 1.7% | -2.02% |
| ACME Solar Holdings Ltd | ₹26,245 Cr | ₹371.75 | 38.4 | 4.5 | 10.4% | 2.7% | 3.9 | 0.1% | +110.43% |
| GUJARAT ENERGY LIMITED | ₹20,434 Cr | ₹217.79 | 9.7 | 1.1 | 8.0% | 11.0% | 0.2 | 4.1% | 0.00% |
| Indraprastha Gas Ltd | ₹19,720 Cr | — | 15.5 | 1.7 | 14.0% | 16.3% | 0.0 | 2.1% | -22.33% |
| SJVN Ltd | — | — | — | — | 4.5% | 2.8% | 2.3 | — | -37.81% |
| CESC Ltd | ₹17,203 Cr | — | 11.1 | 1.4 | 13.2% | 5.9% | 1.7 | 4.8% | -17.44% |
| Emmvee Photovoltaic Power Ltd | ₹16,765 Cr | ₹242.15 | 11.7 | 3.8 | 51.2% | 31.2% | 0.1 | 0.4% | +34.78% |
| Clean Max Enviro Energy Solutions Ltd | — | — | — | — | 2.4% | 0.8% | 2.7 | — | 0.00% |
| IndiGrid Infrastructure Trust | — | — | — | — | 7.1% | 1.7% | 3.5 | — | +14.24% |
| Fujiyama Power Systems Ltd | ₹11,139 Cr | ₹362.45 | 36.8 | 8.5 | 36.4% | 26.8% | 0.4 | 0.0% | +98.13% |
| Mahanagar Gas Ltd | ₹10,239 Cr | ₹1,036.6 | 14.3 | 1.6 | 13.7% | 16.2% | 0.0 | 3.5% | -2.14% |
| Jaiprakash Power Ventures Ltd | ₹9,581 Cr | — | 25.4 | 1.2 | 3.6% | 4.6% | 0.3 | 0.0% | -15.22% |
| POWERGRID Infrastructure Investment Trust | — | — | — | — | 12.0% | 9.4% | 0.1 | — | +26.12% |
| Reliance Power Ltd | — | — | — | — | -2.1% | -0.5% | 0.9 | — | -48.06% |
| Waaree Renewable Technologies Ltd | ₹6,873 Cr | ₹658.5 | 14.8 | 6.2 | 68.9% | 61.2% | 0.2 | 0.0% | -18.97% |
| Borosil Renewables Ltd | ₹5,676 Cr | ₹385.65 | 14.1 | 3.6 | 10.2% | 8.7% | 0.1 | 0.0% | -15.18% |
| KPI Green Energy Ltd | ₹5,665 Cr | ₹286.6 | 12.4 | 1.9 | 18.7% | 8.8% | 1.7 | 0.4% | -25.53% |
| Inox Green Energy Services Ltd | — | — | — | — | 5.6% | 9.1% | 0.1 | — | -38.36% |
| Vikram Solar Ltd | ₹4,783 Cr | — | 13.1 | 1.5 | 21.2% | 17.7% | 0.2 | 0.0% | -41.9% |
| Saatvik Green Energy Ltd | ₹4,500 Cr | ₹354 | 26.1 | 3.1 | 42.1% | 26.6% | 0.7 | 0.0% | -11.46% |
| Anzen India Energy Yield Plus Trust | — | — | — | — | 0.1% | 3.3% | 2.5 | — | +24.53% |
| PTC India Ltd | ₹4,152 Cr | — | 8.2 | 0.7 | 12.2% | 11.4% | 0.3 | 8.2% | -12.81% |
| Sterling and Wilson Renewable Energy Ltd | ₹3,480 Cr | — | 17.4 | 4.8 | -35.8% | -22.3% | 1.8 | 0.0% | -24.79% |
| RattanIndia Power Ltd | — | — | — | — | 1.1% | 0.6% | 0.8 | — | -31.41% |
| Websol Energy System Ltd | ₹2,660 Cr | — | 8.6 | 4.4 | 66.7% | 46.1% | 0.2 | 0.4% | -26.3% |
| Ravindra Energy Ltd | ₹2,657 Cr | — | 49.6 | 5.6 | 19.0% | 7.4% | 1.4 | 0.0% | -8.58% |
| Reliance Infrastructure Ltd | — | — | — | — | 30.0% | 11.0% | 0.3 | — | -81.95% |
| GK Energy Ltd | ₹1,937 Cr | — | 8.3 | 2.2 | 37.2% | 30.3% | 0.2 | 0.5% | -19.27% |
| Bajel Projects Ltd | — | — | — | — | 2.8% | 3.5% | 0.5 | — | +4.32% |
| Insolation Energy Ltd | ₹1,470 Cr | — | 7.3 | 1.8 | 28.3% | 17.5% | 1.1 | 0.0% | -52.55% |
| Onix Solar Energy Ltd | ₹1,152 Cr | ₹312.5 | 3.2 | 1.4 | 8.0% | 5.4% | 0.1 | 0.0% | +21.4% |
| Solarworld Energy Solutions Ltd | ₹972 Cr | — | 8.2 | 1.2 | 20.8% | 17.6% | 0.3 | 0.0% | -54.11% |
| IRM Energy Ltd | ₹960 Cr | ₹233.9 | 13.1 | 1.0 | 5.5% | 7.1% | 0.1 | 0.6% | +1.28% |
| Orient Green Power Company Ltd | ₹941 Cr | — | 14.6 | 0.8 | 6.5% | 4.5% | 0.5 | 0.0% | -19.24% |
| Swelect Energy Systems Ltd-$ | ₹932 Cr | ₹600.1 | 21.5 | 1.0 | 6.5% | 5.3% | 0.9 | 0.6% | +3.96% |
| Indosolar Ltd | ₹822 Cr | ₹197.47 | 6.6 | 2.5 | 47.0% | 75.9% | 0.0 | 0.0% | -55.93% |
| Concord Enviro Systems Ltd | ₹470 Cr | ₹227.3 | — | 0.8 | 3.6% | 3.8% | 0.3 | 0.0% | -38.22% |
| Urja Global Ltd | — | — | — | — | 0.8% | 1.0% | 0.1 | — | -18.28% |
| GVK Power & Infrastructure Ltd | — | — | — | — | —% | -1,389.1% | — | — | -18.27% |
| Surana Telecom and Power Limited | — | — | — | — | -8.4% | -0.6% | 0.4 | — | -20.29% |
| Indowind Energy Ltd | — | — | — | — | 0.0% | 0.4% | 0.0 | — | -51.64% |
| Confidence Futuristic Energetech Ltd | ₹98 Cr | — | 13.7 | 0.7 | 4.2% | 1.5% | 1.0 | 0.7% | -47.79% |
| Taylormade Renewables Ltd | ₹74 Cr | — | 83.7 | 0.8 | 1.9% | 2.3% | 0.2 | 0.0% | -79.58% |
| Energy Development Company Ltd | — | — | — | — | -6.1% | 5.0% | 35.2 | — | -25.41% |
| Karma Energy Ltd | — | — | — | — | 2.6% | -2.0% | 0.0 | — | -27.15% |
| TCM Ltd | — | — | — | — | -21.7% | -18.4% | 1.0 | — | +21.07% |
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.