# Power & Utilities Sector
> Renewable capacity addition accelerating while thermal plants benefit from PLF improvement and merchant pricing.

## Overview
Market Cap: ₹15,40,326 Cr
Avg P/E: 70.2
Companies: 35

## Data Freshness
Sector Updated: 2026-09-03T10:49:42.134Z
Updated By: daily market-close sector sync and derived refresh jobs

## Companies
- Adani Power Ltd (ADANIPOWER): — | PE 29.1 | MCap ₹4,14,428 Cr
- NTPC Ltd (NTPC): ₹336.35 | PE 11.7 | MCap ₹3,24,257 Cr
- Power Grid Corporation of India Ltd (POWERGRID): — | PE 15.6 | MCap ₹2,47,257 Cr
- Adani Green Energy Ltd (ADANIGREEN): ₹1311 | PE — | MCap —
- Adani Energy Solutions Ltd (ADANIENSOL): ₹1421.9 | PE — | MCap —
- Tata Power Company Ltd (TATAPOWER): ₹371.9 | PE — | MCap —
- Gail (India) Ltd (GAIL): — | PE — | MCap —
- Siemens Energy India Ltd (ENRIN): ₹3167.25 | PE — | MCap —
- JSW Energy Ltd (JSWENERGY): ₹535 | PE 42.4 | MCap ₹98,032 Cr
- NHPC Ltd (NHPC): — | PE 20.3 | MCap ₹76,934 Cr
- NTPC Green Energy Ltd (NTPCGREEN): — | PE 122.0 | MCap ₹74,177 Cr
- Waaree Energies Ltd (WAAREEENER): ₹2549.6 | PE 18.2 | MCap ₹73,112 Cr
- Adani Total Gas Ltd (ATGL): ₹618.75 | PE 107.4 | MCap ₹68,051 Cr
- Torrent Power Ltd (TORNTPOWER): ₹1305.7 | PE — | MCap —
- Premier Energies Ltd (PREMIERENE): ₹977 | PE — | MCap —
- NLC India Ltd (NLCINDIA): — | PE — | MCap —
- ACME Solar Holdings Ltd (ACMESOLAR): ₹413.1 | PE — | MCap —
- SJVN Ltd (SJVN): — | PE — | MCap —
- Gujarat Gas Ltd (GUJGASLTD): — | PE — | MCap —
- GUJARAT ENERGY LIMITED (GUJENERGY): — | PE — | MCap —
- Emmvee Photovoltaic Power Ltd (EMMVEE): ₹337.2 | PE 18.8 | MCap ₹23,948 Cr
- Indraprastha Gas Ltd (IGL): — | PE 16.8 | MCap ₹21,420 Cr
- CESC Ltd (CESC): — | PE — | MCap —
- IndiGrid Infrastructure Trust (INDIGRID): — | PE 28.1 | MCap ₹16,717 Cr
- Clean Max Enviro Energy Solutions Ltd (CLEANMAX): ₹1403 | PE — | MCap —
- Gujarat State Petronet Ltd (GSPL): — | PE 14.4 | MCap ₹15,175 Cr
- Juniper Green Energy Limited (JNPR): — | PE 378.6 | MCap ₹15,079 Cr
- Fujiyama Power Systems Ltd (UTLSOLAR): ₹439.8 | PE 46.0 | MCap ₹13,497 Cr
- Vedanta Power Limited (VEDPOWER): — | PE — | MCap ₹13,251 Cr
- Jaiprakash Power Ventures Ltd (JPPOWER): — | PE 23.4 | MCap ₹11,082 Cr
- Mahanagar Gas Ltd (MGL): ₹1086 | PE — | MCap —
- Reliance Power Ltd (RPOWER): — | PE — | MCap —
- POWERGRID Infrastructure Investment Trust (PGINVIT): — | PE — | MCap —
- Waaree Renewable Technologies Ltd (WAAREERTL): ₹836.25 | PE — | MCap —
- Borosil Renewables Ltd (BORORENEW): ₹503.3 | PE — | MCap —
- Inox Green Energy Services Ltd (INOXGREEN): — | PE — | MCap —
- Vikram Solar Ltd (VIKRAMSOLR): — | PE 16.8 | MCap ₹6,053 Cr
- KPI Green Energy Ltd (KPIGREEN): ₹295.55 | PE 12.4 | MCap ₹5,676 Cr
- Saatvik Green Energy Ltd (SAATVIKGL): ₹411.5 | PE 21.2 | MCap ₹5,230 Cr
- PTC India Ltd (PTC): — | PE — | MCap —
- Sterling and Wilson Renewable Energy Ltd (SWSOLAR): — | PE — | MCap —
- RattanIndia Power Ltd (RTNPOWER): — | PE 34.6 | MCap ₹3,898 Cr
- Websol Energy System Ltd (WEBELSOLAR): — | PE — | MCap —
- Anzen India Energy Yield Plus Trust (ANZEN): — | PE — | MCap —
- Ravindra Energy Ltd (RELTD): — | PE 58.9 | MCap ₹3,160 Cr
- Gujarat Industries Power Company Ltd (GIPCL): — | PE — | MCap —
- Ujaas Energy Ltd (UEL): — | PE 166.0 | MCap ₹2,763 Cr
- GK Energy Ltd (GKENERGY): — | PE 11.4 | MCap ₹2,591 Cr
- Reliance Infrastructure Ltd (RELINFRA): — | PE — | MCap —
- Insolation Energy Ltd (INA): — | PE — | MCap —
- Bajel Projects Ltd (BAJEL): — | PE 76.1 | MCap ₹2,053 Cr
- Onix Solar Energy Ltd (ONIXSOLAR): ₹458.15 | PE — | MCap —
- Solarworld Energy Solutions Ltd (SOLARWORLD): — | PE — | MCap —
- IRM Energy Ltd (IRMENERGY): — | PE — | MCap —
- Indosolar Ltd (WAAREEINDO): — | PE — | MCap —
- Orient Green Power Company Ltd (GREENPOWER): — | PE — | MCap —
- Swelect Energy Systems Ltd-$ (SWELECTES): ₹587.4 | PE — | MCap —
- DPSC Limited (DPSCLTD): — | PE 90.3 | MCap ₹703 Cr
- Concord Enviro Systems Ltd (CEWATER): — | PE — | MCap ₹579 Cr
- Urja Global Ltd (URJA): — | PE 335.0 | MCap ₹476 Cr
- Rajasthan Securities Ltd (RAJSEC): — | PE — | MCap —
- GVK Power & Infrastructure Ltd (GVKPIL): — | PE — | MCap —
- Solarium Green Energy Ltd (SOLARIUM): — | PE 15.3 | MCap ₹311 Cr
- Citizen Infoline Ltd (CIL): — | PE 12.5 | MCap ₹281 Cr
- GRE Renew Enertech Ltd (GRERENEW): — | PE — | MCap —
- Surana Telecom and Power Limited (SURANAT&P): — | PE — | MCap —
- Waaree Technologies Ltd (WAAREE): ₹206.45 | PE — | MCap —
- Indowind Energy Ltd (INDOWIND): — | PE — | MCap —
- Surana Solar Ltd (SURANASOL): — | PE — | MCap —
- Globus Constructors & Developers Ltd (GLOBUSCON): — | PE — | MCap —
- Confidence Futuristic Energetech Ltd (CFEL): — | PE — | MCap —
- Taylormade Renewables Ltd (TRL): — | PE — | MCap —
- Energy Development Company Ltd (ENERGYDEV): — | PE 293.0 | MCap ₹70 Cr
- Gensol Engineering Ltd (GENSOL): — | PE 0.8 | MCap ₹65 Cr
- Waa Solar Ltd (WAA): — | PE — | MCap —
- Karma Energy Ltd (KARMAENG): — | PE — | MCap —
- TCM Ltd (TCMLMTD): — | PE — | MCap —
- Gita Renewable Energy Ltd (GITARENEW): — | PE — | MCap —
- SRM Energy Ltd (SRMENERGY): ₹31.54 | PE — | MCap —
- Veer Energy & Infrastructure Ltd (VEERENRGY): — | PE — | MCap —
- Sterling Powergensys Ltd (STERPOW): — | PE — | MCap —
- IND Renewable Energy Ltd (INDRENEW): — | PE — | MCap —
- Bhagawati Gas Ltd (BHAGGAS): — | PE — | MCap —
- Elango Industries Ltd (ELANGO): ₹12.76 | PE — | MCap —

## Analysis
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.

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Source: rupiya.io/sectors/power
Disclaimer: For research and education only. Not investment advice.