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

## Overview
Market Cap: ₹16,94,766 Cr
Avg P/E: 69.7
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 — | MCap —
- NTPC Ltd (NTPC): ₹298.55 | PE 10.4 | MCap ₹2,89,494 Cr
- Power Grid Corporation of India Ltd (POWERGRID): ₹248.8 | PE 14.6 | MCap ₹2,31,399 Cr
- Adani Green Energy Ltd (ADANIGREEN): — | PE 122.2 | MCap ₹2,21,380 Cr
- Adani Energy Solutions Ltd (ADANIENSOL): — | PE — | MCap —
- Siemens Energy India Ltd (ENRIN): — | PE 80.2 | MCap ₹1,19,333 Cr
- Gail (India) Ltd (GAIL): — | PE 11.1 | MCap ₹1,09,843 Cr
- Tata Power Company Ltd (TATAPOWER): ₹341.7 | PE 28.3 | MCap ₹1,09,185 Cr
- JSW Energy Ltd (JSWENERGY): ₹444.3 | PE 40.1 | MCap ₹81,441 Cr
- NHPC Ltd (NHPC): — | PE 19.1 | MCap ₹72,676 Cr
- NTPC Green Energy Ltd (NTPCGREEN): — | PE 117.5 | MCap ₹70,276 Cr
- Waaree Energies Ltd (WAAREEENER): — | PE — | MCap —
- Torrent Power Ltd (TORNTPOWER): — | PE 27.0 | MCap ₹62,635 Cr
- Adani Total Gas Ltd (ATGL): ₹535.35 | PE 91.8 | MCap ₹58,878 Cr
- Premier Energies Ltd (PREMIERENE): ₹839.2 | PE 22.6 | MCap ₹37,895 Cr
- NLC India Ltd (NLCINDIA): ₹228.6 | PE 9.7 | MCap ₹31,699 Cr
- ACME Solar Holdings Ltd (ACMESOLAR): ₹371.75 | PE 38.4 | MCap ₹26,245 Cr
- Gujarat Gas Ltd (GUJGASLTD): — | PE — | MCap —
- GUJARAT ENERGY LIMITED (GUJENERGY): ₹217.79 | PE 9.7 | MCap ₹20,434 Cr
- Indraprastha Gas Ltd (IGL): — | PE 15.5 | MCap ₹19,720 Cr
- SJVN Ltd (SJVN): — | PE — | MCap —
- CESC Ltd (CESC): — | PE — | MCap —
- Emmvee Photovoltaic Power Ltd (EMMVEE): ₹242.15 | PE 11.7 | MCap ₹16,765 Cr
- Clean Max Enviro Energy Solutions Ltd (CLEANMAX): — | PE — | MCap —
- IndiGrid Infrastructure Trust (INDIGRID): — | PE — | MCap —
- Gujarat State Petronet Ltd (GSPL): — | PE 14.9 | MCap ₹15,674 Cr
- Juniper Green Energy Limited (JNPR): ₹229.9 | PE 249.9 | MCap ₹13,081 Cr
- Karamtara Engineering Ltd (KARAMTARA): — | PE 52.4 | MCap ₹11,987 Cr
- Vedanta Power Limited (VEDPOWER): — | PE — | MCap —
- Fujiyama Power Systems Ltd (UTLSOLAR): ₹362.45 | PE 36.8 | MCap ₹11,139 Cr
- Mahanagar Gas Ltd (MGL): ₹1036.6 | PE 14.3 | MCap ₹10,239 Cr
- Jaiprakash Power Ventures Ltd (JPPOWER): — | PE 25.4 | MCap ₹9,581 Cr
- POWERGRID Infrastructure Investment Trust (PGINVIT): — | PE — | MCap —
- Reliance Power Ltd (RPOWER): — | PE — | MCap —
- Waaree Renewable Technologies Ltd (WAAREERTL): ₹658.5 | PE 14.8 | MCap ₹6,873 Cr
- Borosil Renewables Ltd (BORORENEW): ₹385.65 | PE 14.1 | MCap ₹5,676 Cr
- KPI Green Energy Ltd (KPIGREEN): ₹286.6 | PE 12.4 | MCap ₹5,665 Cr
- Inox Green Energy Services Ltd (INOXGREEN): — | PE — | MCap —
- Vikram Solar Ltd (VIKRAMSOLR): — | PE 13.1 | MCap ₹4,783 Cr
- Saatvik Green Energy Ltd (SAATVIKGL): ₹354 | PE 26.1 | MCap ₹4,500 Cr
- Anzen India Energy Yield Plus Trust (ANZEN): — | PE — | MCap —
- PTC India Ltd (PTC): — | PE 8.2 | MCap ₹4,152 Cr
- Steamhouse India Ltd (STEAMHOUSE): — | PE — | MCap —
- Sterling and Wilson Renewable Energy Ltd (SWSOLAR): — | PE — | MCap —
- RattanIndia Power Ltd (RTNPOWER): — | PE — | MCap —
- Websol Energy System Ltd (WEBELSOLAR): — | PE — | MCap —
- Ravindra Energy Ltd (RELTD): — | PE — | MCap —
- Gujarat Industries Power Company Ltd (GIPCL): — | PE — | MCap —
- Ujaas Energy Ltd (UEL): — | PE 1,750.0 | MCap ₹2,334 Cr
- Reliance Infrastructure Ltd (RELINFRA): — | PE — | MCap —
- GK Energy Ltd (GKENERGY): — | PE — | MCap —
- Bajel Projects Ltd (BAJEL): — | PE — | MCap —
- Insolation Energy Ltd (INA): — | PE 7.3 | MCap ₹1,470 Cr
- Onix Solar Energy Ltd (ONIXSOLAR): ₹312.5 | PE 3.2 | MCap ₹1,152 Cr
- Solarworld Energy Solutions Ltd (SOLARWORLD): — | PE 8.2 | MCap ₹972 Cr
- IRM Energy Ltd (IRMENERGY): ₹233.9 | PE 13.1 | MCap ₹960 Cr
- Orient Green Power Company Ltd (GREENPOWER): — | PE 14.6 | MCap ₹941 Cr
- Swelect Energy Systems Ltd-$ (SWELECTES): ₹600.1 | PE 21.5 | MCap ₹932 Cr
- Indosolar Ltd (WAAREEINDO): ₹197.47 | PE 6.6 | MCap ₹822 Cr
- DPSC Limited (DPSCLTD): — | PE 72.3 | MCap ₹563 Cr
- Concord Enviro Systems Ltd (CEWATER): ₹227.3 | PE — | MCap ₹470 Cr
- Rajasthan Securities Ltd (RAJSEC): — | PE 6.9 | MCap ₹461 Cr
- Urja Global Ltd (URJA): — | PE — | MCap —
- GRE Renew Enertech Ltd (GRERENEW): — | PE 20.3 | MCap ₹350 Cr
- GVK Power & Infrastructure Ltd (GVKPIL): — | PE — | MCap —
- Citizen Infoline Ltd (CIL): — | PE — | MCap —
- Solarium Green Energy Ltd (SOLARIUM): — | PE 12.4 | MCap ₹253 Cr
- Waaree Technologies Ltd (WAAREE): — | PE — | MCap —
- Surana Telecom and Power Limited (SURANAT&P): — | PE — | MCap —
- Globus Constructors & Developers Ltd (GLOBUSCON): — | PE — | MCap —
- Indowind Energy Ltd (INDOWIND): — | PE — | MCap —
- Surana Solar Ltd (SURANASOL): — | PE 16.9 | MCap ₹107 Cr
- Confidence Futuristic Energetech Ltd (CFEL): — | PE 13.7 | MCap ₹98 Cr
- Taylormade Renewables Ltd (TRL): — | PE 83.7 | MCap ₹74 Cr
- Energy Development Company Ltd (ENERGYDEV): — | PE — | MCap —
- Waa Solar Ltd (WAA): — | PE 86.4 | MCap ₹56 Cr
- Gensol Engineering Ltd (GENSOL): — | PE 0.8 | MCap ₹44 Cr
- Karma Energy Ltd (KARMAENG): — | PE — | MCap —
- TCM Ltd (TCMLMTD): — | PE — | MCap —
- SRM Energy Ltd (SRMENERGY): — | PE — | MCap —
- Gita Renewable Energy Ltd (GITARENEW): — | PE — | MCap ₹27 Cr
- Veer Energy & Infrastructure Ltd (VEERENRGY): — | PE 47.9 | MCap ₹20 Cr
- IND Renewable Energy Ltd (INDRENEW): — | PE — | MCap —
- Sterling Powergensys Ltd (STERPOW): — | PE 9.9 | MCap ₹12 Cr
- Bhagawati Gas Ltd (BHAGGAS): — | PE — | MCap —
- Elango Industries Ltd (ELANGO): — | 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.