Indian Utilities Strong Balance Sheet Stocks

Positron Energy

Market Cap: ₹2.3b

Engages in the distribution and sale of coal bed methane/natural gas, and other allied services and activities in India and internationally.

VA Tech Wabag

Market Cap: ₹90.9b

Engages in the design, supply, installation, construction, operation, and maintenance of drinking water, waste and industrial water treatment, and desalination plants in India and internationally.

PTC India

Market Cap: ₹56.5b

Engages in the trading and generating of power in India, Nepal, Bhutan, and Bangladesh.

Mahanagar Gas

Market Cap: ₹146.1b

Operates as a natural gas distribution company in India.

Gujarat Gas

Market Cap: ₹326.7b

Engages in the distribution of natural gas in India.

Advance Metering Technology

Market Cap: ₹466.1m

Engages in the energy generation, measurement, and management activities in India.

Veer Energy & Infrastructure

Market Cap: ₹269.2m

Engages in the development, construction, implementation, and operation of renewable energy and other infrastructure projects in India.

Gujarat State Petronet

Market Cap: ₹187.1b

Gujarat State Petronet Limited transmits natural gas through pipeline on an open access basis from supply points to demand centers in India.

Globus Power Generation

Market Cap: ₹1.6b

A clean energy company, engages in the acquisition of a portfolio of wind/biomass/solar power plants in India.

IRM Energy

Market Cap: ₹12.6b

A city gas distribution company, engages in the laying, building, operating, and expanding of city and local natural gas distribution network in India.

Indraprastha Gas

Market Cap: ₹307.7b

Engages in the distribution and sale of natural gas in India.

KPI Green Energy

Market Cap: ₹109.8b

Generates and supplies solar power under Solarism brand name in India.

Jaiprakash Power Ventures

Market Cap: ₹162.8b

Engages in the power generation and cement grinding businesses in India and internationally.

Karma Energy

Market Cap: ₹820.7m

Generates power from renewable energy sources in India.

Bajel Projects

Market Cap: ₹28.8b

Engages in the engineering, procurement, and construction business in the power transmission and distribution sectors in India and internationally.

Elango Industries

Market Cap: ₹42.0m

Operates as a power generation and distribution company in India.

Gujarat Industries Power

Market Cap: ₹32.6b

Engages in the generation, transmission, and distribution of electricity to power purchasing companies in India.

Torrent Power

Market Cap: ₹702.5b

Engages in the generation, renewables, transmission and distribution of electricity in India.

Chamunda Electrical

Market Cap: ₹502.4m

Engages in the operation, maintenance, testing, and commissioning of electrical substations in India.

India Power

Market Cap: ₹13.6b

Engages in the generation and distribution of electricity in India.

Indowind Energy

Market Cap: ₹2.5b

Generates and distributes power through windmills in India.

K.P. Energy

Market Cap: ₹35.1b

Provides balance of plant solutions for wind industry in India.

Adani Power

Market Cap: ₹2.3t

Engages in the generation, transmission, and sale of electricity under long term power purchase agreements (PPAs), supplemental PPAs, medium and short term PPAs, and on merchant basis in India.

KKV Agro Powers

Market Cap: ₹375.5m

Operates as a precious metals and renewable energy generation and trading company in India.