Indian Utilities Strong Balance Sheet Stocks

ZR2 Bioenergy

Market Cap: ₹1.1b

Operates as a bioenergy manufacturing company.

VA Tech Wabag

Market Cap: ₹87.8b

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: ₹48.7b

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

Positron Energy

Market Cap: ₹2.0b

Distributes and sells coal bed methane and natural gas in India and internationally.

IRM Energy

Market Cap: ₹13.0b

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

Gujarat Gas

Market Cap: ₹277.7b

Engages in the distribution of natural gas in India.

Mahanagar Gas

Market Cap: ₹123.8b

Operates as a natural gas distribution company in India.

Advance Metering Technology

Market Cap: ₹381.7m

Engages in energy generation, measurement, and management through renewable sources in India.

Veer Energy & Infrastructure

Market Cap: ₹229.2m

Develops, constructs, implements, and operates various projects in the renewable energy sector in India.

Gujarat State Petronet

Market Cap: ₹170.5b

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

Jaiprakash Power Ventures

Market Cap: ₹121.7b

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

Globus Power Generation

Market Cap: ₹1.5b

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

Indraprastha Gas

Market Cap: ₹297.7b

Distributes and sells natural gas in India.

Chamunda Electrical

Market Cap: ₹559.6m

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

Karma Energy

Market Cap: ₹647.7m

Engages in the generation of power from renewable sources in India.

Bajel Projects

Market Cap: ₹22.1b

Engages in the engineering, procurement, and construction (EPC) for power transmission and distribution projects in India and internationally.

SG Mart

Market Cap: ₹45.4b

Trades in building material products in India and internationally.

Elango Industries

Market Cap: ₹44.5m

Operates as a power generation and distribution company in India.

Torrent Power

Market Cap: ₹655.6b

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

GVK Power & Infrastructure

Market Cap: ₹5.0b

Engages in the energy, transportation, hospitality, and life sciences businesses in India and Indonesia.

India Power

Market Cap: ₹10.9b

Engages in the generation and distribution of electricity in India.

Orient Green Power

Market Cap: ₹15.6b

An independent power producer of renewable power, engages in the generation and sale of wind energy in India and Croatia.

K.P. Energy

Market Cap: ₹26.9b

Provides balance of plant solutions for wind energy sector in India.

KPI Green Energy

Market Cap: ₹92.6b

Operates as an independent power producer that focuses on the development, construction, ownership, operation, and maintenance of renewable energy projects under Solarism brand name in India.

Adani Power

Market Cap: ₹3.0t

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.

Indowind Energy

Market Cap: ₹2.2b

Generates and distributes power through windmills in India.

KKV Agro Powers

Market Cap: ₹351.7m

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