Indian Utilities Strong Balance Sheet Stocks

IRM Energy

Market Cap: ₹11.8b

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

VA Tech Wabag

Market Cap: ₹79.9b

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: ₹52.3b

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

Advance Metering Technology

Market Cap: ₹401.0m

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

Shivamshree Businesses

Market Cap: ₹116.0m

Engages electric power generation using solar energy.

Veer Energy & Infrastructure

Market Cap: ₹261.0m

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

Indowind Energy

Market Cap: ₹2.5b

Generates and distributes power through windmills in India.

Gujarat State Petronet

Market Cap: ₹183.4b

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

Karma Energy

Market Cap: ₹596.8m

Generates power from renewable energy sources in India.

SG Mart

Market Cap: ₹39.3b

Engages in the trading of building material products in India.

Positron Energy

Market Cap: ₹2.8b

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

Jayshree Chemicals

Market Cap: ₹254.3m

Primarily engages in the chemical trading business in India.

Mahanagar Gas

Market Cap: ₹133.0b

Operates as a natural gas distribution company in India.

Gujarat Gas

Market Cap: ₹312.2b

Engages in the distribution of natural gas in India.

Reliance Infrastructure

Market Cap: ₹100.9b

An infrastructure company, generates, transmits, and distributes electrical power to residential, industrial, commercial, and other consumers in India.

Indraprastha Gas

Market Cap: ₹269.6b

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

India Power

Market Cap: ₹12.4b

Engages in the generation and distribution of electricity in India.

KPI Green Energy

Market Cap: ₹75.2b

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

Jaiprakash Power Ventures

Market Cap: ₹99.6b

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

Elango Industries

Market Cap: ₹49.8m

Operates as a power generation and distribution company in India.

Gujarat Industries Power

Market Cap: ₹27.6b

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

Torrent Power

Market Cap: ₹775.6b

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

GAIL (India)

Market Cap: ₹1.2t

Operates as a natural gas processing and distribution company in India and internationally.

Chamunda Electrical

Market Cap: ₹517.8m

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

Energy Development

Market Cap: ₹861.2m

Generates and sells electricity from water and wind to various electricity boards in India.

Orient Green Power

Market Cap: ₹14.3b

An independent renewable energy company, owns, develops, and operates a portfolio of wind energy projects in India and Europe.

Adani Power

Market Cap: ₹2.1t

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

Waa Solar

Market Cap: ₹979.4m

Engages in electric power generation and transmission primarily in India.

NLC India

Market Cap: ₹315.2b

Operates in the mining and power generation business in India.