Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Indian (NIFTY) Electrical Industry Analysis

UpdatedApr 08, 2026
DataAggregated Company Financials
Companies135
  • 7D4.7%
  • 3M-1.5%
  • 1Y24.6%
  • YTD0.7%

ABB India is up 8.4%, leading the way for the Electrical industry, which has gained 4.7%. This takes the industry's 12 month performance to a gain of 25%. Earnings are forecast to grow by 24% annually.

Industry Valuation and Performance

Has the Indian Electrical Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 08 Apr 2026₹12.0t₹2.8t₹240.0b24.6x50.2x4.3x
Fri, 06 Mar 2026₹12.4t₹2.8t₹238.2b23.6x52.2x4.5x
Sun, 01 Feb 2026₹11.3t₹2.7t₹232.9b24.2x48.3x4.2x
Tue, 30 Dec 2025₹11.8t₹2.6t₹224.8b29.7x52.4x4.5x
Thu, 27 Nov 2025₹12.3t₹2.6t₹223.4b33.3x55x4.8x
Sat, 25 Oct 2025₹12.1t₹2.5t₹202.8b36.2x59.5x4.9x
Mon, 22 Sep 2025₹12.6t₹2.4t₹195.1b38.6x64.3x5.2x
Wed, 20 Aug 2025₹11.9t₹2.4t₹194.4b38.2x61.3x4.9x
Fri, 18 Jul 2025₹12.2t₹2.3t₹189.4b41.3x64.4x5.3x
Sun, 15 Jun 2025₹10.8t₹2.3t₹180.6b41.6x59.8x4.7x
Tue, 13 May 2025₹10.1t₹2.2t₹169.1b37.8x59.4x4.5x
Thu, 10 Apr 2025₹8.7t₹2.2t₹164.3b35.3x53x4x
Sat, 08 Mar 2025₹9.1t₹2.2t₹163.4b35.4x55.9x4.2x
Mon, 03 Feb 2025₹9.9t₹2.1t₹159.8b44.3x61.9x4.6x
Wed, 01 Jan 2025₹11.4t₹2.0t₹153.1b51.4x74.3x5.6x
Fri, 29 Nov 2024₹11.4t₹2.0t₹152.7b48.3x74.6x5.6x
Sun, 27 Oct 2024₹11.1t₹2.0t₹152.7b46.3x72.5x5.6x
Tue, 24 Sep 2024₹12.0t₹1.9t₹149.8b50.1x80.4x6.2x
Thu, 22 Aug 2024₹12.1t₹1.9t₹149.3b52.3x80.7x6.2x
Sat, 20 Jul 2024₹11.0t₹1.8t₹135.2b50.2x81.4x6x
Mon, 17 Jun 2024₹11.4t₹1.8t₹135.8b46.9x83.7x6.1x
Wed, 15 May 2024₹10.1t₹1.8t₹127.5b45.4x78.9x5.5x
Fri, 12 Apr 2024₹8.9t₹1.8t₹119.5b36.7x74.5x5.1x
Sun, 10 Mar 2024₹8.3t₹1.8t₹119.2b37.5x70x4.7x
Tue, 06 Feb 2024₹7.6t₹1.7t₹114.9b40.9x66.6x4.4x
Thu, 04 Jan 2024₹7.4t₹1.7t₹111.0b36.4x66.9x4.4x
Sat, 02 Dec 2023₹6.9t₹1.7t₹110.8b35.5x62.1x4.1x
Mon, 30 Oct 2023₹6.0t₹1.7t₹103.3b36.8x58.2x3.6x
Wed, 27 Sep 2023₹6.2t₹1.6t₹98.5b37.2x62.8x3.8x
Fri, 25 Aug 2023₹5.9t₹1.6t₹97.1b32.5x60.7x3.7x
Sun, 23 Jul 2023₹5.5t₹1.6t₹116.2b30.7x47.5x3.6x
Tue, 20 Jun 2023₹5.1t₹1.5t₹113.4b27.9x45x3.3x
Thu, 18 May 2023₹4.5t₹1.5t₹82.1b23.9x54.7x3.1x
Sat, 15 Apr 2023₹3.9t₹1.4t₹76.9b22.3x51.3x2.8x
Price to Earnings Ratio

51.3x


Total Market Cap: ₹3.9tTotal Earnings: ₹76.9bTotal Revenue: ₹1.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Electrical Industry Price to Earnings3Y Average 63.7x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian Electrical industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 50.2x which is lower than its 3-year average PE of 63.7x.
  • The industry is trading close to its 3-year average PS ratio of 4.7x.
Past Earnings Growth
  • The earnings for companies in the Electrical industry have grown 46% per year over the last three years.
  • Revenues for these companies have grown 25% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Indian Industrials industry?

IN Market4.18%
Industrials5.74%
Electrical4.70%
Electrical Components5.86%
Heavy Electrical Equipment3.75%
Industry PE
  • Investors are most optimistic about the Heavy Electrical Equipment industry even though it's trading below its 3-year average PE ratio of 107x.
    • Analysts are expecting annual earnings growth of 27.5%, which is lower than the prior year's growth of 55.9% per year.
  • Investors are most pessimistic about the Electrical Components industry, which is trading below its 3-year average of 50.1x.
Forecasted Growth
  • Analysts are most optimistic on the Heavy Electrical Equipment industry, expecting annual earnings growth of 28% over the next 5 years.
  • However this is lower than its past earnings growth rate of 56% per year.
  • In contrast, the Electrical Components industry is expected to see its earnings grow by 18% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
500002 ABB India₹6.56k8.4%
+₹107.2b		30.4%PE83.3x
POLYCAB Polycab India₹7.60k9.8%
+₹101.7b		51.9%PE43.6x
CGPOWER CG Power and Industrial Solutions₹726.306.8%
+₹72.4b		31.8%PE102.8x
500103 Bharat Heavy Electricals₹265.805.6%
+₹49.1b		25.5%PE113.7x
SUZLON Suzlon Energy₹44.237.6%
+₹42.7b		-13.6%PE18.8x

Latest News

HAVELLS
₹1,246.40
Havells India
7D
5.1%
1Y
-15.2%
POLYCAB
₹7,600.50
Polycab India
7D
9.8%
1Y
51.9%

POLYCAB: Leadership Reappointments And Fair Value View Will Shape Balanced Outlook

Analysts have trimmed their fair value estimate for Polycab India from about ₹7,024 to roughly ₹6,799, citing updated assumptions around revenue growth, profit margins and future P/E expectations. What's in the News Polycab India has scheduled a Special or Extraordinary Shareholders Meeting for February 22, 2026 at 17:00 Indian Standard Time, to be conducted via postal ballot in India (Key Developments).
500002
₹6,564.65
ABB India
7D
8.4%
1Y
30.4%

500002: Capacity Expansion And Metro Contracts Will Sustain Margins And Premium Profile

Analysts have maintained their fair value estimate for ABB India at ₹6,025.88 per share, with small adjustments to inputs such as a slightly lower discount rate and modest tweaks to revenue growth, profit margin, and future P/E assumptions reflected in the updated price target model. What's in the News ABB India plans to invest a further US$75 million in 2026 to expand manufacturing and R&D in India, building on more than US$35 million planned for 2025 and over US$230 million invested in the prior decade to support its local manufacturing strategy and create around 300 new skilled jobs (Key Developments).
CGPOWER
₹726.30
CG Power and Industrial Solutions
7D
6.8%
1Y
31.8%

CGPOWER: Landmark Data Center Win Will Likely Not Justify Elevated P/E

Analysts have trimmed their price target on CG Power and Industrial Solutions to ₹472 from ₹479.51, citing updated assumptions around discount rates, slightly higher revenue growth, modestly improved profit margins, and a lower future P/E multiple. What's in the News CG Power and Industrial Solutions secured a landmark order valued at €900 million (about $99.2 million) from Tallgrass Integrated Logistics Solutions LLC, USA, for power transformers for a large scale data center project in the United States.
522275
₹3,726.60
GE Vernova T&D India
7D
-1.9%
1Y
187.4%

522275: Upcoming Governance Decisions And Auditor Appointment Will Support Long Term Upside

Analysts have lifted their fair value estimate for GE Vernova T&D India to ₹4,600 from ₹4,050, reflecting their updated views on the discount rate, revenue growth, profit margin, and future P/E assumptions. What's in the News Board meeting scheduled on Mar 18, 2026, to consider appointing M/s.
POWERINDIA
₹25,915.00
Hitachi Energy India
7D
3.4%
1Y
128.3%

POWERINDIA: New Power Module Partnership Will Support Long Term Upside

Analysts have lifted their price target on Hitachi Energy India from ₹26,600 to ₹28,500, citing updated assumptions on the discount rate, revenue growth, profit margin and future P/E as the key drivers behind the change. What's in the News Hitachi Energy and Pakal Technologies announced a collaboration focused on shared value creation and sustainable growth, centered on integrating Pakal Technologies' Insulated Gate Turn-Off (Thyristor), IGTO(t), silicon power switch into Hitachi Energy's high-voltage power modules portfolio (Key Developments).
ROYALARC
₹157.90
Royal Arc Electrodes
7D
-6.4%
1Y
-10.8%
517569
₹4,504.75
KEI Industries
7D
9.1%
1Y
73.5%

517569: Lower Discount Rate And Interim Dividend Will Shape Balanced Outlook

Analysts have lifted their fair value estimate for KEI Industries from about ₹3,593 to roughly ₹3,866, reflecting updated assumptions around the discount rate, revenue growth, profit margin, and future P/E levels. What's in the News Board meeting on January 21, 2026 to consider and approve unaudited standalone and consolidated results for the quarter and nine months ended December 31, 2025, consider an interim dividend for FY 2025-26, and review a proposal for voluntary delisting from The Calcutta Stock Exchange Limited, subject to approvals (company filing).
SUZLON
₹44.23
Suzlon Energy
7D
7.6%
1Y
-13.6%

SUZLON: Leadership Transition And Green Steel Orders Will Support Future Upside

Narrative Update on Suzlon Energy The analyst price target for Suzlon Energy is now set around ₹62.91, broadly aligned with the prior fair value estimate. Analysts are keeping discount rate, revenue growth, profit margin and future P/E assumptions effectively unchanged while maintaining a constructive stance on the sector.
531472
₹43.14
Cybele Industries
7D
-9.6%
1Y
89.5%
PRECWIRE
₹306.20
Precision Wires India
7D
-0.6%
1Y
138.1%
509488
₹643.00
Graphite India
7D
-0.09%
1Y
43.8%
543172
₹891.45
Cospower Engineering
7D
-2.0%
1Y
17.3%
SPECTRUM
₹1,292.30
Spectrum Electrical Industries
7D
-11.8%
1Y
-24.2%
500103
₹265.80
Bharat Heavy Electricals
7D
5.6%
1Y
25.5%
SAAKSHI
₹191.45
Saakshi Medtech and Panels
7D
-1.8%
1Y
45.3%

Is Saakshi Medtech and Panels (NSE:SAAKSHI) A Risky Investment?

Dec 06
Is Saakshi Medtech and Panels (NSE:SAAKSHI) A Risky Investment?