Analysis Article • Jun 08
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Indian (NIFTY) Heavy Electrical Equipment Industry Analysis
UpdatedJun 12, 2026
DataAggregated Company Financials
Companies28
- 7D-6.8%
- 3M27.4%
- 1Y31.5%
- YTDn/a
Over the last 7 days, the Heavy Electrical Equipment industry has dropped 4.9%, driven by a pullback from Hitachi Energy India of 9.0%. Meanwhile, Quality Power Electrical Equipments actually outperformed within the industry, gaining 14% in the last week. In the past year, the industry has gained 31%. Earnings are forecast to grow by 24% annually.
Industry Valuation and Performance
Has the Indian Heavy Electrical Equipment Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 12 Jun 2026 | ₹8.4t | ₹1.1t | ₹121.7b | 34.6x | 68.9x | 7.8x |
| Sun, 10 May 2026 | ₹8.6t | ₹1.0t | ₹118.9b | 36.7x | 72.1x | 8.3x |
| Tue, 07 Apr 2026 | ₹6.6t | ₹993.3b | ₹111.4b | 31.8x | 58.8x | 6.6x |
| Thu, 05 Mar 2026 | ₹6.5t | ₹965.2b | ₹109.6b | 29.6x | 59x | 6.7x |
| Sat, 31 Jan 2026 | ₹6.1t | ₹934.1b | ₹108.4b | 35.3x | 55.8x | 6.5x |
| Mon, 29 Dec 2025 | ₹6.2t | ₹913.6b | ₹104.5b | 41.3x | 59.1x | 6.8x |
| Wed, 26 Nov 2025 | ₹6.5t | ₹914.6b | ₹104.5b | 46.6x | 62x | 7.1x |
| Fri, 24 Oct 2025 | ₹6.2t | ₹905.4b | ₹91.1b | 48.3x | 68.5x | 6.9x |
| Sun, 21 Sep 2025 | ₹6.5t | ₹866.2b | ₹87.0b | 45.6x | 74.9x | 7.5x |
| Tue, 19 Aug 2025 | ₹6.1t | ₹866.4b | ₹87.0b | 41.8x | 70.4x | 7.1x |
| Thu, 17 Jul 2025 | ₹6.4t | ₹818.3b | ₹82.1b | 44.3x | 77.8x | 7.8x |
| Sat, 14 Jun 2025 | ₹5.4t | ₹780.7b | ₹73.4b | 47.9x | 72.9x | 6.9x |
| Mon, 12 May 2025 | ₹4.5t | ₹734.3b | ₹59.5b | 44.1x | 76x | 6.2x |
| Wed, 09 Apr 2025 | ₹4.1t | ₹729.6b | ₹58.8b | 42.8x | 69.5x | 5.6x |
| Fri, 07 Mar 2025 | ₹4.2t | ₹729.9b | ₹58.5b | 46x | 71.9x | 5.8x |
| Sun, 02 Feb 2025 | ₹4.6t | ₹714.3b | ₹54.8b | 61.6x | 83.9x | 6.4x |
| Tue, 31 Dec 2024 | ₹5.1t | ₹671.9b | ₹49.5b | 70.6x | 103.6x | 7.6x |
| Thu, 28 Nov 2024 | ₹5.2t | ₹670.8b | ₹49.4b | 78.7x | 106.3x | 7.8x |
| Sat, 26 Oct 2024 | ₹5.2t | ₹623.9b | ₹41.6b | 77.9x | 123.8x | 8.3x |
| Mon, 23 Sep 2024 | ₹5.7t | ₹623.4b | ₹41.5b | 74.4x | 136.4x | 9.1x |
| Wed, 21 Aug 2024 | ₹5.7t | ₹620.2b | ₹41.3b | 84.4x | 138.3x | 9.2x |
| Fri, 19 Jul 2024 | ₹5.1t | ₹591.8b | ₹34.8b | 101.3x | 147x | 8.6x |
| Sun, 16 Jun 2024 | ₹5.3t | ₹591.8b | ₹34.7b | 86.2x | 151.5x | 8.9x |
| Tue, 14 May 2024 | ₹4.5t | ₹579.2b | ₹29.3b | 59.2x | 154.4x | 7.8x |
| Thu, 11 Apr 2024 | ₹4.0t | ₹559.6b | ₹23.8b | 55.8x | 170.5x | 7.2x |
| Sat, 09 Mar 2024 | ₹3.8t | ₹559.6b | ₹23.8b | 60.2x | 158.7x | 6.7x |
| Mon, 05 Feb 2024 | ₹3.4t | ₹546.7b | ₹20.4b | 70.1x | 165.8x | 6.2x |
| Wed, 03 Jan 2024 | ₹3.1t | ₹541.6b | ₹18.6b | 50.9x | 168.1x | 5.8x |
| Fri, 01 Dec 2023 | ₹2.8t | ₹540.6b | ₹18.5b | 58.9x | 152.8x | 5.2x |
| Sun, 29 Oct 2023 | ₹2.3t | ₹531.4b | ₹21.3b | 57.4x | 108.8x | 4.4x |
| Tue, 26 Sep 2023 | ₹2.3t | ₹525.0b | ₹19.8b | 60.4x | 114.9x | 4.3x |
| Thu, 24 Aug 2023 | ₹2.2t | ₹524.9b | ₹19.7b | 54x | 112.1x | 4.2x |
| Sat, 22 Jul 2023 | ₹2.1t | ₹511.9b | ₹41.7b | 40.9x | 49.4x | 4x |
| Mon, 19 Jun 2023 | ₹1.9t | ₹511.0b | ₹41.5b | 31x | 46.9x | 3.8x |
Price to Earnings Ratio
46.9x
Current Industry PE
- Investors are pessimistic on the Indian Heavy Electrical Equipment 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 69.7x which is lower than its 3-year average PE of 103x.
- The 3-year average PS ratio of 6.8x is lower than the industry's current PS ratio of 7.9x.
Past Earnings Growth
- The earnings for companies in the Heavy Electrical Equipment industry have grown 43% per year over the last three years.
- Revenues for these companies have grown 28% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Comparison
How does Indian Heavy Electrical Equipment compare with similar industries?
| IN Market | -2.13% | |
| Industrials | -3.08% | |
| Electrical | -5.66% | |
| Heavy Electrical Equipment | -6.82% | |
| Electrical Components | -4.13% | |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| QPOWER Quality Power Electrical Equipments | ₹1.22k | 13.9% +₹11.5b | 143.2% | PE77.9x | |
| INOXWIND Inox Wind | ₹88.03 | 1.4% +₹2.1b | -49.0% | PE37.6x | |
| 544310 Yash Highvoltage | ₹734.75 | 4.5% +₹908.4m | 122.3% | PE56.3x | |
| 505700 Elecon Engineering | ₹535.15 | 0.7% +₹875.2m | -20.2% | PE35.2x | |
| SPCL Shivalic Power Control | ₹70.90 | 1.0% +₹16.9m | -44.3% | PE14.5x |
