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Indian (NIFTY) Heavy Electrical Equipment Industry Analysis

UpdatedNov 25, 2025
DataAggregated Company Financials
Companies26
  • 7D-0.3%
  • 3M6.3%
  • 1Y1.9%
  • YTDn/a

Over the last 7 days, the Heavy Electrical Equipment industry has remained flat, although notably Siemens Energy India declined by 5.2%. Furthermore, the industry has been flat for the past year as well. Looking forward, earnings are forecast to grow by 28% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 30 Nov 2025₹6.5t₹931.7b₹106.6b46.6x60.8x7x
Tue, 28 Oct 2025₹6.2t₹905.5b₹91.2b48.5x68.3x6.9x
Thu, 25 Sep 2025₹6.4t₹866.2b₹87.0b45.7x73.8x7.4x
Sat, 23 Aug 2025₹6.2t₹866.2b₹87.0b42.7x71.6x7.2x
Mon, 21 Jul 2025₹6.4t₹818.3b₹82.1b43.9x77.7x7.8x
Wed, 18 Jun 2025₹5.3t₹745.1b₹72.1b46.4x73x7.1x
Fri, 16 May 2025₹5.0t₹739.7b₹60.7b51.1x82.2x6.7x
Sun, 13 Apr 2025₹4.2t₹729.6b₹58.8b42.5x71x5.7x
Tue, 11 Mar 2025₹4.2t₹729.9b₹58.5b45.9x71.1x5.7x
Thu, 06 Feb 2025₹4.5t₹718.4b₹55.3b56.6x80.5x6.2x
Sat, 04 Jan 2025₹5.2t₹671.9b₹49.5b76.7x105.1x7.7x
Mon, 02 Dec 2024₹5.2t₹670.8b₹49.4b77.5x105.4x7.8x
Wed, 30 Oct 2024₹5.3t₹656.4b₹46.6b77.2x113.7x8.1x
Fri, 27 Sep 2024₹5.8t₹623.4b₹41.5b79.2x140.3x9.3x
Sun, 25 Aug 2024₹5.7t₹620.2b₹41.3b81.8x137x9.1x
Tue, 23 Jul 2024₹5.0t₹592.0b₹34.8b81.9x144.9x8.5x
Thu, 20 Jun 2024₹5.1t₹591.8b₹34.7b80.2x147.3x8.6x
Sat, 18 May 2024₹4.9t₹579.2b₹29.3b57.4x167.5x8.5x
Mon, 15 Apr 2024₹4.1t₹559.6b₹23.8b53.7x170.9x7.3x
Wed, 13 Mar 2024₹3.6t₹559.6b₹23.8b56.2x153.5x6.5x
Fri, 09 Feb 2024₹3.5t₹548.4b₹21.0b71x165.1x6.3x
Sun, 07 Jan 2024₹3.2t₹542.0b₹18.6b45.7x170.8x5.9x
Tue, 05 Dec 2023₹2.9t₹540.6b₹18.5b59x156.8x5.4x
Thu, 02 Nov 2023₹2.3t₹531.4b₹21.3b53.1x110.2x4.4x
Sat, 30 Sep 2023₹2.3t₹525.0b₹19.8b62.3x116.5x4.4x
Mon, 28 Aug 2023₹2.2t₹524.9b₹19.7b55.7x111.3x4.2x
Wed, 26 Jul 2023₹2.1t₹511.9b₹41.7b41.2x50.2x4.1x
Fri, 23 Jun 2023₹1.9t₹511.0b₹41.5b30.8x46.9x3.8x
Sun, 21 May 2023₹1.6t₹455.5b₹10.6b29.1x152.2x3.5x
Tue, 18 Apr 2023₹1.3t₹447.4b₹8.3b27.3x161.8x3x
Thu, 16 Mar 2023₹1.3t₹447.4b₹8.3b22.8x162.9x3x
Sat, 11 Feb 2023₹1.3t₹439.8b₹6.6b29.6x196.4x2.9x
Mon, 09 Jan 2023₹1.2t₹438.0b₹6.6b34.9x188.6x2.9x
Wed, 07 Dec 2022₹1.3t₹437.0b₹6.6b35x197.1x3x
Price to Earnings Ratio

197.1x


Total Market Cap: ₹1.3tTotal Earnings: ₹6.6bTotal Revenue: ₹437.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Heavy Electrical Equipment Industry Price to Earnings3Y Average 120.5x202320242025
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 60.8x which is lower than its 3-year average PE of 121x.
  • The 3-year average PS ratio of 6.1x is lower than the industry's current PS ratio of 7.0x.
Past Earnings Growth
  • The earnings for companies in the Heavy Electrical Equipment industry have grown 152% per year over the last three years.
  • Revenues for these companies have grown 29% 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 Market0.41%
Industrials0.15%
Electrical-0.81%
Heavy Electrical Equipment-0.33%
Electrical Components-1.37%
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?

CompanyLast Price7D1YValuation
500103 Bharat Heavy Electricals₹290.652.9%
+₹28.7b		15.8%PE181.2x
POWERINDIA Hitachi Energy India₹22.06k2.3%
+₹22.0b		84.1%PE137.1x
500002 ABB India₹5.17k1.6%
+₹17.4b		-30.4%PE62x
533553 TD Power Systems₹777.207.3%
+₹8.3b		78.1%PE58.3x
544310 Yash Highvoltage₹497.351.7%
+₹235.5m		n/aPE48.9x

Latest News

ENRIN
₹3,159.60
Siemens Energy India
7D
-5.2%
1Y
n/a
SUZLON
₹54.01
Suzlon Energy
7D
-2.0%
1Y
-14.2%

SUZLON: Upcoming CFO Appointment And Record Renewable Order Will Accelerate Performance

Suzlon Energy's analyst price target has been slightly raised from ₹73.9 to ₹74.4. This adjustment reflects analysts' modest optimism, driven by marginal improvements in valuation metrics and discount rates. What's in the News The Board of Suzlon Energy will meet on October 29, 2025 to discuss the appointment of Mr. Rahul Jain as Chief Financial Officer, effective December 15, along with other business matters (Board Meeting).
500002
₹5,172.60
ABB India
7D
1.6%
1Y
-30.4%

500002: Local Manufacturing Expansion And Efficiency Upgrades Will Balance Future Prospects

Analysts have lowered their price target for ABB India from ₹5,438 to ₹5,263, reflecting cautious adjustments based on updated assumptions for profit margin and forward valuation metrics. What's in the News ABB India expanded local production with a new line for energy-efficient drives at its Peenya factory in Bengaluru, increasing variable speed drives production capacity by around 25%.
POWERINDIA
₹22,056.00
Hitachi Energy India
7D
2.3%
1Y
84.1%
INOXWIND
₹134.50
Inox Wind
7D
-2.4%
1Y
-29.6%

We Think That There Are Issues Underlying Inox Wind's (NSE:INOXWIND) Earnings

Nov 22
We Think That There Are Issues Underlying Inox Wind's (NSE:INOXWIND) Earnings
522275
₹2,880.40
GE Vernova T&D India
7D
-0.8%
1Y
64.3%

522275: Planned Facility Expansion And Dividend Will Drive Future Upside

Analysts have raised their price target for GE Vernova T&D India from ₹3,079.75 to ₹3,538.50, citing modest improvements in the company's revenue growth outlook and a lower discount rate. These factors together support a higher valuation.
VDEAL
₹246.00
Vdeal System
7D
9.0%
1Y
72.6%
505700
₹504.55
Elecon Engineering
7D
-1.8%
1Y
-13.8%

505700: Steady Margins And 2026 Outlook Will Sustain Fair Value Momentum

Analysts have maintained their fair value estimate for Elecon Engineering at ₹725, citing stability in key underlying assumptions such as the discount rate, revenue growth, profit margin, and future price-to-earnings estimates. What's in the News Elecon Engineering provided consolidated earnings guidance for 2026, expecting consolidated revenue of INR 26,500 million (Corporate Guidance).
QPOWER
₹745.00
Quality Power Electrical Equipments
7D
-4.8%
1Y
n/a

Quality Power Electrical Equipments' (NSE:QPOWER) Profits May Not Reveal Underlying Issues

Nov 20
Quality Power Electrical Equipments' (NSE:QPOWER) Profits May Not Reveal Underlying Issues
532930
₹429.50
BGR Energy Systems
7D
0.4%
1Y
1,014.4%
533553
₹777.20
TD Power Systems
7D
7.3%
1Y
78.1%
500103
₹290.65
Bharat Heavy Electricals
7D
2.9%
1Y
15.8%
PARTH
₹242.65
Parth Electricals & Engineering
7D
1.0%
1Y
n/a
ATLANTAELE
₹944.60
Atlanta Electricals
7D
-2.5%
1Y
n/a
544310
₹497.35
Yash Highvoltage
7D
1.7%
1Y
n/a
IWEL
₹10,652.00
Inox Wind Energy
7D
-5.2%
1Y
50.1%