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Indian (NIFTY) Heavy Electrical Equipment Industry Analysis

UpdatedApr 27, 2026
DataAggregated Company Financials
Companies29
  • 7D7.7%
  • 3M53.6%
  • 1Y54.6%
  • YTDn/a

In the last week, the Heavy Electrical Equipment industry is up 7.7%, with Hitachi Energy India up 11%. In the same time, BGR Energy Systems was down 12%. This means that the industry has gained 55% over the past year. As for the next few years, earnings are expected to grow by 29% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 27 Apr 2026₹8.3t₹995.6b₹111.0b34.5x74.6x8.3x
Wed, 25 Mar 2026₹6.5t₹965.2b₹109.6b30.1x59.1x6.7x
Fri, 20 Feb 2026₹6.4t₹962.5b₹110.5b36.6x58x6.7x
Sun, 18 Jan 2026₹5.6t₹913.8b₹104.2b36.3x53.7x6.1x
Tue, 16 Dec 2025₹6.3t₹913.6b₹104.5b45.4x60.8x6.9x
Thu, 13 Nov 2025₹6.7t₹923.0b₹105.5b47.9x63.8x7.3x
Sat, 11 Oct 2025₹6.3t₹904.0b₹91.1b41.5x69.7x7x
Mon, 08 Sep 2025₹6.2t₹871.7b₹87.5b41.6x71x7.1x
Wed, 06 Aug 2025₹6.5t₹824.2b₹83.9b44.2x77x7.8x
Fri, 04 Jul 2025₹6.4t₹817.3b₹81.1b44.4x79.5x7.9x
Sun, 01 Jun 2025₹5.5t₹784.2b₹73.6b47.2x75.3x7.1x
Tue, 29 Apr 2025₹4.6t₹731.9b₹59.2b47.4x77.9x6.3x
Thu, 27 Mar 2025₹4.4t₹729.6b₹58.8b42.9x74.8x6x
Sat, 22 Feb 2025₹4.2t₹729.9b₹58.5b51.6x72.1x5.8x
Mon, 20 Jan 2025₹4.8t₹672.1b₹49.5b64.8x97.3x7.2x
Wed, 18 Dec 2024₹5.5t₹670.8b₹49.4b80.8x112.1x8.2x
Fri, 15 Nov 2024₹4.8t₹668.3b₹49.3b60.4x97.4x7.2x
Sun, 13 Oct 2024₹5.9t₹623.4b₹41.5b86.2x142.4x9.5x
Tue, 10 Sep 2024₹5.4t₹623.5b₹41.5b75.7x130.4x8.7x
Thu, 08 Aug 2024₹5.4t₹610.1b₹38.1b72.2x141.2x8.8x
Sat, 06 Jul 2024₹5.5t₹592.0b₹34.8b114.6x158.8x9.3x
Mon, 03 Jun 2024₹5.0t₹591.7b₹34.7b60.8x142.7x8.4x
Wed, 01 May 2024₹4.3t₹565.2b₹24.4b64.2x177.2x7.7x
Fri, 29 Mar 2024₹3.9t₹559.6b₹23.8b54.2x162.2x6.9x
Sun, 25 Feb 2024₹3.6t₹559.6b₹23.8b61.4x152.5x6.5x
Tue, 23 Jan 2024₹3.3t₹542.0b₹18.6b59.9x176.2x6.1x
Thu, 21 Dec 2023₹2.9t₹540.6b₹18.5b55.1x154.8x5.3x
Sat, 18 Nov 2023₹2.7t₹540.6b₹18.5b55.8x144.7x5x
Mon, 16 Oct 2023₹2.4t₹525.0b₹19.8b55.5x119.3x4.5x
Wed, 13 Sep 2023₹2.3t₹525.0b₹19.8b55.1x115.6x4.4x
Fri, 11 Aug 2023₹2.2t₹520.8b₹18.3b54.2x119.8x4.2x
Sun, 09 Jul 2023₹2.0t₹511.0b₹41.5b34.2x49.1x4x
Tue, 06 Jun 2023₹1.8t₹510.8b₹41.4b26.1x43.3x3.5x
Thu, 04 May 2023₹1.5t₹448.5b₹8.5b31.8x171.9x3.3x
Price to Earnings Ratio

171.9x


Total Market Cap: ₹1.5tTotal Earnings: ₹8.5bTotal Revenue: ₹448.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Heavy Electrical Equipment Industry Price to Earnings3Y Average 105.3x202420252026
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 74.6x which is lower than its 3-year average PE of 105x.
  • The 3-year average PS ratio of 6.6x is lower than the industry's current PS ratio of 8.3x.
Past Earnings Growth
  • The earnings for companies in the Heavy Electrical Equipment industry have grown 135% per year over the last three years.
  • Revenues for these companies have grown 30% 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-0.91%
Industrials0.62%
Electrical5.16%
Heavy Electrical Equipment7.68%
Electrical Components1.99%
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
POWERINDIA Hitachi Energy India₹32.20k11.3%
+₹146.0b		138.5%PE170.6x
522275 GE Vernova T&D India₹4.60k11.1%
+₹117.5b		210.5%PE110.3x
500103 Bharat Heavy Electricals₹337.356.5%
+₹71.9b		52.1%PE144.3x
ENRIN Siemens Energy India₹3.21k6.1%
+₹66.1b		n/aPE96.6x
500002 ABB India₹7.33k4.2%
+₹62.9b		33.3%PE93x

Latest News

505700
₹512.10
Elecon Engineering
7D
24.1%
1Y
-0.9%

505700: Fair Value View Will Rely On Board Meeting And New CFO

Analysts have revised their price target for Elecon Engineering from ₹575.50 to ₹525.50, reflecting updated assumptions on the discount rate, revenue growth, profit margins and future P/E multiples. What's in the News A board meeting is scheduled for 15 Apr 2026 to consider and approve the audited financial results for the quarter and financial year ended 31 Mar 2026, including segment-wise financials (Key Developments).
500002
₹7,327.00
ABB India
7D
4.2%
1Y
33.3%
522275
₹4,598.75
GE Vernova T&D India
7D
11.1%
1Y
210.5%

522275: Higher Assumed Margins And Growth Will Likely Prove Overly Optimistic

Analysts have lifted their price target on GE Vernova T&D India from ₹3,057 to ₹3,104, citing updated assumptions that now reflect higher revenue growth, a stronger profit margin profile, and a lower discount rate, alongside a reduced future P/E estimate. What's in the News Board meeting on Jan 28, 2026 to consider and approve unaudited financial results for the quarter and period ended Dec 31, 2025 (company filing) Special shareholders meeting on Mar 20, 2026 via postal ballot in India to consider reappointing Mr. Sandeep Zanzaria as managing director and CEO, appointing Ms. Rashmi Joshi as an independent director, and other business matters (company filing) Board meeting on Mar 18, 2026 to approve the appointment of M/s.
POWERINDIA
₹32,200.00
Hitachi Energy India
7D
11.3%
1Y
138.5%

POWERINDIA: Future Returns Will Be Constrained By Margin Pressure Despite Revenue Optimism

Analysts now set their price target for Hitachi Energy India at approximately ₹18,409, a very small change from about ₹18,400. This reflects updated views on revenue growth, profit margins and future P/E assumptions.
SPCL
₹82.45
Shivalic Power Control
7D
-4.4%
1Y
-38.6%
517467
₹161.00
Marsons
7D
-3.7%
1Y
-7.9%
531215
₹137.30
RTS Power
7D
-3.3%
1Y
-30.3%
540614
₹0.52
G G Engineering
7D
-7.1%
1Y
-33.3%
AKANKSHA
₹73.00
Akanksha Power and Infrastructure
7D
-3.3%
1Y
-25.6%
VDEAL
₹181.00
Vdeal System
7D
-6.2%
1Y
33.6%
ATLANTAELE
₹1,778.50
Atlanta Electricals
7D
29.3%
1Y
n/a
ENRIN
₹3,205.10
Siemens Energy India
7D
6.1%
1Y
n/a
533203
₹24.36
Tarapur Transformers
7D
-7.0%
1Y
-16.0%
533553
₹1,112.20
TD Power Systems
7D
11.6%
1Y
165.7%
500103
₹337.35
Bharat Heavy Electricals
7D
6.5%
1Y
52.1%
532930
₹309.95
BGR Energy Systems
7D
-11.5%
1Y
213.5%