Narrative Update • Jul 24
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Indian (NIFTY) Electrical Industry Analysis
UpdatedJul 26, 2026
DataAggregated Company Financials
Companies141
- 7D-1.5%
- 3M3.4%
- 1Y22.9%
- YTD25.6%
The Electrical industry is down 1.5% over the last week with GE Vernova T&D India the worst performer, down 5.3%. On the other hand Diamond Power Infrastructure is actually up 33%. Over the past 12 months, the industry was up 23%. Earnings are forecast to grow by 21% annually.
Industry Valuation and Performance
Has the Indian Electrical Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 26 Jul 2026 | ₹15.1t | ₹3.1t | ₹269.6b | 28.8x | 55.9x | 4.9x |
| Tue, 23 Jun 2026 | ₹16.5t | ₹3.0t | ₹258.0b | 31.7x | 64x | 5.5x |
| Thu, 21 May 2026 | ₹15.2t | ₹2.9t | ₹255.5b | 28.4x | 59.4x | 5.2x |
| Sat, 18 Apr 2026 | ₹13.8t | ₹2.8t | ₹238.6b | 28.3x | 57.9x | 5x |
| Mon, 16 Mar 2026 | ₹12.0t | ₹2.8t | ₹238.2b | 22.9x | 50.4x | 4.4x |
| Wed, 11 Feb 2026 | ₹12.3t | ₹2.7t | ₹239.1b | 26x | 51.3x | 4.5x |
| Fri, 09 Jan 2026 | ₹11.7t | ₹2.6t | ₹225.1b | 27.8x | 51.9x | 4.5x |
| Sun, 07 Dec 2025 | ₹11.8t | ₹2.6t | ₹223.4b | 31.2x | 53x | 4.6x |
| Tue, 04 Nov 2025 | ₹12.5t | ₹2.5t | ₹204.5b | 39.2x | 61x | 5x |
| Thu, 02 Oct 2025 | ₹12.2t | ₹2.4t | ₹196.5b | 36.1x | 62x | 5x |
| Sat, 30 Aug 2025 | ₹11.7t | ₹2.4t | ₹195.0b | 36.8x | 60.2x | 4.8x |
| Mon, 28 Jul 2025 | ₹11.9t | ₹2.3t | ₹191.7b | 41.6x | 62x | 5.1x |
| Wed, 25 Jun 2025 | ₹11.8t | ₹2.2t | ₹179.3b | 40x | 66x | 5.3x |
| Fri, 23 May 2025 | ₹10.6t | ₹2.2t | ₹170.2b | 38.3x | 62.2x | 4.7x |
| Sun, 20 Apr 2025 | ₹9.6t | ₹2.2t | ₹164.3b | 37.9x | 58.2x | 4.4x |
| Tue, 18 Mar 2025 | ₹8.9t | ₹2.2t | ₹163.7b | 33.1x | 54.2x | 4.1x |
| Thu, 13 Feb 2025 | ₹9.3t | ₹2.2t | ₹161.1b | 39.1x | 57.7x | 4.3x |
| Sat, 11 Jan 2025 | ₹10.5t | ₹2.1t | ₹153.5b | 48.1x | 68.3x | 5.1x |
| Mon, 09 Dec 2024 | ₹11.8t | ₹2.0t | ₹152.7b | 50.9x | 77.4x | 5.8x |
| Wed, 06 Nov 2024 | ₹11.2t | ₹2.0t | ₹157.3b | 49.5x | 71.5x | 5.6x |
| Fri, 04 Oct 2024 | ₹12.1t | ₹1.9t | ₹149.7b | 50.3x | 81x | 6.2x |
| Sun, 01 Sep 2024 | ₹11.9t | ₹1.9t | ₹149.4b | 54.2x | 79.7x | 6.1x |
| Tue, 30 Jul 2024 | ₹11.7t | ₹1.9t | ₹139.6b | 52.7x | 83.8x | 6.2x |
| Thu, 27 Jun 2024 | ₹11.4t | ₹1.8t | ₹135.8b | 48.7x | 84.3x | 6.2x |
| Sat, 25 May 2024 | ₹10.8t | ₹1.8t | ₹133.5b | 46.7x | 81.1x | 5.9x |
| Mon, 22 Apr 2024 | ₹8.9t | ₹1.8t | ₹120.6b | 39.9x | 74.1x | 5.1x |
| Wed, 20 Mar 2024 | ₹7.8t | ₹1.8t | ₹119.2b | 33.5x | 65.8x | 4.5x |
| Fri, 16 Feb 2024 | ₹7.8t | ₹1.7t | ₹118.2b | 40.6x | 65.7x | 4.4x |
| Sun, 14 Jan 2024 | ₹7.4t | ₹1.7t | ₹111.1b | 39.2x | 66.5x | 4.3x |
| Tue, 12 Dec 2023 | ₹7.2t | ₹1.7t | ₹110.8b | 36.4x | 64.9x | 4.2x |
| Thu, 09 Nov 2023 | ₹6.3t | ₹1.7t | ₹106.1b | 35.5x | 59.5x | 3.8x |
| Sat, 07 Oct 2023 | ₹6.3t | ₹1.6t | ₹98.6b | 36.8x | 63.8x | 3.8x |
| Mon, 04 Sep 2023 | ₹6.1t | ₹1.6t | ₹95.7b | 35.4x | 63.9x | 3.9x |
| Wed, 02 Aug 2023 | ₹5.6t | ₹1.6t | ₹94.8b | 30.8x | 59.5x | 3.6x |
Price to Earnings Ratio
59.5x
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 55.9x which is lower than its 3-year average PE of 64.7x.
- The industry is trading close to its 3-year average PS ratio of 4.9x.
Past Earnings Growth
- The earnings for companies in the Electrical industry have grown 42% per year over the last three years.
- Revenues for these companies have grown 26% 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 Market | -1.36% | |
| Industrials | -1.43% | |
| Electrical | -1.52% | |
| Electrical Components | -0.042% | |
| Heavy Electrical Equipment | -2.68% | |
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 104x.
- Analysts are expecting annual earnings growth of 22.8%, which is higher than its past year's earnings growth of 20.5% per year.
- Investors are most pessimistic about the Electrical Components industry, which is trading close to its 3-year average of 50.8x.
Forecasted Growth
- Analysts are most optimistic on the Heavy Electrical Equipment industry, expecting annual earnings growth of 23% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- In contrast, the Electrical Components industry is expected to see its earnings grow by 19% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 522163 Diamond Power Infrastructure | ₹295.25 | 32.6% +₹38.3b | 81.3% | PE98.4x | |
| HAVELLS Havells India | ₹1.23k | 3.3% +₹24.9b | -19.5% | PE47.1x | |
| RRKABEL R R Kabel | ₹2.49k | 8.7% +₹22.7b | 78.6% | PE57.3x | |
| SCHNEIDER Schneider Electric Infrastructure | ₹1.35k | 5.8% +₹17.7b | 48.1% | PE152.2x | |
| HEG HEG | ₹643.15 | 9.5% +₹10.8b | 25.2% | PE34.4x |
