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Indian (NIFTY) Electric Utilities Industry Analysis

UpdatedJan 12, 2026
DataAggregated Company Financials
Companies11
  • 7D-6.2%
  • 3M-6.0%
  • 1Y-3.5%
  • YTD-3.6%

Over the last 7 days, the Electric Utilities industry has dropped 6.2%, driven by pullbacks from every company within the industry. Overall the industry is down 3.5% in 12 months. Earnings are forecast to grow by 15% annually.

Industry Valuation and Performance

Has the Indian Electric Utilities Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 13 Jan 2026₹6.1t₹2.2t₹299.3b28.8x20.5x2.9x
Thu, 11 Dec 2025₹6.2t₹2.2t₹299.3b29.9x20.8x2.9x
Sat, 08 Nov 2025₹6.4t₹2.2t₹320.0b31x20x3x
Mon, 06 Oct 2025₹6.5t₹2.1t₹322.9b36.5x20.2x3x
Wed, 03 Sep 2025₹6.3t₹2.1t₹322.9b30.4x19.6x2.9x
Fri, 01 Aug 2025₹6.5t₹2.2t₹325.7b32x20x3x
Sun, 29 Jun 2025₹6.9t₹2.1t₹310.9b32.4x22x3.2x
Tue, 27 May 2025₹6.7t₹2.1t₹312.1b30.7x21.5x3.1x
Thu, 24 Apr 2025₹7.0t₹2.1t₹255.4b34.4x27.4x3.3x
Sat, 22 Mar 2025₹6.4t₹2.1t₹255.4b32x25.1x3x
Mon, 17 Feb 2025₹5.7t₹2.1t₹255.4b30x22.4x2.7x
Wed, 15 Jan 2025₹6.3t₹2.1t₹282.5b32.3x22.3x3x
Fri, 13 Dec 2024₹7.3t₹2.1t₹282.7b37.9x25.8x3.5x
Sun, 10 Nov 2024₹7.2t₹2.1t₹239.2b40.4x30.2x3.5x
Tue, 08 Oct 2024₹7.4t₹2.0t₹229.1b38x32.5x3.7x
Thu, 05 Sep 2024₹7.5t₹2.0t₹229.1b36.4x32.9x3.7x
Sat, 03 Aug 2024₹8.2t₹2.0t₹228.4b39.8x35.7x4.1x
Mon, 01 Jul 2024₹7.3t₹2.0t₹232.2b39.3x31.4x3.7x
Wed, 29 May 2024₹7.2t₹1.9t₹207.2b37.7x34.6x3.7x
Fri, 26 Apr 2024₹6.9t₹1.9t₹208.6b38.9x33.3x3.7x
Sun, 24 Mar 2024₹6.5t₹1.9t₹208.6b34.1x30.9x3.4x
Tue, 20 Feb 2024₹6.5t₹1.9t₹208.6b32.3x31x3.4x
Thu, 18 Jan 2024₹5.8t₹1.9t₹213.0b28.7x27.4x3.1x
Sat, 16 Dec 2023₹5.6t₹1.9t₹213.2b29.8x26.3x3x
Mon, 13 Nov 2023₹4.6t₹1.9t₹214.1b22.7x21.4x2.5x
Wed, 11 Oct 2023₹4.5t₹1.8t₹212.0b23.1x21x2.4x
Fri, 08 Sep 2023₹4.5t₹1.8t₹212.1b20x21.1x2.5x
Sun, 06 Aug 2023₹4.2t₹1.8t₹219.4b16.5x19.1x2.3x
Tue, 04 Jul 2023₹4.0t₹1.8t₹220.9b13.8x18.2x2.2x
Thu, 01 Jun 2023₹3.8t₹1.8t₹243.8b12.5x15.7x2.1x
Sat, 29 Apr 2023₹4.1t₹1.8t₹230.0b18.4x17.8x2.3x
Mon, 27 Mar 2023₹4.0t₹1.8t₹230.0b17.6x17.5x2.3x
Wed, 22 Feb 2023₹3.7t₹1.8t₹230.0b19x16.2x2.1x
Fri, 20 Jan 2023₹5.9t₹1.7t₹216.8b22x27x3.5x
Price to Earnings Ratio

27x


Total Market Cap: ₹5.9tTotal Earnings: ₹216.8bTotal Revenue: ₹1.7tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Electric Utilities Industry Price to Earnings3Y Average 24.3x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian Electric Utilities 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 20.5x which is lower than its 3-year average PE of 24.4x.
  • The industry is trading close to its 3-year average PS ratio of 3.0x.
Past Earnings Growth
  • The earnings for companies in the Electric Utilities industry have grown 11% per year over the last three years.
  • Revenues for these companies have grown 8.7% 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 Utilities industry?

IN Market-2.80%
Utilities-5.51%
Electric Utilities-6.17%
Electric Utilities-6.17%
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
No data available

Latest News

DPSCLTD
₹9.07
India Power
7D
-9.4%
1Y
-39.4%
ADANIENSOL
₹950.90
Adani Energy Solutions
7D
-9.0%
1Y
38.1%

ADANIENSOL: Future Margin Strength And Projects Will Support Superior Risk Reward Profile

Analysts have kept their fair value estimate for Adani Energy Solutions unchanged at ₹1,290. They cited small adjustments to revenue growth, profit margin expectations, and future P/E assumptions that offset each other in their updated model.
SJVN
₹80.53
SJVN
7D
-8.1%
1Y
-11.1%

SJVN: New CFO Appointment Will Support Long Term Earnings Quality

Analysts have kept their fair value estimate for SJVN steady at ₹97.0. The updated price target reflects a balance of higher modeled revenue growth at 65.87% and a lower profit margin of 23.20%, alongside a slight tweak to the discount rate and a reduced future P/E assumption. What's in the News SJVN's board approved the appointment of Shri Sipan Kumar Garg as Chief Financial Officer and Key Managerial Personnel, bringing over 23 years of finance, accounts, taxation, and commercial experience in the power sector to the company (Key Developments).
500400
₹370.40
Tata Power
7D
-4.7%
1Y
8.9%

500400: Transmission Expansion Will Drive Long Term Upside Potential

Analysts have maintained their fair value estimate for Tata Power at ₹510.0 while slightly adjusting key model inputs such as the discount rate, revenue growth, profit margin, and future P/E. This reflects updated assumptions rather than a change in their overall price target view.
POWERGRID
₹258.55
Power Grid Corporation of India
7D
-4.8%
1Y
-10.1%

POWERGRID: Planned Bond Issue Will Support Long Term Upside Potential

Narrative Update on Power Grid Corporation of India Analysts have trimmed their price target slightly for Power Grid Corporation of India, with revised fair value moving from ₹312.26 to about ₹311.65, citing updated assumptions that pair more moderate revenue growth with a marginally higher profit margin and a slight adjustment to future P/E expectations. What's in the News Energy Efficiency Services Ltd.
CESC
₹163.26
CESC
7D
-5.9%
1Y
7.4%
TORNTPOWER
₹1,351.10
Torrent Power
7D
-3.8%
1Y
3.2%

TORNTPOWER: Medium-Term Expansion Plans Will Support Balanced Risk Reward Ahead

Analysts have raised their price target on Torrent Power from ₹1,050 to ₹1,210, citing stronger expected revenue growth despite slightly higher discount rates and moderating profit margins, which are still seen as compatible with a higher forward P/E multiple. What's in the News Torrent Power has scheduled an Analyst and Investor Day, where management is expected to outline medium term growth plans and capital allocation priorities.
500390
₹148.80
Reliance Infrastructure
7D
-5.0%
1Y
-46.4%