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Indian (NIFTY) Electric Utilities Industry Analysis

UpdatedJul 02, 2026
DataAggregated Company Financials
Companies12
  • 7D-1.1%
  • 3M11.5%
  • 1Y5.0%
  • YTD11.7%

Over the last 7 days, the Electric Utilities industry has dropped 1.8%, driven by Tata Power declining 4.5%. Over the past 12 months, the industry was up 4.5%. Earnings are forecast to grow by 14% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 02 Jul 2026₹7.3t₹2.2t₹299.2b37.4x24.5x3.3x
Sat, 30 May 2026₹7.3t₹2.2t₹298.8b35.9x24.6x3.4x
Mon, 27 Apr 2026₹7.7t₹2.2t₹335.4b36.6x22.8x3.5x
Wed, 25 Mar 2026₹6.5t₹2.2t₹335.1b32.4x19.5x3x
Fri, 20 Feb 2026₹6.6t₹2.2t₹335.1b31.1x19.7x3.1x
Sun, 18 Jan 2026₹6.1t₹2.2t₹299.3b28.9x20.3x2.8x
Tue, 16 Dec 2025₹6.3t₹2.2t₹299.3b30.1x21x2.9x
Thu, 13 Nov 2025₹6.4t₹2.2t₹321.0b30.6x19.9x2.9x
Sat, 11 Oct 2025₹6.5t₹2.1t₹322.9b30.7x20.2x3x
Mon, 08 Sep 2025₹6.3t₹2.1t₹322.9b30.4x19.5x2.9x
Wed, 06 Aug 2025₹6.4t₹2.2t₹326.6b30.3x19.6x3x
Fri, 04 Jul 2025₹6.7t₹2.1t₹310.9b32.2x21.7x3.1x
Sun, 01 Jun 2025₹6.6t₹2.1t₹310.2b30.8x21.2x3.1x
Tue, 29 Apr 2025₹6.9t₹2.1t₹258.2b33.3x26.7x3.2x
Thu, 27 Mar 2025₹6.5t₹2.1t₹255.4b32x25.3x3.1x
Sat, 22 Feb 2025₹5.8t₹2.1t₹255.4b30.2x22.8x2.8x
Mon, 20 Jan 2025₹6.6t₹2.1t₹282.5b33.2x23.4x3.2x
Wed, 18 Dec 2024₹7.2t₹2.1t₹282.7b36.5x25.5x3.5x
Fri, 15 Nov 2024₹7.0t₹2.1t₹238.9b37.7x29.1x3.4x
Sun, 13 Oct 2024₹7.6t₹2.0t₹229.1b39.7x33.3x3.8x
Tue, 10 Sep 2024₹7.4t₹2.0t₹229.1b35.6x32.3x3.6x
Thu, 08 Aug 2024₹7.9t₹2.0t₹223.5b37.2x35.3x3.9x
Sat, 06 Jul 2024₹7.4t₹2.0t₹232.2b39.6x32x3.8x
Mon, 03 Jun 2024₹7.2t₹2.0t₹207.3b38.6x34.8x3.7x
Wed, 01 May 2024₹7.1t₹1.9t₹208.6b39.5x34x3.8x
Fri, 29 Mar 2024₹6.5t₹1.9t₹208.6b35.2x31.3x3.4x
Sun, 25 Feb 2024₹6.5t₹1.9t₹208.6b31.5x31x3.4x
Tue, 23 Jan 2024₹5.9t₹1.9t₹212.7b28.5x27.7x3.2x
Thu, 21 Dec 2023₹5.4t₹1.9t₹213.1b26.7x25.1x2.9x
Sat, 18 Nov 2023₹4.6t₹1.9t₹213.2b23.6x21.7x2.5x
Mon, 16 Oct 2023₹4.5t₹1.8t₹212.0b23.1x21.2x2.5x
Wed, 13 Sep 2023₹4.5t₹1.8t₹212.1b19.9x21.1x2.5x
Fri, 11 Aug 2023₹4.2t₹1.8t₹217.8b19.9x19.2x2.3x
Sun, 09 Jul 2023₹4.1t₹1.8t₹220.7b14.4x18.6x2.3x
Price to Earnings Ratio

18.6x


Total Market Cap: ₹4.1tTotal Earnings: ₹220.7bTotal Revenue: ₹1.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Electric Utilities Industry Price to Earnings3Y Average 24.8x202420252026
Current Industry PE
  • Investors are relatively neutral on the Indian Electric Utilities industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 24.8x.
  • The industry is trading close to its 3-year average PS ratio of 3.1x.
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 7.3% 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-0.058%
Utilities-0.50%
Electric Utilities-1.05%
Electric Utilities-1.05%
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
ADANIENSOL Adani Energy Solutions₹1.52k1.7%
+₹30.6b		73.1%PE80.1x
VEDPOWER Vedanta Power₹44.211.4%
+₹2.3b		n/aPE543x
CESC CESC₹169.730.2%
+₹437.4m		-4.2%PE14.6x
532219 Energy Development₹17.968.7%
+₹68.4m		-21.6%PS1.8x
523222 SRM Energy₹24.9421.4%
+₹39.9m		78.4%PE51.1x

Latest News

540565
₹176.85
Indigrid Infrastructure Trust
7D
-0.1%
1Y
14.2%
523222
₹24.94
SRM Energy
7D
21.4%
1Y
78.4%
500400
₹375.35
Tata Power
7D
-4.5%
1Y
-7.7%
Narrative Update • Jun 23

500400: Transmission Expansion And Lower Margins Will Likely Cap Future Upside

Analysts have nudged their fair value estimate for Tata Power higher from about ₹302 to roughly ₹314. This reflects updated views on the discount rate, revenue growth, profit margin and future P/E assumptions.
SJVN
₹72.63
SJVN
7D
-0.4%
1Y
-26.6%
Narrative Update • Jun 23

SJVN: Dividend Payouts And New CFO Appointment Will Shape Balanced Outlook

Analysts have adjusted their price target for SJVN from ₹79 to ₹70, citing a lower future P/E assumption while keeping long term growth and margin expectations broadly unchanged. What’s in the News for SJVN SJVN’s Board of Directors met on May 15, 2026 to review financial results for the quarter and year ended March 31, 2026, to consider a final dividend for the 2025-26 financial year, and to review security cover details.
ADANIENSOL
₹1,521.40
Adani Energy Solutions
7D
1.7%
1Y
73.1%
Narrative Update • Jun 23

ADANIENSOL: Rich Future P/E Assumptions Will Outweigh Recent Grid Project Wins

The analyst fair value estimate for Adani Energy Solutions has been revised from ₹1,072 to ₹1,133. Analysts cite updated assumptions on the discount rate, revenue growth, profit margins and future P/E as the basis for this change.
POWERGRID
₹287.55
Power Grid Corporation of India
7D
-1.2%
1Y
-2.5%
Narrative Update • Jun 22

POWERGRID: Upcoming Leadership And Infrastructure Investments Will Support Future Upside Potential

Analysts have nudged their fair value estimate for Power Grid Corporation of India slightly higher, from ₹390.00 to about ₹392.10, citing updated assumptions for revenue growth, profit margins and the stock's future P/E profile. What’s in the News for Power Grid Corporation of India Board meeting on June 10, 2026 approved the appointment of Shri Venkata Subrahamanayam Vallurie, currently Chief General Manager (F&A), as Chief Financial Officer with effect from July 1, 2026, following more than 32 years with Power Grid Corporation of India across multiple finance roles.
TORNTPOWER
₹1,404.50
Torrent Power
7D
-2.7%
1Y
-4.4%
Narrative Update • Jun 18

TORNTPOWER: Future Board Meeting And Dividend Plans Signal Steady Share Outlook

The analyst price target for Torrent Power has inched up slightly from ₹1,460.50 to ₹1,476.64, with analysts pointing to unchanged model assumptions on discount rate, revenue growth and profit margin, along with a marginally higher future P/E multiple as key drivers of the recalibration. What’s in the News for Torrent Power Torrent Power has scheduled a Board meeting on May 12, 2026.
VEDPOWER
₹44.21
Vedanta Power
7D
1.4%
1Y
n/a
DPSCLTD
₹7.21
India Power
7D
-4.8%
1Y
-45.2%
CHAMUNDA
₹43.95
Chamunda Electrical
7D
5.8%
1Y
0.1%
BAJEL
₹192.72
Bajel Projects
7D
-4.3%
1Y
-16.6%
532219
₹17.96
Energy Development
7D
8.7%
1Y
-21.6%
500390
₹73.90
Reliance Infrastructure
7D
-5.0%
1Y
-81.4%
CESC
₹169.73
CESC
7D
0.2%
1Y
-4.2%
Analysis Article • May 09

Analysts Are Updating Their CESC Limited (NSE:CESC) Estimates After Its Annual Results

CESC Limited ( NSE:CESC ) came out with its yearly results last week, and we wanted to see how the business is...