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Indian (NIFTY) Electric Utilities Industry Analysis

UpdatedApr 03, 2026
DataAggregated Company Financials
Companies11
  • 7D-2.4%
  • 3M-2.4%
  • 1Y-4.6%
  • YTD0.2%

Over the last 7 days, the Electric Utilities industry has dropped 1.9%, driven by a pullback from Adani Energy Solutions of 4.9%. Over the last year, the industry has been flat overall. As for the next few years, earnings are expected to grow by 15% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 03 Apr 2026₹6.4t₹2.2t₹335.1b32.4x19.1x3x
Sun, 01 Mar 2026₹6.7t₹2.2t₹335.1b31.8x20x3.1x
Tue, 27 Jan 2026₹5.8t₹2.2t₹298.7b27.2x19.4x2.7x
Thu, 25 Dec 2025₹6.3t₹2.2t₹299.3b29.9x21.1x2.9x
Sat, 22 Nov 2025₹6.4t₹2.2t₹299.3b30.5x21.5x3x
Mon, 20 Oct 2025₹6.6t₹2.2t₹323.6b31.3x20.4x3.1x
Wed, 17 Sep 2025₹6.5t₹2.1t₹322.9b31.2x20x3x
Fri, 15 Aug 2025₹6.4t₹2.1t₹322.9b30.3x19.7x3x
Sun, 13 Jul 2025₹6.7t₹2.1t₹310.9b31.9x21.7x3.1x
Tue, 10 Jun 2025₹6.8t₹2.1t₹311.0b32x22x3.2x
Thu, 08 May 2025₹6.7t₹2.1t₹258.2b32.1x26.1x3.2x
Sat, 05 Apr 2025₹6.5t₹2.1t₹255.4b32.8x25.6x3.1x
Mon, 03 Mar 2025₹5.6t₹2.1t₹255.4b28.3x21.8x2.6x
Wed, 29 Jan 2025₹6.2t₹2.1t₹284.6b34.8x21.7x2.9x
Fri, 27 Dec 2024₹6.8t₹2.1t₹282.7b34.4x24.1x3.3x
Sun, 24 Nov 2024₹6.9t₹2.1t₹282.7b35.3x24.3x3.3x
Tue, 22 Oct 2024₹7.7t₹2.0t₹229.1b40.3x33.6x3.8x
Thu, 19 Sep 2024₹7.7t₹2.0t₹229.1b39.4x33.4x3.8x
Sat, 17 Aug 2024₹7.6t₹2.0t₹229.1b35.6x33.3x3.8x
Mon, 15 Jul 2024₹7.5t₹2.0t₹232.2b39.6x32.3x3.8x
Wed, 12 Jun 2024₹7.2t₹2.0t₹232.2b41.5x31x3.7x
Fri, 10 May 2024₹6.7t₹2.0t₹209.7b35x31.9x3.4x
Sun, 07 Apr 2024₹6.8t₹1.9t₹208.6b37.8x32.7x3.6x
Tue, 05 Mar 2024₹6.6t₹1.9t₹208.6b32.4x31.7x3.5x
Thu, 01 Feb 2024₹6.3t₹1.9t₹211.2b30.4x29.8x3.4x
Sat, 30 Dec 2023₹5.6t₹1.9t₹213.1b27.3x26.4x3x
Mon, 27 Nov 2023₹4.6t₹1.9t₹213.2b23.1x21.7x2.5x
Wed, 25 Oct 2023₹4.3t₹1.8t₹212.0b21.7x20.5x2.4x
Fri, 22 Sep 2023₹4.6t₹1.8t₹212.0b23.3x21.5x2.5x
Sun, 20 Aug 2023₹4.2t₹1.8t₹212.1b19.9x19.7x2.3x
Tue, 18 Jul 2023₹4.0t₹1.8t₹220.7b13.8x18.1x2.2x
Thu, 15 Jun 2023₹4.1t₹1.8t₹220.9b15x18.4x2.2x
Sat, 13 May 2023₹4.0t₹1.8t₹228.4b19.8x17.5x2.3x
Mon, 10 Apr 2023₹3.9t₹1.8t₹230.0b17.8x16.9x2.2x
Price to Earnings Ratio

16.9x


Total Market Cap: ₹3.9tTotal Earnings: ₹230.0bTotal Revenue: ₹1.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Electric Utilities Industry Price to Earnings3Y Average 24.4x202420252026
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 19.2x 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 3.1x.
Past Earnings Growth
  • The earnings for companies in the Electric Utilities industry have grown 13% 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-2.08%
Utilities-1.04%
Electric Utilities-2.36%
Electric Utilities-2.36%
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
CESC CESC₹153.250.7%
+₹1.3b		-2.7%PE13.8x
540565 Indigrid Infrastructure Trust₹165.250.1%
+₹181.0m		15.8%PE55.4x

Latest News

ADANIENSOL
₹941.60
Adani Energy Solutions
7D
-4.9%
1Y
6.5%
TORNTPOWER
₹1,332.20
Torrent Power
7D
-4.3%
1Y
-14.2%

TORNTPOWER: Board Actions On Dividend And Funding Will Shape Future Performance

Analysts now peg Torrent Power's fair value slightly lower at about ₹1,415 per share, down from roughly ₹1,420, citing updated assumptions on discount rate, revenue growth, profit margin and future P/E. What's in the News Torrent Power declared an interim dividend of ₹15 per share for fiscal year 2025-26, with a record date of February 16, 2026 and a scheduled payment date of March 12, 2026 (company announcement).
540565
₹165.25
Indigrid Infrastructure Trust
7D
0.1%
1Y
15.8%
POWERGRID
₹289.95
Power Grid Corporation of India
7D
-1.7%
1Y
-3.1%

POWERGRID: Dividend Strength And Subsidiary Merger Plans Will Support Upside

Analysts have trimmed their price target for Power Grid Corporation of India by about ₹2, reflecting slightly adjusted views on fair value, revenue growth assumptions, profit margin expectations and future P/E levels. What's in the News Board meeting on March 19, 2026 to review a revised merger plan to combine 28 wholly owned subsidiaries into 2 other wholly owned subsidiaries, replacing an earlier proposal that covered 11 subsidiaries, along with related merger schemes (Key Developments).
500400
₹384.90
Tata Power
7D
-1.4%
1Y
-0.1%

500400: Grid Modernisation And Transmission Expansion Will Support Long Term Upside Potential

Analysts have kept the fair value estimate for Tata Power unchanged at ₹510, indicating only minor model adjustments in revenue growth, profit margin and forward P/E assumptions, rather than a material shift in their overall view. What's in the News Tata Power announced a collaboration with Salesforce to digitise its rooftop solar, EV charging, and smart home solutions businesses using AI enabled workflows across sales, service, and marketing, including a proprietary deep learning layer for zero touch quality and safety validation under its Solaroof offerings (Client Announcements).
SJVN
₹67.34
SJVN
7D
-0.8%
1Y
-29.7%

SJVN: Future Earnings And Governance Will Be Shaped By Funding And Dividend Decisions

Analysts have trimmed their fair value estimate for SJVN from ₹74.00 to ₹67.00 after updated assumptions for the discount rate, revenue growth, profit margin and future P/E reset expectations around the stock. What's in the News SJVN has scheduled a Board meeting on February 11, 2026, to consider financial results for the quarter ended December 31, 2025.
BAJEL
₹152.31
Bajel Projects
7D
-0.2%
1Y
-9.6%
DPSCLTD
₹7.72
India Power
7D
-2.9%
1Y
-39.7%
CESC
₹153.25
CESC
7D
0.7%
1Y
-2.7%
500390
₹73.53
Reliance Infrastructure
7D
-1.4%
1Y
-72.0%