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Indian (NIFTY) Electric Utilities Industry Analysis

UpdatedMay 02, 2026
DataAggregated Company Financials
Companies11
  • 7D-0.03%
  • 3M26.5%
  • 1Y13.6%
  • YTD19.7%

The Electric Utilities industry has been flat over the last week, but Adani Energy Solutions has lost 4.9%. The past year has been better, since the industry has gained 14% in that time. As for the next few years, earnings are expected to grow by 14% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 02 May 2026₹7.7t₹2.2t₹335.4b37.4x22.8x3.5x
Mon, 30 Mar 2026₹6.5t₹2.2t₹335.1b32.5x19.3x3x
Wed, 25 Feb 2026₹6.8t₹2.2t₹335.1b32x20.3x3.1x
Fri, 23 Jan 2026₹6.0t₹2.2t₹298.8b27.8x20.1x2.8x
Sun, 21 Dec 2025₹6.2t₹2.2t₹299.3b30x20.9x2.9x
Tue, 18 Nov 2025₹6.5t₹2.2t₹299.3b30.9x21.7x3x
Thu, 16 Oct 2025₹6.6t₹2.1t₹322.9b31.2x20.5x3.1x
Sat, 13 Sep 2025₹6.4t₹2.1t₹322.9b30.4x19.8x3x
Mon, 11 Aug 2025₹6.3t₹2.1t₹324.2b29.8x19.6x3x
Wed, 09 Jul 2025₹6.8t₹2.1t₹310.9b32.3x21.8x3.2x
Fri, 06 Jun 2025₹6.7t₹2.1t₹310.2b31.6x21.6x3.1x
Sun, 04 May 2025₹6.7t₹2.1t₹258.2b31.9x26x3.2x
Tue, 01 Apr 2025₹6.5t₹2.1t₹255.4b31.8x25.5x3.1x
Thu, 27 Feb 2025₹5.7t₹2.1t₹255.4b29.3x22.5x2.7x
Sat, 25 Jan 2025₹6.4t₹2.1t₹284.9b33x22.6x3.1x
Mon, 23 Dec 2024₹6.9t₹2.1t₹282.7b34.2x24.2x3.3x
Wed, 20 Nov 2024₹6.9t₹2.1t₹282.7b34.8x24.6x3.3x
Fri, 18 Oct 2024₹7.7t₹2.0t₹229.1b39.8x33.5x3.8x
Sun, 15 Sep 2024₹7.6t₹2.0t₹229.1b37.6x33.2x3.7x
Tue, 13 Aug 2024₹7.7t₹2.0t₹223.8b36.5x34.3x3.8x
Thu, 11 Jul 2024₹7.5t₹2.0t₹232.2b40.5x32.4x3.8x
Sat, 08 Jun 2024₹7.1t₹2.0t₹232.2b39.3x30.5x3.6x
Mon, 06 May 2024₹7.2t₹1.9t₹208.5b39.6x34.5x3.8x
Wed, 03 Apr 2024₹6.8t₹1.9t₹208.6b37.3x32.5x3.6x
Fri, 01 Mar 2024₹6.4t₹1.9t₹208.6b30.6x30.7x3.4x
Sun, 28 Jan 2024₹6.0t₹1.9t₹212.7b29.4x28.1x3.2x
Tue, 26 Dec 2023₹5.5t₹1.9t₹213.1b27x25.7x2.9x
Thu, 23 Nov 2023₹4.6t₹1.9t₹213.2b23.4x21.7x2.5x
Sat, 21 Oct 2023₹4.5t₹1.8t₹212.0b22.5x21.1x2.5x
Mon, 18 Sep 2023₹4.5t₹1.8t₹212.0b24x21.4x2.5x
Wed, 16 Aug 2023₹4.2t₹1.8t₹212.1b20x19.6x2.3x
Fri, 14 Jul 2023₹4.0t₹1.8t₹220.7b13.9x18x2.2x
Sun, 11 Jun 2023₹4.1t₹1.8t₹220.9b15.4x18.4x2.2x
Tue, 09 May 2023₹4.1t₹1.8t₹228.4b19.4x17.9x2.3x
Price to Earnings Ratio

17.9x


Total Market Cap: ₹4.1tTotal Earnings: ₹228.4bTotal Revenue: ₹1.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Electric Utilities Industry Price to Earnings3Y Average 24.5x202420252026
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 24.5x.
  • The 3-year average PS ratio of 3.1x is lower than the industry's current PS ratio of 3.5x.
Past Earnings Growth
  • The earnings for companies in the Electric Utilities industry have grown 14% 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 Market0.39%
Utilities0.95%
Electric Utilities-0.033%
Electric Utilities-0.033%
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
500400 Tata Power₹444.552.3%
+₹31.6b		16.5%PE37.4x
TORNTPOWER Torrent Power₹1.74k2.1%
+₹18.4b		16.5%PE27.7x
POWERGRID Power Grid Corporation of India₹318.350.6%
+₹18.1b		4.7%PE19.1x
CESC CESC₹187.533.8%
+₹9.2b		18.0%PE16.8x
SJVN SJVN₹78.981.5%
+₹4.4b		-15.4%PE49.1x

Latest News

ADANIENSOL
₹1,342.25
Adani Energy Solutions
7D
-4.9%
1Y
48.0%
TORNTPOWER
₹1,736.00
Torrent Power
7D
2.1%
1Y
16.5%

TORNTPOWER: Elevated P/E And New Dividend Plans Will Limit Future Upside

Analysts have raised the price target on Torrent Power slightly, from ₹1,190.09 to ₹1,202.96, reflecting updated assumptions around revenue growth, profit margin and future P/E levels. 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 (Key Developments).
500400
₹444.55
Tata Power
7D
2.3%
1Y
16.5%
POWERGRID
₹318.35
Power Grid Corporation of India
7D
0.6%
1Y
4.7%

POWERGRID: Dividend Momentum And Subsidiary Merger Simplification Will Support Future Upside

Analysts have made a small reduction in their price target for Power Grid Corporation of India to around ₹378 from about ₹379, citing updated assumptions that keep revenue growth and margins broadly in line with prior expectations while slightly adjusting the future P/E input. What's in the News Vamsi Rama Mohan Burra has been appointed Managing Director, after previously serving as Director (Projects) and holding senior roles across projects, procurement, regulatory affairs, asset management and telecom.
SJVN
₹78.98
SJVN
7D
1.5%
1Y
-15.4%

SJVN: New CFO And Solar Milestone Will Support Future Earnings Quality

Analysts now keep the SJVN price target unchanged at ₹97, reflecting slightly lower revenue growth, profit margin, and future P/E assumptions compared with the prior inputs. What's in the News Appointment of Shri Parthajit De as Chief Financial Officer and Key Managerial Personnel with effect from April 10, 2026, following approval by the Board of Directors of SJVN Limited (Company filing) Shri Parthajit De currently serves as Director, Finance at SJVN, bringing almost 30 years of post-qualification experience across corporate accounts, taxation, trusts, contracts and tariff regulations (Company filing) SJVN Limited reports that Shri Sipan Kumar Garg ceases to hold the additional charge of Chief Financial Officer of the company (Company filing) SJVN's 1,000 MW Bikaner Solar Power Project, implemented through SJVN Green Energy Limited, has generated 1 billion units of energy as of March 20, 2026, after achieving commercial operation on December 24, 2025 (Company filing) The Bikaner project, developed under the CPSU Scheme Phase II, Tranche III of the Ministry of New and Renewable Energy, supplies power to Rajasthan, Jammu & Kashmir and Uttarakhand at a tariff of ₹2.57 per unit and is projected to reduce carbon emissions by around 2.78 million tonnes over its operating life (Company filing) Valuation Changes Fair Value: Kept unchanged at ₹97.0 per share, indicating no revision to the central valuation output.
CHAMUNDA
₹45.25
Chamunda Electrical
7D
3.2%
1Y
-3.8%
540565
₹172.15
Indigrid Infrastructure Trust
7D
-0.04%
1Y
17.2%
523222
₹19.67
SRM Energy
7D
-5.0%
1Y
73.0%
BAJEL
₹188.32
Bajel Projects
7D
3.7%
1Y
11.5%
DPSCLTD
₹10.05
India Power
7D
3.8%
1Y
-20.6%
532219
₹17.25
Energy Development
7D
-0.9%
1Y
-6.3%
CESC
₹187.53
CESC
7D
3.8%
1Y
18.0%
500390
₹78.96
Reliance Infrastructure
7D
-5.0%
1Y
-68.5%