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Indian (NIFTY) Electric Utilities Industry Analysis

UpdatedMar 06, 2026
DataAggregated Company Financials
Companies11
  • 7D-2.0%
  • 3M4.8%
  • 1Y11.6%
  • YTD3.9%

Over the last 7 days, the Electric Utilities industry has dropped 2.0%, driven by Torrent Power declining 5.4%. This takes the industry's 12 month performance to a gain of 12%. 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
Sat, 07 Mar 2026₹6.6t₹2.2t₹335.1b31.7x19.8x3.1x
Mon, 02 Feb 2026₹5.8t₹2.2t₹335.0b27.9x17.5x2.7x
Wed, 31 Dec 2025₹6.2t₹2.2t₹299.3b29.5x20.8x2.9x
Fri, 28 Nov 2025₹6.4t₹2.2t₹299.3b30.9x21.4x3x
Sun, 26 Oct 2025₹6.6t₹2.2t₹323.6b31.3x20.5x3.1x
Tue, 23 Sep 2025₹6.6t₹2.1t₹322.9b31.1x20.4x3.1x
Thu, 21 Aug 2025₹6.5t₹2.1t₹322.9b30.7x20x3x
Sat, 19 Jul 2025₹6.7t₹2.1t₹310.9b32.7x21.7x3.1x
Mon, 16 Jun 2025₹6.6t₹2.1t₹310.9b32x21.2x3.1x
Wed, 14 May 2025₹6.7t₹2.1t₹258.2b32.5x25.9x3.1x
Fri, 11 Apr 2025₹6.5t₹2.1t₹255.4b32.7x25.3x3.1x
Sun, 09 Mar 2025₹5.9t₹2.1t₹255.4b29.4x23.2x2.8x
Tue, 04 Feb 2025₹6.1t₹2.1t₹284.6b34.9x21.5x2.9x
Thu, 02 Jan 2025₹6.8t₹2.1t₹282.7b33.6x24.2x3.3x
Sat, 30 Nov 2024₹7.1t₹2.1t₹282.7b35.3x25.1x3.4x
Mon, 28 Oct 2024₹7.3t₹2.1t₹238.6b40.4x30.4x3.5x
Wed, 25 Sep 2024₹8.0t₹2.0t₹229.1b40.3x34.9x3.9x
Fri, 23 Aug 2024₹7.6t₹2.0t₹229.1b36.1x33.2x3.7x
Sun, 21 Jul 2024₹7.3t₹2.0t₹232.2b40x31.4x3.7x
Tue, 18 Jun 2024₹7.3t₹2.0t₹232.2b41.9x31.4x3.7x
Thu, 16 May 2024₹7.0t₹2.0t₹209.7b36.4x33.5x3.6x
Sat, 13 Apr 2024₹6.8t₹1.9t₹208.6b40x32.8x3.6x
Mon, 11 Mar 2024₹6.7t₹1.9t₹208.6b33.8x32.1x3.5x
Wed, 07 Feb 2024₹6.5t₹1.9t₹211.2b30.4x30.8x3.5x
Fri, 05 Jan 2024₹5.9t₹1.9t₹213.1b27.8x27.6x3.2x
Sun, 03 Dec 2023₹4.9t₹1.9t₹213.2b24.7x23x2.6x
Tue, 31 Oct 2023₹4.4t₹1.8t₹212.0b21.7x20.7x2.4x
Thu, 28 Sep 2023₹4.5t₹1.8t₹212.0b23.6x21.3x2.5x
Sat, 26 Aug 2023₹4.3t₹1.8t₹212.1b19.9x20.1x2.3x
Mon, 24 Jul 2023₹4.0t₹1.8t₹220.7b14.5x18.2x2.2x
Wed, 21 Jun 2023₹4.1t₹1.8t₹220.9b15x18.5x2.3x
Fri, 19 May 2023₹3.8t₹1.8t₹228.8b19.6x16.6x2.2x
Sun, 16 Apr 2023₹4.0t₹1.8t₹230.0b17.9x17.5x2.3x
Tue, 14 Mar 2023₹3.9t₹1.8t₹230.0b18.5x17x2.2x
Price to Earnings Ratio

17x


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 24.3x202420252026
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 19.8x which is lower than its 3-year average PE of 24.3x.
  • 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 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-3.41%
Utilities-2.99%
Electric Utilities-1.99%
Electric Utilities-1.99%
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
POWERGRID Power Grid Corporation of India₹299.150.2%
+₹4.7b		13.6%PE17.9x
500390 Reliance Infrastructure₹93.553.4%
+₹1.3b		-60.9%PE0.6x

Latest News

540565
₹164.50
Indigrid Infrastructure Trust
7D
-1.1%
1Y
16.6%
TORNTPOWER
₹1,481.30
Torrent Power
7D
-5.4%
1Y
11.2%

TORNTPOWER: Dividend Plans And Debenture Issue Will Support Measured Forward Outlook

Analysts have increased their price target on Torrent Power from ₹1,525 to ₹1,571. This reflects updated assumptions that combine higher projected revenue growth with slightly lower profit margins and a modestly reduced future P/E multiple.
ADANIENSOL
₹992.50
Adani Energy Solutions
7D
-1.9%
1Y
32.8%

ADANIENSOL: New Subsidiaries And Governance Steps Will Support Measured Future Expansion

Analysts have trimmed their price target for Adani Energy Solutions from about ₹1,161.60 to roughly ₹1,123.83, citing updated assumptions around the discount rate, revenue growth, profit margin and future P/E that now point to a slightly lower fair value estimate. What's in the News A board meeting is scheduled on Jan 22, 2026 to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025 (company filing).
500400
₹375.45
Tata Power
7D
-0.5%
1Y
6.9%

500400: Expanding Transmission Network Will Support Long Term Upside Potential

Analysts have nudged their price target on Tata Power to ₹510, reflecting slightly updated views on revenue growth, profit margin and future P/E assumptions, while keeping the overall fair value level unchanged at ₹510. What's in the News The company has commissioned two 765 kV EHV transmission corridors in Uttar Pradesh under the SEUPPTCL project, adding 574 circuit kilometres that support evacuation of over 3,000 MW of thermal power and contribute to grid reliability across the northern region (Client Announcements).
SJVN
₹70.99
SJVN
7D
-2.8%
1Y
-19.1%

SJVN: Upcoming Dividend Decision And Debt Issue Will Support Bullish Outlook

Analysts have trimmed their price target on SJVN from ₹87.33 to ₹84.67, pointing to slightly adjusted fair value assumptions, a marginally lower discount rate, stable revenue growth expectations, a small improvement in profit margin, and a reduced future P/E multiple. What's in the News SJVN has scheduled a Board meeting on Feb 11, 2026 to review financial results for the quarter ended Dec 31, 2025.
POWERGRID
₹299.15
Power Grid Corporation of India
7D
0.2%
1Y
13.6%

POWERGRID: Dividend Momentum And Subsidiary Merger Moves Will Support Upside Potential

Analysts have raised their fair value estimate for Power Grid Corporation of India from ₹375.00 to approximately ₹381.77, citing updated assumptions for the discount rate, revenue growth, profit margins, and future P/E as the main factors behind the revised price target. What's in the News A board meeting is scheduled for January 30, 2026 to review unaudited financial results for the quarter and nine months ended December 31, 2025, and to consider a 2nd interim dividend for FY 2025-26, if any (company filing).
DPSCLTD
₹9.13
India Power
7D
-2.5%
1Y
-27.3%
CESC
₹153.57
CESC
7D
-2.9%
1Y
9.0%
BAJEL
₹146.29
Bajel Projects
7D
-9.4%
1Y
-16.2%
500390
₹93.55
Reliance Infrastructure
7D
3.4%
1Y
-60.9%