Indian (NIFTY) Electric Utilities Industry Analysis

Industry Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Sun, 07 Jun 2026	₹7.4t	₹2.2t	₹298.9b	34.9x	24.6x	3.4x
Tue, 05 May 2026	₹7.7t	₹2.2t	₹335.4b	37.2x	23x	3.6x
Thu, 02 Apr 2026	₹6.4t	₹2.2t	₹335.1b	32x	19.2x	3x
Sat, 28 Feb 2026	₹6.7t	₹2.2t	₹335.1b	31.8x	20x	3.1x
Mon, 26 Jan 2026	₹5.8t	₹2.2t	₹298.7b	27.2x	19.4x	2.7x
Wed, 24 Dec 2025	₹6.3t	₹2.2t	₹299.3b	30.1x	21.1x	2.9x
Fri, 21 Nov 2025	₹6.5t	₹2.2t	₹299.3b	30.6x	21.6x	3x
Sun, 19 Oct 2025	₹6.6t	₹2.2t	₹323.6b	31.3x	20.4x	3.1x
Tue, 16 Sep 2025	₹6.4t	₹2.1t	₹322.9b	30.5x	19.9x	3x
Thu, 14 Aug 2025	₹6.4t	₹2.1t	₹322.9b	30.5x	19.8x	3x
Sat, 12 Jul 2025	₹6.8t	₹2.1t	₹310.9b	32.2x	21.9x	3.2x
Mon, 09 Jun 2025	₹6.7t	₹2.1t	₹311.0b	31.8x	21.7x	3.1x
Wed, 07 May 2025	₹6.7t	₹2.1t	₹258.2b	31.3x	26x	3.2x
Fri, 04 Apr 2025	₹6.7t	₹2.1t	₹255.4b	33.1x	26.2x	3.2x
Sun, 02 Mar 2025	₹5.6t	₹2.1t	₹255.4b	28.3x	21.8x	2.6x
Tue, 28 Jan 2025	₹6.2t	₹2.1t	₹284.6b	35.7x	21.9x	3x
Thu, 26 Dec 2024	₹6.8t	₹2.1t	₹282.7b	34.1x	24.1x	3.3x
Sat, 23 Nov 2024	₹6.9t	₹2.1t	₹282.7b	35.3x	24.3x	3.3x
Mon, 21 Oct 2024	₹7.8t	₹2.0t	₹229.1b	40.3x	33.9x	3.8x
Wed, 18 Sep 2024	₹7.6t	₹2.0t	₹229.1b	37.9x	33.2x	3.8x
Fri, 16 Aug 2024	₹7.6t	₹2.0t	₹229.1b	35.2x	33.1x	3.7x
Sun, 14 Jul 2024	₹7.5t	₹2.0t	₹232.2b	39.6x	32.3x	3.8x
Tue, 11 Jun 2024	₹7.1t	₹2.0t	₹232.2b	40.2x	30.5x	3.6x
Thu, 09 May 2024	₹6.9t	₹1.9t	₹208.5b	36.7x	33x	3.6x
Sat, 06 Apr 2024	₹6.8t	₹1.9t	₹208.6b	37.8x	32.7x	3.6x
Mon, 04 Mar 2024	₹6.5t	₹1.9t	₹208.6b	31.8x	31.3x	3.4x
Wed, 31 Jan 2024	₹6.2t	₹1.9t	₹211.2b	30.3x	29.4x	3.3x
Fri, 29 Dec 2023	₹5.6t	₹1.9t	₹213.1b	27.2x	26.2x	3x
Sun, 26 Nov 2023	₹4.6t	₹1.9t	₹213.2b	23.1x	21.7x	2.5x
Tue, 24 Oct 2023	₹4.3t	₹1.8t	₹212.0b	21.7x	20.5x	2.4x
Thu, 21 Sep 2023	₹4.7t	₹1.8t	₹212.0b	23.8x	22x	2.6x
Sat, 19 Aug 2023	₹4.2t	₹1.8t	₹212.1b	19.9x	19.7x	2.3x
Mon, 17 Jul 2023	₹3.9t	₹1.8t	₹220.7b	13.9x	17.8x	2.2x
Wed, 14 Jun 2023	₹4.0t	₹1.8t	₹220.9b	15.2x	18.3x	2.2x

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 24.7x.

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 6.4% 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	-0.83%
Utilities	-1.66%
Electric Utilities	0.19%
Electric Utilities	0.19%

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?

Company	Last Price	7D	1Y	Valuation
ADANIENSOL Adani Energy Solutions	₹1.58k	4.3% +₹78.9b	78.6%	PE83.1x
TORNTPOWER Torrent Power	₹1.46k	2.8% +₹20.1b	3.7%	PE30.4x
500390 Reliance Infrastructure	₹82.07	27.6% +₹7.2b	-77.9%	PE1.2x
BAJEL Bajel Projects	₹200.55	2.6% +₹587.7m	-7.0%	PE114.4x
540565 Indigrid Infrastructure Trust	₹171.97	0.3% +₹543.0m	13.2%	PE41.6x

Company

Last Price

Valuation

ADANIENSOL Adani Energy Solutions

₹1.58k

4.3%
+₹78.9b

78.6%

PE83.1x

TORNTPOWER Torrent Power

₹1.46k

2.8%
+₹20.1b

3.7%

PE30.4x

500390 Reliance Infrastructure

₹82.07

27.6%
+₹7.2b

-77.9%

PE1.2x

BAJEL Bajel Projects

₹200.55

2.6%
+₹587.7m

-7.0%

PE114.4x

540565 Indigrid Infrastructure Trust

₹171.97

0.3%
+₹543.0m

13.2%

PE41.6x

New Risk • May 31

New minor risk - Dividend sustainability

The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.3% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.4% average weekly change). Large one-off items impacting financial results.

Indian (NIFTY) Electric Utilities Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

500400: Bhutan Hydro Expansion And Dividend Plans Will Support A Balanced Outlook

ADANIENSOL: Mumbai HVDC Expansion And Smart Meter Bid Will Shape Balanced Outlook

TORNTPOWER: Future Board Review And Dividend Plans Support Measured Outlook

Full year 2026 earnings released: EPS: ₹0.08 (vs ₹0.072 in FY 2025)

Full year 2026 earnings released: EPS: ₹3.19 (vs ₹4.13 in FY 2025)

New minor risk - Dividend sustainability

New major risk - Negative shareholders equity

POWERGRID: Upcoming Dividend Decision Will Support Future Upside Potential

SJVN: New Finance Leadership Will Support Solar Expansion And Earnings Quality

Reliance Infrastructure Limited to Report Q4, 2026 Results on May 23, 2026

Full year 2026 earnings released: EPS: ₹4.57 (vs ₹4.93 in FY 2025)

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