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Indian (NIFTY) Electric Utilities Industry Analysis

UpdatedJan 04, 2026
DataAggregated Company Financials
Companies11
  • 7D3.8%
  • 3M0.3%
  • 1Y-5.5%
  • YTDn/a

The Electric Utilities industry has gained 3.8% in the last week and Adani Energy Solutions up 4.2%. However, the industry is down 5.5% over the past year. Looking forward, earnings are forecast to grow by 15% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 05 Jan 2026₹6.5t₹2.2t₹299.3b31x21.9x3x
Wed, 03 Dec 2025₹6.3t₹2.2t₹299.3b30.6x21.2x2.9x
Fri, 31 Oct 2025₹6.7t₹2.2t₹322.2b32.2x20.8x3.1x
Sun, 28 Sep 2025₹6.4t₹2.1t₹322.9b30.2x19.8x3x
Tue, 26 Aug 2025₹6.4t₹2.1t₹322.9b30.2x19.7x3x
Thu, 24 Jul 2025₹6.7t₹2.1t₹310.9b32.4x21.7x3.1x
Sat, 21 Jun 2025₹6.6t₹2.1t₹310.9b31.4x21.2x3.1x
Mon, 19 May 2025₹6.8t₹2.1t₹266.3b32.6x25.6x3.2x
Wed, 16 Apr 2025₹6.8t₹2.1t₹255.4b34.7x26.5x3.2x
Fri, 14 Mar 2025₹6.0t₹2.1t₹255.4b29.3x23.3x2.8x
Sun, 09 Feb 2025₹6.2t₹2.1t₹284.8b34.9x21.9x3x
Tue, 07 Jan 2025₹6.6t₹2.1t₹282.7b33x23.5x3.2x
Thu, 05 Dec 2024₹7.2t₹2.1t₹282.7b36.3x25.3x3.4x
Sat, 02 Nov 2024₹7.5t₹2.1t₹239.1b38.3x31.2x3.6x
Mon, 30 Sep 2024₹8.1t₹2.0t₹229.1b41x35.2x4x
Wed, 28 Aug 2024₹7.6t₹2.0t₹229.1b36.2x33.2x3.7x
Fri, 26 Jul 2024₹7.4t₹2.0t₹232.2b40.2x32x3.8x
Sun, 23 Jun 2024₹7.2t₹2.0t₹232.2b39.4x31.2x3.7x
Tue, 21 May 2024₹7.1t₹2.0t₹209.7b37x34x3.6x
Thu, 18 Apr 2024₹6.7t₹1.9t₹208.6b38.8x32.3x3.6x
Sat, 16 Mar 2024₹6.3t₹1.9t₹208.6b32x30.1x3.3x
Mon, 12 Feb 2024₹6.5t₹1.9t₹208.5b32.7x31.2x3.4x
Wed, 10 Jan 2024₹5.9t₹1.9t₹213.1b28.1x27.8x3.2x
Fri, 08 Dec 2023₹5.7t₹1.9t₹213.2b29.2x26.8x3.1x
Sun, 05 Nov 2023₹4.5t₹1.8t₹212.0b22.2x21.1x2.5x
Tue, 03 Oct 2023₹4.5t₹1.8t₹212.0b23.8x21.4x2.5x
Thu, 31 Aug 2023₹4.3t₹1.8t₹212.1b20x20.3x2.4x
Sat, 29 Jul 2023₹4.3t₹1.8t₹220.7b16.1x19.4x2.4x
Mon, 26 Jun 2023₹4.0t₹1.8t₹220.9b14.5x18.1x2.2x
Wed, 24 May 2023₹3.9t₹1.8t₹230.6b19.8x16.9x2.2x
Fri, 21 Apr 2023₹4.0t₹1.8t₹230.0b17.9x17.4x2.3x
Sun, 19 Mar 2023₹4.0t₹1.8t₹230.0b18.7x17.5x2.3x
Tue, 14 Feb 2023₹4.0t₹1.7t₹227.0b18.6x17.7x2.3x
Thu, 12 Jan 2023₹5.6t₹1.7t₹216.8b22.1x26x3.4x
Price to Earnings Ratio

26x


Total Market Cap: ₹5.6tTotal Earnings: ₹216.8bTotal Revenue: ₹1.7tTotal 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 21.9x 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 3.0x.
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 8.7% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Indian Electric Utilities compare with similar industries?

IN Market1.48%
Utilities4.76%
Electric Utilities3.79%
Electric Utilities3.79%
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₹1.06k4.2%
+₹51.2b		28.8%PE56.3x
POWERGRID Power Grid Corporation of India₹270.952.1%
+₹51.2b		-14.3%PE16.6x
TORNTPOWER Torrent Power₹1.40k7.7%
+₹50.5b		-7.5%PE23.6x
500400 Tata Power₹393.003.6%
+₹43.6b		-0.9%PE31x
SJVN SJVN₹83.0412.0%
+₹35.0b		-23.9%PE58.6x

Latest News

CESC
₹175.37
CESC
7D
5.3%
1Y
-5.7%

CESC's (NSE:CESC) Returns Have Hit A Wall

Jan 04
CESC's (NSE:CESC) Returns Have Hit A Wall
532219
₹20.50
Energy Development
7D
7.6%
1Y
-24.9%
ADANIENSOL
₹1,057.90
Adani Energy Solutions
7D
4.2%
1Y
28.8%

ADANIENSOL: Future Profit Margin Expansion Will Support Stronger Risk Reward Profile

Analysts have raised their price target on Adani Energy Solutions to ₹1,290 per share, highlighting upgraded expectations for revenue growth, a significantly stronger profit margin outlook, and a lower projected future P E multiple, which together support a more favorable risk return profile. What's in the News Diamond Power Infrastructure received a letter of intent from Adani Energy Solutions to supply 7,668 km of AL 59 Zebra conductor for the Khavda transmission project, an order valued at about INR 2,760 crore including tax, to be executed by November 23, 2026 (company announcement).
SJVN
₹83.04
SJVN
7D
12.0%
1Y
-23.9%

SJVN: Finance Leadership Changes Will Guide Steady Earnings And Governance Outlook

Analysts have modestly revised their price target on SJVN upward to Rs 74.00, citing slightly stronger expectations for revenue growth and profit margins, along with a marginally lower projected future P/E multiple. What's in the News The board has approved the appointment of Shri Sipan Kumar Garg as Chief Financial Officer and Key Managerial Personnel, bringing over 23 years of power sector finance and governance experience to SJVN (Board meeting resolution).
500400
₹393.00
Tata Power
7D
3.6%
1Y
-0.9%

500400: Future Margin Pressures Will Likely Undermine Rising Clean Energy Projects

Analysts have modestly raised their price target on Tata Power to INR 294 from INR 282, citing slightly stronger revenue growth expectations despite a small uptick in the discount rate and lower projected profit margins, alongside a higher assumed future P/E multiple. What's in the News Tata Power launched the Energy Insights & Innovation Lab at its Mumbai headquarters in collaboration with the London School of Economics and the International Growth Centre to develop data driven solutions that support India's clean energy transition and grid reliability (strategic alliance).
POWERGRID
₹270.95
Power Grid Corporation of India
7D
2.1%
1Y
-14.3%

POWERGRID: Upcoming Bond Issue Will Support Attractive Long Term Upside Potential

Narrative Update on Power Grid Corporation of India Analysts have marginally reduced their price target on Power Grid Corporation of India by around ₹1 to approximately ₹312 per share. This reflects a slightly more conservative fair value assessment while leaving key assumptions on growth, profitability, and valuation multiples broadly unchanged.
523222
₹16.37
SRM Energy
7D
-8.7%
1Y
10.7%
TORNTPOWER
₹1,399.40
Torrent Power
7D
7.7%
1Y
-7.5%

TORNTPOWER: Medium-Term Expansion Plans Will Support Balanced Risk Reward Ahead

Analysts have raised their price target on Torrent Power from ₹1,050 to ₹1,210, citing stronger expected revenue growth despite slightly higher discount rates and moderating profit margins, which are still seen as compatible with a higher forward P/E multiple. What's in the News Torrent Power has scheduled an Analyst and Investor Day, where management is expected to outline medium term growth plans and capital allocation priorities.
540565
₹168.94
Indigrid Infrastructure Trust
7D
-0.02%
1Y
17.3%
DPSCLTD
₹10.03
India Power
7D
1.1%
1Y
-41.8%
BAJEL
₹174.51
Bajel Projects
7D
-1.7%
1Y
-35.1%

Some May Be Optimistic About Bajel Projects' (NSE:BAJEL) Earnings

Nov 22
Some May Be Optimistic About Bajel Projects' (NSE:BAJEL) Earnings
CHAMUNDA
₹51.00
Chamunda Electrical
7D
-0.4%
1Y
n/a
500390
₹164.80
Reliance Infrastructure
7D
-5.0%
1Y
-48.3%