Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Indian (NIFTY) Renewable Energy Industry Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies29
  • 7D-0.1%
  • 3M0.8%
  • 1Y21.3%
  • YTD-0.5%

In the last week, Renewable Energy has been flat. The past year has been better, since the industry has gained 21% in that time. As for the next few years, earnings are expected to grow by 21% per annum.

Industry Valuation and Performance

Has the Indian Renewable Energy Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 02 Mar 2026₹11.4t₹3.4t₹483.4b24.3x23.6x3.3x
Wed, 28 Jan 2026₹10.4t₹3.4t₹486.8b23.1x21.5x3x
Fri, 26 Dec 2025₹11.0t₹3.4t₹489.1b24.3x22.5x3.2x
Sun, 23 Nov 2025₹11.3t₹3.5t₹490.3b25x23x3.3x
Tue, 21 Oct 2025₹12.0t₹3.5t₹517.5b28x23.3x3.5x
Thu, 18 Sep 2025₹11.2t₹3.4t₹519.1b27.5x21.6x3.3x
Sat, 16 Aug 2025₹10.8t₹3.4t₹518.1b27.5x20.9x3.1x
Mon, 14 Jul 2025₹11.3t₹3.4t₹516.3b30.8x21.9x3.3x
Wed, 11 Jun 2025₹11.4t₹3.4t₹516.3b33.4x22x3.3x
Fri, 09 May 2025₹10.1t₹3.4t₹599.4b25.1x16.9x3x
Sun, 06 Apr 2025₹10.5t₹3.4t₹593.4b28.6x17.6x3.1x
Tue, 04 Mar 2025₹9.4t₹3.4t₹593.4b25.6x15.8x2.8x
Thu, 30 Jan 2025₹10.2t₹3.3t₹573.9b26.9x17.8x3x
Sat, 28 Dec 2024₹11.0t₹3.3t₹567.1b32.7x19.4x3.3x
Mon, 25 Nov 2024₹10.1t₹3.3t₹564.3b26.7x17.9x3.1x
Wed, 23 Oct 2024₹11.9t₹3.3t₹547.0b42.5x21.8x3.7x
Fri, 20 Sep 2024₹13.0t₹3.3t₹547.8b43.1x23.7x4x
Sun, 18 Aug 2024₹12.6t₹3.3t₹547.8b40.1x22.9x3.8x
Tue, 16 Jul 2024₹12.6t₹3.2t₹575.6b49x21.9x4x
Thu, 13 Jun 2024₹12.6t₹3.2t₹575.6b43.7x21.8x4x
Sat, 11 May 2024₹11.3t₹3.1t₹483.4b29.3x23.3x3.6x
Mon, 08 Apr 2024₹11.7t₹3.1t₹507.8b34.3x23.1x3.8x
Wed, 06 Mar 2024₹11.5t₹3.1t₹508.5b31.3x22.6x3.8x
Fri, 02 Feb 2024₹10.7t₹3.1t₹542.7b34.4x19.7x3.5x
Sun, 31 Dec 2023₹9.7t₹3.0t₹505.5b18.4x19.2x3.2x
Tue, 28 Nov 2023₹7.4t₹3.0t₹505.5b14.1x14.6x2.4x
Thu, 26 Oct 2023₹6.4t₹2.9t₹393.1b13.7x16.2x2.2x
Sat, 23 Sep 2023₹7.1t₹2.9t₹389.1b13.5x18.2x2.4x
Mon, 21 Aug 2023₹6.4t₹2.9t₹389.3b13.8x16.4x2.2x
Wed, 19 Jul 2023₹5.6t₹2.9t₹342.5b14.8x16.5x1.9x
Fri, 16 Jun 2023₹5.6t₹2.9t₹359.0b14x15.6x1.9x
Sun, 14 May 2023₹5.2t₹2.8t₹361.1b13.4x14.5x1.8x
Tue, 11 Apr 2023₹4.9t₹2.8t₹332.1b11.9x14.7x1.7x
Thu, 09 Mar 2023₹4.6t₹2.8t₹332.1b12.8x13.8x1.6x
Price to Earnings Ratio

13.8x


Total Market Cap: ₹4.6tTotal Earnings: ₹332.1bTotal Revenue: ₹2.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Renewable Energy Industry Price to Earnings3Y Average 19.8x202420252026
Current Industry PE
  • Investors are optimistic on the Indian Renewable Energy industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 23.6x which is higher than its 3-year average PE of 19.8x.
  • The industry is trading close to its 3-year average PS ratio of 3.1x.
Past Earnings Growth
  • The earnings for companies in the Renewable Energy industry have grown 13% per year over the last three years.
  • Revenues for these companies have grown 6.9% 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-0.79%
Utilities0.098%
Renewable Energy-0.14%
Independent Power Producers and Energy Traders0.14%
Renewable Energy-0.83%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry even though it's trading below its 3-year average PE ratio of 61.4x.
    • Analysts are expecting annual earnings growth of 44.2%, which is higher than its past year's earnings growth of 36.0% per year.
  • Investors are most pessimistic about the Independent Power Producers and Energy Traders industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 14.8x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 44% over the next 5 years.
  • This is better than its past earnings growth rate of 36% per year.
  • In contrast, the Independent Power Producers and Energy Traders industry is expected to see its earnings grow by 11% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
NTPC NTPC₹377.550.6%
+₹20.4b		20.1%PE15.1x
ACMESOLAR ACME Solar Holdings₹232.280.3%
+₹478.7m		24.0%PE29.1x
513452 Elango Industries₹10.4527.4%
+₹8.6m		6.7%PS16.1x

Latest News

513683
₹252.85
NLC India
7D
-4.7%
1Y
23.7%

513683: Interim Dividend And Renewable Listing Will Support Future Bullish Repricing

Analysts have kept their fair value estimate for NLC India steady at ₹324. They have, however, slightly adjusted assumptions such as the discount rate, revenue growth, profit margin and future P/E, which together influence their updated price target narrative.
NTPC
₹377.55
NTPC
7D
0.6%
1Y
20.1%
NHPC
₹73.14
NHPC
7D
-1.3%
1Y
-0.3%

NHPC: Bond Issue And New Hydropower Projects Will Support Future Upside

Analysts have lifted their price target on NHPC to ₹87.0 per share from ₹87, reflecting updated assumptions around the discount rate, revenue growth, profit margin, and future P/E that are broadly consistent with prior estimates. What's in the News Board meeting scheduled on Feb 20, 2026, to consider an investment proposal for the Uri I Stage II hydroelectric project with planned capacity of 240 MW in the Union Territory of Jammu & Kashmir, at an estimated completion cost of ₹2,708.95 crore, subject to implementation agreements and approvals (Key Developments).
ADANIGREEN
₹903.55
Adani Green Energy
7D
-6.9%
1Y
12.4%

ADANIGREEN: Assam Storage Build Out Will Support Long-Term Upside

Analysts have trimmed their price target on Adani Green Energy from ₹1,263 to ₹1,220.5, citing updated assumptions around discount rate, revenue growth, profit margins and future P/E that modestly adjust their valuation framework. What's in the News TotalEnergies is preparing to sell up to a 6% stake in Adani Green Energy, potentially offering the stake to Adani Green Energy itself, after initially acquiring around a 20% minority interest in 2021 along with 50% of its operating solar portfolio (Key Developments).
533148
₹481.85
JSW Energy
7D
-0.9%
1Y
1.8%

533148: Preferential Equity Raise Will Support Alaknanda Acquisition Upside

Analysts now set their JSW Energy price target at about ₹568.75, up slightly from roughly ₹568.59. This reflects minor adjustments to their fair value model as they incorporate slightly higher discount rates, a modestly lower profit margin outlook, and a marginally higher future P/E assumption.
ADANIPOWER
₹137.97
Adani Power
7D
-4.2%
1Y
42.8%

ADANIPOWER: Assam Expansion And Governance Moves Will Support Long Term Upside

Analysts have kept their fair value estimate for Adani Power steady at ₹182.17 per share, with only minor tweaks to the discount rate and future P/E assumptions influencing this price target update. What's in the News A board meeting is scheduled for Jan 29, 2026 to consider and approve the unaudited financial results for the quarter and nine months ended Dec 31, 2025 (company filing).
513452
₹10.45
Elango Industries
7D
27.4%
1Y
6.7%
ACMESOLAR
₹232.28
ACME Solar Holdings
7D
0.3%
1Y
24.0%
NTPCGREEN
₹87.73
NTPC Green Energy
7D
-2.9%
1Y
-0.2%
RPOWER
₹22.98
Reliance Power
7D
-11.3%
1Y
-30.2%
542323
₹362.30
KPI Green Energy
7D
-7.8%
1Y
-3.6%