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Indian (NIFTY) Renewable Energy Industry Analysis

UpdatedAug 06, 2026
DataAggregated Company Financials
Companies32
  • 7D1.0%
  • 3M-7.6%
  • 1Y23.9%
  • YTD17.7%

The Renewable Energy industry has stayed flat over the last week. The past year has been better, since the industry has gained 24% 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 Renewable Energy Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 06 Aug 2026₹13.8t₹3.7t₹564.3b41.9x24.5x3.8x
Sat, 04 Jul 2026₹14.3t₹3.5t₹539.5b45.1x26.4x4.1x
Mon, 01 Jun 2026₹15.0t₹3.5t₹536.9b43.2x27.9x4.3x
Wed, 29 Apr 2026₹14.5t₹3.5t₹486.5b32.1x29.7x4.2x
Fri, 27 Mar 2026₹11.5t₹3.4t₹483.6b25.8x23.9x3.3x
Sun, 22 Feb 2026₹11.3t₹3.4t₹483.0b24.7x23.4x3.3x
Tue, 20 Jan 2026₹10.9t₹3.4t₹489.1b24.3x22.4x3.2x
Thu, 18 Dec 2025₹10.9t₹3.4t₹489.1b23.9x22.3x3.2x
Sat, 15 Nov 2025₹11.6t₹3.5t₹487.7b25.7x23.8x3.3x
Mon, 13 Oct 2025₹11.8t₹3.4t₹519.0b27.9x22.7x3.4x
Wed, 10 Sep 2025₹10.9t₹3.4t₹519.0b25.9x21x3.2x
Fri, 08 Aug 2025₹10.8t₹3.4t₹523.2b29.8x20.6x3.1x
Sun, 06 Jul 2025₹11.0t₹3.4t₹516.3b30.6x21.3x3.2x
Tue, 03 Jun 2025₹10.9t₹3.4t₹516.3b31.1x21.1x3.2x
Thu, 01 May 2025₹10.5t₹3.4t₹593.4b26.7x17.6x3.1x
Sat, 29 Mar 2025₹10.6t₹3.4t₹593.4b25.4x17.8x3.1x
Mon, 24 Feb 2025₹9.9t₹3.4t₹593.4b28.6x16.7x2.9x
Wed, 22 Jan 2025₹10.7t₹3.3t₹567.1b29.9x18.8x3.2x
Fri, 20 Dec 2024₹11.3t₹3.3t₹567.1b34x19.9x3.4x
Sun, 17 Nov 2024₹11.2t₹3.3t₹564.2b26.4x19.9x3.4x
Tue, 15 Oct 2024₹12.7t₹3.3t₹547.0b44.6x23.3x3.9x
Thu, 12 Sep 2024₹12.3t₹3.3t₹547.8b41.1x22.5x3.8x
Sat, 10 Aug 2024₹12.7t₹3.3t₹546.5b40.9x23.3x3.9x
Mon, 08 Jul 2024₹12.6t₹3.2t₹575.6b54.9x21.8x4x
Wed, 05 Jun 2024₹11.5t₹3.2t₹583.4b46.6x19.7x3.6x
Fri, 03 May 2024₹11.8t₹3.2t₹502.2b26.5x23.4x3.7x
Sun, 31 Mar 2024₹11.0t₹3.1t₹508.5b27.1x21.5x3.6x
Tue, 27 Feb 2024₹11.4t₹3.1t₹508.5b33.8x22.4x3.7x
Thu, 25 Jan 2024₹10.1t₹3.0t₹505.7b20.7x20x3.3x
Sat, 23 Dec 2023₹9.4t₹3.0t₹505.5b16.7x18.6x3.1x
Mon, 20 Nov 2023₹7.3t₹3.0t₹505.5b13.6x14.3x2.4x
Wed, 18 Oct 2023₹6.8t₹2.9t₹389.3b15.5x17.5x2.3x
Fri, 15 Sep 2023₹7.0t₹2.9t₹389.1b14.4x18.1x2.4x
Sun, 13 Aug 2023₹6.2t₹2.9t₹389.1b16x16x2.1x
Price to Earnings Ratio

16x


Total Market Cap: ₹6.2tTotal Earnings: ₹389.1bTotal Revenue: ₹2.9tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Renewable Energy Industry Price to Earnings3Y Average 21.4x202420252026
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 24.5x which is higher than its 3-year average PE of 21.4x.
  • The 3-year average PS ratio of 3.4x is lower than the industry's current PS ratio of 3.8x.
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 8.1% 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 Market1.63%
Utilities0.35%
Renewable Energy0.99%
Independent Power Producers and Energy Traders1.18%
Renewable Energy0.60%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry even though it's trading below its 3-year average PE ratio of 64.3x.
    • Analysts are expecting annual earnings growth of 33.9%, which is higher than its past year's earnings growth of 13.5% 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 16.2x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 34% over the next 5 years.
  • This is better than its past earnings growth rate of 14% per year.
  • In contrast, the Independent Power Producers and Energy Traders industry is expected to see its earnings grow by 5.1% 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₹349.901.9%
+₹62.1b		5.4%PE12.2x
533148 JSW Energy₹560.002.7%
+₹26.6b		4.9%PE52.2x
ADANIGREEN Adani Green Energy₹1.38k0.5%
+₹11.4b		44.1%PE132.9x
ACMESOLAR ACME Solar Holdings₹382.254.3%
+₹11.0b		43.5%PE44.8x
PTC PTC India₹198.3618.2%
+₹9.0b		9.0%PE11.5x

Latest News

PTC
₹200.17
PTC India
7D
18.4%
1Y
10.7%
539686
₹304.60
K.P. Energy
7D
-0.5%
1Y
-33.6%
542323
₹375.30
KPI Green Energy
7D
-2.2%
1Y
-26.8%
NHPC
₹77.50
NHPC
7D
-0.7%
1Y
-7.1%
GIPCL
₹159.21
Gujarat Industries Power
7D
-1.7%
1Y
-17.0%
CLEANMAX
₹1,357.80
Clean Max Enviro Energy Solutions
7D
3.7%
1Y
n/a
513683
₹303.75
NLC India
7D
3.9%
1Y
30.2%
ACMESOLAR
₹375.45
ACME Solar Holdings
7D
4.1%
1Y
35.6%
Narrative Update • Jul 31

ACMESOLAR: Battery Storage Expansion And Equity Raise Will Shape Balanced Outlook

Analysts have raised their price target on ACME Solar Holdings from ₹354.29 to ₹395.40, citing updated assumptions on the discount rate, revenue growth, profit margins and future P/E that they view as better aligned with the company’s current profile. What's in the News for ACME Solar Holdings ACME Solar Holdings and its subsidiaries have cumulatively commissioned about 2.29 GWh of Battery Energy Storage System capacity in the current financial year, taking total operational BESS capacity to about 3.62 GWh across three project sites in Rajasthan.
NTPCGREEN
₹91.33
NTPC Green Energy
7D
0.8%
1Y
-10.9%
533148
₹570.00
JSW Energy
7D
4.9%
1Y
6.8%
Narrative Update • Jul 30

533148: Follow On Equity Offering Will Eventually Weigh On Stretched Valuation

The analyst price target for JSW Energy has shifted modestly from ₹463.03 to ₹475.00. This reflects updated views from analysts based on revised assumptions for discount rate, revenue growth, profit margin and future P/E.
ADANIGREEN
₹1,371.50
Adani Green Energy
7D
0.9%
1Y
46.4%
Narrative Update • Jul 28

ADANIGREEN: Khavda Storage Scale Will Shape Balanced Long Term Opportunity

The analyst price target for Adani Green Energy has been revised from ₹1,409.25 to ₹1,551.75, with analysts citing updated assumptions around revenue growth, profit margins and future P/E expectations as key drivers of the change. What's in the News for Adani Green Energy Adani Green Energy has commissioned a cumulative 3.37 GWh Battery Energy Storage System at Khavda in Gujarat, described as the world’s largest single location battery storage deployment outside China.
VEDPOWER
₹35.78
Vedanta Power
7D
5.8%
1Y
n/a
ADANIPOWER
₹208.12
Adani Power
7D
-0.4%
1Y
79.7%
Narrative Update • Jul 24

ADANIPOWER: Funding And Borrowing Plans Will Shape Balanced Future Outlook

Analysts have raised their price target on Adani Power from ₹173 to ₹220, citing updated assumptions for the discount rate, revenue growth, profit margins and future P/E, which together support a higher fair value estimate. What's in the News for Adani Power Board meeting scheduled for Jul 22, 2026 at 11:00 Indian Standard Time to consider and approve unaudited financial results for the quarter ended Jun 30, 2026.
507836
₹689.25
Mac Charles (India)
7D
-0.8%
1Y
-2.0%
506640
₹95.00
ZR2 Bioenergy
7D
-8.7%
1Y
-76.7%
KKVAPOW
₹451.40
KKV Agro Powers
7D
-5.0%
1Y
-28.9%