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

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 26.5x which is higher than its 3-year average PE of 20.9x. The 3-year average PS ratio of 3.3x is lower than the industry's current PS ratio of 4.1x.

Which industries have driven the changes within the Indian Utilities industry?

Investors are most optimistic about the Renewable Energy industry, which is trading close to its 3-year average PE ratio of 63.2x. Analysts are expecting annual earnings growth of 40.3%, which is higher than its past year's earnings growth of 25.2% 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 15.8x.

Indian (NIFTY) Renewable Energy Industry Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Wed, 10 Jun 2026	₹14.3t	₹3.5t	₹539.5b	46.2x	26.5x	4.1x
Fri, 08 May 2026	₹14.5t	₹3.5t	₹503.4b	34.4x	28.9x	4.2x
Sun, 05 Apr 2026	₹11.5t	₹3.4t	₹483.6b	26x	23.8x	3.3x
Tue, 03 Mar 2026	₹11.4t	₹3.4t	₹483.4b	24.3x	23.6x	3.3x
Thu, 29 Jan 2026	₹10.6t	₹3.4t	₹486.8b	23.7x	21.9x	3.1x
Sat, 27 Dec 2025	₹11.0t	₹3.4t	₹489.1b	24.3x	22.4x	3.2x
Mon, 24 Nov 2025	₹11.3t	₹3.5t	₹490.3b	25x	23x	3.3x
Wed, 22 Oct 2025	₹12.2t	₹3.5t	₹517.5b	28x	23.5x	3.5x
Fri, 19 Sep 2025	₹11.2t	₹3.4t	₹519.0b	28.7x	21.6x	3.3x
Sun, 17 Aug 2025	₹10.8t	₹3.4t	₹518.4b	27.4x	20.8x	3.1x
Tue, 15 Jul 2025	₹11.4t	₹3.4t	₹516.3b	31.1x	22.1x	3.3x
Thu, 12 Jun 2025	₹11.3t	₹3.4t	₹516.3b	34.8x	21.9x	3.3x
Sat, 10 May 2025	₹10.0t	₹3.4t	₹599.4b	24x	16.7x	3x
Mon, 07 Apr 2025	₹10.5t	₹3.4t	₹593.4b	28.6x	17.6x	3.1x
Wed, 05 Mar 2025	₹9.4t	₹3.4t	₹593.4b	25.4x	15.8x	2.8x
Fri, 31 Jan 2025	₹10.2t	₹3.4t	₹577.8b	27.7x	17.6x	3x
Sun, 29 Dec 2024	₹11.0t	₹3.3t	₹567.1b	32.7x	19.4x	3.3x
Tue, 26 Nov 2024	₹10.0t	₹3.3t	₹564.3b	27.8x	17.7x	3x
Thu, 24 Oct 2024	₹11.9t	₹3.3t	₹546.0b	42.9x	21.8x	3.6x
Sat, 21 Sep 2024	₹13.2t	₹3.3t	₹547.8b	43.3x	24.1x	4x
Mon, 19 Aug 2024	₹12.6t	₹3.3t	₹547.8b	40.1x	22.9x	3.8x
Wed, 17 Jul 2024	₹12.7t	₹3.2t	₹575.6b	48.6x	22x	4x
Fri, 14 Jun 2024	₹12.6t	₹3.2t	₹575.6b	43.2x	21.9x	4x
Sun, 12 May 2024	₹11.3t	₹3.1t	₹483.4b	29.3x	23.3x	3.6x
Tue, 09 Apr 2024	₹11.8t	₹3.1t	₹507.8b	32.7x	23.3x	3.9x
Thu, 07 Mar 2024	₹11.4t	₹3.1t	₹508.5b	31.1x	22.4x	3.7x
Sat, 03 Feb 2024	₹10.9t	₹3.1t	₹542.7b	36.1x	20x	3.5x
Mon, 01 Jan 2024	₹9.7t	₹3.0t	₹505.5b	18.4x	19.2x	3.2x
Wed, 29 Nov 2023	₹7.7t	₹3.0t	₹505.5b	14.4x	15.3x	2.6x
Fri, 27 Oct 2023	₹6.4t	₹2.9t	₹393.1b	13.6x	16.4x	2.2x
Sun, 24 Sep 2023	₹7.1t	₹2.9t	₹389.1b	13.5x	18.2x	2.4x
Tue, 22 Aug 2023	₹6.4t	₹2.9t	₹389.3b	15.3x	16.4x	2.2x
Thu, 20 Jul 2023	₹5.7t	₹2.9t	₹342.5b	14.7x	16.7x	2x
Sat, 17 Jun 2023	₹5.6t	₹2.9t	₹359.0b	13.5x	15.7x	1.9x


IN Market	-0.68%
Utilities	-0.53%
Renewable Energy	-1.40%
Renewable Energy	3.70%
Independent Power Producers and Energy Traders	-3.66%

Company	Last Price	7D	1Y	Valuation
ADANIGREEN Adani Green Energy	₹1.48k	3.9% +₹91.4b	41.7%	PE154.7x
ACMESOLAR ACME Solar Holdings	₹336.90	2.4% +₹38.5b	33.1%	PE47.7x
CLEANMAX Clean Max Enviro Energy Solutions	₹1.34k	15.4% +₹20.8b	n/a	PE166.1x
507836 Mac Charles (India)	₹691.35	0.5% +₹45.9m	13.4%	PS7.3x
513452 Elango Industries	₹15.69	4.6% +₹2.6m	18.3%	PS25x

Announcement • 5h

NTPC Limited Announces Executive Director Appointments, Effective June 8, 2026

NTPC Limited had appointed thirty-four officials as Executive Director (Senior Management) of the Company with effect from June 8, 2026. Himmat Singh Chauhan joined NTPC Ltd. on August 31, 1987. Over his 38.7 years of service in NTPC, he has contributed to various functions, including Business Unit Head, TECH SERVICES, PROJ CONST, MECH ERECT, ELECT ERECT. He holds a B.Tech. in Mechanical Engineering. Kishore Kumar Hota joined NTPC Ltd. on August 29, 1988. Over his 37.7 years of service in NTPC, he has contributed to various functions, including Business Unit Head, O & M, FUEL MANAGEMENT, FUEL TRANSPORTATION, MGR, CORP. PLNG., OPERATION. He holds a B.Sc.(Engg.) in Mechanical Engineering. CHANDRASIS GHOSHDASTIDAR joined NTPC Ltd. on September 6, 1989. Over his 36.7 years of service in NTPC, he has contributed to various functions, including Business Unit Head, O & M, TECH SERVICES, PROJ COORD, ELECT MAINT, EEMG, FUEL HANDLING. He holds a B.E. in Electrical Engineering. Shyam Kumar joined NTPC Ltd. on September 4, 1989. Over his 36.7 years of service in NTPC, he has contributed to various functions, including Business Unit Head, BUSINESS DEVLP., COMMERCIAL, MECH ERECT, OS, EEMG, COMMS & TEST. He holds a B.Tech. in Mechanical Engineering. Anupam Mukherjee joined NTPC Ltd. on September 4, 1989. Over his 36.7 years of service in NTPC, he has contributed to various functions, including PROJ CONST, FGD PROJ, PROJECT MANAGEMNT, BUSINESS DEVLP., OPERATION, MECH ERECT. He holds a PG Diploma in Management and a B.Sc.(Engg.) in Mechanical Engineering. Sanjay Asati joined NTPC Ltd. on September 6, 1989. Over his 36.7 years of service in NTPC, he has contributed to various functions, including Business Unit Head, O & M, OPERATION, C & I MAINT. He holds a B.E. in Telecommunication & Radio. ARNAB MAITRA joined NTPC Ltd. on September 5, 1989. Over his 36.7 years of service in NTPC, he has contributed to various functions, including Business Unit Head, O & M, FUEL MANAGEMENT, MAINTENANCE, MECH MAINT, MECH ERECT. He holds an M.Tech. and a B.E. in Mechanical Engineering. Evani Prabhakara Rao joined NTPC Ltd. on September 5, 1989. Over his 36.7 years of service in NTPC, he has contributed to various functions, including CORP. PLNG., COMMERCIAL, OS, OPERATION, COMMS & TEST. He holds a B.Tech. in Mechanical Engineering. Atul Kamalakar Desai joined NTPC Ltd. on September 5, 1989. Over his 36.7 years of service in NTPC, he has contributed to various functions, including Business Unit Head, O & M, OPERATION, MECH MAINT. He holds a B.E. in Mechanical Engineering. Kishore Chandra Patra joined NTPC Ltd. on September 6, 1989. Over his 36.7 years of service in NTPC, he has contributed to various functions, including Business Unit Head, O & M, MAINTENANCE, C&M, OS, TECH SERVICES, MATERIALS PLANNING, MECH ERECT. He holds a PG Diploma in Business Management. Neel Kumar Sharma joined NTPC Ltd. on September 6, 1989. Over his 36.7 years of service in NTPC, he has contributed to various functions, including Business Unit Head, O & M, TECH SERVICES, OPERATION, ASH DYKE MAINTENANCE. He holds a B.E. in Mechanical Engineering. Subrat Kumar Dash joined NTPC Ltd. on August 30, 1989. Over his 36.7 years of service in NTPC, he has contributed to various functions, including Business Unit Head, FUEL MANAGEMENT, MGR, BUSINESS EXCELLENCE, OPERATION, ELECT MAINT. He holds a B.E. in Electrical Engineering. Anurag Shukla joined NTPC Ltd. on February 28, 1990. Over his 36.2 years of service in NTPC, he has contributed to various functions, including FINANCE, UNIFIED ACCOUNTS GROUP, PROJ CONST. He holds an MBA in Finance. Ayaskanta Jena joined NTPC Ltd. on October 23, 1990. Over his 35.5 years of service in NTPC, he has contributed to various functions, including Business Unit Head, ENGG, TASK FORCE, PROJECT MANAGEMNT, ERP, IT, ELECT ERECT. He holds a B.Sc.(Engg.) in Electrical Engineering. Biswa Mohan Singh joined NTPC Ltd. on October 26, 1990. Over his 35.5 years of service in NTPC, he has contributed to various functions, including Business Unit Head, ENGG, COAL MINING, REGIONAL ENGINEERING, PROJ COORD, ELECT MAINT, O & M. He holds an M.Tech. in Power Generation Technology. Cheruvu Satya Rama Krishna joined NTPC Ltd. on October 26, 1990. Over his 35.5 years of service in NTPC, he has contributed to various functions, including Business Unit Head, O & M, ASH DYKE MAINTENANCE, FUEL HANDLING, COMMS & TEST., OPERATION. He holds a B.Tech. in Electrical & Electronics. Debabrata Kar joined NTPC Ltd. on October 24, 1990. Over his 35.5 years of service in NTPC, he has contributed to various functions, including Business Unit Head, O & M, TECH SERVICES, BUSINESS DEVLP., P & S, CORP. PLNG., EEMG, COMMERCIAL. He holds a B.Sc.(Engg.) in Mechanical Engineering. Abhoy Kumar Mishra joined NTPC Ltd. on October 25, 1990. Over his 35.5 years of service in NTPC, he has contributed to various functions, including Business Unit Head, O & M, OPERATION, MTP. He holds an M.Tech. in Power Generation Technology. Harsh Ahuja joined NTPC Ltd. on October 26, 1990. Over his 35.5 years of service in NTPC, he has contributed to various functions, including C&M, USSC, VENDOR DEVELOPMENT CELL, MTP, FUEL HANDLING. He holds a B.Sc.(Engg.) in Mechanical Engineering. Faiz Taiyab joined NTPC Ltd. on October 26, 1990. Over his 35.5 years of service in NTPC, he has contributed to various functions, including Business Unit Head, O & M, LAND ACQUISITION, MINING, COAL MINING, OPERATION. He holds a B.Sc.(Engg.) in Mechanical Engineering. SAMIRAN SINHA RAY joined NTPC Ltd. on October 26, 1990. Over his 35.5 years of service in NTPC, he has contributed to various functions, including CHRO - NEEPCO, HR, CHEMISTRY, O & M. He holds an M.Sc. in Chemistry and a PG Diploma in Ecology & Environment. DILIP KAIBORTTA joined NTPC Ltd. on October 26, 1990. Over his 35.5 years of service in NTPC, he has contributed to various functions, including Business Unit Head, O & M, MAINTENANCE, ASH HANDLING MAINTENANCE, OPERATION. He holds a B.E. in Mechanical Engineering.

Indian (NIFTY) Renewable Energy Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

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