These 4 Measures Indicate That Adani Green Energy (NSE:ADANIGREEN) Is Using Debt Extensively
Dec 18
Have your own idea? Try our Stock Screener
Indian (NIFTY) Renewable Energy Industry Analysis
UpdatedDec 20, 2025
DataAggregated Company Financials
Companies28
- 7D-1.4%
- 3M-6.1%
- 1Y-1.7%
- YTD-2.2%
Over the last 7 days, the Renewable Energy industry has dropped 1.4%, driven by declines in Adani Power and NTPC of 1.9% and 1.6%, respectively. Meanwhile, Reliance Power actually outperformed within the industry, gaining 12% in the last week. Over the last year, the industry has been flat overall. Earnings are forecast to grow by 19% annually.
Industry Valuation and Performance
Has the Indian Renewable Energy Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 20 Dec 2025 | ₹10.9t | ₹3.4t | ₹489.1b | 24x | 22.2x | 3.2x |
| Mon, 17 Nov 2025 | ₹11.6t | ₹3.5t | ₹490.3b | 25.7x | 23.6x | 3.3x |
| Wed, 15 Oct 2025 | ₹11.8t | ₹3.4t | ₹519.0b | 27.2x | 22.7x | 3.4x |
| Fri, 12 Sep 2025 | ₹11.0t | ₹3.4t | ₹519.1b | 26.5x | 21.3x | 3.2x |
| Sun, 10 Aug 2025 | ₹10.7t | ₹3.4t | ₹525.6b | 29.3x | 20.4x | 3.1x |
| Tue, 08 Jul 2025 | ₹11.1t | ₹3.4t | ₹516.3b | 30.2x | 21.5x | 3.3x |
| Thu, 05 Jun 2025 | ₹10.8t | ₹3.4t | ₹516.3b | 32x | 20.9x | 3.2x |
| Sat, 03 May 2025 | ₹10.4t | ₹3.4t | ₹597.4b | 26.4x | 17.4x | 3.1x |
| Mon, 31 Mar 2025 | ₹10.6t | ₹3.4t | ₹593.4b | 25.4x | 17.8x | 3.1x |
| Wed, 26 Feb 2025 | ₹9.7t | ₹3.4t | ₹593.4b | 28x | 16.3x | 2.9x |
| Fri, 24 Jan 2025 | ₹10.5t | ₹3.3t | ₹573.1b | 29.1x | 18.4x | 3.2x |
| Sun, 22 Dec 2024 | ₹11.1t | ₹3.3t | ₹567.1b | 32.6x | 19.5x | 3.3x |
| Tue, 19 Nov 2024 | ₹11.0t | ₹3.3t | ₹564.2b | 26.4x | 19.5x | 3.3x |
| Thu, 17 Oct 2024 | ₹12.5t | ₹3.3t | ₹547.0b | 45.5x | 22.8x | 3.8x |
| Sat, 14 Sep 2024 | ₹12.5t | ₹3.3t | ₹547.8b | 44.4x | 22.8x | 3.8x |
| Mon, 12 Aug 2024 | ₹12.7t | ₹3.3t | ₹546.8b | 40.9x | 23.3x | 3.9x |
| Wed, 10 Jul 2024 | ₹12.6t | ₹3.2t | ₹575.6b | 51.8x | 21.9x | 4x |
| Fri, 07 Jun 2024 | ₹12.3t | ₹3.2t | ₹583.6b | 42.2x | 21.1x | 3.9x |
| Sun, 05 May 2024 | ₹11.8t | ₹3.1t | ₹483.4b | 26.8x | 24.3x | 3.8x |
| Tue, 02 Apr 2024 | ₹11.2t | ₹3.1t | ₹508.5b | 28.4x | 22.1x | 3.7x |
| Thu, 29 Feb 2024 | ₹11.1t | ₹3.1t | ₹508.5b | 30.8x | 21.7x | 3.6x |
| Sat, 27 Jan 2024 | ₹10.3t | ₹3.1t | ₹533.5b | 21.5x | 19.4x | 3.3x |
| Mon, 25 Dec 2023 | ₹9.4t | ₹3.0t | ₹505.5b | 16.7x | 18.6x | 3.1x |
| Wed, 22 Nov 2023 | ₹7.2t | ₹3.0t | ₹505.5b | 14x | 14.3x | 2.4x |
| Fri, 20 Oct 2023 | ₹6.8t | ₹2.9t | ₹389.3b | 15x | 17.4x | 2.3x |
| Sun, 17 Sep 2023 | ₹7.0t | ₹2.9t | ₹389.1b | 14.2x | 18.1x | 2.4x |
| Tue, 15 Aug 2023 | ₹6.2t | ₹2.9t | ₹389.3b | 15.4x | 15.9x | 2.1x |
| Thu, 13 Jul 2023 | ₹5.7t | ₹2.9t | ₹345.5b | 19x | 16.4x | 1.9x |
| Sat, 10 Jun 2023 | ₹5.6t | ₹2.9t | ₹359.0b | 12.6x | 15.5x | 1.9x |
| Mon, 08 May 2023 | ₹5.3t | ₹2.8t | ₹361.5b | 13.3x | 14.6x | 1.9x |
| Wed, 05 Apr 2023 | ₹4.9t | ₹2.8t | ₹332.1b | 12x | 14.7x | 1.7x |
| Fri, 03 Mar 2023 | ₹4.2t | ₹2.8t | ₹332.1b | 12.2x | 12.6x | 1.5x |
| Sun, 29 Jan 2023 | ₹6.0t | ₹2.7t | ₹343.1b | 14.5x | 17.6x | 2.3x |
| Tue, 27 Dec 2022 | ₹6.5t | ₹2.7t | ₹344.5b | 13.5x | 19x | 2.5x |
Price to Earnings Ratio
19x
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 22.2x which is higher than its 3-year average PE of 19.4x.
- The industry is trading close to its 3-year average PS ratio of 3.0x.
Past Earnings Growth
- The earnings for companies in the Renewable Energy industry have grown 12% per year over the last three years.
- Revenues for these companies have grown 8.6% 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 | -0.11% | |
| Utilities | -0.96% | |
| Renewable Energy | -1.37% | |
| Independent Power Producers and Energy Traders | -1.35% | |
| Renewable Energy | -1.41% | |
Industry PE
- Investors are most optimistic about the Renewable Energy industry even though it's trading below its 3-year average PE ratio of 61.7x.
- Analysts are expecting annual earnings growth of 38.2%, which is lower than the prior year's growth of 71.9% 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 14.3x.
Forecasted Growth
- Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 38% over the next 5 years.
- However this is lower than its past earnings growth rate of 72% 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?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| RPOWER Reliance Power | ₹38.56 | 11.7% +₹16.7b | -13.8% | PE53.2x | |
| ACMESOLAR ACME Solar Holdings | ₹232.71 | 1.9% +₹2.7b | -0.1% | PE29.3x | |
| 533122 RattanIndia Power | ₹9.70 | 0.7% +₹375.9m | -30.2% | PE60.8x | |
| GREENPOWER Orient Green Power | ₹12.02 | 1.6% +₹222.9m | -30.7% | PE19.2x | |
| GIPCL Gujarat Industries Power | ₹148.44 | 0.5% +₹110.2m | -38.4% | PE12.3x |
