Electrical Equipment sector
Industry analysis
Heavy Electrical Equipment
Read from what its listed companies are showing. Valuations are compared within this industry.
Mixed
51 listed companies · ₹ 10,95,553 Cr. total market value- ▲68% of companies grew sales by more than 8% from a year earlier; the typical company's profit rose 25%. 6% made a loss.
- ▲5 credit rating upgrades and no downgrades in the last 90 days.
- –40 good and 2 bad company announcements, including 17 big orders won (read since 6 Oct 2026; not counted until there is a month of them).
- ▼The typical share is down 8.5% in 3 months; 40% of shares trade above their 200-day average (their usual level).
- –Typical P/E 30.4, close to these companies' usual level.
- –Raised ₹ 675 Cr. by issuing shares (2 issues) in 90 days; 3 more fund raises on the way.
▲ / ▼ / ● are the signals the verdict counts: results, credit ratings, announcements and share prices. Lines marked – are shown but not counted.
In charts
Share prices over the last year
The typical Heavy Electrical Equipment share against the typical share on the market, both starting at 100. Now 96 vs 83.
Is growth speeding up or slowing down?
The typical company's sales and profit growth against the same quarter a year earlier.
Price against growth
Each dot is a company: further left is cheaper (lower P/E), higher up grew profit faster. Red dots passed the cheaper-than-peers screen. Companies beyond the chart's edges sit on the edge.
Cheaper than peers
Not a buy list. These shares trade at a P/E at least 30% below their industry's typical level and below their own usual level, and they also pass basic checks: profitable, sales and profit growing, low debt, no red flags, market value of ₹250 Cr or more. Cheap shares are often cheap for a reason; this is where to start reading, not where to stop.
| Details | ||||
|---|---|---|---|---|
| Transrail Lighting TRANSRAILL | 13.8 vs 30.455% cheaper | +4.6% / +1.9% | ₹ 5,757.9 Cr. |
Cheaper than peers across the whole market
Leaders and laggards
Good news
- Karamtara EngineeringBig order won
- Transrail LightingBig order won
- Bajel ProjectsBig order won
- Bharat Heavy ElectricalsStrong results
- Anawil Wire and EngineeringCredit rating raised
Warning signs
- IndosolarVery bad news
Best shares, 3 months
- Accord Transformer & Switchgear Ltd+44.6%
- TD Power Systems+32.2%
- Quality Power Electrical Equipments+21.1%
- VijayPD Ceutical+17.8%
- Jyoti+17.8%
Worst shares, 3 months
- Indosolar−39.9%
- Neueon Corporation Ltd−30.9%
- Thermax−28.3%
- Triveni Turbine−26.7%
- Australian Premium Solar (India)−25.1%
Companies
Click a column to sort.
| Signs (90 days) | |||||||
|---|---|---|---|---|---|---|---|
| Bharat Heavy Electricals BHEL | Heavy Electrical Equipment | ₹ 1,34,755.85 Cr. | +23.8% | +118.9% | 46.9 | −1.3% | Strong results |
| ABB India ABB | Heavy Electrical Equipment | ₹ 1,29,935.72 Cr. | +21.1% | +2.8% | 84.4 | −10.4% | |
| CG Power and Industrial Solutions CGPOWER | Heavy Electrical Equipment | ₹ 1,28,391.3 Cr. | +30.1% | +44% | 91.7 | +0.7% | Strong results |
| Hitachi Energy India POWERINDIA | Heavy Electrical Equipment | ₹ 1,17,002.45 Cr. | +68.6% | +122.7% | 98.4 | −10.4% | |
| Siemens SIEMENS | Heavy Electrical Equipment | ₹ 1,15,739.16 Cr. | +14.8% | +406.6% | 76.9 | −8.5% | |
| Siemens Energy India ENRIN | Heavy Electrical Equipment | ₹ 94,586.27 Cr. | +39.3% | +67.7% | 61.9 | −10.3% | |
| GE Vernova T&D India GVT&D | Heavy Electrical Equipment | ₹ 94,353.15 Cr. | +38% | +24.7% | 359.4 | −3% | |
| Suzlon Energy SUZLON | Heavy Electrical Equipment | ₹ 51,408.5 Cr. | +22.3% | −5.9% | 16.2 | −22.2% | |
| Thermax THERMAX | Heavy Electrical Equipment | ₹ 36,999.17 Cr. | +6.7% | −85.4% | 67 | −28.3% | |
| Schneider Electric Infrastructure SCHNEIDER | Heavy Electrical Equipment | ₹ 26,641.29 Cr. | +4.7% | −70.7% | 137.2 | −10.5% | |
| TD Power Systems TDPOWERSYS | Heavy Electrical Equipment | ₹ 20,090.98 Cr. | +72% | +72% | 74.8 | +32.2% | Promoters buying |
| Azad Engineering AZAD | Heavy Electrical Equipment | ₹ 16,018.15 Cr. | +26.3% | +20.7% | 115.2 | +7.5% | |
| Triveni Turbine TRITURBINE | Heavy Electrical Equipment | ₹ 14,136.94 Cr. | +19.4% | −20.3% | 40.7 | −26.7% | |
| Atlanta Electricals ATLANTAELE | Heavy Electrical Equipment | ₹ 12,454.74 Cr. | +47.9% | +51.6% | 57 | +5.3% | |
| Karamtara Engineering KARAMTARA | Heavy Electrical Equipment | ₹ 11,199.43 Cr. | — | — | 49.1 | — | Big order won |
| Inox Wind INOXWIND | Heavy Electrical Equipment | ₹ 10,179.32 Cr. | −1.5% | −34% | 29.6 | −23.6% | |
| Quality Power Electrical Equipments QPOWER | Heavy Electrical Equipment | ₹ 10,102.96 Cr. | +31.6% | +27% | 75.8 | +21.1% | Expansion or acquisition |
| Voltamp Transformers VOLTAMP | Heavy Electrical Equipment | ₹ 9,722.46 Cr. | +28.3% | +13.8% | 30.7 | +8.8% | Expansion or acquisition |
| Elecon Engineering Company ELECON | Heavy Electrical Equipment | ₹ 9,450.45 Cr. | +10.6% | +9.1% | 30.1 | +0.7% | |
| Transformers and Rectifiers (India) TARIL | Heavy Electrical Equipment | ₹ 9,141.75 Cr. | +60.7% | +118.9% | 30 | +5.7% | Strong results |
| Kanohar Electricals KANOHAR | Heavy Electrical Equipment | ₹ 7,040.9 Cr. | — | — | 54.1 | — | Big order won |
| Powerica Ltd POWERICA | Heavy Electrical Equipment | ₹ 6,222.2 Cr. | +26.6% | +25.5% | 22.3 | −3.3% | Big order won |
| Transrail Lighting TRANSRAILL | Heavy Electrical Equipment | ₹ 5,757.9 Cr. | +4.6% | +1.9% | 13.8 | −13.2% | Big order won |
| Skipper Ltd (India) SKIPPER | Heavy Electrical Equipment | ₹ 5,357.87 Cr. | +4.5% | +24.4% | 25 | −3.4% | |
| Indo Tech Transformers INDOTECH | Heavy Electrical Equipment | ₹ 2,837.66 Cr. | +39% | +36.8% | 28.6 | −18.3% | |
| Bharat Bijlee BBL | Heavy Electrical Equipment | ₹ 2,549.09 Cr. | +17.6% | −28.6% | 23 | −0.1% | |
| Marsons MARSONS | Heavy Electrical Equipment | ₹ 2,047.99 Cr. | +4.7% | −26.2% | 46.2 | +14% | Expansion or acquisition |
| Bajel Projects BAJEL | Heavy Electrical Equipment | ₹ 1,774.16 Cr. | −6.7% | +59.8% | 65.8 | −5.1% | Big order won |
| Danish Power DANISH | Heavy Electrical Equipment | ₹ 1,663.94 Cr. | — | — | 24.1 | +4.7% | |
| KP Green Engineering 544150 | Heavy Electrical Equipment | ₹ 1,325.87 Cr. | +191.4% | +220.8% | 9.9 | −21.4% | |
| Jyoti Structures JYOTISTRUC | Heavy Electrical Equipment | ₹ 982.38 Cr. | +60.9% | +72.7% | 15.1 | −17.6% | Big order won |
| Anawil Wire and Engineering ANAWIL | Heavy Electrical Equipment | ₹ 972.74 Cr. | — | — | 26.6 | — | Credit rating raised |
| Swelect Energy Systems SWELECTES | Heavy Electrical Equipment | ₹ 903.93 Cr. | −26.2% | −63.8% | 20.9 | +1% | |
| Indosolar WAAREEINDO | Heavy Electrical Equipment | ₹ 826.41 Cr. | −23.2% | −89.2% | 6.6 | −39.9% | Very bad news |
| Neueon Corporation Ltd NEUEON | Heavy Electrical Equipment | ₹ 664.4 Cr. | −98.7% | Loss | 18.4 | −30.9% | |
| Raksan Transformers 544924 | Heavy Electrical Equipment | ₹ 501.32 Cr. | — | — | 14.9 | — | |
| Avana Electrosystems AVANA | Heavy Electrical Equipment | ₹ 364.14 Cr. | — | — | 31.1 | −19.2% | Expansion or acquisition |
| G G Engineering 540614 | Heavy Electrical Equipment | ₹ 358.87 Cr. | −67.5% | +138.7% | 12.2 | — | |
| United Van Der Horst 522091 | Heavy Electrical Equipment | ₹ 203.14 Cr. | +0.7% | −45.1% | 38.6 | −13.1% | |
| Accord Transformer & Switchgear Ltd 544710 | Heavy Electrical Equipment | ₹ 173.33 Cr. | — | — | 38.6 | +44.6% | |
| VijayPD Ceutical VIJAYPD | Heavy Electrical Equipment | ₹ 161.01 Cr. | — | — | 32.3 | +17.8% | |
| Aartech Solonics AARTECH | Heavy Electrical Equipment | ₹ 133.86 Cr. | +68% | +146% | 24.9 | +3.9% | |
| STAR DELTA TRANSFORMERS 539255 | Heavy Electrical Equipment | ₹ 123.73 Cr. | +24% | −38.3% | 10.5 | −19.8% | |
| Surana Solar SURANASOL | Heavy Electrical Equipment | ₹ 111.05 Cr. | +720.6% | +1,842.9% | 48.6 | −16.6% | Strong results |
| Jyoti 504076 | Heavy Electrical Equipment | ₹ 109.29 Cr. | +8.4% | −13.1% | 8.8 | +17.8% | |
| Trom Industries TROM | Heavy Electrical Equipment | ₹ 50.53 Cr. | +167.7% | −25% | 7.3 | −8.4% | |
| Tarapur Transformers TARAPUR | Heavy Electrical Equipment | ₹ 25.16 Cr. | — | Loss | 4.2 | −21.4% | |
| Australian Premium Solar (India) APS | Heavy Electrical Equipment | — | +417.3% | +833.3% | 7.2 | −25.1% | Expansion or acquisition |
| Exicom Tele-Systems EXICOM | Heavy Electrical Equipment | — | +61.5% | Loss | 85.3 | −17.2% | |
| GE Power India Ltd GVPIL | Heavy Electrical Equipment | — | +7.7% | +54.3% | 10.8 | −20.4% | |
| TD Power Systems TDPOWERSYS | Heavy Electrical Equipment | — | — | — | — | — |
Figures are medians and shares of companies, so one giant company cannot outweigh the rest. Results compare each company's latest quarter with the same quarter a year earlier; ratings and announcements cover the last 90 days (announcements are read by AI and can be wrong). This page adds up published data; it is not a recommendation to buy or sell anything.