Minerva Capital Research Solutions
Electrical Equipment sector

Industry analysis

Other Electrical Equipment

Read from what its listed companies are showing. Valuations are compared within this industry.

Mixed

83 listed companies · ₹ 3,17,362 Cr. total market value
  • ▲67% of companies grew sales by more than 8% from a year earlier; the typical company's profit rose 16%. 15% made a loss.
  • ▲5 credit rating upgrades and 1 downgrade in the last 90 days.
  • –42 good and 5 bad company announcements, including 15 big orders won (read since 6 Oct 2026; not counted until there is a month of them).
  • ▼The typical share is down 9.9% in 3 months; 37% of shares trade above their 200-day average (their usual level).
  • –Typical P/E 25.2, 19% below these companies' usual level (cheaper than normal).
  • –Raised ₹ 43 Cr. by issuing shares (1 issue) 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 Other Electrical Equipment share against the typical share on the market, both starting at 100. Now 78 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.

Cheaper than peers
Details
Websol Energy System
WEBELSOLAR
8.4 vs 25.267% cheaper+70.3% / +16.4%₹ 2,626.69 Cr.
Modison
MODISONLTD
11.4 vs 25.255% cheaper+92.4% / +91.7%₹ 1,319.12 Cr.
Emmvee Photovoltaic Power
EMMVEE
11.5 vs 25.254% cheaper+39.3% / +60.5%₹ 16,430.2 Cr.
Waaree Energies
WAAREEENER
16.8 vs 25.233% cheaper+79.2% / +15.4%₹ 67,339.18 Cr.

Cheaper than peers across the whole market

Leaders and laggards

Good news

  1. Premier EnergiesExpansion or acquisition
  2. Vikram SolarBig order won
  3. Supreme Power EquipmentBig order won
  4. Solex EnergyBig order won
  5. Vivid ElectromechStrong results

Warning signs

  1. Mangal Electrical IndustriesCredit rating cut

Best shares, 3 months

  1. Galada Power & Telecommunication Ltd+136.2%
  2. Akanksha Power and Infrastructure+115.5%
  3. Sugs Lloyd+75.6%
  4. Delton Cables+57.6%
  5. Modison+44.9%

Worst shares, 3 months

  1. Magnus Steel and Infra−51.4%
  2. Equilateral Enterprises−49.2%
  3. Citizen Solar Ltd−47.9%
  4. Solex Energy−41%
  5. Gensol Engineering−39%

Companies

Click a column to sort.

Other Electrical Equipment companies
Signs (90 days)
Waaree Energies
WAAREEENER
Other Electrical Equipment₹ 67,339.18 Cr.+79.2%+15.4%16.8−16.9%
Apar Industries
APARINDS
Other Electrical Equipment₹ 60,078.43 Cr.+29.1%+77.6%50+9.4%
Credit rating raised
Premier Energies
PREMIERENE
Other Electrical Equipment₹ 40,038.53 Cr.+35.3%+53.2%23.3−16.8%
Expansion or acquisition
MTAR Technologies
MTARTECH
Other Electrical Equipment₹ 19,802.86 Cr.+129.9%+354.5%146+26.7%
Diamond Power Infrastructure
DIACABS
Other Electrical Equipment₹ 19,211.27 Cr.+132.6%+280%96.9−0.7%
Emmvee Photovoltaic Power
EMMVEE
Other Electrical Equipment₹ 16,430.2 Cr.+39.3%+60.5%11.5−24.2%
Strong results
Avalon Technologies
AVALON
Other Electrical Equipment₹ 12,418.04 Cr.+49.8%+150%92.9+29.1%
Fujiyama Power Systems
UTLSOLAR
Other Electrical Equipment₹ 11,112.46 Cr.+125.5%−14.7%36.6+1.4%
Genus Power Infrastructures
GENUSPOWER
Other Electrical Equipment₹ 7,884.45 Cr.+44.9%+43.8%12.1−14.5%
Share buyback
Waaree Renewable Technologies
WAAREERTL
Other Electrical Equipment₹ 7,099.31 Cr.+36.5%−30.2%15.2−26.2%
Big order won
Ram Ratna Wires
RAMRAT
Other Electrical Equipment₹ 4,970.07 Cr.+88.7%+118.8%38.4+18.7%
Vikram Solar
VIKRAMSOLR
Other Electrical Equipment₹ 4,614.4 Cr.+37.8%−85%12.9−28.3%
Big order won
Saatvik Green Energy
SAATVIKGL
Other Electrical Equipment₹ 4,469.4 Cr.−44.2%−95.5%18−19.2%
Shilchar Technologies
SHILCTECH
Other Electrical Equipment₹ 4,036.89 Cr.−15.1%−48.8%29.4−13.9%
Yash Highvoltage
544310
Other Electrical Equipment₹ 3,469.79 Cr.+126.7%+300%56.5+35.9%
Websol Energy System
WEBELSOLAR
Other Electrical Equipment₹ 2,626.69 Cr.+70.3%+16.4%8.4−32.4%
Ravindra Energy
RELTD
Other Electrical Equipment₹ 2,588.94 Cr.−26.2%−92.8%43.3−24.3%
Expansion or acquisition
Rishabh Instruments
RISHABH
Other Electrical Equipment₹ 2,478.74 Cr.+4.2%−5%30.8+5.9%
Oriana Power
ORIANA
Other Electrical Equipment₹ 2,438.3 Cr.+223.5%+165.3%9.6−11%
Modern Insulators
515008
Other Electrical Equipment₹ 2,009.03 Cr.+33.3%+100%21.3−8.2%
Advait Energy Transitions
ADVAIT
Other Electrical Equipment₹ 1,726.69 Cr.+51.7%+66.7%30−25.8%
Hindusthan Insulators & Industries Ltd
539984
Other Electrical Equipment₹ 1,473.25 Cr.+81.3%—36.9—
Servotech Renewable Power System
SERVOTECH
Other Electrical Equipment₹ 1,424.18 Cr.+57.8%+77.1%38.2−29.5%
Modison
MODISONLTD
Other Electrical Equipment₹ 1,319.12 Cr.+92.4%+91.7%11.4+44.9%
Strong results
RIR Power Electronics
RIR
Other Electrical Equipment₹ 1,179.66 Cr.−9.5%−42.8%178.3−9.5%
Strong results
Vivid Electromech
VIVIDEL
Other Electrical Equipment₹ 1,093.2 Cr.——31.9+5%
Strong results
INDO SMC Ltd
544681
Other Electrical Equipment₹ 903.46 Cr.——27+0.2%
Salzer Electronics
SALZERELEC
Other Electrical Equipment₹ 848.41 Cr.+12.4%−51.9%19.3−16.5%
Permanent Magnets
PERMAGN
Other Electrical Equipment₹ 734.57 Cr.+18.1%−38.4%56.3—
Prostarm Info Systems
PROSTARM
Other Electrical Equipment₹ 705.77 Cr.+48.7%+221.2%19.7−5%
Kirloskar Electric Company
KECL
Other Electrical Equipment₹ 688.59 Cr.−21.5%Loss47.3−23.2%
Credit rating raised
Supreme Power Equipment
SUPREMEPWR
Other Electrical Equipment₹ 686.01 Cr.+85.5%+54.6%27.7+31%
Big order won
Mangal Electrical Industries
MEIL
Other Electrical Equipment₹ 660.25 Cr.+40.3%+101.6%14.3−15.3%
Credit rating cut
Saakshi Medtech and Panels
SAAKSHI
Other Electrical Equipment₹ 640.21 Cr.−6.6%0%58+20.5%
Parth Electricals & Engineering
PARTH
Other Electrical Equipment₹ 630.09 Cr.——45.4−3.9%
Big order won
GEE
504028
Other Electrical Equipment₹ 604.74 Cr.+29.9%+599%33.4+4.9%
Solex Energy
SOLEX
Other Electrical Equipment₹ 574.74 Cr.+4.1%−68.2%7.2−41%
Big order won
Delton Cables
504240
Other Electrical Equipment₹ 565.63 Cr.+83.2%+146.4%29.6+57.6%
Sugs Lloyd
544501
Other Electrical Equipment₹ 553.77 Cr.+32%+29.5%18.6+75.6%
Ganesh Green Bharat
GGBL
Other Electrical Equipment₹ 523.3 Cr.+714.6%+250%6.9−21.4%
SPEL Semiconductor
SPELS
Other Electrical Equipment₹ 495.07 Cr.−95.9%Loss168.6—
GP Eco Solutions India
GPECO
Other Electrical Equipment₹ 447.59 Cr.+565.9%+3,200%11.1−10%
Urja Global
URJA
Other Electrical Equipment₹ 402.38 Cr.−26.6%−55.7%311.6−9.8%
Artemis Electricals and Projects
AEPL
Other Electrical Equipment₹ 355.47 Cr.−17.6%−4.4%41+4.4%
Akanksha Power and Infrastructure
AKANKSHA
Other Electrical Equipment₹ 305.11 Cr.+120.7%+193.9%51.7+115.5%
Kaycee Industries
504084
Other Electrical Equipment₹ 229.56 Cr.+7.8%−17.1%55.1−15.6%
RMC Switchgears
RMC
Other Electrical Equipment₹ 214.96 Cr.−77.5%−78.9%9.5−26.4%
Citizen Solar Ltd
538786
Other Electrical Equipment₹ 209.38 Cr.−29.4%−62%10.7−47.9%
Power and Instrumentation (Gujarat)
PIGL
Other Electrical Equipment₹ 187.95 Cr.−1.5%+3.1%12.8−13%
Sahaj Solar
SAHAJSOLAR
Other Electrical Equipment₹ 170.28 Cr.+120%+108.3%5.7−33.3%
Expansion or acquisition
Aplab
517096
Other Electrical Equipment₹ 163.13 Cr.−37.8%Loss23.2−23.1%
Eppeltone Engineers
EEPL
Other Electrical Equipment₹ 161.86 Cr.——13.1+26.3%
Dhanashree Electronics
542679
Other Electrical Equipment₹ 144.81 Cr.−11.3%−23.8%42.1−8.3%
Amba Enterprises
539196
Other Electrical Equipment₹ 137.2 Cr.+12.6%+38.7%15.6−1.3%
Shivalic Power Control
SPCL
Other Electrical Equipment₹ 125.4 Cr.——9.8−32.9%
G V Electricals Ltd
544859
Other Electrical Equipment₹ 103.88 Cr.——9.9—
JSL Industries
504080
Other Electrical Equipment₹ 95.56 Cr.+19.1%+7.5%28.5−6.1%
Smarten Power Systems
SMARTEN
Other Electrical Equipment₹ 95 Cr.——11−5.1%
RTS Power Corporation
RTSPOWR
Other Electrical Equipment₹ 85.12 Cr.−13%+29.4%33.1—
Jigar Cables Limited
540651
Other Electrical Equipment₹ 58.57 Cr.+21%+77.9%32.50%
Vdeal System
VDEAL
Other Electrical Equipment₹ 54.28 Cr.+54.1%+39.1%13.1−23.8%
Integra Switchgear
517423
Other Electrical Equipment₹ 50.52 Cr.+100%Loss2,164.8—
Gujarat Poly Electronics
517288
Other Electrical Equipment₹ 49.65 Cr.+18.4%−75.3%1.9−14.1%
ATC Energies System
ATCENERGY
Other Electrical Equipment₹ 42.92 Cr.−28.9%Loss9.6+1.4%
Gensol Engineering
GENSOL
Other Electrical Equipment₹ 39.62 Cr.+56.8%+50%0.4−39%
Electro Force (India)
EFORCE
Other Electrical Equipment₹ 39.31 Cr.−27.6%Loss62.4−24.5%
Cybele Industries
531472
Other Electrical Equipment₹ 38.53 Cr.+97%Loss1.4−23.6%
Relicab Cable Manufacturing
539760
Other Electrical Equipment₹ 34.55 Cr.+59.9%−22.2%19.5−3.8%
Switching Technologies Gunther
517201
Other Electrical Equipment₹ 32.3 Cr.−53.7%Loss22.9+10%
Incap
517370
Other Electrical Equipment₹ 31.01 Cr.−45.6%−63.3%106.9−22.3%
Alfa Transformers
517546
Other Electrical Equipment₹ 28.73 Cr.+14%Loss17.3−12%
Galada Power & Telecommunication Ltd
504697
Other Electrical Equipment₹ 28.39 Cr.—Loss1.7+136.2%
Premier Capital Services
511016
Other Electrical Equipment₹ 25.05 Cr.+25%—37.4+21%
Equilateral Enterprises
531262
Other Electrical Equipment₹ 10.42 Cr.−37.4%−68.7%80.2−49.2%
Continental Controls
531460
Other Electrical Equipment₹ 7.8 Cr.—+5,100%86.3+36.3%
SGN Telecoms Ltd
531812
Other Electrical Equipment₹ 4.77 Cr.—Loss21.6+14%
Perfect Infraengineers
PERFECT
Other Electrical Equipment₹ 3.04 Cr.——30.5−32.7%
ALPEX SOLAR LIMITED
ALPEXSOLAR
Other Electrical Equipment—+32.4%−4.8%8.6−16.4%
Credit rating raised
Lakshmi Electrical Control Systems
504258
Other Electrical Equipment————+3.6%
Magnus Steel and Infra
517320
Other Electrical Equipment————−51.4%
S&S Power Switchgear Ltd
S&SPOWER
Other Electrical Equipment—+20%Loss41.4−13%
Sungarner Energies
SEL
Other Electrical Equipment—+380.4%+238.6%17+4.1%
Oriana Power
ORIANA
Other 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.