Heavy Electrical Equipment
28 companies · ₹11.2 L cr · 4 with AI deep dives
5y revenue CAGR
median 25.43%(p25 17.4% · p75 29.34%)
5y avg ROCE
median 20.23%(p25 10.73% · p75 26.25%)
Debt / equity
median 0.3x(p25 0.09x · p75 0.55x)
AI sector brief
from the bucket's latest earnings calls · as of 2026-03-31tailwindOrder backlogs at record levels, underpinning multi-year revenue visibility7 managements
Every covered company reported a year-end order backlog or unexecuted order book at or near all-time highs, with growth rates ranging from 27% (Thermax) to 91% (CGPOWER Power…
- POWERINDIA (Q4FY26): “OBL At the end of Mar-25 19,245.9 At the end of Mar-26 29,555.3 53.6%”
tailwind6 managements🔒tailwind5 managements🔒tailwind5 managements🔒headwind3 managements🔒headwind2 managements🔒headwind2 managements🔒headwind2 managements🔒
7 more themes from this quarter's earnings calls are locked. A free account opens the full brief: every theme with verbatim management quotes, the demand picture, companies running against the tide, and the regulatory & disruption watch. Sign up free →
| Company | Mcap | AI verdict | Signals | Stated KPIs (latest call) |
|---|---|---|---|---|
| Hitachi Energy India Ltd | ₹1.5 L cr | - | earnings quality strongstory tensioncyclical high volatilitygross block efficient | |
| CG Power & Industrial Solutions Ltd | ₹1.4 L cr | 🔒 unlock to view | capex coming onlineroce compoundernet cashgross block efficient | |
| ABB India Ltd | ₹1.4 L cr | 🔒 unlock to view | roce compoundergross block efficient | |
| Bharat Heavy Electricals Ltd | ₹1.3 L cr | 🔒 unlock to view | earnings quality strongstory tensiongross block efficient | |
| Siemens Ltd | ₹1.3 L cr | - | earnings quality weakcyclical high volatilitygross block efficient | |
| GE Vernova T&D India Ltd | ₹1.3 L cr | 🔒 unlock to view | earnings quality strongstory tensioncyclical high volatilitygross block efficient | |
| Suzlon Energy Ltd | ₹75,568 cr | - | roce compounderearnings quality weaknet cashcyclical high volatility | |
| Thermax Ltd | ₹55,980 cr | 🔒 unlock to view | latent operating leveragecapex coming onlinecyclical high volatilitygross block efficient | |
| Schneider Electric Infrastructure Ltd | ₹26,469 cr | - | earnings quality strongdeleveraginggross block efficient | |
| Triveni Turbine Ltd | ₹21,363 cr | - | roce compoundergross block efficient | |
| TD Power Systems Ltd | ₹18,708 cr | Mixed guidance delivery; strong operations priced ahead of management's FY28 capacity ceiling | net cashstory tensiongross block efficient | |
| Inox Wind Ltd | ₹15,212 cr | - | cyclical high volatilitycapex intensity elevated | |
| Azad Engineering Ltd | ₹13,788 cr | - | capex coming onlinecapex intensity elevatedgross block underutilised | |
| Elecon Engineering Company Ltd | ₹11,981 cr | - | earnings quality stronggross block efficient | |
| Voltamp Transformers Ltd | ₹9,814 cr | - | capex coming onlineroce compoundergross block efficient | |
| Quality Power Electrical Equipments Ltd | ₹9,457 cr | - | capex coming onlineroce compounderearnings quality weaknet cash | |
| Transformers & Rectifiers India Ltd | ₹9,455 cr | - | capex coming onlineearnings quality weakdeleveragingcyclical high volatility | |
| Transrail Lighting Ltd | ₹6,444 cr | 🔒 unlock to view | roce compounderearnings quality stronggross block efficient | |
| GE Power India Ltd | ₹6,249 cr | - | story tensioncyclical high volatilitygross block efficient | |
| Skipper Ltd | ₹6,113 cr | 🔒 unlock to view | earnings quality strongdeleveraginggross block efficient | |
| Indo Tech Transformers Ltd | ₹2,761 cr | - | net cashgross block efficient | |
| Bajel Projects Ltd | ₹2,295 cr | - | earnings quality stronggross block efficient | |
| Exicom Tele-Systems Ltd | ₹1,968 cr | - | levering upcapex intensity elevated | |
| Jyoti Structures Ltd | ₹1,448 cr | - | cyclical high volatilitygross block efficient | |
| Swelect Energy Systems Ltd | ₹967 cr | - | earnings quality stronglevering upcyclical high volatilitycapex intensity elevated | |
| Surana Solar Ltd | ₹135 cr | - | gross block efficient | |
| Aartech Solonics Ltd | ₹132 cr | - | margin under pressurestory tensioncyclical high volatilitygross block efficient | |
| Tarapur Transformers Ltd | ₹38 cr | - | cyclical high volatilitygross block underutilised |