Heavy Electrical Equipment sector
28 companies · ₹11.0 L cr · 18 with AI deep dives
5y revenue CAGR
median 23.25%(p25 16.61% · p75 28.94%)
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 2026-06-30tailwindRecord order inflows and backlogs signal multi-year demand visibility8 managements
At least eight managements reported record or near-record order inflows and/or backlogs, reflecting broad-based demand from power utilities, renewables, data centers, and…
- Siemens (Q6 FY2026): “ORDERS +32.6% REVENUE +14.6% Strong order and revenue growth amidst challenging macro…”
headwind6 managements🔒headwind5 managements🔒tailwind5 managements🔒headwind4 managements🔒headwind4 managements🔒tailwind6 managements🔒headwind3 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) |
|---|---|---|---|---|
| ABB India Ltd | ₹1.5 L cr | Unlock | roce compoundergross block efficient | |
| Bharat Heavy Electricals Ltd | ₹1.4 L cr | Unlock | earnings quality stronggross block efficient | |
| Hitachi Energy India Ltd | ₹1.4 L cr | Unlock | earnings quality strongcyclical high volatilitygross block efficient | |
| CG Power & Industrial Solutions Ltd | ₹1.3 L cr | Unlock | capex coming onlineroce compoundernet cashgross block efficient | |
| Siemens Ltd | ₹1.3 L cr | Unlock | earnings quality weakcyclical high volatilitygross block efficient | |
| GE Vernova T&D India Ltd | ₹1.1 L cr | Unlock | earnings quality strongcyclical high volatilitygross block efficient | |
| Suzlon Energy Ltd | ₹66,007 cr | Unlock | roce compounderearnings quality weaknet cashcyclical high volatility | |
| Thermax Ltd | ₹52,667 cr | Unlock | latent operating leveragecapex coming onlinecyclical high volatilitygross block efficient | |
| Schneider Electric Infrastructure Ltd | ₹31,801 cr | Unlock | earnings quality strongdeleveraginggross block efficient | |
| Triveni Turbine Ltd | ₹19,392 cr | Unlock | roce compoundergross block efficient | |
| TD Power Systems Ltd | ₹17,462 cr | Strong execution and sector tailwinds fully priced; working capital conversion the soft spot | net cashgross block efficient | |
| Azad Engineering Ltd | ₹15,511 cr | Unlock | capex coming onlinecapex intensity elevatedgross block underutilised | |
| Inox Wind Ltd | ₹13,123 cr | Unlock | cyclical high volatilitycapex intensity elevated | |
| Voltamp Transformers Ltd | ₹9,419 cr | Unlock | capex coming onlineroce compoundergross block efficient | |
| Elecon Engineering Company Ltd | ₹9,319 cr | Unlock | earnings quality stronggross block efficient | |
| Transformers & Rectifiers India Ltd | ₹8,871 cr | Unlock | capex coming onlineearnings quality weakdeleveragingcyclical high volatility | |
| Quality Power Electrical Equipments Ltd | ₹8,583 cr | Unlock | capex coming onlineroce compounderearnings quality weaknet cash | |
| Transrail Lighting Ltd | ₹6,462 cr | Unlock | roce compounderearnings quality stronggross block efficient | |
| Skipper Ltd | ₹5,712 cr | Unlock | earnings quality strongdeleveraginggross block efficient | |
| GE Power India Ltd | ₹4,992 cr | Unlock | cyclical high volatilitygross block efficient | |
| Indo Tech Transformers Ltd | ₹3,634 cr | Unlock | net cashgross block efficient | |
| Exicom Tele-Systems Ltd | ₹2,213 cr | Unlock | levering upcapex intensity elevated | |
| Bajel Projects Ltd | ₹2,030 cr | Unlock | earnings quality stronggross block efficient | |
| Jyoti Structures Ltd | ₹1,281 cr | Unlock | cyclical high volatilitygross block efficient | |
| Swelect Energy Systems Ltd | ₹910 cr | Unlock | earnings quality stronglevering upcyclical high volatilitycapex intensity elevated | |
| Aartech Solonics Ltd | ₹146 cr | Unlock | cyclical high volatilitygross block efficient | |
| Surana Solar Ltd | ₹133 cr | Unlock | latent operating leverageearnings quality strongcapital destroyercyclical high volatility | |
| Tarapur Transformers Ltd | ₹33 cr | Unlock | cyclical high volatilitygross block underutilised |