Infra - Power - Generation/Distribution Stocks in India

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.

Revenue Scale & Growth Durability

Kalpataru Projects International Ltd has the highest Revenue among the 3 Infra - Power - Generation/Distribution companies compared here, at ₹27,143 crore. Reliance Infrastructure Ltd is next at ₹20,441 crore. The same company also holds the highest Revenue growth, at 21.6%. 3 of 3 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Kalpataru Projects International Ltd is the scale leader at ₹27,143 crore, 32.8% ahead of Reliance Infrastructure Ltd. Kalpataru Projects International Ltd's growth is 21.6% from a ₹27,143 crore base, with 14 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Kalpataru Projects International Ltd is the scale benchmark; Kalpataru Projects International Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Kalpataru Projects International Ltd's growth falls below Kalpataru Projects International Ltd's for two consecutive comparable reports while operating margin also compresses.

Operating Economics & Margin Trend

GMR Power & Urban Infra Ltd has the highest OPM among the 3 Infra - Power - Generation/Distribution companies compared here, at 23%. Kalpataru Projects International Ltd is next at 8%. The same company also holds the highest Margin change, at +6 percentage points. 3 of 3 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: GMR Power & Urban Infra Ltd leads both opm at 23% and margin change at +6 percentage points.

Investor read: GMR Power & Urban Infra Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Profit Scale & Acceleration

Reliance Infrastructure Ltd has the highest Net profit among the 3 Infra - Power - Generation/Distribution companies compared here, at ₹4,837 crore. Kalpataru Projects International Ltd is next at ₹1,031 crore. Kalpataru Projects International Ltd has the highest Profit growth at 81.5%, so level and change sit with different companies.

What the numbers say: Reliance Infrastructure Ltd leads with ₹4,837 crore of TTM profit, 369.2% above Kalpataru Projects International Ltd. Kalpataru Projects International Ltd shows 81.5% growth from a ₹1,031 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Reliance Infrastructure Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Capacity Spending & Returns On It

No company in this Infra - Power - Generation/Distribution comparison reports capital expenditure on a comparable basis, so there is nothing to rank here — 0 of 3 companies have a usable current reading. The section is shown rather than removed so an unavailable metric is not mistaken for one that was quietly left out.

Withheld from this comparison: Kalpataru Projects International Ltd (KPIL) — its two data sources disagree by up to 11% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

Debt Load & Balance-Sheet Headroom

Kalpataru Projects International Ltd has the lowest Gross debt among the 3 Infra - Power - Generation/Distribution companies compared here, at ₹3,543 crore. Reliance Infrastructure Ltd is next at ₹4,937 crore. Reliance Infrastructure Ltd has the lowest Net debt at ₹2,733 crore, so level and change sit with different companies.

What the numbers say: Reliance Infrastructure Ltd has the clearest covered balance-sheet capacity with ₹2,733 crore and gross debt of ₹4,937 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Return On Capital Employed

Kalpataru Projects International Ltd has the highest ROCE among the 3 Infra - Power - Generation/Distribution companies compared here, at 18.3%. Reliance Infrastructure Ltd is next at 15.3%. The same company also holds the highest ROCE change, at +2 percentage points. 3 of 3 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Kalpataru Projects International Ltd leads ROCE at 18.3%, 3 percentage points above Reliance Infrastructure Ltd. Kalpataru Projects International Ltd has the strongest latest improvement at +2 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: Kalpataru Projects International Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Valuation Against Growth & Quality

No company in this Infra - Power - Generation/Distribution comparison has a valuation figure that passes this section's guard, so the Guarded PEG rank is empty. On P/E, Reliance Infrastructure Ltd is lowest at 1.13×, across 3 of 3 companies with a usable reading.

What the numbers say: There is not enough comparable evidence to name a reliable guarded peg leader.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Enterprise Value & Book Value

Reliance Infrastructure Ltd has the lowest EV/EBITDA among the 3 Infra - Power - Generation/Distribution companies compared here, at 0.5×. GMR Power & Urban Infra Ltd is next at 9.2×. The same company also holds the lowest P/BV, at 0.14×. 3 of 3 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Reliance Infrastructure Ltd leads both ev/ebitda at 0.5× and p/bv at 0.14×.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Market action

Kalpataru Projects International Ltd has the strongest one-year price move in Infra - Power - Generation/Distribution at +9.5%. It also leads on Mansfield relative strength against NIFTY at +6.1%. 1 of 3 covered companies is above zero on that measure. Every line covers 313 weekly closes through 2026-07-17.

What can make this comparison misleading?

This Infra - Power - Generation/Distribution comparison names 6 specific ways its own evidence can mislead, all listed below. All 3 companies here report on comparable dates, so no rank carries a stale marker. 1 has second-feed figures withheld because the two sources disagree. 2 of the 8 ranked sections have fewer than three usable current readings.

Which companies are included?

All 3 companies in the canonical Infra - Power - Generation/Distribution membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

How was this comparison built?

This comparison is built from the reported filings of 3 Infra - Power - Generation/Distribution companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Mar 2026 and market data through 2026-07-24.

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from. Every company's standing is listed in the register above.

Infra - Power - Generation/Distribution company comparison FAQs

These 16 answers restate the Infra - Power - Generation/Distribution comparison above in question form. Every one is computed from the same 3 companies and the same reported filings as the rankings and charts, current through Mar 2026. Price and relative-strength answers run through 2026-07-24. Nothing here is estimated, and none of it is a recommendation.