Is the Power - Generation/Distribution sector outperforming NIFTY 500?
The 52-week sector comparison is unavailable. 5 of 20 covered companies currently have positive Mansfield relative strength versus NIFTY 500.
20-quarter listed-company comparison
Power - Generation/Distribution Stocks in India
Power - Generation/Distribution: NTPC Ltd owns the largest revenue base; Mac Charles (India) Ltd has the fastest current growth.
Nifty Power - Generation/Distribution Index — Constituents & Performance
The Power - Generation/Distribution companies below are the listed Indian Power - Generation/Distribution universe this page tracks — the same constituent set people search for as the Nifty Power - Generation/Distribution index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.
The sector itself · before any single company
How has Power - Generation/Distribution moved against NIFTY 500?
The line below covers 5.1 years. Over the most recent two of them this sector is 21% behind NIFTY 500. Earnings across its companies grew 7% on average over the last four reported quarters — close to flat.
ASLEEP · 1y −7.2%~Price down, no fundamental support1 of 20 companies ahead of NIFTY 500 by 5% or more over three months3 are 20% or more behind over a year while earnings grew 20% or more
RS — · 9/20 >200d (−2) · 1/20 lead (−9) · EPS 11/20↑
Power - Generation/Distribution, equal-weighted, based at 200
NIFTY 500, same base, same start
trailing 12-month earnings per share rising
falling
Strength anatomy
NarrowHow much of the sector is participating, how recently, and whether the movers score well.
Together1 of 20 stocks moving
Fresh0 crossed in the last 4 weeks
Backed by scoresmovers score +8 vs the sector average
Down the cap ladder — bar is now, tick is four weeks ago
Large
1/4−1
Mid
0/7−2
Small
0/9−6
Participation is not spreading downward this month; the larger companies are still carrying most of it.
Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 20 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.
Sector relative strength · before individual stocks
Is Power - Generation/Distribution outperforming NIFTY 500?
The 52-week comparison of Power - Generation/Distribution against NIFTY 500 is not available from the current market series. 5 of 20 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Adani Green Energy Ltd is the strongest against the sector itself at +43.4%. Readings are as of 2026-07-19.
—Sector vs NIFTY 500 · 13 weeks
—Sector vs NIFTY 500 · 52 weeks
5/20Stocks leading NIFTY 500
8/20Stocks leading sector
Sector metric: 19.1 as of 2026-07-19 · CONSOLIDATION · falling.
The central tension: the companies with the most scale are not necessarily the companies creating the most change.
Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.
Bottom line
The 52-week sector comparison is unavailable. 5 of 20 covered companies currently have positive Mansfield relative strength versus NIFTY 500. NTPC Ltd leads with revenue of ₹1,91,059 crore, based on 20 of 20 comparable companies through Jun 2026. Mac Charles (India) Ltd has the fastest current revenue growth at 100%, across 20 of 20 comparable companies.
Which Power - Generation/Distribution company is largest by revenue?
NTPC Ltd leads with revenue of ₹1,91,059 crore, based on 20 of 20 comparable companies through Jun 2026.
Which Power - Generation/Distribution company is growing fastest?
Mac Charles (India) Ltd has the fastest current revenue growth at 100%, across 20 of 20 comparable companies.
Which Power - Generation/Distribution company has the strongest 4-Factor Sector Score?
NLC India Ltd ranks first at 62.4/100 with 79% evidence confidence. The score prioritizes research; it is not a buy recommendation.
Which Power - Generation/Distribution company reports the most CAPEX?
NTPC Green Energy Ltd reports the largest latest CAPEX at ₹1,652 crore, with 1 of 20 companies comparable.
Which Power - Generation/Distribution company has the least gross debt?
India Power Corporation Ltd has the lowest comparable gross debt at ₹127 crore. NTPC Ltd has the highest at ₹2,71,005 crore.
Which Power - Generation/Distribution company has the lowest comparable PEG?
SJVN Ltd has the lowest comparable Guarded PEG at 0.29, among 7 of 20 companies that pass the metric’s comparability rules.
How much history does this Power - Generation/Distribution comparison include?
The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.
How is the 4-Factor Sector Score calculated?
The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.
Companies
20
complete canonical membership
Combined market value
₹15.6 L Cr
Adani Power Ltd
Revenue growing
16/20
positive TTM year-on-year growth
Beating NIFTY 500
5/20
positive Mansfield relative strength
Global company selection
00 · research priority, made explicit
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.
Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
NLC India Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 79% evidence confidence.
Adani Power Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.
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.
1. NLC India Ltd · NLCINDIA
62.4/100 · Mixed-positive evidence · 79% evidence
Exact sum: 23.8 + 12.8 + 10.5 + 15.3 = 62.4
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
23.8/35Growth & earnings
Revenue 14.5% · PAT 38.9% · OPM change 13 pp
83% evidence
12.8/25Capital efficiency
ROCE 10.4% · debt/equity 1.3×
80% evidence
10.5/20Valuation
P/E 11.5× · PEG —
50% evidence
15.3/20Relative strength
RS sector 11.8% · RS bench 7.1% · 1Y 26.5%
100% evidence
2. Mac Charles (India) Ltd · 507836
58.5/100 · Mixed-positive evidence · 62% evidence
Exact sum: 25.8 + 5.7 + 10 + 17 = 58.5
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
25.8/35Growth & earnings
Revenue 100% · PAT -8.4% · OPM change 547 pp
62% evidence
5.7/25Capital efficiency
ROCE 5.4% · debt/equity 16.21×
80% evidence
10.0/20Valuation
P/E — · PEG —
0% evidence
17.0/20Relative strength
RS sector 7.4% · RS bench 4.9% · 1Y 16.6%
100% evidence
3. KPI Green Energy Ltd · KPIGREEN
56.7/100 · Mixed-positive evidence · 73% evidence
Exact sum: 22.8 + 14.7 + 13.2 + 6 = 56.7
Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -5% and the one-year return is -25.2%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
22.8/35Growth & earnings
Revenue 55.4% · PAT 56.6% · OPM change 9 pp
83% evidence
14.7/25Capital efficiency
ROCE 13.8% · debt/equity 1.71×
80% evidence
13.2/20Valuation
P/E 16.2× · PEG —
50% evidence
6.0/20Relative strength
RS sector -5% · RS bench -8% · 1Y -25.2%
70% evidence
4. JSW Energy Ltd · JSWENERGY
56.6/100 · Mixed-positive evidence · 83% evidence
Exact sum: 21.8 + 11.1 + 7.3 + 16.4 = 56.6
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
21.8/35Growth & earnings
Revenue 35.4% · PAT 7.7% · OPM change 1 pp
95% evidence
11.1/25Capital efficiency
ROCE 8.2% · debt/equity 2.5×
80% evidence
7.3/20Valuation
P/E 50.4× · PEG —
50% evidence
16.4/20Relative strength
RS sector 8% · RS bench 3.3% · 1Y 2%
100% evidence
5. Adani Power Ltd · ADANIPOWER
56.5/100 · Mixed-positive evidence · 100% evidence
Exact sum: 14.7 + 16.4 + 11.5 + 13.9 = 56.5
Decision use: Price leads the evidence: RS versus the benchmark is 29.3%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
14.7/35Growth & earnings
Revenue 6.6% · PAT 19.7% · OPM change 2 pp
100% evidence
16.4/25Capital efficiency
ROCE 17.2% · debt/equity 0.84×
100% evidence
11.5/20Valuation
P/E 28.9× · PEG 0.65
100% evidence
13.9/20Relative strength
RS sector 35.1% · RS bench 29.3% · 1Y 80.3%
100% evidence
6. Adani Green Energy Ltd · ADANIGREEN
56.1/100 · Mixed-positive evidence · 76% evidence
Exact sum: 16.4 + 11 + 8.7 + 20 = 56.1
Decision use: Price leads the evidence: RS versus the benchmark is 37.1%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
16.4/35Growth & earnings
Revenue 11% · PAT -2.3% · OPM change 10 pp
95% evidence
11.0/25Capital efficiency
ROCE 7.4% · debt/equity 5.19×
80% evidence
8.7/20Valuation
P/E 119× · PEG —
15% evidence
20.0/20Relative strength
RS sector 43.4% · RS bench 37.1% · 1Y 47%
100% evidence
7. Gujarat Industries Power Co Ltd · GIPCL
55.7/100 · Mixed-positive evidence · 90% evidence
Exact sum: 26.5 + 10.7 + 11.3 + 7.2 = 55.7
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
26.5/35Growth & earnings
Revenue 18.7% · PAT 89.6% · OPM change 11 pp
88% evidence
10.7/25Capital efficiency
ROCE 5.5% · debt/equity 0.94×
100% evidence
11.3/20Valuation
P/E 6.1× · PEG 2.48
100% evidence
7.2/20Relative strength
RS sector -15.4% · RS bench -0.6% · 1Y -23.3%
70% evidence
8. SJVN Ltd · SJVN
53.7/100 · Mixed-positive evidence · 78% evidence
Exact sum: 24.4 + 9 + 14.4 + 5.9 = 53.7
Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -10.1% and the one-year return is -30.1%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
24.4/35Growth & earnings
Revenue 47.4% · PAT -21.5% · OPM change 13 pp
62% evidence
9.0/25Capital efficiency
ROCE 5.6% · debt/equity 2.27×
95% evidence
14.4/20Valuation
P/E 41.4× · PEG 0.29
65% evidence
5.9/20Relative strength
RS sector -10.1% · RS bench -14.2% · 1Y -30.1%
100% evidence
9. BF Utilities Ltd · BFUTILITIE
53.6/100 · Thin evidence · provisional · 51% evidence
Exact sum: 18.8 + 15.5 + 13.8 + 5.5 = 53.6
Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
18.8/35Growth & earnings
Revenue -0.6% · PAT 16.8% · OPM change 3 pp
36% evidence
15.5/25Capital efficiency
ROCE 29.9% · debt/equity 4.61×
60% evidence
13.8/20Valuation
P/E 14.3× · PEG —
50% evidence
5.5/20Relative strength
RS sector -34% · RS bench -2.5% · 1Y -24.4%
70% evidence
10. CESC Ltd · CESC
49.7/100 · Mixed-negative evidence · 79% evidence
Exact sum: 16.2 + 12.6 + 10.6 + 10.3 = 49.7
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16.2/35Growth & earnings
Revenue 9.2% · PAT 13.1% · OPM change -3 pp
83% evidence
12.6/25Capital efficiency
ROCE 10.6% · debt/equity 1.73×
80% evidence
10.6/20Valuation
P/E 14× · PEG —
50% evidence
10.3/20Relative strength
RS sector 2.5% · RS bench -1.8% · 1Y -7.6%
100% evidence
11. NTPC Ltd · NTPC
46.3/100 · Mixed-negative evidence · 83% evidence
Exact sum: 15 + 12.7 + 11.7 + 6.9 = 46.3
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
15.0/35Growth & earnings
Revenue 2.4% · PAT 15.4% · OPM change 5 pp
95% evidence
12.7/25Capital efficiency
ROCE 8.3% · debt/equity 1.33×
80% evidence
11.7/20Valuation
P/E 12.1× · PEG —
50% evidence
6.9/20Relative strength
RS sector -0.3% · RS bench -4.3% · 1Y -0.1%
100% evidence
12. NHPC Ltd · NHPC
45.9/100 · Mixed-negative evidence · 96% evidence
Exact sum: 17.4 + 9.4 + 4.4 + 14.7 = 45.9
Decision use: Price leads the evidence: RS versus the benchmark is -1.7%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
17.4/35Growth & earnings
Revenue 11.9% · PAT 23.7% · OPM change -28 pp
88% evidence
9.4/25Capital efficiency
ROCE 5.7% · debt/equity 1.26×
100% evidence
4.4/20Valuation
P/E 21.2× · PEG 3.32
100% evidence
14.7/20Relative strength
RS sector 2.6% · RS bench -1.7% · 1Y -9%
100% evidence
13. Torrent Power Ltd · TORNTPOWER
44.7/100 · Mixed-negative evidence · 93% evidence
Exact sum: 8.7 + 15.8 + 10 + 10.2 = 44.7
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8.7/35Growth & earnings
Revenue -0.7% · PAT -19.2% · OPM change 0 pp
83% evidence
15.8/25Capital efficiency
ROCE 13.7% · debt/equity 0.73×
95% evidence
10.0/20Valuation
P/E 31.6× · PEG 0.75
100% evidence
10.2/20Relative strength
RS sector 3.7% · RS bench -0.5% · 1Y 1.6%
100% evidence
14. Jaiprakash Power Ventures Ltd · JPPOWER
43.1/100 · Mixed-negative evidence · 77% evidence
Exact sum: 11.2 + 11.8 + 11 + 9.1 = 43.1
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11.2/35Growth & earnings
Revenue 8.8% · PAT -13.7% · OPM change 5 pp
100% evidence
11.8/25Capital efficiency
ROCE 7% · debt/equity 0.27×
100% evidence
11.0/20Valuation
P/E 13.9× · PEG —
15% evidence
9.1/20Relative strength
RS sector -0.2% · RS bench -5.8% · 1Y -26.2%
70% evidence
15. India Power Corporation Ltd · DPSCLTD
41.4/100 · Mixed-negative evidence · 69% evidence
Exact sum: 18.2 + 8.3 + 11.1 + 3.8 = 41.4
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
18.2/35Growth & earnings
Revenue 10.1% · PAT 82.4% · OPM change 65.3 pp
62% evidence
8.3/25Capital efficiency
ROCE 3.5% · debt/equity 0.14×
95% evidence
11.1/20Valuation
P/E 54.5× · PEG —
50% evidence
3.8/20Relative strength
RS sector -26.4% · RS bench -26.7% · 1Y -46%
70% evidence
16. Orient Green Power Company Ltd · GREENPOWER
40.8/100 · Mixed-negative evidence · 74% evidence
Exact sum: 12.7 + 13.7 + 10.1 + 4.3 = 40.8
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12.7/35Growth & earnings
Revenue 0.7% · PAT 15.5% · OPM change -1 pp
95% evidence
13.7/25Capital efficiency
ROCE 7.2% · debt/equity 0.45×
95% evidence
10.1/20Valuation
P/E 22× · PEG —
15% evidence
4.3/20Relative strength
RS sector -18.5% · RS bench -16.2% · 1Y -33.4%
70% evidence
17. NTPC Green Energy Ltd · NTPCGREEN
36.2/100 · Mixed-negative evidence · 93% evidence
Exact sum: 19.1 + 8.5 + 3.5 + 5.1 = 36.2
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
19.1/35Growth & earnings
Revenue 42.1% · PAT 8.8% · OPM change 0 pp
100% evidence
8.5/25Capital efficiency
ROCE 3.5% · debt/equity 1.67×
100% evidence
3.5/20Valuation
P/E 134× · PEG 4.9
65% evidence
5.1/20Relative strength
RS sector -3.3% · RS bench -7.4% · 1Y -16.9%
100% evidence
18. Reliance Power Ltd · RPOWER
34.6/100 · Adverse evidence · 70% evidence
Exact sum: 11.2 + 10.4 + 10 + 3 = 34.6
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11.2/35Growth & earnings
Revenue 0.5% · PAT -80% · OPM change 1 pp
88% evidence
10.4/25Capital efficiency
ROCE 6.1% · debt/equity 0.92×
100% evidence
10.0/20Valuation
P/E — · PEG —
0% evidence
3.0/20Relative strength
RS sector -40.9% · RS bench -29.4% · 1Y -61.8%
70% evidence
19. RattanIndia Power Ltd · RTNPOWER
33.5/100 · Adverse evidence · 75% evidence
Exact sum: 12.2 + 8.2 + 7.9 + 5.2 = 33.5
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12.2/35Growth & earnings
Revenue -6.4% · PAT -4.3% · OPM change 4 pp
74% evidence
8.2/25Capital efficiency
ROCE 6.2% · debt/equity 0.8×
100% evidence
7.9/20Valuation
P/E 41.6× · PEG —
50% evidence
5.2/20Relative strength
RS sector -13.9% · RS bench -13.7% · 1Y -42.6%
70% evidence
20. Tata Power Company Ltd · TATAPOWER
31.3/100 · Adverse evidence · 93% evidence
Exact sum: 8.6 + 10.4 + 5.2 + 7.1 = 31.3
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8.6/35Growth & earnings
Revenue -4.7% · PAT 7.1% · OPM change -2 pp
83% evidence
10.4/25Capital efficiency
ROCE 10.5% · debt/equity 1.93×
95% evidence
5.2/20Valuation
P/E 31.1× · PEG 4.63
100% evidence
7.1/20Relative strength
RS sector -0.3% · RS bench -4.5% · 1Y -7.5%
100% evidence
01 · compare level, then change
Revenue Scale & Growth Durability
NTPC Ltd has the highest Revenue among the 20 Power - Generation/Distribution companies compared here, at ₹1,91,059 crore. Tata Power Company Ltd is next at ₹62,428 crore. Mac Charles (India) Ltd has the highest Revenue growth at the 100% top of the scoring scale, so level and change sit with different companies.
What the numbers say: NTPC Ltd is the scale leader at ₹1,91,059 crore, 206% ahead of Tata Power Company Ltd. Mac Charles (India) Ltd's growth is stored at the ≥100% scoring cap; the uncapped TTM change is 1010% from a ₹111 crore base, with 14 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.
LeaderNTPC Ltd · ₹1,91,059 crore
Gap206% versus #2 · Tata Power Company Ltd
Persistence5/8 recent comparable periods
Coverage20/20 companies · 329 observations
Investor read: NTPC Ltd is the scale benchmark; Mac Charles (India) Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.
This conclusion weakens if: NTPC Ltd's growth falls below Mac Charles (India) Ltd's for two consecutive comparable reports while operating margin also compresses.
Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1NTPC Ltd NTPC₹1.9 L Cr
2Tata Power Company Ltd TATAPOWER₹62.4K Cr
3Adani Power Ltd ADANIPOWER₹59.0K Cr
4Torrent Power Ltd TORNTPOWER₹29.0K Cr
5JSW Energy Ltd JSWENERGY₹19.0K Cr
Revenue growthfastest growers
1Mac Charles (India) Ltd 507836100%
2KPI Green Energy Ltd KPIGREEN55%
3SJVN Ltd SJVN47%
4NTPC Green Energy Ltd NTPCGREEN42%
5JSW Energy Ltd JSWENERGY35%
Revenue · company comparison
20/20 level · 20/20 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Revenue | Revenue growth | Reported |
|---|---|---|---|
| NTPC Ltd NTPC | ₹50.7K Cr | 7.8% | Jun 2026 |
| Adani Power Ltd ADANIPOWER | ₹18.9K Cr | 34% | Jun 2026 |
| Tata Power Company Ltd TATAPOWER | ₹14.9K Cr | -13% | Mar 2026 |
| Torrent Power Ltd TORNTPOWER | ₹6.4K Cr | -0.8% | Mar 2026 |
| JSW Energy Ltd JSWENERGY | ₹5.2K Cr | 1.2% | Jun 2026 |
| NLC India Ltd NLCINDIA | ₹5.0K Cr | 31% | Mar 2026 |
| Adani Green Energy Ltd ADANIGREEN | ₹4.4K Cr | 17% | Jun 2026 |
| CESC Ltd CESC | ₹4.1K Cr | 5.7% | Mar 2026 |
| NHPC Ltd NHPC | ₹2.8K Cr | 20% | Mar 2026 |
| Reliance Power Ltd RPOWER | ₹1.9K Cr | -4.6% | Mar 2026 |
| Jaiprakash Power Ventures Ltd JPPOWER | ₹1.8K Cr | 12% | Jun 2026 |
| SJVN Ltd SJVN | ₹1.5K Cr | 197% | Mar 2026 |
| NTPC Green Energy Ltd NTPCGREEN | ₹1.1K Cr | 63% | Jun 2026 |
| RattanIndia Power Ltd RTNPOWER | ₹799 Cr | -2.8% | Jun 2026 |
| KPI Green Energy Ltd KPIGREEN | ₹796 Cr | 40% | Mar 2026 |
| Gujarat Industries Power Co Ltd GIPCL | ₹428 Cr | 27% | Mar 2026 |
| BF Utilities Ltd BFUTILITIE | ₹235 Cr | 12% | Dec 2025 |
| India Power Corporation Ltd DPSCLTD⚠ unverified | ₹166 Cr | 21% | Mar 2026 |
| Orient Green Power Company Ltd GREENPOWER⚠ unverified | ₹81 Cr | -6.9% | Jun 2026 |
| Mac Charles (India) Ltd 507836 | ₹32 Cr | 1,500% | Mar 2026 |
Full 20-quarter history · every available company
Revenue · reported quarter history
Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Adani Green Energy Ltd · ADANIGREEN
—
—
—
—
—
₹2.0K Cr
₹2.6K Cr
₹2.2K Cr
₹2.2K Cr
₹2.3K Cr
₹2.5K Cr
₹2.8K Cr
₹3.0K Cr
₹2.3K Cr
₹3.1K Cr
₹3.8K Cr
₹3.0K Cr
₹2.6K Cr
₹3.5K Cr
₹4.4K Cr
Adani Power Ltd · ADANIPOWER
₹5.2K Cr
₹5.4K Cr
₹10.6K Cr
₹13.7K Cr
₹7.0K Cr
₹7.8K Cr
₹10.2K Cr
₹11.0K Cr
₹13.0K Cr
₹13.0K Cr
₹13.4K Cr
₹15.0K Cr
₹13.3K Cr
₹13.7K Cr
₹14.2K Cr
₹14.1K Cr
₹13.5K Cr
₹12.5K Cr
₹14.2K Cr
₹18.9K Cr
CESC Ltd · CESC
—
—
—
—
—
₹3.1K Cr
₹3.1K Cr
₹4.3K Cr
₹4.4K Cr
₹3.2K Cr
₹3.4K Cr
₹4.9K Cr
₹4.7K Cr
₹3.6K Cr
₹3.9K Cr
₹5.2K Cr
₹5.3K Cr
₹4.0K Cr
₹4.1K Cr
—
Jaiprakash Power Ventures Ltd · JPPOWER
₹902 Cr
₹1.4K Cr
₹1.4K Cr
₹1.8K Cr
₹1.4K Cr
₹1.2K Cr
₹1.4K Cr
₹1.7K Cr
₹1.4K Cr
₹2.2K Cr
₹1.5K Cr
₹1.8K Cr
₹1.2K Cr
₹1.1K Cr
₹1.3K Cr
₹1.6K Cr
₹1.4K Cr
₹1.2K Cr
₹1.4K Cr
₹1.8K Cr
JSW Energy Ltd · JSWENERGY
—
—
—
—
—
₹2.2K Cr
₹2.7K Cr
₹2.9K Cr
₹3.3K Cr
₹2.5K Cr
₹2.8K Cr
₹2.9K Cr
₹3.2K Cr
₹2.4K Cr
₹3.2K Cr
₹5.1K Cr
₹5.2K Cr
₹4.1K Cr
₹4.5K Cr
₹5.2K Cr
NHPC Ltd · NHPC
₹2.9K Cr
₹2.2K Cr
₹1.6K Cr
₹2.8K Cr
₹3.4K Cr
₹2.6K Cr
₹2.0K Cr
₹2.8K Cr
₹2.9K Cr
₹2.1K Cr
₹1.9K Cr
₹2.7K Cr
₹3.1K Cr
₹2.3K Cr
₹2.3K Cr
₹3.2K Cr
₹3.4K Cr
₹2.2K Cr
₹2.8K Cr
—
NLC India Ltd · NLCINDIA
—
—
—
—
—
₹3.7K Cr
₹5.1K Cr
₹3.3K Cr
₹3.0K Cr
₹3.2K Cr
₹3.5K Cr
₹3.4K Cr
₹3.7K Cr
₹4.4K Cr
₹3.8K Cr
₹3.8K Cr
₹4.2K Cr
₹4.4K Cr
₹5.0K Cr
—
NTPC Green Energy Ltd · NTPCGREEN
—
—
—
—
—
—
—
₹504 Cr
₹504 Cr
₹446 Cr
₹508 Cr
₹578 Cr
₹504 Cr
₹505 Cr
₹622 Cr
₹680 Cr
₹612 Cr
₹653 Cr
₹913 Cr
₹1.1K Cr
NTPC Ltd · NTPC
—
—
—
—
—
₹44.6K Cr
₹44.3K Cr
₹43.1K Cr
₹45.0K Cr
₹42.8K Cr
₹47.6K Cr
₹48.5K Cr
₹44.7K Cr
₹45.1K Cr
₹49.8K Cr
₹47.1K Cr
₹44.8K Cr
₹45.8K Cr
₹49.7K Cr
₹50.7K Cr
SJVN Ltd · SJVN
₹882 Cr
₹549 Cr
₹323 Cr
₹1.0K Cr
₹878 Cr
₹552 Cr
₹504 Cr
₹675 Cr
₹878 Cr
₹543 Cr
₹483 Cr
₹870 Cr
₹1.0K Cr
₹671 Cr
₹504 Cr
₹917 Cr
₹1.0K Cr
₹1.1K Cr
₹1.5K Cr
—
Tata Power Company Ltd · TATAPOWER
₹9.8K Cr
₹10.9K Cr
—
₹14.5K Cr
₹14.0K Cr
₹14.1K Cr
₹12.5K Cr
₹15.2K Cr
₹15.7K Cr
₹14.7K Cr
₹15.8K Cr
₹17.3K Cr
₹15.7K Cr
₹15.4K Cr
₹17.1K Cr
₹18.0K Cr
₹15.5K Cr
₹13.9K Cr
₹14.9K Cr
—
Torrent Power Ltd · TORNTPOWER
₹3.6K Cr
₹3.8K Cr
₹3.7K Cr
₹6.5K Cr
₹5.0K Cr
₹6.4K Cr
₹6.0K Cr
₹7.3K Cr
₹7.0K Cr
₹6.4K Cr
₹6.5K Cr
₹9.0K Cr
₹7.2K Cr
₹6.5K Cr
₹6.5K Cr
₹7.9K Cr
₹7.9K Cr
₹6.8K Cr
₹6.4K Cr
—
Revenue growth · reported quarter history
Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Adani Green Energy Ltd · ADANIGREEN
—
—
—
—
—
—
—
—
—
17%
-2.7%
29%
35%
1.3%
22%
36%
0.1%
12%
14%
17%
Adani Power Ltd · ADANIPOWER
—
—
—
109%
36%
45%
-3.4%
-20%
84%
67%
30%
36%
2.7%
5.2%
6.5%
-5.7%
0.9%
-8.9%
-0.1%
34%
CESC Ltd · CESC
—
—
—
—
—
—
—
—
—
3.7%
9.2%
13%
8.0%
9.8%
14%
7.0%
12%
12%
5.7%
—
Jaiprakash Power Ventures Ltd · JPPOWER
—
—
—
—
54%
-14%
-1.9%
-6.2%
-2.5%
82%
9.8%
2.8%
-9.2%
-48%
-11%
-9.8%
17%
1.4%
3.4%
12%
JSW Energy Ltd · JSWENERGY
—
—
—
—
—
—
—
—
—
13%
3.2%
-1.7%
-0.6%
-4.1%
16%
79%
60%
67%
41%
1.2%
NHPC Ltd · NHPC
—
—
—
15%
14%
20%
24%
-1.0%
-13%
-20%
-7.0%
-2.3%
4.1%
11%
24%
19%
10%
-2.9%
20%
—
NLC India Ltd · NLCINDIA
—
—
—
—
—
—
—
—
—
-14%
-31%
1.8%
23%
39%
8.3%
13%
14%
0.7%
31%
—
NTPC Green Energy Ltd · NTPCGREEN
—
—
—
—
—
—
—
—
—
—
—
15%
0.0%
13%
22%
18%
21%
29%
47%
63%
NTPC Ltd · NTPC
—
—
—
—
—
—
—
—
—
-4.0%
7.6%
13%
-0.6%
5.3%
4.6%
-3.0%
0.2%
1.7%
-0.3%
7.8%
SJVN Ltd · SJVN
—
—
—
52%
-0.5%
0.6%
56%
-33%
0.0%
-1.6%
-4.2%
29%
17%
24%
4.4%
5.4%
0.6%
61%
197%
—
Tata Power Company Ltd · TATAPOWER
—
—
—
45%
43%
29%
—
5.0%
12%
3.7%
27%
14%
-0.3%
5.1%
7.9%
4.3%
-1.0%
-9.4%
-13%
—
Torrent Power Ltd · TORNTPOWER
—
—
—
110%
38%
71%
61%
13%
39%
-1.2%
8.1%
23%
3.1%
2.1%
-1.1%
-12%
9.8%
4.3%
-0.8%
—
02 · compare level, then change
Operating Economics & Margin Trend
Adani Green Energy Ltd has the highest OPM among the 20 Power - Generation/Distribution companies compared here, at 90%. NTPC Green Energy Ltd is next at 89%. Mac Charles (India) Ltd has the highest Margin change at +547 percentage points, so level and change sit with different companies. Its OPM series carries 20 reported observations across the 20-quarter window.
What the numbers say: Adani Green Energy Ltd leads opm at 90%; Mac Charles (India) Ltd leads margin change at +547 percentage points.
LeaderAdani Green Energy Ltd · 90%
Gap1.1% versus #2 · NTPC Green Energy Ltd
Persistence6/8 recent comparable periods
Coverage20/20 companies · 377 observations
Investor read: Adani Green Energy 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.
Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1Adani Green Energy Ltd ADANIGREEN90%
2NTPC Green Energy Ltd NTPCGREEN89%
3Mac Charles (India) Ltd 50783676%
4BF Utilities Ltd BFUTILITIE · older report76%
5Orient Green Power Company Ltd GREENPOWER⚠ unverified68%
Margin changefastest expanders
1Mac Charles (India) Ltd 507836+547.0 pp
2India Power Corporation Ltd DPSCLTD⚠ unverified+65.3 pp
3NLC India Ltd NLCINDIA+13.0 pp
4SJVN Ltd SJVN+13.0 pp
5Gujarat Industries Power Co Ltd GIPCL+11.0 pp
Operating margin · company comparison
20/20 level · 20/20 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | OPM | Margin change | Reported |
|---|---|---|---|
| Adani Green Energy Ltd ADANIGREEN | 90% | +10.0 pp | Jun 2026 |
| NTPC Green Energy Ltd NTPCGREEN | 89% | 0.0 pp | Jun 2026 |
| Mac Charles (India) Ltd 507836 | 76% | +547.0 pp | Mar 2026 |
| BF Utilities Ltd BFUTILITIE | 76% | +3.0 pp | Dec 2025 |
| Orient Green Power Company Ltd GREENPOWER⚠ unverified | 68% | −1.0 pp | Jun 2026 |
| SJVN Ltd SJVN | 61% | +13.0 pp | Mar 2026 |
| JSW Energy Ltd JSWENERGY | 55% | +1.0 pp | Jun 2026 |
| Gujarat Industries Power Co Ltd GIPCL | 46% | +11.0 pp | Mar 2026 |
| Jaiprakash Power Ventures Ltd JPPOWER | 43% | +5.0 pp | Jun 2026 |
| Adani Power Ltd ADANIPOWER | 42% | +2.0 pp | Jun 2026 |
| KPI Green Energy Ltd KPIGREEN | 37% | +9.0 pp | Mar 2026 |
| NLC India Ltd NLCINDIA | 35% | +13.0 pp | Mar 2026 |
| NTPC Ltd NTPC | 32% | +5.0 pp | Jun 2026 |
| Reliance Power Ltd RPOWER | 31% | +1.0 pp | Mar 2026 |
| NHPC Ltd NHPC | 23% | −28.0 pp | Mar 2026 |
| Torrent Power Ltd TORNTPOWER | 18% | 0.0 pp | Mar 2026 |
| CESC Ltd CESC | 18% | −3.0 pp | Mar 2026 |
| Tata Power Company Ltd TATAPOWER | 17% | −2.0 pp | Mar 2026 |
| RattanIndia Power Ltd RTNPOWER | 16% | +4.0 pp | Jun 2026 |
| India Power Corporation Ltd DPSCLTD⚠ unverified | -1.8% | +65.4 pp | Mar 2026 |
Full 20-quarter history · every available company
OPM · reported quarter history
Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Adani Green Energy Ltd · ADANIGREEN
59%
75%
67%
58%
55%
43%
87%
96%
77%
72%
73%
85%
74%
80%
78%
80%
87%
86%
82%
90%
Adani Power Ltd · ADANIPOWER
22%
33%
49%
42%
13%
19%
19%
32%
40%
36%
36%
41%
40%
37%
34%
40%
38%
34%
33%
42%
CESC Ltd · CESC
26%
19%
23%
16%
13%
16%
17%
17%
15%
11%
12%
8.0%
19%
17%
21%
17%
20%
19%
18%
—
Jaiprakash Power Ventures Ltd · JPPOWER
24%
26%
20%
35%
18%
0.8%
16%
31%
30%
26%
48%
45%
32%
25%
29%
38%
33%
15%
9.0%
43%
JSW Energy Ltd · JSWENERGY
45%
42%
46%
34%
37%
28%
28%
42%
58%
44%
42%
49%
52%
37%
38%
54%
58%
50%
50%
55%
NHPC Ltd · NHPC
64%
-3.7%
31%
53%
65%
46%
44%
55%
60%
37%
61%
60%
59%
44%
51%
56%
60%
10%
23%
—
NLC India Ltd · NLCINDIA
39%
33%
35%
36%
34%
-8.0%
24%
36%
28%
29%
9.0%
32%
28%
23%
22%
24%
34%
30%
35%
—
NTPC Green Energy Ltd · NTPCGREEN
—
—
—
—
—
—
—
—
91%
89%
86%
89%
83%
84%
90%
89%
86%
82%
85%
89%
NTPC Ltd · NTPC
28%
33%
31%
25%
23%
29%
27%
29%
28%
27%
29%
28%
26%
30%
30%
27%
29%
32%
17%
32%
SJVN Ltd · SJVN
69%
69%
44%
82%
81%
69%
35%
72%
80%
68%
47%
74%
81%
69%
48%
77%
83%
71%
61%
—
Tata Power Company Ltd · TATAPOWER
14%
15%
16%
12%
13%
16%
15%
18%
18%
16%
15%
18%
21%
20%
19%
20%
21%
22%
17%
—
Torrent Power Ltd · TORNTPOWER
26%
25%
26%
16%
21%
22%
18%
16%
18%
16%
17%
21%
17%
17%
18%
19%
19%
21%
18%
—
Margin change · reported quarter history
Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Adani Green Energy Ltd · ADANIGREEN
−22.9 pp
−6.5 pp
+3.0 pp
−19.2 pp
−4.8 pp
−31.2 pp
+20.5 pp
+38.0 pp
+22.3 pp
+28.7 pp
−14.0 pp
−11.0 pp
−3.0 pp
+8.0 pp
+5.0 pp
−5.0 pp
+13.0 pp
+6.0 pp
+4.0 pp
+10.0 pp
Adani Power Ltd · ADANIPOWER
−29.7 pp
+9.5 pp
+24.0 pp
+16.6 pp
−9.0 pp
−14.0 pp
−30.4 pp
−9.7 pp
+26.5 pp
+17.0 pp
+17.0 pp
+9.0 pp
0.0 pp
+1.0 pp
−2.0 pp
−1.0 pp
−2.0 pp
−3.0 pp
−1.0 pp
+2.0 pp
CESC Ltd · CESC
−0.3 pp
−10.7 pp
−6.0 pp
−7.9 pp
−13.6 pp
−3.3 pp
−6.1 pp
+1.2 pp
+2.5 pp
−5.0 pp
−5.0 pp
−9.0 pp
+4.0 pp
+6.0 pp
+9.0 pp
+9.0 pp
+1.0 pp
+2.0 pp
−3.0 pp
—
Jaiprakash Power Ventures Ltd · JPPOWER
−20.1 pp
−6.8 pp
−9.2 pp
+6.5 pp
−5.7 pp
−25.2 pp
−3.5 pp
−3.5 pp
+11.5 pp
+25.2 pp
+32.0 pp
+14.0 pp
+2.0 pp
−1.0 pp
−19.0 pp
−7.0 pp
+1.0 pp
−10.0 pp
−20.0 pp
+5.0 pp
JSW Energy Ltd · JSWENERGY
−3.1 pp
+4.6 pp
+6.1 pp
−6.7 pp
−7.3 pp
−14.1 pp
−18.4 pp
+8.2 pp
+20.7 pp
+16.0 pp
+14.0 pp
+7.0 pp
−6.0 pp
−7.0 pp
−4.0 pp
+5.0 pp
+6.0 pp
+13.0 pp
+12.0 pp
+1.0 pp
NHPC Ltd · NHPC
+0.9 pp
−48.1 pp
−4.2 pp
−6.9 pp
+0.8 pp
+49.7 pp
+12.9 pp
+2.0 pp
−5.0 pp
−9.0 pp
+17.0 pp
+5.0 pp
−1.0 pp
+7.0 pp
−10.0 pp
−4.0 pp
+1.0 pp
−34.0 pp
−28.0 pp
—
NLC India Ltd · NLCINDIA
+14.4 pp
+11.6 pp
+4.9 pp
+4.3 pp
−5.4 pp
−41.1 pp
−10.6 pp
−0.5 pp
−5.8 pp
+37.0 pp
−15.0 pp
−4.0 pp
0.0 pp
−6.0 pp
+13.0 pp
−8.0 pp
+6.0 pp
+7.0 pp
+13.0 pp
—
NTPC Green Energy Ltd · NTPCGREEN
—
—
—
—
—
—
—
—
—
—
—
—
−7.7 pp
−5.0 pp
+4.0 pp
0.0 pp
+3.0 pp
−2.0 pp
−5.0 pp
0.0 pp
NTPC Ltd · NTPC
−3.0 pp
+1.2 pp
+6.1 pp
−4.7 pp
−4.2 pp
−4.0 pp
−3.8 pp
+4.0 pp
+4.5 pp
−2.0 pp
+2.0 pp
−1.0 pp
−2.0 pp
+3.0 pp
+1.0 pp
−1.0 pp
+3.0 pp
+2.0 pp
−13.0 pp
+5.0 pp
SJVN Ltd · SJVN
−10.6 pp
+2.9 pp
−7.9 pp
+5.8 pp
+11.9 pp
+0.1 pp
−9.1 pp
−10.5 pp
−1.1 pp
−1.0 pp
+12.0 pp
+2.0 pp
+1.0 pp
+1.0 pp
+1.0 pp
+3.0 pp
+2.0 pp
+2.0 pp
+13.0 pp
—
Tata Power Company Ltd · TATAPOWER
−10.2 pp
−7.9 pp
+1.9 pp
−9.6 pp
−1.0 pp
+1.0 pp
−0.6 pp
+6.4 pp
+5.5 pp
0.0 pp
0.0 pp
0.0 pp
+3.0 pp
+4.0 pp
+4.0 pp
+2.0 pp
0.0 pp
+2.0 pp
−2.0 pp
—
Torrent Power Ltd · TORNTPOWER
+3.0 pp
−4.7 pp
−3.2 pp
−7.2 pp
−4.7 pp
−2.8 pp
−8.5 pp
−0.3 pp
−3.0 pp
−6.0 pp
−1.0 pp
+5.0 pp
−1.0 pp
+1.0 pp
+1.0 pp
−2.0 pp
+2.0 pp
+4.0 pp
0.0 pp
—
03 · compare level, then change
Profit Scale & Acceleration
NTPC Ltd has the highest Net profit among the 20 Power - Generation/Distribution companies compared here, at ₹28,333 crore. Adani Power Ltd is next at ₹14,532 crore. Gujarat Industries Power Co Ltd has the highest Profit growth at 89.6%, so level and change sit with different companies. 20 of 20 companies report a comparable reading, the latest through Jun 2026.
What the numbers say: NTPC Ltd leads with ₹28,333 crore of TTM profit, 95% above Adani Power Ltd. Gujarat Industries Power Co Ltd shows 89.6% growth from a ₹402 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.
LeaderNTPC Ltd · ₹28,333 crore
Gap95% versus #2 · Adani Power Ltd
Persistence6/8 recent comparable periods
Coverage20/20 companies · 329 observations
Investor read: NTPC 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.
Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1NTPC Ltd NTPC₹28.3K Cr
2Adani Power Ltd ADANIPOWER₹14.5K Cr
3Tata Power Company Ltd TATAPOWER₹5.1K Cr
4NHPC Ltd NHPC₹4.2K Cr
5NLC India Ltd NLCINDIA₹3.8K Cr
Profit growthfastest growers
1Gujarat Industries Power Co Ltd GIPCL90%
2KPI Green Energy Ltd KPIGREEN57%
3NLC India Ltd NLCINDIA39%
4NHPC Ltd NHPC24%
5Adani Power Ltd ADANIPOWER20%
Net profit · company comparison
20/20 level · 16/20 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Net profit | Profit growth | Reported |
|---|---|---|---|
| NTPC Ltd NTPC | ₹6.9K Cr | 13% | Jun 2026 |
| Adani Power Ltd ADANIPOWER | ₹4.9K Cr | 47% | Jun 2026 |
| NHPC Ltd NHPC | ₹1.5K Cr | 68% | Mar 2026 |
| NLC India Ltd NLCINDIA | ₹1.5K Cr | 216% | Mar 2026 |
| Tata Power Company Ltd TATAPOWER | ₹1.4K Cr | 8.4% | Mar 2026 |
| Adani Green Energy Ltd ADANIGREEN | ₹983 Cr | 19% | Jun 2026 |
| JSW Energy Ltd JSWENERGY | ₹533 Cr | -36% | Jun 2026 |
| Jaiprakash Power Ventures Ltd JPPOWER | ₹469 Cr | 69% | Jun 2026 |
| CESC Ltd CESC | ₹459 Cr | 19% | Mar 2026 |
| Torrent Power Ltd TORNTPOWER | ₹331 Cr | -69% | Mar 2026 |
| Gujarat Industries Power Co Ltd GIPCL | ₹327 Cr | 367% | Mar 2026 |
| NTPC Green Energy Ltd NTPCGREEN | ₹305 Cr | 39% | Jun 2026 |
| KPI Green Energy Ltd KPIGREEN | ₹155 Cr | 49% | Mar 2026 |
| BF Utilities Ltd BFUTILITIE | ₹103 Cr | 23% | Dec 2025 |
| RattanIndia Power Ltd RTNPOWER | ₹46 Cr | -66% | Jun 2026 |
| Orient Green Power Company Ltd GREENPOWER⚠ unverified | ₹24 Cr | -17% | Jun 2026 |
| India Power Corporation Ltd DPSCLTD⚠ unverified | ₹4 Cr | -30% | Mar 2026 |
| Mac Charles (India) Ltd 507836 | ₹-15 Cr | — | Mar 2026 |
| SJVN Ltd SJVN | ₹-118 Cr | 50% | Mar 2026 |
| Reliance Power Ltd RPOWER | ₹-494 Cr | -492% | Mar 2026 |
Full 20-quarter history · every available company
Net profit · reported quarter history
Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Adani Green Energy Ltd · ADANIGREEN
—
—
—
—
—
₹103 Cr
₹507 Cr
₹323 Cr
₹371 Cr
₹256 Cr
₹310 Cr
₹629 Cr
₹515 Cr
₹474 Cr
₹383 Cr
₹824 Cr
₹644 Cr
₹5 Cr
₹514 Cr
₹983 Cr
Adani Power Ltd · ADANIPOWER
₹-231 Cr
₹218 Cr
₹4.6K Cr
₹4.8K Cr
₹696 Cr
₹9 Cr
₹5.2K Cr
₹8.8K Cr
₹6.6K Cr
₹2.7K Cr
₹2.7K Cr
₹3.9K Cr
₹3.3K Cr
₹2.9K Cr
₹2.6K Cr
₹3.3K Cr
₹2.9K Cr
₹2.5K Cr
₹4.3K Cr
₹4.9K Cr
CESC Ltd · CESC
—
—
—
—
—
₹336 Cr
₹445 Cr
₹368 Cr
₹363 Cr
₹301 Cr
₹415 Cr
₹388 Cr
₹373 Cr
₹282 Cr
₹385 Cr
₹404 Cr
₹448 Cr
₹304 Cr
₹459 Cr
—
Jaiprakash Power Ventures Ltd · JPPOWER
₹-1 Cr
₹107 Cr
₹-2 Cr
₹242 Cr
₹75 Cr
₹-218 Cr
₹-44 Cr
₹192 Cr
₹69 Cr
₹173 Cr
₹589 Cr
₹349 Cr
₹183 Cr
₹127 Cr
₹156 Cr
₹278 Cr
₹182 Cr
₹4 Cr
₹-13 Cr
₹469 Cr
JSW Energy Ltd · JSWENERGY
—
—
—
—
—
₹187 Cr
₹282 Cr
₹290 Cr
₹857 Cr
₹232 Cr
₹345 Cr
₹534 Cr
₹877 Cr
₹157 Cr
₹415 Cr
₹836 Cr
₹824 Cr
₹529 Cr
₹574 Cr
₹533 Cr
NHPC Ltd · NHPC
₹1.4K Cr
₹889 Cr
₹516 Cr
₹1.1K Cr
₹1.7K Cr
₹776 Cr
₹745 Cr
₹1.1K Cr
₹1.7K Cr
₹623 Cr
₹605 Cr
₹1.1K Cr
₹1.1K Cr
₹330 Cr
₹920 Cr
₹1.1K Cr
₹1.2K Cr
₹321 Cr
₹1.5K Cr
—
NLC India Ltd · NLCINDIA
—
—
—
—
—
₹-396 Cr
₹837 Cr
₹414 Cr
₹1.1K Cr
₹254 Cr
₹114 Cr
₹567 Cr
₹982 Cr
₹696 Cr
₹468 Cr
₹839 Cr
₹725 Cr
₹724 Cr
₹1.5K Cr
—
NTPC Green Energy Ltd · NTPCGREEN
—
—
—
—
—
—
—
₹104 Cr
₹104 Cr
₹56 Cr
₹81 Cr
₹139 Cr
₹37 Cr
₹66 Cr
₹233 Cr
₹220 Cr
₹86 Cr
₹17 Cr
₹197 Cr
₹305 Cr
NTPC Ltd · NTPC
—
—
—
—
—
₹4.9K Cr
₹4.9K Cr
₹4.9K Cr
₹4.7K Cr
₹5.2K Cr
₹6.5K Cr
₹5.5K Cr
₹5.4K Cr
₹5.2K Cr
₹7.9K Cr
₹6.1K Cr
₹5.2K Cr
₹5.6K Cr
₹10.6K Cr
₹6.9K Cr
SJVN Ltd · SJVN
₹405 Cr
₹235 Cr
₹7 Cr
₹609 Cr
₹445 Cr
₹287 Cr
₹17 Cr
₹272 Cr
₹440 Cr
₹139 Cr
₹61 Cr
₹357 Cr
₹440 Cr
₹149 Cr
₹-128 Cr
₹228 Cr
₹308 Cr
₹224 Cr
₹-118 Cr
—
Tata Power Company Ltd · TATAPOWER
₹506 Cr
₹552 Cr
—
₹884 Cr
₹935 Cr
₹1.1K Cr
₹939 Cr
₹1.1K Cr
₹1.0K Cr
₹1.1K Cr
₹1.0K Cr
₹1.2K Cr
₹1.1K Cr
₹1.2K Cr
₹1.3K Cr
₹1.3K Cr
₹1.2K Cr
₹1.2K Cr
₹1.4K Cr
—
Torrent Power Ltd · TORNTPOWER
₹367 Cr
₹368 Cr
₹-488 Cr
₹502 Cr
₹493 Cr
₹695 Cr
₹484 Cr
₹532 Cr
₹543 Cr
₹374 Cr
₹447 Cr
₹996 Cr
₹496 Cr
₹489 Cr
₹1.1K Cr
₹742 Cr
₹742 Cr
₹655 Cr
₹331 Cr
—
Profit growth · reported quarter history
Showing the 12 largest of 19 companies with a series here. The remaining 7 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Adani Green Energy Ltd · ADANIGREEN
—
—
—
—
—
—
—
—
—
149%
-39%
95%
39%
85%
24%
31%
25%
-99%
34%
19%
Adani Power Ltd · ADANIPOWER
—
—
—
1,619%
—
-96%
13%
83%
847%
—
-48%
-55%
-50%
7.4%
-5.0%
-16%
-12%
-15%
64%
47%
CESC Ltd · CESC
—
—
—
—
—
—
—
—
—
-10%
-6.7%
5.4%
2.8%
-6.3%
-7.2%
4.1%
20%
7.8%
19%
—
Jaiprakash Power Ventures Ltd · JPPOWER
—
—
—
—
—
-304%
—
-21%
-8.0%
—
—
82%
165%
-27%
-74%
-20%
-0.6%
-97%
-108%
69%
JSW Energy Ltd · JSWENERGY
—
—
—
—
—
—
—
—
—
24%
22%
84%
2.3%
-32%
20%
57%
-6.0%
237%
38%
-36%
NHPC Ltd · NHPC
—
—
—
7.2%
22%
-13%
44%
3.9%
0.4%
-20%
-19%
0.6%
-37%
-47%
52%
2.6%
15%
-2.7%
68%
—
NLC India Ltd · NLCINDIA
—
—
—
—
—
—
—
—
—
—
-86%
37%
-9.6%
174%
311%
48%
-26%
4.0%
216%
—
NTPC Green Energy Ltd · NTPCGREEN
—
—
—
—
—
—
—
—
—
—
—
34%
-64%
18%
188%
58%
132%
-74%
-15%
39%
NTPC Ltd · NTPC
—
—
—
—
—
—
—
—
—
7.3%
33%
12%
14%
-0.8%
22%
11%
-2.9%
8.3%
34%
13%
SJVN Ltd · SJVN
—
—
—
78%
9.9%
22%
143%
-55%
-1.1%
-52%
259%
31%
0.0%
7.2%
-310%
-36%
-30%
50%
—
—
Tata Power Company Ltd · TATAPOWER
—
—
—
90%
85%
91%
—
29%
8.8%
2.3%
11%
4.2%
7.5%
10%
25%
6.1%
14%
0.5%
8.4%
—
Torrent Power Ltd · TORNTPOWER
—
—
—
143%
34%
89%
—
6.0%
10%
-46%
-7.6%
87%
-8.7%
31%
141%
-26%
50%
34%
-69%
—
04 · compare level, then change
Capacity Spending & Returns On It
NTPC Green Energy Ltd has the highest CAPEX among the 20 Power - Generation/Distribution companies compared here, at ₹1,652 crore. The same company also holds the highest CAPEX intensity, at 327.8%. 1 of 20 companies report a comparable reading, the latest through Jun 2026. Its CAPEX series carries 4 reported observations across the 20-quarter window.
What the numbers say: NTPC Green Energy Ltd reports ₹1,652 crore of CAPEX; NTPC Green Energy Ltd has the highest covered intensity at 327.8%. Coverage is only 1 of 20 companies and 4 reported observations, so this is partial evidence—not a complete sector rank.
LeaderNTPC Green Energy Ltd · ₹1,652 crore
GapNot enough peers
Persistence4/4 recent comparable periods
Coverage1/20 companies · 4 observations
Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.
This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.
CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.
CAPEXlargest spenders
1NTPC Green Energy Ltd NTPCGREEN₹1.7K Cr
CAPEX intensityhighest reinvestment intensity
1NTPC Green Energy Ltd NTPCGREEN328%
Capital expenditure · company comparison
1/20 level · 1/20 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
Withheld from this chart: NTPC Ltd (NTPC) — its two data sources disagree by up to 4.9% on reported income across 14 comparable periods, so its derived ratios are withheld; Adani Green Energy Ltd (ADANIGREEN) — its two data sources disagree by up to 910% on reported income across 14 comparable periods, so its derived ratios are withheld; JSW Energy Ltd (JSWENERGY) — its two data sources disagree by up to 35% on reported income across 14 comparable periods, so its derived ratios are withheld; NLC India Ltd (NLCINDIA) — its two data sources disagree by up to 8.2% on reported income across 14 comparable periods, so its derived ratios are withheld; CESC Ltd (CESC) — its two data sources disagree by up to 6.5% on reported income across 14 comparable periods, so its derived ratios are withheld; KPI Green Energy Ltd (KPIGREEN) — its two data sources disagree by up to 6.3% on reported income across 14 comparable periods, so its derived ratios are withheld; BF Utilities Ltd (BFUTILITIE) — its two data sources disagree by up to 59% on reported income across 13 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.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | CAPEX | CAPEX intensity | Reported |
|---|---|---|---|
| NTPC Green Energy Ltd NTPCGREEN | ₹1.7K Cr | 328% | Jun 2026 |
Full 20-quarter history · every available company
CAPEX · reported quarter history
NTPC Green Energy Ltd · NTPCGREEN
—
—
—
—
—
—
—
₹432 Cr
₹432 Cr
—
—
₹1.9K Cr
₹1.7K Cr
—
—
—
—
—
—
—
CAPEX intensity · reported quarter history
NTPC Green Energy Ltd · NTPCGREEN
—
—
—
—
—
—
—
86%
86%
—
—
332%
328%
—
—
—
—
—
—
—
Annual capital allocation · 10-year view
20/20 capacity base · 20/20 OCF · 20/20 CAPEX · 20/20 FCF
Capacity base is net fixed assets plus capital work in progress, straight off the reported balance sheet. It is not cash spent, so it answers a narrower question than CAPEX — but it is reported for companies whose cash-flow CAPEX is not published, which is why it leads here. Missing years remain blank; annual values are never relabelled as quarters.
Full annual capacity base, operating cash flow, CAPEX and free cash flow history
Capacity base · net fixed assets + CWIP · fiscal-year history
Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Adani Green Energy Ltd · ADANIGREEN
₹4.6K Cr
₹10.8K Cr
₹11.1K Cr
₹13.8K Cr
₹20.9K Cr
₹48.4K Cr
₹53.6K Cr
₹68.7K Cr
₹94.4K Cr
₹1.2 L Cr
Adani Power Ltd · ADANIPOWER
₹54.5K Cr
₹52.3K Cr
₹50.8K Cr
₹58.2K Cr
₹59.3K Cr
₹63.5K Cr
₹64.3K Cr
₹63.9K Cr
₹81.4K Cr
₹1.0 L Cr
CESC Ltd · CESC
₹27.0K Cr
₹24.1K Cr
₹23.8K Cr
₹24.9K Cr
₹24.3K Cr
₹23.3K Cr
₹23.0K Cr
₹22.3K Cr
₹23.2K Cr
₹25.7K Cr
Jaiprakash Power Ventures Ltd · JPPOWER
₹32.3K Cr
₹31.7K Cr
₹31.2K Cr
₹15.7K Cr
₹14.7K Cr
₹14.2K Cr
₹13.8K Cr
₹13.2K Cr
₹12.9K Cr
₹12.6K Cr
JSW Energy Ltd · JSWENERGY
₹20.0K Cr
₹19.2K Cr
₹18.2K Cr
₹17.1K Cr
₹16.1K Cr
₹16.9K Cr
₹29.8K Cr
₹39.2K Cr
₹64.4K Cr
₹92.0K Cr
NHPC Ltd · NHPC
₹39.8K Cr
₹40.3K Cr
₹40.0K Cr
₹41.6K Cr
₹41.2K Cr
₹44.3K Cr
₹53.5K Cr
₹61.3K Cr
₹72.8K Cr
₹85.2K Cr
NLC India Ltd · NLCINDIA
₹21.2K Cr
₹25.2K Cr
₹31.5K Cr
₹36.8K Cr
₹38.0K Cr
₹37.9K Cr
₹38.7K Cr
₹41.1K Cr
₹46.0K Cr
₹50.9K Cr
NTPC Green Energy Ltd · NTPCGREEN
—
—
—
—
—
—
₹16.5K Cr
₹24.7K Cr
₹35.8K Cr
₹53.4K Cr
NTPC Ltd · NTPC
₹1.9 L Cr
₹2.1 L Cr
₹2.7 L Cr
₹2.9 L Cr
₹3.0 L Cr
₹3.2 L Cr
₹3.3 L Cr
₹3.5 L Cr
₹3.7 L Cr
₹4.0 L Cr
SJVN Ltd · SJVN
₹9.1K Cr
₹9.0K Cr
₹9.4K Cr
₹10.3K Cr
₹12.3K Cr
₹16.2K Cr
₹24.2K Cr
₹30.9K Cr
₹38.0K Cr
₹42.6K Cr
Tata Power Company Ltd · TATAPOWER
₹48.8K Cr
₹46.3K Cr
₹46.9K Cr
₹49.3K Cr
₹55.4K Cr
₹62.0K Cr
₹67.1K Cr
₹78.8K Cr
₹91.1K Cr
₹1.0 L Cr
Torrent Power Ltd · TORNTPOWER
₹17.1K Cr
₹18.3K Cr
₹18.4K Cr
₹18.1K Cr
₹18.2K Cr
₹18.4K Cr
₹21.9K Cr
₹24.3K Cr
₹26.5K Cr
₹32.6K Cr
Operating cash flow · fiscal-year history
Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Adani Green Energy Ltd · ADANIGREEN
₹28 Cr
₹649 Cr
₹1.6K Cr
₹2.0K Cr
₹1.6K Cr
₹3.1K Cr
₹7.3K Cr
₹7.7K Cr
₹8.4K Cr
₹10.1K Cr
Adani Power Ltd · ADANIPOWER
₹4.7K Cr
₹5.1K Cr
₹5.6K Cr
₹5.6K Cr
₹7.0K Cr
₹10.2K Cr
₹8.4K Cr
₹14.2K Cr
₹21.5K Cr
₹20.5K Cr
CESC Ltd · CESC
₹2.7K Cr
₹2.5K Cr
₹2.3K Cr
₹3.4K Cr
₹2.8K Cr
₹2.5K Cr
₹2.0K Cr
₹2.4K Cr
₹2.6K Cr
₹4.1K Cr
Jaiprakash Power Ventures Ltd · JPPOWER
₹1.4K Cr
₹1.8K Cr
₹1.2K Cr
₹1.0K Cr
₹813 Cr
₹845 Cr
₹767 Cr
₹1.9K Cr
₹1.7K Cr
₹1.3K Cr
JSW Energy Ltd · JSWENERGY
₹3.9K Cr
₹3.9K Cr
₹2.5K Cr
₹2.1K Cr
₹3.7K Cr
₹3.0K Cr
₹2.1K Cr
₹6.2K Cr
₹3.8K Cr
₹9.9K Cr
NHPC Ltd · NHPC
₹8.3K Cr
₹4.7K Cr
₹3.8K Cr
₹3.0K Cr
₹5.1K Cr
₹4.6K Cr
₹4.7K Cr
₹7.3K Cr
₹5.0K Cr
₹3.3K Cr
NLC India Ltd · NLCINDIA
₹1.2K Cr
₹4.5K Cr
₹1.6K Cr
₹1.6K Cr
₹4.4K Cr
₹7.7K Cr
₹4.2K Cr
₹5.5K Cr
₹9.0K Cr
₹5.2K Cr
NTPC Green Energy Ltd · NTPCGREEN
—
—
—
—
—
—
₹17 Cr
₹1.6K Cr
₹2.0K Cr
₹2.4K Cr
NTPC Ltd · NTPC
₹20.2K Cr
₹19.7K Cr
₹18.7K Cr
₹24.6K Cr
₹32.4K Cr
₹41.8K Cr
₹47.2K Cr
₹40.1K Cr
₹50.4K Cr
₹50.9K Cr
SJVN Ltd · SJVN
₹2.4K Cr
₹1.6K Cr
₹1.0K Cr
₹1.7K Cr
₹2.0K Cr
₹2.1K Cr
₹1.6K Cr
₹1.3K Cr
₹2.5K Cr
₹1.9K Cr
Tata Power Company Ltd · TATAPOWER
₹7.0K Cr
₹6.4K Cr
₹4.6K Cr
₹7.4K Cr
₹8.3K Cr
₹6.7K Cr
₹7.2K Cr
₹12.5K Cr
₹12.7K Cr
₹6.0K Cr
Torrent Power Ltd · TORNTPOWER
₹2.4K Cr
₹2.8K Cr
₹2.4K Cr
₹3.6K Cr
₹3.0K Cr
₹3.2K Cr
₹3.5K Cr
₹4.3K Cr
₹4.8K Cr
₹5.5K Cr
CAPEX · reported cash flow · fiscal-year history
Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Adani Green Energy Ltd · ADANIGREEN
₹198 Cr
₹6.8K Cr
₹1.3K Cr
₹3.0K Cr
₹7.6K Cr
₹28.3K Cr
₹6.6K Cr
₹17.0K Cr
₹28.2K Cr
₹30.1K Cr
Adani Power Ltd · ADANIPOWER
₹159 Cr
₹440 Cr
₹1.3K Cr
₹10.4K Cr
₹4.3K Cr
₹7.4K Cr
₹4.1K Cr
₹3.5K Cr
₹21.8K Cr
₹27.6K Cr
CESC Ltd · CESC
₹728 Cr
₹-2.2K Cr
₹503 Cr
₹1.9K Cr
₹291 Cr
₹-128 Cr
₹526 Cr
₹557 Cr
₹2.1K Cr
₹3.8K Cr
Jaiprakash Power Ventures Ltd · JPPOWER
₹1.5K Cr
₹188 Cr
₹58 Cr
₹-15.0K Cr
₹-565 Cr
₹-4 Cr
₹70 Cr
₹-92 Cr
₹168 Cr
₹85 Cr
JSW Energy Ltd · JSWENERGY
₹372 Cr
₹115 Cr
₹218 Cr
₹617 Cr
₹173 Cr
₹1.9K Cr
₹14.1K Cr
₹11.1K Cr
₹26.9K Cr
₹30.7K Cr
NHPC Ltd · NHPC
₹1.9K Cr
₹1.9K Cr
₹1.4K Cr
₹3.2K Cr
₹870 Cr
₹4.4K Cr
₹10.4K Cr
₹9.0K Cr
₹12.7K Cr
₹14.4K Cr
NLC India Ltd · NLCINDIA
₹3.4K Cr
₹5.2K Cr
₹7.5K Cr
₹6.6K Cr
₹2.9K Cr
₹1.8K Cr
₹2.6K Cr
₹4.2K Cr
₹6.8K Cr
₹7.3K Cr
NTPC Green Energy Ltd · NTPCGREEN
—
—
—
—
—
—
—
₹8.8K Cr
₹11.8K Cr
₹18.7K Cr
NTPC Ltd · NTPC
₹29.5K Cr
₹27.7K Cr
₹66.4K Cr
₹27.3K Cr
₹26.9K Cr
₹29.1K Cr
₹28.3K Cr
₹33.2K Cr
₹43.1K Cr
₹51.0K Cr
SJVN Ltd · SJVN
₹486 Cr
₹310 Cr
₹804 Cr
₹1.3K Cr
₹2.4K Cr
₹4.3K Cr
₹8.3K Cr
₹7.3K Cr
₹7.8K Cr
₹5.6K Cr
Tata Power Company Ltd · TATAPOWER
₹13.0K Cr
₹-118 Cr
₹3.0K Cr
₹5.0K Cr
₹8.9K Cr
₹9.7K Cr
₹8.5K Cr
₹15.4K Cr
₹16.4K Cr
₹15.6K Cr
Torrent Power Ltd · TORNTPOWER
₹2.8K Cr
₹2.3K Cr
₹1.3K Cr
₹1.1K Cr
₹1.3K Cr
₹1.6K Cr
₹4.8K Cr
₹3.8K Cr
₹3.8K Cr
₹7.7K Cr
Free cash flow · fiscal-year history
Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Adani Green Energy Ltd · ADANIGREEN
₹-170 Cr
₹-6.1K Cr
₹277 Cr
₹-1.1K Cr
₹-6.0K Cr
₹-25.3K Cr
₹689 Cr
₹-9.3K Cr
₹-19.8K Cr
₹-20.0K Cr
Adani Power Ltd · ADANIPOWER
₹4.6K Cr
₹4.7K Cr
₹4.3K Cr
₹-4.8K Cr
₹2.7K Cr
₹2.9K Cr
₹4.3K Cr
₹10.6K Cr
₹-268 Cr
₹-7.1K Cr
CESC Ltd · CESC
₹1.9K Cr
₹4.7K Cr
₹1.8K Cr
₹1.5K Cr
₹2.5K Cr
₹2.6K Cr
₹1.5K Cr
₹1.8K Cr
₹490 Cr
₹278 Cr
Jaiprakash Power Ventures Ltd · JPPOWER
₹-84 Cr
₹1.6K Cr
₹1.1K Cr
₹16.0K Cr
₹1.4K Cr
₹849 Cr
₹697 Cr
₹2.0K Cr
₹1.5K Cr
₹1.2K Cr
JSW Energy Ltd · JSWENERGY
₹3.5K Cr
₹3.8K Cr
₹2.3K Cr
₹1.5K Cr
₹3.5K Cr
₹1.0K Cr
₹-12.0K Cr
₹-4.8K Cr
₹-23.0K Cr
₹-20.8K Cr
NHPC Ltd · NHPC
₹6.4K Cr
₹2.8K Cr
₹2.4K Cr
₹-189 Cr
₹4.2K Cr
₹213 Cr
₹-5.7K Cr
₹-1.7K Cr
₹-7.7K Cr
₹-11.2K Cr
NLC India Ltd · NLCINDIA
₹-2.2K Cr
₹-645 Cr
₹-5.9K Cr
₹-4.9K Cr
₹1.5K Cr
₹6.0K Cr
₹1.6K Cr
₹1.3K Cr
₹2.2K Cr
₹-2.1K Cr
NTPC Green Energy Ltd · NTPCGREEN
—
—
—
—
—
—
—
₹-7.2K Cr
₹-9.8K Cr
₹-16.3K Cr
NTPC Ltd · NTPC
₹-9.3K Cr
₹-8.0K Cr
₹-47.7K Cr
₹-2.7K Cr
₹5.6K Cr
₹12.7K Cr
₹18.8K Cr
₹6.9K Cr
₹7.3K Cr
₹-85 Cr
SJVN Ltd · SJVN
₹1.9K Cr
₹1.3K Cr
₹214 Cr
₹459 Cr
₹-399 Cr
₹-2.2K Cr
₹-6.7K Cr
₹-6.0K Cr
₹-5.3K Cr
₹-3.8K Cr
Tata Power Company Ltd · TATAPOWER
₹-6.0K Cr
₹6.5K Cr
₹1.6K Cr
₹2.3K Cr
₹-571 Cr
₹-3.0K Cr
₹-1.4K Cr
₹-2.9K Cr
₹-3.7K Cr
₹-9.7K Cr
Torrent Power Ltd · TORNTPOWER
₹-434 Cr
₹504 Cr
₹1.1K Cr
₹2.5K Cr
₹1.7K Cr
₹1.6K Cr
₹-1.3K Cr
₹500 Cr
₹1.0K Cr
₹-2.2K Cr
05 · compare level, then change
Debt Load & Balance-Sheet Headroom
India Power Corporation Ltd has the lowest Gross debt among the 20 Power - Generation/Distribution companies compared here, at ₹127 crore. Orient Green Power Company Ltd is next at ₹524 crore. The same company also holds the lowest Net debt, at ₹96 crore. 20 of 20 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: India Power Corporation Ltd has the clearest covered balance-sheet capacity with ₹96 crore and gross debt of ₹127 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.
LeaderIndia Power Corporation Ltd · ₹127 crore
Gap75.8% versus #2 · Orient Green Power Company Ltd
Persistence0/6 recent comparable periods
Coverage20/20 companies · 261 observations
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.
Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.
Gross debtlowest gross debt
1India Power Corporation Ltd DPSCLTD⚠ unverified₹127 Cr
2Orient Green Power Company Ltd GREENPOWER⚠ unverified₹524 Cr
3BF Utilities Ltd BFUTILITIE · older report₹932 Cr
4Mac Charles (India) Ltd 507836₹1.5K Cr
5Jaiprakash Power Ventures Ltd JPPOWER₹3.4K Cr
Net debtlowest net debt
1India Power Corporation Ltd DPSCLTD⚠ unverified₹96 Cr
2Orient Green Power Company Ltd GREENPOWER⚠ unverified₹459 Cr
3Jaiprakash Power Ventures Ltd JPPOWER₹2.6K Cr
4Gujarat Industries Power Co Ltd GIPCL₹3.3K Cr
5RattanIndia Power Ltd RTNPOWER₹3.6K Cr
Debt and balance-sheet capacity · company comparison
20/20 level · 12/20 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Gross debt | Net debt | Reported |
|---|---|---|---|
| NTPC Ltd NTPC | ₹2.7 L Cr | — | Jun 2026 |
| Adani Green Energy Ltd ADANIGREEN | ₹1.0 L Cr | — | Jun 2026 |
| JSW Energy Ltd JSWENERGY | ₹76.9K Cr | — | Jun 2026 |
| Tata Power Company Ltd TATAPOWER | ₹76.1K Cr | ₹75.5K Cr | Mar 2026 |
| Adani Power Ltd ADANIPOWER | ₹54.7K Cr | ₹53.7K Cr | Jun 2026 |
| NHPC Ltd NHPC | ₹52.3K Cr | ₹51.1K Cr | Mar 2026 |
| SJVN Ltd SJVN | ₹32.3K Cr | ₹29.8K Cr | Mar 2026 |
| NTPC Green Energy Ltd NTPCGREEN | ₹31.7K Cr | ₹31.1K Cr | Jun 2026 |
| NLC India Ltd NLCINDIA | ₹27.9K Cr | — | Mar 2026 |
| CESC Ltd CESC | ₹21.7K Cr | — | Mar 2026 |
| Reliance Power Ltd RPOWER | ₹14.8K Cr | ₹13.1K Cr | Mar 2026 |
| Torrent Power Ltd TORNTPOWER | ₹14.0K Cr | ₹13.2K Cr | Mar 2026 |
| KPI Green Energy Ltd KPIGREEN | ₹5.2K Cr | — | Mar 2026 |
| RattanIndia Power Ltd RTNPOWER | ₹3.7K Cr | ₹3.6K Cr | Jun 2026 |
| Gujarat Industries Power Co Ltd GIPCL | ₹3.6K Cr | ₹3.3K Cr | Mar 2026 |
| Jaiprakash Power Ventures Ltd JPPOWER | ₹3.4K Cr | ₹2.6K Cr | Jun 2026 |
| Mac Charles (India) Ltd 507836 | ₹1.5K Cr | — | Mar 2026 |
| BF Utilities Ltd BFUTILITIE | ₹932 Cr | — | Dec 2025 |
| Orient Green Power Company Ltd GREENPOWER⚠ unverified | ₹524 Cr | ₹459 Cr | Jun 2026 |
| India Power Corporation Ltd DPSCLTD⚠ unverified | ₹127 Cr | ₹96 Cr | Mar 2026 |
Full 20-quarter history · every available company
Gross debt · reported quarter history
Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Adani Green Energy Ltd · ADANIGREEN
—
—
₹52.8K Cr
—
—
—
₹54.2K Cr
—
—
—
₹64.9K Cr
—
—
—
₹80.0K Cr
—
₹88.2K Cr
—
₹1.0 L Cr
—
Adani Power Ltd · ADANIPOWER
₹52.7K Cr
₹52.7K Cr
₹49.1K Cr
₹48.9K Cr
₹45.2K Cr
₹45.2K Cr
₹42.6K Cr
₹42.4K Cr
₹32.4K Cr
₹32.4K Cr
₹34.9K Cr
₹34.6K Cr
₹37.7K Cr
₹37.7K Cr
₹39.5K Cr
₹39.5K Cr
₹48.5K Cr
₹48.5K Cr
₹54.7K Cr
—
CESC Ltd · CESC
—
—
₹15.0K Cr
—
—
—
₹14.3K Cr
—
—
—
₹14.5K Cr
—
—
—
₹18.0K Cr
—
₹18.8K Cr
—
₹21.7K Cr
—
Jaiprakash Power Ventures Ltd · JPPOWER
₹5.2K Cr
₹5.2K Cr
₹5.1K Cr
₹5.1K Cr
₹4.8K Cr
₹4.8K Cr
₹4.8K Cr
₹4.8K Cr
₹4.4K Cr
₹4.4K Cr
₹4.2K Cr
₹4.2K Cr
₹4.0K Cr
₹4.0K Cr
₹3.8K Cr
₹3.8K Cr
₹3.5K Cr
₹3.5K Cr
₹3.4K Cr
₹3.4K Cr
JSW Energy Ltd · JSWENERGY
—
—
₹8.9K Cr
—
—
—
₹25.1K Cr
—
—
—
₹31.6K Cr
—
—
—
₹50.2K Cr
—
₹69.1K Cr
—
₹76.9K Cr
—
NHPC Ltd · NHPC
₹24.9K Cr
₹24.9K Cr
₹26.1K Cr
₹28.1K Cr
₹28.1K Cr
₹28.1K Cr
₹29.5K Cr
₹31.6K Cr
₹32.3K Cr
₹32.3K Cr
₹32.6K Cr
₹34.6K Cr
₹36.4K Cr
₹36.4K Cr
₹39.6K Cr
₹41.6K Cr
₹44.9K Cr
₹47.2K Cr
₹52.3K Cr
—
NLC India Ltd · NLCINDIA
—
—
₹22.1K Cr
—
—
—
₹22.3K Cr
—
—
—
₹22.4K Cr
—
—
—
₹22.4K Cr
—
₹24.4K Cr
—
₹27.9K Cr
—
NTPC Green Energy Ltd · NTPCGREEN
—
—
—
—
—
—
₹6.1K Cr
₹6.1K Cr
—
—
₹13.9K Cr
₹16.2K Cr
₹18.0K Cr
₹18.0K Cr
₹19.4K Cr
₹19.4K Cr
₹21.8K Cr
₹21.8K Cr
₹31.7K Cr
—
NTPC Ltd · NTPC
—
—
₹2.1 L Cr
—
—
—
₹2.2 L Cr
—
—
—
₹2.4 L Cr
—
—
—
₹2.5 L Cr
—
₹2.5 L Cr
—
₹2.7 L Cr
—
SJVN Ltd · SJVN
₹5.3K Cr
₹5.3K Cr
₹6.9K Cr
₹6.9K Cr
₹9.0K Cr
₹9.0K Cr
₹14.1K Cr
₹14.1K Cr
₹17.1K Cr
₹17.1K Cr
₹20.3K Cr
₹20.3K Cr
₹23.9K Cr
₹23.9K Cr
₹27.0K Cr
₹27.0K Cr
₹29.6K Cr
₹29.6K Cr
₹32.3K Cr
—
Tata Power Company Ltd · TATAPOWER
₹49.1K Cr
₹49.1K Cr
₹51.2K Cr
₹51.8K Cr
₹53.3K Cr
₹53.3K Cr
₹52.9K Cr
₹53.5K Cr
₹52.5K Cr
₹52.5K Cr
₹53.7K Cr
₹54.6K Cr
₹58.3K Cr
₹58.3K Cr
₹62.9K Cr
₹68.5K Cr
₹70.1K Cr
₹70.1K Cr
₹76.1K Cr
—
Torrent Power Ltd · TORNTPOWER
₹7.7K Cr
₹7.7K Cr
₹9.1K Cr
₹9.1K Cr
₹10.4K Cr
₹10.4K Cr
₹10.5K Cr
₹10.5K Cr
₹10.7K Cr
₹10.7K Cr
₹11.6K Cr
₹11.6K Cr
₹11.6K Cr
₹11.6K Cr
₹8.8K Cr
₹8.8K Cr
₹10.4K Cr
₹10.4K Cr
₹14.0K Cr
—
Net debt · reported quarter history
Adani Power Ltd · ADANIPOWER
₹51.1K Cr
—
₹48.1K Cr
—
₹43.2K Cr
—
₹42.0K Cr
—
₹29.6K Cr
—
₹33.5K Cr
—
₹31.6K Cr
—
₹39.2K Cr
—
₹38.2K Cr
—
₹53.7K Cr
—
Gujarat Industries Power Co Ltd · GIPCL
₹334 Cr
—
₹247 Cr
—
₹89 Cr
—
₹39 Cr
—
₹-31 Cr
—
₹5 Cr
—
₹167 Cr
—
₹1.6K Cr
—
₹2.6K Cr
—
₹3.3K Cr
—
India Power Corporation Ltd · DPSCLTD⚠ unverified
—
—
₹326 Cr
—
—
—
₹276 Cr
—
₹195 Cr
—
₹212 Cr
—
—
—
₹152 Cr
—
—
—
₹96 Cr
—
Jaiprakash Power Ventures Ltd · JPPOWER
₹4.9K Cr
—
₹5.0K Cr
—
₹4.4K Cr
—
₹4.7K Cr
—
₹3.9K Cr
—
₹4.2K Cr
—
₹2.7K Cr
—
₹2.9K Cr
—
₹1.4K Cr
—
₹2.6K Cr
—
NHPC Ltd · NHPC
₹22.2K Cr
—
₹26.8K Cr
—
₹26.1K Cr
—
₹30.5K Cr
—
₹29.0K Cr
—
₹33.2K Cr
—
₹33.6K Cr
—
₹40.8K Cr
—
₹44.2K Cr
—
₹51.1K Cr
—
NTPC Green Energy Ltd · NTPCGREEN
—
—
—
—
—
—
—
—
—
—
₹13.7K Cr
₹16.2K Cr
₹16.8K Cr
—
₹19.4K Cr
—
₹21.8K Cr
—
₹31.1K Cr
—
Orient Green Power Company Ltd · GREENPOWER⚠ unverified
₹1.3K Cr
—
₹1.2K Cr
—
₹1.2K Cr
—
₹1.1K Cr
—
₹743 Cr
—
₹684 Cr
—
₹415 Cr
—
₹523 Cr
—
₹332 Cr
—
₹459 Cr
—
RattanIndia Power Ltd · RTNPOWER
₹11.7K Cr
—
₹11.4K Cr
—
₹11.0K Cr
—
₹10.8K Cr
—
₹10.3K Cr
—
₹3.4K Cr
—
₹3.0K Cr
—
₹3.4K Cr
—
₹3.2K Cr
—
₹3.6K Cr
—
Reliance Power Ltd · RPOWER
₹23.4K Cr
—
₹22.9K Cr
—
₹22.1K Cr
—
₹21.0K Cr
—
₹19.9K Cr
—
₹18.3K Cr
—
₹14.1K Cr
—
₹14.7K Cr
—
₹13.5K Cr
—
₹13.1K Cr
—
SJVN Ltd · SJVN
₹1.4K Cr
—
₹6.9K Cr
—
₹7.0K Cr
—
₹13.7K Cr
—
₹13.2K Cr
—
₹20.0K Cr
—
₹19.9K Cr
—
₹26.7K Cr
—
₹26.5K Cr
—
₹29.8K Cr
—
Tata Power Company Ltd · TATAPOWER
₹44.5K Cr
—
₹48.7K Cr
—
₹47.0K Cr
—
₹49.3K Cr
—
₹42.4K Cr
—
₹56.6K Cr
—
₹49.1K Cr
—
₹63.6K Cr
—
₹60.7K Cr
—
₹75.5K Cr
—
Torrent Power Ltd · TORNTPOWER
₹7.5K Cr
—
₹8.9K Cr
—
₹10.1K Cr
—
₹10.4K Cr
—
₹10.2K Cr
—
₹11.3K Cr
—
₹11.2K Cr
—
₹8.6K Cr
—
₹10.1K Cr
—
₹13.2K Cr
—
06 · compare level, then change
Return On Capital Employed
BF Utilities Ltd has the highest ROCE among the 20 Power - Generation/Distribution companies compared here, at 29.9%. Adani Power Ltd is next at 17.2%. Mac Charles (India) Ltd has the highest ROCE change at +6 percentage points, so level and change sit with different companies. 20 of 20 companies report a comparable reading, the latest through Dec 2025.
What the numbers say: BF Utilities Ltd leads ROCE at 29.9%, 12.7 percentage points above Adani Power Ltd. Mac Charles (India) Ltd has the strongest latest improvement at +6 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.
LeaderBF Utilities Ltd · 29.9%
Gap73.8% versus #2 · Adani Power Ltd
PersistenceNot enough history
Coverage20/20 companies · 172 observations
Investor read: BF Utilities 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.
ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1BF Utilities Ltd BFUTILITIE · older report30%
2Adani Power Ltd ADANIPOWER17%
3KPI Green Energy Ltd KPIGREEN14%
4Torrent Power Ltd TORNTPOWER14%
5CESC Ltd CESC11%
ROCE changefastest improvers
1Mac Charles (India) Ltd 507836+6.0 pp
2BF Utilities Ltd BFUTILITIE · older report+2.0 pp
3JSW Energy Ltd JSWENERGY+2.0 pp
4SJVN Ltd SJVN+1.7 pp
5Reliance Power Ltd RPOWER+0.2 pp
Return on capital · company comparison
20/20 level · 20/20 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
Withheld from this chart: NTPC Ltd (NTPC) — its two data sources disagree by up to 4.9% on reported income across 14 comparable periods, so its derived ratios are withheld; Adani Green Energy Ltd (ADANIGREEN) — its two data sources disagree by up to 910% on reported income across 14 comparable periods, so its derived ratios are withheld; JSW Energy Ltd (JSWENERGY) — its two data sources disagree by up to 35% on reported income across 14 comparable periods, so its derived ratios are withheld; NLC India Ltd (NLCINDIA) — its two data sources disagree by up to 8.2% on reported income across 14 comparable periods, so its derived ratios are withheld; CESC Ltd (CESC) — its two data sources disagree by up to 6.5% on reported income across 14 comparable periods, so its derived ratios are withheld; KPI Green Energy Ltd (KPIGREEN) — its two data sources disagree by up to 6.3% on reported income across 14 comparable periods, so its derived ratios are withheld; BF Utilities Ltd (BFUTILITIE) — its two data sources disagree by up to 59% on reported income across 13 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.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | ROCE | ROCE change | Reported |
|---|---|---|---|
| Adani Power Ltd ADANIPOWER | 13% | −5.3 pp | Jun 2026 |
| Torrent Power Ltd TORNTPOWER | 12% | −2.2 pp | Mar 2026 |
| Orient Green Power Company Ltd GREENPOWER⚠ unverified | 7.9% | −0.7 pp | Jun 2026 |
| Jaiprakash Power Ventures Ltd JPPOWER | 6.6% | −2.6 pp | Jun 2026 |
| Tata Power Company Ltd TATAPOWER | 6.4% | −2.6 pp | Mar 2026 |
| SJVN Ltd SJVN | 5.4% | +1.7 pp | Mar 2026 |
| Reliance Power Ltd RPOWER | 4.9% | +0.2 pp | Mar 2026 |
| NHPC Ltd NHPC | 3.1% | −1.8 pp | Mar 2026 |
| Gujarat Industries Power Co Ltd GIPCL | 3.1% | −0.2 pp | Mar 2026 |
| India Power Corporation Ltd DPSCLTD⚠ unverified | 2.6% | −2.3 pp | Mar 2026 |
| NTPC Green Energy Ltd NTPCGREEN | 2.5% | −0.3 pp | Jun 2026 |
| RattanIndia Power Ltd RTNPOWER | 2.0% | −2.0 pp | Jun 2026 |
Full 20-quarter history · every available company
ROCE · reported quarter history
Adani Power Ltd · ADANIPOWER
4.8%
—
11%
—
16%
—
10%
—
12%
31%
19%
28%
18%
24%
18%
22%
15%
17%
13%
—
Gujarat Industries Power Co Ltd · GIPCL
7.2%
—
6.3%
—
5.8%
—
5.9%
—
4.7%
6.7%
4.4%
6.7%
4.6%
6.3%
3.3%
4.9%
2.8%
4.4%
3.1%
—
India Power Corporation Ltd · DPSCLTD⚠ unverified
—
—
-0.7%
—
—
—
-2.2%
—
0.1%
3.3%
0.7%
3.6%
—
3.3%
4.9%
2.3%
—
2.0%
2.6%
—
Jaiprakash Power Ventures Ltd · JPPOWER
3.4%
—
4.2%
—
6.9%
—
4.8%
—
5.0%
7.6%
11%
13%
13%
13%
8.8%
9.2%
7.9%
8.2%
5.5%
6.6%
NHPC Ltd · NHPC
6.2%
—
6.0%
—
6.2%
—
6.9%
—
6.2%
7.1%
5.9%
7.5%
5.7%
7.6%
4.9%
6.9%
4.7%
6.6%
3.1%
—
NTPC Green Energy Ltd · NTPCGREEN
—
—
—
—
—
—
—
—
—
—
4.9%
4.5%
3.7%
4.3%
2.8%
4.6%
2.8%
4.3%
2.5%
—
Orient Green Power Company Ltd · GREENPOWER⚠ unverified
6.1%
—
8.5%
—
8.3%
—
5.8%
—
6.7%
8.4%
6.5%
7.8%
4.8%
6.3%
5.6%
8.6%
6.4%
8.4%
5.9%
7.9%
RattanIndia Power Ltd · RTNPOWER
4.4%
—
7.1%
—
218%
—
-33%
—
-22%
345%
3.4%
267%
4.6%
265%
4.0%
7.3%
2.4%
7.3%
2.0%
—
Reliance Power Ltd · RPOWER
6.8%
—
5.2%
—
4.5%
—
2.9%
—
2.8%
4.2%
0.4%
2.4%
-0.6%
16%
4.7%
18%
5.5%
6.5%
4.9%
—
SJVN Ltd · SJVN
7.6%
—
6.7%
—
7.3%
—
6.7%
—
4.8%
5.8%
3.7%
5.6%
3.9%
5.6%
3.7%
4.8%
3.8%
4.9%
5.4%
—
Tata Power Company Ltd · TATAPOWER
6.6%
—
—
—
3.5%
—
5.5%
—
7.8%
12%
7.2%
11%
8.0%
11%
9.0%
11%
7.9%
10%
6.4%
—
Torrent Power Ltd · TORNTPOWER
11%
—
12%
—
12%
—
16%
19%
16%
15%
13%
17%
14%
16%
14%
14%
12%
14%
12%
—
ROCE change · reported quarter history
Adani Power Ltd · ADANIPOWER
—
—
—
—
+10.8 pp
—
−0.3 pp
—
−3.6 pp
—
+8.5 pp
—
+5.8 pp
−6.7 pp
−0.9 pp
−6.0 pp
−2.8 pp
−6.7 pp
−5.3 pp
—
Gujarat Industries Power Co Ltd · GIPCL
—
—
—
—
−1.4 pp
—
−0.4 pp
—
−1.1 pp
—
−1.5 pp
—
−0.1 pp
−0.4 pp
−1.1 pp
−1.8 pp
−1.8 pp
−1.9 pp
−0.2 pp
—
India Power Corporation Ltd · DPSCLTD⚠ unverified
—
—
—
—
—
—
−1.5 pp
—
—
—
+2.9 pp
—
—
0.0 pp
+4.2 pp
−1.3 pp
—
−1.3 pp
−2.3 pp
—
Jaiprakash Power Ventures Ltd · JPPOWER
—
—
—
—
+3.5 pp
—
+0.6 pp
—
−1.9 pp
—
+6.6 pp
—
+7.5 pp
+5.2 pp
−2.6 pp
−3.9 pp
−4.6 pp
−4.6 pp
−3.3 pp
−2.6 pp
NHPC Ltd · NHPC
—
—
—
—
0.0 pp
—
+0.9 pp
—
0.0 pp
—
−1.0 pp
—
−0.5 pp
+0.5 pp
−1.0 pp
−0.6 pp
−1.0 pp
−1.0 pp
−1.8 pp
—
NTPC Green Energy Ltd · NTPCGREEN
—
—
—
—
—
—
—
—
—
—
—
—
—
—
−2.1 pp
+0.1 pp
−0.9 pp
0.0 pp
−0.3 pp
—
Orient Green Power Company Ltd · GREENPOWER⚠ unverified
—
—
—
—
+2.2 pp
—
−2.7 pp
—
−1.6 pp
—
+0.7 pp
—
−1.9 pp
−2.1 pp
−0.9 pp
+0.8 pp
+1.6 pp
+2.1 pp
+0.3 pp
−0.7 pp
RattanIndia Power Ltd · RTNPOWER
—
—
—
—
+213.8 pp
—
−40.2 pp
—
−240.2 pp
—
+36.5 pp
—
+26.6 pp
−79.6 pp
+0.6 pp
−259.5 pp
−2.2 pp
−257.7 pp
−2.0 pp
—
Reliance Power Ltd · RPOWER
—
—
—
—
−2.3 pp
—
−2.3 pp
—
−1.7 pp
—
−2.5 pp
—
−3.4 pp
+12.2 pp
+4.3 pp
+15.4 pp
+6.1 pp
−9.9 pp
+0.2 pp
—
SJVN Ltd · SJVN
—
—
—
—
−0.3 pp
—
0.0 pp
—
−2.5 pp
—
−3.0 pp
—
−0.9 pp
−0.2 pp
0.0 pp
−0.8 pp
−0.1 pp
−0.7 pp
+1.7 pp
—
Tata Power Company Ltd · TATAPOWER
—
—
—
—
−3.1 pp
—
—
—
+4.3 pp
—
+1.7 pp
—
+0.2 pp
−0.8 pp
+1.8 pp
−0.6 pp
−0.1 pp
−1.0 pp
−2.6 pp
—
Torrent Power Ltd · TORNTPOWER
—
—
—
—
+1.1 pp
—
+3.6 pp
—
+3.2 pp
—
−2.6 pp
−1.5 pp
−1.4 pp
+1.6 pp
+0.5 pp
−2.7 pp
−2.5 pp
−2.0 pp
−2.2 pp
—
07 · compare level, then change
Valuation Against Growth & Quality
SJVN Ltd has the lowest Guarded PEG among the 20 Power - Generation/Distribution companies compared here, at 0.29×. Adani Power Ltd is next at 0.65×. Gujarat Industries Power Co Ltd has the lowest P/E at 6.06×, so level and change sit with different companies. 7 of 20 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: SJVN Ltd has the lowest comparable Guarded PEG at 0.29×, 55.4% below Adani Power Ltd. Only 7 of 20 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.
LeaderSJVN Ltd · 0.29×
Gap55.4% versus #2 · Adani Power Ltd
Persistence0/8 recent comparable periods
Coverage7/20 companies · 47 observations
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.
PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.
Guarded PEGlowest PEG
1SJVN Ltd SJVN0.3
2Adani Power Ltd ADANIPOWER0.7
3Torrent Power Ltd TORNTPOWER0.8
4Gujarat Industries Power Co Ltd GIPCL2.5
5NHPC Ltd NHPC3.3
P/Elowest P/E
1Gujarat Industries Power Co Ltd GIPCL6.1
2NLC India Ltd NLCINDIA11.5
3NTPC Ltd NTPC12.1
4Jaiprakash Power Ventures Ltd JPPOWER13.9
5CESC Ltd CESC14.0
Valuation · company comparison
7/20 level · 18/20 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Guarded PEG | P/E | Reported |
|---|---|---|---|
| NTPC Green Energy Ltd NTPCGREEN | 4.9 | 154.4 | Jun 2026 |
| Tata Power Company Ltd TATAPOWER | 4.6 | 32.6 | Mar 2026 |
| NHPC Ltd NHPC | 3.3 | 24.3 | Mar 2026 |
| Gujarat Industries Power Co Ltd GIPCL | 2.5 | 13.4 | Mar 2026 |
| Torrent Power Ltd TORNTPOWER | 0.8 | 21.6 | Mar 2026 |
| Adani Power Ltd ADANIPOWER | 0.7 | 34.6 | Jun 2026 |
| SJVN Ltd SJVN | 0.3 | 41.1 | Mar 2026 |
| Mac Charles (India) Ltd 507836 | — | 13.8 | Mar 2026 |
| NTPC Ltd NTPC | — | 12.6 | Jun 2026 |
| Adani Green Energy Ltd ADANIGREEN | — | 137.4 | Jun 2026 |
| JSW Energy Ltd JSWENERGY | — | 46.2 | Jun 2026 |
| NLC India Ltd NLCINDIA | — | 14.4 | Mar 2026 |
| CESC Ltd CESC | — | 13.6 | Mar 2026 |
| Jaiprakash Power Ventures Ltd JPPOWER | — | 27.2 | Jun 2026 |
| Reliance Power Ltd RPOWER | — | 30.9 | Mar 2026 |
| KPI Green Energy Ltd KPIGREEN | — | 17.0 | Mar 2026 |
| RattanIndia Power Ltd RTNPOWER | — | 91.2 | Jun 2026 |
| BF Utilities Ltd BFUTILITIE | — | 18.3 | Dec 2025 |
| Orient Green Power Company Ltd GREENPOWER⚠ unverified | — | 21.1 | Jun 2026 |
| India Power Corporation Ltd DPSCLTD⚠ unverified | — | 102.7 | Mar 2026 |
Full 20-quarter history · every available company
Guarded PEG · reported quarter history
Adani Power Ltd · ADANIPOWER
—
—
—
—
—
—
—
—
0.2
—
—
—
1.8
—
0.7
—
—
—
—
—
Gujarat Industries Power Co Ltd · GIPCL
—
—
—
—
0.2
0.3
0.6
—
—
1.9
1.2
1.0
1.2
1.0
2.5
—
—
—
—
—
NHPC Ltd · NHPC
0.4
0.3
1.4
—
1.3
1.2
0.3
1.1
—
—
—
—
—
—
—
—
—
3.3
—
—
NTPC Green Energy Ltd · NTPCGREEN
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
19.6
—
—
4.9
—
SJVN Ltd · SJVN
0.3
0.3
—
—
—
0.5
—
0.3
—
—
—
—
—
—
—
—
—
—
—
—
Tata Power Company Ltd · TATAPOWER
—
—
—
—
—
—
—
0.4
0.9
—
2.5
5.9
4.5
3.0
1.8
2.1
—
4.6
—
—
Torrent Power Ltd · TORNTPOWER
—
—
—
0.6
0.3
0.2
—
0.5
1.4
2.8
—
—
5.5
—
1.2
0.4
1.5
0.8
0.8
—
P/E · reported quarter history
Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Adani Green Energy Ltd · ADANIGREEN
543.3
502.0
716.9
668.2
715.4
558.3
220.3
132.3
127.7
173.4
176.6
224.4
232.9
129.5
102.0
96.6
90.2
75.1
82.1
137.4
Adani Power Ltd · ADANIPOWER
16.5
20.2
19.2
20.7
15.3
11.2
7.3
9.0
9.9
9.8
8.8
13.3
15.8
15.4
15.1
17.4
22.7
22.8
25.9
34.6
CESC Ltd · CESC
8.0
8.5
7.6
6.9
7.5
7.5
6.6
7.1
8.5
12.1
11.4
15.7
18.8
17.3
14.6
16.7
15.7
15.2
13.6
—
Jaiprakash Power Ventures Ltd · JPPOWER
18.7
38.8
20.8
40.9
14.7
12.2
39.6
76.9
74.4
199.3
21.5
9.5
7.6
7.6
6.3
15.2
16.3
16.0
16.4
27.2
JSW Energy Ltd · JSWENERGY
73.4
64.1
50.2
20.2
24.7
22.2
20.0
34.5
59.6
42.3
52.9
72.9
63.3
54.9
49.1
51.2
41.8
41.4
36.6
46.2
NHPC Ltd · NHPC
8.2
8.7
7.8
8.8
9.8
10.3
10.9
11.8
13.6
16.6
24.2
28.0
26.6
27.3
30.7
28.6
27.5
24.8
24.3
—
NLC India Ltd · NLCINDIA
6.1
6.4
6.0
8.2
7.3
7.5
11.9
10.7
15.0
18.3
12.3
18.0
20.0
18.0
15.1
12.1
13.6
13.3
14.4
—
NTPC Green Energy Ltd · NTPCGREEN
—
—
—
—
—
—
—
—
—
—
—
—
—
216.4
197.3
163.0
148.3
129.1
144.0
154.4
NTPC Ltd · NTPC
7.7
7.9
8.1
7.9
9.0
9.5
9.9
10.8
13.3
15.8
16.7
17.6
19.8
14.7
15.8
14.0
13.7
13.2
15.1
12.6
SJVN Ltd · SJVN
5.6
6.8
6.7
10.4
9.7
10.4
9.6
11.7
27.5
34.5
53.5
61.5
57.0
45.5
39.1
47.7
51.7
52.2
41.1
—
Tata Power Company Ltd · TATAPOWER
32.9
47.2
47.2
31.1
26.3
21.9
17.1
21.9
25.0
31.1
36.8
40.8
42.2
33.6
31.0
32.8
29.8
30.0
32.6
—
Torrent Power Ltd · TORNTPOWER
21.3
20.6
17.4
13.8
12.2
11.7
10.5
14.0
16.6
20.6
35.2
39.3
40.1
31.1
30.6
24.3
22.4
21.9
21.6
—
08 · compare level, then change
Enterprise Value & Book Value
BF Utilities Ltd has the lowest EV/EBITDA among the 20 Power - Generation/Distribution companies compared here, at 5.3×. CESC Ltd is next at 7.6×. Reliance Power Ltd has the lowest P/BV at 0.62×, so level and change sit with different companies. 20 of 20 companies report a comparable reading, the latest through Dec 2025.
What the numbers say: BF Utilities Ltd leads ev/ebitda at 5.3×; Reliance Power Ltd leads p/bv at 0.62×.
LeaderBF Utilities Ltd · 5.3×
Gap30.3% versus #2 · CESC Ltd
Persistence5/8 recent comparable periods
Coverage20/20 companies · 370 observations
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.
EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.
EV/EBITDAlowest EV/EBITDA
1BF Utilities Ltd BFUTILITIE · older report5.3
2CESC Ltd CESC7.6
3Orient Green Power Company Ltd GREENPOWER⚠ unverified8.0
4Reliance Power Ltd RPOWER8.1
5Gujarat Industries Power Co Ltd GIPCL8.5
P/BVlowest P/BV
1Reliance Power Ltd RPOWER0.6
2Gujarat Industries Power Co Ltd GIPCL0.6
3India Power Corporation Ltd DPSCLTD⚠ unverified0.8
4Jaiprakash Power Ventures Ltd JPPOWER0.9
5RattanIndia Power Ltd RTNPOWER1.0
Enterprise and book valuation · company comparison
20/20 level · 20/20 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | EV/EBITDA | P/BV | Reported |
|---|---|---|---|
| NTPC Green Energy Ltd NTPCGREEN | 41.8 | 4.2 | Jun 2026 |
| Mac Charles (India) Ltd 507836 | 29.2 | 11.8 | Mar 2026 |
| Adani Green Energy Ltd ADANIGREEN | 29.1 | 12.6 | Jun 2026 |
| Adani Power Ltd ADANIPOWER | 21.0 | 6.8 | Jun 2026 |
| SJVN Ltd SJVN | 19.8 | 1.8 | Mar 2026 |
| JSW Energy Ltd JSWENERGY | 16.1 | 3.3 | Jun 2026 |
| NHPC Ltd NHPC | 15.2 | 1.9 | Mar 2026 |
| Torrent Power Ltd TORNTPOWER | 13.3 | 3.6 | Mar 2026 |
| India Power Corporation Ltd DPSCLTD⚠ unverified | 12.0 | 0.8 | Mar 2026 |
| Tata Power Company Ltd TATAPOWER | 11.3 | 3.3 | Mar 2026 |
| RattanIndia Power Ltd RTNPOWER | 11.2 | 1.1 | Jun 2026 |
| NTPC Ltd NTPC | 10.4 | 1.7 | Jun 2026 |
| KPI Green Energy Ltd KPIGREEN | 10.3 | 2.8 | Mar 2026 |
| NLC India Ltd NLCINDIA | 9.1 | 1.9 | Mar 2026 |
| Jaiprakash Power Ventures Ltd JPPOWER | 9.1 | 1.0 | Jun 2026 |
| Gujarat Industries Power Co Ltd GIPCL | 8.5 | 0.6 | Mar 2026 |
| Reliance Power Ltd RPOWER | 8.1 | 0.5 | Mar 2026 |
| Orient Green Power Company Ltd GREENPOWER⚠ unverified | 8.0 | 1.2 | Jun 2026 |
| CESC Ltd CESC | 7.6 | 1.6 | Mar 2026 |
| BF Utilities Ltd BFUTILITIE | 5.3 | 13.2 | Dec 2025 |
Full 20-quarter history · every available company
EV/EBITDA · reported quarter history
Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Adani Green Energy Ltd · ADANIGREEN
70.4
78.5
95.3
80.3
99.4
85.1
45.3
34.4
29.5
37.6
38.1
38.4
41.4
24.1
22.0
22.9
23.4
23.1
19.8
29.1
Adani Power Ltd · ADANIPOWER
7.7
11.5
13.3
11.1
9.9
8.0
6.1
10.0
10.7
10.5
9.3
10.8
11.6
9.8
9.4
10.8
13.4
13.3
15.2
21.0
CESC Ltd · CESC
6.1
5.8
5.5
5.5
5.5
5.5
5.4
5.7
6.0
7.0
6.6
8.0
9.1
8.8
7.7
8.0
8.2
8.1
7.6
—
Jaiprakash Power Ventures Ltd · JPPOWER
5.8
7.3
7.1
7.0
5.5
5.2
6.0
7.1
10.1
11.2
8.0
6.9
5.3
5.1
4.5
7.0
7.4
6.7
6.3
9.1
JSW Energy Ltd · JSWENERGY
20.7
17.5
16.2
10.3
13.3
12.8
11.0
17.7
23.1
18.6
20.6
27.0
25.6
22.6
20.4
23.1
17.9
16.7
15.0
16.1
NHPC Ltd · NHPC
7.6
7.8
8.8
10.6
12.0
11.8
9.8
10.2
11.4
14.2
18.0
18.4
17.4
15.1
15.3
16.1
16.5
16.0
15.2
—
NLC India Ltd · NLCINDIA
6.8
5.3
5.2
6.9
5.7
6.3
7.8
7.5
8.7
9.9
7.8
10.0
10.9
10.8
10.1
8.2
9.4
8.9
9.1
—
NTPC Green Energy Ltd · NTPCGREEN
—
—
—
—
—
—
—
—
—
—
—
—
—
69.2
50.0
47.3
42.9
40.4
40.0
41.8
NTPC Ltd · NTPC
8.1
7.8
7.9
7.5
8.1
8.0
7.6
7.8
8.8
9.6
10.0
10.4
11.3
9.5
9.8
8.9
8.8
8.7
9.2
10.4
SJVN Ltd · SJVN
4.0
4.9
4.6
5.9
8.5
8.5
6.7
7.8
17.9
22.4
29.7
29.4
30.2
25.7
22.1
22.2
23.5
21.8
19.8
—
Tata Power Company Ltd · TATAPOWER
9.1
12.4
12.8
11.1
11.3
10.1
8.4
8.6
9.2
10.8
12.5
13.5
14.1
11.9
11.2
12.0
11.1
11.5
11.3
—
Torrent Power Ltd · TORNTPOWER
9.4
9.5
8.4
7.8
7.9
7.5
6.6
7.5
8.7
10.4
15.5
16.8
18.5
15.1
14.9
14.8
13.0
13.3
13.3
—
P/BV · reported quarter history
Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.
Adani Green Energy Ltd · ADANIGREEN
81.9
84.1
121.5
132.0
53.0
45.3
52.3
20.5
21.4
31.9
36.6
28.8
31.9
15.8
14.2
13.3
13.7
8.6
7.0
12.6
Adani Power Ltd · ADANIPOWER
2.8
2.9
4.1
7.8
6.0
4.8
4.0
5.2
4.9
5.0
5.1
6.5
5.9
3.5
3.5
4.0
5.0
4.7
5.1
6.8
CESC Ltd · CESC
1.1
1.1
1.0
0.9
0.9
0.9
0.8
0.9
1.1
1.5
1.4
2.0
2.3
2.0
1.7
2.0
1.8
1.7
1.6
—
Jaiprakash Power Ventures Ltd · JPPOWER
0.3
0.4
0.5
0.4
0.5
0.5
0.4
0.4
0.7
0.9
1.0
1.3
1.1
1.0
0.8
1.0
1.0
0.9
0.8
1.0
JSW Energy Ltd · JSWENERGY
4.0
3.1
3.1
2.0
2.8
2.7
2.3
2.4
3.9
3.4
4.4
5.8
5.8
3.9
3.4
3.3
3.3
2.9
2.9
3.3
NHPC Ltd · NHPC
0.8
0.9
0.8
0.9
1.0
1.1
1.2
1.3
1.4
1.7
2.3
2.7
2.5
2.0
2.1
2.2
2.1
1.9
1.9
—
NLC India Ltd · NLCINDIA
0.6
0.6
0.6
0.6
0.6
0.8
0.8
1.1
1.2
2.1
1.9
2.2
2.4
1.9
1.9
1.9
2.1
1.7
1.9
—
NTPC Green Energy Ltd · NTPCGREEN
—
—
—
—
—
—
—
—
—
—
—
—
—
12.9
4.6
4.8
4.5
4.2
4.3
4.2
NTPC Ltd · NTPC
1.0
0.9
1.0
1.1
1.1
1.1
1.2
1.4
1.6
2.0
2.1
2.5
2.6
1.9
2.1
2.0
1.8
1.6
1.9
1.7
SJVN Ltd · SJVN
0.8
0.9
0.8
0.8
0.9
1.0
1.0
1.2
2.1
2.5
3.3
3.7
3.7
2.9
2.5
2.8
2.5
2.0
1.8
—
Tata Power Company Ltd · TATAPOWER
2.0
3.3
3.6
3.0
2.7
2.6
2.7
2.5
2.9
3.5
4.2
4.3
4.8
3.8
3.6
3.6
3.4
3.2
3.3
—
Torrent Power Ltd · TORNTPOWER
2.4
2.5
2.2
2.2
2.1
2.2
2.5
3.0
3.2
3.8
5.5
6.5
7.6
5.2
5.6
5.9
3.5
3.5
3.6
—
09 · let price answer last
Market action
Adani Power Ltd has the strongest one-year price move in Power - Generation/Distribution at +80.3%. Adani Green Energy Ltd leads on Mansfield relative strength against NIFTY at +37.1%. 5 of 20 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-17.
Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.
Price and relative strength
Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.
Before the conclusion · check the blind spots
What can make this comparison misleading?
This Power - Generation/Distribution comparison names 8 specific ways its own evidence can mislead, all listed below. 1 of the 20 companies reports on an older date than the sector's freshest reporters, so its rank is marked stale. 2 draw at least one figure from a second feed with too little overlap to cross-check.
Keep these limits visible
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 1 company has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.
- 2 companies draw at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; they are marked unverified wherever those figures appear.
- 7 companies are missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
- Thin comparisons: Capital expenditure have fewer than three usable current readings.
10 · the complete set
Which companies are included?
All 20 companies in the canonical 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.
| Company | Market value | Price | Priced to | Latest fundamentals | Source standing |
|---|---|---|---|---|---|
| Adani Power Ltd ADANIPOWER22/26 WEEKS | ₹4.1 L Cr | ₹214 | 2026-07-19 | Jun 2026 | Cross-checked |
| NTPC Ltd NTPC18/26 WEEKS | ₹3.4 L Cr | ₹347 | 2026-07-19 | Jun 2026 | Second feed withheld |
| Adani Green Energy Ltd ADANIGREENAHEAD | ₹2.3 L Cr | ₹1,395 | 2026-07-19 | Jun 2026 | Second feed withheld |
| Tata Power Company Ltd TATAPOWER | ₹1.2 L Cr | ₹374 | 2026-07-19 | Mar 2026 | Cross-checked |
| JSW Energy Ltd JSWENERGY22/26 WEEKS | ₹1.0 L Cr | ₹552 | 2026-07-19 | Jun 2026 | Second feed withheld |
| NTPC Green Energy Ltd NTPCGREEN | ₹81.2K Cr | ₹96.3 | 2026-07-19 | Jun 2026 | Cross-checked |
| NHPC Ltd NHPC | ₹79.7K Cr | ₹79.4 | 2026-07-19 | Mar 2026 | Cross-checked |
| Torrent Power Ltd TORNTPOWER | ₹72.3K Cr | ₹1,434 | 2026-07-19 | Mar 2026 | Cross-checked |
| NLC India Ltd NLCINDIA23/26 WEEKS | ₹40.6K Cr | ₹293 | 2026-07-19 | Mar 2026 | Second feed withheld |
| SJVN Ltd SJVN | ₹26.6K Cr | ₹67.6 | 2026-07-19 | Mar 2026 | Cross-checked |
| CESC Ltd CESC | ₹21.6K Cr | ₹163 | 2026-07-19 | Mar 2026 | Second feed withheld |
| Jaiprakash Power Ventures Ltd JPPOWER | ₹11.6K Cr | ₹17.0 | 2026-07-19 | Jun 2026 | Cross-checked |
| Reliance Power Ltd RPOWER | ₹10.0K Cr | ₹24.1 | 2026-07-19 | Mar 2026 | Cross-checked |
| KPI Green Energy Ltd KPIGREENLAGGING, FUNDAMENTALS UP | ₹7.7K Cr | ₹390 | 2026-07-19 | Mar 2026 | Second feed withheld |
| RattanIndia Power Ltd RTNPOWER | ₹4.6K Cr | ₹8.6 | 2026-07-19 | Jun 2026 | Cross-checked |
| Gujarat Industries Power Co Ltd GIPCLLAGGING, FUNDAMENTALS UP | ₹2.4K Cr | ₹157 | 2026-07-19 | Mar 2026 | Cross-checked |
| BF Utilities Ltd BFUTILITIE | ₹2.2K Cr | ₹580 | 2026-07-19 | Dec 2025 | Second feed withheld |
| Orient Green Power Company Ltd GREENPOWER⚠ unverified | ₹1.2K Cr | ₹10.0 | 2026-07-19 | Jun 2026 | Includes unverified figures |
| Mac Charles (India) Ltd 50783618/26 WEEKS | ₹938 Cr | ₹716 | 2026-07-05 | Mar 2026 | Primary source only |
| India Power Corporation Ltd DPSCLTDLAGGING, FUNDAMENTALS UP⚠ unverified | ₹698 Cr | ₹7.2 | 2026-07-19 | Mar 2026 | Includes unverified figures |
How each company's sources stand: 2 of 20 companies draw at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear. 7 of 20 companies have a second data feed that is known to disagree with the primary source, so nothing from it is drawn: NTPC Ltd (NTPC) — its two data sources disagree by up to 4.9% on reported income across 14 comparable periods, so its derived ratios are withheld; Adani Green Energy Ltd (ADANIGREEN) — its two data sources disagree by up to 910% on reported income across 14 comparable periods, so its derived ratios are withheld; JSW Energy Ltd (JSWENERGY) — its two data sources disagree by up to 35% on reported income across 14 comparable periods, so its derived ratios are withheld; NLC India Ltd (NLCINDIA) — its two data sources disagree by up to 8.2% on reported income across 14 comparable periods, so its derived ratios are withheld; CESC Ltd (CESC) — its two data sources disagree by up to 6.5% on reported income across 14 comparable periods, so its derived ratios are withheld; KPI Green Energy Ltd (KPIGREEN) — its two data sources disagree by up to 6.3% on reported income across 14 comparable periods, so its derived ratios are withheld; BF Utilities Ltd (BFUTILITIE) — its two data sources disagree by up to 59% on reported income across 13 comparable periods, so its derived ratios are withheld.
Evidence and freshness
How was this comparison built?
This comparison is built from the reported filings of 20 Power - Generation/Distribution companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-24. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.
FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-07-24 · weekly price and relative-strength history
Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing10 cross-checked · 3 unverified · 7 withheld, of 20 graded companies.
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.
Questions investors ask · short, speakable answers
Power - Generation/Distribution company comparison FAQs
These 18 answers restate the Power - Generation/Distribution comparison above in question form. Every one is computed from the same 20 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-24. Nothing here is estimated, and none of it is a recommendation.
What is the Nifty Power - Generation/Distribution index?
The Nifty Power - Generation/Distribution index tracks India's listed Power - Generation/Distribution companies as a single basket. This page follows the same 20 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Power - Generation/Distribution sector rather than to its largest constituent. Figures are as of Jun 2026.
Which are the best Power - Generation/Distribution stocks in India?
Ranked by this page's four-factor score, NLC India Ltd places first among 20 listed Power - Generation/Distribution companies, followed by Mac Charles (India) Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.
How many Power - Generation/Distribution stocks are listed in India?
This comparison covers 20 listed Power - Generation/Distribution companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.
Which Power - Generation/Distribution company is the biggest?
NTPC Ltd is the largest, with trailing-twelve-month revenue of ₹1,91,059 crore, ahead of Tata Power Company Ltd at ₹62,428 crore. That covers 20 of 20 companies with comparable reporting through Jun 2026.
Which Power - Generation/Distribution company is growing fastest?
Mac Charles (India) Ltd has the fastest revenue growth at 100% year on year, across 20 of 20 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.
Which Power - Generation/Distribution company has the best profit margins?
Adani Green Energy Ltd has the highest operating margin at 90%, from 20 of 20 comparable companies. Mac Charles (India) Ltd shows the biggest recent improvement, at +547 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.
Which Power - Generation/Distribution company makes the most profit?
NTPC Ltd earns the most, at ₹28,333 crore of trailing-twelve-month net profit, from 20 of 20 comparable companies. Gujarat Industries Power Co Ltd has the fastest profit growth at 89.6%, though growth off a small or recovering profit base overstates how much has actually changed.
Which Power - Generation/Distribution company earns the highest return on capital?
BF Utilities Ltd leads on return on capital employed at 29.9%, across 20 of 20 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.
Which Power - Generation/Distribution stock is the cheapest?
On guarded PEG — where a LOWER number is cheaper — SJVN Ltd screens cheapest at 0.29×. Only 7 of 20 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.
Which Power - Generation/Distribution company has the strongest balance sheet?
India Power Corporation Ltd carries the lowest comparable gross debt at ₹127 crore, from 20 of 20 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.
Which Power - Generation/Distribution stock has the strongest price momentum?
Adani Green Energy Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.
Which Power - Generation/Distribution company scores highest for research priority?
NLC India Ltd scores 62.4 out of 100 with 79% evidence confidence, from 23.8 points on growth and earnings, 12.8 on capital efficiency, 10.5 on valuation and 15.3 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.
How many Power - Generation/Distribution companies does this comparison cover, and over what period?
It compares 20 listed companies over up to 20 reported quarters of fundamentals and 10 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.
What is the total market cap of the Power - Generation/Distribution sector?
The 20 Power - Generation/Distribution companies on this page carry ₹15,62,600 crore of combined market value. Adani Power Ltd is the largest at ₹4,12,037 crore, about 26% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-29.
What is the Power - Generation/Distribution sector's P/E ratio?
The median price-to-earnings ratio across the 20 Power - Generation/Distribution companies on this page is 28.9×, measured on the 18 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-29.
How is the Power - Generation/Distribution sector performing?
5 of the 20 covered Power - Generation/Distribution companies are beating NIFTY 500 on Mansfield relative strength. A 52-week sector-versus-index comparison is not available from the current market series for this sector, so it is not quoted. Readings are as of 2026-07-29.
Why are some values on this page blank?
A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.
Is this investment advice?
No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.