Electric Equipment - General — sector analysis & key numbers
Electric Equipment - General is mid-way through a confirmed up-move: 10 of 11 constituents are in price uptrends, and aggregate profit grew 24% in the latest year.
Electric Equipment - General groups 11 listed companies worth ₹1,95,966 Cr combined, and 10 of 11 are in confirmed price uptrends. Aggregate profit moved +177.9% year-on-year in the latest reported quarter. The sector trades at an aggregate P/E of 31.7×, at the 60th percentile of its own history.
Data as of 1 July 2026 · every number traces to its Screener source column · not investment advice.
- Companies
- 11
- Total market cap
- ₹1,95,966 Cr
- Relative strength
- 72.7
- RRG quadrant
- broadening
- Weeks in streak
- 12
- In Stage-2 uptrend
- 10 of 11
- Above 200-DMA
- 10 of 11
- Beating NIFTY 500
- 3 of 11
- Latest-quarter revenue
- ₹8,669 Cr
- Latest-quarter profit
- ₹2,465 Cr
- Aggregate P/E
- 31.7×
- Valuation percentile
- 60th of its own history
- Sector wind
- tailwind
- Data as of
- 1 July 2026
The research read on Electric Equipment - General: mid-way through a confirmed up-move.lifecycle_bucket
All three streams point up on the structural thesis, but they disagree on timing/price and on whether the capital cycle is friend or foe — hence mixed. CURVE: an earnings-led super-cycle (PAT -55 in 2022 to 2548 in 2025, OPM a durable ~16%) that has wrung out its froth (PE 851.6 to 31.7, -96.3%; PB 15.9 to 10.14) with price re-accelerating off a late-2025 trough — broken-out and mid-cycle, with earnings doing the work. The deterministic mechanism is unambiguous: earnings-led, aggregate earnings +4732.7% versus a multiple -96.3%, driven by ABB (lifted aggregate PAT, 59.8% share) and Emmvee (43.2% share), with Indosolar/Waaree dragging (-33.6%). QUAL: a tailwind structural thesis but a on watch verdict that wants the integrated, debt-light leaders and distrusts the leveraged capex-burners. SOCIAL: euphoric (87, +22) but a broad super-group read, not name-specific. The decisive tension is the cyclicality inversion the deterministic block hands us: the optically cheap aggregate PE (0th percentile trailing) is a peak margin value trap — OPM sits at the 82nd percentile against an 8.31% mid-cycle, so normalising margins lifts the aggregate PE to the 12th percentile. Capital_flows sharpens it: entering but capacity risk — institutions absent while a capex supply flood (CWIP +548%) builds margin-eroding supply into a peak-margin sector. Net: a genuinely earnings-backed up-cycle, but at peak margins with a capacity flood and only broad/off-target qual-social corroboration — mid-cycle, not the start of the curve, and the easy multiple-expansion money is already made. Conviction held in the low-60s.synthesis
What would change this view: Sector aggregate OPM rolls down from the 82nd-percentile peak as the capex supply flood lands (silver/copper-led gross-margin compression confirmed in the next 2-3 quarters) while ΣPAT growth stalls — that would turn the cheap-looking trailing PE into a confirmed peak-margin value trap rather than a mid-cycle earnings compounder, and the earnings-led durability call breaks.would_change_my_mind
ALMM List-2 cell mandate and a grid/RE capex supercycle are driving explosive solar-manufacturing growth, but peak-capex leverage and silver/copper margin squeeze make it a watch, not a chase.one_line_thesis
- ✓Sector aggregate PAT was negative every year 2015-2022 (bottoming -529 in 2019, still -55 in 2022) then inflected to profit: 1104 (2023), 2052 (2024), 2548 (2025). · electric-equipment-general.json (curve.annual_fundamentals.pat, years 2015-2026)
- ✓Revenue surged from 3790 (2023) to 17236 (2024) to 22404 (2025), partly a reporter-composition effect as reporters rose 9 to 10 to 11. · electric-equipment-general.json (curve.annual_fundamentals.revenue + reporters)
- ⚠Deterministic margin block puts current aggregate OPM 16.04% at the 82nd percentile of its 11-year range versus an 8.31% normalized mid-cycle (rising, amplitude 9.06x, gap +93%). · electric-equipment-general.json (sector_cycle_deterministic.margin)
- ✓PE compressed from 851.57 at the 2023-03 anchor to 31.66 by 2026-03 (lens reads DE-rating) as earnings grew into the price; PB from 15.9 (2023-03) to 10.14 (2026-03). · electric-equipment-general.json (curve)
- ⚠The deterministic curve_move_driver is earnings-led: aggregate earnings +4732.7% over roughly three years vs the multiple -96.3% and price +78.8% — the durable winner pattern. · electric-equipment-general.json (sector_cycle_deterministic.curve_move_driver)
- ✓PB de-rated from a 24.42 peak (2024-06) down to 10.14 by 2026-03 — the multiple unwind confirms the earnings-caught-up story. · electric-equipment-general.json (curve.valuation_series.pb)
- ⚠Price index rose from 100 (2016-06) to a peak of 781.5 (2024-03), corrected to a 485.1 trough (2025-12), and re-accelerated to 554.6 (2026-03). · electric-equipment-general.json (curve.valuation_series.price_idx)
- ⚠ABB lifted aggregate ΔPAT by 1483 cr (59.8% share) and EMMVEE by 1073 cr (43.2% share) — two heavyweights carried the sector profit move. · electric-equipment-general.json (sector_cycle_deterministic.top_contributors.top)
Research view from 2026-06-27
Across the 4 largest constituents with research timelines, 2 carried trackable guidance: 2 beats, 0 met, 2 misses against what management said.guidance_pairs
Vidya Wires Ltd: Total capacity post-expansion is 37,680 MT.claims
“Total capacity post-expansion is 37,680 MT.”
Vidya Wires Ltd · 2026-06-27 · stock_timelines.claims
Research view from 2026-06-27
10 of 11 constituents are in Stage-2 price uptrends, 10 trade above their 200-day averages, and 3 are beating the NIFTY 500 on relative strength.stageabove_dma200rs_mansfield
Over the trailing ~20 weeks, the share of constituents above the 200-day line moved from 64% to 91% — participation is widening.breadth_series
Sector relative strength stands at 72.7, in the broadening quadrant of the rotation map, with relative strength falling over a 12-week streak.current_rsquadrant
Data: Breadth trend
| Period | % above 200-DMA (%) | % beating NIFTY (%) |
|---|---|---|
| Feb 26 | 63.6 | 75.0 |
| Feb 26 | 63.6 | 100.0 |
| Feb 26 | 54.5 | 100.0 |
| Mar 26 | 54.5 | 100.0 |
| Mar 26 | 45.5 | 100.0 |
| Mar 26 | 63.6 | 100.0 |
| Mar 26 | 63.6 | 100.0 |
| Mar 26 | 77.8 | 100.0 |
| Apr 26 | 100.0 | 100.0 |
| Apr 26 | 90.9 | 100.0 |
| Apr 26 | 100.0 | 100.0 |
| Apr 26 | 100.0 | 100.0 |
| May 26 | 100.0 | 100.0 |
| May 26 | 90.9 | 100.0 |
| May 26 | 100.0 | 100.0 |
| May 26 | 90.9 | 60.0 |
| Jun 26 | 90.9 | 80.0 |
| Jun 26 | 90.9 | 60.0 |
| Jun 26 | 90.9 | 60.0 |
| Jun 26 | 90.9 | 60.0 |
Data as of 2026-07-01
Top performers by 1-year price return: Hindusthan Insulators & Industries Ltd (+181%), Yash Highvoltage Ltd (+132.3%), Parth Electricals & Engineering Ltd (+99.7%), Indosolar Ltd (+68.5%), ABB India Ltd (+18.3%).price
Data: Indexed price (base 100, ~52 weeks) — default top-5
| Period | 539984 (index) | 544310 (index) | PARTH (index) | WAAREEINDO (index) | ABB (index) | Sector avg (index) |
|---|---|---|---|---|---|---|
| Jul 25 | 100 | 100 | – | 100 | 100 | 100 |
| Jul 25 | 95.6 | 98.8 | – | 105 | 98.1 | 101 |
| Jul 25 | 96.6 | 80.0 | – | 110 | 98.0 | 98.5 |
| Aug 25 | 90.6 | 88.7 | – | 122 | 93.6 | 101 |
| Aug 25 | 92.8 | 85.2 | – | 155 | 87.2 | 103 |
| Aug 25 | 91.9 | 88.9 | 100 | – | 87.4 | 93.6 |
| Aug 25 | 108 | 81.2 | 128 | 163 | 88.0 | 111 |
| Aug 25 | 105 | 80.6 | 118 | 171 | 86.8 | 109 |
| Sep 25 | 108 | 85.5 | 124 | 180 | 88.9 | 114 |
| Sep 25 | 104 | 81.9 | 127 | 189 | 91.2 | 116 |
| Sep 25 | 101 | 83.3 | 111 | 198 | 94.4 | 115 |
| Sep 25 | 102 | 79.5 | 113 | 208 | 89.9 | 113 |
| Oct 25 | 99.3 | 77.7 | 108 | 241 | 90.0 | 117 |
| Oct 25 | 99.7 | 89.5 | 115 | 292 | 90.1 | 129 |
| Oct 25 | 95.5 | 83.1 | 126 | 277 | 90.4 | 125 |
| Oct 25 | 97.3 | 89.2 | 125 | 263 | 90.0 | 124 |
| Oct 25 | 96.2 | 85.9 | 126 | 250 | 90.7 | 122 |
| Nov 25 | 96.6 | 83.4 | 120 | 238 | 87.1 | 116 |
| Nov 25 | 98.3 | 83.2 | 110 | 226 | 86.0 | 112 |
| Nov 25 | 101 | 82.6 | 114 | 228 | 88.5 | 110 |
| Nov 25 | 96.9 | 84.0 | 115 | 217 | 89.9 | 108 |
| Dec 25 | 96.9 | 80.2 | 111 | 205 | 89.9 | 106 |
| Dec 25 | 98.9 | 76.3 | 94.3 | 181 | 91.7 | 99.5 |
| Dec 25 | 96.7 | 72.7 | 94.9 | 175 | 89.9 | 97.9 |
| Dec 25 | 100 | 69.7 | 99.0 | 213 | 90.0 | 103 |
| Jan 26 | 105 | 68.9 | 97.7 | 210 | 90.4 | 103 |
| Jan 26 | 101 | 62.4 | 94.7 | 180 | 88.5 | 98.7 |
| Jan 26 | 104 | 68.2 | 102 | 191 | 84.6 | 101 |
| Jan 26 | 88.2 | 67.0 | 99.1 | 178 | 81.6 | 94.5 |
| Feb 26 | 86.5 | 66.5 | 104 | 173 | 94.4 | 95.8 |
| Feb 26 | 86.9 | 70.7 | 112 | 178 | 101 | 103 |
| Feb 26 | 89.2 | 78.6 | 112 | 170 | 100 | 103 |
| Feb 26 | 104 | 77.8 | 114 | 165 | 104 | 103 |
| Feb 26 | 106 | 77.5 | 125 | 142 | 106 | 99.6 |
| Mar 26 | 105 | 78.8 | 130 | 131 | 105 | 97.0 |
| Mar 26 | 98.6 | 78.3 | 136 | 130 | 111 | 98.2 |
| Mar 26 | 117 | 79.1 | 152 | 158 | 109 | 106 |
| Mar 26 | 106 | 73.2 | 141 | 158 | 106 | 103 |
| Apr 26 | 124 | 77.1 | 143 | – | 107 | 105 |
| Apr 26 | 151 | 86.8 | 154 | – | 119 | 117 |
| Apr 26 | 187 | 102 | 159 | 211 | 122 | 133 |
| Apr 26 | 217 | 108 | 159 | 186 | 127 | 140 |
| Apr 26 | 242 | 118 | 163 | 178 | 126 | 144 |
| May 26 | 267 | 118 | 174 | 174 | 122 | 150 |
| May 26 | 270 | 119 | 182 | 165 | 111 | 147 |
| May 26 | 273 | 127 | 202 | 161 | 116 | 150 |
| May 26 | 275 | 122 | 207 | 159 | 126 | 160 |
| Jun 26 | 278 | 119 | 208 | 167 | 125 | 159 |
| Jun 26 | 281 | 124 | 207 | 156 | 118 | 158 |
| Jun 26 | 284 | 141 | 209 | 171 | 126 | 168 |
| Jun 26 | 287 | 148 | 204 | 166 | 122 | 168 |
| Jul 26 | 289 | 149 | 200 | 160 | 121 | 170 |
Data: Quarterly revenue (8q) — default top-5
| Period | 539984 (₹ Cr) | 544310 (₹ Cr) | PARTH (₹ Cr) | WAAREEINDO (₹ Cr) | ABB (₹ Cr) | Sector avg (₹ Cr) |
|---|---|---|---|---|---|---|
| Jun 24 | 146 | – | – | 0.0 | – | 131 |
| Sep 24 | 124 | 57.0 | 70.0 | 28.0 | 2,912 | 486 |
| Dec 24 | 136 | – | – | 103 | 3,365 | 677 |
| Mar 25 | 140 | 93.0 | 105 | 192 | 3,010 | 595 |
| Jun 25 | 115 | – | – | 195 | 3,175 | 812 |
| Sep 25 | – | 100 | 80.0 | 203 | 3,311 | 668 |
| Dec 25 | – | – | – | 200 | 3,423 | 916 |
| Mar 26 | – | 136 | 118 | 83.0 | 3,184 | 867 |
Data: Quarterly net profit (8q) — default top-5
| Period | 539984 (₹ Cr) | 544310 (₹ Cr) | PARTH (₹ Cr) | WAAREEINDO (₹ Cr) | ABB (₹ Cr) | Sector avg (₹ Cr) |
|---|---|---|---|---|---|---|
| Jun 24 | -8.0 | – | – | -5.0 | – | 2.7 |
| Sep 24 | 19.0 | 6.0 | 4.0 | 9.0 | 440 | 62.8 |
| Dec 24 | -14.0 | – | – | 10.0 | 528 | 88.9 |
| Mar 25 | -27.0 | 15.0 | 6.0 | 40.0 | 475 | 80.6 |
| Jun 25 | -23.0 | – | – | 117 | 352 | 104 |
| Sep 25 | – | 14.0 | 6.0 | 46.0 | 409 | 88.6 |
| Dec 25 | – | – | – | 41.0 | 433 | 118 |
| Mar 26 | – | 24.0 | 8.0 | 42.0 | 1,784 | 247 |
Data: Operating margin % (8q) — default top-5
| Period | 539984 (%) | 544310 (%) | PARTH (%) | WAAREEINDO (%) | ABB (%) | Sector avg (%) |
|---|---|---|---|---|---|---|
| Jun 24 | 4.0 | – | – | – | – | 8.5 |
| Sep 24 | 1.0 | 20.0 | 11.0 | 77.0 | 19.0 | 20.5 |
| Dec 24 | -3.0 | – | – | 23.0 | 20.0 | 15.7 |
| Mar 25 | -19.0 | 23.0 | 8.0 | 26.0 | 19.0 | 14.0 |
| Jun 25 | 1.0 | – | – | 33.0 | 13.0 | 16.3 |
| Sep 25 | – | 21.0 | 12.0 | 35.0 | 15.0 | 18.9 |
| Dec 25 | – | – | – | 36.0 | 15.0 | 18.9 |
| Mar 26 | – | 26.0 | 9.0 | 77.0 | 13.0 | 21.4 |
Data: Latest reported ROCE / ROE (single latest reading, not a trend) — default top-5
| Period | 539984 (%) | 544310 (%) | PARTH (%) | WAAREEINDO (%) | ABB (%) | Sector avg (%) |
|---|---|---|---|---|---|---|
| ROCE % | -6.8 | 28.6 | 21.0 | 124 | 29.9 | 34.7 |
| ROE % | -11.5 | 23.5 | 18.7 | 151 | 22.4 | 36.6 |
Data: 10-year valuation percentile (latest) — default top-5
| Period | 544310 (percentile) | PARTH (percentile) | WAAREEINDO (percentile) | ABB (percentile) | Sector avg (percentile) |
|---|---|---|---|---|---|
| 10y percentile | 60.0 | 0.0 | 0.0 | 75.0 | 43.0 |
Interactive charts default to the five strongest performers by 1-year price return; use the rail to add or remove any constituent, globally or per chart. Non-interactive readers see the same numbers in each chart’s data table.
Data as of 2026-07-01
In the latest reported quarter (2026-03), constituents together booked ₹8,669 Cr of revenue (+32.5% year-on-year) and ₹2,465 Cr of profit (+177.9%).revenuepat
Reporting honesty note: 10 of the constituents have reported this quarter versus 11 a year ago, so part of the year-on-year change is composition, not like-for-like growth.reporters
On the annual arc, aggregate profit grew 24% to ₹2,548 Cr in 2025.pat
Data: Aggregate quarterly revenue
| Period | Revenue (₹ Cr) | Reporters |
|---|---|---|
| Jun 23 | 334 | 3 |
| Sep 23 | 138 | 2 |
| Dec 23 | 129 | 2 |
| Mar 24 | 161 | 2 |
| Jun 24 | 392 | 3 |
| Sep 24 | 4,859 | 10 |
| Dec 24 | 5,412 | 8 |
| Mar 25 | 6,542 | 11 |
| Jun 25 | 6,493 | 8 |
| Sep 25 | 6,683 | 10 |
| Dec 25 | 7,329 | 8 |
| Mar 26 | 8,669 | 10 |
Data: Aggregate quarterly profit
| Period | Profit after tax (₹ Cr) |
|---|---|
| Jun 23 | 3 |
| Sep 23 | -12 |
| Dec 23 | -14 |
| Mar 24 | -14 |
| Jun 24 | 8 |
| Sep 24 | 628 |
| Dec 24 | 711 |
| Mar 25 | 887 |
| Jun 25 | 835 |
| Sep 25 | 886 |
| Dec 25 | 944 |
| Mar 26 | 2,465 |
Data: Aggregate operating margin
| Period | OPM (%) |
|---|---|
| Jun 23 | 7.5 |
| Sep 23 | 2.2 |
| Dec 23 | 1.6 |
| Mar 24 | -1.2 |
| Jun 24 | 9.4 |
| Sep 24 | 17.0 |
| Dec 24 | 18.9 |
| Mar 25 | 19.1 |
| Jun 25 | 17.5 |
| Sep 25 | 18.7 |
| Dec 25 | 18.2 |
| Mar 26 | 16.6 |
Data: Aggregate profit by year
| Period | Profit after tax (₹ Cr) |
|---|---|
| 2015 | -76 |
| 2016 | -141 |
| 2017 | -56 |
| 2018 | -164 |
| 2019 | -529 |
| 2020 | -14 |
| 2021 | 18 |
| 2022 | -55 |
| 2023 | 1,104 |
| 2024 | 2,052 |
| 2025 | 2,548 |
| 2026 | – |
Data: Operating margin by year
| Period | OPM (%) |
|---|---|
| 2015 | 7.3 |
| 2016 | 5.9 |
| 2017 | 10.5 |
| 2018 | 1.8 |
| 2019 | 2.2 |
| 2020 | 11.3 |
| 2021 | 15.3 |
| 2022 | 8.3 |
| 2023 | 4.5 |
| 2024 | 16.1 |
| 2025 | 16.0 |
| 2026 | – |
Data as of 2026-06-27
Sector profit moved from ₹2,052 Cr to ₹2,548 Cr (+24.2% year-on-year) — the decomposition attributes the larger share to the revenue side (demand and volumes).pat
Sector revenue moved from ₹17,236 Cr to ₹22,404 Cr (+30% year-on-year).revenue
The aggregate P/E moved from 851.6× to 31.7× (-96.3%) while sector profits moved +4732.7% — earnings led the multiple — the durable pattern.pe
Capital cycle: capital is entering this industry, with constituent capex running +30% year-on-year.readcapex_yoy_pct
Sector ΣPAT +24.2% YoY — dominant leg: revenue (volume/demand-led — the durable kind).
patSector Σrevenue +30% YoY — confirm it is demand/volume-led across constituents, not price/base.
revenueSector PE moved -96.3% but aggregate ΣPAT rose +4732.7% over ~3y — EARNINGS led the multiple (the durable pattern). The re-rating is backed by real aggregate earnings.
peprice_idxpatCapital is ENTERING (read=ENTERING; capex +30.04%, FII+DII +0.26pp) — crowding in + a capex surge LATE in the cycle is a HEADWIND (supply coming, competition for returns). Check whether the inflow is EARLY (depressed valuation, fresh turn) or LATE (chasing a run).
capex_yoy_pctfii_dii_delta_4qcwip_growth_pctSector breadth WIDENING — % above 200-DMA 59→91% over the trailing weeks: broad participation corroborates a genuine sector-wide turn rather than a few-name move.
pct_above_200dmapct_outperformingResearch view from 2026-06-27
Ownership: institutional (FII+DII) holdings moved +0.26 percentage points over four quarters; promoter stakes moved +0.04 points over two.fii_dii_delta_4qpromoter_delta_2q
Constituents spent ₹2,567 Cr on capex in the trailing twelve months (+30% year-on-year), with gross block growing +24.6%.capex_ttm_sum_crcapex_yoy_pct
On the deterministic capital-flow read, capital is entering this industry.read
Research view from 2026-06-27
The sector trades at an aggregate P/E of 31.66× against a range of 31.66–4385.3× over its 40-quarter history.pe
The median constituent sits at the 60th percentile of its own 10-year valuation range.percentile
Aggregate operating margin (16%) sits at the 91st percentile of its own annual history — a cheap-looking multiple on near-peak margins is only cheap if the margins hold.opm
Data: Aggregate P/E and price index
| Period | P/E (×) | Price index |
|---|---|---|
| Jun 16 | – | 100 |
| Sep 16 | – | 93 |
| Dec 16 | – | 85 |
| Mar 17 | 283.9 | 105 |
| Jun 17 | 321.4 | 118 |
| Sep 17 | 310.4 | 114 |
| Dec 17 | 312.4 | 115 |
| Mar 18 | – | 106 |
| Jun 18 | – | 96 |
| Sep 18 | – | 115 |
| Dec 18 | – | 107 |
| Mar 19 | – | 107 |
| Jun 19 | – | 131 |
| Sep 19 | – | 126 |
| Dec 19 | – | 122 |
| Mar 20 | 194.9 | 86 |
| Jun 20 | 204.3 | 90 |
| Sep 20 | 180.1 | 80 |
| Dec 20 | 258.2 | 114 |
| Mar 21 | 231.3 | 130 |
| Jun 21 | 295.4 | 166 |
| Sep 21 | 308.7 | 174 |
| Dec 21 | 368.9 | 208 |
| Mar 22 | 3,022.8 | 197 |
| Jun 22 | 3,240.1 | 211 |
| Sep 22 | 4,385.3 | 285 |
| Dec 22 | 416.9 | 248 |
| Mar 23 | 851.6 | 310 |
| Jun 23 | 1,120.4 | 408 |
| Sep 23 | 854.6 | 378 |
| Dec 23 | 937.6 | 431 |
| Mar 24 | 73.6 | 586 |
| Jun 24 | 98.2 | 782 |
| Sep 24 | 92.6 | 749 |
| Dec 24 | 77.7 | 626 |
| Mar 25 | 71.3 | 509 |
| Jun 25 | 66.7 | 560 |
| Sep 25 | 51.7 | 489 |
| Dec 25 | 40.0 | 485 |
| Mar 26 | 31.7 | 555 |
Aggregate operating margin (16%) sits at the 91st percentile of its own annual history — a cheap-looking multiple on near-peak margins is only cheap if the margins hold.
Data as of 2026-06-27
11 companies make up this sector, led by ABB India Ltd at ₹1,47,647 Cr of market value.constituents
| Company | Price | 1y | Stage | RS | 10y val % |
|---|---|---|---|---|---|
| ABB India Ltd | ₹6,937 | +18.3% | 2 | 19.2 | 75 |
| Emmvee Photovoltaic Power Ltd | ₹352 | – | 2 | – | 75 |
| Fujiyama Power Systems Ltd | ₹339 | – | 2 | – | 25 |
| Saatvik Green Energy Ltd | ₹450 | – | 2 | – | 60 |
| Yash Highvoltage Ltd | ₹880 | +132.3% | 2 | 64.1 | 60 |
| Vidya Wires Ltd | ₹97.6 | – | 2 | – | 75 |
| Indosolar Ltd | ₹391 | +68.5% | 2 | -10.7 | 0 |
| Hindusthan Insulators & Industries Ltd | ₹1,272 | +181.0% | 2 | 108.0 | – |
| Indo SMC Ltd | ₹395 | – | 2 | – | – |
| Prostarm Info Systems Ltd | ₹136 | −10.6% | 4 | -19.5 | 17 |
| Parth Electricals & Engineering Ltd | ₹422 | +99.7% | 2 | – | 0 |
Data as of 2026-07-01
Headwind chain: A sharp private-capex contraction (-60% QoQ / -59% YoY) cited repeatedly: Project Consultancy/Turnkey (Q2 private capex -60% QoQ, OUTFLOW), Power - Generation/Distribution (Q5 60% private-capex slump), Engineering… Also touches: Infra - Construction & Contracting, Project Consultancy/Turnkey, Capital Goods - Engineering General.triggermechanism
A sharp private-capex contraction (-60% QoQ / -59% YoY) cited repeatedly: Project Consultancy/Turnkey (Q2 private capex -60% QoQ, OUTFLOW), Power - Generation/Distribution (Q5 60% private-capex slump), Engineering - Turnkey Services (Q4 -59% YoY), Building Materials - Paints (Q4 private capex -60% QoQ).
Companies whose REVENUE is recognized off already-executed backlogs still print rising trailing earnings (a backward-looking tailwind), but the ORIGINATION pipeline that fills future backlogs is collapsing — so the forward feeder for consultancy/turnkey/engineering-general rolls over into a late-cycle margin squeeze even while current curves look healthy. A classic trailing-vs-forward split.
Research view from 2026-06-27
A breakdown is NOT underway: 91% of constituents still trade above their 200-day averages.breadth_series
- A breakdown is NOT underway: 91% of constituents still trade above their 200-day averages.
Data as of 2026-07-01
Straight answers from the data
What is the Electric Equipment - General sector?
The Electric Equipment - General sector groups 11 listed companies with a combined market value of ₹1,95,966 Cr, led by ABB India Ltd, Emmvee Photovoltaic Power Ltd, Fujiyama Power Systems Ltd. 10 of 11 constituents are currently in confirmed price uptrends.
Which stocks are in the Electric Equipment - General sector?
The largest Electric Equipment - General companies by market value are ABB India Ltd (₹1,47,647 Cr), Emmvee Photovoltaic Power Ltd (₹23,349 Cr), Fujiyama Power Systems Ltd (₹9,499 Cr), Saatvik Green Energy Ltd (₹6,042 Cr), Yash Highvoltage Ltd (₹2,509 Cr), Vidya Wires Ltd (₹2,077 Cr), Indosolar Ltd (₹1,666 Cr), Hindusthan Insulators & Industries Ltd (₹909 Cr).
What are the best-performing Electric Equipment - General stocks?
By 1-year price return as of 1 July 2026, the strongest Electric Equipment - General stocks are Hindusthan Insulators & Industries Ltd (+181%), Yash Highvoltage Ltd (+132%), Parth Electricals & Engineering Ltd (+100%), Indosolar Ltd (+69%), ABB India Ltd (+18%). These are descriptive price moves measured from weekly Screener closes, not recommendations.
Is the Electric Equipment - General sector in an uptrend?
10 of 11 Electric Equipment - General constituents are in Stage-2 price uptrends, 10 trade above their 200-day average, and 3 are beating the NIFTY 500 on relative strength. Sector relative strength reads 72.7, in the broadening quadrant of the rotation map, falling over a 12-week streak.
How many Electric Equipment - General stocks trade above their 200-day average?
10 of 11 Electric Equipment - General constituents currently trade above their 200-day moving average. Over the trailing ~20 weeks, that share moved from 64% to 91% — participation is widening.
Is the Electric Equipment - General sector expensive versus its own history?
The Electric Equipment - General sector trades at an aggregate P/E of 31.7× against a 31.7–4,385× band over its own history. The median constituent sits at the 60th percentile of its own 10-year P/E range, above the middle of its own historical range. Aggregate operating margin (16%) sits at the 91st percentile of its own annual history — a cheap-looking multiple on near-peak margins is only cheap if the margins hold.
Is money entering or leaving the Electric Equipment - General sector?
On Sector Alpha's deterministic capital-flow read, money is entering the Electric Equipment - General sector. Institutional (FII+DII) holdings moved +0.26 percentage points across constituents over the last four quarters, and constituents grew capex +30.0% year-on-year.
How fast is the Electric Equipment - General sector growing?
In the latest reported quarter (March 2026), Electric Equipment - General constituents together booked ₹8,669 Cr of revenue, +32.5% year-on-year, with aggregate profit +177.9% year-on-year. Figures aggregate Screener-scraped quarterly filings across the sector.
How are Electric Equipment - General operating margins trending?
Aggregate Electric Equipment - General operating margin was 16.6% in the latest reported quarter (March 2026), versus 19.1% a year earlier — margins are softening.
Which sectors is the Electric Equipment - General sector connected to?
The Electric Equipment - General sector sits in 1 cross-sector chain: as a potential casualty it connects to Infra - Construction & Contracting, Project Consultancy/Turnkey, Capital Goods - Engineering General — A sharp private-capex contraction (-60% QoQ / -59% YoY) cited repeatedly: Project Consultancy/Turnkey (Q2 private capex -60% QoQ, OUTFLOW), Power….
What is the bull case for the Electric Equipment - General sector?
ALMM List-2 cell mandate and a grid/RE capex supercycle are driving explosive solar-manufacturing growth, but peak-capex leverage and silver/copper margin squeeze make it a watch, not a chase. Sector aggregate PAT was negative every year 2015-2022 (bottoming -529 in 2019, still -55 in 2022) then inflected to profit: 1104 (2023), 2052 (2024), 2548 (2025).
What could change the view on the Electric Equipment - General sector?
Sector aggregate OPM rolls down from the 82nd-percentile peak as the capex supply flood lands (silver/copper-led gross-margin compression confirmed in the next 2-3 quarters) while ΣPAT growth stalls — that would turn the cheap-looking trailing PE into a confirmed peak-margin value trap rather than a mid-cycle earnings compounder, and the earnings-led durability call breaks. Also worth noting: a breakdown is NOT underway: 91% of constituents still trade above their 200-day averages.
What is the research view on the Electric Equipment - General sector?
Sector Alpha does not publish trading recommendations or price calls — this is a research read, not advice. What the data says: broken out mid · mixed. All three streams point up on the structural thesis, but they disagree on timing/price and on whether the capital cycle is friend or foe — hence mixed. CURVE: an earnings-led super-cycle (PAT -55 in 2022 to 2548 in 2025, OPM a durable ~16%) that has wrung out its froth (PE 851.6 to 31.7, -96.3%;. Every number on this page traces to its source column; it is machine-written research, not investment advice.
Should I invest in the Electric Equipment - General sector?
Sector Alpha does not publish sector allocations or trading calls — for Electric Equipment - General or any sector. What this page provides is a data-first read: how many constituents are in confirmed uptrends, how the sector's valuation compares with its own history, where earnings sit in their cycle, and whether capital is entering or leaving. Use it to study the sector on the evidence, then do your own diligence.
What is the Electric Equipment - General sector's relative-strength position?
Electric Equipment - General relative strength reads 72.7 on Sector Alpha's rotation map, placing it in the broadening quadrant. Relative strength is falling and has held for 12 weeks. A positive, rising relative-strength trend means the sector has been outperforming the broad market week after week.