# Electrical Equipments/HVDC — company-by-company sector analysis

> Electrical Equipments/HVDC: Siemens Energy India Ltd owns the largest revenue base; Quality Power Electrical Equipments Ltd has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-08-18. Not investment advice.

## Bottom line

Electrical Equipments/HVDC has outperformed NIFTY 500 by 61.9% over 52 weeks and 14.6% over 13 weeks. 5 of 5 covered companies beat NIFTY on Mansfield relative strength, while 2 of 5 beat the sector itself. Siemens Energy India Ltd leads with revenue of ₹9,437 crore, based on 6 of 6 comparable companies through Jun 2026.

## Sector relative strength

Electrical Equipments/HVDC has outperformed NIFTY 500 by 61.9% over the last 52 weeks. Over 13 weeks the gap is a lead of 14.6%. 5 of 5 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. GE Vernova T&D India Ltd is the strongest against the sector itself at +20.3%.

13-week sector return versus NIFTY 500: 15%
52-week sector return versus NIFTY 500: 62%
Stocks leading NIFTY: 5/5
Stocks leading sector: 2/5

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 6
Combined market value: ₹4.2 L Cr

## 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.

1. Hitachi Energy India Ltd (POWERINDIA): 64/100 — Mixed-positive evidence; evidence 79%
   - Growth & earnings 27.9/35 | Capital efficiency 15.6/25 | Valuation 8.5/20 | Relative strength 12.0/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 9 of the last 12 weeks
   - Exact sum: 27.9 + 15.6 + 8.5 + 12 = 64
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2. GE Vernova T&D India Ltd (GVT&D): 61/100 — Mixed-positive evidence; evidence 83%
   - Growth & earnings 21.1/35 | Capital efficiency 19.8/25 | Valuation 4.4/20 | Relative strength 15.4/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 5 of 10 weeks with a reading, within the last 12
   - Exact sum: 21.1 + 19.8 + 4.4 + 15.4 = 60.7
   - Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
3. Quality Power Electrical Equipments Ltd (QPOWER): 60/100 — Mixed-positive evidence; evidence 71%
   - Growth & earnings 25.3/35 | Capital efficiency 17.4/25 | Valuation 10.3/20 | Relative strength 7.3/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 8 of the last 12 weeks
   - Exact sum: 25.3 + 17.4 + 10.3 + 7.3 = 60.3
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4. Skipper Ltd (SKIPPER): 51/100 — Mixed-positive evidence; evidence 96%
   - Growth & earnings 14.4/35 | Capital efficiency 11.9/25 | Valuation 17.0/20 | Relative strength 7.8/20
   - Price stage: BREAKING OUT — Ahead of the benchmark five weeks or more running, with its lead holding or widening.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 12 of the last 12 weeks
   - Exact sum: 14.4 + 11.9 + 17 + 7.8 = 51.1
   - Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
5. Siemens Energy India Ltd (ENRIN): 50/100 — Mixed-positive evidence; evidence 83%
   - Growth & earnings 17.5/35 | Capital efficiency 16.4/25 | Valuation 9.5/20 | Relative strength 7.0/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 10 of the last 12 weeks
   - Exact sum: 17.5 + 16.4 + 9.5 + 7 = 50.4
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6. KSH International Ltd (KSHINTL): 49/100 — Mixed-negative evidence; evidence 69%
   - Growth & earnings 15.8/35 | Capital efficiency 7.6/25 | Valuation 15.9/20 | Relative strength 10.0/20
   - Price stage: BREAKING OUT — Ahead of the benchmark five weeks or more running, with its lead holding or widening.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 12 of the last 12 weeks
   - Exact sum: 15.8 + 7.6 + 15.9 + 10 = 49.3
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

## Market action

Hitachi Energy India Ltd has the strongest one-year price move in Electrical Equipments/HVDC at +75.9%. It also leads on Mansfield relative strength against NIFTY at +39%. 5 of 5 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-08-14.

### Strongest one-year price performers
1. Hitachi Energy India Ltd (POWERINDIA): 76%
2. Quality Power Electrical Equipments Ltd (QPOWER): 62%
3. GE Vernova T&D India Ltd (GVT&D): 55%
4. Siemens Energy India Ltd (ENRIN): 15%
5. Skipper Ltd (SKIPPER): 4.4%

### Strongest relative strength versus NIFTY 500
1. Hitachi Energy India Ltd (POWERINDIA): 39%
2. Quality Power Electrical Equipments Ltd (QPOWER): 27%
3. GE Vernova T&D India Ltd (GVT&D): 16%
4. Siemens Energy India Ltd (ENRIN): 11%
5. Skipper Ltd (SKIPPER): 10%

## Revenue Scale & Growth Durability

What the numbers say: Siemens Energy India Ltd is the scale leader at ₹9,437 crore, 3% ahead of Hitachi Energy India Ltd. Quality Power Electrical Equipments Ltd's growth is stored at the ≥100% scoring cap; the uncapped TTM change is 122.1% from a ₹1,004 crore base, with 11 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Siemens Energy India Ltd is the scale benchmark; Quality Power Electrical Equipments Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Siemens Energy India Ltd's growth falls below Quality Power Electrical Equipments Ltd's for two consecutive comparable reports while operating margin also compresses.

Evidence: Siemens Energy India Ltd · ₹9,437 crore | 3% versus #2 · Hitachi Energy India Ltd | 4/5 recent comparable periods | 6/6 companies · 87 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. Siemens Energy India Ltd (ENRIN): ₹9.4K Cr
2. Hitachi Energy India Ltd (POWERINDIA): ₹9.2K Cr
3. GE Vernova T&D India Ltd (GVT&D): ₹6.7K Cr
4. Skipper Ltd (SKIPPER): ₹5.6K Cr
5. KSH International Ltd (KSHINTL): ₹3.7K Cr

### Revenue growth — fastest growers
1. Quality Power Electrical Equipments Ltd (QPOWER): 100%
2. KSH International Ltd (KSHINTL): 81%
3. GE Vernova T&D India Ltd (GVT&D): 44%
4. Siemens Energy India Ltd (ENRIN): 42%
5. Hitachi Energy India Ltd (POWERINDIA): 40%

### 20-quarter Revenue history
- POWERINDIA: Dec 2021 ₹1.1K Cr | Mar 2022 ₹1.1K Cr | Jun 2022 ₹986 Cr | Sep 2022 ₹1.1K Cr | Dec 2022 ₹1.0K Cr | Mar 2023 ₹1.3K Cr | Jun 2023 ₹1.0K Cr | Sep 2023 ₹1.2K Cr | Dec 2023 ₹1.3K Cr | Mar 2024 ₹1.7K Cr | Jun 2024 ₹1.3K Cr | Sep 2024 ₹1.6K Cr | Dec 2024 ₹1.6K Cr | Feb 2025 — | Mar 2025 ₹1.9K Cr | Jun 2025 ₹1.5K Cr | Sep 2025 ₹1.8K Cr | Dec 2025 ₹2.1K Cr | Mar 2026 ₹2.8K Cr | Jun 2026 ₹2.5K Cr
- ENRIN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹0 Cr | Jun 2024 ₹1.5K Cr | Sep 2024 ₹4.5K Cr | Dec 2024 ₹1.5K Cr | Feb 2025 — | Mar 2025 ₹1.9K Cr | Jun 2025 ₹1.8K Cr | Sep 2025 ₹2.6K Cr | Dec 2025 ₹1.9K Cr | Mar 2026 ₹2.4K Cr | Jun 2026 ₹2.5K Cr
- GVT&D: Dec 2021 ₹914 Cr | Mar 2022 ₹662 Cr | Jun 2022 ₹593 Cr | Sep 2022 ₹701 Cr | Dec 2022 ₹777 Cr | Mar 2023 ₹703 Cr | Jun 2023 ₹718 Cr | Sep 2023 ₹698 Cr | Dec 2023 ₹839 Cr | Mar 2024 ₹914 Cr | Jun 2024 ₹958 Cr | Sep 2024 ₹1.1K Cr | Dec 2024 ₹1.1K Cr | Feb 2025 — | Mar 2025 ₹1.2K Cr | Jun 2025 ₹1.3K Cr | Sep 2025 ₹1.5K Cr | Dec 2025 ₹1.7K Cr | Mar 2026 ₹1.6K Cr | Jun 2026 ₹1.8K Cr
- QPOWER: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 ₹142 Cr | Mar 2024 ₹39 Cr | Jun 2024 ₹61 Cr | Sep 2024 ₹94 Cr | Dec 2024 ₹73 Cr | Feb 2025 — | Mar 2025 ₹108 Cr | Jun 2025 ₹177 Cr | Sep 2025 ₹206 Cr | Dec 2025 ₹284 Cr | Mar 2026 ₹281 Cr | Jun 2026 ₹233 Cr
- KSHINTL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 ₹452 Cr | Sep 2024 ₹472 Cr | Dec 2024 ₹516 Cr | Feb 2025 — | Mar 2025 ₹508 Cr | Jun 2025 ₹559 Cr | Sep 2025 ₹712 Cr | Dec 2025 ₹818 Cr | Mar 2026 ₹1.0K Cr | Jun 2026 ₹1.2K Cr
- SKIPPER: Dec 2021 ₹400 Cr | Mar 2022 ₹553 Cr | Jun 2022 ₹416 Cr | Sep 2022 ₹462 Cr | Dec 2022 ₹445 Cr | Mar 2023 ₹657 Cr | Jun 2023 ₹555 Cr | Sep 2023 ₹772 Cr | Dec 2023 ₹802 Cr | Mar 2024 ₹1.2K Cr | Jun 2024 ₹1.1K Cr | Sep 2024 ₹1.1K Cr | Dec 2024 ₹1.1K Cr | Feb 2025 — | Mar 2025 ₹1.3K Cr | Jun 2025 ₹1.3K Cr | Sep 2025 ₹1.3K Cr | Dec 2025 ₹1.4K Cr | Mar 2026 ₹1.7K Cr | Jun 2026 ₹1.3K Cr

### 20-quarter Revenue growth history
- POWERINDIA: Dec 2021 — | Mar 2022 — | Jun 2022 26% | Sep 2022 31% | Dec 2022 -7.9% | Mar 2023 20% | Jun 2023 5.5% | Sep 2023 10% | Dec 2023 23% | Mar 2024 27% | Jun 2024 28% | Sep 2024 27% | Dec 2024 27% | Feb 2025 — | Mar 2025 11% | Jun 2025 11% | Sep 2025 18% | Dec 2025 29% | Mar 2026 46% | Jun 2026 69%
- ENRIN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Feb 2025 — | Mar 2025 — | Jun 2025 20% | Sep 2025 -41% | Dec 2025 26% | Mar 2026 27% | Jun 2026 39%
- GVT&D: Dec 2021 — | Mar 2022 — | Jun 2022 -7.1% | Sep 2022 -18% | Dec 2022 -15% | Mar 2023 6.2% | Jun 2023 21% | Sep 2023 -0.4% | Dec 2023 8.0% | Mar 2024 30% | Jun 2024 33% | Sep 2024 59% | Dec 2024 28% | Feb 2025 — | Mar 2025 26% | Jun 2025 39% | Sep 2025 39% | Dec 2025 58% | Mar 2026 42% | Jun 2026 38%
- QPOWER: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 -49% | Feb 2025 — | Mar 2025 177% | Jun 2025 190% | Sep 2025 119% | Dec 2025 289% | Mar 2026 160% | Jun 2026 32%
- KSHINTL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Feb 2025 — | Mar 2025 — | Jun 2025 24% | Sep 2025 51% | Dec 2025 59% | Mar 2026 100% | Jun 2026 108%
- SKIPPER: Dec 2021 — | Mar 2022 — | Jun 2022 51% | Sep 2022 -3.6% | Dec 2022 11% | Mar 2023 19% | Jun 2023 33% | Sep 2023 67% | Dec 2023 80% | Mar 2024 76% | Jun 2024 97% | Sep 2024 44% | Dec 2024 42% | Feb 2025 — | Mar 2025 12% | Jun 2025 15% | Sep 2025 14% | Dec 2025 21% | Mar 2026 29% | Jun 2026 4.5%

## Operating Economics & Margin Trend

What the numbers say: GE Vernova T&D India Ltd leads opm at 25%; Siemens Energy India Ltd leads margin change at +5 percentage points.

Investor read: GE Vernova T&D India 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.

Evidence: GE Vernova T&D India Ltd · 25% | 4.2% versus #2 · Siemens Energy India Ltd | 7/8 recent comparable periods | 6/6 companies · 87 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. GE Vernova T&D India Ltd (GVT&D): 25%
2. Siemens Energy India Ltd (ENRIN): 24%
3. Quality Power Electrical Equipments Ltd (QPOWER): 18%
4. Hitachi Energy India Ltd (POWERINDIA): 15%
5. Skipper Ltd (SKIPPER): 11%

### Margin change — fastest expanders
1. Siemens Energy India Ltd (ENRIN): +5.0 pp
2. Hitachi Energy India Ltd (POWERINDIA): +5.0 pp
3. Skipper Ltd (SKIPPER): +1.0 pp
4. Quality Power Electrical Equipments Ltd (QPOWER): 0.0 pp
5. KSH International Ltd (KSHINTL): −1.0 pp

### 20-quarter OPM history
- POWERINDIA: Dec 2021 5.5% | Mar 2022 6.0% | Jun 2022 2.6% | Sep 2022 6.8% | Dec 2022 4.0% | Mar 2023 7.0% | Jun 2023 3.2% | Sep 2023 5.0% | Dec 2023 5.0% | Mar 2024 11% | Jun 2024 3.6% | Sep 2024 7.0% | Dec 2024 10% | Feb 2025 — | Mar 2025 13% | Jun 2025 10% | Sep 2025 16% | Dec 2025 17% | Mar 2026 15% | Jun 2026 15%
- ENRIN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 22% | Jun 2024 14% | Sep 2024 18% | Dec 2024 22% | Feb 2025 — | Mar 2025 19% | Jun 2025 19% | Sep 2025 18% | Dec 2025 24% | Mar 2026 21% | Jun 2026 24%
- GVT&D: Dec 2021 3.2% | Mar 2022 -24% | Jun 2022 3.8% | Sep 2022 0.8% | Dec 2022 6.0% | Mar 2023 4.0% | Jun 2023 7.0% | Sep 2023 9.0% | Dec 2023 12% | Mar 2024 12% | Jun 2024 19% | Sep 2024 18% | Dec 2024 17% | Feb 2025 — | Mar 2025 22% | Jun 2025 29% | Sep 2025 26% | Dec 2025 27% | Mar 2026 27% | Jun 2026 25%
- QPOWER: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 8.0% | Mar 2024 34% | Jun 2024 38% | Sep 2024 9.0% | Dec 2024 24% | Feb 2025 — | Mar 2025 15% | Jun 2025 18% | Sep 2025 18% | Dec 2025 28% | Mar 2026 11% | Jun 2026 18%
- KSHINTL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 4.6% | Sep 2024 6.0% | Dec 2024 8.0% | Feb 2025 — | Mar 2025 7.0% | Jun 2025 7.0% | Sep 2025 6.0% | Dec 2025 6.0% | Mar 2026 6.0% | Jun 2026 6.0%
- SKIPPER: Dec 2021 12% | Mar 2022 11% | Jun 2022 8.4% | Sep 2022 8.3% | Dec 2022 10% | Mar 2023 11% | Jun 2023 11% | Sep 2023 10% | Dec 2023 10% | Mar 2024 9.0% | Jun 2024 10% | Sep 2024 10% | Dec 2024 10% | Feb 2025 — | Mar 2025 10% | Jun 2025 10% | Sep 2025 10% | Dec 2025 10% | Mar 2026 10% | Jun 2026 11%

### 20-quarter Margin change history
- POWERINDIA: Dec 2021 −1.4 pp | Mar 2022 −1.3 pp | Jun 2022 −2.0 pp | Sep 2022 −1.8 pp | Dec 2022 −1.5 pp | Mar 2023 +1.1 pp | Jun 2023 +0.6 pp | Sep 2023 −1.8 pp | Dec 2023 +1.0 pp | Mar 2024 +4.0 pp | Jun 2024 +0.4 pp | Sep 2024 +2.0 pp | Dec 2024 +5.0 pp | Feb 2025 — | Mar 2025 +2.0 pp | Jun 2025 +6.4 pp | Sep 2025 +9.0 pp | Dec 2025 +7.0 pp | Mar 2026 +2.0 pp | Jun 2026 +5.0 pp
- ENRIN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Feb 2025 — | Mar 2025 −2.7 pp | Jun 2025 +5.0 pp | Sep 2025 +0.4 pp | Dec 2025 +2.0 pp | Mar 2026 +2.0 pp | Jun 2026 +5.0 pp
- GVT&D: Dec 2021 −2.4 pp | Mar 2022 −29.0 pp | Jun 2022 +3.6 pp | Sep 2022 −1.6 pp | Dec 2022 +2.8 pp | Mar 2023 +28.1 pp | Jun 2023 +3.2 pp | Sep 2023 +8.2 pp | Dec 2023 +6.0 pp | Mar 2024 +8.0 pp | Jun 2024 +12.0 pp | Sep 2024 +9.0 pp | Dec 2024 +5.0 pp | Feb 2025 — | Mar 2025 +10.0 pp | Jun 2025 +10.0 pp | Sep 2025 +8.0 pp | Dec 2025 +10.0 pp | Mar 2026 +5.0 pp | Jun 2026 −4.0 pp
- QPOWER: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 +16.0 pp | Feb 2025 — | Mar 2025 −19.0 pp | Jun 2025 −20.0 pp | Sep 2025 +9.0 pp | Dec 2025 +4.0 pp | Mar 2026 −4.0 pp | Jun 2026 0.0 pp
- KSHINTL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Feb 2025 — | Mar 2025 — | Jun 2025 +2.4 pp | Sep 2025 0.0 pp | Dec 2025 −2.0 pp | Mar 2026 −1.0 pp | Jun 2026 −1.0 pp
- SKIPPER: Dec 2021 +2.0 pp | Mar 2022 +2.5 pp | Jun 2022 +2.6 pp | Sep 2022 −0.2 pp | Dec 2022 −1.6 pp | Mar 2023 −0.1 pp | Jun 2023 +2.6 pp | Sep 2023 +1.7 pp | Dec 2023 0.0 pp | Mar 2024 −2.0 pp | Jun 2024 −1.0 pp | Sep 2024 0.0 pp | Dec 2024 0.0 pp | Feb 2025 — | Mar 2025 +1.0 pp | Jun 2025 0.0 pp | Sep 2025 0.0 pp | Dec 2025 0.0 pp | Mar 2026 0.0 pp | Jun 2026 +1.0 pp

## Profit Scale & Acceleration

What the numbers say: Siemens Energy India Ltd leads with ₹1,489 crore of TTM profit, 14.1% above GE Vernova T&D India Ltd. Hitachi Energy India Ltd shows ≥100% on the scoring scale (127.5% uncapped) growth from a ₹1,149 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Siemens Energy India 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.

Evidence: Siemens Energy India Ltd · ₹1,489 crore | 14.1% versus #2 · GE Vernova T&D India Ltd | 4/5 recent comparable periods | 6/6 companies · 87 observations

Definition: 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 profit — largest
1. Siemens Energy India Ltd (ENRIN): ₹1.5K Cr
2. GE Vernova T&D India Ltd (GVT&D): ₹1.3K Cr
3. Hitachi Energy India Ltd (POWERINDIA): ₹1.1K Cr
4. Skipper Ltd (SKIPPER): ₹225 Cr
5. Quality Power Electrical Equipments Ltd (QPOWER): ₹196 Cr

### Profit growth — fastest growers
1. Hitachi Energy India Ltd (POWERINDIA): 100%
2. Quality Power Electrical Equipments Ltd (QPOWER): 96%
3. GE Vernova T&D India Ltd (GVT&D): 71%
4. Siemens Energy India Ltd (ENRIN): 68%
5. KSH International Ltd (KSHINTL): 63%

### 20-quarter Net profit history
- POWERINDIA: Dec 2021 ₹62 Cr | Mar 2022 ₹52 Cr | Jun 2022 ₹1 Cr | Sep 2022 ₹37 Cr | Dec 2022 ₹5 Cr | Mar 2023 ₹51 Cr | Jun 2023 ₹2 Cr | Sep 2023 ₹25 Cr | Dec 2023 ₹23 Cr | Mar 2024 ₹114 Cr | Jun 2024 ₹10 Cr | Sep 2024 ₹52 Cr | Dec 2024 ₹137 Cr | Feb 2025 — | Mar 2025 ₹184 Cr | Jun 2025 ₹132 Cr | Sep 2025 ₹264 Cr | Dec 2025 ₹261 Cr | Mar 2026 ₹330 Cr | Jun 2026 ₹294 Cr
- ENRIN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹0 Cr | Jun 2024 ₹146 Cr | Sep 2024 ₹574 Cr | Dec 2024 ₹232 Cr | Feb 2025 — | Mar 2025 ₹246 Cr | Jun 2025 ₹263 Cr | Sep 2025 ₹360 Cr | Dec 2025 ₹313 Cr | Mar 2026 ₹375 Cr | Jun 2026 ₹441 Cr
- GVT&D: Dec 2021 ₹0 Cr | Mar 2022 ₹-23 Cr | Jun 2022 ₹6 Cr | Sep 2022 ₹3 Cr | Dec 2022 ₹5 Cr | Mar 2023 ₹-15 Cr | Jun 2023 ₹28 Cr | Sep 2023 ₹37 Cr | Dec 2023 ₹49 Cr | Mar 2024 ₹66 Cr | Jun 2024 ₹135 Cr | Sep 2024 ₹145 Cr | Dec 2024 ₹143 Cr | Feb 2025 — | Mar 2025 ₹186 Cr | Jun 2025 ₹291 Cr | Sep 2025 ₹299 Cr | Dec 2025 ₹291 Cr | Mar 2026 ₹352 Cr | Jun 2026 ₹363 Cr
- QPOWER: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 ₹14 Cr | Mar 2024 ₹18 Cr | Jun 2024 ₹33 Cr | Sep 2024 ₹13 Cr | Dec 2024 ₹20 Cr | Feb 2025 — | Mar 2025 ₹30 Cr | Jun 2025 ₹37 Cr | Sep 2025 ₹35 Cr | Dec 2025 ₹63 Cr | Mar 2026 ₹51 Cr | Jun 2026 ₹47 Cr
- KSHINTL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 ₹12 Cr | Sep 2024 ₹13 Cr | Dec 2024 ₹26 Cr | Feb 2025 — | Mar 2025 ₹18 Cr | Jun 2025 ₹23 Cr | Sep 2025 ₹30 Cr | Dec 2025 ₹23 Cr | Mar 2026 ₹35 Cr | Jun 2026 ₹42 Cr
- SKIPPER: Dec 2021 ₹7 Cr | Mar 2022 ₹25 Cr | Jun 2022 ₹-1 Cr | Sep 2022 ₹3 Cr | Dec 2022 ₹10 Cr | Mar 2023 ₹24 Cr | Jun 2023 ₹16 Cr | Sep 2023 ₹20 Cr | Dec 2023 ₹20 Cr | Mar 2024 ₹25 Cr | Jun 2024 ₹32 Cr | Sep 2024 ₹33 Cr | Dec 2024 ₹36 Cr | Feb 2025 — | Mar 2025 ₹48 Cr | Jun 2025 ₹45 Cr | Sep 2025 ₹37 Cr | Dec 2025 ₹53 Cr | Mar 2026 ₹78 Cr | Jun 2026 ₹57 Cr

### 20-quarter Profit growth history
- POWERINDIA: Dec 2021 — | Mar 2022 — | Jun 2022 -94% | Sep 2022 8.8% | Dec 2022 -92% | Mar 2023 -1.9% | Jun 2023 100% | Sep 2023 -32% | Dec 2023 360% | Mar 2024 124% | Jun 2024 400% | Sep 2024 108% | Dec 2024 496% | Feb 2025 — | Mar 2025 61% | Jun 2025 1,220% | Sep 2025 408% | Dec 2025 91% | Mar 2026 79% | Jun 2026 123%
- ENRIN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Feb 2025 — | Mar 2025 — | Jun 2025 80% | Sep 2025 -37% | Dec 2025 35% | Mar 2026 52% | Jun 2026 68%
- GVT&D: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 367% | Sep 2023 1,133% | Dec 2023 880% | Mar 2024 — | Jun 2024 382% | Sep 2024 292% | Dec 2024 192% | Feb 2025 — | Mar 2025 182% | Jun 2025 116% | Sep 2025 106% | Dec 2025 104% | Mar 2026 89% | Jun 2026 25%
- QPOWER: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 43% | Feb 2025 — | Mar 2025 67% | Jun 2025 12% | Sep 2025 169% | Dec 2025 215% | Mar 2026 70% | Jun 2026 27%
- KSHINTL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Feb 2025 — | Mar 2025 — | Jun 2025 92% | Sep 2025 131% | Dec 2025 -12% | Mar 2026 94% | Jun 2026 83%
- SKIPPER: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 0.0% | Dec 2022 43% | Mar 2023 -4.0% | Jun 2023 — | Sep 2023 567% | Dec 2023 100% | Mar 2024 4.2% | Jun 2024 100% | Sep 2024 65% | Dec 2024 80% | Feb 2025 — | Mar 2025 92% | Jun 2025 41% | Sep 2025 12% | Dec 2025 47% | Mar 2026 63% | Jun 2026 27%

## Return On Capital Employed

What the numbers say: GE Vernova T&D India Ltd leads ROCE at 76.4%, 8.6 percentage points above Siemens Energy India Ltd. GE Vernova T&D India Ltd has the strongest latest improvement at +9.4 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: GE Vernova T&D India 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.

Evidence: GE Vernova T&D India Ltd · 76.4% | 12.7% versus #2 · Siemens Energy India Ltd | 8/8 recent comparable periods | 6/6 companies · 56 observations

Definition: 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.

### ROCE — highest
1. GE Vernova T&D India Ltd (GVT&D): 76%
2. Siemens Energy India Ltd (ENRIN): 68%
3. Quality Power Electrical Equipments Ltd (QPOWER): 32%
4. Hitachi Energy India Ltd (POWERINDIA): 29%
5. Skipper Ltd (SKIPPER): 23%

### ROCE change — fastest improvers
1. GE Vernova T&D India Ltd (GVT&D): +9.4 pp
2. Hitachi Energy India Ltd (POWERINDIA): +7.0 pp
3. Quality Power Electrical Equipments Ltd (QPOWER): +5.0 pp
4. Skipper Ltd (SKIPPER): −2.0 pp
5. KSH International Ltd (KSHINTL): −5.6 pp

### 20-quarter ROCE history
- POWERINDIA: Dec 2021 — | Mar 2022 14% | Jun 2022 — | Sep 2022 13% | Dec 2022 — | Mar 2023 15% | Jun 2023 — | Sep 2023 14% | Dec 2023 15% | Mar 2024 18% | Jun 2024 21% | Sep 2024 21% | Dec 2024 34% | Feb 2025 — | Mar 2025 11% | Jun 2025 25% | Sep 2025 17% | Dec 2025 37% | Mar 2026 22% | Jun 2026 32%
- ENRIN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 33% | Dec 2024 — | Feb 2025 — | Mar 2025 36% | Jun 2025 — | Sep 2025 28% | Dec 2025 36% | Mar 2026 29% | Jun 2026 39%
- GVT&D: Dec 2021 — | Mar 2022 -13% | Jun 2022 — | Sep 2022 -8.9% | Dec 2022 — | Mar 2023 8.2% | Jun 2023 — | Sep 2023 13% | Dec 2023 16% | Mar 2024 21% | Jun 2024 33% | Sep 2024 37% | Dec 2024 49% | Feb 2025 — | Mar 2025 42% | Jun 2025 65% | Sep 2025 54% | Dec 2025 79% | Mar 2026 58% | Jun 2026 75%
- KSHINTL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 21% | Feb 2025 — | Mar 2025 26% | Jun 2025 33% | Sep 2025 30% | Dec 2025 38% | Mar 2026 20% | Jun 2026 —
- SKIPPER: Dec 2021 — | Mar 2022 11% | Jun 2022 — | Sep 2022 12% | Dec 2022 — | Mar 2023 12% | Jun 2023 — | Sep 2023 17% | Dec 2023 23% | Mar 2024 19% | Jun 2024 26% | Sep 2024 24% | Dec 2024 31% | Feb 2025 — | Mar 2025 24% | Jun 2025 29% | Sep 2025 22% | Dec 2025 28% | Mar 2026 22% | Jun 2026 —

### 20-quarter ROCE change history
- POWERINDIA: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 +0.8 pp | Jun 2023 — | Sep 2023 +0.9 pp | Dec 2023 — | Mar 2024 +3.8 pp | Jun 2024 — | Sep 2024 +7.4 pp | Dec 2024 +19.4 pp | Feb 2025 — | Mar 2025 −9.9 pp | Jun 2025 +4.0 pp | Sep 2025 −17.3 pp | Dec 2025 — | Mar 2026 +10.7 pp | Jun 2026 +7.0 pp
- ENRIN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Feb 2025 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 −7.3 pp | Jun 2026 —
- GVT&D: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 +21.0 pp | Jun 2023 — | Sep 2023 +22.2 pp | Dec 2023 — | Mar 2024 +13.2 pp | Jun 2024 — | Sep 2024 +23.4 pp | Dec 2024 +33.3 pp | Feb 2025 — | Mar 2025 +8.5 pp | Jun 2025 +28.6 pp | Sep 2025 +4.8 pp | Dec 2025 — | Mar 2026 +15.8 pp | Jun 2026 +9.4 pp
- KSHINTL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Feb 2025 — | Mar 2025 — | Jun 2025 — | Sep 2025 +8.8 pp | Dec 2025 — | Mar 2026 −5.6 pp | Jun 2026 —
- SKIPPER: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 +1.0 pp | Jun 2023 — | Sep 2023 +5.3 pp | Dec 2023 — | Mar 2024 +6.7 pp | Jun 2024 — | Sep 2024 +6.9 pp | Dec 2024 +8.3 pp | Feb 2025 — | Mar 2025 −1.7 pp | Jun 2025 +4.8 pp | Sep 2025 −9.0 pp | Dec 2025 — | Mar 2026 −2.0 pp | Jun 2026 —

## Valuation Against Growth & Quality

What the numbers say: KSH International Ltd has the lowest comparable PEG at 0.48×, 15.8% below Skipper Ltd. Only 4 of 6 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

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.

Evidence: KSH International Ltd · 0.48× | 15.8% versus #2 · Skipper Ltd | 0/3 recent comparable periods | 4/6 companies · 12 observations

Definition: 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 feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

### PEG — lowest PEG
1. KSH International Ltd (KSHINTL): 0.5
2. Skipper Ltd (SKIPPER): 0.6
3. Siemens Energy India Ltd (ENRIN): 1.7
4. GE Vernova T&D India Ltd (GVT&D): 3.2

### P/E — lowest P/E
1. Skipper Ltd (SKIPPER): 25.5
2. KSH International Ltd (KSHINTL): 53.2
3. Quality Power Electrical Equipments Ltd (QPOWER): 72.6
4. Siemens Energy India Ltd (ENRIN): 82.5
5. GE Vernova T&D India Ltd (GVT&D): 82.5

### 20-quarter PEG history
- POWERINDIA: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 45.2 | Jun 2024 — | Sep 2024 — | Dec 2024 — | Feb 2025 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 17.3 | Jun 2026 —
- ENRIN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Feb 2025 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 2.2 | Mar 2026 1.7 | Jun 2026 —
- KSHINTL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Feb 2025 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 0.5 | Jun 2026 —
- SKIPPER: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 0.5 | Dec 2022 — | Mar 2023 — | Jun 2023 1.3 | Sep 2023 0.9 | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Feb 2025 — | Mar 2025 0.7 | Jun 2025 — | Sep 2025 — | Dec 2025 0.7 | Mar 2026 0.4 | Jun 2026 0.6

### 20-quarter P/E history
- POWERINDIA: Dec 2021 85.3 | Mar 2022 113.3 | Jun 2022 97.0 | Sep 2022 120.7 | Dec 2022 113.2 | Mar 2023 149.5 | Jun 2023 187.6 | Sep 2023 183.0 | Dec 2023 270.2 | Mar 2024 292.8 | Jun 2024 334.1 | Sep 2024 336.7 | Dec 2024 312.3 | Feb 2025 — | Mar 2025 170.9 | Jun 2025 225.4 | Sep 2025 221.6 | Dec 2025 212.8 | Mar 2026 286.2 | Jun 2026 393.8
- ENRIN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Feb 2025 — | Mar 2025 — | Jun 2025 80.6 | Sep 2025 111.1 | Dec 2025 77.2 | Mar 2026 88.0 | Jun 2026 97.3
- GVT&D: Dec 2021 87.3 | Mar 2022 80.8 | Jun 2022 -104.1 | Sep 2022 -236.4 | Dec 2022 -341.8 | Mar 2023 — | Jun 2023 273.7 | Sep 2023 675.5 | Dec 2023 289.3 | Mar 2024 245.2 | Jun 2024 211.0 | Sep 2024 151.8 | Dec 2024 132.8 | Feb 2025 — | Mar 2025 81.8 | Jun 2025 98.3 | Sep 2025 97.3 | Dec 2025 85.5 | Mar 2026 85.8 | Jun 2026 100.9
- QPOWER: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Feb 2025 — | Mar 2025 61.6 | Jun 2025 132.4 | Sep 2025 113.6 | Dec 2025 67.7 | Mar 2026 58.3 | Jun 2026 80.1
- KSHINTL: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Feb 2025 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 29.9 | Mar 2026 27.3 | Jun 2026 52.5
- SKIPPER: Dec 2021 63.1 | Mar 2022 68.9 | Jun 2022 23.3 | Sep 2022 23.3 | Dec 2022 40.8 | Mar 2023 29.2 | Jun 2023 52.2 | Sep 2023 46.6 | Dec 2023 36.4 | Mar 2024 45.5 | Jun 2024 48.5 | Sep 2024 53.9 | Dec 2024 55.8 | Feb 2025 — | Mar 2025 38.9 | Jun 2025 37.7 | Sep 2025 35.6 | Dec 2025 27.4 | Mar 2026 20.6 | Jun 2026 27.2


## What can make this comparison misleading?
- 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 is 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.

## Every company
- Hitachi Energy India Ltd (POWERINDIA) — market value ₹1.6 L Cr; latest fundamentals Jun 2026
- Siemens Energy India Ltd (ENRIN) — market value ₹1.3 L Cr; latest fundamentals Jun 2026
- GE Vernova T&D India Ltd (GVT&D) — market value ₹1.1 L Cr; latest fundamentals Jun 2026
- Quality Power Electrical Equipments Ltd (QPOWER) — market value ₹9.7K Cr; latest fundamentals Jun 2026; second-feed figures WITHHELD
- KSH International Ltd (KSHINTL) — market value ₹7.0K Cr; latest fundamentals Jun 2026
- Skipper Ltd (SKIPPER) — market value ₹5.9K Cr; latest fundamentals Jun 2026

## Source standing of each company

Cross-checked: 5. Unverified: 0. Withheld: 1. Graded companies: 6.

1 of 6 companies has a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Quality Power Electrical Equipments Ltd (QPOWER) — its two data sources disagree by up to 37% on reported income across 10 comparable periods, so its derived ratios are withheld.

- WITHHELD | QPOWER | Quality Power Electrical Equipments Ltd | diff_gt_2pct | disagreement up to 37.42% over 10 comparable periods

## Methodology and freshness

Fundamentals through Jun 2026; prices through 2026-08-14.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### Is the Electrical Equipments/HVDC sector outperforming NIFTY 500?

Electrical Equipments/HVDC has outperformed NIFTY 500 by 61.9% over 52 weeks and 14.6% over 13 weeks. 5 of 5 covered companies beat NIFTY on Mansfield relative strength, while 2 of 5 beat the sector itself.

### Which Electrical Equipments/HVDC company is largest by revenue?

Siemens Energy India Ltd leads with revenue of ₹9,437 crore, based on 6 of 6 comparable companies through Jun 2026.

### Which Electrical Equipments/HVDC company is growing fastest?

Quality Power Electrical Equipments Ltd has the fastest current revenue growth at 100%, across 6 of 6 comparable companies.

### Which Electrical Equipments/HVDC company has the strongest 4-Factor Sector Score?

Hitachi Energy India Ltd ranks first at 64/100 with 78.6% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Electrical Equipments/HVDC company has the lowest comparable PEG?

KSH International Ltd has the lowest comparable PEG at 0.48, among 4 of 6 companies whose earnings and growth are steady enough for the ratio to mean anything.

### How much history does this Electrical Equipments/HVDC comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns 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.

### Is there a Nifty Electrical Equipments/HVDC index?

NSE India maintains Nifty indices for several broad sector categories — Nifty Bank, Nifty IT, Nifty Pharma and others — but not for every sub-sector grouping on this site. Whether or not an official Nifty index covers Electrical Equipments/HVDC, this page builds its own equal-weight basket of 6 listed Electrical Equipments/HVDC companies — one company, one vote, regardless of market value — so no single large company dominates the reading. Figures are as of Jun 2026.

### Which are the best Electrical Equipments/HVDC stocks in India?

Ranked by this page's four-factor score, Hitachi Energy India Ltd places first among 6 listed Electrical Equipments/HVDC companies, followed by GE Vernova T&D 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 Electrical Equipments/HVDC stocks are listed in India?

This comparison covers 6 listed Electrical Equipments/HVDC 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 Electrical Equipments/HVDC company is the biggest?

Siemens Energy India Ltd is the largest, with trailing-twelve-month revenue of ₹9,437 crore, ahead of Hitachi Energy India Ltd at ₹9,163 crore. That covers 6 of 6 companies with comparable reporting through Jun 2026.

### Which Electrical Equipments/HVDC company has the best profit margins?

GE Vernova T&D India Ltd has the highest operating margin at 25%, from 6 of 6 comparable companies. Siemens Energy India Ltd shows the biggest recent improvement, at +5 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Electrical Equipments/HVDC company makes the most profit?

Siemens Energy India Ltd earns the most, at ₹1,489 crore of trailing-twelve-month net profit, from 6 of 6 comparable companies. Hitachi Energy India Ltd has the fastest profit growth at the ≥100% scoring cap, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Electrical Equipments/HVDC company earns the highest return on capital?

GE Vernova T&D India Ltd leads on return on capital employed at 76.4%, across 6 of 6 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 Electrical Equipments/HVDC stock is the cheapest?

On PEG — where a LOWER number is cheaper — KSH International Ltd screens cheapest at 0.48×. Only 4 of 6 companies have earnings and growth steady enough for the ratio to mean anything, 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.

### Is the Electrical Equipments/HVDC sector beating the market?

Electrical Equipments/HVDC has outperformed NIFTY 500 by 61.9% over the last 52 weeks and 14.6% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 5 of 5 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which Electrical Equipments/HVDC stock has the strongest price momentum?

Hitachi Energy India 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 Electrical Equipments/HVDC company scores highest for research priority?

Hitachi Energy India Ltd scores 64 out of 100 with 78.6% evidence confidence, from 27.9 points on growth and earnings, 15.6 on capital efficiency, 8.5 on valuation and 12 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 Electrical Equipments/HVDC companies does this comparison cover, and over what period?

It compares 6 listed companies over up to 20 reported quarters of fundamentals, 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 Electrical Equipments/HVDC sector?

The 6 Electrical Equipments/HVDC companies on this page carry ₹4,19,017 crore of combined market value. Hitachi Energy India Ltd is the largest at ₹1,59,123 crore, about 38% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-18.

### What is the Electrical Equipments/HVDC sector's P/E ratio?

The median price-to-earnings ratio across the 6 Electrical Equipments/HVDC companies on this page is 82.5×, measured on the 6 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 2026-08-18.

### How is the Electrical Equipments/HVDC sector performing?

5 of the 5 covered Electrical Equipments/HVDC companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 61.9% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-18.

### 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.