Sector Alpha Week of 2026-08-18
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.

01 · the index people search for

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.

02 · the sector itself · before any single company

How has Power - Generation/Distribution moved against NIFTY 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 19% behind NIFTY 500. Earnings across its companies grew 6% on average over the last four reported quarters — close to flat.

ASLEEP · 1y −8.6%~Price down, no fundamental support1 of 20 companies ahead of NIFTY 500 by 5% or more over three months2 are 20% or more behind over a year while earnings grew 20% or more

RS — · 7/20 >200d (−1) · 1/20 lead (−2) · EPS 10/20↑

200500100020262025202420232022 758324 TRAILING 12-MONTH EPS · 100 AT THE START0100122Jun 23Dec 23Jun 24Dec 24Jun 25Dec 25Jun 26Mar 2023 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 5 reporting · thin coverageJun 2023 · trailing 12-month earnings per share at 103, against 100 at the start · up 6.6% on a year ago · 6 reporting · thin coverageSep 2023 · trailing 12-month earnings per share at 100, against 100 at the start · up 7.3% on a year ago · 15 reportingDec 2023 · trailing 12-month earnings per share at 102, against 100 at the start · up 10.7% on a year ago · 15 reportingMar 2024 · trailing 12-month earnings per share at 99, against 100 at the start · up 5.2% on a year ago · 15 reportingJun 2024 · trailing 12-month earnings per share at 105, against 100 at the start · up 5.9% on a year ago · 15 reportingSep 2024 · trailing 12-month earnings per share at 102, against 100 at the start · down 1.6% on a year ago · 16 reportingDec 2024 · trailing 12-month earnings per share at 105, against 100 at the start · up 2.7% on a year ago · 16 reportingMar 2025 · trailing 12-month earnings per share at 113, against 100 at the start · up 5.6% on a year ago · 16 reportingJun 2025 · trailing 12-month earnings per share at 122, against 100 at the start · down 2.2% on a year ago · 16 reportingSep 2025 · trailing 12-month earnings per share at 121, against 100 at the start · up 2.9% on a year ago · 16 reportingDec 2025 · trailing 12-month earnings per share at 112, against 100 at the start · up 5.5% on a year ago · 16 reportingMar 2026 · trailing 12-month earnings per share at 112, against 100 at the start · up 10.6% on a year ago · 16 reportingJun 2026 · trailing 12-month earnings per share at 116, against 100 at the start · up 3.6% on a year ago · 15 reportingNot reported yet — earnings trail price by a quarter or two116No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
200500100020262025202420232022 758324 TRAILING 12-MONTH EPS · 100 AT THE START0100122Jun 23Jun 24Jun 25Jun 26Mar 2023 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 5 reporting · thin coverageJun 2023 · trailing 12-month earnings per share at 103, against 100 at the start · up 6.6% on a year ago · 6 reporting · thin coverageSep 2023 · trailing 12-month earnings per share at 100, against 100 at the start · up 7.3% on a year ago · 15 reportingDec 2023 · trailing 12-month earnings per share at 102, against 100 at the start · up 10.7% on a year ago · 15 reportingMar 2024 · trailing 12-month earnings per share at 99, against 100 at the start · up 5.2% on a year ago · 15 reportingJun 2024 · trailing 12-month earnings per share at 105, against 100 at the start · up 5.9% on a year ago · 15 reportingSep 2024 · trailing 12-month earnings per share at 102, against 100 at the start · down 1.6% on a year ago · 16 reportingDec 2024 · trailing 12-month earnings per share at 105, against 100 at the start · up 2.7% on a year ago · 16 reportingMar 2025 · trailing 12-month earnings per share at 113, against 100 at the start · up 5.6% on a year ago · 16 reportingJun 2025 · trailing 12-month earnings per share at 122, against 100 at the start · down 2.2% on a year ago · 16 reportingSep 2025 · trailing 12-month earnings per share at 121, against 100 at the start · up 2.9% on a year ago · 16 reportingDec 2025 · trailing 12-month earnings per share at 112, against 100 at the start · up 5.5% on a year ago · 16 reportingMar 2026 · trailing 12-month earnings per share at 112, against 100 at the start · up 10.6% on a year ago · 16 reportingJun 2026 · trailing 12-month earnings per share at 116, against 100 at the start · up 3.6% on a year ago · 15 reportingNot reported yet — earnings trail price by a quarter or twoNo earnings on file this far back — the price series reaches further than the filings do
Power - Generation/Distribution, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling

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.

03 · sector relative strength, before individual stocks

Is Power - Generation/Distribution outperforming NIFTY 500?

Power - Generation/Distribution has underperformed NIFTY 500 by 11.1% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 12.1%. 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 +26.7%.

-12.1%Sector vs NIFTY 500 · 13 weeks
-11.1%Sector vs NIFTY 500 · 52 weeks
5/20Stocks leading NIFTY 500
9/20Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

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

Power - Generation/Distribution has underperformed NIFTY 500 by 11.1% over 52 weeks and 12.1% over 13 weeks. 5 of 20 covered companies beat NIFTY on Mansfield relative strength, while 9 of 20 beat the sector itself. NTPC Ltd leads with revenue of ₹1,91,059 crore, based on 20 of 20 comparable companies through Jun 2026.

Companies
20
complete canonical membership
Combined market value
₹15.2 L Cr
Adani Power Ltd
Revenue growing
18/20
positive TTM year-on-year growth
Beating NIFTY 500
5/20
positive Mansfield relative strength
Comparing 5 of 20
04 · research priority, made explicit

Best Power - Generation/Distribution Stocks in India (Aug 2026), Ranked by Data

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%
JSW Energy Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 82.3% evidence confidence.
Adani Power Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.
How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

Top 10 Power - Generation/Distribution Stocks in India

CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1JSW Energy LtdJSWENERGY 62.3/100Mixed-positive evidence82% evidence TURNING 22.6/35 Revenue 35.4% · PAT 7.7% · OPM change 1 pp 95% evidence 14.0/25 ROCE 8.2% · OPM 55% 76% evidence 6.8/20 P/E 51.2× · PEG — 50% evidence 18.9/20 RS sector 13.5% · RS bench 5.4% · 1Y 8%5 of 12 weeks ahead 100% evidence
Exact sum: 22.6 + 14 + 6.8 + 18.9 = 62.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2Mac Charles (India) Ltd507836 61.3/100Mixed-positive evidence61% evidence 25.8/35 Revenue 100% · PAT -8.4% · OPM change 547 pp 62% evidence 7.7/25 ROCE 5.4% · OPM 76% 76% evidence 10.0/20 P/E — · PEG — 0% evidence 17.8/20 RS sector 6.7% · RS bench 4.9% · 1Y -0.6%4 of 6 weeks ahead to 2026-07-05 100% evidence
Exact sum: 25.8 + 7.7 + 10 + 17.8 = 61.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Gujarat Industries Power Co LtdGIPCL 58.7/100Mixed-positive evidence94% evidence TURNING 28.8/35 Revenue 23.7% · PAT 100% · OPM change 18 pp 100% evidence 9.0/25 ROCE 5.5% · OPM 48% 100% evidence 12.0/20 P/E 5.4× · PEG 2.48 100% evidence 8.9/20 RS sector -15.4% · RS bench 8.3% · 1Y -9%6 of 10 weeks ahead 70% evidence
Exact sum: 28.8 + 9 + 12 + 8.9 = 58.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4CESC LtdCESC 57.3/100Mixed-positive evidence82% evidence ASLEEP 17.7/35 Revenue 8.7% · PAT 12.9% · OPM change -1 pp 95% evidence 14.6/25 ROCE 10.6% · OPM 16% 76% evidence 10.7/20 P/E 14.3× · PEG — 50% evidence 14.3/20 RS sector 6.6% · RS bench -1.1% · 1Y 2.8%3 of 12 weeks ahead 100% evidence
Exact sum: 17.7 + 14.6 + 10.7 + 14.3 = 57.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Adani Power LtdADANIPOWER 56.5/100Mixed-positive evidence100% evidence FADING 16.3/35 Revenue 6.6% · PAT 19.7% · OPM change 2 pp 100% evidence 17.7/25 ROCE 17.2% · OPM 42% 100% evidence 8.5/20 P/E 27.8× · PEG 1.83 100% evidence 14.0/20 RS sector 26.7% · RS bench 17.4% · 1Y 77.9%8 of 12 weeks ahead 100% evidence
Exact sum: 16.3 + 17.7 + 8.5 + 14 = 56.5 · Decision use: Price leads the evidence: RS versus the benchmark is 17.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
6NLC India LtdNLCINDIA 55.5/100Mixed-positive evidence82% evidence ASLEEP 21.4/35 Revenue 16.9% · PAT 12.8% · OPM change 7 pp 95% evidence 13.6/25 ROCE 10.4% · OPM 31% 76% evidence 10.5/20 P/E 11.9× · PEG — 50% evidence 10.0/20 RS sector 4.9% · RS bench -2.7% · 1Y 18.5%7 of 12 weeks ahead 100% evidence
Exact sum: 21.4 + 13.6 + 10.5 + 10 = 55.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Adani Green Energy LtdADANIGREEN 55.3/100Mixed-positive evidence75% evidence FADING 17.1/35 Revenue 11% · PAT -2.3% · OPM change 10 pp 95% evidence 14.3/25 ROCE 7.4% · OPM 90% 76% evidence 8.9/20 P/E 115× · PEG — 15% evidence 15.0/20 RS sector 26.7% · RS bench 17.4% · 1Y 47.5%10 of 12 weeks ahead 100% evidence
Exact sum: 17.1 + 14.3 + 8.9 + 15 = 55.3 · Decision use: Price leads the evidence: RS versus the benchmark is 17.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
8KPI Green Energy LtdKPIGREEN 54.5/100Mixed-positive evidence82% evidence ASLEEP 21.1/35 Revenue 40% · PAT 33.2% · OPM change 1 pp 95% evidence 17.4/25 ROCE 13.8% · OPM 35% 76% evidence 14.3/20 P/E 13.8× · PEG — 50% evidence 1.7/20 RS sector -21.4% · RS bench -27.2% · 1Y -37%2 of 12 weeks ahead 100% evidence
Exact sum: 21.1 + 17.4 + 14.3 + 1.7 = 54.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9NHPC LtdNHPC 51.9/100Mixed-positive evidence100% evidence BASING 23.7/35 Revenue 12% · PAT 24% · OPM change 6 pp 100% evidence 9.5/25 ROCE 5.8% · OPM 62% 100% evidence 5.3/20 P/E 20.4× · PEG 3.32 100% evidence 13.4/20 RS sector 2.3% · RS bench -5% · 1Y -6%0 of 12 weeks ahead 100% evidence
Exact sum: 23.7 + 9.5 + 5.3 + 13.4 = 51.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10NTPC LtdNTPC 51.4/100Mixed-positive evidence82% evidence ASLEEP 17.4/35 Revenue 2.4% · PAT 15.4% · OPM change 5 pp 95% evidence 14.0/25 ROCE 8.9% · OPM 32% 76% evidence 12.2/20 P/E 11.9× · PEG — 50% evidence 7.8/20 RS sector 1.2% · RS bench -5.9% · 1Y 1.6%0 of 12 weeks ahead 100% evidence
Exact sum: 17.4 + 14 + 12.2 + 7.8 = 51.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11SJVN LtdSJVN 47.7/100Mixed-negative evidence90% evidence ASLEEP 17.3/35 Revenue 60.5% · PAT -7.3% · OPM change -16 pp 95% evidence 9.3/25 ROCE 5.6% · OPM 61% 95% evidence 14.4/20 P/E 41.3× · PEG 0.29 65% evidence 6.7/20 RS sector -8.5% · RS bench -15.3% · 1Y -27%0 of 12 weeks ahead 100% evidence
Exact sum: 17.3 + 9.3 + 14.4 + 6.7 = 47.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12Tata Power Company LtdTATAPOWER 45.6/100Mixed-negative evidence100% evidence ASLEEP 13.0/35 Revenue -4.2% · PAT 8.4% · OPM change 0 pp 100% evidence 14.2/25 ROCE 10.5% · OPM 20% 100% evidence 5.5/20 P/E 31.2× · PEG 4.63 100% evidence 12.9/20 RS sector 3.4% · RS bench -4% · 1Y 0.9%1 of 12 weeks ahead 100% evidence
Exact sum: 13 + 14.2 + 5.5 + 12.9 = 45.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13Jaiprakash Power Ventures LtdJPPOWER 42.4/100Mixed-negative evidence77% evidence ASLEEP 11.9/35 Revenue 8.8% · PAT -13.7% · OPM change 5 pp 100% evidence 9.8/25 ROCE 7% · OPM 43% 100% evidence 10.7/20 P/E 14.3× · PEG — 15% evidence 10.0/20 RS sector -0.2% · RS bench -3% · 1Y -9.2%4 of 10 weeks ahead 70% evidence
Exact sum: 11.9 + 9.8 + 10.7 + 10 = 42.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
14NTPC Green Energy LtdNTPCGREEN 40.7/100Mixed-negative evidence93% evidence BASING 20.6/35 Revenue 42.1% · PAT 8.8% · OPM change 0 pp 100% evidence 9.5/25 ROCE 3.6% · OPM 89% 100% evidence 3.7/20 P/E 128× · PEG 4.9 65% evidence 6.9/20 RS sector -0.3% · RS bench -7.6% · 1Y -9.7%2 of 12 weeks ahead 100% evidence
Exact sum: 20.6 + 9.5 + 3.7 + 6.9 = 40.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
15Torrent Power LtdTORNTPOWER 40.6/100Mixed-negative evidence82% evidence ASLEEP 10.5/35 Revenue 4.1% · PAT -14.8% · OPM change 0 pp 95% evidence 16.3/25 ROCE 13.7% · OPM 19% 76% evidence 6.7/20 P/E 28.4× · PEG — 50% evidence 7.1/20 RS sector -0.5% · RS bench -7.5% · 1Y -2%0 of 12 weeks ahead 100% evidence
Exact sum: 10.5 + 16.3 + 6.7 + 7.1 = 40.6 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
16Orient Green Power Company LtdGREENPOWER 40.6/100Mixed-negative evidence80% evidence ASLEEP 13.3/35 Revenue 0.7% · PAT 15.5% · OPM change -1 pp 95% evidence 12.2/25 ROCE 7.2% · OPM 68% 95% evidence 10.3/20 P/E 20.9× · PEG — 15% evidence 4.8/20 RS sector -11.9% · RS bench -18.5% · 1Y -28.1%5 of 12 weeks ahead 100% evidence
Exact sum: 13.3 + 12.2 + 10.3 + 4.8 = 40.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17India Power Corporation LtdDPSCLTD 38.2/100Mixed-negative evidence69% evidence ASLEEP 18.0/35 Revenue 10.1% · PAT 82.4% · OPM change 65.3 pp 62% evidence 4.5/25 ROCE 3.5% · OPM -1.8% 95% evidence 11.7/20 P/E 55.6× · PEG — 50% evidence 4.0/20 RS sector -26.4% · RS bench -25.3% · 1Y -37.6%0 of 10 weeks ahead 70% evidence
Exact sum: 18 + 4.5 + 11.7 + 4 = 38.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
18RattanIndia Power LtdRTNPOWER 32.7/100Adverse evidence75% evidence ASLEEP 12.1/35 Revenue -6.4% · PAT -4.3% · OPM change 4 pp 74% evidence 6.6/25 ROCE 6.2% · OPM 16% 100% evidence 8.4/20 P/E 40.7× · PEG — 50% evidence 5.6/20 RS sector -13.9% · RS bench -14.4% · 1Y -28.7%2 of 10 weeks ahead 70% evidence
Exact sum: 12.1 + 6.6 + 8.4 + 5.6 = 32.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
19Reliance Power LtdRPOWER 26.5/100Adverse evidence77% evidence ASLEEP 9.5/35 Revenue 2.9% · PAT -80% · OPM change -1 pp 100% evidence 5.5/25 ROCE 6.1% · OPM 29% 100% evidence 8.5/20 P/E 2647× · PEG — 15% evidence 3.0/20 RS sector -40.9% · RS bench -30.4% · 1Y -46.6%5 of 10 weeks ahead 70% evidence
Exact sum: 9.5 + 5.5 + 8.5 + 3 = 26.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
20BF Utilities LtdBFUTILITIE 20.8/100Adverse evidence66% evidence ASLEEP 2.1/35 Revenue 0.4% · PAT -80% · OPM change -59.9 pp 95% evidence 4.5/25 ROCE 3.9% · OPM -95.1% 76% evidence 10.0/20 P/E — · PEG — 0% evidence 4.2/20 RS sector -34% · RS bench -14.7% · 1Y -25.4%6 of 10 weeks ahead 70% evidence
Exact sum: 2.1 + 4.5 + 10 + 4.2 = 20.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
Showing 10 of 20 companies
05 · what price has already done

Market action

Adani Power Ltd has the strongest one-year price move in Power - Generation/Distribution at +77.9%. It also leads on Mansfield relative strength against NIFTY at +17.4%. 5 of 20 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-08-14.

Price and relative strength

Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

06 · the story behind the numbers

Power - Generation/Distribution — the story behind the numbers

This is the written read behind the Power - Generation/Distribution figures above — what is actually happening in the sector, in words, with the evidence each claim rests on. It is dated 22 Jul 2026. 1 theme is live here. It also states what would change this read.

The single data point suggests expansion continues despite infrastructure bottlenecks. Capacity addition of 5.1 GW supports the operating leverage inflection catalyst. However, the regulatory risk regarding transmission lines introduces uncertainty. The verdict balances high execution on capacity targets against evacuation constraints.

The Power - Generation/Distribution sector analysis for the week ending 2026-07-19 centers on Adani Green Energy Ltd, the sole constituent reporting data. The company delivered revenue of INR 11,602 crores, representing a 22% year-over-year increase. EBITDA grew 23% to INR 10,865 crores, resulting in margins of 91.2%.

How old this read is: This read comes from our Power - Generation/Distribution sector brief dated 22 Jul 2026, so the words here and the numbers above them cover the same few weeks.

What is live in this sector right now

Live themeSeverityEvidence on file
Delays in transmission lines and further consumption at their end.Named for ADANIGREENmedium“in view of the evacuation constraints and how the market pans out with respect to transmission lines” Monitoring evacuation constraints and market pans out with respect to transmission lines.

What would change this read

Regulatory tariff cuts or grid-evacuation bottlenecks persistently curtail asset yields, causing sector aggregate earnings to flatline or contract while the multiple remains trapped at cycle highs.

Sources: our Power - Generation/Distribution sector brief, 22 Jul 2026 · company earnings-call transcripts.

07 · 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 ₹63,444 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, 201.1% 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
Gap201.1% versus #2 · Tata Power Company Ltd
Persistence5/8 recent comparable periods
Coverage20/20 companies · 338 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₹63.4K Cr
3Adani Power Ltd ADANIPOWER₹59.0K Cr
4Torrent Power Ltd TORNTPOWER₹29.2K Cr
5JSW Energy Ltd JSWENERGY₹19.0K Cr
Revenue growthfastest growers
1Mac Charles (India) Ltd 507836100%
2SJVN Ltd SJVN61%
3NTPC Green Energy Ltd NTPCGREEN42%
4KPI Green Energy Ltd KPIGREEN40%
5JSW Energy Ltd JSWENERGY35%
Revenue · company comparison
20/20 level · 20/20 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyRevenueRevenue growthReported
NTPC Ltd NTPC₹50.7K Cr7.8%Jun 2026
Tata Power Company Ltd TATAPOWER₹19.1K Cr5.6%Jun 2026
Adani Power Ltd ADANIPOWER₹18.9K Cr34%Jun 2026
Torrent Power Ltd TORNTPOWER₹8.1K Cr2.8%Jun 2026
CESC Ltd CESC₹5.5K Cr5.4%Jun 2026
JSW Energy Ltd JSWENERGY₹5.2K Cr1.2%Jun 2026
NLC India Ltd NLCINDIA₹4.7K Cr23%Jun 2026
Adani Green Energy Ltd ADANIGREEN₹4.4K Cr17%Jun 2026
NHPC Ltd NHPC₹3.8K Cr18%Jun 2026
Reliance Power Ltd RPOWER₹2.0K Cr3.7%Jun 2026
Jaiprakash Power Ventures Ltd JPPOWER₹1.8K Cr12%Jun 2026
SJVN Ltd SJVN₹1.4K Cr52%Jun 2026
NTPC Green Energy Ltd NTPCGREEN₹1.1K Cr63%Jun 2026
RattanIndia Power Ltd RTNPOWER₹799 Cr-2.8%Jun 2026
KPI Green Energy Ltd KPIGREEN₹694 Cr15%Jun 2026
Gujarat Industries Power Co Ltd GIPCL₹499 Cr34%Jun 2026
India Power Corporation Ltd DPSCLTD⚠ unverified₹166 Cr21%Mar 2026
Orient Green Power Company Ltd GREENPOWER⚠ unverified₹81 Cr-6.9%Jun 2026
Mac Charles (India) Ltd 507836₹32 Cr1,500%Mar 2026
BF Utilities Ltd BFUTILITIE₹6 Cr1.9%Jun 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
₹5.5K 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
₹3.8K 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
₹4.7K 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
₹1.4K 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
₹19.1K Cr

Torrent Power Ltd · TORNTPOWER

—
—
—
—
₹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
₹8.1K 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%
5.4%

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%
18%

NLC India Ltd · NLCINDIA

—
—
—
—
—
—
—
—
—
-14%
-31%
1.8%
23%
39%
8.3%
13%
14%
0.7%
31%
23%

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%
52%

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%
5.6%

Torrent Power Ltd · TORNTPOWER

—
—
—
—
—
—
—
—
39%
-1.2%
8.1%
23%
3.1%
2.1%
-1.1%
-12%
9.8%
4.3%
-0.8%
2.8%
08 · 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 · 390 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%
4Orient Green Power Company Ltd GREENPOWER⚠ unverified68%
5NHPC Ltd NHPC62%
Margin changefastest expanders
1Mac Charles (India) Ltd 507836+547.0 pp
2India Power Corporation Ltd DPSCLTD⚠ unverified+65.3 pp
3Gujarat Industries Power Co Ltd GIPCL+18.0 pp
4Adani Green Energy Ltd ADANIGREEN+10.0 pp
5NLC India Ltd NLCINDIA+7.0 pp
Operating margin · company comparison
20/20 level · 20/20 change
All-company data · latest reported quarter
CompanyOPMMargin changeReported
Adani Green Energy Ltd ADANIGREEN90%+10.0 ppJun 2026
NTPC Green Energy Ltd NTPCGREEN89%0.0 ppJun 2026
Mac Charles (India) Ltd 50783676%+547.0 ppMar 2026
Orient Green Power Company Ltd GREENPOWER⚠ unverified68%−1.0 ppJun 2026
NHPC Ltd NHPC62%+6.0 ppJun 2026
SJVN Ltd SJVN61%−16.0 ppJun 2026
JSW Energy Ltd JSWENERGY55%+1.0 ppJun 2026
Gujarat Industries Power Co Ltd GIPCL48%+18.0 ppJun 2026
Jaiprakash Power Ventures Ltd JPPOWER43%+5.0 ppJun 2026
Adani Power Ltd ADANIPOWER42%+2.0 ppJun 2026
KPI Green Energy Ltd KPIGREEN35%+1.0 ppJun 2026
NTPC Ltd NTPC32%+5.0 ppJun 2026
NLC India Ltd NLCINDIA31%+7.0 ppJun 2026
Reliance Power Ltd RPOWER29%−1.0 ppJun 2026
Tata Power Company Ltd TATAPOWER20%0.0 ppJun 2026
Torrent Power Ltd TORNTPOWER19%0.0 ppJun 2026
CESC Ltd CESC16%−1.0 ppJun 2026
RattanIndia Power Ltd RTNPOWER16%+4.0 ppJun 2026
India Power Corporation Ltd DPSCLTD⚠ unverified-1.8%+65.4 ppMar 2026
BF Utilities Ltd BFUTILITIE-95%−59.9 ppJun 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%
16%

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%
62%

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%
31%

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%
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%
20%

Torrent Power Ltd · TORNTPOWER

26%
25%
26%
16%
21%
22%
18%
16%
18%
16%
17%
21%
17%
17%
18%
19%
19%
21%
18%
19%

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
−1.0 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
+6.0 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
+7.0 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
−16.0 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
0.0 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
0.0 pp
09 · 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 the 100% top of the scoring scale, so level and change sit with different companies.

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 ≥100% on the scoring scale (150.3% uncapped) growth from a ₹503 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 · 338 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₹5.3K Cr
4NHPC Ltd NHPC₹4.3K Cr
5NLC India Ltd NLCINDIA₹3.4K Cr
Profit growthfastest growers
1Gujarat Industries Power Co Ltd GIPCL100%
2KPI Green Energy Ltd KPIGREEN33%
3NHPC Ltd NHPC24%
4Adani Power Ltd ADANIPOWER20%
5Orient Green Power Company Ltd GREENPOWER⚠ unverified16%
Net profit · company comparison
20/20 level · 17/20 change
All-company data · latest reported quarter
CompanyNet profitProfit growthReported
NTPC Ltd NTPC₹6.9K Cr13%Jun 2026
Adani Power Ltd ADANIPOWER₹4.9K Cr47%Jun 2026
Tata Power Company Ltd TATAPOWER₹1.4K Cr11%Jun 2026
NHPC Ltd NHPC₹1.2K Cr4.2%Jun 2026
Adani Green Energy Ltd ADANIGREEN₹983 Cr19%Jun 2026
Torrent Power Ltd TORNTPOWER₹662 Cr-11%Jun 2026
JSW Energy Ltd JSWENERGY₹533 Cr-36%Jun 2026
Jaiprakash Power Ventures Ltd JPPOWER₹469 Cr69%Jun 2026
NLC India Ltd NLCINDIA₹436 Cr-48%Jun 2026
CESC Ltd CESC₹419 Cr3.7%Jun 2026
NTPC Green Energy Ltd NTPCGREEN₹305 Cr39%Jun 2026
SJVN Ltd SJVN₹225 Cr-1.3%Jun 2026
Gujarat Industries Power Co Ltd GIPCL₹158 Cr177%Jun 2026
KPI Green Energy Ltd KPIGREEN₹95 Cr-14%Jun 2026
Reliance Power Ltd RPOWER₹65 Cr44%Jun 2026
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
BF Utilities Ltd BFUTILITIE₹-5 Cr-178%Jun 2026
Mac Charles (India) Ltd 507836₹-15 Cr—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
₹419 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
₹1.2K 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
₹436 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
₹225 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
₹1.4K Cr

Torrent Power Ltd · TORNTPOWER

—
—
—
—
₹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
₹662 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%
3.7%

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%
4.2%

NLC India Ltd · NLCINDIA

—
—
—
—
—
—
—
—
—
—
-86%
37%
-9.6%
174%
311%
48%
-26%
4.0%
216%
-48%

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%
—
-1.3%

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%
11%

Torrent Power Ltd · TORNTPOWER

—
—
—
—
—
—
—
—
10%
-46%
-7.6%
87%
-8.7%
31%
141%
-26%
50%
34%
-69%
-11%
10 · compare level, then change

Return On Capital Employed

Adani Power Ltd has the highest ROCE among the 20 Power - Generation/Distribution companies compared here, at 17.2%. KPI Green Energy Ltd is next at 13.8%. 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 Jun 2026.

What the numbers say: Adani Power Ltd leads ROCE at 17.2%, 3.4 percentage points above KPI Green Energy 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.

LeaderAdani Power Ltd · 17.2%
Gap24.6% versus #2 · KPI Green Energy Ltd
Persistence1/8 recent comparable periods
Coverage20/20 companies · 158 observations

Investor read: Adani Power 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
1Adani Power Ltd ADANIPOWER17%
2KPI Green Energy Ltd KPIGREEN14%
3Torrent Power Ltd TORNTPOWER14%
4CESC Ltd CESC11%
5Tata Power Company Ltd TATAPOWER11%
ROCE changefastest improvers
1Mac Charles (India) Ltd 507836+6.0 pp
2JSW Energy Ltd JSWENERGY+2.0 pp
3SJVN Ltd SJVN+1.7 pp
4Reliance Power Ltd RPOWER+0.2 pp
5CESC Ltd CESC0.0 pp
Return on capital · company comparison
20/20 level · 20/20 change

Withheld from this chart: NTPC Ltd (NTPC) — its two data sources disagree by up to 4.9% on reported income across 15 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 15 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; Torrent Power Ltd (TORNTPOWER) — its two data sources disagree by up to 34% on reported income across 15 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
CompanyROCEROCE changeReported
Adani Power Ltd ADANIPOWER19%−2.7 ppJun 2026
Tata Power Company Ltd TATAPOWER9.9%−0.9 ppJun 2026
Orient Green Power Company Ltd GREENPOWER⚠ unverified7.9%−0.7 ppJun 2026
Jaiprakash Power Ventures Ltd JPPOWER6.6%−2.6 ppJun 2026
SJVN Ltd SJVN5.4%+1.7 ppJun 2026
Reliance Power Ltd RPOWER4.9%+0.2 ppJun 2026
NHPC Ltd NHPC3.1%−1.8 ppJun 2026
Gujarat Industries Power Co Ltd GIPCL3.1%−0.2 ppJun 2026
India Power Corporation Ltd DPSCLTD⚠ unverified2.6%−2.3 ppMar 2026
NTPC Green Energy Ltd NTPCGREEN2.5%−0.3 ppJun 2026
RattanIndia Power Ltd RTNPOWER2.0%−2.0 ppJun 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%
19%

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%
9.9%

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
−2.7 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
−0.9 pp
11 · compare level, then change

Valuation Against Growth & Quality

SJVN Ltd has the lowest PEG among the 20 Power - Generation/Distribution companies compared here, at 0.29×. Adani Power Ltd is next at 1.83×. Gujarat Industries Power Co Ltd has the lowest P/E at 5.43×, so level and change sit with different companies. 6 of 20 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: SJVN Ltd has the lowest comparable PEG at 0.29×, 84.2% below Adani Power Ltd. Only 6 of 20 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.

LeaderSJVN Ltd · 0.29×
Gap84.2% versus #2 · Adani Power Ltd
Persistence0/8 recent comparable periods
Coverage6/20 companies · 34 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 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.
PEGlowest PEG
1SJVN Ltd SJVN0.3
2Adani Power Ltd ADANIPOWER1.8
3Gujarat Industries Power Co Ltd GIPCL2.5
4NHPC Ltd NHPC3.3
5Tata Power Company Ltd TATAPOWER4.6
P/Elowest P/E
1Gujarat Industries Power Co Ltd GIPCL5.4
2NLC India Ltd NLCINDIA11.9
3NTPC Ltd NTPC11.9
4KPI Green Energy Ltd KPIGREEN13.8
5CESC Ltd CESC14.3
Valuation · company comparison
6/20 level · 18/20 change
All-company data · latest reported quarter
CompanyPEGP/EReported
NTPC Green Energy Ltd NTPCGREEN4.9154.4Jun 2026
Tata Power Company Ltd TATAPOWER4.632.3Jun 2026
NHPC Ltd NHPC3.321.2Jun 2026
Gujarat Industries Power Co Ltd GIPCL2.56.2Jun 2026
Adani Power Ltd ADANIPOWER1.834.6Jun 2026
SJVN Ltd SJVN0.344.2Jun 2026
Mac Charles (India) Ltd 507836—13.8Mar 2026
NTPC Ltd NTPC—12.6Jun 2026
Adani Green Energy Ltd ADANIGREEN—137.4Jun 2026
JSW Energy Ltd JSWENERGY—46.2Jun 2026
Torrent Power Ltd TORNTPOWER—29.5Jun 2026
NLC India Ltd NLCINDIA—12.6Jun 2026
CESC Ltd CESC—14.4Jun 2026
Jaiprakash Power Ventures Ltd JPPOWER—27.2Jun 2026
Reliance Power Ltd RPOWER—39.3Jun 2026
KPI Green Energy Ltd KPIGREEN—16.6Jun 2026
RattanIndia Power Ltd RTNPOWER—91.2Jun 2026
BF Utilities Ltd BFUTILITIE—929.0Jun 2026
Orient Green Power Company Ltd GREENPOWER⚠ unverified—21.1Jun 2026
India Power Corporation Ltd DPSCLTD⚠ unverified—102.7Mar 2026
Full 20-quarter history · every available company

PEG · reported quarter history

Adani Power Ltd · ADANIPOWER

—
—
—
—
—
—
—
—
0.2
—
—
—
1.8
—
—
—
—
—
—
—

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
—
—

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
14.4

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
21.2

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
12.6

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
44.2

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
32.3

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
29.5
12 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Power - Generation/Distribution comparison names 6 specific ways its own evidence can mislead, all listed below. All 20 companies here report on comparable dates, so no rank carries a stale marker. 2 draw at least one figure from a second feed with too little overlap to cross-check. 8 have second-feed figures withheld because the two sources disagree.

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.
  • 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.
  • 8 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.
13 · 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 2026-08-14. 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 2026-08-14 · weekly price and relative-strength history
Derived metricsGrowth, changes and PEG 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 standing9 cross-checked · 3 unverified · 8 withheld, of 20 graded companies.
How a second data feed is admitted, and what happens when it disagrees

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.

14 · questions investors ask, short speakable answers

Power - Generation/Distribution company comparison FAQs

These 24 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 2026-08-14. Nothing here is estimated, and none of it is a recommendation.

Is the Power - Generation/Distribution sector outperforming NIFTY 500?

Power - Generation/Distribution has underperformed NIFTY 500 by 11.1% over 52 weeks and 12.1% over 13 weeks. 5 of 20 covered companies beat NIFTY on Mansfield relative strength, while 9 of 20 beat the sector itself.

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?

JSW Energy Ltd ranks first at 62.3/100 with 82.3% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Power - Generation/Distribution company has the lowest comparable PEG?

SJVN Ltd has the lowest comparable PEG at 0.29, among 6 of 20 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Power - Generation/Distribution 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 Power - Generation/Distribution 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 Power - Generation/Distribution, this page builds its own equal-weight basket of 20 listed Power - Generation/Distribution 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 Power - Generation/Distribution stocks in India?

Ranked by this page's four-factor score, JSW Energy 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 ₹63,444 crore. That covers 20 of 20 companies with comparable reporting through Jun 2026.

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 improvement (+547 percentage points — see the chart above for the starting level). 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 the ≥100% scoring cap, 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?

Adani Power Ltd leads on return on capital employed at 17.2%, 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 PEG — where a LOWER number is cheaper — SJVN Ltd screens cheapest at 0.29×. Only 6 of 20 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 Power - Generation/Distribution sector beating the market?

Power - Generation/Distribution has underperformed NIFTY 500 by 11.1% over the last 52 weeks and 12.1% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 5 of 20 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Power - Generation/Distribution stock has the strongest price momentum?

Adani Power 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?

JSW Energy Ltd scores 62.3 out of 100 with 82.3% evidence confidence, from 22.6 points on growth and earnings, 14 on capital efficiency, 6.8 on valuation and 18.9 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, 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 ₹15,19,592 crore of combined market value. Adani Power Ltd is the largest at ₹3,95,818 crore, about 26% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-18.

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 28.4×, 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 2026-08-18.

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. The sector itself is 11.1% behind 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.

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