Sector Alpha Week of 2026-08-05
20-quarter listed-company comparison

Power - Transmission/Equipment Stocks in India

Power - Transmission/Equipment: Power Grid Corporation of India Ltd owns the largest revenue base; Adani Energy Solutions Ltd has the fastest current growth.

01 · the index people search for

Nifty Power - Transmission/Equipment Index — Constituents & Performance

The Power - Transmission/Equipment companies below are the listed Indian Power - Transmission/Equipment universe this page tracks — the same constituent set people search for as the Nifty Power - Transmission/Equipment 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 - Transmission/Equipment 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 14% behind NIFTY 500. Earnings across its companies grew 40% on average over the last four reported quarters.

ASLEEP · 1y +4.1%Moving with the index1 of 3 companies ahead of NIFTY 500 by 5% or more over three months

RS — · 1/3 >200d (−1) · 1/3 lead (+0) · EPS 3/3↑

20030040020262025202420232022 408333 TRAILING 12-MONTH EPS · 100 AT THE START0100169Sep 23Mar 24Sep 24Mar 25Sep 25Mar 26Sep 2023 · trailing 12-month earnings per share at 100, against 100 at the start · down 16.3% on a year ago · 3 reportingDec 2023 · trailing 12-month earnings per share at 89, against 100 at the start · up 13.5% on a year ago · 3 reportingMar 2024 · trailing 12-month earnings per share at 107, against 100 at the start · up 49.0% on a year ago · 3 reportingJun 2024 · trailing 12-month earnings per share at 107, against 100 at the start · up 56.2% on a year ago · 3 reportingSep 2024 · trailing 12-month earnings per share at 107, against 100 at the start · up 2.3% on a year ago · 3 reportingDec 2024 · trailing 12-month earnings per share at 106, against 100 at the start · down 1.2% on a year ago · 3 reportingMar 2025 · trailing 12-month earnings per share at 106, against 100 at the start · down 0.4% on a year ago · 3 reportingJun 2025 · trailing 12-month earnings per share at 169, against 100 at the start · up 49.8% on a year ago · 3 reportingSep 2025 · trailing 12-month earnings per share at 159, against 100 at the start · up 57.6% on a year ago · 3 reportingDec 2025 · trailing 12-month earnings per share at 159, against 100 at the start · up 47.2% on a year ago · 3 reportingMar 2026 · trailing 12-month earnings per share at 161, against 100 at the start · up 5.5% on a year ago · 3 reportingJun 2022 · too few reporting — 2 of the Power - Transmission/Equipment filed a comparable quarter, and three is the floor for a readingSep 2022 · too few reporting — 2 of the Power - Transmission/Equipment filed a comparable quarter, and three is the floor for a readingDec 2022 · too few reporting — 2 of the Power - Transmission/Equipment filed a comparable quarter, and three is the floor for a readingMar 2023 · too few reporting — 2 of the Power - Transmission/Equipment filed a comparable quarter, and three is the floor for a readingJun 2023 · too few reporting — 2 of the Power - Transmission/Equipment filed a comparable quarter, and three is the floor for a readingNot reported yet — earnings trail price by a quarter or two161 · Mar 26No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
20030040020262025202420232022 408333 TRAILING 12-MONTH EPS · 100 AT THE START0100169Mar 24Mar 25Mar 26Sep 2023 · trailing 12-month earnings per share at 100, against 100 at the start · down 16.3% on a year ago · 3 reportingDec 2023 · trailing 12-month earnings per share at 89, against 100 at the start · up 13.5% on a year ago · 3 reportingMar 2024 · trailing 12-month earnings per share at 107, against 100 at the start · up 49.0% on a year ago · 3 reportingJun 2024 · trailing 12-month earnings per share at 107, against 100 at the start · up 56.2% on a year ago · 3 reportingSep 2024 · trailing 12-month earnings per share at 107, against 100 at the start · up 2.3% on a year ago · 3 reportingDec 2024 · trailing 12-month earnings per share at 106, against 100 at the start · down 1.2% on a year ago · 3 reportingMar 2025 · trailing 12-month earnings per share at 106, against 100 at the start · down 0.4% on a year ago · 3 reportingJun 2025 · trailing 12-month earnings per share at 169, against 100 at the start · up 49.8% on a year ago · 3 reportingSep 2025 · trailing 12-month earnings per share at 159, against 100 at the start · up 57.6% on a year ago · 3 reportingDec 2025 · trailing 12-month earnings per share at 159, against 100 at the start · up 47.2% on a year ago · 3 reportingMar 2026 · trailing 12-month earnings per share at 161, against 100 at the start · up 5.5% on a year ago · 3 reportingJun 2022 · too few reporting — 2 of the Power - Transmission/Equipment filed a comparable quarter, and three is the floor for a readingSep 2022 · too few reporting — 2 of the Power - Transmission/Equipment filed a comparable quarter, and three is the floor for a readingDec 2022 · too few reporting — 2 of the Power - Transmission/Equipment filed a comparable quarter, and three is the floor for a readingMar 2023 · too few reporting — 2 of the Power - Transmission/Equipment filed a comparable quarter, and three is the floor for a readingJun 2023 · too few reporting — 2 of the Power - Transmission/Equipment filed a comparable quarter, and three is the floor for a readingNot reported yet — earnings trail price by a quarter or two161No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
Power - Transmission/Equipment, 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 3 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 - Transmission/Equipment outperforming NIFTY 500?

Power - Transmission/Equipment has outperformed NIFTY 500 by 7.3% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 3.6%. 1 of 3 covered companies currently beats NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Adani Energy Solutions Ltd is the strongest against the sector itself at +39.7%.

-3.6%Sector vs NIFTY 500 · 13 weeks
+7.3%Sector vs NIFTY 500 · 52 weeks
1/3Stocks leading NIFTY 500
1/3Stocks leading sector

Sector metric: 34.7 as of 2026-07-19 · CONSOLIDATION · falling.

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

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Power - Transmission/Equipment has outperformed NIFTY 500 by 7.3% over 52 weeks and 3.6% over 13 weeks. 1 of 3 covered companies beat NIFTY on Mansfield relative strength, while 1 of 3 beat the sector itself. Power Grid Corporation of India Ltd leads with revenue of ₹46,733 crore, based on 3 of 3 comparable companies through Mar 2026.

Companies
3
complete canonical membership
Combined market value
₹4.7 L Cr
Power Grid Corporation of India Ltd
Revenue growing
3/3
positive TTM year-on-year growth
Beating NIFTY 500
1/3
positive Mansfield relative strength
Comparing 3 of 3
04 · research priority, made explicit

4-Factor Sector Score

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

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Adani Energy Solutions Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 72.3% evidence confidence.
KEC International Ltd looks inexpensive relative to peers or its own history, but its earnings trajectory has not yet earned the valuation signal.
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.

CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Adani Energy Solutions LtdADANIENSOL 66.5/100Favorable setup72% evidence LEADER 25.1/35 Revenue 20.9% · PAT 16.6% · OPM change 4 pp 95% evidence 11.4/25 ROCE 9.7% · OPM 31% 76% evidence 10.0/20 P/E 67.7× · PEG — 0% evidence 20.0/20 RS sector 39.7% · RS bench 45.8% · 1Y 101.4%12 of 12 weeks ahead 100% evidence
Exact sum: 25.1 + 11.4 + 10 + 20 = 66.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2KEC International LtdKEC 41.9/100Mixed-negative evidence87% evidence ASLEEP 11.4/35 Revenue 7.6% · PAT 6.1% · OPM change -1 pp 88% evidence 11.8/25 ROCE 16.5% · OPM 7% 100% evidence 15.7/20 P/E 19.1× · PEG 0.34 85% evidence 3.0/20 RS sector -23.6% · RS bench -29.4% · 1Y -45.6%0 of 10 weeks ahead 70% evidence
Exact sum: 11.4 + 11.8 + 15.7 + 3 = 41.9 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
3Power Grid Corporation of India LtdPOWERGRID 27.0/100Adverse evidence93% evidence ASLEEP 7.9/35 Revenue 2% · PAT 2.6% · OPM change -38 pp 88% evidence 10.5/25 ROCE 9.7% · OPM 45% 100% evidence 7.2/20 P/E 16.6× · PEG 2.1 85% evidence 1.4/20 RS sector -7.4% · RS bench -2.2% · 1Y -2.7%1 of 12 weeks ahead 100% evidence
Exact sum: 7.9 + 10.5 + 7.2 + 1.4 = 27 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
05 · what price has already done

Market action

Adani Energy Solutions Ltd has the strongest one-year price move in Power - Transmission/Equipment at +101.4%. It also leads on Mansfield relative strength against NIFTY at +45.8%. 1 of 3 covered companies is above zero on that measure. Every line covers 313 weekly closes through 2026-07-31.

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 · compare level, then change

Revenue Scale & Growth Durability

Power Grid Corporation of India Ltd has the highest Revenue among the 3 Power - Transmission/Equipment companies compared here, at ₹46,733 crore. Adani Energy Solutions Ltd is next at ₹30,480 crore. Adani Energy Solutions Ltd has the highest Revenue growth at 20.9%, so level and change sit with different companies.

What the numbers say: Power Grid Corporation of India Ltd is the scale leader at ₹46,733 crore, 53.3% ahead of Adani Energy Solutions Ltd. Adani Energy Solutions Ltd's growth is 20.9% from a ₹30,480 crore base, with 15 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderPower Grid Corporation of India Ltd · ₹46,733 crore
Gap53.3% versus #2 · Adani Energy Solutions Ltd
Persistence5/8 recent comparable periods
Coverage3/3 companies · 53 observations

Investor read: Power Grid Corporation of India Ltd is the scale benchmark; Adani Energy Solutions Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Power Grid Corporation of India Ltd's growth falls below Adani Energy Solutions 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
2Adani Energy Solutions Ltd ADANIENSOL₹30.5K Cr
3KEC International Ltd KEC₹23.5K Cr
Revenue growthfastest growers
Revenue · company comparison
3/3 level · 3/3 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
Power Grid Corporation of India Ltd POWERGRID₹11.7K Cr-5.0%Mar 2026
Adani Energy Solutions Ltd ADANIENSOL₹9.7K Cr42%Jun 2026
KEC International Ltd KEC₹6.4K Cr-7.0%Mar 2026
Full 20-quarter history · every available company

Revenue · reported quarter history

Adani Energy Solutions Ltd · ADANIENSOL

₹3.6K Cr
₹3.4K Cr
₹3.7K Cr
₹3.7K Cr
₹4.6K Cr
₹4.7K Cr
₹5.4K Cr
₹6.2K Cr
₹5.8K Cr
₹6.4K Cr
₹6.8K Cr
₹6.6K Cr
₹6.7K Cr
₹7.4K Cr
₹9.7K Cr

KEC International Ltd · KEC

₹3.6K Cr
₹3.3K Cr
₹4.3K Cr
₹3.3K Cr
₹4.1K Cr
₹4.4K Cr
₹5.5K Cr
₹4.2K Cr
₹4.5K Cr
₹5.0K Cr
₹6.2K Cr
₹4.5K Cr
₹5.1K Cr
₹5.3K Cr
₹6.9K Cr
₹5.0K Cr
₹6.1K Cr
₹6.0K Cr
₹6.4K Cr

Power Grid Corporation of India Ltd · POWERGRID

₹10.3K Cr
₹10.4K Cr
₹10.7K Cr
₹10.9K Cr
₹11.2K Cr
₹11.3K Cr
₹12.3K Cr
₹11.0K Cr
₹11.3K Cr
₹11.6K Cr
₹12.0K Cr
₹11.0K Cr
₹11.3K Cr
₹11.2K Cr
₹12.3K Cr
₹11.2K Cr
₹11.5K Cr
₹12.4K Cr
₹11.7K Cr

Revenue growth · reported quarter history

Adani Energy Solutions Ltd · ADANIENSOL

28%
40%
47%
68%
28%
35%
27%
6.7%
15%
17%
42%

KEC International Ltd · KEC

31%
13%
31%
29%
28%
11%
14%
12%
6.3%
14%
6.8%
11%
11%
19%
12%
-7.0%

Power Grid Corporation of India Ltd · POWERGRID

6.7%
8.6%
7.8%
15%
1.3%
1.0%
2.6%
-2.3%
-0.4%
0.1%
-2.7%
2.5%
1.7%
1.8%
10%
-5.0%
07 · compare level, then change

Operating Economics & Margin Trend

Power Grid Corporation of India Ltd has the highest OPM among the 3 Power - Transmission/Equipment companies compared here, at 45%. Adani Energy Solutions Ltd is next at 31%. Adani Energy Solutions Ltd has the highest Margin change at +4 percentage points, so level and change sit with different companies.

What the numbers say: Power Grid Corporation of India Ltd leads opm at 45%; Adani Energy Solutions Ltd leads margin change at +4 percentage points.

LeaderPower Grid Corporation of India Ltd · 45%
Gap45.2% versus #2 · Adani Energy Solutions Ltd
Persistence2/8 recent comparable periods
Coverage3/3 companies · 58 observations

Investor read: Power Grid Corporation of 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.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
Margin changefastest expanders
1Adani Energy Solutions Ltd ADANIENSOL+4.0 pp
2KEC International Ltd KEC−1.0 pp
Operating margin · company comparison
3/3 level · 3/3 change
All-company data · latest reported quarter
CompanyOPMMargin changeReported
Power Grid Corporation of India Ltd POWERGRID45%−38.0 ppMar 2026
Adani Energy Solutions Ltd ADANIENSOL31%+4.0 ppJun 2026
KEC International Ltd KEC7.0%−1.0 ppMar 2026
Full 20-quarter history · every available company

OPM · reported quarter history

Adani Energy Solutions Ltd · ADANIENSOL

38%
31%
32%
22%
36%
42%
36%
35%
37%
32%
33%
31%
28%
28%
32%
27%
30%
30%
29%
31%

KEC International Ltd · KEC

7.1%
7.2%
5.9%
5.1%
4.4%
5.0%
5.0%
6.0%
6.0%
6.0%
6.0%
6.0%
6.0%
7.0%
8.0%
7.0%
7.0%
7.0%
7.0%

Power Grid Corporation of India Ltd · POWERGRID

85%
86%
81%
85%
84%
88%
88%
84%
86%
88%
83%
87%
85%
85%
83%
81%
79%
86%
45%

Margin change · reported quarter history

Adani Energy Solutions Ltd · ADANIENSOL

−7.1 pp
−7.7 pp
+1.4 pp
−27.6 pp
−1.8 pp
+11.1 pp
+4.2 pp
+13.5 pp
+1.2 pp
−10.0 pp
−3.0 pp
−4.0 pp
−9.0 pp
−4.0 pp
−1.0 pp
−4.0 pp
+2.0 pp
+2.0 pp
−3.0 pp
+4.0 pp

KEC International Ltd · KEC

−2.0 pp
−1.9 pp
−2.2 pp
−1.2 pp
−2.7 pp
−2.2 pp
−0.9 pp
+0.9 pp
+1.6 pp
+1.0 pp
+1.0 pp
0.0 pp
0.0 pp
+1.0 pp
+2.0 pp
+1.0 pp
+1.0 pp
0.0 pp
−1.0 pp

Power Grid Corporation of India Ltd · POWERGRID

−3.1 pp
−1.4 pp
−3.2 pp
−3.3 pp
−1.4 pp
+1.5 pp
+6.6 pp
−0.8 pp
+2.0 pp
0.0 pp
−5.0 pp
+3.0 pp
−1.0 pp
−3.0 pp
0.0 pp
−6.0 pp
−6.0 pp
+1.0 pp
−38.0 pp
08 · compare level, then change

Profit Scale & Acceleration

Power Grid Corporation of India Ltd has the highest Net profit among the 3 Power - Transmission/Equipment companies compared here, at ₹15,928 crore. Adani Energy Solutions Ltd is next at ₹3,091 crore. Adani Energy Solutions Ltd has the highest Profit growth at 16.6%, so level and change sit with different companies.

What the numbers say: Power Grid Corporation of India Ltd leads with ₹15,928 crore of TTM profit, 415.3% above Adani Energy Solutions Ltd. Adani Energy Solutions Ltd shows 16.6% growth from a ₹3,091 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderPower Grid Corporation of India Ltd · ₹15,928 crore
Gap415.3% versus #2 · Adani Energy Solutions Ltd
Persistence4/8 recent comparable periods
Coverage3/3 companies · 53 observations

Investor read: Power Grid Corporation of 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.

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
2Adani Energy Solutions Ltd ADANIENSOL₹3.1K Cr
3KEC International Ltd KEC₹606 Cr
Profit growthfastest growers
Net profit · company comparison
3/3 level · 3/3 change
All-company data · latest reported quarter
CompanyNet profitProfit growthReported
Power Grid Corporation of India Ltd POWERGRID₹4.5K Cr9.7%Mar 2026
Adani Energy Solutions Ltd ADANIENSOL₹1.2K Cr130%Jun 2026
KEC International Ltd KEC₹193 Cr-28%Mar 2026
Full 20-quarter history · every available company

Net profit · reported quarter history

Adani Energy Solutions Ltd · ADANIENSOL

₹478 Cr
₹440 Cr
₹182 Cr
₹284 Cr
₹348 Cr
₹381 Cr
₹-1.2K Cr
₹773 Cr
₹625 Cr
₹714 Cr
₹539 Cr
₹557 Cr
₹574 Cr
₹723 Cr
₹1.2K Cr

KEC International Ltd · KEC

₹80 Cr
₹94 Cr
₹112 Cr
₹31 Cr
₹55 Cr
₹18 Cr
₹72 Cr
₹42 Cr
₹56 Cr
₹97 Cr
₹152 Cr
₹88 Cr
₹85 Cr
₹130 Cr
₹268 Cr
₹125 Cr
₹161 Cr
₹127 Cr
₹193 Cr

Power Grid Corporation of India Ltd · POWERGRID

₹3.4K Cr
₹3.3K Cr
₹4.2K Cr
₹3.8K Cr
₹3.7K Cr
₹3.6K Cr
₹4.3K Cr
₹3.6K Cr
₹3.8K Cr
₹4.0K Cr
₹4.2K Cr
₹3.7K Cr
₹3.8K Cr
₹3.9K Cr
₹4.1K Cr
₹3.6K Cr
₹3.6K Cr
₹4.2K Cr
₹4.5K Cr

Profit growth · reported quarter history

Adani Energy Solutions Ltd · ADANIENSOL

-27%
-13%
-754%
172%
80%
87%
-28%
-8.2%
1.3%
130%

KEC International Ltd · KEC

-33%
-31%
-81%
-36%
35%
1.8%
439%
111%
110%
52%
34%
76%
42%
89%
-2.3%
-28%

Power Grid Corporation of India Ltd · POWERGRID

-37%
8.1%
11%
4.0%
-5.4%
3.6%
11%
-3.6%
3.5%
0.3%
-4.1%
-0.6%
-2.5%
-6.0%
8.4%
9.7%
09 · compare level, then change

Return On Capital Employed

KEC International Ltd has the highest ROCE among the 3 Power - Transmission/Equipment companies compared here, at 16.5%. Power Grid Corporation of India Ltd is next at 9.7%. Adani Energy Solutions Ltd has the highest ROCE change at 0 percentage points, so level and change sit with different companies. Its ROCE series carries 15 reported observations across the 20-quarter window.

What the numbers say: KEC International Ltd leads ROCE at 16.5%, 6.8 percentage points above Power Grid Corporation of India Ltd. Adani Energy Solutions Ltd has the strongest latest improvement at 0 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.

LeaderKEC International Ltd · 16.5%
Gap69.4% versus #2 · Power Grid Corporation of India Ltd
Persistence6/8 recent comparable periods
Coverage3/3 companies · 30 observations

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

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

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 changefastest improvers
1Adani Energy Solutions Ltd ADANIENSOL0.0 pp
3KEC International Ltd KEC−1.7 pp
Return on capital · company comparison
3/3 level · 3/3 change

Withheld from this chart: Adani Energy Solutions Ltd (ADANIENSOL) — its two data sources disagree by up to 85% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter
CompanyROCEROCE changeReported
KEC International Ltd KEC20%−1.7 ppMar 2026
Power Grid Corporation of India Ltd POWERGRID10%−1.4 ppMar 2026
Full 20-quarter history · every available company

ROCE · reported quarter history

KEC International Ltd · KEC

24%
16%
15%
14%
18%
23%
23%
26%
20%
25%
22%
27%
24%
26%
20%

Power Grid Corporation of India Ltd · POWERGRID

11%
11%
11%
12%
13%
13%
13%
13%
12%
13%
12%
13%
11%
12%
10%

ROCE change · reported quarter history

KEC International Ltd · KEC

−9.0 pp
−1.8 pp
+3.2 pp
+8.4 pp
+2.1 pp
+2.0 pp
−0.7 pp
+1.9 pp
+3.8 pp
+1.5 pp
−1.7 pp

Power Grid Corporation of India Ltd · POWERGRID

+0.3 pp
+0.7 pp
+1.7 pp
+0.5 pp
−0.6 pp
−0.2 pp
−0.8 pp
0.0 pp
−1.6 pp
−0.5 pp
−1.4 pp
10 · compare level, then change

Valuation Against Growth & Quality

KEC International Ltd has the lowest PEG among the 3 Power - Transmission/Equipment companies compared here, at 0.34×. Power Grid Corporation of India Ltd is next at 2.1×. Power Grid Corporation of India Ltd has the lowest P/E at 16.6×, so level and change sit with different companies. Its PEG series carries 6 reported observations across the 20-quarter window.

What the numbers say: KEC International Ltd has the lowest comparable PEG at 0.34×, 83.8% below Power Grid Corporation of India Ltd. Only 2 of 3 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.

LeaderKEC International Ltd · 0.34×
Gap83.8% versus #2 · Power Grid Corporation of India Ltd
Persistence0/8 recent comparable periods
Coverage2/3 companies · 14 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.
Valuation · company comparison
2/3 level · 3/3 change
All-company data · latest reported quarter
CompanyPEGP/EReported
Power Grid Corporation of India Ltd POWERGRID2.117.7Mar 2026
KEC International Ltd KEC0.319.5Mar 2026
Adani Energy Solutions Ltd ADANIENSOL80.8Jun 2026
Full 20-quarter history · every available company

PEG · reported quarter history

KEC International Ltd · KEC

1.3
2.8
0.7
0.8
0.5
0.3

Power Grid Corporation of India Ltd · POWERGRID

0.5
0.6
1.1
0.9
1.8
1.8
1.2
2.1

P/E · reported quarter history

Adani Energy Solutions Ltd · ADANIENSOL

132.9
142.7
222.0
196.5
379.9
322.4
100.7
68.1
72.6
88.7
98.2
106.2
103.8
62.6
59.6
46.4
44.1
54.1
51.1
80.8

KEC International Ltd · KEC

22.0
25.2
23.0
29.3
34.1
43.6
54.3
80.5
90.9
80.6
66.8
65.7
67.2
70.9
45.0
42.0
37.1
28.5
19.5

Power Grid Corporation of India Ltd · POWERGRID

9.0
10.3
10.6
10.3
10.3
10.2
10.5
11.5
12.2
14.4
16.4
19.8
21.0
18.3
17.4
17.9
17.0
16.2
17.7
11 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Power - Transmission/Equipment comparison names 6 specific ways its own evidence can mislead, all listed below. All 3 companies here report on comparable dates, so no rank carries a stale marker. 1 has second-feed figures withheld because the two sources disagree. 1 of the 5 ranked sections has fewer than three usable current readings.

Keep these limits visible

  • A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
  • A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
  • The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
  • An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
  • 1 company 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.
  • Thin comparisons: Valuation have fewer than three usable current readings.
12 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 3 Power - Transmission/Equipment companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-31. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-07-31 · 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 standing2 cross-checked · 0 unverified · 1 withheld, of 3 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.

13 · questions investors ask, short speakable answers

Power - Transmission/Equipment company comparison FAQs

These 23 answers restate the Power - Transmission/Equipment comparison above in question form. Every one is computed from the same 3 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-31. Nothing here is estimated, and none of it is a recommendation.

Is the Power - Transmission/Equipment sector outperforming NIFTY 500?

Power - Transmission/Equipment has outperformed NIFTY 500 by 7.3% over 52 weeks and 3.6% over 13 weeks. 1 of 3 covered companies beat NIFTY on Mansfield relative strength, while 1 of 3 beat the sector itself.

Which Power - Transmission/Equipment company is largest by revenue?

Power Grid Corporation of India Ltd leads with revenue of ₹46,733 crore, based on 3 of 3 comparable companies through Mar 2026.

Which Power - Transmission/Equipment company is growing fastest?

Adani Energy Solutions Ltd has the fastest current revenue growth at 20.9%, across 3 of 3 comparable companies.

Which Power - Transmission/Equipment company has the strongest 4-Factor Sector Score?

Adani Energy Solutions Ltd ranks first at 66.5/100 with 72.3% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Power - Transmission/Equipment company has the lowest comparable PEG?

KEC International Ltd has the lowest comparable PEG at 0.34, among 2 of 3 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Power - Transmission/Equipment 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.

What is the Nifty Power - Transmission/Equipment index?

The Nifty Power - Transmission/Equipment index tracks India's listed Power - Transmission/Equipment companies as a single basket. This page follows the same 3 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Power - Transmission/Equipment sector rather than to its largest constituent. Figures are as of Jun 2026.

Which are the best Power - Transmission/Equipment stocks in India?

Ranked by this page's four-factor score, Adani Energy Solutions Ltd places first among 3 listed Power - Transmission/Equipment companies, followed by KEC International 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 - Transmission/Equipment stocks are listed in India?

This comparison covers 3 listed Power - Transmission/Equipment 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 - Transmission/Equipment company is the biggest?

Power Grid Corporation of India Ltd is the largest, with trailing-twelve-month revenue of ₹46,733 crore, ahead of Adani Energy Solutions Ltd at ₹30,480 crore. That covers 3 of 3 companies with comparable reporting through Mar 2026.

Which Power - Transmission/Equipment company has the best profit margins?

Power Grid Corporation of India Ltd has the highest operating margin at 45%, from 3 of 3 comparable companies. Adani Energy Solutions Ltd shows the biggest recent improvement, at +4 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Power - Transmission/Equipment company makes the most profit?

Power Grid Corporation of India Ltd earns the most, at ₹15,928 crore of trailing-twelve-month net profit, from 3 of 3 comparable companies. Adani Energy Solutions Ltd has the fastest profit growth at 16.6%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Power - Transmission/Equipment company earns the highest return on capital?

KEC International Ltd leads on return on capital employed at 16.5%, across 3 of 3 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 - Transmission/Equipment stock is the cheapest?

On PEG — where a LOWER number is cheaper — KEC International Ltd screens cheapest at 0.34×. Only 2 of 3 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 - Transmission/Equipment sector beating the market?

Power - Transmission/Equipment has outperformed NIFTY 500 by 7.3% over the last 52 weeks and 3.6% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 1 of 3 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Power - Transmission/Equipment stock has the strongest price momentum?

Adani Energy Solutions 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 - Transmission/Equipment company scores highest for research priority?

Adani Energy Solutions Ltd scores 66.5 out of 100 with 72.3% evidence confidence, from 25.1 points on growth and earnings, 11.4 on capital efficiency, 10 on valuation and 20 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 - Transmission/Equipment companies does this comparison cover, and over what period?

It compares 3 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 - Transmission/Equipment sector?

The 3 Power - Transmission/Equipment companies on this page carry ₹4,74,512 crore of combined market value. Power Grid Corporation of India Ltd is the largest at ₹2,64,370 crore, about 56% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-05.

How is the Power - Transmission/Equipment sector performing?

1 of the 3 covered Power - Transmission/Equipment companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 7.3% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-05.

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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