Who builds India's power grid
9 listed companies earned ₹133,751 crore from power transmission and grid equipment in FY26, up 19.9% on FY25. Power Grid Corporation of India Ltd earned the most, 32.7% of it. Power Grid Corporation of India Ltd earned the most on each rupee of sales: 60.3%.
The brands, and who owns them
TPGL is Torrent Power Ltd's. Brands are read from each company's filings and checked against a public source.
Who sells the most
Power Grid Corporation of India Ltd had 32.7% of the listed companies' revenue from power transmission and grid equipment here, 1.1 times as much as Tata Power Company Ltd, the next largest. The two together sold 61%; the other 7 the rest.
How the sales have grown, and who sold them
The listed companies here earned ₹1.34 lakh Cr from power transmission and grid equipment in FY26. Counting only the companies with figures in both years, sales went from ₹5,711 Cr in FY19 to ₹9,206 Cr, 1.6 times as much. The biggest rise was in FY25 (+26%) and the weakest year FY20 (-19%). Power Grid Corporation of India Ltd's part of the total went from 40% in FY25 to 33% in FY26. Over three years GE Vernova T&D India Ltd grew fastest, +30.9% a year. Some companies are counted only from a later year (Power Grid Corporation of India Ltd from FY25; Tata Power Company Ltd from FY25; Apar Industries Ltd from FY25; Adani Energy Solutions Ltd from FY25; Hitachi Energy India Ltd from FY20; CG Power & Industrial Solutions Ltd from FY25; KEI Industries Ltd from FY25).
Who earns the most on each rupee
Operating profit before interest and tax, as a share of revenue from power transmission and grid equipment. Power Grid Corporation of India Ltd earned 60.3% on its sales in FY26, against 60.2% in FY25. Tata Power Company Ltd earned 11.4% on its sales in FY26, against 8.8% in FY25. Apar Industries Ltd earned 9.0% on its sales in FY26, against 9.9% in FY25. Adani Energy Solutions Ltd earned 40.7% on its sales in FY26, against 41.2% in FY25. Hitachi Energy India Ltd earned 15.7% on its sales in FY26, against 6.8% in FY20. GE Vernova T&D India Ltd earned 26.2% on its sales in FY26, against -1.7% in FY17.
The companies, and their brands
| Company and brands | Sales FY26 | Growth 1 yr | 3 yrs | 5 yrs | Margin | Profit share | Return on assets | P/E | ROE | Share price 1 yr |
|---|---|---|---|---|---|---|---|---|---|---|
| Power Grid Corporation of India Ltd | ₹43,695 Cr | -1.8% | — | — | 60.3% | 64.2% | 11.4% | 14.7 | 16.6% | -12.9% |
| Tata Power Company Ltd Sells in 19 states and 7 countries; exports 0.3% of turnover |
₹38,428 Cr | +5.4% | — | — | 11.4% | 10.7% | 8.2% | 28.5 | 6.1% | -11.9% |
| Apar Industries Ltd Sells in 36 states and 140 countries; exports 29.77% of turnover |
₹17,696 Cr | +280.9% | — | — | 9.0% | 3.9% | 14.7% | 61.2 | 20.6% | +111.7% |
| Adani Energy Solutions Ltd | ₹10,652 Cr | +27.9% | — | — | 40.7% | 10.5% | 7.9% | 53.4 | 2.8% | +38.9% |
| Hitachi Energy India Ltd | ₹8,388 Cr | +30.2% | +23.2% | — | 15.7% | 3.2% | — | 117.2 | 21.0% | +73.3% |
| GE Vernova T&D India Ltd | ₹6,297 Cr | +44.6% | +30.9% | +12.3% | 26.2% | 4.0% | — | 82.2 | 55.3% | +40.6% |
| CG Power & Industrial Solutions Ltd Sells in 27 states and 20 countries; exports 4.0% of turnover |
₹5,136 Cr | +46.4% | — | — | 21.9% | 2.7% | 36.8% | 107.6 | 21.4% | +14.5% |
| Schneider Electric Infrastructure Ltd Sells in 28 states and 49 countries; exports 11.0% of turnover |
₹2,909 Cr | +8.6% | +17.2% | +17.2% | 10.0% | 0.7% | — | 157.2 | 36.4% | +48.1% |
| KEI Industries Ltd | ₹550 Cr | -13.5% | — | — | 3.5% | 0.0% | 4.1% | 44.5 | 14.8% | +6.4% |
Also sold by
See every one of these companies in Valarth
Questions people ask
Who builds India's power grid?
9 listed companies report their revenue from power transmission and grid equipment: Power Grid Corporation of India Ltd (POWERGRID), Tata Power Company Ltd (TATAPOWER), Apar Industries Ltd (APARINDS), Adani Energy Solutions Ltd (ADANIENSOL), Hitachi Energy India Ltd (POWERINDIA), GE Vernova T&D India Ltd (GVT&D), CG Power & Industrial Solutions Ltd (CGPOWER), Schneider Electric Infrastructure Ltd (SCHNEIDER). 6 more sell them but report them together with other products.
Which listed company earns the most from power transmission and grid equipment in India?
Power Grid Corporation of India Ltd, with revenue from power transmission and grid equipment of ₹43,695 crore in FY26: 32.7% of the listed companies' total here.
How much do listed companies earn from power transmission and grid equipment?
The listed companies here earned ₹133,751 crore from power transmission and grid equipment in FY26, up 19.9% on FY25. Private makers are not included.
Which listed company makes the most profit from power transmission and grid equipment?
Power Grid Corporation of India Ltd: its operating profit was 60.3% of its revenue from power transmission and grid equipment in FY26.