India’s electric equipment industry is set to grow in 2025. India is the third largest producer and consumer of electricity all across the globe, with a total installed power capacity of 442GW as of April 2024. It is expected that India’s electric equipment industry will hit USD 130 billion by FY30. This growth is driven by the country’s rapid infrastructure development, extensive electrification initiatives, and shift towards clean energy sources. In this blog let us look at the best electric equipment stocks.
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Which are the best electric equipment stocks in India 2025
For investors who would like to invest in this rapidly growing sector, there are several noteworthy stocks. These stocks are performing well due to their strong market positions and the development of new concepts. Further, the top electric equipment stocks based on market capitalisation as of 11 April 2025.:
| Company | Market Cap (₹ Cr) | Current Market Price (₹) | Price-to-Earnings Ratio | Dividend Yield (%) | ROE (%) | Promoter Holding (%) |
| ABB India Ltd | 1,08,991 | 5,143 | 58.1 | 0.46 % | 28.8 % | 75.0 % |
| Siemens Ltd | 97,143 | 2,728 | 42.7 | 0.44 % | 17.6 % | 75.0 % |
| Havells India Ltd | 96,101 | 1,533 | 68.6 | 0.59 % | 18.0 % | 59.4 % |
| CG Power & Industrial Solutions Ltd | 87,512 | 572 | 93.4 | 0.23 % | 57.8 % | 58.1 % |
| Bharat Heavy Electricals Ltd | 74,158 | 213 | 143.0 | 0.12 % | 1.13 % | 63.2 % |
| Suzlon Energy Ltd | 71,753 | 53 | 61.3 | 0.00 % | 28.8 % | 13.2 % |
| Waaree Energies Ltd | 62,095 | 2,161 | 62.8 | 0.00 % | 33.4 % | 64.3 % |
| Hitachi Energy India Ltd | 53,395 | 11,979 | 170.0 | 0.03 % | 12.7 % | 71.3 % |
| Premier Energies Ltd | 40,252 | 893 | 174.0 | 0.06 % | 43.7 % | 64.2 % |
| Apar Industries Ltd | 20,198 | 5,028 | 25.0 | 1.01 % | 26.8 % | 57.8 % |
( as of 11 April 2025)
1. ABB India Ltd
ABB India Ltd is a major player in the electrical and industrial technology sector. The company provides a wide range of tailored systems, equipment, and specialised support in areas like energy management and industrial automation.
| Metrics (In ₹ Crore) | FY21 | FY22 | FY23 | FY24 |
| Sales | 6,934 | 8,568 | 10,447 | 12,188 |
| Operating Profit | 566 | 968 | 1,501 | 2,305 |
| Net profit | 520 | 1,016 | 1,242 | 1,872 |
| EPS (In ₹) | 24.53 | 47.96 | 58.61 | 88.33 |
ABB India Limited follows a calendar year (January to December). In the recent quarter, Q4 FY24, the company reported revenue of ₹3,364 crore, marking a 22% increase compared to the same period last year. EBITDA margins stood at 20%, with net profit reaching ₹528 crore. The company’s order book reached at ₹9,400 crore, showing a 12% YoY growth.
Furthermore, the management expects to execute around 67% to 70% of the orders within this year. They also aim to utilise the available cash by increasing dividend payouts, with a proposed hike of 51%.
2. Siemens Ltd
Siemens Limited is involved in offering a broad array of end-to-end solutions across industries. These consist of industrial applications for oil and gas, as well as transmission-distribution of electric energy.
| Metrics (In ₹ Crore) | FY21 | FY22 | FY23 | FY24 |
| Sales | 13,199 | 16,138 | 19,554 | 22,240 |
| EBITDA | 1,452 | 1,860 | 2,487 | 3,104 |
| Net profit | 1,089 | 1,543 | 1,961 | 2,717 |
| EPS (In ₹) | 30.57 | 43.33 | 55.07 | 76.29 |
In the December 2024 quarter, Siemens Limited reported a revenue decline of 3.3%, primarily due to a slowdown in government spending during the first half of 2024. The company maintained healthy EBITDA margins in the range of 11%, with a net profit of ₹614 crore. Looking ahead, Siemens has planned a total capital expenditure (capex) of USD 11 billion over the next 2–3 years to support future growth and expansion.
3. Havells India Ltd
Havells India Limited is a major power distributing manufacturer of equipment with a strong global presence. The company is engaged in the manufacturing of cable, wire, and motor.
| Metrics (In ₹ Crore) | FY21 | FY22 | FY23 | FY24 | 9MFY25 |
| Sales | 10,457 | 13,938 | 16,911 | 18,590 | 15,235 |
| EBITDA | 1,589 | 1,775 | 1,621 | 1,881 | 13,861 |
| Net Profit | 1,044 | 1,196 | 1,072 | 1,271 | 954 |
| EPS (In ₹) | 16.68 | 19.1 | 17.11 | 20.28 | 22.36 |
In Q3 FY25, Havells reported a revenue growth of 10.7%, reaching ₹4,888 crore, with EBITDA margins at 9% and a net profit of ₹278 crore. During the quarter, the company also undertook a significant capex investment for setting up a new refrigerator manufacturing facility in Ghiloth, Rajasthan.
4. CG Power & Industrial Solutions Ltd
CG Power and Industrial Solutions Ltd is a leading engineering company that does manufacturing and marketing of electric equipment.
| Metrics (In ₹ Crore) | FY21 | FY22 | FY23 | FY24 | 9MFY25 |
| Sales | 2,964 | 5,484 | 6,973 | 8,046 | 7,156X |
| EBITDA | 116 | 647 | 1,005 | 1,142 | 953 |
| Net profit | 1,295 | 913 | 963 | 1,427 | 703 |
| EPS (In ₹) | 9.68 | 6.33 | 6.3 | 9.34 | 6.13 |
During this quarter Q3FY25, the order intake was ₹4,390 crores, which is 82% growth year-over-year, and the total order book became ₹9,706 crores. The company is going to do a greenfield expansion site with a 45,000 MVA power transformation capacity increase with investments worth ₹712 crores, which will grow the final capacity to 85,000 MVA by the end of FY25.
5. Bharat Heavy Electricals Ltd
Bharat Heavy Electricals Limited (BHEL) is one of the largest engineering, manufacturing, and construction companies. It works in the power segment and also has an important presence in the defence and aerospace sectors.
| Metrics (In ₹ Crore) | FY21 | FY22 | FY23 | FY24 | 9MFY25 |
| Sales | 17,309 | 21,211 | 23,365 | 23,893 | 19,346 |
| EBITDA | -3,049 | 828 | 1,044 | 711 | 410 |
| Net profit | -2,697 | 446 | 654 | 282 | 29 |
| EPS (In ₹) | -7.75 | 1.28 | 1.88 | 0.81 | 1.49 |
During Q3FY25, the company reported a revenue growth of 32.2%, reaching ₹7,277 crore, with EBITDA margin in the range of 5.8% and net profit reported at ₹125 crore.
The order inflow for this quarter was ₹47,947 crore, and the total order book was ₹1,60,157 crore. They also received an order from Russia to supply a generator of 95 MW.
6. Suzlon Energy Ltd
Suzlon Energy is a leading renewable energy company in India, which operates in wind power solutions. It makes wind turbines and all related components.
| Metrics (In ₹ Crore) | FY21 | FY22 | FY23 | FY24 | 9MFY25 |
| Sales | 3,346 | 6,582 | 5,971 | 6,529 | 7,100 |
| EBITDA | 537 | 900 | 833 | 1,037 | 1,164 |
| Net profit | 104 | -200 | 2,849 | 660 | 889 |
| EPS (In ₹) | 0.1 | -0.17 | 2.28 | 0.49 | 0.85 |
In Q3FY25, the company’s revenue reached ₹2,969 crore, which is up 91% year-on-year. EBITDA was reported at ₹500 crore, with net profit at ₹388 crore. The company’s order book stands at 5.5 GW.
The company management has given margin guidance for coming years in the range of 20% and O&M margins in the range of 40%.
7. Waaree Energies Ltd
Waaree Energies Limited is a famous Indian renewable energy company which is engaged in specialisation in solar energy solutions.
| Metrics (In ₹ Crore) | FY21 | FY22 | FY23 | FY24 | 9MFY25 |
| Sales | 1,953 | 2,854 | 6,751 | 11,398 | 10,441 |
| EBITDA | 85 | 106 | 836 | 1,575 | 1,799 |
| Net profit | 49 | 76 | 483 | 1,237 | 1,248 |
| EPS (In ₹) | 2.50 | 3.84 | 24.49 | 62.76 | 62.80 |
The company’s revenue grew by 11.15% year-on-year, reaching ₹360 crore in Q3FY25. EBITDA margins remained stable at around 19%, and net profit stood at ₹53 crore.
The company’s order book at 26.5 GW, translates to approx ₹50,000 crores. Further, the order book is divided into two parts, where 54% comes from abroad markets and 46% from domestic markets.
8. Hitachi Energy India Ltd
Hitachi Energy Ltd provides industrial and utility industries a complete range of technical know-how, equipment, innovative systems, and field support in the electrical infrastructure field.
| Metrics (In ₹ Crore) | FY22 | FY23 | FY24 | 9MFY25 |
| Sales | 4,884 | 4,469 | 5,237 | 4,501 |
| EBITDA | 323 | 250 | 359 | 325 |
| Net Profit | 203 | 94 | 164 | 199 |
| EPS (In ₹) | 47.99 | 22.16 | 38.64 | 74.03 |
In Q3FY25, the company reported a revenue growth of 20.9%, reaching ₹1,620.27 crore, EBITDA margins of 10%, and net profit of ₹137.38 crore.
The company has an order backlog of ₹18,994.4 crores and has a new service business unit established starting April 1, 2025, to give better support to customers and make the most of service-related opportunities.
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9. Premier Energies Ltd
Premier Energies Ltd is engaged in the solar energy segment, specifically involved in the making of solar photovoltaic cells.
| Metrics (In ₹ Crore) | FY21 | FY22 | FY23 | FY24 | 9MFY25 |
| Sales | 701 | 743 | 1,429 | 3,144 | 4,898 |
| EBITDA | 54 | 30 | 78 | 478 | 1,252 |
| Net profit | 23 | -14 | -13 | 231 | 659 |
| EPS (In ₹) | 0.94 | -0.55 | -0.49 | 8.78 | 8.78 |
For Q3 FY25, the company achieved a total revenue of ₹1,749.4 crore, marking a 144.76% year-on-year increase. This growth was primarily driven by robust demand from the domestic market, reflecting the growing interest in solar power across different segments. EBITDA margin stood at 17.3%, and net profit (PAT) for the quarter was ₹255.2 crore.
Looking forward, the company is going to complete a 1GW Topcon cell and module line by Q1 FY26 and a 4GW Topcon cell and module line is targeted for completion by Q1 FY27.
10. Apar Industries Ltd
Apar Industries makes power transmission cables and also works in other areas like conductors, transformer and special oils, and power and telecom cables.
| Metrics (In ₹ Crore) | FY21 | FY22 | FY23 | FY24 | 9MFY25 |
| Sales | 6,388 | 9,317 | 14,336 | 16,153 | 13,371 |
| EBITAD | 440 | 578 | 1,267 | 1,568 | 1,088 |
| Net profit | 161 | 257 | 638 | 825 | 571 |
| EPS (In ₹) | 41.91 | 67.03 | 166.51 | 205.25 | 201.05 |
The company in Q3FY25 reported revenue growth of 17.7%, reaching ₹4,716 crore with margins in the range of 8% and ₹174 crore net profit.
The management has given guidance to the cable division anticipated to achieve top-line growth of 25% in value terms; the conductor division is expected to grow 10% in volume terms.
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Bottomline
As India progresses towards a cleaner and more electric future, companies manufacturing electronic equipment for energy could be well-positioned to contribute, supporting developments such as clean transportation and smart cities.
With a goal of reaching 500 GW of renewable energy by FY30, this shift will help grow industries in a more sustainable way. So, whether investors are interested in segments like energy transmission, automation, or renewable power, investing in electric equipment stocks today could be a way to be part of the future.
FAQ
1. How to invest in electronic equipment stocks?
To invest in electric equipment stocks, one can buy a publicly listed company in the sector by opening a demat account with any broker. Then, take the shares of the company which the investor wants to buy. However, it is important to research the company, its plans, and its current financial position, order book, future pipeline, etc., before investing.
2. Are electronic equipment stocks safe for investment?
The safety of electronic equipment stocks depends upon the management of the company and also the condition of the country’s economy. Further, this sector will also be dependent on the consumer demand, which will be an important factor as it will help to grow the order book of such companies. Hence, the safety of this sector will be totally dependent upon the risk-taking capacity of the investors, and they may choose to stay invested in a healthy company for decent returns.
3. How can an investor track electronic equipment stocks?
There are various ways to track electronic equipment stocks in today’s time, where one can open a demat account and through the broking app the investor can track and monitor the prices of such stocks. Apart from that, the investors may also choose to opt for newsletters which are given by various financial companies, and one of the easiest ways is to read news articles or blogs which are easily available online. This will help the investors to get a clear picture of the stock and what is going on in the sector.
4. Does the renewable energy mission impact electronic equipment stocks?
Yes, growth in the renewable energy sector may help to improve the performance of electronic equipment stocks as the countries and companies invest in wind energy, solar energy, and electronic vehicles, which will eventually lead to a rise in transformers, switchgear and grids, and energy storage systems. Electronic manufacturing companies supply these companies, due to which their company stock can be benefited.
5. When is a good time to invest in electronic equipment stocks?
Investment in this sector will depend upon the market conditions and one’s individual investment goals and risk-taking ability. But usually, this sector may tend to perform when there is spending made towards renewable energy or infrastructure, or when industrial demand is bouncing back, etc. During such times, it could be a better opportunity to opt for such electronic equipment stocks.
