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As India accelerates its transition towards a greener future, renewable energy stocks are gaining significant traction among investors.
This comprehensive guide explores the Top 10 Green Enregy Stocks in India that are leading the charge in India’s burgeoning sustainable energy sector, offering insights into their operations, financial performance, and future prospects.
1. Top 10 Green Enregy Stocks in India – Adani Green Energy Ltd (AGEL)
Adani Green Energy stands as a colossus in India’s renewable energy landscape. As of October 2024, AGEL boasts impressive financial metrics:
• Market capitalization: ₹259,005.15 crore
• Stock price: ₹1,635.10
• PE ratio: 235.46
• 5-year average ROI: 6.64%
AGEL has demonstrated remarkable growth, more than doubling its operational capacity to 11.2 GW over the past five years.
The company’s focus spans solar, wind, and hybrid power generation across 12 Indian states.
In FY24, AGEL reported:
• Revenue: ₹9,220 crore (up 18.6% from the previous year)
• EBITDA margin: 79.6%
With an ambitious goal of achieving 50 GW capacity by 2030, AGEL is firmly positioned as a leader in India’s renewable energy sector.
The company’s consistent industry-leading EBITDA margin of 91.6% demonstrates its operational efficiency.
Notably, AGEL has achieved ‘Water Positive’ status for all its operating plants over 200 MW capacity, certified by DNV, underscoring its commitment to sustainability beyond energy production.
2. Top 10 Green Enregy Stocks in India – Tata Power Company Ltd
Tata Power, one of India’s largest integrated power companies, has been making significant strides in the renewable energy sector. As of November 2024, the company’s financial highlights include:
• Stock price: ₹432
• Market cap: ₹138,071 crore
• 5-year CAGR: 49%
• ROE: 11.3%
Tata Power offers a diverse range of renewable solutions, including:
• Solar and wind power generation
• Rooftop solar installations
• Microgrids
• Energy storage solutions
• EV charging infrastructure
The company operates primarily in India but has expanded its global footprint across multiple countries. In FY24, Tata Power reported impressive financial results:
• Revenue: ₹61,542 crore
• PAT: ₹4,280 crore
Tata Power aims to double its operational capacity to 32 GW by 2030, with a significant focus on renewable energy.
The company has a clean and green installed capacity of 6.1 GW as of Q1FY25, accounting for 41% of its total capacity, with another 5.3 GW under execution.
3. Top 10 Green Enregy Stocks in India – NTPC Green Energy Ltd
NTPC Green Energy, a subsidiary of NTPC, has emerged as a key player in India’s renewable energy sector.
As of December 2024, the company’s financial overview reveals:
• Market cap: ₹123,572.12 crore
• Stock price: ₹146.65
• 1-year return: 20.55%
As of September 2024, the company’s operational footprint spans multiple Indian states, with a total power generation capacity of 3,320 MW.
NTPC Green Energy has set ambitious expansion plans, aiming for 60 GW capacity by FY 2032. In FY 2024, the company reported:
• Revenue from operations: ₹19,625.98 million
NTPC Green Energy recently signed a term sheet to develop a 10 GW ultra-mega renewable energy power park in Andhra Pradesh, showcasing its commitment to large-scale renewable projects.
The company’s revenue increased by an impressive 1,094.19%, and profit after tax (PAT) rose by 101.32% during FY24 over the previous financial year, indicating strong growth momentum.
4. Top 10 Green Enregy Stocks in India – NHPC Ltd
NHPC, a state-owned entity, stands as a leading force in the hydroelectric and renewable energy sectors. As of December 2024, the company’s financial metrics include:
• Market cap: ₹86,367.21 crore
• Stock price: ₹85.98
• 1-year return: 36.15%
• 5-year average net profit margin: 31.23%
• 5-year CAGR: 29.34%
NHPC specializes in hydroelectric power and is expanding into solar and wind energy.
The company operates across several Indian states and has established NHPC Renewable Energy Limited for small hydro and green hydrogen projects.
While its five-year revenue CAGR is around 1%, NHPC remains a significant player in India’s energy sector.
5. Top 10 Green Enregy Stocks in India – Suzlon Energy Ltd
Suzlon Energy has established itself as a leading wind turbine manufacturer. As of November 2024, the company’s financial highlights include:
• Stock price: ₹66.3
• Market cap: ₹89,717 crore
• 5-year CAGR: 89%
• ROE: 28.8%
Suzlon has established itself as a worldwide frontrunner in wind power solutions, providing comprehensive services for wind energy projects. With operations spanning 17 countries across six continents, the company maintains a particularly strong presence in the Indian market. In Q2 FY25, Suzlon reported:
• 48% year-on-year revenue growth
• 96% surge in net profit
The company has shown strong performance, commissioning 882 MW in FY24, which represents a growth of 78% over the previous year.
Suzlon has installed over 20.5 GW of wind energy capacity globally, demonstrating its expertise and scale in the wind energy sector.
6. Top 10 Green Enregy Stocks in India – KPI Green Energy Ltd
KPI Green Energy has emerged as a prominent player in the solar power sector. As of October 2024, the company’s financial snapshot includes:
• Market cap: ₹9,519.00 crore
• Stock price: ₹725.20
• PE ratio: 58.88
• 5-year average ROI: 11.99%
KPI Green Energy operates as both an Independent Power Producer (IPP) and a Captive Power Producer (CPP), showcasing a cumulative capacity of 346+ MW till H1FY24. The company reported strong financial performance:
• Total revenue: INR 406+ Cr
• Profit After Tax (PAT): INR 68+ Cr in H1FY24
The company aims to achieve 1000 MW capacity by 2025, reflecting its commitment to growth and sustainability in the renewable energy sector.
7. JSW Energy Ltd
JSW Energy has been making significant strides in expanding its renewable energy portfolio. As of December 2024, the company’s operational capacity stands at around 7.7 GW, comprising thermal, hydro, wind, and solar power plants across 11 states.
JSW Energy aims to increase its capacity to 10 GW by the end of this fiscal year and more than double its portfolio to reach 20 GW by 2030, primarily through significant growth in its renewable portfolio.
In FY24, JSW Energy recorded impressive financial results:
• Total income: Rs 114.86 billion (5.7% increase from previous year)
• Profit after tax (PAT): Rs 17.28 billion (143% growth from previous year)
The company is also venturing into energy storage and green hydrogen production, with plans to set up a 1 GWh BESS project and a 3,800 tpa green hydrogen plant.
8. ReNew Power
ReNew Power has established itself as a major player in India’s renewable energy sector, focusing on solar and wind energy production.
As of FY24, ReNew boasts:
• Portfolio of approximately 15GW of clean energy assets
• Production of 19,492GWh of clean energy (enough to power 5.3 million Indian households)
• Prevention of 16 million tons of greenhouse gas emissions
ReNew is responsible for 5% of India’s total installed renewable capacity and operates 150 projects across 10 states.
The company is also setting up one of India’s largest utility-scale lithium-ion battery systems across two states, due to be online by early 2025.
9. Orient Green Power Company
Orient Green Power Company has been making waves in wind and biomass energy. As of the latest available data:
• Market cap: ₹2,165.42 cr
• Stock price: ₹18.46
• 5-year average ROI: 7.97%
The company has shown positive performance in recent quarters, with its operating cash flow consistently growing over the past three years, reaching a high of Rs 249.53 crore annually.
Orient Green Power has significantly enhanced its financial health, as evidenced by its debt-equity ratio, which has decreased to a favorable 0.54 times over the most recent five half-yearly periods.
10. BF Utilities Ltd
Founded in 2000, BF Utilities Ltd specializes in renewable energy production, with a primary emphasis on operating wind energy farms.
As of October 2024:
• Market capitalization: Rs. 3,067.65 cr
• Stock price: Rs. 814.40
• PE ratio: 304.03
• 5-year average return on investment: 14.26%
BF Utilities has been pivotal in harnessing wind power for electricity generation, contributing to India’s sustainable energy goals.
In conclusion, these top 10 green energy stocks represent some of the best opportunities in India’s rapidly growing renewable energy sector. As India continues its journey towards a greener future, these companies are not just powering homes but also driving the nation’s sustainable energy transition.
Their strong financial performances, ambitious expansion plans, and commitment to innovation position them well to capitalize on the increasing demand for clean energy solutions in India and beyond.
Investors looking to participate in India’s green energy revolution should consider these stocks, keeping in mind their individual risk appetites and investment goals.
As the renewable energy sector continues to evolve, these companies are likely to play a crucial role in shaping India’s sustainable future and offer potential for long-term growth.
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