Top Renewable Energy Stocks in India 2023
Renewable energy is energy derived from natural sources that are replenished at a higher rate than consumed. Renewable energy sources are plentiful and all around us such as sunlight and wind. As environmental concerns are increasing, the government is doing massive investments in the renewable energy sector as well as private companies are also playing their role in renewable energy production. For the same purpose, in the union budget, 2023-2024 government has increased the previous year’s budget that is 7,033cr by 48% which turns to 10,222 cr.
List of Renewable Energy Stocks in India
Data As per May 2023
|S.No||Company Name||Market Price (in RS)||1Year Return ( %)||Market Capital (Rs in cr)||Net Income FY23 (Rs in Cr)||PE Ratio||P/B Ratio|
|4||KPI Global Infrastructure||493.8||109.46||1,789.00||34.45||20.39||11.64|
|8||KKV Agro Powers||941||NA||53||1.19||NA||2.58|
In this article, you will find the list of top renewable energy stocks in India in 2023.
Suzlon Energy was founded in 1995 and is headquartered in Pune, India. Suzlon is a world leader in renewable energy solutions and develops products in the Wind Energy & Solar energy sector. Suzlon Energy Limited is an Indian multinational wind turbine manufacturer and is also ranked by MAKE as the world’s fifth-largest wind turbine supplier. Using SCADA (Supervisory Control and Data Acquisition) technology, Suzlon provides remote monitoring for more than 9,700 wind turbines worldwide. They have a market capital of 95.86 billion, the 1-year return percentage is -23.47%%, a total amount of debt is 3200 cr, net income is 78.36 cr.
Adani Power is a utility company under the Adani Group. This company was founded in 1996, headquartered in Ahmedabad. Adani Power is a thermal power producer having capacity of 12,450 MW and operates a mega solar plant of 40 MW in Kutch, Gujarat. The company operates the Kamuthi Solar Power Project, one of the largest solar photovoltaic plants in the world. In the solar energy sector, they are planning to invest 75,000 cr by 2024. The stock price target for Adani Power Limited is 197.9 on the downside and 206.9 on the upside. They have a market capital of 793.57 billion INR, a 1-year return is 573.94%, the total amount of debt is 2.27trillion, net income is 488 cr.
Taylormade Renewables Ltd
Taylormade Renewables was founded in 2010 and is headquartered in India. Taylormade Renewables Ltd., (TRL) a BSE-listed MSME company, is a pioneer in the Renewable Energy sector they also have wastewater treatment and management systems with renewable energy. They have various technological and industrial tie-ups, able to develop various solutions for wastewater treatment which are the first time in India or the World. They have a market capital of 236.26 cr, a 1-year return percentage is 2,052.26%, a total amount of debt is 3.71 cr, and net income is 0.17 cr.
KPI Global Infrastructure Ltd
KPI Global Infrastructure was founded in 2008 and is headquartered in India. Now known as KPI global. The Company develops, builds, owns, operates, and maintains solar power plants as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPP) under the brand name ‘Solarism. They have a market capital of 1,729.12 cr, a 1-year return percentage is 90.29%, the total amount of debt is 352.30 cr, net income is 44.62 cr.
KP Energy Ltd
KP ENERGY was founded in 2010 and is headquartered in India. KP Energy Limited is Gujarat’s prominent balance of plant solution provider in the Wind Industry engaged, from conceptualization to the commissioning of a wind energy project. They are committed to creating a sustainable environment by promoting energy efficiency, water conservation, pollution reduction, plantation, and recycling in the communities. They have a market capital of 419.5 cr, the 1-year return percentage is 62.16%, the total amount of debt is 28.24 cr, net income is 18.4 cr.
NHPC was founded in 1975 and is a public limited company under the government of India, Ministry of Power. NHPC is a hydropower board under the guidance of the government and has an authorized capital of 2,000 million. They work with an objective to plan, promote and organize an integrated and efficient development of hydroelectric power in all aspects. They have a market capital of 43,243.87 cr, a 1-year return percentage is 27.45%, total amount of debt is 26,095.95 cr, net income is 3,523.57 cr.
SJVN (Satluj Jal Vidyut Nigam) was founded in 1988 and is also a public limited company under the government of Himachal Pradesh and a venture partner in the government of India (Nathpa Jakhri power plant). This sector is basically undertaking hydroelectric power generation and transmission. They have a market capital of 13,086.22 cr, the 1-year return percentage is 12.63%, the total amount of debt is 6,906.15 cr, net income is 989.8 cr.
KKV Agro Powers Limited
KKV Agro Powers was founded in 2012 and is headquartered in India. It is an electricity generation, transmission, and distribution company. They are independent power producers and power generation company is located in Coimbatore. We have an installed capacity of 10.6 MW that includes an installation of 7.6 MW of Wind Energy and 3 MW of Solar energy. They have a market capitalization of 53.34cr, a 1-year return percentage is 4.43%, total amount of debt is 5.35cr, net income is 1.19 cr.
Zodiac Energy Ltd
Zodiac Energy was founded in 1992 and is headquartered in India. Zodiac Energy is a leading solar company in Ahmedabad that has been providing turnkey solutions for power companies. Also, they are leading the solar industry in India by providing top-of-the-line solar energy solutions for residential, commercial, and industrial properties. The Company offers solar photo-voltaic systems, parabolic troughs, water heaters, and diesel and gas generator sets. They have a market capitalization of 164.70cr, the 1-year return percentage is -12.54%, a total amount of debt is 17.06cr, net income is 5.48 cr.
BF Utilities Ltd
BF Utilities was born out of a scheme of demerger with Bharat forge limited. BF Utilities was founded in 2000 and are headquartered in India. They construct and infrastructure the projects. The Company builds toll highways, Township developments, power, water, telecommunications, sewage and wastewater management facilities, and electricity-generating wind farms. They have a market capital of 1,235.12 cr, the 1-year return percentage is -14.39%, total amount of debt is 1526.82 cr, net income is 50.83 cr.
Energy Development Company Ltd
Energy Development Company was founded in 1995 and is headquartered in India. Their main aim is to participate in the country’s renewable energy development program for sustainable development. EDCL generates clean and green energy from water and wind in its own power plants as well as develops energy and infrastructure projects for other developers. Energy Development ENERGYDEV share price forecast & targets for Intra Day are 16.43, 16.27, 15.93 on the downside, and 17.08, 16.92, 17.23 on the upside. They have a market capital of 790.87 million INR, a 1-year return percentage is -18.58 %, a total amount of debt is 5.26 cr, net income is 9.64 cr.
In conclusion, regardless of the difficulties, India’s renewable energy industry and solar power stocks are headed towards expansion. In spite of the challenges and the latest economic dip in February and March 2023, the renewable energy sector in India is moving toward positive growth. As per the article, Adani is the biggest renewable energy company serving in India with a net income of 488cr followed by Suzlon with a market capital of 78.36 cr and so on. Investors are falling head over heels whenever they hear the term ‘renewable energy’. Big corporates of Ambani and Adani have already announced plans for multi-billion dollar investments in renewable energy to ensure India moves closer towards its net-zero target.