SOLAR COMPANIES STOCK in INDIA
Solar energy is one of the trending topics these days due to its swift usage and advantages over the environment, solar energy production, and also on finances as many of the solar companies also have stocks for the same. The usage of coal, oil, and gas is the leading cause of soil and water pollution. These are the concerns that are giving rise to the importance of using clean and renewable energy sources worldwide. Although, the government is also supporting the usage of renewable energy and solar energy. There are various companies in India that work on renewable resources like solar panels, windmills. This article has got you covered! Explore best performing solar companies Stock in India
List of Solar Companies Stock 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 | PB Ratio |
|---|---|---|---|---|---|---|---|
| 1 | Adani Power | 240.1 | 279.50 | 91,853 | 10726 | 9.07 | 4.98 |
| 2 | TATA Power | 200 | -19.13 | 65,137 | 939 | 21.24 | 2.9 |
| 3 | Waree Energies | 1004.3 | 155.25 | 291 | 289.47 | 695.43 | 23.57 |
| 4 | Vikram Solar | 415 | 25.2 | 252 | 1,577 | 25.71 | 3.43 |
| 5 | Urja Global | 7.85 | 50 | 445 | 10.14 | 212.94 | 2.45 |
| 6 | Websol Energies | 91.1 | 13.89 | 337 | 218 | 30.82 | 1.66 |
| 7 | Ujaas Energy | 2.04 | -52.87 | 41 | 5.04 | NA | 0.6 |
Adani Power
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 3-year return is 573.94%, and a 5-year CAGR is 55%.
TATA Power
Tata Power is a utility company under the Tata Group. This company was founded in 1919, headquartered in Mumbai. Tata Power has its operations based in 35 different locations in India. The core business of tata power is to generate, transmit and distribute electricity, and natural gas exploration. It is India’s largest integrated power company with an installed electricity generation capacity of 14,076 MW. Their net income is worth around 2,156 cr, generating revenue of 42,576 cr for the year 2022. They have a market capitalization of $7.77 Billion, a 3-year 0return of 530.67%, and a 3-year CAGR of 5.20%.
Waaree Energies Ltd
Waaree Energies is a flagship company of the Waaree Group. This company was founded in 1989, headquartered in Mumbai. It has India’s largest Solar PV Module manufacturing capacity of 12 GWs at its plants in Surat and Umbergaon in Gujarat. They are amongst the top players in India in Solar Panel Manufacturing, EPC Services, Project Development, Rooftop Solutions, Solar Water Pumps, and also an Independent Power Producer. They are operating revenue in the range of over 500 cr. They have a market capital of 256.28 cr, a 1-year sales turnover is 153.56, 1-year CAGR of 167%.
Vikram Solar
A company owned by Gyanesh Chaudhary. This company was founded in 2006, headquartered in Kolkata, India. largest solar module manufacturer in India with 3.5 GW module manufacturing capacity annually and the second-largest solar energy company in India by revenue. They are one of the biggest solar module manufacturers in India with a 3.5 GW module manufacturing capacity annually and the second-largest solar energy company in India by revenue. They have a market capitalization of 10664Cr, a 1-year sales turnover is 1,577cr, 1-year CAGR of 189%.
Urja Global Ltd
Urja Global is a small capital company that was established in 1992, headquartered in Delhi. It is one of India’s Non-Renewable and Renewable Energy developers and operators and also a certified leading integrate solar power company. They design, consultancy, integration, supply, installation, and maintenance of off-grid and grid-connected solar power plants. Their basic focus is to develop and operate renewable energy, equipment, and services. They have a market capital of 457.77cr, a 1-year return is -59.42% and a 5-year CAGR is 7.41%.
Websol Energy Systems Ltd
Websol Energy Systems is a small capital company that was established in 1990, headquartered in West Bengal. Websol Energy Systems are manufacturer, Supplier of Solar Cells, Solar Modules & Other Solar Products. They basically focus on the manufacturing of photovoltaic monocrystalline solar cells that helps in transforming sunlight into electricity. They have a market capital of 326.48 cr, a 1-year return is -25.2% and a 5-year CAGR is -1.15%. The net profit of the company is 4.41%. The stock price target for Websol Energy System is 77.23 on the downside and 80.13 on the upside.
Ujaas Energy Ltd
Ujaas Energy is a small capital company that was established in 1979, headquartered in Indore, Madhya Pradesh. It is one of the oldest companies in the renewable energy sector. The company aims at becoming the pioneer in the “Generation of Green Energy”. They are engaged in the manufacturing of distribution transformers, and furnace transformers. They are the first company to install a solar power plant under a renewable energy certificate mechanism in March 2012. They have a market capital of 38.06 cr, a 1-year return is -62.86% and a 5-year CAGR is – 37.03%. The debt-to-equity ratio is 83.86%.
Conclusion
According to Statistics, Solar Power will soon become one of the biggest contributors to India’s huge appetite for power. Solar Power will help in meeting the ever-increasing power demands of our shining nation. In spite of the challenges and the latest economic dip in February and March 2023, the solar energy sector in India is moving toward positive growth. And looks like with the expansion in climate concerns, the request for renewable energy resources will also face a possible hike. However, before investing in any stock, make sure to check their financials as well as their scope of growth in the company and the sector.
Read More:- Top 10 Solar Panel Manufacturing Companies in India
