4 Power Transmission Stocks Down up to 55% from 52-Week Highs

By 2027, the world's electricity consumption is expected to rise by about 8300 TWh, with emerging economies making the largest contribution.

India's 1700 TWh electricity demand is predicted to increase by more than 20% by 2027 due to industrialisation and the ambitions of the country's expanding middle class.

India's power transmission market is expanding significantly as a result of the country's electrical grid's modernisation and expansion to support its growing industrial base and rising electricity demand brought on by urbanisation and economic growth.

With growth rates much higher than the global average, the nation is one of the most vibrant and quickly expanding power transmission markets in the world.

However, certain stocks in the power transmission sector have seen significant declines, dropping by as much as 55% from their 52-week highs.

Here we discuss 4 of these stocks. Please note, this is neither a stock recommendation nor a fundamental analysis of these companies.

#1 Transformers and Rectifiers (India)

First on our list is the stock of Transformers and Rectifiers (India).

The company has established itself as a top partner for high voltage power transformers and reactors for customers worldwide with three cutting-edge transformer manufacturing facilities.

Its wide range of products include power transformers up to 500 MVA and 1200 kV class, furnace transformers, rectifier and distribution transformers and speciality transformers for a variety of uses, including locomotive traction, series and shunt reactors, mobile substations.

Source: BSE

The shares of the company have fallen as much as 55% from 52-week highs.

For Q2 FY26, the company delivered net sales that were flat, while net profits of the company dipped. Revenues were placed at Rs 4,600 m from Rs 4,615 m YoY. Net profits fell to Rs 374 m from Rs 459 m YoY.

Transformers and Rectifiers (India) reported an average 3-year ROE of 12.2% and average 3-year ROCE of 22.4%.

The purchase of a controlling interest in a Cold-Rolled Grain-Oriented (CRGO) steel processing facility was a crucial strategic decision made during the year by the company.

As CRGO electrical steel makes up almost one-third of transformer raw materials, dependable transformer performance depends on its consistency and quality.

The company's market position, operational effectiveness, and supply chain management will all be greatly improved by this acquisition.

Transformers and Rectifiers (India) is establishing a fully automated radiator facility. Phase 1 of this advanced facility is already operational, with the entire project expected to be completed the next fiscal year.

This facility can manufacture radiators for applications up to 765kV, significantly advancing the company's backward integration strategy and expanding its capabilities.

Additionally, the company has chosen to add 22,000 MVA to its extra high voltage transformer capacity. Commercial production is anticipated to start in February 2026. With this expansion, the company will be able to produce more than 75,000 MVA.

In the past five trading sessions, Transformers and Rectifiers (India) shares have risen from Rs 273.25 to Rs 293.85.

The stock touched its 52-week high of Rs 650.23 on 8 January 2025 and a 52-week low of Rs 230 on 11 December 2025.

To know more check the Transformers and Rectifiers fact sheet and latest quarterly results.

#2 KEC International

Next on our list is KEC International.

The company is a top player in the EPC segment which include power transmission & distribution, railways, civil and urban infrastructure etc.

A significant portion of its revenues comes from transmission and distribution (T&D) segment. In fact, the company achieved a record year-to-date (as of early November 2025) order intake of over Rs 160 billion (bn) reflecting a healthy growth of 20% YoY.

Notably, a substantial 75% of this order intake has been secured by the transmission and distribution business across India and the international markets.

Source: BSE

The stock has fallen as much as 44% from 52-week highs.

On the financial front, KEC International reported revenues of Rs 60,916 m for Q2 FY26 versus Rs 51,133 m YoY. The net profits of the company jumped to Rs 1,608 m from Rs 854 m YoY.

KEC International reported an average 3-year ROE of 7.9% and average 3-year ROCE of 24.9%.

Moving ahead, the company is expanding its tower manufacturing facilities. It had recently completed capacity enhancements at plants in Dubai, Jaipur, and Jabalpur.

The expansion of KEC International's Butibori facility in Nagpur is expected to be completed by this year-end. This will enable the company to meet increasing demand for transmission infrastructure in both the domestic and international markets.

According to the management, the market outlook is still promising globally. With significant transmission projects in progress in Saudi Arabia, the UAE, and Oman, the Middle East remains a major growth engine.

On the international front, the company is looking for opportunities in Africa, the CIS, and the Americas. With a record order book and L1 in T&D of nearly Rs 290 bn, the management is optimistic of future prospects.

Domestically, the government's thrust on renewable evacuation corridors, green energy transmission and intraregional interconnections is creating a robust pipeline of opportunities.

With a strong focus on execution, expanding capacity, a robust and diversified order book and L1 of over Rs 440 bn and the current tender pipeline of over Rs 1,800 bn, particularly in T&D and civil, the company is positioned for growth.

In the past five trading sessions, KEC International shares have dropped marginally to Rs 712.4 from Rs 720.25.

The stock touched its 52-week high of Rs 1,263 on 20 December 2025 and a 52-week low of Rs 605.05 on 7 April 2025.

To know more check the KEC International fact sheet and latest quarterly results.

#3 Danish Power

Third on our list is Danish Power.

Danish Power was founded in the year 1985 in the Jaipur city in India. The products of the company include power transformers, distribution transformers, hermetically sealed transformers, transformers for solar & wind power plants, inverter duty transformers etc.

The company has ventured into new products to cater the power industry and started manufacturing control & relay panels with substation automation and power & distribution transformers.

Source: BSE

The stock of Danish Power has fallen as much as 49% from its 52-week highs.

For the first half of FY26, the company delivered a revenue of Rs 2,110 m, against Rs 1,630 m, reflecting a 29% revenue growth on a year-on-year basis. The company reported net profit of Rs 293.1 m in H1 FY26, against Rs 207.3 m last year, a 41% increase in the net profit numbers.

Danish Power reported an average 3-year ROE of 27.7% and average 3-year ROCE of 38.1%.

At the beginning of November 2025, Danish Power had an order book, Rs 4,050 m to be executed in the next 6 to 8 months.

The management says they continue to see a healthy inquiry pipeline from key sectors, like renewables, along with transmission in the distribution segment as well.

In terms of its expansion, Danish Power's first phase of expansion was completed in the first week of October 2025. The second phase, which is the final phase, is expected to be ready by the end of December 2025.

Once both the expansions are fully operational, the company expects capacities to rise close to 11,000 MVA per annum for transformers.

Danish Power is also laying an emphasis on exports. This year, the company is expecting export orders to form 8% to 10% of its sales.

For FY26, the management has indicated revenue between Rs 5,000-5,500 m. Once the capacity is fully operational, the company expects revenues of around Rs 7,500 m.

In the past one-week, Danish Power shares have risen from Rs 640.05 to the current market price of Rs 651.

The stock touched its 52-week high of Rs 1,269 on 19 December 2024 and a 52-week low of Rs 599.95 on 9 December 2025.

To know more check the Danish Power fact sheet and latest quarterly results.

#4 Torrent Power

Next on our list is the stock of Torrent Power.

Torrent Power has an all-round experience in generation, transmission and distribution of power, with a proven track record of implementing large power projects.

The company is also engaged in manufacturing of power cables.

Source: BSE

The stock of Torrent Power has fallen as much as 22% from 52-week highs.

On the financial front, Torrent Power reported revenues of Rs 78,760 m for Q2 FY26 Vs Rs 71,758 m YoY. The net profits of the company jumped to Rs 7,416 m from Rs 4,957 m YoY.

Torrent Power reported an average 3-year ROE of 17.6% and average 3-year ROCE which was similar at 17.6%.

In addition to its existing renewable pipeline, a subsidiary of the company received letter of award of 250 mw of FDRE renewable generation from its licensed distribution unit.

Torrent Power has also secured a letter of award from MP Power Management Company for long-term supply of power from new 1.6-gigawatt coal-based power plant at a tariff of Rs 5.83 per kWh.

The company recently implemented India's largest green hydrogen natural gas blending initiative within the city gas distribution sector, which was successfully commissioned during Q2 FY26.

With progressive commission of 367 MWp MSEDCL project, aggregate installed generation capacity of the company stood at about close to 5 GW on 30 September 2025, comprising of 2.7 GW gas-based capacity to about 1.9 GW renewable capacity and 362 MW coal-based capacity.

The project pipeline as at the end of the September quarter includes 3.6 GW renewable capacity, 3 GW pump storage capacity, 1.6 GW coal plant, and 2 transmission projects at Khavda and Solapur.

In the past five days, Torrent Power shares have risen remained flat at around the 1,279 levels.

The stock touched its 52-week high of Rs 1,640 on 16 April 2025 and a 52-week low of Rs 1,188 on 6 October 2025.

To know more check the Torrent Power fact sheet and latest quarterly results.

Should You Consider Power Transmission Stocks?

Leading companies in India's power transmission space have tailwinds of robust government investments and rising electricity demand.

With plans for Rs 9.15 tn in transmission infrastructure by 2032, the sector aligns well with renewable energy goals and industrial growth.

However, high valuations and execution risks warrant caution for investors.

On the other hand, some of these stocks may be oversold or undervalued, especially if their low prices are the consequence of transient circumstances.

Investors should proceed cautiously, in spite of the potential value that some might possess. It's crucial to carry out thorough and independent research in this sector.

Investors should evaluate the company's fundamentals, corporate governance, and valuations of the stock as key factors when conducting due diligence before making investment decisions.

Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. Learn more about our recommendation services here...