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Best Renewable Energy Stocks in India

From the Tatas to the Adanis, top business houses and government entities are investing heavily in the renewable energy sector in India.

This increased focus makes renewable energy an important sector to watch out for, with companies delivering phenomenal returns in the coming years.

Here are the top renewable energy stocks in India.

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CompanyCMP
(Rs)
P/E
(x)
P/BV
(x)
D/E
(Curr FY, x)
EV/EBITRoE
(Latest, %)
RoCE
(Latest, %)
Dividend Yield
(%)
INOX WIND614.8NM11.71.4-14.9NM-13.3%0.0%
WEBSOL ENERGY415.5NM10.40.1-11.8NM-14.4%0.0%
STERLING AND WILSON SOLAR597.9NM13.0-8.7-7.30.0%-219.6%0.0%
SHIGAN QUANTUM120.0NM3.80.719.06.8%15.3%0.0%
INSOLATION ENERGY1,230.0NM47.61.317.920.2%20.0%0.0%
IOC175.55.31.41.010.88.4%11.1%1.7%
GAIL179.818.21.60.311.18.6%10.3%2.8%
NTPC337.119.82.11.511.111.6%10.4%2.2%
RELIANCE IND.2,985.425.62.60.416.010.3%12.6%0.3%
L&T3,378.030.95.61.314.914.2%17.9%0.7%
TATA POWER378.538.63.91.710.013.2%16.5%0.5%
INDIAN ENERGY EXCHANGE 147.040.013.40.028.039.1%51.6%0.7%
JSW ENERGY507.850.44.01.321.68.0%7.4%0.4%
OLECTRA GREENTECH2,045.0196.419.30.241.78.0%14.2%0.0%
ADANI GREEN ENERGY 1,923.2254.337.79.239.516.5%8.7%0.0%
BOROSIL RENEWABLES555.0558.17.90.552.07.7%8.8%0.0%
INOX GREEN ENERGY128.4687.73.30.552.9NM2.3%0.0%

* We show NM where the values are negative

Disclaimer: This is for information purposes only. These are not stock recommendations and should not be treated as such. Learn more about our recommendation services here... Also note that these screeners are based only on numbers. There is no screening for management quality.

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FAQs

Which are the best renewable energy stocks in India right now?

As per Equitymaster's Indian Stock Screener, here is a list of the best renewable energy stocks in India right now...


These companies have been ranked as per their PE (Price to Earnings) ratio. Generally, speaking, high PE stocks are considered to be expensive. And low PE stocks are said to be cheap.

Of course, there are other parameters you should take into account before forming a hard opinion on the stock valuation.

When should you invest in renewable energy stocks?

The best time to buy stocks from this sector is when companies with strong fundamentals are trading at attractive valuations.

The renewable energy theme is gaining pace as India aims to meet 50% of its energy requirement from renewable energy sources by 2030 and reduce its carbon emission by 45%.

Bearing this in mind, companies with coal-based power plants have pivoted their businesses to focus on generating power via renewable energy sources.

Where can I find a list of renewable energy stocks?

The details of listed renewable energy companies can be found on the NSE and BSE website.

For a curated list you can check out our list of renewable energy stocks.

What kind of dividend yields do renewable energy stocks offer?

There is no consistent trend of dividends across the industry, with different companies adopting different dividend policies.

For more details, check out our list of top renewable energy stocks offering high dividend yields.

What are the metrics used to evaluate renewable energy companies?

Investing in stocks requires careful analysis of financial data to find out a company's true worth. However, an easier way to find out about a company's performance is to look at its financial ratios.

The commonly used financial ratios used in the valuation of renewable energy companies are -

Price to Book Value Ratio (P/BV) - It compares a firm's market capitalization to its book value. A high P/BV indicates markets believe the company's assets to be undervalued and vice versa.

To find stocks with favorable P/BV Ratios, check out our list of stocks according to their P/BV Ratios.

Price to Earnings Ratio (P/E) – It compares the company’s stock price with its earnings per share. The higher the P/E ratio, the more expensive the stock.

To find stocks with favorable P/E Ratios, check out our list of stocks according to their P/E Ratios.

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