List of Top Electric Equipment Stocks in India
In September 2025, the Index of Industrial Production (IIP) recorded a 4.0% year‑on‑year growth, driven by a 4.8% growth in the manufacturing sector. Among the key contributors, the manufacture of basic metals grew by 12.3%, while the manufacture of electrical equipment saw a significant 28.7% growth, highlighting the sector's strong performance and continued demand in India's industrial sector.
Top Electrical Equipment Stocks in 2025
Electrical Components & Equipments Stock Screener
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| NameStocks (78)↓ | ↓Sub-SectorSub-Sector↓ | ↓Market CapMarket Cap↓ | ↓Close PriceClose Price↓ | ↓PE RatioPE Ratio↓ | ↓1D Return1D Return↓ | ↓1M Return1M Return↓ | ↓6M Return6M Return↓ | ↓1Y Return1Y Return↓ | ↓PB RatioPB Ratio↓ | ↓Return on EquityReturn on Equity↓ | ↓ROCEROCE↓ | ↓Dividend YieldDiv Yield↓ | ↓Debt to EquityDebt to Equity↓ | ↓Volatility vs NiftyVolatility vs Nifty↓ | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Polycab India LtdPOLYCAB | Electrical Components & EquipmentsElectrical Components & Equipments | 1,10,623.091,10,623.09 | 7,257.007,257.00 | 54.7654.76 | -1.25-1.25 | -3.20-3.20 | 21.3421.34 | -1.15-1.15 | 11.1711.17 | 22.2622.26 | 28.0328.03 | 0.480.48 | 0.020.02 | 2.772.77 | |
| 2. | Havells India LtdHAVELLS | Electrical Components & EquipmentsElectrical Components & Equipments | 89,917.2789,917.27 | 1,436.501,436.50 | 61.0761.07 | 0.210.21 | -2.99-2.99 | -3.46-3.46 | -17.76-17.76 | 10.7810.78 | 18.6518.65 | 22.8322.83 | 0.700.70 | 0.040.04 | 1.901.90 | |
| 3. | Apar Industries LtdAPARINDS | Electrical Components & EquipmentsElectrical Components & Equipments | 35,538.9235,538.92 | 8,899.008,899.00 | 43.2743.27 | 0.580.58 | 5.955.95 | 10.5410.54 | -11.47-11.47 | 7.897.89 | 19.6019.60 | 31.4231.42 | 0.580.58 | 0.130.13 | 3.863.86 | |
| 4. | Kaynes Technology India LtdKAYNES | Electrical Components & EquipmentsElectrical Components & Equipments | 33,369.8533,369.85 | 4,353.504,353.50 | 113.72113.72 | -12.55-12.55 | -25.22-25.22 | -23.06-23.06 | -30.34-30.34 | 11.7311.73 | 11.0011.00 | 16.1316.13 | -- | 0.320.32 | 3.813.81 | |
| 5. | V Guard Industries LtdVGUARD | Electrical Components & EquipmentsElectrical Components & Equipments | 14,748.4514,748.45 | 342.55342.55 | 47.0147.01 | 1.351.35 | -9.66-9.66 | -7.74-7.74 | -19.67-19.67 | 7.037.03 | 16.0416.04 | 19.0119.01 | 0.440.44 | 0.060.06 | 2.002.00 | |
| 6. | Graphite India LtdGRAPHITE | Electrical Components & EquipmentsElectrical Components & Equipments | 10,629.4110,629.41 | 537.50537.50 | 23.0023.00 | -1.20-1.20 | -11.41-11.41 | -3.15-3.15 | -5.59-5.59 | 1.811.81 | 8.058.05 | 9.919.91 | 2.022.02 | 0.030.03 | 3.313.31 | |
| 7. | Olectra Greentech LtdOLECTRA | Electrical Components & EquipmentsElectrical Components & Equipments | 10,173.0910,173.09 | 1,218.001,218.00 | 73.2473.24 | -1.73-1.73 | -18.27-18.27 | -0.16-0.16 | -22.37-22.37 | 9.669.66 | 14.1114.11 | 19.1619.16 | 0.030.03 | 0.240.24 | 3.523.52 | |
| 8. | HEG LtdHEG | Electrical Components & EquipmentsElectrical Components & Equipments | 10,094.6510,094.65 | 520.50520.50 | 87.7387.73 | -0.50-0.50 | -10.12-10.12 | -0.76-0.76 | -10.96-10.96 | 2.272.27 | 2.592.59 | 4.374.37 | 0.340.34 | 0.130.13 | 3.273.27 | |
| 9. | Diamond Power Infrastructure LtdDIACABS | Electrical Components & EquipmentsElectrical Components & Equipments | 7,546.757,546.75 | 144.32144.32 | 218.68218.68 | 0.780.78 | -8.23-8.23 | 34.0034.00 | -15.01-15.01 | -8.59-8.59 | -- | 3.493.49 | -- | -- | 3.983.98 | |
| 10. | ELANTAS Beck India LtdELANTAS | Electrical Components & EquipmentsElectrical Components & Equipments | 7,331.887,331.88 | 9,156.859,156.85 | 52.5352.53 | -0.99-0.99 | -8.43-8.43 | -7.64-7.64 | -29.06-29.06 | 8.468.46 | 17.4617.46 | 20.6320.63 | 0.080.08 | 0.000.00 | 3.033.03 | |
| 11. | Atlanta Electricals LtdATLANTAELE | Electrical Components & EquipmentsElectrical Components & Equipments | 6,859.566,859.56 | 871.25871.25 | 57.8257.82 | -2.33-2.33 | -11.27-11.27 | 5.825.82 | 5.825.82 | 19.6019.60 | 41.0241.02 | 43.1143.11 | -- | 0.420.42 | 4.514.51 | |
| 12. | KRN Heat Exchanger and Refrigeration LtdKRN | Electrical Components & EquipmentsElectrical Components & Equipments | 4,830.504,830.50 | 783.05783.05 | 91.3391.33 | 0.760.76 | -6.90-6.90 | 2.862.86 | -6.93-6.93 | 9.699.69 | 16.8216.82 | 15.5215.52 | -- | 0.070.07 | 4.084.08 | |
| 13. | Precision Wires India LtdPRECWIRE | Electrical Components & EquipmentsElectrical Components & Equipments | 4,295.074,295.07 | 238.35238.35 | 47.7147.71 | 1.451.45 | 0.840.84 | 29.7829.78 | 25.3025.30 | 7.457.45 | 16.6316.63 | 26.6226.62 | 0.480.48 | 0.110.11 | 3.643.64 | |
| 14. | Marine Electricals (India) LtdMARINE | Electrical Components & EquipmentsElectrical Components & Equipments | 2,916.282,916.28 | 207.12207.12 | 75.8975.89 | -2.03-2.03 | -13.94-13.94 | -5.00-5.00 | -21.74-21.74 | 7.157.15 | 11.5811.58 | 15.1615.16 | 0.140.14 | 0.140.14 | 4.034.03 | |
| 15. | Ram Ratna Wires LtdRAMRAT | Electrical Components & EquipmentsElectrical Components & Equipments | 2,851.812,851.81 | 610.00610.00 | 40.6540.65 | -0.16-0.16 | -0.51-0.51 | -8.52-8.52 | -0.56-0.56 | 5.855.85 | 15.2815.28 | 21.6321.63 | 0.390.39 | 0.630.63 | 3.153.15 | |
| 16. | Ravindra Energy LtdRELTD | Electrical Components & EquipmentsElectrical Components & Equipments | 2,681.352,681.35 | 153.57153.57 | 123.79123.79 | 2.262.26 | -10.08-10.08 | 2.292.29 | 5.525.52 | 7.577.57 | 8.348.34 | 6.326.32 | -- | 0.630.63 | 4.214.21 | |
| 17. | Hind Rectifiers LtdHIRECT | Electrical Components & EquipmentsElectrical Components & Equipments | 2,598.882,598.88 | 1,513.401,513.40 | 70.0370.03 | 0.070.07 | -18.48-18.48 | 13.6513.65 | 7.677.67 | 16.2616.26 | 26.1026.10 | 32.0832.08 | 0.130.13 | 1.031.03 | 4.534.53 | |
| 18. | Concord Control Systems LtdCNCRD | Electrical Components & EquipmentsElectrical Components & Equipments | 2,547.622,547.62 | 2,391.502,391.50 | 112.48112.48 | -5.00-5.00 | 27.7827.78 | 134.26134.26 | 111.47111.47 | 21.3821.38 | 27.3927.39 | 25.5725.57 | -- | 0.000.00 | 4.544.54 | |
| 19. | HPL Electric & Power LtdHPL | Electrical Components & EquipmentsElectrical Components & Equipments | 2,530.872,530.87 | 390.75390.75 | 26.9926.99 | -0.72-0.72 | -9.71-9.71 | -32.23-32.23 | -26.49-26.49 | 2.762.76 | 10.6110.61 | 22.4722.47 | 0.250.25 | 0.700.70 | 3.903.90 | |
| 20. | Servotech Renewable Power System LtdSERVOTECH | Electrical Components & EquipmentsElectrical Components & Equipments | 1,963.271,963.27 | 83.7183.71 | 60.0060.00 | -3.70-3.70 | -25.64-25.64 | -45.15-45.15 | -52.85-52.85 | 8.268.26 | 17.2317.23 | 19.5719.57 | 0.060.06 | 0.320.32 | 3.823.82 |
Disclaimer: Please note that the above table is for informational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing. The data is derived from Tickertape Stock Screener and is subject to real-time updates.
Selection criteria: Sub-sector: Electrical Components & Equipments | Market Cap: Sorted from Highest to Lowest
Selection criteria: Sub-sector: Electrical Components & Equipments | Market Cap: Sorted from Highest to Lowest
Budget Update for Electrical Equipment Sector
- Domestic Electronic Equipment Manufacturing:The Union Budget 2025&26 reaffirmed support for the domestic electronic equipment industry, encouraging Indian manufacturers to scale up production under Make in India. This initiative aims to strengthen local supply chains, enhance export capacity, and generate new jobs in the electrical and electronics segment.
- National Manufacturing Mission for Industrial Growth: A new National Manufacturing Mission will be launched to promote growth across small, medium, and large industries. For the electrical equipment sector, this initiative could attract investments in modern production technologies and improve competitiveness in global markets.
- Expansion of Exempted Capital Goods List: The Budget expanded the list of capital goods exempted from import duties, adding 35 items related to EV battery production and 28 for mobile phone battery manufacturing. This move reduces costs for manufacturers who depend on imported components and encourages domestic assembly and integration of electrical and power-related equipment.
- Encouragement for Electronics Components Manufacturing: The Cabinet also approved a $2.7 bn plan to promote domestic manufacturing of electronic components. This initiative is expected to reduce import dependency and strengthen the local component ecosystem.
How to Invest in Electric Equipment Stocks?
Investing in electric equipment stocks in India using Tickertape is a straightforward process. Tickertape is a powerful stock analysis and screening tool that helps you make informed investment decisions. Here’s how you can use Tickertape to invest in housing finance stocks in India:
- Sign Up and Log In: You can create an account on the Tickertape or log in if you already have one.
- Search for “Electrical Components & Equipments”: Go to Tickertape Stock Screener and set the “Sub-sector: Electrical Components & Equipments ” filter
- Use Filters: You can apply over 200 filters to get stocks sorted based on criteria like market cap, P/E ratio, or returns. You can create your own custom filter, in case your preferred parameters are not available. This can help you narrow down the electric share list.
- Analyse Stock Data: Tickertape provides comprehensive data on each stock, including financials, performance metrics, future projections, red flags, and more. You can review this data to assess each company’s health and potential in depth.
- Add to Watchlist: You may keep track of potential investments by adding them to your watchlist.
- Invest Through Your Broker: Once you’ve decided on a stock, you can place a buy order through your brokerage account linked to Tickertape.
You can stay updated with each of your favourite stocks’ alerts and announcements with Tickertape Alerts. Further, you can analyse your overall portfolio and potential red flags in it by connecting it to Tickertape. Check out detailed analysis of your portfolio now!
Overview of Top Electric Equipment Stocks in India
Polycab India Ltd
Founded in 1996, Polycab India Ltd is India’s largest wires and cables manufacturer. It also makes fans, lighting, and switches, serving industrial and household needs. The company plays a key role in India’s electrification drive.
Havells India Ltd
Established in 1958, Havells India Ltd is a leading electrical goods maker. It produces cables, fans, switches, and home appliances. With strong brands and global reach, it supports India’s growing power and consumer needs.
Kaynes Technology India Ltd
Started in 2008, Kaynes Technology India Ltd designs and manufactures advanced electronics. It provides end-to-end solutions across automotive, defence, and industrial sectors, focusing on embedded systems, IoT, and electronic manufacturing for global clients.
Apar Industries Ltd
Founded in 1958, Apar Industries Ltd makes conductors, cables, and transformer oils. It exports to over 140 countries and supplies major power utilities, playing an important role in India’s renewable and transmission infrastructure growth.
V Guard Industries Ltd
Established in 1977 in Kochi, V-Guard Industries Ltd began with voltage stabilisers. Today, it produces wires, water heaters, fans, and pumps. The company is known for quality electrical products across India’s household and industrial markets.
What are Electric Equipment Stocks?
Electrical equipment stocks refer to shares of companies involved in the design, manufacturing, and distribution of electrical equipment and components. These companies produce a wide range of products that are essential for power generation, distribution, and consumption.
Advantages of Investing in Electrical Equipment Stocks
Exposure to Infrastructure Growth
Electrical equipment companies operate in a sector linked to power, manufacturing, real estate, and public infrastructure. As India expands transmission lines, renewable capacity, EV charging, and industrial parks, equipment demand may stay resilient.
Renewable Energy Push
Government programmes like National Smart Grid Mission, EV charging rollout, rooftop solar schemes, rail electrification, and green hydrogen plants create structural opportunities for equipment manufacturers, especially those in transformers, smart metering, automation, and power electronics.
Rising Industrial Automation
Companies upgrading factories to robotics, energy-efficient motors, and power control systems may drive sustained orders. This trend supports companies like ABB, Siemens, and Schneider Electric Infra.
Consumer Electrical Demand
Growth in residential construction, rising appliance penetration, and premium product trends (modular switches, energy-efficient appliances, LED lighting) help consumer electrical brands.
Export Potential
Several Indian equipment manufacturers are expanding internationally due to competitive pricing and engineering expertise. This provides a diversified revenue base beyond domestic cycles.
Risks of Investing in Electrical Equipment Stocks
Order-Driven Business
Many companies rely on government tenders, EPC contracts, and industrial capital expenditure cycles. Slowdowns in infrastructure, real estate, or manufacturing can reduce order inflows and impact earnings.
Raw Material Cost
Copper, aluminium, steel, and polymers are major inputs in cables, motors, transformers, and switchgear. Sharp fluctuations in commodity prices can squeeze margins if companies cannot pass on costs quickly.
Long Working Capital
Electrical equipment firms often face stretched payment cycles, especially in government and infrastructure contracts. High receivables can strain cash flows and increase debt.
High Competition
With several domestic and global players in the segment, competition can lead to lower bidding margins, especially in government tenders and standardised products.
Technology Disruption
Rapid advances in automation, smart metering, EV infrastructure, and renewable-integrated power systems require continuous R&D. Companies unable to upgrade may lose market relevance.
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Factors to Consider Before Investing in Electrical Equipment Stocks
Order Book Strength
A healthy order book shows how much confirmed business a company already has. Checking details like the mix of government and private projects, delivery timelines, and how orders compare to yearly sales can help understand future revenue stability.
Profit Margins
Electrical equipment companies depend heavily on raw materials like copper, aluminium, and steel. Firms that manage costs well, have pricing power, and maintain good profit margins are usually better prepared for price fluctuations.
Product Portfolio
Companies offering modern and high-demand products such as automation systems, smart meters, EV chargers, and renewable energy equipment often remain more relevant as the industry evolves.
End-Market Exposure
Businesses linked to fast-growing areas such as renewable energy, power transmission, EV infrastructure, data centres, and industrial automation may see stronger and steadier demand than those depending mainly on real estate or infrastructure cycles.
Competitive Positioning
Brands with a strong market presence, wide distribution, and long-term partnerships generally have better pricing power and customer loyalty in both industrial and consumer markets.
Conclusion
Electrical equipment stocks can benefit from India’s expanding power network, rising electrification, and growing renewable energy landscape. However, performance varies across companies, so reviewing factors like order book strength, margins, product relevance, and competitive position becomes important. Using tools like the Tickertape Stock Screener can help compare financials, valuations, and growth trends before analysing electrical equipment stocks further.
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Frequently Asked Questions on Electrical Equipment Stocks
What are electric equipment stocks?
Electrical electric stocks include firms producing transformers, switchgears, and control systems for power and infrastructure projects in India.How to invest in Electrical Equipment Stocks?
Here’s how you can invest in Electrical Equipment Stocks:- Go to the Tickertape Stock Screener.
- In the 'Industrials' sector, select the ‘Electrical Components & Equipments’ sub-sector.
- Analyse and sort the Electrical Equipment Stocks using over 200+ filters—including valuation ratios, financials, technical indicators, and more—based on your investment thesis.
- Review the filtered list, and identify stocks that best align with your risk appetite, return expectations, and investment goals.
- Once you've shortlisted the stocks, click ‘Place Order’ to invest in your preferred Electrical Equipment Stocks.
Disclaimer: Please do your own research or consult your financial advisor before investing.
What are some of the top electrical equipment stocks listed on NSE?
Top NSE-listed Electrical Components & Equipments stocks in India based on market capitalisation include:- Polycab India Ltd
- Havells India Ltd
- Kaynes Technology India Ltd
- Apar Industries Ltd
- V Guard Industries Ltd
Disclaimer: Please note that the above list is for educational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing.
What are the factors affecting electrical equipment stock prices?
Electrical equipment stock prices are influenced by several things, such as government infrastructure spending, private-sector capex cycles, power sector demand, and raw material costs like copper and aluminium.What is the future projection of electrical equipment stocks?
The outlook for electrical equipment stocks in India remains positive as the country expands power capacity, renewable energy installations, and electrification across transport and industries. Growth in smart grids, automation, EV chargers, and data centres is expected to further support the sector.Disclaimer: Please note that this is not a recommendation. Please do your own research or consult your financial advisor before investing.
How to choose electrical equipment stocks?
When reviewing the electric stock list or electric share price list, consider factors such as product range, demand across end industries, financial health, and technological capability. Companies with strong order books, lower debt, and products linked to future growth areas like renewable energy and automation may offer better stability.Disclaimer: Please note that this is not a recommendation. Please do your own research or consult your financial advisor before investing.
Do electrical equipment stocks offer regular dividends?
Some companies in the electric equipment stocks in India category do pay dividends. However, since revenue often depends on project execution and long working capital cycles, dividend payouts may not always be consistent. It varies widely from company to company.Disclaimer: Please note that this is not a recommendation. Please do your own research or consult your financial advisor before investing.
Are electrical equipment stocks a good investment for the long term?
The Indian electrical equipment market size is forecast to increase by $ 76.24 bn, at a CAGR of 14.3% between 2023 and 2028. However, whether they are a good investment depends on several factors, such as the order book visibility, product relevance, technology capability, competitive position, and ability to manage raw material price swings.Disclaimer: Please note that this is not a recommendation. Please do your own research or consult your financial advisor before investing.
