The switchgear industry is growing fast as India boosts its power and electrical sectors. Switchgear, like electrical switches and circuit breakers, helps control and protect power systems, making it key for reliable electricity. With the government’s focus on better infrastructure and rising energy needs, here are four switchgear stocks that could be great to watch in 2025 for potential growth and investment opportunities.
Here are the four switchgear stocks to watch out for in 2025
CG Power and Industrial Solutions Limited
With a market capitalization of Rs. 104,244.95 crore, the shares of CG Power and Industrial Solutions Limited closed at Rs. 681.75 per equity share, down nearly 0.05 percent from its previous day’s close price of Rs. 682.10.
CG Power and Industrial Solutions Limited was established in 1937 and is part of the Murugappa Group, a leading Indian engineering conglomerate. The company specializes in designing, manufacturing, and marketing products for power generation, transmission, and distribution, as well as industrial and railway sectors.
The company is a major player in switchgear, offering a range of products such as medium and high voltage switchgears, circuit breakers, and gas-insulated switchgears (GIS). These products are essential for controlling, protecting, and isolating electrical equipment in power plants, utilities, industries, and infrastructure projects.
CG Power and Industrial Solutions Limited’s revenue has increased from Rs. 2,192 crore in Q4 FY24 to Rs. 2,753 crore in Q4 FY25, which has grown by 25.59 percent. The net profit has also grown by 17.09 percent, from Rs. 234 crore in Q4 FY24 to Rs. 274 crore in Q4 FY25.
GE Vernova T&D India Limited
With a market capitalization of Rs. 60,182.46 crore, the shares of GE Vernova T&D India Limited closed at Rs. 2,350.45 per equity share, down nearly 0.38 percent from its previous day’s close price of Rs. 2,359.45.
GE Vernova T&D India Limited was established in 1957 and is a leading company in the power transmission and distribution sector in India. The company specializes in engineering, manufacturing, and supplying products and solutions for power infrastructure, serving utilities, industries, and infrastructure markets.
The company offers switchgear products such as circuit breakers, gas-insulated switchgears (GIS), and medium to ultra-high voltage switchgears. These products are essential for safely controlling and protecting electrical networks, ensuring reliable power flow in substations, grids, and industrial facilities.
GE Vernova T&D India Limited’s revenue has increased from Rs. 914 crore in Q4 FY24 to Rs. 1,153 crore in Q4 FY25, which has grown by 26.15 percent. The net profit has also grown by 181.82 percent, from Rs. 66 crore in Q4 FY24 to Rs. 186 crore in Q4 FY25.
HPL Electric and Power Limited
With a market capitalization of Rs. 3,632.33 crore, the shares of HPL Electric and Power Limited closed at Rs. 564.90 per equity share, down nearly 0.65 percent from its previous day’s close price of Rs. 568.60.
HPL Electric & Power Limited was established in 1992 and is a leading Indian electrical equipment manufacturer based in Sonipat. The company operates across five key verticals, such as metering solutions, switchgears, lighting equipment, wires and cables, and solar solutions, serving both domestic and international markets.
The company offers switchgear products such as air circuit breakers, mini circuit breakers, on-load changeover switches, control gears, modular switches, and moulded case circuit breakers. These products help protect and control electrical circuits in homes, industries, and commercial buildings, ensuring safety and reliable power distribution.
HPL Electric and Power Limited’s revenue has increased from Rs. 424 crore in Q4 FY24 to Rs. 493 crore in Q4 FY25, which has grown by 16.27 percent. The net profit has also grown by 164.29 percent, from Rs. 14 crore in Q4 FY24 to Rs. 37 crore in Q4 FY25.
RMC Switchgears Limited
With a market capitalization of Rs. 808.46 crore, the shares of HPL Electric and Power Limited closed at Rs. 768 per equity share, down nearly 2.05 percent from its previous day’s close price of Rs. 784.05.
RMC Switchgears Limited was established in 1994 as RFH Metal Castings Private Limited and was renamed in 2016. It specializes in designing and manufacturing enclosures for energy meters, distribution boxes, panels, and other power distribution and circuit protection products, serving utilities and infrastructure sectors.
The company is known for its switchgear-related offerings such as LT/HT distribution boxes, junction boxes, feeder pillars, and panels made from mild steel, stainless steel, and composite materials. These products are used for safe power distribution, circuit protection, and preventing electrical theft, supporting reliable and secure electricity supply in various applications.
RMC Switchgears Limited’s revenue has increased from Rs. 85 crore in H2 FY24 to Rs. 212 crore in H2 FY25, which has grown by 149.41 percent. The net profit has also grown by 200 percent, from Rs. 7 crore in H2 FY24 to Rs. 21 crore in H2 FY25.
Written By – Nikhil Naik
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