The renewable energy and transmission sectors continue to present promising growth opportunities, highlighted by Power Grid’s planned capital expenditure of Rs. 2 lakh crore (~$23.1 billion). India is targeting an investment of Rs. 9,15,920 crore ($107 billion) by 2032 to expand its transmission network an essential step toward nearly tripling its clean power capacity.
To further strengthen this push, the Government of India has approved new Inter-State Transmission System (ISTS) projects to evacuate 9 GW of renewable energy from Rajasthan and Karnataka. These projects will be executed through the Tariff-Based Competitive Bidding (TBCB) mechanism and form part of the broader goal of achieving 500 GW of renewable energy capacity by 2030, of which 200 GW is already operational.
Following are a few stocks in the transmission sector with an order book of upto Rs. 65,000 crores as of Q4 FY25:
Skipper Limited
With a market cap of Rs. 5,483 crores, the stock moved up by nearly 2 percent on BSE to close in the green at Rs. 486 on Friday. As of March 2025, the company reported a closing order book of Rs. 7,458 crores, a 20 percent increase compared to the previous year. This marks the highest order book in the company’s history, offering strong revenue visibility for the next 18 to 24 months.
Export orders saw strong momentum, particularly from the U.S., Latin America, the Middle East, and South Asia. On the domestic front, the company secured significant contracts from POWERGRID, including the prestigious 800 kV HVDC project, along with multiple high-voltage assignments at the 765 kV and 400 kV levels.
Skipper Limited is engaged in the manufacturing and selling of Transmission & Distribution (T&D) structures (Towers & Poles), telecom towers and fasteners being its engineering products segment and PVC, HDPE, CPVC, UPVC, SWR pipes & fittings, water tanks, bath fittings and other related products being its polymer segment. It is also involved in the execution of EPC projects under its infrastructure segment.
CG Power & Industrial Solutions Limited
With a market cap of Rs. 1.05 lakh crores, the stock moved up by nearly 3.2 percent on BSE to close in the green at Rs. 688.45 on Friday. For FY25, the company recorded an order intake of Rs. 13,526 crores, reflecting a strong 35 percent year-on-year growth, and for Q4 FY25, the order intake stock at Rs. 3,650 crores (20 percent growth YoY). As of March 2025, the unexecuted order backlog stood at Rs. 9,909 crores, an impressive 58 percent increase compared to the previous year.
CG Power and Industrial Solutions Limited is an engineering conglomerate and a leader in the Electrical Engineering Industry. It has two business lines, Industrial Systems and Power Systems.
CG’s Power Systems business focuses on Power Transmission and Distribution, and the setting up of integrated power systems and associated service businesses. The business also offers turnkey solutions for T&D through substation projects, and as an EPC services provider, as well as other end-to-end services involving the entire value chain.
KEC International Limited
With a market cap of Rs. 23,905 crores, the stock moved up by nearly 1 percent on BSE to close in the green at Rs. 898 on Friday. As of March 2025, the company’s total order book stood at Rs. 40,000 crores. Of this, the T&D segment led with Rs. 24,500 crores, followed by Rs. 10,000 crores from the Civil segment. The Transportation business contributed Rs. 3,600 crores, while the Cables and Renewables segments added Rs. 1,000 crores and Rs. 500 crores, respectively. The Oil & Gas segment accounted for Rs. 400 crores.
KEC International Limited is primarily engaged in the Engineering, Procurement and Construction (EPC) business relating to infrastructure, interalia products, projects and systems and related activities for power transmission, distribution, railway, civil, cable and other EPC businesses.
Kalpataru Projects International Limited
With a market cap of Rs. 19,861 crores, the stock moved down by nearly 2.4 percent on BSE to close in the red at Rs. 1,163 on Friday. By the end of Q4 FY25, the company’s consolidated order book had reached Rs. 64,495 crores, reflecting a strong CAGR growth of 25 percent from Rs. 32,761 crores in FY22. Additionally, the company recorded an order inflow of Rs. 25,475 crores in FY25. Of the total order book, the Transmission & Distribution (T&D) segment remained the largest contributor, accounting for 41 percent or Rs. 26,671 crores.
Kalpataru Projects International Limited, formerly known as Kalpataru Power Transmission Limited, is a global EPC player with diversified interests in buildings and factories, power transmission and distribution, roads and bridges, water pipelines, railway track laying and electrification, oil & gas pipelines laying, etc.
Written by Shivani Singh
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