Synopsis: India’s leading BESS-linked companies witnessed a transformative FY26, supported by rising storage tenders, project awards, renewable integration needs, and accelerating investments in the country’s emerging energy storage ecosystem.
Battery Energy Storage Systems (BESS) have emerged as a critical pillar of India’s energy transition, enabling reliable integration of solar and wind power into the grid. Industry estimates suggest India’s installed BESS capacity could surge from less than 1 GWh currently to nearly 346 GWh by 2033, supported by over 90 GWh of projects already in the pipeline. The government expects energy storage requirements to exceed 60 GW by 2030, while the sector could attract investments of nearly ₹4.8 lakh crore by 2032, creating a substantial long-term growth opportunity.
Tata Power Company Ltd
Tata Power is one of India’s largest integrated power companies, operating across power generation, transmission, distribution, renewable energy, solar manufacturing, EV charging, and energy services. The company is actively expanding its clean energy portfolio through solar, wind, hydro, and battery energy storage projects, positioning itself as a key beneficiary of India’s energy transition and grid modernization initiatives.
With the market capitalization of Rs. 1,26,025 Crores, the shares of Tata Power Company Ltd were trading at around Rs. 394 per share which is 15 percent discount from its 52 week high of Rs. 465 per share and is trading at a P/E of 33.1 whereas industry P/E stands at 31.7
Revenue from operations has decreased from Rs. 65,478 Crores in FY25 to Rs. 62,429 Crores in FY26, down 4.6 percent. Operating profit has increased from Rs. 12,166 Crores to Rs. 13,095 Crores, up 7.6 percent and net profit has increased from Rs. 4775 Crores to Rs. 5118 Crores, up 7 percent.
Adani Green Energy Ltd
Adani Green Energy is among India’s largest renewable energy developers, with a diversified portfolio spanning utility-scale solar, wind, hybrid, and energy storage projects. The company is playing a significant role in India’s clean energy transition through large renewable parks, integrated storage solutions, and long-term power supply agreements, while pursuing ambitious capacity expansion plans to support growing demand for green electricity.
With the market capitalization of Rs. 2,44,565 Crores, the shares of Adani Green Energy Ltd were trading at around Rs. 1486 per share which is 4 percent discount from its 52 week high of Rs. 1545 per share and is trading at a P/E of 134 whereas industry P/E stands at 28.2
Revenue from operations has increased from Rs. 11,212 Crores in FY25 to Rs. 12,928 Crores in FY26, up 15 percent. Operating profit has increased from Rs. 8889 Crores to Rs. 10,785 Crores, up 21 percent and net profit has decreased from Rs. 2001 Crores to Rs. 1987 Crores, down 0.7 percent.
Waaree Energies Ltd
Waaree Energies is India’s largest solar photovoltaic module manufacturer, with a growing presence across solar cell manufacturing, EPC services, project development, and energy storage solutions. The company benefits from rising domestic renewable energy demand, government incentives for local manufacturing, and increasing adoption of integrated solar-plus-storage projects across utility, commercial, and industrial segments.
With the market capitalization of Rs. 86,820 Crores, the shares of Waaree Energies Ltd were trading at around Rs. 3018 per share which is 22 percent discount from its 52 week high of Rs. 3865 per share and is trading at a P/E of 22 whereas industry P/E stands at 28.4
Revenue from operations has increased from Rs. 14,444 Crores in FY25 to Rs. 26,537 Crores in FY26, up 83 percent. Operating profit has increased from Rs. 2,722 Crores to Rs. 5909 Crores, up 117 percent and net profit has increased from Rs. 1928 Crores to Rs. 3884 Crores, up 101 percent.
Sterling & Wilson Renewable Energy Ltd:
Sterling and Wilson Renewable Energy is a leading renewable energy EPC company specializing in utility-scale solar projects, hybrid energy systems, and emerging battery energy storage solutions. Operating across multiple geographies, the company provides end-to-end engineering, procurement, construction, and operations services, positioning itself to benefit from growing global investments in renewable energy infrastructure and grid-scale storage projects.
With the market capitalization of Rs. 4700 Crores, the shares of Sterling & Wilson Renewable Energy Ltd were trading at around Rs. 201 per share which is 42 percent discount from its 52 week high of Rs. 349 per share and is trading at a P/E of 18.1 whereas industry P/E stands at 17.4
Revenue from operations has increased from Rs. 6302 Crores in FY25 to Rs. 7548 Crores in FY26, up 19 percent. Operating profit has increased from Rs. 264 Crores to Rs. 302 Crores, up 14 percent and net profit has turned into a loss Rs. 289 Crores from profit of Rs. 86 Crores.
KPI Green Energy Ltd:
KPI Green Energy is a renewable energy company engaged in solar power generation, project development, and captive power solutions for industrial customers. The company is expanding its presence in hybrid renewable projects and battery energy storage systems, supported by a growing project pipeline and increasing demand for reliable clean energy solutions across India.
With the market capitalization of Rs. 7713 Crores, the shares of KPI Green Energy Ltd were trading at around Rs. 391 per share which is 30 percent discount from its 52 week high of Rs. 563 per share and is trading at a P/E of 16.2 whereas industry P/E stands at 28.2
Revenue from operations has increased from Rs. 1735 Crores in FY25 to Rs. 2696 Crores in FY26, up 55 percent. Operating profit has increased from Rs. 564 Crores to Rs. 958 Crores, up 69 percent and net profit has increased from Rs. 325 Crores to Rs. 509 Crores, up 56 percent.
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