Top Solar Companies Stock in India 2023
STOCK OF SOLAR COMPANIES IN INDIA
Solar energy is a popular topic these days due to its ease of use and benefits to the environment, solar energy production, and finance, as many solar companies have stocks for the same. The primary source of soil and water pollution is the use of coal, oil, and gas.
These are the concerns that are increasing the importance of using clean and renewable energy sources around the world. However, the government is also encouraging the use of renewable and solar energy. In India, numerous companies work with renewable resources such as solar panels and windmills. This article will help you! Investigate the top solar companies. India Stock Exchange
List of Solar Companies Stock In India
Adani Power Limited
Adani Power is a utility company that is part of the Adani group. This company was established in 1996 and is headquartered in Ahmedabad. Adani Power is a thermal power producer with a capacity of 12,450 MW that also operates a 40 MW mega solar plant in Kutch, Gujarat. The Kamuthi Solar Power Project, one of the world’s largest solar photovoltaic plants, is managed by the company. They intend to invest 75,000 crores in the solar energy sector by 2024. Adani Power Limited’s stock price target is 197.9 on the downside and 206.9 on the upside. They have a market capitalization of 793.57 billion INR, a three-year return of 573.94%, and a five-year return of 55%.
Tata Power is a utility company that is part of the Tata Group. This company, headquartered in Mumbai, was founded in 1919. Tata Power operates in 35 different locations across India. Tata Power’s main business is to generate, transmit, and distribute electricity, as well as to explore natural gas. It is India’s largest integrated power company, with a total installed capacity of 14,076 MW. Their net income is approximately $2,156 million, with revenue of 42,576 million expected in 2022. They have a $7.77 billion market capitalization, a 3-year return of 530.67%, and a 3-year CAGR of 5.20%.
Waaree Energies Limited
Waaree Energies is the Waaree Group’s flagship company. This company was established in 1989 and is headquartered in Mumbai. It has the largest Solar PV Module manufacturing capacity in India, with 12 GWs at its Gujarat plants in Surat and Umbergaon. They are a market leader in Solar Panel Manufacturing, EPC Services, Project Development, Rooftop Solutions, Solar Water Pumps, and Independent Power Producers in India. They have a revenue of more than $500 million. They have a market capitalization of 256.28 billion, a one-year sales turnover of 153.56 billion, and a one-year CAGR of 167%.
Gyanesh Chaudhary owns this company. This company was established in 2006 and is headquartered in Kolkata, India. With 3.5 GW of module manufacturing capacity annually, it is India’s largest solar module manufacturer and the second-largest solar energy company by revenue. They are the second-largest solar energy company in India by revenue and one of the largest solar module manufacturers in India, with a 3.5 GW module manufacturing capacity annually. They have a market capitalization of 10664 billion rupees, a one-year sales turnover of 1,577 billion rupees, and a one-year CAGR of 189%.
Urja Global Limited
Urja Global is a small capital company headquartered in Delhi that was founded in 1992. It is a Non-Renewable and Renewable Energy developer and operator in India, as well as a certified leading integrated solar power company. They provide off-grid and grid-connected solar power plant design, consulting, integration, supply, installation, and maintenance. Their primary focus is on the development and operation of renewable energy, equipment, and services. They have a market capitalization of 457.77 crores, a one-year return of -59.42%, and a five-year CAGR of 7.41%.
Websol Energy Systems Ltd.
Websol Energy Systems is a small capital company headquartered in West Bengal that was founded in 1990. Websol Energy Systems is a manufacturer, supplier, and distributor of solar cells, modules, and other solar products. They primarily manufacture photovoltaic monocrystalline solar cells, which aid in the conversion of sunlight into electricity. They have a market capitalization of 326.48 billion, a one-year return of -25.2%, and a five-year CAGR of -1.15%. The company’s net profit is 4.41%. Websol Energy System’s stock price target is 77.23 on the downside and 80.13 on the upside.
Ujaas Energy Ltd.
Ujaas Energy is a small capital company headquartered in Indore, Madhya Pradesh, that was founded in 1979. It is one of the most established companies in the renewable energy industry. The company aspires to be a pioneer in the “Generation of Green Energy.” They manufacture distribution transformers as well as furnace transformers. In March 2012, they were the first company to install a solar power plant using a renewable energy certificate mechanism. They have a market capitalization of 38.06 billion, a one-year return of -62.86%, and a five-year CAGR of – 37.03%. 83.86% is the debt-to-equity ratio.
According to statistics, solar power will soon become one of the most important contributors to India’s massive power demand. Solar power will aid in meeting our shining nation’s ever-increasing power demands. Despite the challenges and the recent economic downturn in February and March 2023, India’s solar energy sector is on the rise. And it appears that, as climate concerns grow, the demand for renewable energy resources may rise as well. However, before investing in any stock, make sure to examine its financials as well as its potential for growth within the company and in the sector.