Five power grid stocks riding India’s energy transition

India's total power generation capacity reached 520.51 GW by January 2026 with renewables making up nearly 50 percent of installed capacity, while power shortages fell from 4.2 percent in FY14 to 0.03 percent by December 2025, creating strong demand for grid equipment suppliers. Hitachi Energy India posted Q4 FY26 net sales of Rs 2,754 crore and PAT of Rs 113 crore with FY26 orders worth Rs 18,456 crore, and announced an additional Rs 2,000 crore capex for a greenfield facility in Gujarat. CG Power reported 46 percent YoY growth in Power Systems revenue to Rs 5,138 crore with order intake up 69 percent to Rs 11,210 crore, backed by a Rs 640 crore transformer order from Power Grid and a Rs 750 crore greenfield switchgear expansion.