Companies making electric vehicles or supplying EV-specific components, per their own annual reports — tiered so an EV maker and a company with an announced EV plan never look the same.
Core — the theme IS a principal business todayGrowing — real operations, not yet the main businessAnnounced — committed plans or orders, little revenue yetMention-only — appears only as outlook language
Hitachi Energy IndiaHeavy Electrical EquipmentAnnounced₹1.52 L CrP/E 128.7 vs 33.9ROCE 24.7%
EV charging ecosystem is identified as a high-growth segment the company is assessing via its go-to-market strategy, with no stated current revenue.
“GTM strategy to assess the high growth segments like data center, energy storage, green hydrogen, EV charging ecosystem,etc.”
Torrent PowerIntegrated Power UtilitiesAnnounced₹62,811 CrP/E 32.7 vs 30.5ROCE 9.3%
Torrent Power has identified EV charging infrastructure as a new-age business to selectively build, prioritising charging point connections in its licensed and franchised distribution areas.
“Explore emerging business opportunities such as hydrogen, storage and EV infrastructure”
Company is building a new greenfield EV manufacturing facility on 150 acres near Hyderabad, indicating a committed expansion in electric-vehicle manufacturing.
“Greenfield EV Manufacturing Facility under Construction on 150 Acres of Land situated at Near by Seetharampur, Chevella, Via Shabad Road, Hyderabad-509 217, Telangana.”
Muthoot Cap ServNon Banking Financial Company (NBFC)Announced₹416 CrP/E 16.0 vs 17.5
MCSL has signed a Preferred Financier Agreement with Greaves Electric Mobility (and an MoU with BGauss Auto, p35) to finance electric two-wheeler purchases, representing newly announced EV financing partnerships.
“POWERING THE FUTURE OF E-MOBILITY TOGETHER Muthoot Capital Services Ltd. is delighted to announce the signing of a Preferred Financier Agreement with Greaves Electric Mobility Limited in Bengaluru.”
How this list is built
Definition used: Manufactures or sells electric vehicles, or supplies EV-specific components: traction motors, power electronics, EV batteries, charging infrastructure.Membership is extracted from each company’s newest annual report; every quote is validated against the report page before publishing, and core/growing tiers are confirmed by a second independent read (marked ). Companies whose reports our corpus hasn’t read yet simply aren’t listed — absence means unread, not “no exposure”.
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