Companies manufacturing wind turbines or owning wind generation, per their own reports.
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
Larsen & ToubroCivil ConstructionGrowing₹5.63 L CrP/E 33.0 vs 15.4ROCE 11.9%
L&T has a dedicated Offshore Wind business vertical as one of four verticals within its Energy segment.
“Your Company pursues growth opportunities in this sector through four distinct business verticals: Hydrocarbon Onshore, Hydrocarbon Offshore, Offshore Wind and CarbonLite Solutions.”
NTPCPower GenerationGrowing₹3.30 L CrP/E 10.3 vs 22.3ROCE 5.5%
NTPC has 893 MW of commissioned wind capacity and 5,637 MW under execution, with continued investment in wind and hybrid renewable projects.
“The Company is further strengthening its renewable footprint with 15,040 MW of capacity under execution, comprising 9,403 MW of solar projects and 5,637 MW of wind projects.”
+1 more quote from the report
“NTPC had 15,040 MW of renewable capacity under execution as of 31 March 2026, including 9,403 MW of solar projects and 5,637 MW of wind projects.”
ONGC's subsidiary ONGC Green Limited acquired 288.8 MW of operating wind plants and additional capacity through the Ayana acquisition, raising group renewable capacity to 2.5 GW.
“OGL acquired PTC Energy Ltd. (now OGL One Limited), adding seven wind plants with 288.8 MW capacity in Madhya Pradesh, Karnataka, and Andhra Pradesh.”
Grasim IndustriesCement & Cement ProductsGrowing₹2.25 L CrP/E 37.5 vs 23.2ROCE 3.2%
Aditya Birla Renewables operates wind capacity as part of a pan-India renewable energy portfolio serving utilities and C&I customers.
“Built on a strong foundation in solar, wind, hybrid, and emerging storage-led solutions, the business has developed a pan-India renewable energy portfolio across multiple states and serves both government utilities and commercial and industrial (C&I) customers.”
CG Power And Ind SolHeavy Electrical EquipmentGrowing₹1.37 L CrP/E 105.0 vs 33.9ROCE 19.2%
CG supplies generators and components for wind turbines, and has supplied power transformers for wind farms (e.g., 143 MVA unit in the U.S.), but wind is not the main business.
“In the renewable energy space, CG strengthened its contribution to clean power generation through the supply of generators and components for windmill applications.”
GailGas Transmission/MarketingGrowing₹1.13 L CrP/E 16.2ROCE 7.0%
GAIL operates ~118 MW of installed wind energy capacity, the bulk of its 154 MW renewable energy portfolio, complementing its core natural gas business.
“~118 MW is from Wind Energy”
+1 more quote from the report
“Wind Capacity of 118 MW Renewables Portfolio”
Bharat ForgeAuto Components & EquipmentsGrowing₹98,639 CrP/E 93.0 vs 26.9ROCE 13.2%
Bharat Forge manufactures critical components for wind power generation as part of its Industrial business segment.
“Proven capability in delivering critical components for thermal, wind, hydro and nuclear power systems”
Oil IndiaOil Exploration & ProductionGrowing₹77,264 CrP/E 11.7 vs 42.5ROCE 7.9%
OIL operates multiple commissioned wind power projects (54 MW Rajasthan, 38 MW Madhya Pradesh, 16 MW Gujarat, 13.6 MW Rajasthan) contributing to its renewable generation business.
“Commissioned 54 MW Wind Power project in Rajasthan”
NHPCPower GenerationGrowing₹76,493 CrP/E 22.8 vs 22.3ROCE 2.7%
NHPC operates a 50 MW commissioned wind power station in Rajasthan as part of its generation asset base.
“Rajasthan Wind Power 50 2016-17”
+1 more quote from the report
“NHPC, as the country's premier hydropower developer, is well positioned to capture this opportunity while continuing to diversify into solar, wind and green hydrogen, in line with its stated vision of becoming a fully diversified green energy major.”
Torrent PowerIntegrated Power UtilitiesGrowing₹62,811 CrP/E 32.7 vs 30.5ROCE 9.3%
Wind is a live operational renewable segment for Torrent Power with reporting PLFs, forming part of the company's renewable mix alongside solar and hybrid projects targeting 10 GW by 2030.
“wind PLF remained broadly stable, increasing marginally from 24.2% to 24.5% due to higher wind speeds.”
SJVNPower GenerationGrowing₹25,976 CrP/E 122.4 vs 22.3ROCE 2.8%
SJVN operates 97.60 MW of wind power capacity at Khirvire (Maharashtra, 47.60 MW) and Sadla (Gujarat, 50 MW) wind power stations as part of its diversified renewables portfolio.
“Sub-total (Wind)
97.60”
+2 more quotes from the report
“Wind projects, including wind-solar hybrids, will be established in Tamil Nadu, Karnataka, and Andhra Pradesh.”
“SJVN aims to build 1,500+ MW of wind projects by 2030.”
Mtar TechnologiesOther Electrical EquipmentGrowing₹21,593 CrP/E 136.7 vs 25.2ROCE 12.4%
Wind energy is a growing vertical: MTAR manufactures rotor and stator assemblies for wind energy customers as part of its clean energy segment, with revenue expected from this combined hydro/wind/others segment.
“Our strategic initiatives are focused on supplying critical products such as draft tubes and spiral casings to hydropower customers, and rotor and stator assemblies to wind energy customers.”
GMDC operates 200.9 MW across seven wind power projects, generating ₹122.70 crore in revenue and ₹38.59 crore PBT in FY25, with an additional 135 MW wind project announced under a GACL hybrid JV.
“The wind portfolio alone produced 320.92 MU, with a plant load factor (PLF) of 18.24% and machine availability (MA) of 90.82%, generating `122.70 crore in revenue and `38.59 crore in profit before tax.”
Kpi Green EnergyPower GenerationGrowing₹6,185 CrP/E 11.8 vs 22.3ROCE 8.8%
Wind generation is part of the company's current hybrid IPP/CPP portfolio (243+ MW hybrid energised) but is bundled with solar rather than operated as a standalone wind business.
“we have expanded into hybrid renewable projects, integrating solar and wind power.”
+2 more quotes from the report
“Our disciplined approach to project execution has fuelled consistent growth and enabled us to surpass targeted returns. We possess proven expertise in turnkey engineering, procurement, and construction (EPC) for both solar and hybrid renewable projects. Additionally, we excel in wind”
“Our business pipeline includes more than 2.96+ GW of projects spanning various segments, comprising an Independent Power Producer (IPP) capacity pipeline of over 1.20+ GW and a Captive Power Producer (CPP) capacity pipeline exceeding 1.75+ GW. This portfolio covers both solar and hybrid renewable energy projects, with Hybrid projects pipeline at 1.14+ GW.”
Yuken India owns a subsidiary, AEPL Grotek Renewable Energy Private Limited, which is engaged in commercial wind power generation, representing real wind-energy exposure outside its core hydraulic business.
“AEPL Grotek Renewable Energy Private Limited (engaged in the generation of wind power).”
Munjal Auto Ind.Auto Components & EquipmentsGrowing₹1,152 CrP/E 44.7 vs 26.9ROCE 8.7%
Subsidiary Indutch Composites operates in wind energy and advanced composites manufacturing, posting ₹857 crore revenue in FY26 and expanding mould capacity, supporting MAIL's diversification.
“Indutch Composites Technology Private Limited posted a turnover of ` 857 crore in FY26, reflecting strong execution in the wind energy and advanced composites segments.”
Acknit IndustriesOther Textile ProductsGrowing₹105 CrP/E 12.8 vs 15.3ROCE 9.9%
Wind power generation is a listed business segment of Acknit Industries, contributing Rs. 30.24 Lakhs in revenue in FY2025-26 (vs. Rs. 33.02 Lakhs in FY2024-25), though management is evaluating continued viability as the windmill nears end-of-life.
“Power generation by operation of wind mills to supply on commercial base”
+1 more quote from the report
“Power generation by operation of wind mills to supply on commercial base”
Ad-manum FinanceNon Banking Financial Company (NBFC)Growing₹39 CrP/E 3.9 vs 17.5
Operates a windmill power-generation business as one of two segments alongside its primary NBFC lending activity.
“Your company works in 2 (Two) Segments related i.e. (i) NBFC Activity and (ii) Power Generation business (Windmill).”
+2 more quotes from the report
“51.2 To promote, finance, invest in and/or own projects for generation of power from solar, wind, hydro and other renewable energy sources, whether grid-connected or off-grid, directly or through SPVs”
“Your company, being a Non-Banking Financial Company and generating power from the Windmills has no activities involving conservation of energy.”
How this list is built
Definition used: Manufactures wind turbines or components, or develops/owns/operates wind generation capacity AS A BUSINESS (selling power or capacity). Captive wind capacity for the company's own consumption does NOT qualify.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”.
MarketPing publishes facts, filings and measured history only — nothing on this page is investment advice, a recommendation or a rating.