Suzlon vs Torrent Power vs Waaree Energies: Which Stock Should You Track

October 8, 2026
Posted by: Ankit Jaiswal
Category: Market

Suzlon Energy PE 18.62, mkt cap Rs 58,662 crore. Torrent Power PE 26.26, mkt cap Rs 62,746 crore. Waaree Energies PE 17.99, mkt cap Rs 71,999 crore.

Quick Answer

Suzlon Energy vs Torrent Power vs Waaree Energies is a side-by-side comparison of three companies from the Power and Renewable Energy space. On this comparison, Suzlon Energy carries a market capitalisation of about Rs 58,662 crore against Rs 62,746 crore for Torrent Power and Rs 71,999 crore for Waaree Energies, with return on equity of 33.43%, 12.67% and 25.71% respectively. Each company’s numbers are presented here without a declared better pick, since the right stock depends on an investor’s own criteria.

Suzlon Energy vs Torrent Power vs Waaree Energies starts with the core numbers most investors compare within the Power and Renewable Energy segment: market capitalisation, valuation multiples, profitability and dividend yield. Figures below are sourced as of October 2026 and will shift with daily price moves.

All three names sit in the Power and Renewable Energy bucket, which makes them a natural set to place side by side rather than a random trio of unrelated businesses.

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Table of Contents

Suzlon Energy, Torrent Power and Waaree Energies: Company Overview

Suzlon Energy is a listed Indian company in the Power and Renewable Energy space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.

Torrent Power is a listed Indian company in the Power and Renewable Energy space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.

Waaree Energies is a listed Indian company in the Power and Renewable Energy space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.

Suzlon Energy vs Torrent Power vs Waaree Energies: Valuation and Profitability Snapshot

Metric	Suzlon Energy	Torrent Power	Waaree Energies
Market Cap (approx.)	Rs 58,662 crore	Rs 62,746 crore	Rs 71,999 crore
PE Ratio (TTM)	18.62	26.26	17.99
PB Ratio	6.21	3.29	4.99
Return on Equity (ROE)	33.43%	12.67%	25.71%
EPS (TTM, Rs)	2.31	47.42	139.17
Dividend Yield	0.00%	1.61%	0.16%
Debt to Equity	0.06	0.73	0.22
Book Value per Share (Rs)	6.93	378.55	501.90

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On valuation, Suzlon Energy trades at a PE of 18.62 and a PB of 6.21, Torrent Power at a PE of 26.26 and a PB of 3.29, while Waaree Energies trades at a PE of 17.99 and a PB of 4.99. On return on equity, the three post 33.43%, 12.67% and 25.71% respectively, and on dividend yield they stand at 0.00%, 1.61% and 0.16%.

Suzlon Energy vs Torrent Power vs Waaree Energies: Latest Quarterly Results

Company	Latest Quarter Revenue	Latest Quarter Net Profit	YoY Change (Revenue)	QoQ Change (Revenue)
Suzlon Energy	Rs 3,862.53 crore	Rs 305.22 crore	+22.0%	-30.0%
Torrent Power	Rs 8,204.81 crore	Rs 661.85 crore	+2.4%	+26.7%
Waaree Energies	Rs 8,102.60 crore	Rs 891.87 crore	+76.3%	-6.4%

Quarterly figures above are the most recent reported quarter for each company (Q1 FY27, quarter ended June 2026), compared with the year-ago and preceding quarter.

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What Should Investors Look at Beyond These Numbers?

Beyond the metrics above, investors comparing these three power and renewable energy names should track quarter-on-quarter revenue and margin trends, management commentary on demand and cost drivers, and any sector-specific regulatory developments, since a single-quarter snapshot can shift quickly.

Conclusion

Suzlon Energy vs Torrent Power vs Waaree Energies highlights how differently three companies in the same power and renewable energy segment can score across valuation, profitability and dividend metrics, even when operating in a similar space. This comparison does not declare a winner; investors should weigh these figures against their own research and risk appetite. Please read the disclaimer below before making any investment decision.

Disclaimer: Data and figures in this article are sourced from publicly available information as of October 2026 and may not reflect real-time prices. Please verify all data independently before making any investment decision. This comparison does not recommend or endorse any single stock over another; investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).

FAQs on Suzlon Energy vs Torrent Power vs Waaree Energies

What is the market cap difference between Suzlon Energy, Torrent Power and Waaree Energies?

Ans. As of October 2026, Suzlon Energy has a market cap of approximately Rs 58,662 crore, Torrent Power is at approximately Rs 62,746 crore, and Waaree Energies is at approximately Rs 71,999 crore.

Which of the three has the highest PE ratio?

Ans. Among Suzlon Energy, Torrent Power and Waaree Energies, the PE ratios stand at 18.62, 26.26 and 17.99 respectively as of October 2026.

Which of the three has the highest ROE?

Ans. Suzlon Energy, Torrent Power and Waaree Energies post ROE of 33.43%, 12.67% and 25.71% respectively as of October 2026.

Which of these three stocks pays the highest dividend yield?

Ans. Suzlon Energy, Torrent Power and Waaree Energies carry dividend yields of 0.00%, 1.61% and 0.16% respectively.

What is the debt to equity ratio for Suzlon Energy, Torrent Power and Waaree Energies?

Ans. Suzlon Energy carries a debt to equity of 0.06, Torrent Power of 0.73, and Waaree Energies of 0.22.

Which of the three trades at the highest price to book value?

Ans. Suzlon Energy, Torrent Power and Waaree Energies trade at price to book ratios of 6.21, 3.29 and 4.99 respectively.

Is one of Suzlon Energy, Torrent Power or Waaree Energies better than the others?

Ans. This comparison does not declare one stock better than another; each company scores differently across valuation, profitability and dividend metrics, and the right fit depends on an individual investor’s own criteria and research.

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Author: Ankit Jaiswal

Ankit Jaiswal is the Senior Research Analyst at Univest, leading the platform's in-house equity research desk and serving as the editorial reviewer for all research and blog content published at univest.in. With 11+ years of experience in Indian equity markets, he oversees stock recommendations, earnings analysis, sector coverage, and ensures every published article meets SEBI Research Analyst Regulations. He holds a Bachelor of Commerce (B.Com) from St. Xavier's College, Kolkata — one of India's most prestigious commerce institutions — and has cleared CMT Level 2 from the CMT Association, a globally recognised certification in technical analysis and market research. His research methodology combines fundamental analysis (earnings quality, balance sheet strength, management commentary) with advanced technical analysis (chart patterns, momentum indicators, market structure) — giving Univest's retail investors a dual-lens approach that most Indian research platforms lack. Ankit is among the most comprehensively certified analysts in Indian financial media, holding five NISM certifications: Series-XV (Research Analyst), Series-VIII (Equity Derivatives), Series-VII (SORM), Series-VI (Depository Operations), and Series-V-A (Mutual Fund Distributors). At Univest — India's SEBI-registered research and advisory platform — Ankit's responsibilities include leading the research team, finalising stock recommendations published across Pro Lite, Pro Super, and Pro Gold advisory services, and maintaining editorial oversight of all YMYL financial content published on the blog.