3 Transmission Equipment Maker, Wire Manufacturer and Fan and Heater Brand Stocks With a Strong Future Roadmap: Atlanta Electricals, KEI Industries and V-Guard Industries
- October 23, 2026
- Posted by: Harsh Piplani
- Category: Best Stocks
Atlanta Electricals, KEI Industries and V-Guard Industries: ROE of 13.0% to 21.7% and FY22 to FY26 revenue CAGR of 14.3% to 33.0%. Prices as of 22 Oct 2026.
Quick Answer
The three transformer, cable and electricals stocks to watch are Atlanta Electricals, KEI Industries and V-Guard Industries. Their return on equity ranges from 13.0% to 21.7%, and their revenue compound annual growth from FY22 to FY26 ranges from 14.3% to 33.0%. Atlanta Electricals leads on both return on equity at 21.7% and revenue growth at 33.0% a year. Prices are based on the 22 October 2026 close, and this article is educational, not investment advice.
Transformer, cable and electricals stocks let investors follow companies that carry power to homes and factories. Atlanta Electricals, KEI Industries and V-Guard Industries cover power transformers, cables and wires and consumer electricals such as stabilisers, fans and water heaters.
This list covers three transformer, cable and electricals stocks with complete current figures: Atlanta Electricals, KEI Industries and V-Guard Industries. Every figure comes from the latest reported financials and the 22 October 2026 market close. Companies without complete current figures were left out.
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What Are Transformer, Cable and Electricals Stocks?
Transformer, cable and electricals stocks are listed companies that make power equipment, cables and household electrical products. Their earnings depend on order books, retail demand and metal costs.
Transformer, Cable and Electricals Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Atlanta Electricals | 1,688.6 | 12,995 | 59.8 | 43.9 | 21.7 | 0.05 |
| KEI Industries | 3,873 | 42,514 | 42.6 | 45.1 | 13.8 | 0.04 |
| V-Guard Industries | 272.55 | 12,446 | 34.1 | 43.9 | 13.0 | 0.07 |
On valuation, KEI Industries and V-Guard Industries trade at a P/E below the industry P/E, while Atlanta Electricals trades above it, which reflects the growth the market already expects. Readers comparing transformer, cable and electricals stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Transformer, Cable and Electricals Stocks Have a Strong Roadmap in India?
Transformer, cable and electricals stocks have a strong roadmap in India because grid upgrades, new housing and rising appliance use keep lifting demand across the electrical chain.
- Grid upgrades. Utilities add transformers and cables to carry more power.
- Housing growth. Wires, fans and heaters grow with new homes.
- Brand reach. Wide dealer networks support repeat sales.
Why Atlanta Electricals Features Among These Transformer, Cable and Electricals Stocks
Among the transformer, cable and electricals stocks on this list, Atlanta Electricals, based in Gujarat, manufactures power and distribution transformers and related electrical equipment for utilities and industrial customers.
The company has a return on equity of 21.7%, a debt to equity ratio of 0.05 and a market capitalisation of Rs 12,995 crore. The stock trades at a P/E of 59.8, above the industry P/E of 43.9.
Revenue rose from Rs 597 crore in FY22 to Rs 1,867 crore in FY26, a compound annual growth rate of 33.0%. Net profit grew from Rs 87.5 crore in FY23 to Rs 202 crore in FY26, which works out to a compound annual growth rate of 32.1%. In the June 2026 quarter, revenue grew 47.6% year on year to Rs 469 crore, while net profit rose 50.4% to Rs 46.8 crore.
Roadmap: Transmission and distribution spending, rising electricity demand and renewable power connections keep the transformer order book active. The company is adding capacity to meet this demand and to serve larger customers.
What to watch: Monitor order backlog conversion and the pace of capacity additions.
Why KEI Industries Features Among These Transformer, Cable and Electricals Stocks
Among the power cable and equipment shares on this list, KEI Industries makes power cables, house wires, and extra high voltage cables, and also offers engineering, procurement and construction services for power projects.
Revenue rose from Rs 5,742 crore in FY22 to Rs 11,906 crore in FY26, a compound annual growth rate of 20.0%. Net profit grew from Rs 376 crore in FY22 to Rs 918 crore in FY26, which works out to a compound annual growth rate of 25.0%.
In the June 2026 quarter, revenue grew 21.9% year on year to Rs 3,205 crore, while net profit rose 40.0% to Rs 274 crore. The company has a return on equity of 13.8%, a debt to equity ratio of 0.04 and a market capitalisation of Rs 42,514 crore. The stock trades at a P/E of 42.6, below the industry P/E of 45.1.
Roadmap: The company benefits from the demand for cables in power transmission, housing and industrial projects, and is expanding capacity to meet it. Rising exports and the shift to branded wires add further growth drivers.
What to watch: Check the capacity additions and the share of the retail business in revenue.
Why V-Guard Industries Features Among These Transformer, Cable and Electricals Stocks
Among the three companies on this list, V-Guard Industries is a Kochi-based consumer electricals company that makes voltage stabilisers, inverters, water heaters, fans, kitchen appliances, wires and cables, and solar water heaters.
In the June 2026 quarter, revenue grew 23.9% year on year to Rs 1,822 crore, while net profit rose 76.4% to Rs 130 crore. Revenue rose from Rs 3,511 crore in FY22 to Rs 5,989 crore in FY26, a compound annual growth rate of 14.3%.
Net profit grew from Rs 228 crore in FY22 to Rs 308 crore in FY26, which works out to a compound annual growth rate of 7.8%. The company has a return on equity of 13.0%, a debt to equity ratio of 0.07 and a market capitalisation of Rs 12,446 crore. The stock trades at a P/E of 34.1, below the industry P/E of 43.9.
Roadmap: The company is widening its distribution beyond South India and growing newer categories such as kitchen appliances and cables. Strong brand recall and a growing dealer network support sales across its product basket.
What to watch: Check growth outside South India and the contribution of newer product categories.
Atlanta Electricals vs KEI Industries vs V-Guard Industries on Key Financials
The table below sets the three transformer, cable and electricals stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| Atlanta Electricals | 597 | 1,867 | 33.0% | 202 | 10.8% |
| KEI Industries | 5,742 | 11,906 | 20.0% | 918 | 7.7% |
| V-Guard Industries | 3,511 | 5,989 | 14.3% | 308 | 5.1% |
Atlanta Electricals posts the highest return on equity in this group at 21.7%. KEI Industries has the largest FY26 revenue at Rs 11,906 crore, and Atlanta Electricals shows the fastest revenue growth with a 33.0% compound annual rate. A useful habit with transformer, cable and electricals stocks is to check each new quarterly result against the capacity plans the company described earlier.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| Atlanta Electricals | 318 | 469 | 47.6% |
| KEI Industries | 2,630 | 3,205 | 21.9% |
| V-Guard Industries | 1,471 | 1,822 | 23.9% |
Key Risks to Check Before Investing in Transformer, Cable and Electricals Stocks
Every theme carries risks that deserve a check before any decision. For these transformer, cable and electricals stocks, the main points are: Long-term power cable and equipment shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Metal prices. Copper and aluminium costs affect margins.
- Order timing. Large project orders can shift between quarters.
- Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter transformer, cable and electricals stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Transformer, Cable and Electricals Stocks
Transformer, cable and electricals stocks reward investors who follow order books, retail demand and metal costs together. Atlanta Electricals, KEI Industries and V-Guard Industries each tap a different part of the power chain. Based on the 22 October 2026 close, Atlanta Electricals trades at Rs 1,688.6, KEI Industries at Rs 3,873 and V-Guard Industries at Rs 272.55. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these transformer, cable and electricals stocks to a watchlist.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. 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).
What are transformer, cable and electricals stocks?
Ans. Transformer, cable and electricals stocks are listed companies that make power equipment, cables and household electrical products. Their earnings depend on order books, retail demand and metal costs. This list looks at three of them, Atlanta Electricals, KEI Industries and V-Guard Industries, using reported FY22 to FY26 financials and the 22 October 2026 closing prices.
Which transformer, cable and electricals stocks are covered in this list?
Ans. This list covers Atlanta Electricals, KEI Industries and V-Guard Industries. Based on the 22 October 2026 close, Atlanta Electricals traded at Rs 1,688.6, KEI Industries at Rs 3,873 and V-Guard Industries at Rs 272.55. Their return on equity ranges from 13.0% to 21.7%, and their revenue compound annual growth from FY22 to FY26 ranges from 14.3% to 33.0%.
Why do transformer, cable and electricals stocks have a strong future roadmap in India?
Ans. Transformer, cable and electricals stocks have a strong roadmap in India because grid upgrades, new housing and rising appliance use keep lifting demand across the electrical chain. The main drivers are as follows. Grid upgrades. Utilities add transformers and cables to carry more power. Housing growth. Wires, fans and heaters grow with new homes. Brand reach. Wide dealer networks support repeat sales. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Atlanta Electricals performed financially?
Ans. Revenue rose from Rs 597 crore in FY22 to Rs 1,867 crore in FY26, a compound annual growth rate of 33.0%. Net profit grew from Rs 87.5 crore in FY23 to Rs 202 crore in FY26, which works out to a compound annual growth rate of 32.1%. In the June 2026 quarter, revenue grew 47.6% year on year to Rs 469 crore, while net profit rose 50.4% to Rs 46.8 crore. The company has a return on equity of 21.7%, a debt to equity ratio of 0.05 and a market capitalisation of Rs 12,995 crore. The stock trades at a P/E of 59.8, above the industry P/E of 43.9. Looking ahead, transmission and distribution spending, rising electricity demand and renewable power connections keep the transformer order book active. The company is adding capacity to meet this demand and to serve larger customers.
How has KEI Industries performed financially?
Ans. Revenue rose from Rs 5,742 crore in FY22 to Rs 11,906 crore in FY26, a compound annual growth rate of 20.0%. Net profit grew from Rs 376 crore in FY22 to Rs 918 crore in FY26, which works out to a compound annual growth rate of 25.0%. In the June 2026 quarter, revenue grew 21.9% year on year to Rs 3,205 crore, while net profit rose 40.0% to Rs 274 crore. The company has a return on equity of 13.8%, a debt to equity ratio of 0.04 and a market capitalisation of Rs 42,514 crore. The stock trades at a P/E of 42.6, below the industry P/E of 45.1. Looking ahead, the company benefits from the demand for cables in power transmission, housing and industrial projects, and is expanding capacity to meet it. Rising exports and the shift to branded wires add further growth drivers.
How has V-Guard Industries performed financially?
Ans. Revenue rose from Rs 3,511 crore in FY22 to Rs 5,989 crore in FY26, a compound annual growth rate of 14.3%. Net profit grew from Rs 228 crore in FY22 to Rs 308 crore in FY26, which works out to a compound annual growth rate of 7.8%. In the June 2026 quarter, revenue grew 23.9% year on year to Rs 1,822 crore, while net profit rose 76.4% to Rs 130 crore. The company has a return on equity of 13.0%, a debt to equity ratio of 0.07 and a market capitalisation of Rs 12,446 crore. The stock trades at a P/E of 34.1, below the industry P/E of 43.9. Looking ahead, the company is widening its distribution beyond South India and growing newer categories such as kitchen appliances and cables. Strong brand recall and a growing dealer network support sales across its product basket.
What risks should investors check before buying transformer, cable and electricals stocks?
Ans. Investors should check a few risks before buying transformer, cable and electricals stocks. Metal prices. Copper and aluminium costs affect margins. Order timing. Large project orders can shift between quarters. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of transformer, cable and electricals stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 22 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.
