3 Transmission and Rail EPC, Power Lines and Urban Infrastructure and Power Plant Erection and Maintenance Stocks With a Strong Future Roadmap: KEC International, Kalpataru Projects International and Power Mech Projects
- October 23, 2026
- Posted by: Kunal Singla
- Category: Best Stocks
KEC International, Kalpataru Projects International and Power Mech Projects: ROE of 9.8% to 14.4% and FY22 to FY26 revenue CAGR of 14.4% to 22.3%. Prices as of 22 Oct 2026.
Quick Answer
The three power transmission and EPC services stocks to watch are KEC International, Kalpataru Projects International and Power Mech Projects. Their return on equity ranges from 9.8% to 14.4%, and their revenue compound annual growth from FY22 to FY26 ranges from 14.4% to 22.3%. Power Mech Projects leads on both return on equity at 14.4% and revenue growth at 22.3% a year. Prices are based on the 22 October 2026 close, and this article is educational, not investment advice.
Power transmission and EPC services stocks let investors follow companies that build and maintain the power networks behind India’s growth. KEC International, Kalpataru Projects International and Power Mech Projects cover transmission and rail engineering, power lines and urban infrastructure and power plant erection and maintenance.
This list covers three power transmission and EPC services stocks with complete current figures: KEC International, Kalpataru Projects International and Power Mech Projects. 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 Power Transmission and EPC Services Stocks?
Power transmission and EPC services stocks are listed companies that design and build transmission networks and provide erection, operation and maintenance services. Their earnings depend on order inflows, execution speed and recurring service contracts.
Power Transmission and EPC Services Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| KEC International | 331.95 | 8,830 | 15.9 | 22.3 | 9.8 | 0.87 |
| Kalpataru Projects International | 1,302.8 | 22,241 | 19.7 | 22.3 | 13.4 | 0.46 |
| Power Mech Projects | 2,272.6 | 7,461 | 17.7 | 22.7 | 14.4 | 0.26 |
On valuation, all three trade at a P/E below their industry P/E, which means the market is pricing them at a lower multiple than their peer group. Readers comparing power transmission and EPC services stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Power Transmission and EPC Services Stocks Have a Strong Roadmap in India?
Power transmission and EPC services stocks have a strong roadmap in India because grid expansion, new plants and the upkeep of existing capacity keep creating large orders for experienced contractors.
- Grid expansion. New transmission lines carry renewable power.
- Maintenance contracts. Recurring service work adds stability.
- International work. Overseas contracts widen the base.
Why KEC International Features Among These Power Transmission and EPC Services Stocks
Among the power transmission and EPC services stocks on this list, KEC International is an engineering and construction company that builds power transmission and distribution lines, railways, civil infrastructure, cables and renewable projects in India and overseas.
Revenue rose from Rs 13,756 crore in FY22 to Rs 23,556 crore in FY26, a compound annual growth rate of 14.4%. Net profit grew from Rs 332 crore in FY22 to Rs 606 crore in FY26, which works out to a compound annual growth rate of 16.2%.
In the June 2026 quarter, revenue grew 0.2% year on year to Rs 5,037 crore. The company has a return on equity of 9.8%, a debt to equity ratio of 0.87 and a market capitalisation of Rs 8,830 crore. The stock trades at a P/E of 15.9, below the industry P/E of 22.3.
Roadmap: The company has a large order book across transmission, railways and civil work, and it is scaling its renewable and cables businesses. Execution across several segments widens its revenue base.
What to watch: Follow order inflows, execution pace and margin progress.
Why Kalpataru Projects International Features Among These Power Transmission and EPC Services Stocks
Among the transmission line builder shares on this list, Kalpataru Projects International is an engineering and construction company that builds power transmission lines, railways, buildings, water pipelines and oil and gas infrastructure in India and abroad.
In the June 2026 quarter, revenue grew 4.8% year on year to Rs 6,485 crore, while net profit rose 45.9% to Rs 312 crore. Revenue rose from Rs 14,866 crore in FY22 to Rs 27,248 crore in FY26, a compound annual growth rate of 16.4%.
Net profit grew from Rs 535 crore in FY22 to Rs 1,031 crore in FY26, which works out to a compound annual growth rate of 17.8%. The company has a return on equity of 13.4%, a debt to equity ratio of 0.46 and a market capitalisation of Rs 22,241 crore. The stock trades at a P/E of 19.7, below the industry P/E of 22.3.
Roadmap: The company is winning larger projects across transmission, railways and urban infrastructure, and it is growing overseas. A diverse order book supports steady execution.
What to watch: Track order book growth, international contracts and working capital discipline.
Why Power Mech Projects Features Among These Power Transmission and EPC Services Stocks
Among the three companies on this list, Power Mech Projects provides erection, operation and maintenance services to thermal power, renewable energy, infrastructure and industrial clients, working across India and in select overseas markets.
The company has a return on equity of 14.4%, a debt to equity ratio of 0.26 and a market capitalisation of Rs 7,461 crore. The stock trades at a P/E of 17.7, below the industry P/E of 22.7.
Revenue rose from Rs 2,728 crore in FY22 to Rs 6,107 crore in FY26, a compound annual growth rate of 22.3%. Net profit grew from Rs 138 crore in FY22 to Rs 412 crore in FY26, which works out to a compound annual growth rate of 31.3%. In the June 2026 quarter, revenue grew 25.1% year on year to Rs 1,632 crore, while net profit rose 10.9% to Rs 89.3 crore.
Roadmap: The company benefits from the build-out of new power capacity and from recurring operation and maintenance contracts, which add stability to earnings. It has also entered infrastructure, railways and metals, widening its order base beyond power.
What to watch: Check the order book composition between power and non-power work and the pace of order inflow.
KEC International vs Kalpataru Projects International vs Power Mech Projects on Key Financials
The table below sets the three power transmission and EPC services 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 |
|---|---|---|---|---|---|
| KEC International | 13,756 | 23,556 | 14.4% | 606 | 2.6% |
| Kalpataru Projects International | 14,866 | 27,248 | 16.4% | 1,031 | 3.8% |
| Power Mech Projects | 2,728 | 6,107 | 22.3% | 412 | 6.7% |
Power Mech Projects posts the highest return on equity in this group at 14.4%. Kalpataru Projects International has the largest FY26 revenue at Rs 27,248 crore, and Power Mech Projects shows the fastest revenue growth with a 22.3% compound annual rate. A useful habit with power transmission and EPC services 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 |
|---|---|---|---|
| KEC International | 5,028 | 5,037 | 0.2% |
| Kalpataru Projects International | 6,188 | 6,485 | 4.8% |
| Power Mech Projects | 1,305 | 1,632 | 25.1% |
Key Risks to Check Before Investing in Power Transmission and EPC Services Stocks
Every theme carries risks that deserve a check before any decision. For these power transmission and EPC services stocks, the main points are: Long-term transmission line builder shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Execution risk. Large projects need careful delivery.
- Working capital. Payments can take time.
- Input costs. Steel and copper prices influence margins.
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 power transmission and EPC services stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Power Transmission and EPC Services Stocks
Power transmission and EPC services stocks reward investors who follow order inflows, execution and service contracts together. KEC International, Kalpataru Projects International and Power Mech Projects each have a clear pipeline. Based on the 22 October 2026 close, KEC International trades at Rs 331.95, Kalpataru Projects International at Rs 1,302.8 and Power Mech Projects at Rs 2,272.6. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these power transmission and EPC services 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 power transmission and EPC services stocks?
Ans. Power transmission and EPC services stocks are listed companies that design and build transmission networks and provide erection, operation and maintenance services. Their earnings depend on order inflows, execution speed and recurring service contracts. This list looks at three of them, KEC International, Kalpataru Projects International and Power Mech Projects, using reported FY22 to FY26 financials and the 22 October 2026 closing prices.
Which power transmission and EPC services stocks are covered in this list?
Ans. This list covers KEC International, Kalpataru Projects International and Power Mech Projects. Based on the 22 October 2026 close, KEC International traded at Rs 331.95, Kalpataru Projects International at Rs 1,302.8 and Power Mech Projects at Rs 2,272.6. Their return on equity ranges from 9.8% to 14.4%, and their revenue compound annual growth from FY22 to FY26 ranges from 14.4% to 22.3%.
Why do power transmission and EPC services stocks have a strong future roadmap in India?
Ans. Power transmission and EPC services stocks have a strong roadmap in India because grid expansion, new plants and the upkeep of existing capacity keep creating large orders for experienced contractors. The main drivers are as follows. Grid expansion. New transmission lines carry renewable power. Maintenance contracts. Recurring service work adds stability. International work. Overseas contracts widen the base. Together these factors give the companies on this list a visible path for growth over the coming years.
How has KEC International performed financially?
Ans. Revenue rose from Rs 13,756 crore in FY22 to Rs 23,556 crore in FY26, a compound annual growth rate of 14.4%. Net profit grew from Rs 332 crore in FY22 to Rs 606 crore in FY26, which works out to a compound annual growth rate of 16.2%. In the June 2026 quarter, revenue grew 0.2% year on year to Rs 5,037 crore. The company has a return on equity of 9.8%, a debt to equity ratio of 0.87 and a market capitalisation of Rs 8,830 crore. The stock trades at a P/E of 15.9, below the industry P/E of 22.3. Looking ahead, the company has a large order book across transmission, railways and civil work, and it is scaling its renewable and cables businesses. Execution across several segments widens its revenue base.
How has Kalpataru Projects International performed financially?
Ans. Revenue rose from Rs 14,866 crore in FY22 to Rs 27,248 crore in FY26, a compound annual growth rate of 16.4%. Net profit grew from Rs 535 crore in FY22 to Rs 1,031 crore in FY26, which works out to a compound annual growth rate of 17.8%. In the June 2026 quarter, revenue grew 4.8% year on year to Rs 6,485 crore, while net profit rose 45.9% to Rs 312 crore. The company has a return on equity of 13.4%, a debt to equity ratio of 0.46 and a market capitalisation of Rs 22,241 crore. The stock trades at a P/E of 19.7, below the industry P/E of 22.3. Looking ahead, the company is winning larger projects across transmission, railways and urban infrastructure, and it is growing overseas. A diverse order book supports steady execution.
How has Power Mech Projects performed financially?
Ans. Revenue rose from Rs 2,728 crore in FY22 to Rs 6,107 crore in FY26, a compound annual growth rate of 22.3%. Net profit grew from Rs 138 crore in FY22 to Rs 412 crore in FY26, which works out to a compound annual growth rate of 31.3%. In the June 2026 quarter, revenue grew 25.1% year on year to Rs 1,632 crore, while net profit rose 10.9% to Rs 89.3 crore. The company has a return on equity of 14.4%, a debt to equity ratio of 0.26 and a market capitalisation of Rs 7,461 crore. The stock trades at a P/E of 17.7, below the industry P/E of 22.7. Looking ahead, the company benefits from the build-out of new power capacity and from recurring operation and maintenance contracts, which add stability to earnings. It has also entered infrastructure, railways and metals, widening its order base beyond power.
What risks should investors check before buying power transmission and EPC services stocks?
Ans. Investors should check a few risks before buying power transmission and EPC services stocks. Execution risk. Large projects need careful delivery. Working capital. Payments can take time. Input costs. Steel and copper prices influence margins. 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 power transmission and EPC services 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.
