3 Integrated Power Utility, Ferro Alloys and Sponge Iron Producer and Solar Modules Maker Stocks With a Strong Future Roadmap: Torrent Power, Sarda Energy and Emmvee Photovoltaic Power
- November 2, 2026
- Posted by: Kunal Singla
- Category: Best Stocks
Torrent Power, Sarda Energy and Emmvee Photovoltaic Power: ROE of 12.7% to 32.3% and FY22 to FY26 revenue CAGR of 10.6% to 73.2%. Prices as of 30 Oct 2026.
Quick Answer
The three Gujarat power, ferro alloy and solar stocks to watch are Torrent Power, Sarda Energy and Emmvee Photovoltaic Power. Their return on equity ranges from 12.7% to 32.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 10.6% to 73.2%. Emmvee Photovoltaic Power leads on both return on equity at 32.3% and revenue growth at 73.2% a year. Prices are based on the 30 October 2026 close, and this article is educational, not investment advice.
Gujarat power, ferro alloy and solar stocks let investors follow companies that serve a growing part of the Indian economy. Torrent Power, Sarda Energy and Emmvee Photovoltaic Power cover an integrated power utility, a ferro alloys and sponge iron producer and a solar modules maker.
This list covers three Gujarat power, ferro alloy and solar stocks with complete current figures: Torrent Power, Sarda Energy and Emmvee Photovoltaic Power. Every figure comes from the latest reported financials and the 30 October 2026 market close. Companies without complete current figures were left out.
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What Are Gujarat Power, Ferro Alloy and Solar Stocks?
Gujarat power, ferro alloy and solar stocks are listed companies that generate, transmit and distribute electricity, produce ferro alloys, sponge iron and power, and make solar photovoltaic modules and cells. Their earnings depend on power demand, steel linked demand and solar orders.
Gujarat Power, Ferro Alloy and Solar Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Torrent Power | 1,172.9 | 60,947 | 25.5 | 21.8 | 12.7 | 0.73 |
| Sarda Energy | 440.85 | 16,079 | 14.0 | 22.4 | 15.0 | 0.36 |
| Emmvee Photovoltaic Power | 229 | 16,672 | 11.8 | 40.7 | 32.3 | 0.25 |
On valuation, Sarda Energy and Emmvee Photovoltaic Power trade at a P/E below the industry P/E, while Torrent Power trades above it, which reflects the growth the market already expects. Readers comparing Gujarat power, ferro alloy and solar stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Gujarat Power, Ferro Alloy and Solar Stocks Have a Strong Roadmap in India?
Gujarat power, ferro alloy and solar stocks have a strong roadmap in India because rising electricity use, steady steel demand and fast solar capacity additions keep widening the market for these energy and metal companies.
- Power demand. Homes and factories use more electricity.
- Steel inputs. Alloys and sponge iron serve steel makers.
- Solar additions. New capacity needs many modules.
Why Torrent Power Features Among These Gujarat Power, Ferro Alloy and Solar Stocks
Among the Gujarat power, ferro alloy and solar stocks on this list, Torrent Power is an integrated power company in Gujarat that generates, transmits and distributes electricity, with operations in Ahmedabad, Surat and Bhiwandi, and a growing renewable energy portfolio.
In the June 2026 quarter, revenue grew 2.4% year on year to Rs 8,205 crore. Revenue rose from Rs 14,493 crore in FY22 to Rs 29,289 crore in FY26, a compound annual growth rate of 19.2%.
Net profit grew from Rs 459 crore in FY22 to Rs 2,469 crore in FY26, which works out to a compound annual growth rate of 52.3%. The company has a return on equity of 12.7%, a debt to equity ratio of 0.73 and a market capitalisation of Rs 60,947 crore. The stock trades at a P/E of 25.5, above the industry P/E of 21.8.
Roadmap: The company operates a stable distribution franchise and is adding large renewable capacity alongside new thermal and pumped storage projects. Its distribution licences in major cities provide steady cash flows that support these investments.
What to watch: Monitor renewable capacity commissioning and the progress of new generation projects.
Why Sarda Energy Features Among These Gujarat Power, Ferro Alloy and Solar Stocks
Among the power and metal shares on this list, Sarda Energy and Minerals is a Raipur-based integrated company producing ferro alloys, sponge iron, steel billets and power, supported by its own mines.
The company has a return on equity of 15.0%, a debt to equity ratio of 0.36 and a market capitalisation of Rs 16,079 crore. The stock trades at a P/E of 14.0, below the industry P/E of 22.4.
Revenue rose from Rs 3,964 crore in FY22 to Rs 5,928 crore in FY26, a compound annual growth rate of 10.6%. Net profit grew from Rs 808 crore in FY22 to Rs 1,063 crore in FY26, which works out to a compound annual growth rate of 7.1%. In the June 2026 quarter, revenue grew 0.2% year on year to Rs 1,717 crore, while net profit rose 9.4% to Rs 463 crore.
Roadmap: The company is growing capacity in steel and power while using captive mines to support its cost base. An integrated model lets it capture margin at several steps of production.
What to watch: Track capacity additions, captive mine output and power plant performance.
Why Emmvee Photovoltaic Power Features Among These Gujarat Power, Ferro Alloy and Solar Stocks
Among the three companies on this list, Emmvee Photovoltaic Power is a Bengaluru-based manufacturer of solar photovoltaic modules and solar cells for utility-scale, commercial and rooftop customers.
Revenue rose from Rs 567 crore in FY22 to Rs 5,103 crore in FY26, a compound annual growth rate of 73.2%. Net profit for FY26 was Rs 1,082 crore, a net margin of 21.2%.
The company has a return on equity of 32.3%, a debt to equity ratio of 0.25 and a market capitalisation of Rs 16,672 crore. The stock trades at a P/E of 11.8, below the industry P/E of 40.7.
Roadmap: The company is expanding module and cell capacity to serve India’s rising solar installations and is moving toward a more integrated manufacturing chain. Policy support for locally made solar equipment helps its order flow.
What to watch: Follow capacity commissioning, order inflows and solar policy changes.
Torrent Power vs Sarda Energy vs Emmvee Photovoltaic Power on Key Financials
The table below sets the three Gujarat power, ferro alloy and solar 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 |
|---|---|---|---|---|---|
| Torrent Power | 14,493 | 29,289 | 19.2% | 2,469 | 8.4% |
| Sarda Energy | 3,964 | 5,928 | 10.6% | 1,063 | 17.9% |
| Emmvee Photovoltaic Power | 567 | 5,103 | 73.2% | 1,082 | 21.2% |
Emmvee Photovoltaic Power posts the highest return on equity in this group at 32.3%. Torrent Power has the largest FY26 revenue at Rs 29,289 crore, and Emmvee Photovoltaic Power shows the fastest revenue growth with a 73.2% compound annual rate. A useful habit with Gujarat power, ferro alloy and solar stocks is to check each new quarterly result against the capacity plans the company described earlier.
Key Risks to Check Before Investing in Gujarat Power, Ferro Alloy and Solar Stocks
Every theme carries risks that deserve a check before any decision. For these Gujarat power, ferro alloy and solar stocks, the main points are: Long-term power and metal shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Fuel and power prices. Tariffs and fuel costs can influence earnings.
- Commodity prices. Selling prices follow global and domestic markets.
- 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 Gujarat power, ferro alloy and solar stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Gujarat Power, Ferro Alloy and Solar Stocks
Gujarat power, ferro alloy and solar stocks reward investors who follow demand trends, order books and margins together. Torrent Power, Sarda Energy and Emmvee Photovoltaic Power each have a clear plan to grow. Based on the 30 October 2026 close, Torrent Power trades at Rs 1,172.9, Sarda Energy at Rs 440.85 and Emmvee Photovoltaic Power at Rs 229.
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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 Gujarat power, ferro alloy and solar stocks?
Ans. Gujarat power, ferro alloy and solar stocks are listed companies that generate, transmit and distribute electricity, produce ferro alloys, sponge iron and power, and make solar photovoltaic modules and cells. Their earnings depend on power demand, steel linked demand and solar orders. This list looks at three of them, Torrent Power, Sarda Energy and Emmvee Photovoltaic Power, using reported FY22 to FY26 financials and the 30 October 2026 closing prices.
Which Gujarat power, ferro alloy and solar stocks are covered in this list?
Ans. This list covers Torrent Power, Sarda Energy and Emmvee Photovoltaic Power. Based on the 30 October 2026 close, Torrent Power traded at Rs 1,172.9, Sarda Energy at Rs 440.85 and Emmvee Photovoltaic Power at Rs 229. Their return on equity ranges from 12.7% to 32.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 10.6% to 73.2%.
Why do Gujarat power, ferro alloy and solar stocks have a strong future roadmap in India?
Ans. Gujarat power, ferro alloy and solar stocks have a strong roadmap in India because rising electricity use, steady steel demand and fast solar capacity additions keep widening the market for these energy and metal companies. The main drivers are as follows. Power demand. Homes and factories use more electricity. Steel inputs. Alloys and sponge iron serve steel makers. Solar additions. New capacity needs many modules. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Torrent Power performed financially?
Ans. Revenue rose from Rs 14,493 crore in FY22 to Rs 29,289 crore in FY26, a compound annual growth rate of 19.2%. Net profit grew from Rs 459 crore in FY22 to Rs 2,469 crore in FY26, which works out to a compound annual growth rate of 52.3%. In the June 2026 quarter, revenue grew 2.4% year on year to Rs 8,205 crore. The company has a return on equity of 12.7%, a debt to equity ratio of 0.73 and a market capitalisation of Rs 60,947 crore. The stock trades at a P/E of 25.5, above the industry P/E of 21.8. Looking ahead, the company operates a stable distribution franchise and is adding large renewable capacity alongside new thermal and pumped storage projects. Its distribution licences in major cities provide steady cash flows that support these investments.
How has Sarda Energy performed financially?
Ans. Revenue rose from Rs 3,964 crore in FY22 to Rs 5,928 crore in FY26, a compound annual growth rate of 10.6%. Net profit grew from Rs 808 crore in FY22 to Rs 1,063 crore in FY26, which works out to a compound annual growth rate of 7.1%. In the June 2026 quarter, revenue grew 0.2% year on year to Rs 1,717 crore, while net profit rose 9.4% to Rs 463 crore. The company has a return on equity of 15.0%, a debt to equity ratio of 0.36 and a market capitalisation of Rs 16,079 crore. The stock trades at a P/E of 14.0, below the industry P/E of 22.4. Looking ahead, the company is growing capacity in steel and power while using captive mines to support its cost base. An integrated model lets it capture margin at several steps of production.
How has Emmvee Photovoltaic Power performed financially?
Ans. Revenue rose from Rs 567 crore in FY22 to Rs 5,103 crore in FY26, a compound annual growth rate of 73.2%. Net profit for FY26 was Rs 1,082 crore, a net margin of 21.2%. The company has a return on equity of 32.3%, a debt to equity ratio of 0.25 and a market capitalisation of Rs 16,672 crore. The stock trades at a P/E of 11.8, below the industry P/E of 40.7. Looking ahead, the company is expanding module and cell capacity to serve India’s rising solar installations and is moving toward a more integrated manufacturing chain. Policy support for locally made solar equipment helps its order flow.
What risks should investors check before buying Gujarat power, ferro alloy and solar stocks?
Ans. Investors should check a few risks before buying Gujarat power, ferro alloy and solar stocks. Fuel and power prices. Tariffs and fuel costs can influence earnings. Commodity prices. Selling prices follow global and domestic markets. 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 Gujarat power, ferro alloy and solar stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 30 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.
