Top Clean Energy Stocks Compared: NHPC vs SJVN vs NTPC Green vs Adani Green vs ACME Solar on Price, Valuation, Q2 FY27 Results and Risks
- November 10, 2026
- Posted by: Kunal Singla
- Category: Best Stocks
Previous close: NHPC Rs 81.04, SJVN Rs 57.51, NTPC Green Rs 84.00, Adani Green Rs 1,417.00, ACME Solar Rs 403.60.
Quick Answer
This clean energy stocks compared snapshot checks five names on price, valuation and Q2 FY27 results: NHPC, SJVN, NTPC Green, Adani Green and ACME Solar. Adani Green is the largest by market capitalisation at Rs 2,38,445 crore. NHPC reports the highest return on equity at 9.89%. Hydro companies and renewable developers are valued differently, so match the business to your own view.
Clean energy stocks compared here means NHPC, SJVN, NTPC Green, Adani Green and ACME Solar on one page, checked on previous close, market value, valuation and the latest quarterly numbers. The group mixes two state-run hydropower companies, a state-run renewable developer and two private developers, so a side-by-side look shows how differently each one earns.
All five clean energy companies have filed their September 2026 quarter, so every result below is Q2 FY27. Clean energy developers follow power demand and policy support, so a glance at the Nifty 500 page and the Sensex page before you read the tables gives useful backdrop.
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Clean Energy Stocks Compared: Hydro and Renewable Developers
The clean energy stocks compared here are NHPC, SJVN, NTPC Green, Adani Green and ACME Solar. Adani Green is the largest by market capitalisation at Rs 2,38,445 crore. Previous closes run from Rs 57.51 for SJVN to Rs 1,417.00 for Adani Green, which is why a side-by-side look at value rather than price is more useful. This clean energy stocks compared list is the base for every table that follows.
| Stock | Previous close (Rs) | Market cap (Rs crore) |
|---|---|---|
| NHPC | 81.04 | 80,762 |
| SJVN | 57.51 | 22,679 |
| NTPC Green | 84.00 | 69,517 |
| Adani Green | 1,417.00 | 2,38,445 |
| ACME Solar | 403.60 | 28,780 |
A quick look at the business behind each ticker puts the numbers in context. NHPC is the country’s largest hydropower producer, with growing solar and wind projects, while SJVN builds and runs hydro, solar and wind power projects. NTPC Green is the renewable energy arm of NTPC, building solar and wind capacity, and Adani Green is one of the largest renewable energy developers in the country, with solar, wind and hybrid parks. To compare clean energy stocks properly, line up return on equity, debt to equity and dividend yield before forming a view.
Rounding out the group, ACME Solar develops and runs solar and hybrid power projects that supply utilities and industrial clients. A fair clean energy stock comparison looks at what each company actually earns from, not only at the share price. Hydropower companies and renewable developers belong in separate mental boxes whenever you compare clean energy stocks fairly.
Clean Energy Stocks Valuation: Multiples, Returns and Payouts
NHPC trades at the lowest price to earnings ratio in this group at 17.18. It also reports the highest return on equity at 9.89%. SJVN has the lowest price to book value at 1.51. These clean energy stocks valuation readings come from the previous close and the latest reported financials. That is the idea behind this clean energy stocks compared table: return on equity and debt to equity sit side by side so a high or low reading stands out at once.
| Stock | Price to earnings | Price to book | ROE (%) | Dividend yield (%) | Debt to equity |
|---|---|---|---|---|---|
| NHPC | 17.18 | 1.85 | 9.89 | 2.00 | 1.31 |
| SJVN | 22.90 | 1.51 | 6.60 | 2.60 | 2.25 |
| NTPC Green | 105.77 | 3.58 | 3.38 | 1.94 | |
| Adani Green | 106.05 | 11.04 | 8.68 | 5.48 | |
| ACME Solar | 38.05 | 3.44 | 9.05 | 3.30 |
Clean energy stocks range from modest price to earnings multiples for established hydropower companies to premium multiples for fast-growing renewable developers. Return on equity, dividend yield and debt to equity help you judge how each business is funded and rewarded. Earnings per share and book value per share are the building blocks behind price to earnings and price to book, so a glance at both in each filing is time well spent. A simple clean energy stock comparison like this one is only as useful as the context behind it, which is why dividend yield is worth checking as well.
In this group, price to earnings runs from 17.18 for NHPC to 106.05 for Adani Green. SJVN offers the highest dividend yield at 2.60%. Industry price to earnings readings differ by sub-sector: NHPC, SJVN, NTPC Green and Adani Green at 20.67; ACME Solar at 23.19. The industry price to earnings is a handy anchor: a clean energy stock above it is priced for faster growth, and one below it is priced for steadier earnings. A well-built clean energy stock comparison also notes that commissioning dates can move revenue between quarters. Run the same clean energy stock comparison on your own watchlist and the pattern in these numbers will be easier to spot. Whenever you compare clean energy stocks, note whether a premium is backed by returns or only by size.
Clean Energy Stocks Q2 FY27 Results: Revenue and Profit Check
All of the five clean energy stocks compared have filed Q2 FY27 numbers. SJVN posted the fastest revenue growth at 112.4% year on year. ACME Solar showed the sharpest rise in net profit at 133.5%. Read revenue first and quarterly profit second, since the two together show how much of the growth reaches shareholders. Treat the Q2 FY27 numbers in this clean energy stocks compared review as a snapshot of one quarter, not a verdict on any power company.
| Stock | Q2 FY27 revenue (Rs crore) | Q2 FY26 revenue (Rs crore) | Q2 FY27 net profit (Rs crore) | Q2 FY26 net profit (Rs crore) |
|---|---|---|---|---|
| NHPC | 4,670 | 3,630 | 1,658 | 1,219 |
| SJVN | 2,290 | 1,078 | 657.7 | 307.8 |
| NTPC Green | 1,001 | 656.7 | 137.5 | 86.4 |
| Adani Green | 4,520 | 3,249 | 665.0 | 529.0 |
| ACME Solar | 1,007 | 601.4 | 268.7 | 115.1 |
NHPC Results Snapshot
In the September 2026 quarter, NHPC booked revenue of Rs 4,670 crore against Rs 3,630 crore in the same quarter last year, a rise of 28.6%. Net profit rose 35.9% to Rs 1,658 crore from Rs 1,219 crore. Operating margin expanded to 75.0% from 73.5% a year ago. Earnings per share for the quarter rose to Rs 1.25 from Rs 1.02.
SJVN Results Snapshot
SJVN’s Q2 FY27 top line stood at Rs 2,290 crore, versus Rs 1,078 crore in Q2 FY26, a rise of 112.4%. Net profit rose 113.7% to Rs 657.7 crore from Rs 307.8 crore. Earnings per share for the quarter rose to Rs 1.68 from Rs 0.78.
NTPC Green Results Snapshot
NTPC Green reported Q2 FY27 revenue of Rs 1,001 crore, compared with Rs 656.7 crore a year earlier, a rise of 52.4%. Net profit rose 59.2% to Rs 137.5 crore from Rs 86.4 crore. Operating margin expanded to 99.5% from 96.3% a year ago. Earnings per share for the quarter rose to Rs 0.16 from Rs 0.10.
Adani Green Results Snapshot
In the September 2026 quarter, Adani Green booked revenue of Rs 4,520 crore against Rs 3,249 crore in the same quarter last year, a rise of 39.1%. Net profit rose 25.7% to Rs 665.0 crore from Rs 529.0 crore. Operating margin expanded to 98.5% from 97.8% a year ago. Earnings per share for the quarter rose to Rs 4.00 from Rs 3.44.
ACME Solar Results Snapshot
ACME Solar’s Q2 FY27 top line stood at Rs 1,007 crore, versus Rs 601.4 crore in Q2 FY26, a rise of 67.5%. Net profit rose 133.5% to Rs 268.7 crore from Rs 115.1 crore. Net profit margin improved to 30.3% from 23.9%. Earnings per share for the quarter rose to Rs 3.75 from Rs 1.88.
Clean energy results depend on capacity commissioned, plant load factors and tariffs, so profit can look different from revenue in a single quarter. That is why a clean energy stock comparison works best when revenue and profit are read together across two or three quarters. Used this way, a clean energy stocks compared review becomes a map of the sector rather than a price list. When you compare clean energy stocks after each result season, track how dividend yield changes from one quarter to the next. A clean energy stock comparison built on one quarter of data is a starting point, and the next set of results will update it.
Clean Energy Stocks Compared Two at a Time: Three Pairings
Readers rarely want a five-way table and nothing else, so here are three head-to-head reads drawn from the same data. Use them as a quick way to compare clean energy stocks two at a time.
NHPC vs SJVN
NHPC and SJVN are both state-run hydropower companies that are also adding solar and wind projects. On price to earnings, NHPC carries the lower multiple at 17.18 against 22.90 for SJVN. NHPC reports the higher return on equity, at 9.89% against 6.60% for SJVN. For dividend income, SJVN offers 2.60% against 2.00% at NHPC. Two hydro-led state companies can still differ in payouts and debt, so read yield next to returns before you judge either.
NTPC Green vs Adani Green
NTPC Green and Adani Green are two of the largest listed renewable developers, one backed by a state-run utility and the other by a private group. Adani Green is about 3.4 times the size of NTPC Green by market capitalisation, at Rs 2,38,445 crore against Rs 69,517 crore. Adani Green reports the higher return on equity, at 8.68% against 3.38% for NTPC Green. In Q2 FY27, NTPC Green grew revenue faster, at 52.4% year on year against 39.1% for Adani Green. A public-sector developer and a private one are priced differently, so read growth next to valuation before you judge either multiple.
ACME Solar vs Adani Green
ACME Solar and Adani Green both build solar and hybrid parks that supply utilities and industrial clients. Adani Green is about 8.3 times the size of ACME Solar by market capitalisation, at Rs 2,38,445 crore against Rs 28,780 crore. On price to earnings, ACME Solar carries the lower multiple at 38.05 against 106.05 for Adani Green. ACME Solar reports the higher return on equity, at 9.05% against 8.68% for Adani Green. Both are adding capacity, so read debt and returns together.
Best Clean Energy Stocks for Each Type of Investor
If you are asking which of the best clean energy stocks here suits you, the answer depends on what you value. The table below shows who leads on each measure today, which is the fairest way to answer without naming a single winner. Any clean energy stocks compared table can mislead if you stop at one row, because each power company leads on a different measure.
| If you care most about | Start your research with | The number |
|---|---|---|
| Lowest price to earnings | NHPC | 17.18 |
| Highest return on equity | NHPC | 9.89% |
| Highest dividend yield | SJVN | 2.60% |
| Lowest price to book value | SJVN | 1.51 |
| Largest by market capitalisation | Adani Green | Rs 2,38,445 crore |
| Fastest Q2 FY27 revenue growth | SJVN | 112.4% |
| Sharpest Q2 FY27 net profit rise | ACME Solar | 133.5% |
No single name tops every row, which is exactly why a clean energy stock comparison helps. Scale, returns, payouts and valuation each point to a different developer, so decide what matters most to you before you rank the numbers.
What Is Driving Clean Energy Projects Right Now?
The country has set a target for large renewable capacity, and utilities need steady green power to meet it. Long-term power purchase agreements give developers clear income once a project starts running. Knowing what moves capacity additions and tariffs helps you compare clean energy stocks with the right questions in mind.
Capacity added, plant load factors and tariffs decide revenue, while the cost of funding decides how much is left as profit. Hydro and solar projects with long contracts give more visibility than short-term sales. A good clean energy stocks compared routine therefore tracks capacity additions, commissioning and funding costs.
Risks to Weigh When You Compare Clean Energy Stocks
Clean energy stocks depend on project commissioning dates, grid connectivity, tariffs and funding costs. Delays in land or transmission can push back revenue. Read each filing for capacity, commissioning and debt commentary before you compare them. Every clean energy stock comparison has blind spots, and for this group the biggest is capacity additions and tariffs. A thoughtful clean energy stocks compared review keeps these risks next to the numbers instead of in a footnote.
Because capacity additions, commissioning and funding costs drive these businesses, the most useful habit is to read the management commentary that comes with every result and note what is expected for the next quarter. Read together, the risk notes and the tables make this clean energy stocks compared guide a balanced starting point.
How to Compare Clean Energy Stocks and Build a Shortlist
Start by deciding whether you want established hydropower with steady payouts or fast-growing solar and wind developers, because each responds to different triggers. Hydro names reward readers who track dividends, while developers reward those who track capacity additions. Done step by step, this clean energy stocks compared routine becomes repeatable rather than a one-off exercise.
Then check valuation and debt, because growth multiples leave less room for slips and new projects are funded with capital. Spreading your attention across one hydro company and one renewable developer is a simple way to see both sides of the sector. Keep the shortlist of best clean energy stocks short enough that you can actually follow each company’s quarterly results. When you compare clean energy stocks again after new results, update only the rows that changed instead of starting over.
The Univest stock screener lets you filter clean energy stocks by market capitalisation, return on equity and price to earnings, and the app keeps live prices a tap away through the trading day. Come back to this clean energy stocks compared page after the next set of results to see which numbers have moved.
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Conclusion: Clean Energy Stocks Compared at a Glance
This clean energy stocks compared review on price, valuation and Q2 FY27 results shows that no single name wins every measure. Adani Green leads on size and NHPC leads on return on equity, while the others bring their own strengths. Treat the clean energy stocks Q2 FY27 results and clean energy stocks valuation tables as a research starting point, then check the filings and speak to a SEBI-registered advisor before you invest. If you plan to compare clean energy stocks again next quarter, the same checklist of return on equity, debt to equity and dividend yield will work.
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).
Frequently Asked Questions on Clean Energy Stocks Compared
Which are the top clean energy stocks compared in this article?
Ans. The clean energy stocks compared in this article are NHPC, SJVN, NTPC Green, Adani Green and ACME Solar. They are checked on previous close, market capitalisation, price to earnings, price to book, return on equity and the latest quarterly results, so you get a clear side-by-side starting point before you open any single company’s filings in more depth.
Which clean energy stock has the highest market capitalisation?
Ans. Among the five names, Adani Green has the highest market capitalisation at Rs 2,38,445 crore. NHPC follows at Rs 80,762 crore. Market capitalisation is the total value the market places on a company and moves with the share price every day, so check the live figure before you rely on it.
Which of these clean energy stocks has the lowest price to earnings ratio?
Ans. On clean energy stocks valuation, NHPC has the lowest price to earnings ratio among these clean energy stocks at 17.18, based on the latest reported earnings. Adani Green sits at the other end at 106.05. A lower multiple is not automatically better, since growth, margins and business quality all influence what investors are willing to pay.
Which clean energy stock has the highest return on equity?
Ans. NHPC reports the highest return on equity in this group at 9.89%. Return on equity shows how much profit a company earns on shareholder funds, so a higher figure usually points to efficient use of capital. Compare it over several years, and keep debt levels in mind, because heavy borrowing can lift the ratio.
How did clean energy stocks perform in Q2 FY27 results?
Ans. All of the five names have filed Q2 FY27 numbers in our data. SJVN recorded the fastest revenue growth at 112.4% year on year. ACME Solar showed the sharpest net profit rise at 133.5%. For clean energy stocks Q2 FY27 results, each filing on the exchange website carries the full detail behind these figures.
What are the main risks when you compare clean energy stocks?
Ans. Clean energy stocks depend on project commissioning dates, grid connectivity, tariffs and funding costs. Delays in land or transmission can push back revenue. Read each filing for capacity, commissioning and debt commentary before you compare them. Keep an eye on capacity additions, commissioning and funding costs.
Which metrics matter most when you compare clean energy stocks?
Ans. Capacity commissioned, plant load factor, tariffs and operating margin matter most for operating performance. Price to earnings, return on equity, dividend yield and debt to equity show how the market values each company and how projects are funded. Read each company’s filing for these along with the numbers in this article.
Which is the best clean energy stock to buy among these five?
Ans. The best clean energy stock depends on whether you value hydropower payouts, a state-backed developer or a private growth story, because the five names differ on all three. On the numbers in this article, Adani Green has the largest market capitalisation; NHPC has the lowest price to earnings as well as the highest return on equity; SJVN has the highest dividend yield. No single stock tops every measure, and none of this is a recommendation. Use the tables to build a shortlist, check the latest filings, and speak to a SEBI-registered advisor before you decide, since your goals, time horizon and risk appetite matter more than any ranking.
