3 Steam Turbines Maker, Power Conductors Maker and Engineering and Construction Conglomerate Stocks With a Strong Future Roadmap: Triveni Turbine, Dhoot Transmission and Larsen & Toubro
- November 2, 2026
- Posted by: Chaitanya Auti
- Category: Best Stocks
Triveni Turbine, Dhoot Transmission and Larsen & Toubro: ROE of 14.7% to 24.2% and FY22 to FY26 revenue CAGR of 16.4% to 31.0%. Prices as of 30 Oct 2026.
Quick Answer
The three steam turbine, conductor and EPC major stocks to watch are Triveni Turbine, Dhoot Transmission and Larsen & Toubro. Their return on equity ranges from 14.7% to 24.2%, and their revenue compound annual growth from FY22 to FY26 ranges from 16.4% to 31.0%. Triveni Turbine has the highest return on equity at 24.2%, while Dhoot Transmission has the fastest revenue growth at 31.0% a year. Prices are based on the 30 October 2026 close, and this article is educational, not investment advice.
Steam turbine, conductor and EPC major stocks let investors follow companies that serve a growing part of the Indian economy. Triveni Turbine, Dhoot Transmission and Larsen & Toubro cover a steam turbines maker, a power conductors maker and an engineering and construction conglomerate.
This list covers three steam turbine, conductor and EPC major stocks with complete current figures: Triveni Turbine, Dhoot Transmission and Larsen & Toubro. 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 Steam Turbine, Conductor and EPC Major Stocks?
Steam turbine, conductor and EPC major stocks are listed companies that design steam turbines for industrial power and biomass, produce conductors, cables and wiring harnesses for power networks, and build infrastructure, energy and defence projects. Their earnings depend on order books, grid spending and project execution.
Steam Turbine, Conductor and EPC Major Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Triveni Turbine | 470.05 | 15,418 | 45.9 | 43.9 | 24.2 | 0.02 |
| Dhoot Transmission | 1,545.4 | 30,067 | 75.8 | 40.7 | 16.3 | 0.38 |
| Larsen & Toubro | 3,871.7 | 501,514 | 25.6 | 21.9 | 14.7 | 1.15 |
On valuation, all three trade at a P/E above their industry P/E, which reflects the growth the market already expects from them. Readers comparing steam turbine, conductor and EPC major stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain. With the Q2 FY27 results season close, investors in steam turbine, conductor and EPC major stocks can use the coming numbers to test whether growth is holding.
Why Do Steam Turbine, Conductor and EPC Major Stocks Have a Strong Roadmap in India?
Steam turbine, conductor and EPC major stocks have a strong roadmap in India because growing captive power needs, grid upgrades and large infrastructure plans keep widening the market for these equipment and project companies.
- Captive power. Industry builds efficient power units.
- Grid upgrades. Transmission lines need conductors.
- Large orders. Infrastructure plans give long visibility.
Why Triveni Turbine Features Among These Steam Turbine, Conductor and EPC Major Stocks
Among the steam turbine, conductor and EPC major stocks on this list, Triveni Turbine designs and manufactures steam turbines up to 100 MW for industrial power, sugar, biomass and waste-to-energy plants, and has a large aftermarket business.
In the June 2026 quarter, revenue grew 19.7% year on year to Rs 471 crore. Revenue rose from Rs 882 crore in FY22 to Rs 2,258 crore in FY26, a compound annual growth rate of 26.5%.
Net profit grew from Rs 270 crore in FY22 to Rs 349 crore in FY26, which works out to a compound annual growth rate of 6.6%. The company has a return on equity of 24.2%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 15,418 crore. The stock trades at a P/E of 45.9, above the industry P/E of 43.9.
Roadmap: Its roadmap includes new product platforms, a rising share of exports and a growing aftermarket franchise that brings recurring revenue. A healthy order book gives visibility into the coming quarters, and a debt-free balance sheet supports expansion.
What to watch: Track order inflows, since turbine deliveries follow orders with a lag.
Why Dhoot Transmission Features Among These Steam Turbine, Conductor and EPC Major Stocks
Among the power equipment and project shares on this list, Dhoot Transmission makes power conductors, cables and wiring harnesses used in power transmission, distribution and vehicles.
The company has a return on equity of 16.3%, a debt to equity ratio of 0.38 and a market capitalisation of Rs 30,067 crore. The stock trades at a P/E of 75.8, above the industry P/E of 40.7.
Revenue rose from Rs 1,551 crore in FY22 to Rs 4,564 crore in FY26, a compound annual growth rate of 31.0%. Net profit grew from Rs 164 crore in FY23 to Rs 397 crore in FY26, which works out to a compound annual growth rate of 34.3%. In the June 2026 quarter, revenue grew 49.9% year on year to Rs 1,460 crore, while net profit rose 37.8% to Rs 133 crore.
Roadmap: The company is expanding capacity in power conductors and cables to serve utilities and grid projects, while its wiring harness business supplies vehicle makers. Rising spending on power transmission supports demand for its products.
What to watch: Follow capacity expansion, order inflows from utilities and metal price movements.
Why Larsen & Toubro Features Among These Steam Turbine, Conductor and EPC Major Stocks
Among the three companies on this list, Larsen and Toubro is a Mumbai-based engineering and construction conglomerate that builds infrastructure, energy and defence projects and also runs technology services, financial services and electronics businesses.
Revenue rose from Rs 158,788 crore in FY22 to Rs 291,635 crore in FY26, a compound annual growth rate of 16.4%. Net profit grew from Rs 10,291 crore in FY22 to Rs 19,159 crore in FY26, which works out to a compound annual growth rate of 16.8%.
In the June 2026 quarter, revenue grew 8.1% year on year to Rs 70,318 crore, while net profit rose 15.2% to Rs 4,983 crore. The company has a return on equity of 14.7%, a debt to equity ratio of 1.15 and a market capitalisation of Rs 501,514 crore. The stock trades at a P/E of 25.6, above the industry P/E of 21.9.
Roadmap: The company has a very large order book across infrastructure, energy and hydrocarbon projects, supported by government capital spending. Its growing technology and green energy businesses widen its sources of growth.
What to watch: Monitor order inflows, project execution and government infrastructure spending.
Triveni Turbine vs Dhoot Transmission vs Larsen & Toubro on Key Financials
The table below sets the three steam turbine, conductor and EPC major 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 |
|---|---|---|---|---|---|
| Triveni Turbine | 882 | 2,258 | 26.5% | 349 | 15.5% |
| Dhoot Transmission | 1,551 | 4,564 | 31.0% | 397 | 8.7% |
| Larsen & Toubro | 158,788 | 291,635 | 16.4% | 19,159 | 6.6% |
Triveni Turbine posts the highest return on equity in this group at 24.2%. Larsen & Toubro has the largest FY26 revenue at Rs 291,635 crore, and Dhoot Transmission shows the fastest revenue growth with a 31.0% compound annual rate. A useful habit with steam turbine, conductor and EPC major stocks is to check each new quarterly result against the capacity plans the company described earlier. Many investors spread money across several turbine and conductor project stocks instead of one name, which keeps a single result from deciding the outcome.
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 |
|---|---|---|---|
| Triveni Turbine | 394 | 471 | 19.7% |
| Dhoot Transmission | 974 | 1,460 | 49.9% |
| Larsen & Toubro | 65,036 | 70,318 | 8.1% |
Key Risks to Check Before Investing in Steam Turbine, Conductor and EPC Major Stocks
Every theme carries risks that deserve a check before any decision. For these steam turbine, conductor and EPC major stocks, the main points are: Long-term power equipment and project shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Order timing. Project awards can shift between periods.
- Capital spending cycles. Customer investment in plants and equipment can vary.
- 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 steam turbine, conductor and EPC major stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Steam Turbine, Conductor and EPC Major Stocks
Steam turbine, conductor and EPC major stocks reward investors who follow demand trends, order books and margins together. Triveni Turbine, Dhoot Transmission and Larsen & Toubro each have a clear plan to grow. Based on the 30 October 2026 close, Triveni Turbine trades at Rs 470.05, Dhoot Transmission at Rs 1,545.4 and Larsen & Toubro at Rs 3,871.7. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these steam turbine, conductor and EPC major 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 steam turbine, conductor and EPC major stocks?
Ans. Steam turbine, conductor and EPC major stocks are listed companies that design steam turbines for industrial power and biomass, produce conductors, cables and wiring harnesses for power networks, and build infrastructure, energy and defence projects. Their earnings depend on order books, grid spending and project execution. This list looks at three of them, Triveni Turbine, Dhoot Transmission and Larsen & Toubro, using reported FY22 to FY26 financials and the 30 October 2026 closing prices.
Which steam turbine, conductor and EPC major stocks are covered in this list?
Ans. This list covers Triveni Turbine, Dhoot Transmission and Larsen & Toubro. Based on the 30 October 2026 close, Triveni Turbine traded at Rs 470.05, Dhoot Transmission at Rs 1,545.4 and Larsen & Toubro at Rs 3,871.7. Their return on equity ranges from 14.7% to 24.2%, and their revenue compound annual growth from FY22 to FY26 ranges from 16.4% to 31.0%.
Why do steam turbine, conductor and EPC major stocks have a strong future roadmap in India?
Ans. Steam turbine, conductor and EPC major stocks have a strong roadmap in India because growing captive power needs, grid upgrades and large infrastructure plans keep widening the market for these equipment and project companies. The main drivers are as follows. Captive power. Industry builds efficient power units. Grid upgrades. Transmission lines need conductors. Large orders. Infrastructure plans give long visibility. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Triveni Turbine performed financially?
Ans. Revenue rose from Rs 882 crore in FY22 to Rs 2,258 crore in FY26, a compound annual growth rate of 26.5%. Net profit grew from Rs 270 crore in FY22 to Rs 349 crore in FY26, which works out to a compound annual growth rate of 6.6%. In the June 2026 quarter, revenue grew 19.7% year on year to Rs 471 crore. The company has a return on equity of 24.2%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 15,418 crore. The stock trades at a P/E of 45.9, above the industry P/E of 43.9. Looking ahead, its roadmap includes new product platforms, a rising share of exports and a growing aftermarket franchise that brings recurring revenue. A healthy order book gives visibility into the coming quarters, and a debt-free balance sheet supports expansion.
How has Dhoot Transmission performed financially?
Ans. Revenue rose from Rs 1,551 crore in FY22 to Rs 4,564 crore in FY26, a compound annual growth rate of 31.0%. Net profit grew from Rs 164 crore in FY23 to Rs 397 crore in FY26, which works out to a compound annual growth rate of 34.3%. In the June 2026 quarter, revenue grew 49.9% year on year to Rs 1,460 crore, while net profit rose 37.8% to Rs 133 crore. The company has a return on equity of 16.3%, a debt to equity ratio of 0.38 and a market capitalisation of Rs 30,067 crore. The stock trades at a P/E of 75.8, above the industry P/E of 40.7. Looking ahead, the company is expanding capacity in power conductors and cables to serve utilities and grid projects, while its wiring harness business supplies vehicle makers. Rising spending on power transmission supports demand for its products.
How has Larsen & Toubro performed financially?
Ans. Revenue rose from Rs 158,788 crore in FY22 to Rs 291,635 crore in FY26, a compound annual growth rate of 16.4%. Net profit grew from Rs 10,291 crore in FY22 to Rs 19,159 crore in FY26, which works out to a compound annual growth rate of 16.8%. In the June 2026 quarter, revenue grew 8.1% year on year to Rs 70,318 crore, while net profit rose 15.2% to Rs 4,983 crore. The company has a return on equity of 14.7%, a debt to equity ratio of 1.15 and a market capitalisation of Rs 501,514 crore. The stock trades at a P/E of 25.6, above the industry P/E of 21.9. Looking ahead, the company has a very large order book across infrastructure, energy and hydrocarbon projects, supported by government capital spending. Its growing technology and green energy businesses widen its sources of growth.
What risks should investors check before buying steam turbine, conductor and EPC major stocks?
Ans. Investors should check a few risks before buying steam turbine, conductor and EPC major stocks. Order timing. Project awards can shift between periods. Capital spending cycles. Customer investment in plants and equipment can vary. 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 steam turbine, conductor and EPC major 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.