It manufactures solar modules, cells and provides EPC services for solar projects. The total installed capacity is 14 GW, while solar is 2.94 GW.
 
Tata Power has been able to grow its sales at 28.7% y/y in FY23. The Net profit grew at 45.2% y/y in FY23. The company is showing good traction in the market. 

Tata Power Ltd.

The company has grown its sales by 51.8% and 64.31% for FY23 and FY22 respectively. The net profit has also grown at an impressive 98.98% and 168.68% y/y in FY23 and 22 respectively. The future of Adani Green looks bright as it is expected to double its solar manufacturing capacity from 4 GW presently to 10 GW in the next 5-7 years.  

Adani Green Energy Ltd.

Suzlon was predominantly a wind energy player; however, in 2016, it forayed into the solar energy sector with a capacity of 340 MW. Although the company has shown lacklustre revenue growth, profit went up 2.5x in the December 2023 quarter due to lower depreciation and interest expenditure. 

Suzlon Energy 

Borosil is a Gujarat-based solar panel manufacturer – which is considered the most important component in the solar power plant ecosystem. It has been able to grow its sales at 17.37% y/y in FY23, and PAT growth was at 17.70% y/y. 

Borosil Renewable 

The company runs two types of businesses: independent power producers (15% of total revenue) and captive power producers (85% of total revenue). The company has been able to grow its sales by 179.98% y/y in FY23. The net profit has also grown by 153.5% y/y.  

KPI Green Energy Ltd. 

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