3 Wind Turbine Maker, Largest Power Generator and Leading Wires and Cables Producer Stocks With a Strong Future Roadmap: Suzlon Energy, NTPC and Polycab India
- October 29, 2026
- Posted by: Lakshit Sharma
- Category: Best Stocks
Suzlon Energy, NTPC and Polycab India: ROE of 13.3% to 33.4% and FY22 to FY26 revenue CAGR of 8.9% to 26.4%. Prices as of 28 Oct 2026.
Quick Answer
The three wind turbine, power and cable stocks to watch are Suzlon Energy, NTPC and Polycab India. Their return on equity ranges from 13.3% to 33.4%, and their revenue compound annual growth from FY22 to FY26 ranges from 8.9% to 26.4%. Suzlon Energy leads on both return on equity at 33.4% and revenue growth at 26.4% a year. Prices are based on the 28 October 2026 close, and this article is educational, not investment advice.
Wind turbine, power and cable stocks offer a focused view of a sector where demand keeps widening. Suzlon Energy, NTPC and Polycab India cover a wind turbine maker, the largest power generator and a leading wires and cables producer.
This list covers three wind turbine, power and cable stocks with complete current figures: Suzlon Energy, NTPC and Polycab India. Every figure comes from the latest reported financials and the 28 October 2026 market close. Companies without complete current figures were left out.
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What Are Wind Turbine, Power and Cable Stocks?
Wind turbine, power and cable stocks are listed companies that make and service wind turbines, generate electricity from thermal, hydro and renewable plants and produce wires, cables and electrical goods for homes, industry and power projects. Their earnings depend on orders, power demand and copper costs.
Wind Turbine, Power and Cable Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Suzlon Energy | 37.3 | 55,008 | 17.5 | 43.9 | 33.4 | 0.06 |
| NTPC | 303.75 | 292,694 | 10.3 | 21.3 | 13.3 | 1.33 |
| Polycab India | 7,680 | 115,291 | 36.0 | 42.9 | 24.1 | 0.02 |
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 wind turbine, power and cable stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Wind Turbine, Power and Cable Stocks Have a Strong Roadmap in India?
Wind turbine, power and cable stocks have a strong roadmap in India because rising electricity demand, a growing green energy pipeline and new transmission and housing projects keep widening the market for these power and cable companies.
- Power demand. Electricity use grows with factories and cities.
- Wind and green plans. Renewable targets bring new orders.
- Cable demand. Grid and housing projects need wires and cables.
Why Suzlon Energy Features Among These Wind Turbine, Power and Cable Stocks
Among the wind turbine, power and cable stocks on this list, Suzlon Energy is a wind turbine maker with manufacturing and service operations across India, supplying turbines for utility, independent power producer and corporate customers and servicing a large installed base.
In the June 2026 quarter, revenue grew 22.0% year on year to Rs 3,863 crore. Revenue rose from Rs 6,604 crore in FY22 to Rs 16,842 crore in FY26, a compound annual growth rate of 26.4%.
Net profit grew from Rs 2,072 crore in FY25 to Rs 3,163 crore in FY26, a rise of 52.7%. The company has a return on equity of 33.4%, a debt to equity ratio of 0.06 and a market capitalisation of Rs 55,008 crore. The stock trades at a P/E of 17.5, below the industry P/E of 43.9.
Roadmap: The company has a large order book and a strong share of the domestic wind market as the country adds renewable capacity. Its operations and maintenance business generates recurring income from the installed fleet.
What to watch: Check order book conversion to revenue and the pace of turbine deliveries each quarter.
Why NTPC Features Among These Wind Turbine, Power and Cable Stocks
Among the power build out shares on this list, NTPC is India’s largest power generation company, with thermal, hydro and renewable plants and a growing pipeline of green energy projects.
The company has a return on equity of 13.3%, a debt to equity ratio of 1.33 and a market capitalisation of Rs 292,694 crore. The stock trades at a P/E of 10.3, below the industry P/E of 21.3.
Revenue rose from Rs 134,994 crore in FY22 to Rs 189,799 crore in FY26, a compound annual growth rate of 8.9%. Net profit grew from Rs 15,474 crore in FY22 to Rs 30,010 crore in FY26, which works out to a compound annual growth rate of 18.0%. In the June 2026 quarter, revenue grew 6.9% year on year to Rs 51,142 crore, while net profit rose 12.9% to Rs 6,896 crore.
Roadmap: The company is adding thermal capacity to meet rising electricity demand while building a large renewable portfolio. Long-term power purchase agreements give it steady visibility.
What to watch: Follow capacity additions, renewable progress and plant availability.
Why Polycab India Features Among These Wind Turbine, Power and Cable Stocks
Among the three companies on this list, Polycab India is a leading maker of wires and cables, with a growing range of fast moving electrical goods that includes fans, lighting, switches and switchgear, and a project business in engineering and procurement.
Revenue rose from Rs 12,294 crore in FY22 to Rs 29,120 crore in FY26, a compound annual growth rate of 24.1%. Net profit grew from Rs 845 crore in FY22 to Rs 2,708 crore in FY26, which works out to a compound annual growth rate of 33.8%.
The company has a return on equity of 24.1%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 115,291 crore. The stock trades at a P/E of 36.0, below the industry P/E of 42.9.
Roadmap: Spending on housing, power networks and industry is lifting demand for cables, while the company is deepening its presence in consumer electricals through its dealer network. Capacity additions help it serve both retail and project customers.
What to watch: Monitor cable volumes and the growth of its consumer electricals range.
Suzlon Energy vs NTPC vs Polycab India on Key Financials
The table below sets the three wind turbine, power and cable 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 |
|---|---|---|---|---|---|
| Suzlon Energy | 6,604 | 16,842 | 26.4% | 3,163 | 18.8% |
| NTPC | 134,994 | 189,799 | 8.9% | 30,010 | 15.8% |
| Polycab India | 12,294 | 29,120 | 24.1% | 2,708 | 9.3% |
Suzlon Energy posts the highest return on equity in this group at 33.4%. NTPC has the largest FY26 revenue at Rs 189,799 crore, and Suzlon Energy shows the fastest revenue growth with a 26.4% compound annual rate. A useful habit with wind turbine, power and cable stocks is to check each new quarterly result against the capacity plans the company described earlier.
Key Risks to Check Before Investing in Wind Turbine, Power and Cable Stocks
Every theme carries risks that deserve a check before any decision. For these wind turbine, power and cable stocks, the main points are: Long-term power build out 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.
- Input costs. Metal and material prices can move margins.
- 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 wind turbine, power and cable stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Wind Turbine, Power and Cable Stocks
Wind turbine, power and cable stocks reward patient research into demand, execution and financial strength. Suzlon Energy, NTPC and Polycab India each have a clear plan to grow. Based on the 28 October 2026 close, Suzlon Energy trades at Rs 37.3, NTPC at Rs 303.75 and Polycab India at Rs 7,680.
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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 wind turbine, power and cable stocks?
Ans. Wind turbine, power and cable stocks are listed companies that make and service wind turbines, generate electricity from thermal, hydro and renewable plants and produce wires, cables and electrical goods for homes, industry and power projects. Their earnings depend on orders, power demand and copper costs. This list looks at three of them, Suzlon Energy, NTPC and Polycab India, using reported FY22 to FY26 financials and the 28 October 2026 closing prices.
Which wind turbine, power and cable stocks are covered in this list?
Ans. This list covers Suzlon Energy, NTPC and Polycab India. Based on the 28 October 2026 close, Suzlon Energy traded at Rs 37.3, NTPC at Rs 303.75 and Polycab India at Rs 7,680. Their return on equity ranges from 13.3% to 33.4%, and their revenue compound annual growth from FY22 to FY26 ranges from 8.9% to 26.4%.
Why do wind turbine, power and cable stocks have a strong future roadmap in India?
Ans. Wind turbine, power and cable stocks have a strong roadmap in India because rising electricity demand, a growing green energy pipeline and new transmission and housing projects keep widening the market for these power and cable companies. The main drivers are as follows. Power demand. Electricity use grows with factories and cities. Wind and green plans. Renewable targets bring new orders. Cable demand. Grid and housing projects need wires and cables. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Suzlon Energy performed financially?
Ans. Revenue rose from Rs 6,604 crore in FY22 to Rs 16,842 crore in FY26, a compound annual growth rate of 26.4%. Net profit grew from Rs 2,072 crore in FY25 to Rs 3,163 crore in FY26, a rise of 52.7%. In the June 2026 quarter, revenue grew 22.0% year on year to Rs 3,863 crore. The company has a return on equity of 33.4%, a debt to equity ratio of 0.06 and a market capitalisation of Rs 55,008 crore. The stock trades at a P/E of 17.5, below the industry P/E of 43.9. Looking ahead, the company has a large order book and a strong share of the domestic wind market as the country adds renewable capacity. Its operations and maintenance business generates recurring income from the installed fleet.
How has NTPC performed financially?
Ans. Revenue rose from Rs 134,994 crore in FY22 to Rs 189,799 crore in FY26, a compound annual growth rate of 8.9%. Net profit grew from Rs 15,474 crore in FY22 to Rs 30,010 crore in FY26, which works out to a compound annual growth rate of 18.0%. In the June 2026 quarter, revenue grew 6.9% year on year to Rs 51,142 crore, while net profit rose 12.9% to Rs 6,896 crore. The company has a return on equity of 13.3%, a debt to equity ratio of 1.33 and a market capitalisation of Rs 292,694 crore. The stock trades at a P/E of 10.3, below the industry P/E of 21.3. Looking ahead, the company is adding thermal capacity to meet rising electricity demand while building a large renewable portfolio. Long-term power purchase agreements give it steady visibility.
How has Polycab India performed financially?
Ans. Revenue rose from Rs 12,294 crore in FY22 to Rs 29,120 crore in FY26, a compound annual growth rate of 24.1%. Net profit grew from Rs 845 crore in FY22 to Rs 2,708 crore in FY26, which works out to a compound annual growth rate of 33.8%. The company has a return on equity of 24.1%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 115,291 crore. The stock trades at a P/E of 36.0, below the industry P/E of 42.9. Looking ahead, spending on housing, power networks and industry is lifting demand for cables, while the company is deepening its presence in consumer electricals through its dealer network. Capacity additions help it serve both retail and project customers.
What risks should investors check before buying wind turbine, power and cable stocks?
Ans. Investors should check a few risks before buying wind turbine, power and cable stocks. Fuel and power prices. Tariffs and fuel costs can influence earnings. Input costs. Metal and material prices can move margins. 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 wind turbine, power and cable stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 28 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.