{"id":300429,"date":"2026-10-12T09:36:08","date_gmt":"2026-10-12T04:06:08","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=300429"},"modified":"2026-10-12T09:36:08","modified_gmt":"2026-10-12T04:06:08","slug":"power-delivery-and-clean-energy-stocks-with-strong-future-roadmap","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/power-delivery-and-clean-energy-stocks-with-strong-future-roadmap\/","title":{"rendered":"3 Power Delivery and Clean Energy Stocks With a Strong Future Roadmap: CESC, Adani Energy Solutions and Acme Solar Holdings"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>CESC Rs 133.23, P\/E 10.48. Adani Energy Solutions Rs 1,262.00, P\/E 49.58. Acme Solar Rs 418.10, P\/E 49.30. Closing prices of 9 Oct 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Power delivery and clean energy stocks with the clearest long-term roadmaps today include CESC in Kolkata power distribution, Adani Energy Solutions in transmission lines and smart meters and Acme Solar in solar and hybrid power portfolio. FY26 revenue growth was 8.9% at CESC, 15.9% at Adani Energy Solutions and 59.2% at Acme Solar. P\/E stands at 10.48 for CESC (industry 22.17), 49.58 for Adani Energy Solutions (industry 22.17) and 49.30 for Acme Solar (industry 23.12). Demand cycles, input costs and valuation decide how much of that growth the market keeps paying for, so each company&#8217;s risks need equal attention.<\/p>\n<\/p><\/div>\n<p>Power delivery and clean energy stocks give investors exposure to electricity distribution, transmission and renewable generation. Regulated returns, project commissioning and power demand decide how much of that build-out turns into profit.<\/p>\n<p>This list covers three power delivery and clean energy stocks: CESC for Kolkata power distribution, Adani Energy Solutions for transmission lines and smart meters and Acme Solar Holdings for solar and hybrid power portfolio. Every figure comes from the latest reported financials and the 9 October 2026 market close. Companies without complete current figures were left out.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=power-delivery-and-clean-energy-stocks-with-strong-future-roadmap\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/power-delivery-and-clean-energy-stocks-with-strong-future-roadmap\/#What_Are_Power_Delivery_and_Clean_Energy_Stocks\" title=\"What Are Power Delivery and Clean Energy Stocks?\">What Are Power Delivery and Clean Energy Stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/power-delivery-and-clean-energy-stocks-with-strong-future-roadmap\/#Power_Delivery_and_Clean_Energy_Stocks_at_a_Glance\" title=\"Power Delivery and Clean Energy Stocks at a Glance\">Power Delivery and Clean Energy Stocks at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/power-delivery-and-clean-energy-stocks-with-strong-future-roadmap\/#Why_Do_Power_Delivery_and_Clean_Energy_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Power Delivery and Clean Energy Stocks Have a Strong Roadmap in India?\">Why Do Power Delivery and Clean Energy Stocks Have a Strong Roadmap in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/power-delivery-and-clean-energy-stocks-with-strong-future-roadmap\/#CESC_Kolkata_Power_Distribution_Drives_the_Pipeline\" title=\"CESC: Kolkata Power Distribution Drives the Pipeline\">CESC: Kolkata Power Distribution Drives the Pipeline<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/power-delivery-and-clean-energy-stocks-with-strong-future-roadmap\/#Adani_Energy_Solutions_Transmission_Lines_and_Smart_Meters_Anchor_the_Roadmap\" title=\"Adani Energy Solutions: Transmission Lines and Smart Meters Anchor the Roadmap\">Adani Energy Solutions: Transmission Lines and Smart Meters Anchor the Roadmap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/power-delivery-and-clean-energy-stocks-with-strong-future-roadmap\/#Acme_Solar_Holdings_A_Renewable_Power_Portfolio_Builds_the_Next_Leg\" title=\"Acme Solar Holdings: A Renewable Power Portfolio Builds the Next Leg\">Acme Solar Holdings: A Renewable Power Portfolio Builds the Next Leg<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/power-delivery-and-clean-energy-stocks-with-strong-future-roadmap\/#Best_Power_Delivery_and_Clean_Energy_Stocks_in_India_CESC_vs_Adani_Energy_Solutions_vs_Acme_Solar_on_Key_Financials\" title=\"Best Power Delivery and Clean Energy Stocks in India: CESC vs Adani Energy Solutions vs Acme Solar on Key Financials\">Best Power Delivery and Clean Energy Stocks in India: CESC vs Adani Energy Solutions vs Acme Solar on Key Financials<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/power-delivery-and-clean-energy-stocks-with-strong-future-roadmap\/#How_to_Evaluate_Power_Delivery_and_Clean_Energy_Stocks_to_Buy_Before_You_Invest\" title=\"How to Evaluate Power Delivery and Clean Energy Stocks to Buy Before You Invest\">How to Evaluate Power Delivery and Clean Energy Stocks to Buy Before You Invest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/power-delivery-and-clean-energy-stocks-with-strong-future-roadmap\/#Risks_to_Consider_Before_Investing_in_Power_Delivery_and_Clean_Energy_Stocks\" title=\"Risks to Consider Before Investing in Power Delivery and Clean Energy Stocks\">Risks to Consider Before Investing in Power Delivery and Clean Energy Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/power-delivery-and-clean-energy-stocks-with-strong-future-roadmap\/#Final_Take_Which_Stock_Has_the_Strongest_Roadmap\" title=\"Final Take: Which Stock Has the Strongest Roadmap?\">Final Take: Which Stock Has the Strongest Roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/power-delivery-and-clean-energy-stocks-with-strong-future-roadmap\/#FAQs_on_Power_Delivery_and_Clean_Energy_Stocks\" title=\"FAQs on Power Delivery and Clean Energy Stocks\">FAQs on Power Delivery and Clean Energy Stocks<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/power-delivery-and-clean-energy-stocks-with-strong-future-roadmap\/#Which_are_the_best_power_delivery_and_clean_energy_stocks_in_India_with_a_strong_roadmap\" title=\"Which are the best power delivery and clean energy stocks in India with a strong roadmap?\">Which are the best power delivery and clean energy stocks in India with a strong roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/power-delivery-and-clean-energy-stocks-with-strong-future-roadmap\/#Is_CESC_a_good_stock_to_buy_now\" title=\"Is CESC a good stock to buy now?\">Is CESC a good stock to buy now?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/power-delivery-and-clean-energy-stocks-with-strong-future-roadmap\/#What_is_the_PE_ratio_of_CESC_Adani_Energy_Solutions_and_Acme_Solar\" title=\"What is the P\/E ratio of CESC, Adani Energy Solutions and Acme Solar?\">What is the P\/E ratio of CESC, Adani Energy Solutions and Acme Solar?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/power-delivery-and-clean-energy-stocks-with-strong-future-roadmap\/#Which_of_these_power_delivery_and_clean_energy_stocks_has_the_highest_return_on_equity\" title=\"Which of these power delivery and clean energy stocks has the highest return on equity?\">Which of these power delivery and clean energy stocks has the highest return on equity?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/power-delivery-and-clean-energy-stocks-with-strong-future-roadmap\/#What_are_the_risks_of_investing_in_power_delivery_and_clean_energy_stocks\" title=\"What are the risks of investing in power delivery and clean energy stocks?\">What are the risks of investing in power delivery and clean energy stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/power-delivery-and-clean-energy-stocks-with-strong-future-roadmap\/#How_did_CESC_Adani_Energy_Solutions_and_Acme_Solar_perform_in_Q1_FY27\" title=\"How did CESC, Adani Energy Solutions and Acme Solar perform in Q1 FY27?\">How did CESC, Adani Energy Solutions and Acme Solar perform in Q1 FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/power-delivery-and-clean-energy-stocks-with-strong-future-roadmap\/#Do_power_delivery_and_clean_energy_stocks_pay_dividends\" title=\"Do power delivery and clean energy stocks pay dividends?\">Do power delivery and clean energy stocks pay dividends?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/power-delivery-and-clean-energy-stocks-with-strong-future-roadmap\/#How_can_I_invest_in_power_delivery_and_clean_energy_stocks_in_India\" title=\"How can I invest in power delivery and clean energy stocks in India?\">How can I invest in power delivery and clean energy stocks in India?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Power_Delivery_and_Clean_Energy_Stocks\"><\/span><strong>What Are Power Delivery and Clean Energy Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Power delivery and clean energy stocks are shares of companies that distribute, transmit or generate electricity. Results depend on project commissioning, regulated returns and power demand, so debt levels and project execution separate the stronger names.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Power_Delivery_and_Clean_Energy_Stocks_at_a_Glance\"><\/span><strong>Power Delivery and Clean Energy Stocks at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table compares size, valuation, return on equity and debt for the three power delivery and clean energy stocks as of the 9 Oct 2026 close.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Industry P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">ROE<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Debt to Equity<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/cesc\/cesc-ltd-share-price-today\">CESC<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">133.23<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17,080<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10.48<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">22.17<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">12.31%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1.73<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/adaniensol\/adani-transmission-ltd-share-price-today\">Adani Energy Solutions<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,262.00<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">153,230<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">49.58<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">22.17<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">8.98%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1.93<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/acmesolar\/acme-solar-holdings-ltd-share-price-today\">Acme Solar Holdings<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">418.10<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">29,692<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">49.30<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">23.12<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9.86%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3.93<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Among power sector stocks, Adani Energy Solutions and Acme Solar trade at a premium to the industry P\/E, while CESC trades at a discount.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Do_Power_Delivery_and_Clean_Energy_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Power Delivery and Clean Energy Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Power delivery and clean energy stocks have a strong roadmap in India because power demand is rising every year, grids need new lines and meters and solar capacity is growing. Three drivers stand out.<\/p>\n<ul>\n<li><strong>Rising electricity demand:<\/strong> Cooling, industry and electric vehicles are lifting power consumption.<\/li>\n<li><strong>Grid and meter upgrades:<\/strong> Transmission lines and smart meters need long-term investment.<\/li>\n<li><strong>Renewable capacity growth:<\/strong> Solar and hybrid projects are being added under long-term power contracts.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"CESC_Kolkata_Power_Distribution_Drives_the_Pipeline\"><\/span><strong>CESC: Kolkata Power Distribution Drives the Pipeline<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>CESC&#8217;s roadmap rests on electricity distribution in Kolkata along with thermal and renewable generation, with a regulated distribution base supporting steady earnings.<\/p>\n<p>Revenue grew from Rs 12,826.70 crore in FY22 to Rs 18,927.29 crore in FY26, a 47.6% rise, and FY26 revenue was 8.9% higher than FY25. FY26 net profit rose 13.2% to Rs 1,617.57 crore. Over four years, net profit rose from Rs 1,404.08 crore in FY22 to Rs 1,617.57 crore. In Q1 FY27, revenue grew 5.2% to Rs 5,559.00 crore, and net profit rose 3.7% to Rs 419.00 crore. Operating margin was 26.27% in FY26 and 20.95% in Q1 FY27 against 22.59% a year earlier.<\/p>\n<p>Debt to equity is 1.73 and return on equity is 12.31%. FY26 operating cash flow was Rs 4,057.49 crore against capital expenditure of Rs 3,916.20 crore. CESC paid a dividend of Rs 6 per share for FY26, a yield of 4.68%. At a P\/E of 10.48 against an industry P\/E of 22.17, the stock trades below its industry multiple.<\/p>\n<p>What to watch: The Q1 FY27 operating margin of 20.95% was below the 22.59% of a year earlier, and debt to equity of 1.73 is on the higher side.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Adani_Energy_Solutions_Transmission_Lines_and_Smart_Meters_Anchor_the_Roadmap\"><\/span><strong>Adani Energy Solutions: Transmission Lines and Smart Meters Anchor the Roadmap<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Adani Energy Solutions&#8217; roadmap rests on power transmission, electricity distribution and smart metering, with grid expansion supporting revenue.<\/p>\n<p>Revenue grew from Rs 11,861.47 crore in FY22 to Rs 28,325.16 crore in FY26, a 138.8% rise, and FY26 revenue was 15.9% higher than FY25. FY26 net profit was Rs 2,392.75 crore. In Q1 FY27, revenue grew 40.2% to Rs 9,852.20 crore. Operating margin was 31.63% in FY26 and 32.73% in Q1 FY27 against 29.58% a year earlier.<\/p>\n<p>Debt to equity is 1.93 and return on equity is 8.98%. FY26 operating cash flow was Rs 10,996.68 crore against capital expenditure of Rs 14,431.80 crore. At a P\/E of 49.58 against an industry P\/E of 22.17, the stock trades above its industry multiple.<\/p>\n<p>What to watch: Debt to equity of 1.93 is on the higher side. The P\/E of 49.58 sits above the industry P\/E of 22.17, so earnings delivery matters for the valuation.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Acme_Solar_Holdings_A_Renewable_Power_Portfolio_Builds_the_Next_Leg\"><\/span><strong>Acme Solar Holdings: A Renewable Power Portfolio Builds the Next Leg<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Acme Solar&#8217;s roadmap rests on developing, owning and operating solar and hybrid renewable power projects, with a growing portfolio of operating and under-construction capacity supporting revenue.<\/p>\n<p>Revenue grew from Rs 1,892.29 crore in FY22 to Rs 2,507.08 crore in FY26, a 32.5% rise, and FY26 revenue was 59.2% higher than FY25. FY26 net profit was Rs 497.88 crore. In Q1 FY27, revenue grew 63.3% to Rs 953.77 crore, and net profit rose 79.9% to Rs 235.33 crore.<\/p>\n<p>Debt to equity is 3.93 and return on equity is 9.86%. FY26 operating cash flow was Rs 1,248.59 crore against capital expenditure of Rs 5,321.20 crore. At a P\/E of 49.30 against an industry P\/E of 23.12, the stock trades above its industry multiple.<\/p>\n<p>What to watch: Debt to equity of 3.93 is on the higher side. The P\/E of 49.30 sits above the industry P\/E of 23.12, so earnings delivery matters for the valuation.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Best_Power_Delivery_and_Clean_Energy_Stocks_in_India_CESC_vs_Adani_Energy_Solutions_vs_Acme_Solar_on_Key_Financials\"><\/span><strong>Best Power Delivery and Clean Energy Stocks in India: CESC vs Adani Energy Solutions vs Acme Solar on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the best power delivery and clean energy stocks in India, CESC leads on return on equity and the lowest P\/E; Adani Energy Solutions ranks second on FY26 revenue growth and Q1 FY27 revenue growth; Acme Solar leads on FY26 revenue growth and Q1 FY27 revenue growth. The table puts the numbers side by side.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Metric<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">CESC<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Adani Energy Solutions<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Acme Solar<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 revenue (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">18,927.29<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">28,325.16<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,507.08<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 revenue growth<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">8.9%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15.9%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">59.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 net profit (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,617.57<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,392.75<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">497.88<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Q1 FY27 revenue growth (YoY)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5.2%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">40.2%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">63.3%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Return on equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">12.31%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">8.98%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9.86%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">P\/E ratio<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10.48<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">49.58<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">49.30<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Debt to equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1.73<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1.93<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3.93<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Dividend yield<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4.68%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.00%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.00%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 operating cash flow (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,057.49<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10,996.68<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,248.59<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Power earnings follow project commissioning, regulated returns and power demand, so full-year numbers and quarterly trends together give a better view.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Evaluate_Power_Delivery_and_Clean_Energy_Stocks_to_Buy_Before_You_Invest\"><\/span><strong>How to Evaluate Power Delivery and Clean Energy Stocks to Buy Before You Invest<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A short checklist keeps the research consistent when you screen power delivery and clean energy stocks and shortlist power delivery and clean energy stocks to buy.<\/p>\n<ol>\n<li>Compare each stock&#8217;s P\/E with its industry P\/E, which differs by company here.<\/li>\n<li>Check debt levels and how many projects are already commissioned, because power projects need heavy upfront capital.<\/li>\n<li>Check whether revenue growth is turning into profit growth, not only sales.<\/li>\n<li>Read operating cash flow against capital expenditure to see how growth is funded.<\/li>\n<li>Watch debt to equity and interest cover before sizing a position.<\/li>\n<li>Spread exposure across companies and business lines instead of one demand cycle.<\/li>\n<\/ol>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check the Univest Screener for live data on these power delivery and clean energy stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_to_Consider_Before_Investing_in_Power_Delivery_and_Clean_Energy_Stocks\"><\/span><strong>Risks to Consider Before Investing in Power Delivery and Clean Energy Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Valuation:<\/strong> Adani Energy Solutions and Acme Solar trade at 49.58 and 49.30 times earnings against industry multiples of 22.17 and 23.12.<\/li>\n<li><strong>Debt and cash flow:<\/strong> CESC has debt to equity of 1.73.<\/li>\n<li><strong>Margins:<\/strong> CESC&#8217;s Q1 FY27 operating margin of 20.95% was below the 22.59% of a year earlier.<\/li>\n<li><strong>Regulatory decisions:<\/strong> Tariff orders and regulatory changes affect returns.<\/li>\n<\/ul>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track CESC, Adani Energy Solutions and Acme Solar live.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Final_Take_Which_Stock_Has_the_Strongest_Roadmap\"><\/span><strong>Final Take: Which Stock Has the Strongest Roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>These three power sector stocks cover a Kolkata power utility, a transmission and distribution company and a solar power developer. CESC leads on return on equity and the lowest P\/E; Adani Energy Solutions ranks second on FY26 revenue growth and Q1 FY27 revenue growth; Acme Solar leads on FY26 revenue growth and Q1 FY27 revenue growth.<\/p>\n<p>Across power delivery and clean energy stocks, each roadmap still has to turn growth into steady profit, so independent research and position sizing matter. Investors should consult a SEBI-registered advisor before acting on any of the power delivery and clean energy stocks to buy discussed here.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> 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).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs_on_Power_Delivery_and_Clean_Energy_Stocks\"><\/span><strong>FAQs on Power Delivery and Clean Energy Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_are_the_best_power_delivery_and_clean_energy_stocks_in_India_with_a_strong_roadmap\"><\/span><strong>Which are the best power delivery and clean energy stocks in India with a strong roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> CESC, Adani Energy Solutions and Acme Solar Holdings stand out for their roadmaps in a Kolkata power utility, a transmission and distribution company and a solar power developer. FY26 revenue growth was 8.9% at CESC, 15.9% at Adani Energy Solutions and 59.2% at Acme Solar, and return on equity ranges from 8.98% to 12.31%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_CESC_a_good_stock_to_buy_now\"><\/span><strong>Is CESC a good stock to buy now?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> CESC has a debt to equity ratio of 1.73, a return on equity of 12.31% and a P\/E of 10.48 against an industry P\/E of 22.17. Valuation, debt and project timelines move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_PE_ratio_of_CESC_Adani_Energy_Solutions_and_Acme_Solar\"><\/span><strong>What is the P\/E ratio of CESC, Adani Energy Solutions and Acme Solar?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The P\/E ratio is 10.48 for CESC (industry 22.17), 49.58 for Adani Energy Solutions (industry 22.17) and 49.30 for Acme Solar (industry 23.12). Only Adani Energy Solutions and Acme Solar trade at or above the industry multiple.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_of_these_power_delivery_and_clean_energy_stocks_has_the_highest_return_on_equity\"><\/span><strong>Which of these power delivery and clean energy stocks has the highest return on equity?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> CESC has the highest return on equity at 12.31%, followed by Acme Solar Holdings at 9.86% and Adani Energy Solutions at 8.98%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_investing_in_power_delivery_and_clean_energy_stocks\"><\/span><strong>What are the risks of investing in power delivery and clean energy stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are valuation, debt and cash flow, margins and regulatory decisions. Adani Energy Solutions and Acme Solar trade at 49.58 and 49.30 times earnings against industry multiples of 22.17 and 23.12.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_did_CESC_Adani_Energy_Solutions_and_Acme_Solar_perform_in_Q1_FY27\"><\/span><strong>How did CESC, Adani Energy Solutions and Acme Solar perform in Q1 FY27?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> CESC reported revenue of Rs 5,559.00 crore, up 5.2% year on year, and net profit rose 3.7% to Rs 419.00 crore. Adani Energy Solutions reported revenue of Rs 9,852.20 crore, up 40.2% year on year. Acme Solar Holdings reported revenue of Rs 953.77 crore, up 63.3% year on year, and net profit rose 79.9% to Rs 235.33 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Do_power_delivery_and_clean_energy_stocks_pay_dividends\"><\/span><strong>Do power delivery and clean energy stocks pay dividends?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> CESC pays dividends. The dividend yield is 4.68% for CESC, based on dividends declared for FY26.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_can_I_invest_in_power_delivery_and_clean_energy_stocks_in_India\"><\/span><strong>How can I invest in power delivery and clean energy stocks in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> You can buy power delivery and clean energy stocks through a demat and trading account on NSE or BSE after checking each company&#8217;s financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which are the best power delivery and clean energy stocks in India with a strong roadmap?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"CESC, Adani Energy Solutions and Acme Solar Holdings stand out for their roadmaps in a Kolkata power utility, a transmission and distribution company and a solar power developer. 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The dividend yield is 4.68% for CESC, based on dividends declared for FY26.\"}},{\"@type\":\"Question\",\"name\":\"How can I invest in power delivery and clean energy stocks in India?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"You can buy power delivery and clean energy stocks through a demat and trading account on NSE or BSE after checking each company's financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>CESC, Adani Energy Solutions and Acme Solar Holdings compared on growth, margins, debt and valuation, with the roadmap and risks investors should track.<\/p>\n","protected":false},"author":29,"featured_media":300426,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[7531,8054,8318,10985,10986],"class_list":["post-300429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-acme-solar-holdings","tag-adani-energy-solutions","tag-cesc","tag-power-delivery-and-clean-energy-stocks","tag-power-delivery-and-clean-energy-stocks-to-buy"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["300426"],"rank_math_title":["Power Delivery and Clean Energy Stocks: Top 3 Roadmap Picks"],"rank_math_description":["Power delivery and clean energy stocks with a strong roadmap: CESC, Adani Energy Solutions and Acme Solar compared on growth, margins, valuation and risks."],"rank_math_focus_keyword":["power delivery and clean energy stocks"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/3-power-delivery-and-clean-energy-stocks-with-a-strong-future-roadmap-cesc-adani.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/300429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=300429"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/300429\/revisions"}],"predecessor-version":[{"id":300430,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/300429\/revisions\/300430"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/300426"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=300429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=300429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=300429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}