{"id":321107,"date":"2026-10-21T16:02:45","date_gmt":"2026-10-21T10:32:45","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=321107"},"modified":"2026-10-21T16:02:45","modified_gmt":"2026-10-21T10:32:45","slug":"industrial-steam-turbines-power-transformers-and-solar-panels-stocks-roadmap-ascent-list","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/industrial-steam-turbines-power-transformers-and-solar-panels-stocks-roadmap-ascent-list\/","title":{"rendered":"3 Industrial Steam Turbines, Power Transformers and Solar Panels Stocks With a Strong Future Roadmap: Triveni Turbine, Atlanta Electricals and Waaree Energies"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Triveni Turbine, Atlanta Electricals and Waaree Energies: ROE of 21.7% to 25.7% and FY22 to FY26 revenue CAGR of 26.5% to 74.3%. Prices as of 20 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;\">The three power equipment manufacturer stocks to watch are Triveni Turbine, Atlanta Electricals and Waaree Energies. Their return on equity ranges from 21.7% to 25.7%, and their revenue compound annual growth from FY22 to FY26 ranges from 26.5% to 74.3%. Waaree Energies leads on both return on equity at 25.7% and revenue growth at 74.3% a year. Prices are based on the 20 October 2026 close, and this article is educational, not investment advice.<\/p>\n<\/div>\n<p>Power equipment manufacturer stocks follow the machines and panels that generate and carry electricity. Triveni Turbine, Atlanta Electricals and Waaree Energies cover industrial steam turbines, power and distribution transformers and solar modules.<\/p>\n<p>This list covers three power equipment manufacturer stocks with complete current figures: Triveni Turbine, Atlanta Electricals and Waaree Energies. Every figure comes from the latest reported financials and the 20 October 2026 market close. Companies without complete current figures were left out.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=industrial-steam-turbines-power-transformers-and-solar-panels-stocks-roadmap-ascent-list\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/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\/industrial-steam-turbines-power-transformers-and-solar-panels-stocks-roadmap-ascent-list\/#What_Are_Power_Equipment_Manufacturer_Stocks\" title=\"What Are Power Equipment Manufacturer Stocks?\">What Are Power Equipment Manufacturer 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\/industrial-steam-turbines-power-transformers-and-solar-panels-stocks-roadmap-ascent-list\/#Power_Equipment_Manufacturer_Stocks_at_a_Glance\" title=\"Power Equipment Manufacturer Stocks at a Glance\">Power Equipment Manufacturer 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\/industrial-steam-turbines-power-transformers-and-solar-panels-stocks-roadmap-ascent-list\/#Why_Do_Power_Equipment_Manufacturer_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Power Equipment Manufacturer Stocks Have a Strong Roadmap in India?\">Why Do Power Equipment Manufacturer 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\/industrial-steam-turbines-power-transformers-and-solar-panels-stocks-roadmap-ascent-list\/#Why_Triveni_Turbine_Features_Among_These_Power_Equipment_Manufacturer_Stocks\" title=\"Why Triveni Turbine Features Among These Power Equipment Manufacturer Stocks\">Why Triveni Turbine Features Among These Power Equipment Manufacturer Stocks<\/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\/industrial-steam-turbines-power-transformers-and-solar-panels-stocks-roadmap-ascent-list\/#Why_Atlanta_Electricals_Features_Among_These_Power_Equipment_Manufacturer_Stocks\" title=\"Why Atlanta Electricals Features Among These Power Equipment Manufacturer Stocks\">Why Atlanta Electricals Features Among These Power Equipment Manufacturer Stocks<\/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\/industrial-steam-turbines-power-transformers-and-solar-panels-stocks-roadmap-ascent-list\/#Why_Waaree_Energies_Features_Among_These_Power_Equipment_Manufacturer_Stocks\" title=\"Why Waaree Energies Features Among These Power Equipment Manufacturer Stocks\">Why Waaree Energies Features Among These Power Equipment Manufacturer Stocks<\/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\/industrial-steam-turbines-power-transformers-and-solar-panels-stocks-roadmap-ascent-list\/#Triveni_Turbine_vs_Atlanta_Electricals_vs_Waaree_Energies_on_Key_Financials\" title=\"Triveni Turbine vs Atlanta Electricals vs Waaree Energies on Key Financials\">Triveni Turbine vs Atlanta Electricals vs Waaree Energies 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\/industrial-steam-turbines-power-transformers-and-solar-panels-stocks-roadmap-ascent-list\/#Key_Risks_to_Check_Before_Investing_in_Power_Equipment_Manufacturer_Stocks\" title=\"Key Risks to Check Before Investing in Power Equipment Manufacturer Stocks\">Key Risks to Check Before Investing in Power Equipment Manufacturer Stocks<\/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\/industrial-steam-turbines-power-transformers-and-solar-panels-stocks-roadmap-ascent-list\/#Final_Thoughts_on_Power_Equipment_Manufacturer_Stocks\" title=\"Final Thoughts on Power Equipment Manufacturer Stocks\">Final Thoughts on Power Equipment Manufacturer Stocks<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/industrial-steam-turbines-power-transformers-and-solar-panels-stocks-roadmap-ascent-list\/#What_are_power_equipment_manufacturer_stocks\" title=\"What are power equipment manufacturer stocks?\">What are power equipment manufacturer stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/industrial-steam-turbines-power-transformers-and-solar-panels-stocks-roadmap-ascent-list\/#Which_power_equipment_manufacturer_stocks_are_covered_in_this_list\" title=\"Which power equipment manufacturer stocks are covered in this list?\">Which power equipment manufacturer stocks are covered in this list?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/industrial-steam-turbines-power-transformers-and-solar-panels-stocks-roadmap-ascent-list\/#Why_do_power_equipment_manufacturer_stocks_have_a_strong_future_roadmap_in_India\" title=\"Why do power equipment manufacturer stocks have a strong future roadmap in India?\">Why do power equipment manufacturer stocks have a strong future roadmap in India?<\/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\/industrial-steam-turbines-power-transformers-and-solar-panels-stocks-roadmap-ascent-list\/#How_has_Triveni_Turbine_performed_financially\" title=\"How has Triveni Turbine performed financially?\">How has Triveni Turbine performed financially?<\/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\/industrial-steam-turbines-power-transformers-and-solar-panels-stocks-roadmap-ascent-list\/#How_has_Atlanta_Electricals_performed_financially\" title=\"How has Atlanta Electricals performed financially?\">How has Atlanta Electricals performed financially?<\/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\/industrial-steam-turbines-power-transformers-and-solar-panels-stocks-roadmap-ascent-list\/#How_has_Waaree_Energies_performed_financially\" title=\"How has Waaree Energies performed financially?\">How has Waaree Energies performed financially?<\/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\/industrial-steam-turbines-power-transformers-and-solar-panels-stocks-roadmap-ascent-list\/#What_risks_should_investors_check_before_buying_power_equipment_manufacturer_stocks\" title=\"What risks should investors check before buying power equipment manufacturer stocks?\">What risks should investors check before buying power equipment manufacturer 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\/industrial-steam-turbines-power-transformers-and-solar-panels-stocks-roadmap-ascent-list\/#Is_this_list_of_power_equipment_manufacturer_stocks_investment_advice\" title=\"Is this list of power equipment manufacturer stocks investment advice?\">Is this list of power equipment manufacturer stocks investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Power_Equipment_Manufacturer_Stocks\"><\/span><strong>What Are Power Equipment Manufacturer Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Power equipment manufacturer stocks are listed companies that make turbines, transformers and solar modules for utilities, industry and renewable projects. Their earnings follow order books, capacity use and exports.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Power_Equipment_Manufacturer_Stocks_at_a_Glance\"><\/span><strong>Power Equipment Manufacturer Stocks at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<thead>\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;\">D\/E<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/triturbine\/triveni-turbine-ltd-share-price-today\">Triveni Turbine<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">484.7<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15,418<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">45.9<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">43.9<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">24.2<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.02<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/atlantaele\/atlanta-electricals-ltd-share-price-today\">Atlanta Electricals<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,688.7<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">12,995<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">59.8<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">43.9<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">21.7<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.05<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/waareeener\/waaree-energies-ltd-share-price-today\">Waaree Energies<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,515<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">72,290<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">18.1<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">43.9<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">25.7<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.22<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>On valuation, Waaree Energies trades at a P\/E below the industry P\/E, while Triveni Turbine and Atlanta Electricals trade above it, which reflects the growth the market already expects. Readers comparing power equipment manufacturer stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Do_Power_Equipment_Manufacturer_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Power Equipment Manufacturer Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Power equipment manufacturer stocks have a strong roadmap in India because power demand is rising, renewable capacity is expanding and grid and industrial investment is increasing.<\/p>\n<ul>\n<li><strong>Industrial power.<\/strong> Factories adopt efficient turbines for captive and process power.<\/li>\n<li><strong>Grid upgrades.<\/strong> Transformer demand rises with new substations and renewable links.<\/li>\n<li><strong>Solar installations.<\/strong> Rapid solar build-out lifts demand for modules.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Why_Triveni_Turbine_Features_Among_These_Power_Equipment_Manufacturer_Stocks\"><\/span><strong>Why Triveni Turbine Features Among These Power Equipment Manufacturer Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the power equipment manufacturer 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.<\/p>\n<p>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%.<\/p>\n<p>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.<\/p>\n<p><strong>Roadmap:<\/strong> 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.<\/p>\n<p><strong>What to watch:<\/strong> Track order inflows, since turbine deliveries follow orders with a lag.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Atlanta_Electricals_Features_Among_These_Power_Equipment_Manufacturer_Stocks\"><\/span><strong>Why Atlanta Electricals Features Among These Power Equipment Manufacturer Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the turbine and transformer shares on this list, Atlanta Electricals, based in Gujarat, manufactures power and distribution transformers and related electrical equipment for utilities and industrial customers.<\/p>\n<p>In the June 2026 quarter, revenue grew 47.6% year on year to Rs 469 crore, while net profit rose 50.4% to Rs 46.8 crore. Revenue rose from Rs 597 crore in FY22 to Rs 1,867 crore in FY26, a compound annual growth rate of 33.0%.<\/p>\n<p>Net profit grew from Rs 87.5 crore in FY23 to Rs 202 crore in FY26, which works out to a compound annual growth rate of 32.1%. The company has a return on equity of 21.7%, a debt to equity ratio of 0.05 and a market capitalisation of Rs 12,995 crore. The stock trades at a P\/E of 59.8, above the industry P\/E of 43.9.<\/p>\n<p><strong>Roadmap:<\/strong> Transmission and distribution spending, rising electricity demand and renewable power connections keep the transformer order book active. The company is adding capacity to meet this demand and to serve larger customers.<\/p>\n<p><strong>What to watch:<\/strong> Monitor order backlog conversion and the pace of capacity additions.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Waaree_Energies_Features_Among_These_Power_Equipment_Manufacturer_Stocks\"><\/span><strong>Why Waaree Energies Features Among These Power Equipment Manufacturer Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the three companies on this list, Waaree Energies is one of India&#8217;s largest manufacturers of solar photovoltaic modules, with factories in Gujarat, and it also provides solar project engineering and has expanded into cells and related products.<\/p>\n<p>The company has a return on equity of 25.7%, a debt to equity ratio of 0.22 and a market capitalisation of Rs 72,290 crore. The stock trades at a P\/E of 18.1, below the industry P\/E of 43.9.<\/p>\n<p>Revenue rose from Rs 2,951 crore in FY22 to Rs 27,245 crore in FY26, a compound annual growth rate of 74.3%. Net profit grew from Rs 1,274 crore in FY24 to Rs 3,884 crore in FY26, which works out to a compound annual growth rate of 74.6%.<\/p>\n<p><strong>Roadmap:<\/strong> The company is adding module, cell and wafer capacity to build a deeper in-house supply chain, in line with domestic manufacturing incentives and rapid growth in solar installations. A strong order book from domestic and overseas customers supports volumes.<\/p>\n<p><strong>What to watch:<\/strong> Track the commissioning of new cell and module capacity and the order book for the coming quarters.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Triveni_Turbine_vs_Atlanta_Electricals_vs_Waaree_Energies_on_Key_Financials\"><\/span><strong>Triveni Turbine vs Atlanta Electricals vs Waaree Energies on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table below sets the three power equipment manufacturer stocks side by side on revenue, profit and margin, using reported figures.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<thead>\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;\">FY22 Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY26 Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Revenue CAGR (FY22-FY26)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY26 Net Profit (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY26 Net Margin<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Triveni Turbine<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">882<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,258<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">26.5%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">349<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15.5%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Atlanta Electricals<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">597<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,867<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">33.0%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">202<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10.8%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Waaree Energies<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,951<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">27,245<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">74.3%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3,884<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">14.3%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>Waaree Energies posts the highest return on equity in this group at 25.7%. Waaree Energies combines the largest FY26 revenue at Rs 27,245 crore with the fastest revenue growth, a 74.3% compound annual rate.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Risks_to_Check_Before_Investing_in_Power_Equipment_Manufacturer_Stocks\"><\/span><strong>Key Risks to Check Before Investing in Power Equipment Manufacturer Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Every theme carries risks that deserve a check before any decision. For these power equipment manufacturer stocks, the main points are:<\/p>\n<ul>\n<li><strong>Order timing.<\/strong> Utility and industrial orders can vary between quarters.<\/li>\n<li><strong>Metal prices.<\/strong> Copper, steel and silicon costs influence margins.<\/li>\n<li><strong>Valuation levels.<\/strong> Some of these companies trade at high earnings multiples, so growth must continue to justify them.<\/li>\n<\/ul>\n<p>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.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Use the Univest Stock Screener<\/a><\/strong> to filter power equipment manufacturer stocks by market capitalisation, P\/E, ROE and growth, and build your own shortlist.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Final_Thoughts_on_Power_Equipment_Manufacturer_Stocks\"><\/span><strong>Final Thoughts on Power Equipment Manufacturer Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Power equipment manufacturer stocks reward investors who follow order inflow and capacity use. Triveni Turbine, Atlanta Electricals and Waaree Energies each serve a different link in the power chain. Based on the 20 October 2026 close, Triveni Turbine trades at Rs 484.7, Atlanta Electricals at Rs 1,688.7 and Waaree Energies at Rs 2,515.<\/p>\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 power equipment manufacturer stocks, set price alerts and get research-backed stock ideas.<\/em><\/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<\/div>\n<h3><span class=\"ez-toc-section\" id=\"What_are_power_equipment_manufacturer_stocks\"><\/span><strong>What are power equipment manufacturer stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Power equipment manufacturer stocks are listed companies that make turbines, transformers and solar modules for utilities, industry and renewable projects. Their earnings follow order books, capacity use and exports. This list looks at three of them, Triveni Turbine, Atlanta Electricals and Waaree Energies, using reported FY22 to FY26 financials and the 20 October 2026 closing prices.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_power_equipment_manufacturer_stocks_are_covered_in_this_list\"><\/span><strong>Which power equipment manufacturer stocks are covered in this list?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> This list covers Triveni Turbine, Atlanta Electricals and Waaree Energies. Based on the 20 October 2026 close, Triveni Turbine traded at Rs 484.7, Atlanta Electricals at Rs 1,688.7 and Waaree Energies at Rs 2,515. Their return on equity ranges from 21.7% to 25.7%, and their revenue compound annual growth from FY22 to FY26 ranges from 26.5% to 74.3%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_do_power_equipment_manufacturer_stocks_have_a_strong_future_roadmap_in_India\"><\/span><strong>Why do power equipment manufacturer stocks have a strong future roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Power equipment manufacturer stocks have a strong roadmap in India because power demand is rising, renewable capacity is expanding and grid and industrial investment is increasing. The main drivers are as follows. Industrial power. Factories adopt efficient turbines for captive and process power. Grid upgrades. Transformer demand rises with new substations and renewable links. Solar installations. Rapid solar build-out lifts demand for modules. Together these factors give the companies on this list a visible path for growth over the coming years.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Triveni_Turbine_performed_financially\"><\/span><strong>How has Triveni Turbine performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> 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.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Atlanta_Electricals_performed_financially\"><\/span><strong>How has Atlanta Electricals performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 597 crore in FY22 to Rs 1,867 crore in FY26, a compound annual growth rate of 33.0%. Net profit grew from Rs 87.5 crore in FY23 to Rs 202 crore in FY26, which works out to a compound annual growth rate of 32.1%. In the June 2026 quarter, revenue grew 47.6% year on year to Rs 469 crore, while net profit rose 50.4% to Rs 46.8 crore. The company has a return on equity of 21.7%, a debt to equity ratio of 0.05 and a market capitalisation of Rs 12,995 crore. The stock trades at a P\/E of 59.8, above the industry P\/E of 43.9. Looking ahead, transmission and distribution spending, rising electricity demand and renewable power connections keep the transformer order book active. The company is adding capacity to meet this demand and to serve larger customers.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Waaree_Energies_performed_financially\"><\/span><strong>How has Waaree Energies performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 2,951 crore in FY22 to Rs 27,245 crore in FY26, a compound annual growth rate of 74.3%. Net profit grew from Rs 1,274 crore in FY24 to Rs 3,884 crore in FY26, which works out to a compound annual growth rate of 74.6%. The company has a return on equity of 25.7%, a debt to equity ratio of 0.22 and a market capitalisation of Rs 72,290 crore. The stock trades at a P\/E of 18.1, below the industry P\/E of 43.9. Looking ahead, the company is adding module, cell and wafer capacity to build a deeper in-house supply chain, in line with domestic manufacturing incentives and rapid growth in solar installations. A strong order book from domestic and overseas customers supports volumes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_risks_should_investors_check_before_buying_power_equipment_manufacturer_stocks\"><\/span><strong>What risks should investors check before buying power equipment manufacturer stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Investors should check a few risks before buying power equipment manufacturer stocks. Order timing. Utility and industrial orders can vary between quarters. Metal prices. Copper, steel and silicon costs influence 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.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_list_of_power_equipment_manufacturer_stocks_investment_advice\"><\/span><strong>Is this list of power equipment manufacturer stocks investment advice?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. This article is educational and uses publicly available data as of the 20 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.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What are power equipment manufacturer stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Power equipment manufacturer stocks are listed companies that make turbines, transformers and solar modules for utilities, industry and renewable projects. Their earnings follow order books, capacity use and exports. This list looks at three of them, Triveni Turbine, Atlanta Electricals and Waaree Energies, using reported FY22 to FY26 financials and the 20 October 2026 closing prices.\"}},{\"@type\":\"Question\",\"name\":\"Which power equipment manufacturer stocks are covered in this list?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"This list covers Triveni Turbine, Atlanta Electricals and Waaree Energies. Based on the 20 October 2026 close, Triveni Turbine traded at Rs 484.7, Atlanta Electricals at Rs 1,688.7 and Waaree Energies at Rs 2,515. Their return on equity ranges from 21.7% to 25.7%, and their revenue compound annual growth from FY22 to FY26 ranges from 26.5% to 74.3%.\"}},{\"@type\":\"Question\",\"name\":\"Why do power equipment manufacturer stocks have a strong future roadmap in India?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Power equipment manufacturer stocks have a strong roadmap in India because power demand is rising, renewable capacity is expanding and grid and industrial investment is increasing. The main drivers are as follows. Industrial power. Factories adopt efficient turbines for captive and process power. Grid upgrades. Transformer demand rises with new substations and renewable links. Solar installations. Rapid solar build-out lifts demand for modules. 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A healthy order book gives visibility into the coming quarters, and a debt-free balance sheet supports expansion.\"}},{\"@type\":\"Question\",\"name\":\"How has Atlanta Electricals performed financially?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Revenue rose from Rs 597 crore in FY22 to Rs 1,867 crore in FY26, a compound annual growth rate of 33.0%. Net profit grew from Rs 87.5 crore in FY23 to Rs 202 crore in FY26, which works out to a compound annual growth rate of 32.1%. In the June 2026 quarter, revenue grew 47.6% year on year to Rs 469 crore, while net profit rose 50.4% to Rs 46.8 crore. The company has a return on equity of 21.7%, a debt to equity ratio of 0.05 and a market capitalisation of Rs 12,995 crore. The stock trades at a P\/E of 59.8, above the industry P\/E of 43.9. Looking ahead, transmission and distribution spending, rising electricity demand and renewable power connections keep the transformer order book active. 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A strong order book from domestic and overseas customers supports volumes.\"}},{\"@type\":\"Question\",\"name\":\"What risks should investors check before buying power equipment manufacturer stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Investors should check a few risks before buying power equipment manufacturer stocks. Order timing. Utility and industrial orders can vary between quarters. Metal prices. Copper, steel and silicon costs influence 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.\"}},{\"@type\":\"Question\",\"name\":\"Is this list of power equipment manufacturer stocks investment advice?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No. This article is educational and uses publicly available data as of the 20 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.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Power Equipment Manufacturer Stocks with a strong future roadmap: Triveni Turbine, Atlanta Electricals and Waaree Energies. Compare price, valuation, return on equity and revenue growth as of 20 October 2026.<\/p>\n","protected":false},"author":35,"featured_media":321105,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[9060,3803,14066,14068,10606,14067,7515],"class_list":["post-321107","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-atlanta-electricals","tag-best-stocks","tag-power-equipment-manufacturer-stocks","tag-solar-panel-stocks","tag-triveni-turbine","tag-turbine-and-transformer-shares","tag-waaree-energies"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["321105"],"rank_math_title":["Power Equipment Manufacturer Stocks With a Roadmap"],"rank_math_description":["Compare 3 power equipment manufacturer stocks with a strong future roadmap on CMP, market cap, P\/E, ROE and revenue growth. 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