{"id":327015,"date":"2026-10-26T16:45:48","date_gmt":"2026-10-26T11:15:48","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=327015"},"modified":"2026-10-26T16:45:48","modified_gmt":"2026-10-26T11:15:48","slug":"winding-wires-specialist-motors-and-transformers-producer-and-boilers-and-energy-solutions-provider-stocks-roadmap-summit-list","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/winding-wires-specialist-motors-and-transformers-producer-and-boilers-and-energy-solutions-provider-stocks-roadmap-summit-list\/","title":{"rendered":"3 Winding Wires Specialist, Motors and Transformers Producer and Boilers and Energy Solutions Provider Stocks With a Strong Future Roadmap: Ram Ratna Wires, CG Power and Industrial Solutions and Thermax"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Ram Ratna Wires, CG Power and Industrial Solutions and Thermax: ROE of 13.0% to 18.5% and FY22 to FY26 revenue CAGR of 15.3% to 23.1%. Prices as of 23 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 winding wire, motor and boiler stocks to watch are Ram Ratna Wires, CG Power and Industrial Solutions and Thermax. Their return on equity ranges from 13.0% to 18.5%, and their revenue compound annual growth from FY22 to FY26 ranges from 15.3% to 23.1%. Ram Ratna Wires has the highest return on equity at 18.5%, while CG Power and Industrial Solutions has the fastest revenue growth at 23.1% a year. Prices are based on the 23 October 2026 close, and this article is educational, not investment advice.<\/p>\n<\/div>\n<p>Winding wire, motor and boiler stocks offer a focused view of a sector where demand keeps widening. Ram Ratna Wires, CG Power and Industrial Solutions and Thermax cover a winding wires specialist, a motors and transformers producer and a boilers and energy solutions provider.<\/p>\n<p>This list covers three winding wire, motor and boiler stocks with complete current figures: Ram Ratna Wires, CG Power and Industrial Solutions and Thermax. Every figure comes from the latest reported financials and the 23 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=winding-wires-specialist-motors-and-transformers-producer-and-boilers-and-energy-solutions-provider-stocks-roadmap-summit-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\/winding-wires-specialist-motors-and-transformers-producer-and-boilers-and-energy-solutions-provider-stocks-roadmap-summit-list\/#What_Are_Winding_Wire_Motor_and_Boiler_Stocks\" title=\"What Are Winding Wire, Motor and Boiler Stocks?\">What Are Winding Wire, Motor and Boiler 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\/winding-wires-specialist-motors-and-transformers-producer-and-boilers-and-energy-solutions-provider-stocks-roadmap-summit-list\/#Winding_Wire_Motor_and_Boiler_Stocks_at_a_Glance\" title=\"Winding Wire, Motor and Boiler Stocks at a Glance\">Winding Wire, Motor and Boiler 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\/winding-wires-specialist-motors-and-transformers-producer-and-boilers-and-energy-solutions-provider-stocks-roadmap-summit-list\/#Why_Do_Winding_Wire_Motor_and_Boiler_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Winding Wire, Motor and Boiler Stocks Have a Strong Roadmap in India?\">Why Do Winding Wire, Motor and Boiler 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\/winding-wires-specialist-motors-and-transformers-producer-and-boilers-and-energy-solutions-provider-stocks-roadmap-summit-list\/#Why_Ram_Ratna_Wires_Features_Among_These_Winding_Wire_Motor_and_Boiler_Stocks\" title=\"Why Ram Ratna Wires Features Among These Winding Wire, Motor and Boiler Stocks\">Why Ram Ratna Wires Features Among These Winding Wire, Motor and Boiler 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\/winding-wires-specialist-motors-and-transformers-producer-and-boilers-and-energy-solutions-provider-stocks-roadmap-summit-list\/#Why_CG_Power_and_Industrial_Solutions_Features_Among_These_Winding_Wire_Motor_and_Boiler_Stocks\" title=\"Why CG Power and Industrial Solutions Features Among These Winding Wire, Motor and Boiler Stocks\">Why CG Power and Industrial Solutions Features Among These Winding Wire, Motor and Boiler 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\/winding-wires-specialist-motors-and-transformers-producer-and-boilers-and-energy-solutions-provider-stocks-roadmap-summit-list\/#Why_Thermax_Features_Among_These_Winding_Wire_Motor_and_Boiler_Stocks\" title=\"Why Thermax Features Among These Winding Wire, Motor and Boiler Stocks\">Why Thermax Features Among These Winding Wire, Motor and Boiler 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\/winding-wires-specialist-motors-and-transformers-producer-and-boilers-and-energy-solutions-provider-stocks-roadmap-summit-list\/#Ram_Ratna_Wires_vs_CG_Power_and_Industrial_Solutions_vs_Thermax_on_Key_Financials\" title=\"Ram Ratna Wires vs CG Power and Industrial Solutions vs Thermax on Key Financials\">Ram Ratna Wires vs CG Power and Industrial Solutions vs Thermax 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\/winding-wires-specialist-motors-and-transformers-producer-and-boilers-and-energy-solutions-provider-stocks-roadmap-summit-list\/#Key_Risks_to_Check_Before_Investing_in_Winding_Wire_Motor_and_Boiler_Stocks\" title=\"Key Risks to Check Before Investing in Winding Wire, Motor and Boiler Stocks\">Key Risks to Check Before Investing in Winding Wire, Motor and Boiler 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\/winding-wires-specialist-motors-and-transformers-producer-and-boilers-and-energy-solutions-provider-stocks-roadmap-summit-list\/#Final_Thoughts_on_Winding_Wire_Motor_and_Boiler_Stocks\" title=\"Final Thoughts on Winding Wire, Motor and Boiler Stocks\">Final Thoughts on Winding Wire, Motor and Boiler 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\/winding-wires-specialist-motors-and-transformers-producer-and-boilers-and-energy-solutions-provider-stocks-roadmap-summit-list\/#What_are_winding_wire_motor_and_boiler_stocks\" title=\"What are winding wire, motor and boiler stocks?\">What are winding wire, motor and boiler 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\/winding-wires-specialist-motors-and-transformers-producer-and-boilers-and-energy-solutions-provider-stocks-roadmap-summit-list\/#Which_winding_wire_motor_and_boiler_stocks_are_covered_in_this_list\" title=\"Which winding wire, motor and boiler stocks are covered in this list?\">Which winding wire, motor and boiler 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\/winding-wires-specialist-motors-and-transformers-producer-and-boilers-and-energy-solutions-provider-stocks-roadmap-summit-list\/#Why_do_winding_wire_motor_and_boiler_stocks_have_a_strong_future_roadmap_in_India\" title=\"Why do winding wire, motor and boiler stocks have a strong future roadmap in India?\">Why do winding wire, motor and boiler 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\/winding-wires-specialist-motors-and-transformers-producer-and-boilers-and-energy-solutions-provider-stocks-roadmap-summit-list\/#How_has_Ram_Ratna_Wires_performed_financially\" title=\"How has Ram Ratna Wires performed financially?\">How has Ram Ratna Wires 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\/winding-wires-specialist-motors-and-transformers-producer-and-boilers-and-energy-solutions-provider-stocks-roadmap-summit-list\/#How_has_CG_Power_and_Industrial_Solutions_performed_financially\" title=\"How has CG Power and Industrial Solutions performed financially?\">How has CG Power and Industrial Solutions 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\/winding-wires-specialist-motors-and-transformers-producer-and-boilers-and-energy-solutions-provider-stocks-roadmap-summit-list\/#How_has_Thermax_performed_financially\" title=\"How has Thermax performed financially?\">How has Thermax 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\/winding-wires-specialist-motors-and-transformers-producer-and-boilers-and-energy-solutions-provider-stocks-roadmap-summit-list\/#What_risks_should_investors_check_before_buying_winding_wire_motor_and_boiler_stocks\" title=\"What risks should investors check before buying winding wire, motor and boiler stocks?\">What risks should investors check before buying winding wire, motor and boiler 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\/winding-wires-specialist-motors-and-transformers-producer-and-boilers-and-energy-solutions-provider-stocks-roadmap-summit-list\/#Is_this_list_of_winding_wire_motor_and_boiler_stocks_investment_advice\" title=\"Is this list of winding wire, motor and boiler stocks investment advice?\">Is this list of winding wire, motor and boiler stocks investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Winding_Wire_Motor_and_Boiler_Stocks\"><\/span><strong>What Are Winding Wire, Motor and Boiler Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Winding wire, motor and boiler stocks are listed engineering companies that make conductors, electrical machines and heating and cooling systems for utilities and factories. Their earnings depend on factory investment, grid spending, order books and input costs.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Winding_Wire_Motor_and_Boiler_Stocks_at_a_Glance\"><\/span><strong>Winding Wire, Motor and Boiler 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\/ramrat\/ram-ratna-wires-ltd-share-price-today\">Ram Ratna Wires<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">533.15<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5,049<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">39.5<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11.3<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">18.5<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1.13<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/cgpower\/cg-power-and-industrial-solutions-ltd-share-price-today\">CG Power and Industrial Solutions<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">813.35<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">134,561<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">108.5<\/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;\">15.1<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.01<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/thermax\/thermax-ltd-share-price-today\">Thermax<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3,096<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">38,542<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">65.2<\/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;\">13.0<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.42<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>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 winding wire, motor and boiler 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_Winding_Wire_Motor_and_Boiler_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Winding Wire, Motor and Boiler Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Winding wire, motor and boiler stocks have a strong roadmap in India because grid upgrades, factory expansion and the push for efficient energy use keep lifting demand for electrical and thermal equipment.<\/p>\n<ul>\n<li><strong>Grid upgrades.<\/strong> Utilities buy transformers and winding wires.<\/li>\n<li><strong>Factory investment.<\/strong> Plants add motors, drives and boilers.<\/li>\n<li><strong>Energy efficiency.<\/strong> Clean heat and cooling systems gain interest.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Why_Ram_Ratna_Wires_Features_Among_These_Winding_Wire_Motor_and_Boiler_Stocks\"><\/span><strong>Why Ram Ratna Wires Features Among These Winding Wire, Motor and Boiler Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the winding wire, motor and boiler stocks on this list, Ram Ratna Wires makes winding wires, conductors and related products used in transformers, motors, generators and electrical equipment. It supplies major manufacturers of power and industrial machines.<\/p>\n<p>Revenue rose from Rs 2,295 crore in FY22 to Rs 5,195 crore in FY26, a compound annual growth rate of 22.7%. Net profit grew from Rs 54.2 crore in FY22 to Rs 109 crore in FY26, which works out to a compound annual growth rate of 19.0%.<\/p>\n<p>The company has a return on equity of 18.5%, a debt to equity ratio of 1.13 and a market capitalisation of Rs 5,049 crore. The stock trades at a P\/E of 39.5, above the industry P\/E of 11.3.<\/p>\n<p><strong>Roadmap:<\/strong> The company is benefiting from higher spending on power transmission, renewable energy and electrical equipment. Added capacity and a wider product range help it serve large equipment makers.<\/p>\n<p><strong>What to watch:<\/strong> Track winding wire volumes, copper pass-through pricing and new capacity.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_CG_Power_and_Industrial_Solutions_Features_Among_These_Winding_Wire_Motor_and_Boiler_Stocks\"><\/span><strong>Why CG Power and Industrial Solutions Features Among These Winding Wire, Motor and Boiler Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the copper conductor company shares on this list, CG Power and Industrial Solutions makes transformers, motors, switchgear, drives and railway equipment for utilities, industry and railways, and has also entered semiconductor packaging.<\/p>\n<p>In the June 2026 quarter, revenue grew 15.8% year on year to Rs 3,364 crore, while net profit rose 15.5% to Rs 308 crore. Revenue rose from Rs 5,521 crore in FY22 to Rs 12,662 crore in FY26, a compound annual growth rate of 23.1%.<\/p>\n<p>Net profit grew from Rs 630 crore in FY22 to Rs 1,197 crore in FY26, which works out to a compound annual growth rate of 17.4%. The company has a return on equity of 15.1%, a debt to equity ratio of 0.01 and a market capitalisation of Rs 134,561 crore. The stock trades at a P\/E of 108.5, above the industry P\/E of 43.9.<\/p>\n<p><strong>Roadmap:<\/strong> The company is growing in power systems and industrial systems on the back of grid expansion and factory investment. It has built an outsourced semiconductor assembly and test plant, which opens a new technology line.<\/p>\n<p><strong>What to watch:<\/strong> Monitor the ramp-up of its semiconductor facility and order intake in power systems.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Thermax_Features_Among_These_Winding_Wire_Motor_and_Boiler_Stocks\"><\/span><strong>Why Thermax Features Among These Winding Wire, Motor and Boiler Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the three companies on this list, Thermax provides energy and environment solutions, including boilers, cooling systems, air pollution control and water treatment, to industries in India and overseas.<\/p>\n<p>The company has a return on equity of 13.0%, a debt to equity ratio of 0.42 and a market capitalisation of Rs 38,542 crore. The stock trades at a P\/E of 65.2, above the industry P\/E of 43.9.<\/p>\n<p>Revenue rose from Rs 6,255 crore in FY22 to Rs 11,041 crore in FY26, a compound annual growth rate of 15.3%. Net profit grew from Rs 312 crore in FY22 to Rs 720 crore in FY26, which works out to a compound annual growth rate of 23.2%. In the June 2026 quarter, revenue grew 6.6% year on year to Rs 2,371 crore.<\/p>\n<p><strong>Roadmap:<\/strong> The company benefits from industrial demand for cleaner and more efficient energy systems. Rising focus on emission control and process efficiency supports a healthy pipeline of orders.<\/p>\n<p><strong>What to watch:<\/strong> Track order inflows, industrial capital spending and progress in cleaner energy products.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ram_Ratna_Wires_vs_CG_Power_and_Industrial_Solutions_vs_Thermax_on_Key_Financials\"><\/span><strong>Ram Ratna Wires vs CG Power and Industrial Solutions vs Thermax on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table below sets the three winding wire, motor and boiler 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;\">Ram Ratna Wires<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,295<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5,195<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">22.7%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">109<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2.1%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">CG Power and Industrial Solutions<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5,521<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">12,662<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">23.1%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,197<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9.5%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Thermax<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">6,255<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11,041<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15.3%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">720<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">6.5%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>Ram Ratna Wires posts the highest return on equity in this group at 18.5%. CG Power and Industrial Solutions combines the largest FY26 revenue at Rs 12,662 crore with the fastest revenue growth, a 23.1% compound annual rate. A useful habit with winding wire, motor and boiler stocks is to check each new quarterly result against the capacity plans the company described earlier.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Risks_to_Check_Before_Investing_in_Winding_Wire_Motor_and_Boiler_Stocks\"><\/span><strong>Key Risks to Check Before Investing in Winding Wire, Motor and Boiler 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 winding wire, motor and boiler stocks, the main points are: Long-term copper conductor company shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.<\/p>\n<ul>\n<li><strong>Input costs.<\/strong> Copper and steel prices affect margins.<\/li>\n<li><strong>Order timing.<\/strong> Project orders can shift between periods.<\/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 winding wire, motor and boiler 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_Winding_Wire_Motor_and_Boiler_Stocks\"><\/span><strong>Final Thoughts on Winding Wire, Motor and Boiler Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Winding wire, motor and boiler stocks reward patient research into demand, execution and financial strength. Ram Ratna Wires, CG Power and Industrial Solutions and Thermax each have a clear plan to grow. Based on the 23 October 2026 close, Ram Ratna Wires trades at Rs 533.15, CG Power and Industrial Solutions at Rs 813.35 and Thermax at Rs 3,096.<\/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 winding wire, motor and boiler 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_winding_wire_motor_and_boiler_stocks\"><\/span><strong>What are winding wire, motor and boiler stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Winding wire, motor and boiler stocks are listed engineering companies that make conductors, electrical machines and heating and cooling systems for utilities and factories. Their earnings depend on factory investment, grid spending, order books and input costs. This list looks at three of them, Ram Ratna Wires, CG Power and Industrial Solutions and Thermax, using reported FY22 to FY26 financials and the 23 October 2026 closing prices.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_winding_wire_motor_and_boiler_stocks_are_covered_in_this_list\"><\/span><strong>Which winding wire, motor and boiler stocks are covered in this list?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> This list covers Ram Ratna Wires, CG Power and Industrial Solutions and Thermax. Based on the 23 October 2026 close, Ram Ratna Wires traded at Rs 533.15, CG Power and Industrial Solutions at Rs 813.35 and Thermax at Rs 3,096. Their return on equity ranges from 13.0% to 18.5%, and their revenue compound annual growth from FY22 to FY26 ranges from 15.3% to 23.1%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_do_winding_wire_motor_and_boiler_stocks_have_a_strong_future_roadmap_in_India\"><\/span><strong>Why do winding wire, motor and boiler stocks have a strong future roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Winding wire, motor and boiler stocks have a strong roadmap in India because grid upgrades, factory expansion and the push for efficient energy use keep lifting demand for electrical and thermal equipment. The main drivers are as follows. Grid upgrades. Utilities buy transformers and winding wires. Factory investment. Plants add motors, drives and boilers. Energy efficiency. Clean heat and cooling systems gain interest. 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_Ram_Ratna_Wires_performed_financially\"><\/span><strong>How has Ram Ratna Wires performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 2,295 crore in FY22 to Rs 5,195 crore in FY26, a compound annual growth rate of 22.7%. Net profit grew from Rs 54.2 crore in FY22 to Rs 109 crore in FY26, which works out to a compound annual growth rate of 19.0%. The company has a return on equity of 18.5%, a debt to equity ratio of 1.13 and a market capitalisation of Rs 5,049 crore. The stock trades at a P\/E of 39.5, above the industry P\/E of 11.3. Looking ahead, the company is benefiting from higher spending on power transmission, renewable energy and electrical equipment. Added capacity and a wider product range help it serve large equipment makers.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_CG_Power_and_Industrial_Solutions_performed_financially\"><\/span><strong>How has CG Power and Industrial Solutions performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 5,521 crore in FY22 to Rs 12,662 crore in FY26, a compound annual growth rate of 23.1%. Net profit grew from Rs 630 crore in FY22 to Rs 1,197 crore in FY26, which works out to a compound annual growth rate of 17.4%. In the June 2026 quarter, revenue grew 15.8% year on year to Rs 3,364 crore, while net profit rose 15.5% to Rs 308 crore. The company has a return on equity of 15.1%, a debt to equity ratio of 0.01 and a market capitalisation of Rs 134,561 crore. The stock trades at a P\/E of 108.5, above the industry P\/E of 43.9. Looking ahead, the company is growing in power systems and industrial systems on the back of grid expansion and factory investment. It has built an outsourced semiconductor assembly and test plant, which opens a new technology line.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Thermax_performed_financially\"><\/span><strong>How has Thermax performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 6,255 crore in FY22 to Rs 11,041 crore in FY26, a compound annual growth rate of 15.3%. Net profit grew from Rs 312 crore in FY22 to Rs 720 crore in FY26, which works out to a compound annual growth rate of 23.2%. In the June 2026 quarter, revenue grew 6.6% year on year to Rs 2,371 crore. The company has a return on equity of 13.0%, a debt to equity ratio of 0.42 and a market capitalisation of Rs 38,542 crore. The stock trades at a P\/E of 65.2, above the industry P\/E of 43.9. Looking ahead, the company benefits from industrial demand for cleaner and more efficient energy systems. Rising focus on emission control and process efficiency supports a healthy pipeline of orders.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_risks_should_investors_check_before_buying_winding_wire_motor_and_boiler_stocks\"><\/span><strong>What risks should investors check before buying winding wire, motor and boiler stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Investors should check a few risks before buying winding wire, motor and boiler stocks. Input costs. Copper and steel prices affect margins. Order timing. Project orders can shift between periods. 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_winding_wire_motor_and_boiler_stocks_investment_advice\"><\/span><strong>Is this list of winding wire, motor and boiler 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 23 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 winding wire, motor and boiler stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Winding wire, motor and boiler stocks are listed engineering companies that make conductors, electrical machines and heating and cooling systems for utilities and factories. Their earnings depend on factory investment, grid spending, order books and input costs. This list looks at three of them, Ram Ratna Wires, CG Power and Industrial Solutions and Thermax, using reported FY22 to FY26 financials and the 23 October 2026 closing prices.\"}},{\"@type\":\"Question\",\"name\":\"Which winding wire, motor and boiler stocks are covered in this list?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"This list covers Ram Ratna Wires, CG Power and Industrial Solutions and Thermax. Based on the 23 October 2026 close, Ram Ratna Wires traded at Rs 533.15, CG Power and Industrial Solutions at Rs 813.35 and Thermax at Rs 3,096. Their return on equity ranges from 13.0% to 18.5%, and their revenue compound annual growth from FY22 to FY26 ranges from 15.3% to 23.1%.\"}},{\"@type\":\"Question\",\"name\":\"Why do winding wire, motor and boiler stocks have a strong future roadmap in India?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Winding wire, motor and boiler stocks have a strong roadmap in India because grid upgrades, factory expansion and the push for efficient energy use keep lifting demand for electrical and thermal equipment. The main drivers are as follows. Grid upgrades. Utilities buy transformers and winding wires. Factory investment. Plants add motors, drives and boilers. Energy efficiency. Clean heat and cooling systems gain interest. 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Added capacity and a wider product range help it serve large equipment makers.\"}},{\"@type\":\"Question\",\"name\":\"How has CG Power and Industrial Solutions performed financially?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Revenue rose from Rs 5,521 crore in FY22 to Rs 12,662 crore in FY26, a compound annual growth rate of 23.1%. Net profit grew from Rs 630 crore in FY22 to Rs 1,197 crore in FY26, which works out to a compound annual growth rate of 17.4%. In the June 2026 quarter, revenue grew 15.8% year on year to Rs 3,364 crore, while net profit rose 15.5% to Rs 308 crore. The company has a return on equity of 15.1%, a debt to equity ratio of 0.01 and a market capitalisation of Rs 134,561 crore. The stock trades at a P\/E of 108.5, above the industry P\/E of 43.9. Looking ahead, the company is growing in power systems and industrial systems on the back of grid expansion and factory investment. It has built an outsourced semiconductor assembly and test plant, which opens a new technology line.\"}},{\"@type\":\"Question\",\"name\":\"How has Thermax performed financially?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Revenue rose from Rs 6,255 crore in FY22 to Rs 11,041 crore in FY26, a compound annual growth rate of 15.3%. Net profit grew from Rs 312 crore in FY22 to Rs 720 crore in FY26, which works out to a compound annual growth rate of 23.2%. In the June 2026 quarter, revenue grew 6.6% year on year to Rs 2,371 crore. The company has a return on equity of 13.0%, a debt to equity ratio of 0.42 and a market capitalisation of Rs 38,542 crore. The stock trades at a P\/E of 65.2, above the industry P\/E of 43.9. Looking ahead, the company benefits from industrial demand for cleaner and more efficient energy systems. Rising focus on emission control and process efficiency supports a healthy pipeline of orders.\"}},{\"@type\":\"Question\",\"name\":\"What risks should investors check before buying winding wire, motor and boiler stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Investors should check a few risks before buying winding wire, motor and boiler stocks. Input costs. Copper and steel prices affect margins. Order timing. Project orders can shift between periods. 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 winding wire, motor and boiler stocks investment advice?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No. This article is educational and uses publicly available data as of the 23 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>Winding Wire, Motor and Boiler Stocks with a strong future roadmap: Ram Ratna Wires, CG Power and Industrial Solutions and Thermax. Compare price, valuation, return on equity and revenue growth as of 23 October 2026.<\/p>\n","protected":false},"author":28,"featured_media":327014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[3803,13986,16174,16173,7269,7051,16175,16172],"class_list":["post-327015","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-best-stocks","tag-cg-power-and-industrial-solutions","tag-copper-conductor-company-shares","tag-motor-and-boiler-stocks","tag-ram-ratna-wires","tag-thermax","tag-transformer-and-energy-solutions-stocks","tag-winding-wire"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["327014"],"rank_math_title":["Winding Wire, Motor and Boiler Stocks"],"rank_math_description":["Compare 3 winding wire, motor and boiler stocks with a strong future roadmap on CMP, market cap, P\/E, ROE and revenue growth. 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