{"id":331975,"date":"2026-10-29T12:52:45","date_gmt":"2026-10-29T07:22:45","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=331975"},"modified":"2026-10-29T12:52:45","modified_gmt":"2026-10-29T07:22:45","slug":"largest-power-generator-solar-cell-and-module-maker-and-industrial-steam-turbine-maker-stocks-roadmap-questlist-list","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/largest-power-generator-solar-cell-and-module-maker-and-industrial-steam-turbine-maker-stocks-roadmap-questlist-list\/","title":{"rendered":"3 Largest Power Generator, Solar Cell and Module Maker and Industrial Steam Turbine Maker Stocks With a Strong Future Roadmap: NTPC, Saatvik Green Energy and Triveni Turbine"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E84;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>NTPC, Saatvik Green Energy and Triveni Turbine: ROE of 13.3% to 26.2% and FY22 to FY26 revenue CAGR of 8.9% to 65.1%. Prices as of 28 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:#1F4E84;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">The three power generator, solar cell and turbine stocks to watch are NTPC, Saatvik Green Energy and Triveni Turbine. Their return on equity ranges from 13.3% to 26.2%, and their revenue compound annual growth from FY22 to FY26 ranges from 8.9% to 65.1%. Saatvik Green Energy leads on both return on equity at 26.2% and revenue growth at 65.1% a year. Prices are based on the 28 October 2026 close, and this article is educational, not investment advice.<\/p>\n<\/div>\n<p>Power generator, solar cell and turbine stocks give investors a way to track businesses that sit close to everyday demand in India. NTPC, Saatvik Green Energy and Triveni Turbine cover the largest power generator, a solar cell and module maker and an industrial steam turbine maker.<\/p>\n<p>This list covers three power generator, solar cell and turbine stocks with complete current figures: NTPC, Saatvik Green Energy and Triveni Turbine. Every figure comes from the latest reported financials and the 28 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=largest-power-generator-solar-cell-and-module-maker-and-industrial-steam-turbine-maker-stocks-roadmap-questlist-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\/largest-power-generator-solar-cell-and-module-maker-and-industrial-steam-turbine-maker-stocks-roadmap-questlist-list\/#What_Are_Power_Generator_Solar_Cell_and_Turbine_Stocks\" title=\"What Are Power Generator, Solar Cell and Turbine Stocks?\">What Are Power Generator, Solar Cell and Turbine 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\/largest-power-generator-solar-cell-and-module-maker-and-industrial-steam-turbine-maker-stocks-roadmap-questlist-list\/#Power_Generator_Solar_Cell_and_Turbine_Stocks_at_a_Glance\" title=\"Power Generator, Solar Cell and Turbine Stocks at a Glance\">Power Generator, Solar Cell and Turbine 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\/largest-power-generator-solar-cell-and-module-maker-and-industrial-steam-turbine-maker-stocks-roadmap-questlist-list\/#Why_Do_Power_Generator_Solar_Cell_and_Turbine_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Power Generator, Solar Cell and Turbine Stocks Have a Strong Roadmap in India?\">Why Do Power Generator, Solar Cell and Turbine 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\/largest-power-generator-solar-cell-and-module-maker-and-industrial-steam-turbine-maker-stocks-roadmap-questlist-list\/#Why_NTPC_Features_Among_These_Power_Generator_Solar_Cell_and_Turbine_Stocks\" title=\"Why NTPC Features Among These Power Generator, Solar Cell and Turbine Stocks\">Why NTPC Features Among These Power Generator, Solar Cell and Turbine 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\/largest-power-generator-solar-cell-and-module-maker-and-industrial-steam-turbine-maker-stocks-roadmap-questlist-list\/#Why_Saatvik_Green_Energy_Features_Among_These_Power_Generator_Solar_Cell_and_Turbine_Stocks\" title=\"Why Saatvik Green Energy Features Among These Power Generator, Solar Cell and Turbine Stocks\">Why Saatvik Green Energy Features Among These Power Generator, Solar Cell and Turbine 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\/largest-power-generator-solar-cell-and-module-maker-and-industrial-steam-turbine-maker-stocks-roadmap-questlist-list\/#Why_Triveni_Turbine_Features_Among_These_Power_Generator_Solar_Cell_and_Turbine_Stocks\" title=\"Why Triveni Turbine Features Among These Power Generator, Solar Cell and Turbine Stocks\">Why Triveni Turbine Features Among These Power Generator, Solar Cell and Turbine 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\/largest-power-generator-solar-cell-and-module-maker-and-industrial-steam-turbine-maker-stocks-roadmap-questlist-list\/#NTPC_vs_Saatvik_Green_Energy_vs_Triveni_Turbine_on_Key_Financials\" title=\"NTPC vs Saatvik Green Energy vs Triveni Turbine on Key Financials\">NTPC vs Saatvik Green Energy vs Triveni Turbine 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\/largest-power-generator-solar-cell-and-module-maker-and-industrial-steam-turbine-maker-stocks-roadmap-questlist-list\/#Key_Risks_to_Check_Before_Investing_in_Power_Generator_Solar_Cell_and_Turbine_Stocks\" title=\"Key Risks to Check Before Investing in Power Generator, Solar Cell and Turbine Stocks\">Key Risks to Check Before Investing in Power Generator, Solar Cell and Turbine 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\/largest-power-generator-solar-cell-and-module-maker-and-industrial-steam-turbine-maker-stocks-roadmap-questlist-list\/#Final_Thoughts_on_Power_Generator_Solar_Cell_and_Turbine_Stocks\" title=\"Final Thoughts on Power Generator, Solar Cell and Turbine Stocks\">Final Thoughts on Power Generator, Solar Cell and Turbine 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\/largest-power-generator-solar-cell-and-module-maker-and-industrial-steam-turbine-maker-stocks-roadmap-questlist-list\/#What_are_power_generator_solar_cell_and_turbine_stocks\" title=\"What are power generator, solar cell and turbine stocks?\">What are power generator, solar cell and turbine 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\/largest-power-generator-solar-cell-and-module-maker-and-industrial-steam-turbine-maker-stocks-roadmap-questlist-list\/#Which_power_generator_solar_cell_and_turbine_stocks_are_covered_in_this_list\" title=\"Which power generator, solar cell and turbine stocks are covered in this list?\">Which power generator, solar cell and turbine 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\/largest-power-generator-solar-cell-and-module-maker-and-industrial-steam-turbine-maker-stocks-roadmap-questlist-list\/#Why_do_power_generator_solar_cell_and_turbine_stocks_have_a_strong_future_roadmap_in_India\" title=\"Why do power generator, solar cell and turbine stocks have a strong future roadmap in India?\">Why do power generator, solar cell and turbine 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\/largest-power-generator-solar-cell-and-module-maker-and-industrial-steam-turbine-maker-stocks-roadmap-questlist-list\/#How_has_NTPC_performed_financially\" title=\"How has NTPC performed financially?\">How has NTPC 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\/largest-power-generator-solar-cell-and-module-maker-and-industrial-steam-turbine-maker-stocks-roadmap-questlist-list\/#How_has_Saatvik_Green_Energy_performed_financially\" title=\"How has Saatvik Green Energy performed financially?\">How has Saatvik Green Energy 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\/largest-power-generator-solar-cell-and-module-maker-and-industrial-steam-turbine-maker-stocks-roadmap-questlist-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-16\" href=\"https:\/\/univest.in\/blogs-2\/largest-power-generator-solar-cell-and-module-maker-and-industrial-steam-turbine-maker-stocks-roadmap-questlist-list\/#What_risks_should_investors_check_before_buying_power_generator_solar_cell_and_turbine_stocks\" title=\"What risks should investors check before buying power generator, solar cell and turbine stocks?\">What risks should investors check before buying power generator, solar cell and turbine 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\/largest-power-generator-solar-cell-and-module-maker-and-industrial-steam-turbine-maker-stocks-roadmap-questlist-list\/#Is_this_list_of_power_generator_solar_cell_and_turbine_stocks_investment_advice\" title=\"Is this list of power generator, solar cell and turbine stocks investment advice?\">Is this list of power generator, solar cell and turbine stocks investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Power_Generator_Solar_Cell_and_Turbine_Stocks\"><\/span><strong>What Are Power Generator, Solar Cell and Turbine Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Power generator, solar cell and turbine stocks are listed companies that generate electricity from thermal, hydro and renewable plants, make solar cells and modules for utility, commercial and rooftop projects, and build steam turbines for industry, sugar mills and waste to energy plants. Their earnings depend on power demand, project orders and equipment pricing.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Power_Generator_Solar_Cell_and_Turbine_Stocks_at_a_Glance\"><\/span><strong>Power Generator, Solar Cell and Turbine 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\/ntpc\/ntpc-ltd-share-price-today\">NTPC<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">303.75<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">292,694<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10.3<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">21.3<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">13.3<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1.33<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/saatvikgl\/saatvik-green-energy-ltd-share-price-today\">Saatvik Green Energy<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">349.25<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,934<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">20.1<\/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;\">26.2<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.69<\/td>\n<\/tr>\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;\">455.6<\/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<\/tbody>\n<\/table>\n<\/div>\n<p>On valuation, NTPC and Saatvik Green Energy trade at a P\/E below the industry P\/E, while Triveni Turbine trades above it, which reflects the growth the market already expects. Readers comparing power generator, solar cell and turbine 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_Generator_Solar_Cell_and_Turbine_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Power Generator, Solar Cell and Turbine Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Power generator, solar cell and turbine stocks have a strong roadmap in India because rising electricity demand, a growing green energy pipeline and industrial need for captive power keep widening the market for these power and equipment companies.<\/p>\n<ul>\n<li><strong>Power demand.<\/strong> Electricity use grows with factories and cities.<\/li>\n<li><strong>Green pipeline.<\/strong> Solar and renewable plans add new capacity.<\/li>\n<li><strong>Aftermarket income.<\/strong> Installed turbines need regular service.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Why_NTPC_Features_Among_These_Power_Generator_Solar_Cell_and_Turbine_Stocks\"><\/span><strong>Why NTPC Features Among These Power Generator, Solar Cell and Turbine Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the power generator, solar cell and turbine stocks on this list, NTPC is India&#8217;s largest power generation company, with thermal, hydro and renewable plants and a growing pipeline of green energy projects.<\/p>\n<p>The company has a return on equity of 13.3%, a debt to equity ratio of 1.33 and a market capitalisation of Rs 292,694 crore. The stock trades at a P\/E of 10.3, below the industry P\/E of 21.3.<\/p>\n<p>Revenue rose from Rs 134,994 crore in FY22 to Rs 189,799 crore in FY26, a compound annual growth rate of 8.9%. Net profit grew from Rs 15,474 crore in FY22 to Rs 30,010 crore in FY26, which works out to a compound annual growth rate of 18.0%. In the June 2026 quarter, revenue grew 6.9% year on year to Rs 51,142 crore, while net profit rose 12.9% to Rs 6,896 crore.<\/p>\n<p><strong>Roadmap:<\/strong> The company is adding thermal capacity to meet rising electricity demand while building a large renewable portfolio. Long-term power purchase agreements give it steady visibility.<\/p>\n<p><strong>What to watch:<\/strong> Follow capacity additions, renewable progress and plant availability.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Saatvik_Green_Energy_Features_Among_These_Power_Generator_Solar_Cell_and_Turbine_Stocks\"><\/span><strong>Why Saatvik Green Energy Features Among These Power Generator, Solar Cell and Turbine Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the power generation and equipment shares on this list, Saatvik Green Energy is a Haryana-based manufacturer of solar photovoltaic modules and cells that supplies utility-scale, commercial and rooftop solar projects.<\/p>\n<p>Revenue rose from Rs 618 crore in FY22 to Rs 4,588 crore in FY26, a compound annual growth rate of 65.1%. Net profit grew from Rs 217 crore in FY25 to Rs 357 crore in FY26, a rise of 64.5%.<\/p>\n<p>The company has a return on equity of 26.2%, a debt to equity ratio of 0.69 and a market capitalisation of Rs 4,934 crore. The stock trades at a P\/E of 20.1, below the industry P\/E of 43.9.<\/p>\n<p><strong>Roadmap:<\/strong> The company is adding module and cell capacity to meet rising demand for locally made solar equipment and is building a more integrated production chain. India&#8217;s solar capacity targets support a steady flow of orders.<\/p>\n<p><strong>What to watch:<\/strong> Track capacity additions, order book growth and solar policy support.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Triveni_Turbine_Features_Among_These_Power_Generator_Solar_Cell_and_Turbine_Stocks\"><\/span><strong>Why Triveni Turbine Features Among These Power Generator, Solar Cell and Turbine Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the three companies 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>In the June 2026 quarter, revenue grew 19.7% year on year to Rs 471 crore. Revenue rose from Rs 882 crore in FY22 to Rs 2,258 crore in FY26, a compound annual growth rate of 26.5%.<\/p>\n<p>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%. 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=\"NTPC_vs_Saatvik_Green_Energy_vs_Triveni_Turbine_on_Key_Financials\"><\/span><strong>NTPC vs Saatvik Green Energy vs Triveni Turbine on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table below sets the three power generator, solar cell and turbine 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;\">NTPC<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">134,994<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">189,799<\/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;\">30,010<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15.8%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Saatvik Green Energy<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">618<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,588<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">65.1%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">357<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">7.8%<\/td>\n<\/tr>\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<\/tbody>\n<\/table>\n<\/div>\n<p>Saatvik Green Energy posts the highest return on equity in this group at 26.2%. NTPC has the largest FY26 revenue at Rs 189,799 crore, and Saatvik Green Energy shows the fastest revenue growth with a 65.1% compound annual rate. A useful habit with power generator, solar cell and turbine 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_Power_Generator_Solar_Cell_and_Turbine_Stocks\"><\/span><strong>Key Risks to Check Before Investing in Power Generator, Solar Cell and Turbine 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 generator, solar cell and turbine stocks, the main points are: Long-term power generation and equipment 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>Fuel and power prices.<\/strong> Tariffs and fuel costs can influence earnings.<\/li>\n<li><strong>Module prices.<\/strong> Solar equipment prices and policy support can change returns.<\/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 generator, solar cell and turbine 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_Generator_Solar_Cell_and_Turbine_Stocks\"><\/span><strong>Final Thoughts on Power Generator, Solar Cell and Turbine Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Power generator, solar cell and turbine stocks work best when investors track growth, valuation and return on equity side by side. NTPC, Saatvik Green Energy and Triveni Turbine each have a clear plan to grow. Based on the 28 October 2026 close, NTPC trades at Rs 303.75, Saatvik Green Energy at Rs 349.25 and Triveni Turbine at Rs 455.6. Valuation matters as much as growth, so compare each company&#8217;s P\/E with its industry P\/E before adding any of these power generator, solar cell and turbine stocks to a watchlist.<\/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 generator, solar cell and turbine 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_generator_solar_cell_and_turbine_stocks\"><\/span><strong>What are power generator, solar cell and turbine stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Power generator, solar cell and turbine stocks are listed companies that generate electricity from thermal, hydro and renewable plants, make solar cells and modules for utility, commercial and rooftop projects, and build steam turbines for industry, sugar mills and waste to energy plants. Their earnings depend on power demand, project orders and equipment pricing. This list looks at three of them, NTPC, Saatvik Green Energy and Triveni Turbine, using reported FY22 to FY26 financials and the 28 October 2026 closing prices.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_power_generator_solar_cell_and_turbine_stocks_are_covered_in_this_list\"><\/span><strong>Which power generator, solar cell and turbine stocks are covered in this list?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> This list covers NTPC, Saatvik Green Energy and Triveni Turbine. Based on the 28 October 2026 close, NTPC traded at Rs 303.75, Saatvik Green Energy at Rs 349.25 and Triveni Turbine at Rs 455.6. Their return on equity ranges from 13.3% to 26.2%, and their revenue compound annual growth from FY22 to FY26 ranges from 8.9% to 65.1%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_do_power_generator_solar_cell_and_turbine_stocks_have_a_strong_future_roadmap_in_India\"><\/span><strong>Why do power generator, solar cell and turbine stocks have a strong future roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Power generator, solar cell and turbine stocks have a strong roadmap in India because rising electricity demand, a growing green energy pipeline and industrial need for captive power keep widening the market for these power and equipment companies. The main drivers are as follows. Power demand. Electricity use grows with factories and cities. Green pipeline. Solar and renewable plans add new capacity. Aftermarket income. Installed turbines need regular service. 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_NTPC_performed_financially\"><\/span><strong>How has NTPC performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 134,994 crore in FY22 to Rs 189,799 crore in FY26, a compound annual growth rate of 8.9%. Net profit grew from Rs 15,474 crore in FY22 to Rs 30,010 crore in FY26, which works out to a compound annual growth rate of 18.0%. In the June 2026 quarter, revenue grew 6.9% year on year to Rs 51,142 crore, while net profit rose 12.9% to Rs 6,896 crore. The company has a return on equity of 13.3%, a debt to equity ratio of 1.33 and a market capitalisation of Rs 292,694 crore. The stock trades at a P\/E of 10.3, below the industry P\/E of 21.3. Looking ahead, the company is adding thermal capacity to meet rising electricity demand while building a large renewable portfolio. Long-term power purchase agreements give it steady visibility.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Saatvik_Green_Energy_performed_financially\"><\/span><strong>How has Saatvik Green Energy performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 618 crore in FY22 to Rs 4,588 crore in FY26, a compound annual growth rate of 65.1%. Net profit grew from Rs 217 crore in FY25 to Rs 357 crore in FY26, a rise of 64.5%. The company has a return on equity of 26.2%, a debt to equity ratio of 0.69 and a market capitalisation of Rs 4,934 crore. The stock trades at a P\/E of 20.1, below the industry P\/E of 43.9. Looking ahead, the company is adding module and cell capacity to meet rising demand for locally made solar equipment and is building a more integrated production chain. India&#8217;s solar capacity targets support a steady flow of orders.<\/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=\"What_risks_should_investors_check_before_buying_power_generator_solar_cell_and_turbine_stocks\"><\/span><strong>What risks should investors check before buying power generator, solar cell and turbine stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Investors should check a few risks before buying power generator, solar cell and turbine stocks. Fuel and power prices. Tariffs and fuel costs can influence earnings. Module prices. Solar equipment prices and policy support can change returns. 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_generator_solar_cell_and_turbine_stocks_investment_advice\"><\/span><strong>Is this list of power generator, solar cell and turbine 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 28 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What are power generator, solar cell and turbine stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Power generator, solar cell and turbine stocks are listed companies that generate electricity from thermal, hydro and renewable plants, make solar cells and modules for utility, commercial and rooftop projects, and build steam turbines for industry, sugar mills and waste to energy plants. Their earnings depend on power demand, project orders and equipment pricing. This list looks at three of them, NTPC, Saatvik Green Energy and Triveni Turbine, using reported FY22 to FY26 financials and the 28 October 2026 closing prices.\"}},{\"@type\":\"Question\",\"name\":\"Which power generator, solar cell and turbine stocks are covered in this list?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"This list covers NTPC, Saatvik Green Energy and Triveni Turbine. Based on the 28 October 2026 close, NTPC traded at Rs 303.75, Saatvik Green Energy at Rs 349.25 and Triveni Turbine at Rs 455.6. Their return on equity ranges from 13.3% to 26.2%, and their revenue compound annual growth from FY22 to FY26 ranges from 8.9% to 65.1%.\"}},{\"@type\":\"Question\",\"name\":\"Why do power generator, solar cell and turbine stocks have a strong future roadmap in India?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Power generator, solar cell and turbine stocks have a strong roadmap in India because rising electricity demand, a growing green energy pipeline and industrial need for captive power keep widening the market for these power and equipment companies. The main drivers are as follows. Power demand. Electricity use grows with factories and cities. Green pipeline. Solar and renewable plans add new capacity. Aftermarket income. Installed turbines need regular service. Together these factors give the companies on this list a visible path for growth over the coming years.\"}},{\"@type\":\"Question\",\"name\":\"How has NTPC performed financially?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Revenue rose from Rs 134,994 crore in FY22 to Rs 189,799 crore in FY26, a compound annual growth rate of 8.9%. Net profit grew from Rs 15,474 crore in FY22 to Rs 30,010 crore in FY26, which works out to a compound annual growth rate of 18.0%. In the June 2026 quarter, revenue grew 6.9% year on year to Rs 51,142 crore, while net profit rose 12.9% to Rs 6,896 crore. The company has a return on equity of 13.3%, a debt to equity ratio of 1.33 and a market capitalisation of Rs 292,694 crore. The stock trades at a P\/E of 10.3, below the industry P\/E of 21.3. Looking ahead, the company is adding thermal capacity to meet rising electricity demand while building a large renewable portfolio. Long-term power purchase agreements give it steady visibility.\"}},{\"@type\":\"Question\",\"name\":\"How has Saatvik Green Energy performed financially?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Revenue rose from Rs 618 crore in FY22 to Rs 4,588 crore in FY26, a compound annual growth rate of 65.1%. Net profit grew from Rs 217 crore in FY25 to Rs 357 crore in FY26, a rise of 64.5%. The company has a return on equity of 26.2%, a debt to equity ratio of 0.69 and a market capitalisation of Rs 4,934 crore. The stock trades at a P\/E of 20.1, below the industry P\/E of 43.9. Looking ahead, the company is adding module and cell capacity to meet rising demand for locally made solar equipment and is building a more integrated production chain. India's solar capacity targets support a steady flow of orders.\"}},{\"@type\":\"Question\",\"name\":\"How has Triveni Turbine performed financially?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"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.\"}},{\"@type\":\"Question\",\"name\":\"What risks should investors check before buying power generator, solar cell and turbine stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Investors should check a few risks before buying power generator, solar cell and turbine stocks. Fuel and power prices. Tariffs and fuel costs can influence earnings. Module prices. Solar equipment prices and policy support can change returns. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. 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Compare price, valuation, return on equity and revenue growth as of 28 October 2026.<\/p>\n","protected":false},"author":28,"featured_media":331972,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[3803,18026,7399,18025,18023,17204,18024,10606],"class_list":["post-331975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-best-stocks","tag-electricity-and-turbine-equipment-stocks","tag-ntpc","tag-power-generation-and-equipment-shares","tag-power-generator","tag-saatvik-green-energy","tag-solar-cell-and-turbine-stocks","tag-triveni-turbine"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["331972"],"rank_math_title":["Power Generator, Solar Cell and Steam Turbine Stocks"],"rank_math_description":["Compare 3 power generator, solar cell and turbine stocks with a strong future roadmap on CMP, market cap, P\/E, ROE and revenue growth. 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