{"id":338871,"date":"2026-11-04T13:24:04","date_gmt":"2026-11-04T07:54:04","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=338871"},"modified":"2026-11-04T13:24:04","modified_gmt":"2026-11-04T07:54:04","slug":"kolkata-electricity-distributor-aluminium-and-alumina-producer-and-solar-panels-maker-stocks-roadmap-harborline-list","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/kolkata-electricity-distributor-aluminium-and-alumina-producer-and-solar-panels-maker-stocks-roadmap-harborline-list\/","title":{"rendered":"3 Kolkata Electricity Distributor, Aluminium and Alumina Producer and Solar Panels Maker Stocks With a Strong Future Roadmap: CESC, National Aluminium Company and Saatvik Green Energy"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E84;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>CESC, National Aluminium Company and Saatvik Green Energy: ROE of 12.3% to 26.8% and FY22 to FY26 revenue CAGR of 6.3% to 65.1%. Prices as of 3 Nov 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 utility, aluminium and solar module stocks to watch are CESC, National Aluminium Company and Saatvik Green Energy. Their return on equity ranges from 12.3% to 26.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 6.3% to 65.1%. National Aluminium Company has the highest return on equity at 26.8%, while Saatvik Green Energy has the fastest revenue growth at 65.1% a year. Prices are based on the 3 November 2026 close, and this article is educational, not investment advice.<\/p>\n<\/div>\n<p>Power utility, aluminium and solar module stocks offer a focused view of a sector where demand keeps widening. CESC, National Aluminium Company and Saatvik Green Energy cover a power utility, an aluminium producer and a solar modules maker.<\/p>\n<p>This list covers three power utility, aluminium and solar module stocks with complete current figures: CESC, National Aluminium Company and Saatvik Green Energy. Every figure comes from the latest reported financials and the 3 November 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=kolkata-electricity-distributor-aluminium-and-alumina-producer-and-solar-panels-maker-stocks-roadmap-harborline-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\/kolkata-electricity-distributor-aluminium-and-alumina-producer-and-solar-panels-maker-stocks-roadmap-harborline-list\/#What_Are_Power_Utility_Aluminium_and_Solar_Module_Stocks\" title=\"What Are Power Utility, Aluminium and Solar Module Stocks?\">What Are Power Utility, Aluminium and Solar Module 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\/kolkata-electricity-distributor-aluminium-and-alumina-producer-and-solar-panels-maker-stocks-roadmap-harborline-list\/#Power_Utility_Aluminium_and_Solar_Module_Stocks_at_a_Glance\" title=\"Power Utility, Aluminium and Solar Module Stocks at a Glance\">Power Utility, Aluminium and Solar Module 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\/kolkata-electricity-distributor-aluminium-and-alumina-producer-and-solar-panels-maker-stocks-roadmap-harborline-list\/#Why_Do_Power_Utility_Aluminium_and_Solar_Module_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Power Utility, Aluminium and Solar Module Stocks Have a Strong Roadmap in India?\">Why Do Power Utility, Aluminium and Solar Module 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\/kolkata-electricity-distributor-aluminium-and-alumina-producer-and-solar-panels-maker-stocks-roadmap-harborline-list\/#Why_CESC_Features_Among_These_Power_Utility_Aluminium_and_Solar_Module_Stocks\" title=\"Why CESC Features Among These Power Utility, Aluminium and Solar Module Stocks\">Why CESC Features Among These Power Utility, Aluminium and Solar Module 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\/kolkata-electricity-distributor-aluminium-and-alumina-producer-and-solar-panels-maker-stocks-roadmap-harborline-list\/#Why_National_Aluminium_Company_Features_Among_These_Power_Utility_Aluminium_and_Solar_Module_Stocks\" title=\"Why National Aluminium Company Features Among These Power Utility, Aluminium and Solar Module Stocks\">Why National Aluminium Company Features Among These Power Utility, Aluminium and Solar Module 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\/kolkata-electricity-distributor-aluminium-and-alumina-producer-and-solar-panels-maker-stocks-roadmap-harborline-list\/#Why_Saatvik_Green_Energy_Features_Among_These_Power_Utility_Aluminium_and_Solar_Module_Stocks\" title=\"Why Saatvik Green Energy Features Among These Power Utility, Aluminium and Solar Module Stocks\">Why Saatvik Green Energy Features Among These Power Utility, Aluminium and Solar Module 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\/kolkata-electricity-distributor-aluminium-and-alumina-producer-and-solar-panels-maker-stocks-roadmap-harborline-list\/#CESC_vs_National_Aluminium_Company_vs_Saatvik_Green_Energy_on_Key_Financials\" title=\"CESC vs National Aluminium Company vs Saatvik Green Energy on Key Financials\">CESC vs National Aluminium Company vs Saatvik Green Energy 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\/kolkata-electricity-distributor-aluminium-and-alumina-producer-and-solar-panels-maker-stocks-roadmap-harborline-list\/#Key_Risks_to_Check_Before_Investing_in_Power_Utility_Aluminium_and_Solar_Module_Stocks\" title=\"Key Risks to Check Before Investing in Power Utility, Aluminium and Solar Module Stocks\">Key Risks to Check Before Investing in Power Utility, Aluminium and Solar Module 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\/kolkata-electricity-distributor-aluminium-and-alumina-producer-and-solar-panels-maker-stocks-roadmap-harborline-list\/#Final_Thoughts_on_Power_Utility_Aluminium_and_Solar_Module_Stocks\" title=\"Final Thoughts on Power Utility, Aluminium and Solar Module Stocks\">Final Thoughts on Power Utility, Aluminium and Solar Module 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\/kolkata-electricity-distributor-aluminium-and-alumina-producer-and-solar-panels-maker-stocks-roadmap-harborline-list\/#What_are_power_utility_aluminium_and_solar_module_stocks\" title=\"What are power utility, aluminium and solar module stocks?\">What are power utility, aluminium and solar module 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\/kolkata-electricity-distributor-aluminium-and-alumina-producer-and-solar-panels-maker-stocks-roadmap-harborline-list\/#Which_power_utility_aluminium_and_solar_module_stocks_are_covered_in_this_list\" title=\"Which power utility, aluminium and solar module stocks are covered in this list?\">Which power utility, aluminium and solar module 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\/kolkata-electricity-distributor-aluminium-and-alumina-producer-and-solar-panels-maker-stocks-roadmap-harborline-list\/#Why_do_power_utility_aluminium_and_solar_module_stocks_have_a_strong_future_roadmap_in_India\" title=\"Why do power utility, aluminium and solar module stocks have a strong future roadmap in India?\">Why do power utility, aluminium and solar module 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\/kolkata-electricity-distributor-aluminium-and-alumina-producer-and-solar-panels-maker-stocks-roadmap-harborline-list\/#How_has_CESC_performed_financially\" title=\"How has CESC performed financially?\">How has CESC 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\/kolkata-electricity-distributor-aluminium-and-alumina-producer-and-solar-panels-maker-stocks-roadmap-harborline-list\/#How_has_National_Aluminium_Company_performed_financially\" title=\"How has National Aluminium Company performed financially?\">How has National Aluminium Company 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\/kolkata-electricity-distributor-aluminium-and-alumina-producer-and-solar-panels-maker-stocks-roadmap-harborline-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-16\" href=\"https:\/\/univest.in\/blogs-2\/kolkata-electricity-distributor-aluminium-and-alumina-producer-and-solar-panels-maker-stocks-roadmap-harborline-list\/#What_risks_should_investors_check_before_buying_power_utility_aluminium_and_solar_module_stocks\" title=\"What risks should investors check before buying power utility, aluminium and solar module stocks?\">What risks should investors check before buying power utility, aluminium and solar module 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\/kolkata-electricity-distributor-aluminium-and-alumina-producer-and-solar-panels-maker-stocks-roadmap-harborline-list\/#Is_this_list_of_power_utility_aluminium_and_solar_module_stocks_investment_advice\" title=\"Is this list of power utility, aluminium and solar module stocks investment advice?\">Is this list of power utility, aluminium and solar module stocks investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Power_Utility_Aluminium_and_Solar_Module_Stocks\"><\/span><strong>What Are Power Utility, Aluminium and Solar Module Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Power utility, aluminium and solar module stocks are listed companies that generate and distribute electricity with a growing renewable platform, mine bauxite and produce alumina and aluminium, and make solar modules and cells for utility, commercial and rooftop projects. Their earnings depend on power demand, metal prices and solar installations.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Power_Utility_Aluminium_and_Solar_Module_Stocks_at_a_Glance\"><\/span><strong>Power Utility, Aluminium and Solar Module 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\/cesc\/cesc-ltd-share-price-today\">CESC<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">128.52<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17,716<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10.9<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">21.8<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">12.3<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1.73<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/nationalum\/national-aluminium-company-ltd-share-price-today\">National Aluminium Company<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">317.55<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">58,387<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">8.7<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11.6<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">26.8<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.00<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><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;\">357.75<\/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<\/tbody>\n<\/table>\n<\/div>\n<p>On valuation, all three trade at a P\/E below their industry P\/E, which means the market is pricing them at a lower multiple than their peer group. Readers comparing power utility, aluminium and solar module 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_Utility_Aluminium_and_Solar_Module_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Power Utility, Aluminium and Solar Module Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Power utility, aluminium and solar module stocks have a strong roadmap in India because rising power demand, growing use of light metal and large solar capacity plans keep widening the market for these energy and metal companies.<\/p>\n<ul>\n<li><strong>Power utility.<\/strong> City electricity demand keeps rising.<\/li>\n<li><strong>Aluminium.<\/strong> Power lines and vehicles use light metal.<\/li>\n<li><strong>Solar modules.<\/strong> Rooftop and utility projects add demand.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Why_CESC_Features_Among_These_Power_Utility_Aluminium_and_Solar_Module_Stocks\"><\/span><strong>Why CESC Features Among These Power Utility, Aluminium and Solar Module Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the power utility, aluminium and solar module stocks on this list, CESC is a Kolkata-based power company that generates and distributes electricity to Kolkata and Howrah, and it also runs distribution businesses in other states and a growing renewable energy platform through its subsidiary.<\/p>\n<p>Revenue rose from Rs 12,827 crore in FY22 to Rs 18,927 crore in FY26, a compound annual growth rate of 10.2%. Net profit grew from Rs 1,447 crore in FY24 to Rs 1,618 crore in FY26, which works out to a compound annual growth rate of 5.7%.<\/p>\n<p>In the June 2026 quarter, revenue grew 5.2% year on year to Rs 5,559 crore, while net profit rose 3.7% to Rs 419 crore. The company has a return on equity of 12.3%, a debt to equity ratio of 1.73 and a market capitalisation of Rs 17,716 crore. The stock trades at a P\/E of 10.9, below the industry P\/E of 21.8.<\/p>\n<p><strong>Roadmap:<\/strong> The company is expanding its renewable portfolio and distribution reach, using a stable city distribution franchise as the base. It also holds retail and other businesses that add diversification.<\/p>\n<p><strong>What to watch:<\/strong> Track renewable capacity addition and the progress of newer distribution franchises.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_National_Aluminium_Company_Features_Among_These_Power_Utility_Aluminium_and_Solar_Module_Stocks\"><\/span><strong>Why National Aluminium Company Features Among These Power Utility, Aluminium and Solar Module Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the utility and aluminium shares on this list, National Aluminium Company, known as NALCO, is a public sector firm that mines bauxite, refines alumina and produces aluminium, with captive power generation in Odisha.<\/p>\n<p>In the June 2026 quarter, revenue grew 39.3% year on year to Rs 5,476 crore, while net profit rose 90.9% to Rs 2,003 crore. Revenue rose from Rs 14,478 crore in FY22 to Rs 18,509 crore in FY26, a compound annual growth rate of 6.3%.<\/p>\n<p>Net profit grew from Rs 2,951 crore in FY22 to Rs 5,797 crore in FY26, which works out to a compound annual growth rate of 18.4%. The company has a return on equity of 26.8%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 58,387 crore. The stock trades at a P\/E of 8.7, below the industry P\/E of 11.6.<\/p>\n<p><strong>Roadmap:<\/strong> The company is one of the lowest-cost integrated aluminium producers and plans to expand its mine, refinery and smelter capacity. A debt-free balance sheet and strong cash flows support these investments.<\/p>\n<p><strong>What to watch:<\/strong> Follow aluminium and alumina price trends and the pace of its expansion projects.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Saatvik_Green_Energy_Features_Among_These_Power_Utility_Aluminium_and_Solar_Module_Stocks\"><\/span><strong>Why Saatvik Green Energy Features Among These Power Utility, Aluminium and Solar Module Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the three companies 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>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>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><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=\"CESC_vs_National_Aluminium_Company_vs_Saatvik_Green_Energy_on_Key_Financials\"><\/span><strong>CESC vs National Aluminium Company vs Saatvik Green Energy on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table below sets the three power utility, aluminium and solar module 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;\">CESC<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">12,827<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">18,927<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10.2%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,618<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">8.5%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">National Aluminium Company<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">14,478<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">18,509<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">6.3%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5,797<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">31.3%<\/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<\/tbody>\n<\/table>\n<\/div>\n<p>National Aluminium Company posts the highest return on equity in this group at 26.8%. CESC has the largest FY26 revenue at Rs 18,927 crore, and Saatvik Green Energy shows the fastest revenue growth with a 65.1% compound annual rate. A useful habit with power utility, aluminium and solar module 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_Utility_Aluminium_and_Solar_Module_Stocks\"><\/span><strong>Key Risks to Check Before Investing in Power Utility, Aluminium and Solar Module 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 utility, aluminium and solar module stocks, the main points are: Long-term utility and aluminium 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>Commodity prices.<\/strong> Selling prices follow global and domestic markets.<\/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 utility, aluminium and solar module 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_Utility_Aluminium_and_Solar_Module_Stocks\"><\/span><strong>Final Thoughts on Power Utility, Aluminium and Solar Module Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Power utility, aluminium and solar module stocks reward patient research into demand, execution and financial strength. CESC, National Aluminium Company and Saatvik Green Energy each have a clear plan to grow. Based on the 3 November 2026 close, CESC trades at Rs 128.52, National Aluminium Company at Rs 317.55 and Saatvik Green Energy at Rs 357.75. 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 utility, aluminium and solar module 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 utility, aluminium and solar module 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_utility_aluminium_and_solar_module_stocks\"><\/span><strong>What are power utility, aluminium and solar module stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Power utility, aluminium and solar module stocks are listed companies that generate and distribute electricity with a growing renewable platform, mine bauxite and produce alumina and aluminium, and make solar modules and cells for utility, commercial and rooftop projects. Their earnings depend on power demand, metal prices and solar installations. This list looks at three of them, CESC, National Aluminium Company and Saatvik Green Energy, using reported FY22 to FY26 financials and the 3 November 2026 closing prices.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_power_utility_aluminium_and_solar_module_stocks_are_covered_in_this_list\"><\/span><strong>Which power utility, aluminium and solar module stocks are covered in this list?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> This list covers CESC, National Aluminium Company and Saatvik Green Energy. Based on the 3 November 2026 close, CESC traded at Rs 128.52, National Aluminium Company at Rs 317.55 and Saatvik Green Energy at Rs 357.75. Their return on equity ranges from 12.3% to 26.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 6.3% to 65.1%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_do_power_utility_aluminium_and_solar_module_stocks_have_a_strong_future_roadmap_in_India\"><\/span><strong>Why do power utility, aluminium and solar module stocks have a strong future roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Power utility, aluminium and solar module stocks have a strong roadmap in India because rising power demand, growing use of light metal and large solar capacity plans keep widening the market for these energy and metal companies. The main drivers are as follows. Power utility. City electricity demand keeps rising. Aluminium. Power lines and vehicles use light metal. Solar modules. Rooftop and utility projects add demand. 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_CESC_performed_financially\"><\/span><strong>How has CESC performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 12,827 crore in FY22 to Rs 18,927 crore in FY26, a compound annual growth rate of 10.2%. Net profit grew from Rs 1,447 crore in FY24 to Rs 1,618 crore in FY26, which works out to a compound annual growth rate of 5.7%. In the June 2026 quarter, revenue grew 5.2% year on year to Rs 5,559 crore, while net profit rose 3.7% to Rs 419 crore. The company has a return on equity of 12.3%, a debt to equity ratio of 1.73 and a market capitalisation of Rs 17,716 crore. The stock trades at a P\/E of 10.9, below the industry P\/E of 21.8. Looking ahead, the company is expanding its renewable portfolio and distribution reach, using a stable city distribution franchise as the base. It also holds retail and other businesses that add diversification.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_National_Aluminium_Company_performed_financially\"><\/span><strong>How has National Aluminium Company performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 14,478 crore in FY22 to Rs 18,509 crore in FY26, a compound annual growth rate of 6.3%. Net profit grew from Rs 2,951 crore in FY22 to Rs 5,797 crore in FY26, which works out to a compound annual growth rate of 18.4%. In the June 2026 quarter, revenue grew 39.3% year on year to Rs 5,476 crore, while net profit rose 90.9% to Rs 2,003 crore. The company has a return on equity of 26.8%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 58,387 crore. The stock trades at a P\/E of 8.7, below the industry P\/E of 11.6. Looking ahead, the company is one of the lowest-cost integrated aluminium producers and plans to expand its mine, refinery and smelter capacity. A debt-free balance sheet and strong cash flows support these investments.<\/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=\"What_risks_should_investors_check_before_buying_power_utility_aluminium_and_solar_module_stocks\"><\/span><strong>What risks should investors check before buying power utility, aluminium and solar module stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Investors should check a few risks before buying power utility, aluminium and solar module stocks. Commodity prices. Selling prices follow global and domestic markets. 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_utility_aluminium_and_solar_module_stocks_investment_advice\"><\/span><strong>Is this list of power utility, aluminium and solar module 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 3 November 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 utility, aluminium and solar module stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Power utility, aluminium and solar module stocks are listed companies that generate and distribute electricity with a growing renewable platform, mine bauxite and produce alumina and aluminium, and make solar modules and cells for utility, commercial and rooftop projects. Their earnings depend on power demand, metal prices and solar installations. This list looks at three of them, CESC, National Aluminium Company and Saatvik Green Energy, using reported FY22 to FY26 financials and the 3 November 2026 closing prices.\"}},{\"@type\":\"Question\",\"name\":\"Which power utility, aluminium and solar module stocks are covered in this list?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"This list covers CESC, National Aluminium Company and Saatvik Green Energy. Based on the 3 November 2026 close, CESC traded at Rs 128.52, National Aluminium Company at Rs 317.55 and Saatvik Green Energy at Rs 357.75. Their return on equity ranges from 12.3% to 26.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 6.3% to 65.1%.\"}},{\"@type\":\"Question\",\"name\":\"Why do power utility, aluminium and solar module stocks have a strong future roadmap in India?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Power utility, aluminium and solar module stocks have a strong roadmap in India because rising power demand, growing use of light metal and large solar capacity plans keep widening the market for these energy and metal companies. The main drivers are as follows. Power utility. City electricity demand keeps rising. Aluminium. Power lines and vehicles use light metal. Solar modules. Rooftop and utility projects add demand. Together these factors give the companies on this list a visible path for growth over the coming years.\"}},{\"@type\":\"Question\",\"name\":\"How has CESC performed financially?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Revenue rose from Rs 12,827 crore in FY22 to Rs 18,927 crore in FY26, a compound annual growth rate of 10.2%. Net profit grew from Rs 1,447 crore in FY24 to Rs 1,618 crore in FY26, which works out to a compound annual growth rate of 5.7%. In the June 2026 quarter, revenue grew 5.2% year on year to Rs 5,559 crore, while net profit rose 3.7% to Rs 419 crore. The company has a return on equity of 12.3%, a debt to equity ratio of 1.73 and a market capitalisation of Rs 17,716 crore. The stock trades at a P\/E of 10.9, below the industry P\/E of 21.8. Looking ahead, the company is expanding its renewable portfolio and distribution reach, using a stable city distribution franchise as the base. It also holds retail and other businesses that add diversification.\"}},{\"@type\":\"Question\",\"name\":\"How has National Aluminium Company performed financially?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Revenue rose from Rs 14,478 crore in FY22 to Rs 18,509 crore in FY26, a compound annual growth rate of 6.3%. Net profit grew from Rs 2,951 crore in FY22 to Rs 5,797 crore in FY26, which works out to a compound annual growth rate of 18.4%. In the June 2026 quarter, revenue grew 39.3% year on year to Rs 5,476 crore, while net profit rose 90.9% to Rs 2,003 crore. The company has a return on equity of 26.8%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 58,387 crore. The stock trades at a P\/E of 8.7, below the industry P\/E of 11.6. Looking ahead, the company is one of the lowest-cost integrated aluminium producers and plans to expand its mine, refinery and smelter capacity. A debt-free balance sheet and strong cash flows support these investments.\"}},{\"@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\":\"What risks should investors check before buying power utility, aluminium and solar module stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Investors should check a few risks before buying power utility, aluminium and solar module stocks. Commodity prices. Selling prices follow global and domestic markets. 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 3 November 2026.<\/p>\n","protected":false},"author":28,"featured_media":338870,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[19792,19795,3803,8318,19794,9951,13455,17204,19793],"class_list":["post-338871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-aluminium-and-solar-module-stocks","tag-bauxite-and-solar-cell-stocks","tag-best-stocks","tag-cesc","tag-electricity","tag-national-aluminium-company","tag-power-utility","tag-saatvik-green-energy","tag-utility-and-aluminium-shares"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["338870"],"rank_math_title":["Power Utility, Aluminium and Solar Stocks"],"rank_math_description":["Compare 3 power utility, aluminium and solar module stocks with a strong future roadmap on CMP, market cap, P\/E, ROE and revenue growth. 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