{"id":344504,"date":"2026-11-12T10:28:33","date_gmt":"2026-11-12T04:58:33","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=344504"},"modified":"2026-11-12T10:28:33","modified_gmt":"2026-11-12T04:58:33","slug":"forgings-maker-electric-motors-maker-and-wind-turbines-maker-stocks-roadmap-vantage-list","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/forgings-maker-electric-motors-maker-and-wind-turbines-maker-stocks-roadmap-vantage-list\/","title":{"rendered":"3 Forgings Maker, Electric Motors Maker and Wind Turbines Maker Stocks With a Strong Future Roadmap: Happy Forgings, Kirloskar Electric Company and Suzlon Energy"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E84;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Happy Forgings, Kirloskar Electric Company and Suzlon Energy: ROE of 12.3% to 33.4% and FY22 to FY26 revenue CAGR of 7.3% to 26.4%. Prices as of 11 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 forging, electric motor and wind turbine stocks to watch are Happy Forgings, Kirloskar Electric Company and Suzlon Energy. Their return on equity ranges from 12.3% to 33.4%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.3% to 26.4%. Suzlon Energy leads on both return on equity at 33.4% and revenue growth at 26.4% a year. Prices are based on the 11 November 2026 close, and this article is educational, not investment advice.<\/p>\n<\/div>\n<p>Forging, electric motor and wind turbine stocks let investors follow companies that serve a growing part of the Indian economy. Happy Forgings, Kirloskar Electric Company and Suzlon Energy cover a forgings maker, an electric motors maker and a wind turbines maker.<\/p>\n<p>This list covers three forging, electric motor and wind turbine stocks with complete current figures: Happy Forgings, Kirloskar Electric Company and Suzlon Energy. Every figure comes from the latest reported financials and the 11 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=forgings-maker-electric-motors-maker-and-wind-turbines-maker-stocks-roadmap-vantage-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\/forgings-maker-electric-motors-maker-and-wind-turbines-maker-stocks-roadmap-vantage-list\/#What_Are_Forging_Electric_Motor_and_Wind_Turbine_Stocks\" title=\"What Are Forging, Electric Motor and Wind Turbine Stocks?\">What Are Forging, Electric Motor and Wind 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\/forgings-maker-electric-motors-maker-and-wind-turbines-maker-stocks-roadmap-vantage-list\/#Forging_Electric_Motor_and_Wind_Turbine_Stocks_at_a_Glance\" title=\"Forging, Electric Motor and Wind Turbine Stocks at a Glance\">Forging, Electric Motor and Wind 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\/forgings-maker-electric-motors-maker-and-wind-turbines-maker-stocks-roadmap-vantage-list\/#Why_Do_Forging_Electric_Motor_and_Wind_Turbine_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Forging, Electric Motor and Wind Turbine Stocks Have a Strong Roadmap in India?\">Why Do Forging, Electric Motor and Wind 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\/forgings-maker-electric-motors-maker-and-wind-turbines-maker-stocks-roadmap-vantage-list\/#Why_Happy_Forgings_Features_Among_These_Forging_Electric_Motor_and_Wind_Turbine_Stocks\" title=\"Why Happy Forgings Features Among These Forging, Electric Motor and Wind Turbine Stocks\">Why Happy Forgings Features Among These Forging, Electric Motor and Wind 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\/forgings-maker-electric-motors-maker-and-wind-turbines-maker-stocks-roadmap-vantage-list\/#Why_Kirloskar_Electric_Company_Features_Among_These_Forging_Electric_Motor_and_Wind_Turbine_Stocks\" title=\"Why Kirloskar Electric Company Features Among These Forging, Electric Motor and Wind Turbine Stocks\">Why Kirloskar Electric Company Features Among These Forging, Electric Motor and Wind 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\/forgings-maker-electric-motors-maker-and-wind-turbines-maker-stocks-roadmap-vantage-list\/#Why_Suzlon_Energy_Features_Among_These_Forging_Electric_Motor_and_Wind_Turbine_Stocks\" title=\"Why Suzlon Energy Features Among These Forging, Electric Motor and Wind Turbine Stocks\">Why Suzlon Energy Features Among These Forging, Electric Motor and Wind 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\/forgings-maker-electric-motors-maker-and-wind-turbines-maker-stocks-roadmap-vantage-list\/#Happy_Forgings_vs_Kirloskar_Electric_Company_vs_Suzlon_Energy_on_Key_Financials\" title=\"Happy Forgings vs Kirloskar Electric Company vs Suzlon Energy on Key Financials\">Happy Forgings vs Kirloskar Electric Company vs Suzlon 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\/forgings-maker-electric-motors-maker-and-wind-turbines-maker-stocks-roadmap-vantage-list\/#Key_Risks_to_Check_Before_Investing_in_Forging_Electric_Motor_and_Wind_Turbine_Stocks\" title=\"Key Risks to Check Before Investing in Forging, Electric Motor and Wind Turbine Stocks\">Key Risks to Check Before Investing in Forging, Electric Motor and Wind 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\/forgings-maker-electric-motors-maker-and-wind-turbines-maker-stocks-roadmap-vantage-list\/#Final_Thoughts_on_Forging_Electric_Motor_and_Wind_Turbine_Stocks\" title=\"Final Thoughts on Forging, Electric Motor and Wind Turbine Stocks\">Final Thoughts on Forging, Electric Motor and Wind 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\/forgings-maker-electric-motors-maker-and-wind-turbines-maker-stocks-roadmap-vantage-list\/#What_are_forging_electric_motor_and_wind_turbine_stocks\" title=\"What are forging, electric motor and wind turbine stocks?\">What are forging, electric motor and wind 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\/forgings-maker-electric-motors-maker-and-wind-turbines-maker-stocks-roadmap-vantage-list\/#Which_forging_electric_motor_and_wind_turbine_stocks_are_covered_in_this_list\" title=\"Which forging, electric motor and wind turbine stocks are covered in this list?\">Which forging, electric motor and wind 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\/forgings-maker-electric-motors-maker-and-wind-turbines-maker-stocks-roadmap-vantage-list\/#Why_do_forging_electric_motor_and_wind_turbine_stocks_have_a_strong_future_roadmap_in_India\" title=\"Why do forging, electric motor and wind turbine stocks have a strong future roadmap in India?\">Why do forging, electric motor and wind 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\/forgings-maker-electric-motors-maker-and-wind-turbines-maker-stocks-roadmap-vantage-list\/#How_has_Happy_Forgings_performed_financially\" title=\"How has Happy Forgings performed financially?\">How has Happy Forgings 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\/forgings-maker-electric-motors-maker-and-wind-turbines-maker-stocks-roadmap-vantage-list\/#How_has_Kirloskar_Electric_Company_performed_financially\" title=\"How has Kirloskar Electric Company performed financially?\">How has Kirloskar Electric 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\/forgings-maker-electric-motors-maker-and-wind-turbines-maker-stocks-roadmap-vantage-list\/#How_has_Suzlon_Energy_performed_financially\" title=\"How has Suzlon Energy performed financially?\">How has Suzlon 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\/forgings-maker-electric-motors-maker-and-wind-turbines-maker-stocks-roadmap-vantage-list\/#What_risks_should_investors_check_before_buying_forging_electric_motor_and_wind_turbine_stocks\" title=\"What risks should investors check before buying forging, electric motor and wind turbine stocks?\">What risks should investors check before buying forging, electric motor and wind 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\/forgings-maker-electric-motors-maker-and-wind-turbines-maker-stocks-roadmap-vantage-list\/#Is_this_list_of_forging_electric_motor_and_wind_turbine_stocks_investment_advice\" title=\"Is this list of forging, electric motor and wind turbine stocks investment advice?\">Is this list of forging, electric motor and wind turbine stocks investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Forging_Electric_Motor_and_Wind_Turbine_Stocks\"><\/span><strong>What Are Forging, Electric Motor and Wind Turbine Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Forging, electric motor and wind turbine stocks are listed companies that make forged and machined parts for trucks, farm machines and industry, produce electric motors, alternators and generators, and build wind turbines and offer wind farm services. Their earnings depend on vehicle and machine output, industrial investment and renewable capacity additions.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Forging_Electric_Motor_and_Wind_Turbine_Stocks_at_a_Glance\"><\/span><strong>Forging, Electric Motor and Wind 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\/happyforge\/happy-forgings-ltd-share-price-today\">Happy Forgings<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,809.6<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17,630<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">53.9<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">50.7<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">14.2<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.15<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/kecl\/kirloskar-electric-company-ltd-share-price-today\">Kirloskar Electric Company<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">111.95<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">811<\/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;\">12.3<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.76<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/suzlon\/suzlon-energy-ltd-share-price-today\">Suzlon Energy<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">38.88<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">55,008<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.5<\/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;\">33.4<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.06<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>On valuation, Suzlon Energy trades at a P\/E below the industry P\/E, while Happy Forgings and Kirloskar Electric Company trade above it, which reflects the growth the market already expects. Readers comparing forging, electric motor and wind 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_Forging_Electric_Motor_and_Wind_Turbine_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Forging, Electric Motor and Wind Turbine Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Forging, electric motor and wind turbine stocks have a strong roadmap in India because rising output of heavy vehicles, steady factory investment and rapid renewable capacity additions keep widening the market for these companies.<\/p>\n<ul>\n<li><strong>Forgings.<\/strong> Heavy vehicles need strong precise parts.<\/li>\n<li><strong>Electric motors.<\/strong> Industry and railways need reliable machines.<\/li>\n<li><strong>Wind power.<\/strong> Utilities add clean energy capacity.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Why_Happy_Forgings_Features_Among_These_Forging_Electric_Motor_and_Wind_Turbine_Stocks\"><\/span><strong>Why Happy Forgings Features Among These Forging, Electric Motor and Wind Turbine Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the forging, electric motor and wind turbine stocks on this list, Happy Forgings is a Ludhiana-based maker of forged and machined components for engines, transmissions and axles, selling to commercial vehicle, off-highway, farm and industrial customers.<\/p>\n<p>The company has a return on equity of 14.2%, a debt to equity ratio of 0.15 and a market capitalisation of Rs 17,630 crore. The stock trades at a P\/E of 53.9, above the industry P\/E of 50.7.<\/p>\n<p>Revenue rose from Rs 866 crore in FY22 to Rs 1,577 crore in FY26, a compound annual growth rate of 16.2%. Net profit grew from Rs 142 crore in FY22 to Rs 302 crore in FY26, which works out to a compound annual growth rate of 20.7%. In the June 2026 quarter, revenue grew 26.5% year on year to Rs 460 crore, while net profit rose 39.2% to Rs 91.5 crore.<\/p>\n<p><strong>Roadmap:<\/strong> The company is adding machining capacity and widening its range to serve passenger vehicles, railways and aerospace, which reduces reliance on a single segment. Its focus on precision components supports long-term relationships with global customers.<\/p>\n<p><strong>What to watch:<\/strong> Monitor the pace of new capacity and the shift towards higher-value, fully machined parts.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Kirloskar_Electric_Company_Features_Among_These_Forging_Electric_Motor_and_Wind_Turbine_Stocks\"><\/span><strong>Why Kirloskar Electric Company Features Among These Forging, Electric Motor and Wind Turbine Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the forged part, generator and renewable power shares on this list, Kirloskar Electric Company is a Bengaluru-based maker of electric motors, alternators, generators, transformers and related electrical equipment for industry, railways and power customers.<\/p>\n<p>Revenue rose from Rs 454 crore in FY22 to Rs 600 crore in FY26, a compound annual growth rate of 7.3%. Net profit grew from Rs 3.7 crore in FY25 to Rs 8.4 crore in FY26, a rise of 124.7%.<\/p>\n<p>The company has a return on equity of 12.3%, a debt to equity ratio of 0.76 and a market capitalisation of Rs 811 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 widening its range of motors and generators and growing its supply for industrial, railway and power projects. Long industry experience and a wide product range support its order book.<\/p>\n<p><strong>What to watch:<\/strong> Track order inflows, execution and demand from power and railway customers.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Suzlon_Energy_Features_Among_These_Forging_Electric_Motor_and_Wind_Turbine_Stocks\"><\/span><strong>Why Suzlon Energy Features Among These Forging, Electric Motor and Wind Turbine Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the three companies on this list, Suzlon Energy is a wind turbine maker with manufacturing and service operations across India, supplying turbines for utility, independent power producer and corporate customers and servicing a large installed base.<\/p>\n<p>In the June 2026 quarter, revenue grew 22.0% year on year to Rs 3,863 crore. Revenue rose from Rs 6,604 crore in FY22 to Rs 16,842 crore in FY26, a compound annual growth rate of 26.4%.<\/p>\n<p>Net profit grew from Rs 2,072 crore in FY25 to Rs 3,163 crore in FY26, a rise of 52.7%. The company has a return on equity of 33.4%, a debt to equity ratio of 0.06 and a market capitalisation of Rs 55,008 crore. The stock trades at a P\/E of 17.5, below the industry P\/E of 43.9.<\/p>\n<p><strong>Roadmap:<\/strong> The company has a large order book and a strong share of the domestic wind market as the country adds renewable capacity. Its operations and maintenance business generates recurring income from the installed fleet.<\/p>\n<p><strong>What to watch:<\/strong> Check order book conversion to revenue and the pace of turbine deliveries each quarter.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Happy_Forgings_vs_Kirloskar_Electric_Company_vs_Suzlon_Energy_on_Key_Financials\"><\/span><strong>Happy Forgings vs Kirloskar Electric Company vs Suzlon Energy on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table below sets the three forging, electric motor and wind 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;\">Happy Forgings<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">866<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,577<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">16.2%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">302<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">19.1%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Kirloskar Electric Company<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">454<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">600<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">7.3%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">8.4<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1.4%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Suzlon Energy<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">6,604<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">16,842<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">26.4%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3,163<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">18.8%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>Suzlon Energy posts the highest return on equity in this group at 33.4%. Suzlon Energy combines the largest FY26 revenue at Rs 16,842 crore with the fastest revenue growth, a 26.4% compound annual rate. A useful habit with forging, electric motor and wind 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_Forging_Electric_Motor_and_Wind_Turbine_Stocks\"><\/span><strong>Key Risks to Check Before Investing in Forging, Electric Motor and Wind 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 forging, electric motor and wind turbine stocks, the main points are: Long-term forged part, generator and renewable power 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>Production cycles.<\/strong> Vehicle output can vary with demand.<\/li>\n<li><strong>Component costs.<\/strong> Copper, chips and other inputs can move margins.<\/li>\n<li><strong>Module prices.<\/strong> Solar equipment prices and policy support can change returns.<\/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 forging, electric motor and wind 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_Forging_Electric_Motor_and_Wind_Turbine_Stocks\"><\/span><strong>Final Thoughts on Forging, Electric Motor and Wind Turbine Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Forging, electric motor and wind turbine stocks reward investors who follow demand trends, order books and margins together. Happy Forgings, Kirloskar Electric Company and Suzlon Energy each have a clear plan to grow. Based on the 11 November 2026 close, Happy Forgings trades at Rs 1,809.6, Kirloskar Electric Company at Rs 111.95 and Suzlon Energy at Rs 38.88.<\/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 forging, electric motor and wind 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_forging_electric_motor_and_wind_turbine_stocks\"><\/span><strong>What are forging, electric motor and wind turbine stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Forging, electric motor and wind turbine stocks are listed companies that make forged and machined parts for trucks, farm machines and industry, produce electric motors, alternators and generators, and build wind turbines and offer wind farm services. Their earnings depend on vehicle and machine output, industrial investment and renewable capacity additions. This list looks at three of them, Happy Forgings, Kirloskar Electric Company and Suzlon Energy, using reported FY22 to FY26 financials and the 11 November 2026 closing prices.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_forging_electric_motor_and_wind_turbine_stocks_are_covered_in_this_list\"><\/span><strong>Which forging, electric motor and wind turbine stocks are covered in this list?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> This list covers Happy Forgings, Kirloskar Electric Company and Suzlon Energy. Based on the 11 November 2026 close, Happy Forgings traded at Rs 1,809.6, Kirloskar Electric Company at Rs 111.95 and Suzlon Energy at Rs 38.88. Their return on equity ranges from 12.3% to 33.4%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.3% to 26.4%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_do_forging_electric_motor_and_wind_turbine_stocks_have_a_strong_future_roadmap_in_India\"><\/span><strong>Why do forging, electric motor and wind turbine stocks have a strong future roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Forging, electric motor and wind turbine stocks have a strong roadmap in India because rising output of heavy vehicles, steady factory investment and rapid renewable capacity additions keep widening the market for these companies. The main drivers are as follows. Forgings. Heavy vehicles need strong precise parts. Electric motors. Industry and railways need reliable machines. Wind power. Utilities add clean energy capacity. 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_Happy_Forgings_performed_financially\"><\/span><strong>How has Happy Forgings performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 866 crore in FY22 to Rs 1,577 crore in FY26, a compound annual growth rate of 16.2%. Net profit grew from Rs 142 crore in FY22 to Rs 302 crore in FY26, which works out to a compound annual growth rate of 20.7%. In the June 2026 quarter, revenue grew 26.5% year on year to Rs 460 crore, while net profit rose 39.2% to Rs 91.5 crore. The company has a return on equity of 14.2%, a debt to equity ratio of 0.15 and a market capitalisation of Rs 17,630 crore. The stock trades at a P\/E of 53.9, above the industry P\/E of 50.7. Looking ahead, the company is adding machining capacity and widening its range to serve passenger vehicles, railways and aerospace, which reduces reliance on a single segment. Its focus on precision components supports long-term relationships with global customers.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Kirloskar_Electric_Company_performed_financially\"><\/span><strong>How has Kirloskar Electric Company performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 454 crore in FY22 to Rs 600 crore in FY26, a compound annual growth rate of 7.3%. Net profit grew from Rs 3.7 crore in FY25 to Rs 8.4 crore in FY26, a rise of 124.7%. The company has a return on equity of 12.3%, a debt to equity ratio of 0.76 and a market capitalisation of Rs 811 crore. The stock trades at a P\/E of 108.5, above the industry P\/E of 43.9. Looking ahead, the company is widening its range of motors and generators and growing its supply for industrial, railway and power projects. Long industry experience and a wide product range support its order book.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Suzlon_Energy_performed_financially\"><\/span><strong>How has Suzlon Energy performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 6,604 crore in FY22 to Rs 16,842 crore in FY26, a compound annual growth rate of 26.4%. Net profit grew from Rs 2,072 crore in FY25 to Rs 3,163 crore in FY26, a rise of 52.7%. In the June 2026 quarter, revenue grew 22.0% year on year to Rs 3,863 crore. The company has a return on equity of 33.4%, a debt to equity ratio of 0.06 and a market capitalisation of Rs 55,008 crore. The stock trades at a P\/E of 17.5, below the industry P\/E of 43.9. Looking ahead, the company has a large order book and a strong share of the domestic wind market as the country adds renewable capacity. Its operations and maintenance business generates recurring income from the installed fleet.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_risks_should_investors_check_before_buying_forging_electric_motor_and_wind_turbine_stocks\"><\/span><strong>What risks should investors check before buying forging, electric motor and wind turbine stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Investors should check a few risks before buying forging, electric motor and wind turbine stocks. Production cycles. Vehicle output can vary with demand. Component costs. Copper, chips and other inputs can move margins. Module prices. Solar equipment prices and policy support can change returns. 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_forging_electric_motor_and_wind_turbine_stocks_investment_advice\"><\/span><strong>Is this list of forging, electric motor and wind 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 11 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 forging, electric motor and wind turbine stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Forging, electric motor and wind turbine stocks are listed companies that make forged and machined parts for trucks, farm machines and industry, produce electric motors, alternators and generators, and build wind turbines and offer wind farm services. Their earnings depend on vehicle and machine output, industrial investment and renewable capacity additions. This list looks at three of them, Happy Forgings, Kirloskar Electric Company and Suzlon Energy, using reported FY22 to FY26 financials and the 11 November 2026 closing prices.\"}},{\"@type\":\"Question\",\"name\":\"Which forging, electric motor and wind turbine stocks are covered in this list?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"This list covers Happy Forgings, Kirloskar Electric Company and Suzlon Energy. Based on the 11 November 2026 close, Happy Forgings traded at Rs 1,809.6, Kirloskar Electric Company at Rs 111.95 and Suzlon Energy at Rs 38.88. Their return on equity ranges from 12.3% to 33.4%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.3% to 26.4%.\"}},{\"@type\":\"Question\",\"name\":\"Why do forging, electric motor and wind turbine stocks have a strong future roadmap in India?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Forging, electric motor and wind turbine stocks have a strong roadmap in India because rising output of heavy vehicles, steady factory investment and rapid renewable capacity additions keep widening the market for these companies. The main drivers are as follows. Forgings. Heavy vehicles need strong precise parts. Electric motors. Industry and railways need reliable machines. Wind power. Utilities add clean energy capacity. Together these factors give the companies on this list a visible path for growth over the coming years.\"}},{\"@type\":\"Question\",\"name\":\"How has Happy Forgings performed financially?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Revenue rose from Rs 866 crore in FY22 to Rs 1,577 crore in FY26, a compound annual growth rate of 16.2%. Net profit grew from Rs 142 crore in FY22 to Rs 302 crore in FY26, which works out to a compound annual growth rate of 20.7%. In the June 2026 quarter, revenue grew 26.5% year on year to Rs 460 crore, while net profit rose 39.2% to Rs 91.5 crore. The company has a return on equity of 14.2%, a debt to equity ratio of 0.15 and a market capitalisation of Rs 17,630 crore. The stock trades at a P\/E of 53.9, above the industry P\/E of 50.7. Looking ahead, the company is adding machining capacity and widening its range to serve passenger vehicles, railways and aerospace, which reduces reliance on a single segment. Its focus on precision components supports long-term relationships with global customers.\"}},{\"@type\":\"Question\",\"name\":\"How has Kirloskar Electric Company performed financially?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Revenue rose from Rs 454 crore in FY22 to Rs 600 crore in FY26, a compound annual growth rate of 7.3%. Net profit grew from Rs 3.7 crore in FY25 to Rs 8.4 crore in FY26, a rise of 124.7%. The company has a return on equity of 12.3%, a debt to equity ratio of 0.76 and a market capitalisation of Rs 811 crore. The stock trades at a P\/E of 108.5, above the industry P\/E of 43.9. Looking ahead, the company is widening its range of motors and generators and growing its supply for industrial, railway and power projects. Long industry experience and a wide product range support its order book.\"}},{\"@type\":\"Question\",\"name\":\"How has Suzlon Energy performed financially?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Revenue rose from Rs 6,604 crore in FY22 to Rs 16,842 crore in FY26, a compound annual growth rate of 26.4%. Net profit grew from Rs 2,072 crore in FY25 to Rs 3,163 crore in FY26, a rise of 52.7%. In the June 2026 quarter, revenue grew 22.0% year on year to Rs 3,863 crore. The company has a return on equity of 33.4%, a debt to equity ratio of 0.06 and a market capitalisation of Rs 55,008 crore. The stock trades at a P\/E of 17.5, below the industry P\/E of 43.9. Looking ahead, the company has a large order book and a strong share of the domestic wind market as the country adds renewable capacity. Its operations and maintenance business generates recurring income from the installed fleet.\"}},{\"@type\":\"Question\",\"name\":\"What risks should investors check before buying forging, electric motor and wind turbine stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Investors should check a few risks before buying forging, electric motor and wind turbine stocks. Production cycles. Vehicle output can vary with demand. Component costs. Copper, chips and other inputs can move margins. Module prices. Solar equipment prices and policy support can change returns. 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 forging, electric motor and wind turbine stocks investment advice?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No. This article is educational and uses publicly available data as of the 11 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.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Forging, Electric Motor and Wind Turbine Stocks with a strong future roadmap: Happy Forgings, Kirloskar Electric Company and Suzlon Energy. Compare price, valuation, return on equity and revenue growth as of 11 November 2026.<\/p>\n","protected":false},"author":29,"featured_media":344503,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[3803,22504,22502,20959,15309,22503,9221,17874,22505,2534],"class_list":["post-344504","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-best-stocks","tag-crankshaft-maker","tag-electric-motor-and-wind-turbine-stocks","tag-forged-part","tag-forging","tag-generator-and-renewable-power-shares","tag-happy-forgings","tag-kirloskar-electric-company","tag-motor-maker-and-turbine-maker-stocks","tag-suzlon-energy"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["344503"],"rank_math_title":["Forging, Electric Motor and Wind Turbine Stocks"],"rank_math_description":["Compare 3 forging, electric motor and wind turbine stocks with a strong future roadmap on CMP, market cap, P\/E, ROE and revenue growth. 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