Company lists
The India edition · 2026

Utilitiescompanies in India

Electricity, power transmission, government utilities, water & waste, power equipment & storage and more: the companies building utilities in India, with their founders, funding, team size and business models.

108 company profiles46 with reported revenue1 with recorded fundingOctober 2026 edition
India · Photo: Wikimedia Commons (CC BY-SA 4.0)

Recent utilities business events in India

Funding, M&A, contract wins and launches involving 125 utilities companies in India, last 24 months: 162 Contracts · 50 M&A deals · 12 funding rounds · 2 launches. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: May 2026.

M&AAcquisition · Completed

Power grid corporation of india acquires TUMKUR II RE Transmission Limited

Power Finance Corporation Limited completed the transfer of its wholly owned subsidiary, TUMKUR II RE Transmission Limited, to Power Grid Corporation of India Limited on May 29, 2026,…

Transmission
M&AAcquisition · Announced

Adani power acquires Jaiprakash power ventures

Adani Power Ltd has also expanded its energy portfolio by acquiring JAL's power assets. This includes a 24% stake in Jaiprakash Power Ventures Ltd (JPVL) and a 180 MW thermal power plant…

Power
M&AAcquisition · Announced

Adani power acquires JP Power (Jay Prakash Power Ventures Limited)

Adani Power has announced on Thursday that it has made definitive agreements with Jay Prakash Associates Limited (JP Associates). The agreement is to acquire a 24 per cent stake in JP…

Power
M&AMerger · Announced

Power grid corporation of india acquires 28 wholly owned subsidiaries

The board of Power Grid Corporation of India Ltd has approved a revised plan to consolidate its subsidiary structure, paving the way for the merger of 28 wholly owned subsidiaries into…

Power
ContractSupply

Andritz · client: Torrent Power

ANDRITZ has secured an order from Torrent Power for 3,000 MW Saidongar pumped storage project (PSP).

Energy
ContractSupply

Andritz · client: Tata power

The company recently secured a contract from Tata Power for the 1000MW Bhivpuri pumped storage project in India, a flagship scheme aimed at supporting large-scale renewable integration.

Pumped storage
LaunchDatabricks platform

Tata power

Tata Power has announced the enterprise-wide adoption of the Databricks platform to enhance its data and AI transformation across all business clusters, focusing on operational…

Data and AI platform
ContractSupply

Diamond Power Infrastructure · client: Adani power

This Rs 43.26 crore contract involves supplying distinct sizes of power and control cables for the Raipur Ph-II Thermal Power Projects in Chhattisgarh, with a completion deadline set for…

ContractSupply

Tata power · client: Gujarat Urja Vikas Nigam Limited (GUVNL)

According to a stock exchange filing on Tuesday, Tata Power revealed that it has officially executed a supplementary PPA for its Tata Power Mundra Plant with Gujarat Urja Vikas Nigam…

Energy
ContractInfrastructure

Bajel Projects · client: Tata power

Tata Power Company awarded a significant EPC order for transmission line works to Bajel Projects. It involves construction of 220 kV Transmission Line on Monopoles. The order is worth Rs…

Power Transmission
ContractService

Railtel corporation of india · client: Power grid corporation of india

RailTel Corporation of India Limited announced that it has received a Letter of Intent from Power Grid Corporation of India Limited for a services-related contract.

Infrastructure & Technology Services
FundingNon-Convertible Debentures (NCDs)

Torrent power limited

Torrent Power Limited announced on March 9, 2026, that it has successfully issued and allotted Non-Convertible Debentures (NCDs) worth ₹2,000 crore.

Energy
ContractSupply

Ultra Gas & Energy · client: Beralia Roadlines Pvt Ltd (Jet Roadways)

Mumbai : Beralia Roadlines Pvt Ltd (Jet Roadways) today announced the signing of a long-term LNG supply agreement with Ultra Gas & Energy Limited (UGEL), as it continues to expand its…

Freight
ContractSupply

Kirloskar brothers · client: Adani power

Kirloskar Brothers Limited (KBL) has secured a significant domestic contract worth ₹214 Crores from Adani Power Limited and its subsidiaries for the supply of advanced pump packages for…

Power
M&AAcquisition · Announced

Torrent Power acquires Nabha Power

In a statement, Torrent Power Ltd (Torrent) said it 'has entered into a definitive agreement with L&TPDL to acquire 100 per cent of equity stake and convertible instruments in NPL for an…

Power sector
ContractSupply

Intra-State Captive Generating Stations (CGPs) · client: Gridco limited

GRIDCO Limited has issued Corrigendum-2 for its ongoing tender for short-term power procurement from Intra-State Captive Generating Stations (CGPs) for the period April 2026 to July 2026.

Energy
ContractInfrastructure

Rec power development and consultancy · client: Power grid corporation of india

RECPDCL and PowerGrid officials at the handing over ceremony

Transmission Line
ContractInfrastructure

Bgr energy systems · client: TANTRANSCO

Engineering and construction major BGR Energy Systems Ltd on Tuesday (February 3) said Tamil Nadu Transmission Corporation Ltd (TANTRANSCO) has terminated the EPC contract it had awarded…

Infrastructure
ContractSupply

Volks energie · client: Power grid corporation of india

Energy solutions and execution-focused infrastructure provider Volks Energie has completed a high-altitude, multi-location project for Power Grid Corporation of India Limited (PGCIL) at…

Energy Infrastructure
ContractSupply

JSW Thermal Energy Two Limited · client: Wbsedcl

JSW Thermal Energy Two Limited, a subsidiary of JSW Energy Ltd, has signed a power purchase agreement (PPA) with West Bengal State Electricity Distribution Company Limited (WBSEDCL) for…

Power Generation
ContractService

GEVTD · client: Power grid

Earlier, GEVTD also received an order from Power Grid Corporation (PGCIL) for refurbishment of 2x500 Mw HVDC Chandrapur line, which involved design, supply and refurbishment of line…

Transmission & Distribution
ContractMaintenance

GE Vernova T&D India · client: Power grid corporation of india

Earlier, the company secured another order from Power Grid Corporation of India (PGCIL) for the refurbishment of 2x 500 MW HVDC Chandrapur back-to-back link between Northern & Southern…

Energy
ContractInfrastructure

Rec power development and consultancy · client: Tata power

Tata Power has received a Letter of Intent (LOI) from REC Power Development and Consultancy Limited for acquiring a special purpose vehicle called Jejuri Hinjewadi Power Transmission…

Power Transmission
ContractSupply

JERA Co., Inc. · client: Torrent Power

Under this agreement, JERA will supply up to 0.27 MMTPA of LNG to Torrent Power for ten years, beginning in 2027.

Energy
ContractSupply

Jera · client: Torrent Power

Japan's top power generator JERA has signed its first long-term liquefied natural gas export deal with India's Torrent Power to deliver 4 LNG cargoes annually for 10 years from 2027.

Energy
ContractService

Transformers and Rectifiers (India) Limited (TARIL) · client: Power grid corporation of india

Transformers and Rectifiers (India) Limited (TARIL) has informed that it has received an order valued at ₹53.33 crore from Power Grid Corporation of India Limited.

Energy Infrastructure
ContractSupply

Transformers & Rectifiers (India) · client: Power grid corporation of india

Transformers & Rectifiers (India) Ltd. has taken a major step forward by winning a prestigious project from Power Grid Corporation of India. The order involves repair, erection, testing,…

Power & Energy
ContractInfrastructure

Kpi green energy · client: Gujarat State Electricity Corporation Ltd.

KPI Green Energy has bagged a major contract from Gujarat State Electricity Corporation Ltd. (GSECL) to build a 142 MW (DC) / 110 MW (AC) floating solar project at the Kadana Dam reservoir.

Renewable Energy
ContractSupply

Advait energy · client: Power grid corporation of india

The company received one domestic order worth Rs. 21.3 crore, from Power Grid Corporation of India Ltd. (PGCIL) for Package ERS-1 involving the procurement of Emergency Restoration…

Power Transmission
ContractService

Advait energy · client: Dgvcl

Operational performance in Q2 FY26, the company secured a Rs. 90 crore ERS order from PGCIL and Rs. 100 crore EPC order from DGVCL.

EPC

Utilities companies in India, by revenue

Browse utilities companies in India by reported revenue, one-year revenue growth, revenue model, age and stage. The 46 companies below are the largest by their most recent reported revenue among 46 utilities companies in India that have filed a figure in the last four years. Every figure keeps its own reporting period, so compare periods before comparing amounts.

Showing 25 of 46

Diversified conglomerate operating across multiple industries

Non- renewable power generation
₹138,175.12 crFY 2022-23
Not reported
22,177+7% 12 mo to Jun 2024LinkedIn · Oct 2026
38 yr1988
0none in 3 months

Provider of electricity generation, transmission, and distribution services

Utilities
₹63,272.32 crFY 2023-24
Not reported
13,954-0% 12 mo to Mar 2024LinkedIn · Oct 2026
107 yr1919
3postings · last posted Sep 2026

Thermal power production company

Global 2000
₹60,281.48 crFY 2023-24
Not reported
7,667-1% 12 mo to Jul 2024LinkedIn · Oct 2026
20 yr2006
17postings · last posted Sep 2026

Provider of electricity transmission services

Utilities
₹46,913.12 crFY 2023-24
Not reported
6,731-5% 12 mo to Nov 2023LinkedIn · Oct 2026
37 yr1989
0none in 3 months

Government entity focused on distribution of electricity

Government entities
₹38,745.33 crFY 2024-25
+16%2024–2025
7,500recorded
19 yr2007
0none in 3 months

Supplier of electricity

Utilities
₹20,587.88 crFY 2021-22
Not reported
450-1% 12 mo to Mar 2024recorded Mar 2024
23 yr2003
0none in 3 months

Power utility company responsible for the transmission, distribution, and supply of electricity, providing services to residential, commercial, and industrial consumers

Utilities
₹22,682.80 crFY 2024-25
+4%2024–2025
3,010LinkedIn · Jul 2026
15 yr2011
0none in 3 months

Power utility company

Utilities
₹17,066.25 crFY 2021-22
Not reported
2,005-2% 12 mo to Sep 2024recorded Sep 2024
23 yr2003
—No postings tracked

Distributor of electricity

Utilities
₹10,165.41 crFY 2021-22
Not reported
—Not available
31 yr1995
—No postings tracked

Provider of electricity distribution services

Utilities
₹7,647.89 crFY 2021-22
Not reported
1,001recorded
24 yr2002
—No postings tracked

Supplier of electricity

Utilities
₹4,863.80 crFY 2021-22
Not reported
96LinkedIn · Jul 2026
21 yr2005
0none in 3 months

Provider of electricity distribution services

Utilities
₹4,289.62 crFY 2024-25
+10%2024–2025
2,500recorded
5 yr2021
0none in 3 months

Infrastructure company providing thermal coal to power plants, industrial units, and public sector

Utilities
₹1,388.03 crFY 2024-25
-1%2024–2025
—Not available
12 yr2014
0none in 3 months

Integrated value-driven energy enterprise developing natural gas distribution projects

Utilities
₹1,090.76 crFY 2024-25
+11%2024–2025
298+18% 12 mo to Jan 2024LinkedIn · Oct 2026
10 yr2016
1postings · last posted Aug 2026

Provider of oil, and gas services

Utilities
₹924.68 crFY 2021-22
Not reported
186-14% 12 mo to Jun 2024LinkedIn · Jul 2026
29 yr1997
0none in 3 months

Power distribution company

Utilities
₹801.82 crFY 2021-22
Not reported
160+15% 12 mo to Feb 2024recorded Feb 2024
3 yr2023
0none in 3 months

Company that provides electricity supply services

Utilities
₹478.61 crFY 2021-22
Not reported
66+3% 12 mo to Jan 2024recorded Jan 2024
18 yr2008
—No postings tracked

Company that offers electricity supply services to consumers

Utilities
₹520.89 crFY 2024-25
+15%2024–2025
107+32% 12 mo to Feb 2024recorded Feb 2024
9 yr2017
0none in 3 months

Leading natural gas distributor in gas distribution sector

Utilities
₹258.81 crFY 2022-23
Not reported
501+6% 12 mo to May 2024LinkedIn · Jul 2026
8 yr2018
0none in 3 months

Manufacturer and supplier of coke

Utilities
₹233.38 crFY 2024-25
+36%2024–2025
4LinkedIn · Jul 2026
16 yr2010
0none in 3 months

Provider of advisory and support services for electricity supply solutions

Utilities
₹178.16 crFY 2024-25
+47%2024–2025
—Not available
5 yr2021
0none in 3 months

Manufacturer and exporter of coconut based steam activated carbon products

Utilities
₹170.75 crFY 2024-25
+70%2024–2025
—Not available
5 yr2021
0none in 3 months

Provider of power distribution services

Utilities
₹147.43 crFY 2021-22
Not reported
46+0% 12 mo to Sep 2024recorded Sep 2024
25 yr2001
—No postings tracked

Natural gas sales and liquid hydrocarbon exports

Utilities
₹113.24 crFY 2021-22
Not reported
—Not available
32 yr1994
1postings · last posted Aug 2026

Provider of piped natural gas and compressed natural gas services

Utilities
₹116.52 crFY 2024-25
+4%2024–2025
14LinkedIn · Jul 2026
10 yr2016
0none in 3 months
46 of 108 companies shown here · the full list is on Radar
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Explore all 108 utilities companies in India on Radar

This page shows the top 46. Radar has the complete, filterable list with contacts and live company signals.

Open utilities in India on Radar
  • Every company, not just 50All 108 utilities companies in India, filterable by stage, funding, team size, revenue model and age.
  • Founders and decision-makersLeadership teams with roles and verified LinkedIn profiles, ready for outreach.
  • Live signalsFunding rounds, hiring, launches and M&A as they happen, with alerts on the companies you follow.
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Explore utilities companies in India by what you are looking for

Find utilities companies in India, from electricity generation and distribution to transmission operators, water treatment and power equipment makers. Browse top utilities companies in India, listed utilities and utility startups.

9 ways to explore utilities in India

Electricity generation & distribution companiesElectricity transmission companies & grid operatorsGovernment electricity boards & regulatory bodiesWater, wastewater & waste management companiesPower equipment, battery & energy storage makersGas, LPG & fuel distribution companies

Electricity generation & distribution companies

Power producers and electricity suppliers serving homes and industry across India.

  1. Adani Group

    Diversified conglomerate operating across multiple industries

    Non- renewable power generation
    See in list
  2. Tata Power

    Provider of electricity generation, transmission, and distribution services

    Utilities
    See in list
  3. Power Grid

    Provider of electricity transmission services

    Utilities
    See in list
  4. WBSEDCL

    Government entity focused on distribution of electricity

    Government entities
    See in list
  5. PGVCL

    Supplier of electricity

    Utilities
    See in list

Electricity transmission companies & grid operators

Transmission system operators and companies that build and maintain high-voltage power networks.

  1. Adani Group

    Diversified conglomerate operating across multiple industries

    Non- renewable power generation
    See in list
  2. Power Grid

    Provider of electricity transmission services

    Utilities
    See in list
  3. Maharashtra State Electricity Transmission

    Supplier of electricity

    Utilities
    See in list
  4. AP Transco

    Provider of electrical power transmission company for planning, constructing, and maintaining the transmission network

    Utilities
    Website
  5. Udyat

    Provider of infrastructure solutions for power, water, energy, and real estate

    Waste & water management
    Website
9 companies in India

Government electricity boards & regulatory bodies

State electricity boards, public utility entities and energy regulatory bodies.

  1. WBSEDCL

    Government entity focused on distribution of electricity

    Government entities
    See in list
  2. TANGEDCO

    Utility company providing electricity services and related billing management

    Utilities
    Website
  3. PGVCL

    Supplier of electricity

    Utilities
    See in list

Water, wastewater & waste management companies

Companies providing water treatment, recycling and municipal and industrial waste services.

  1. Genex Utility

    Company that specializes in water treatment using ultrafiltration membranes technology and biological processes

    Utilities
    See in list
  2. Udyat

    Provider of infrastructure solutions for power, water, energy, and real estate

    Waste & water management
    Website
  3. Ecogreen Technologicals

    A company specializing in exporting activated carbon for various applications, including gold recovery, water treatment, and air and water purification

    Waste & water management
    Website
  4. Kynrem Technology

    Manufacturer of high grade water filter media, including manganese dioxide and activated carbon products

    Utilities
    Website
4 companies in India

Power equipment, battery & energy storage makers

Manufacturers of UPS systems, batteries, capacitors and other electrical equipment for utilities.

  1. Laxmi Solar Power Systems

    Provider of solar power systems and products for residential and commercial use

    Utilities
    See in list
  2. SUDHAN Electromech

    Manufacturer of LT & HT capacitors, harmonic filters, and APFC panels

    Utilities
    See in list
  3. Indo Powersys

    Manufacturer of online UPS & Smf battery by indo powersys

    Energy storage
    See in list
  4. Unique Power Solution

    Manufacturer of UPS, voltage stabilizer, and transformers

    Energy storage
    See in list
  5. Punsumi

    Producers & suppliers of surge protective devices and large can aluminum electrolytic capacitors

    Electronic components
    Website

Gas, LPG & fuel distribution companies

Companies distributing natural gas, LPG and other fuels.

  1. AG&P Pratham

    Leading natural gas distributor in gas distribution sector

    Utilities
    See in list
  2. Ultra Gas & Energy

    Provider of clean fuel solutions, including LNG and biofuels, for industries, heavy-duty vehicles, SMEs, hotels, and restaurants

    Utilities
    Website
  3. IRM Energy

    Integrated value-driven energy enterprise developing natural gas distribution projects

    Utilities
    See in list
  4. Carbure Activated Carbon

    Manufacturer and exporter of coconut based steam activated carbon products

    Utilities
    See in list
  5. Novatek

    Natural gas sales and liquid hydrocarbon exports

    Utilities
    See in list
7 companies in India

Listed utilities companies in India

Publicly listed utilities companies in India.

  1. Adani Group

    Diversified conglomerate operating across multiple industries

    Non- renewable power generation
    See in list
  2. Tata Power

    Provider of electricity generation, transmission, and distribution services

    Utilities
    See in list
  3. Power Grid

    Provider of electricity transmission services

    Utilities
    See in list
  4. IRM Energy

    Integrated value-driven energy enterprise developing natural gas distribution projects

    Utilities
    See in list
  5. Kay Cee Energy

    Provider of power transmission services

    Utilities
    Website
5 companies in India

Utilities startups in India

Recently founded utilities companies in India.

  1. TP Northern Odisha Distribution

    Provider of electricity distribution services

    Utilities
    See in list
  2. CESC RAJASTHAN

    Power distribution company

    Utilities
    See in list
  3. Shubheksha

    Provider of advisory and support services for electricity supply solutions

    Utilities
    See in list
  4. Carbure Activated Carbon

    Manufacturer and exporter of coconut based steam activated carbon products

    Utilities
    See in list
  5. AETERNA Clean Energy

    Provider of energy transition solutions

    Utilities
    Website
14 companies in India

Utilities companies hiring in India

Utilities companies in India with open roles.

  1. Tata Power

    Provider of electricity generation, transmission, and distribution services

    Utilities
    See in list
  2. Adani Power

    Thermal power production company

    Global 2000
    See in list
  3. IRM Energy

    Integrated value-driven energy enterprise developing natural gas distribution projects

    Utilities
    See in list
  4. Novatek

    Natural gas sales and liquid hydrocarbon exports

    Utilities
    See in list
  5. Switchgear and Control Technics

    Supplier of electricity

    Utilities
    See in list
8 companies in India
Mobile reach

Top 10 utilities apps from India

The most-installed Android apps published by utilities companies headquartered in India — 22.5M installs between them. 17 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
2

TNEB Mobile App(Official)

by TANGEDCO

Installs4.7M
Rating3.2918K ratings
Installs, year on year+21%
Last updatedJul 2025
View on Google Play ↗
TNEB Mobile App(Official) screenshot 1TNEB Mobile App(Official) screenshot 2TNEB Mobile App(Official) screenshot 3TNEB Mobile App(Official) screenshot 4TNEB Mobile App(Official) screenshot 5TNEB Mobile App(Official) screenshot 6
3

Vidyut Sahayogi

by WBSEDCL

Installs3.8M
Rating3.7455K ratings
Last updatedApr 2026
View on Google Play ↗
Vidyut Sahayogi screenshot 1Vidyut Sahayogi screenshot 2Vidyut Sahayogi screenshot 3Vidyut Sahayogi screenshot 4Vidyut Sahayogi screenshot 5Vidyut Sahayogi screenshot 6
4

TGSPDCL Citizen App

by TGSPDCL

Installs2.9M
Rating4.125K ratings
Installs, year on year+14%
Last updatedApr 2026
View on Google Play ↗
TGSPDCL Citizen App screenshot 1TGSPDCL Citizen App screenshot 2TGSPDCL Citizen App screenshot 3TGSPDCL Citizen App screenshot 4TGSPDCL Citizen App screenshot 5TGSPDCL Citizen App screenshot 6
5

My Tata Power- Consumer App

by Tata Power

Installs2.0M
Rating3.7523K ratings
Last updatedOct 2025
View on Google Play ↗
My Tata Power- Consumer App screenshot 1My Tata Power- Consumer App screenshot 2My Tata Power- Consumer App screenshot 3My Tata Power- Consumer App screenshot 4My Tata Power- Consumer App screenshot 5My Tata Power- Consumer App screenshot 6
6

KSEB

by KSEB

Installs1.5M
Rating3.536K ratings
Last updatedDec 2025
View on Google Play ↗
KSEB screenshot 1KSEB screenshot 2KSEB screenshot 3KSEB screenshot 4KSEB screenshot 5KSEB screenshot 6
8

DGVCL Smart Meter

by DGVCL

Installs304K
Rating4.012K ratings
Last updatedMay 2026
View on Google Play ↗
DGVCL Smart Meter screenshot 1DGVCL Smart Meter screenshot 2DGVCL Smart Meter screenshot 3DGVCL Smart Meter screenshot 4DGVCL Smart Meter screenshot 5DGVCL Smart Meter screenshot 6
The business behind the activity

Utilities financials in India

Revenue, profit and growth from the filed annual accounts of 36 utilities companies in India for FY24-25 — 41 of the 108 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 94% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹174,238.60 cr

36 companies filing accounts

combined net profit₹28,889.70 cr

16.6% aggregate margin

are profitable97%

35 of 36 companies

median revenue~₹101.4 cr

the typical company

median revenue growth+16%

into FY24-25

earned by the top five94%

revenue concentration

Six-year view

Combined revenue of filing companies

₹39,233.84 crFY19-2034 filers
₹51,884.61 crFY20-2137 filers
₹92,405.37 crFY21-2236 filers
₹157,998.67 crFY22-2338 filers
₹186,745.83 crFY23-2440 filers
₹174,238.60 crFY24-2536 filers

The number of companies filing changes each year; the three-year cohort below compares like with like.

Like-for-like

The same 34 companies over three years

+16%
FY22-23₹149,976.73 cr₹23,507.33 cr net
FY23-24₹176,860.68 cr₹36,322.54 cr net
FY24-25₹174,143.71 cr₹28,854.83 cr net

Companies with accounts for all three years, so growth is not an artefact of who filed.

Scale and profit

Bigger companies are far more often profitable

Under ₹1 cr3100% profitable
₹1–10 cr3100% profitable
₹10–100 cr11100% profitable
₹100–1,000 cr1191% profitable
Over ₹1,000 cr8100% profitable

Companies by FY24-25 revenue. Bars show how many companies sit in each band.

Momentum

How fast revenue moved into FY24-25

Shrinking9
0–20%10
20–50%9
50–100%5
Doubled+3

36 companies with accounts for both years; median growth +16%.

Profitability

Profit is concentrated at the top

35profitable
1loss-making
16.6%aggregate margin
3.6%median margin

The aggregate margin is pulled up by a few large filers; the median shows the typical company.

Growth leaders · ₹10 cr+ revenue

Fastest growing, FY24-25

CompanyGrowthRevenue
Laxmi Solar Power SystemsLAXMI SOLAR POWER SYSTEMS PRIVATE LIMITED
Kay Cee EnergyKAY CEE ENERGY & INFRA LIMITED₹153.17 cr
Tata PowerTATA POWER TRADING COMPANY LIMITED+79%₹463.83 cr
Carbure Activated CarbonCARBURE ACTIVATED CARBON PRIVATE LIMITED+70%₹170.75 cr
Indus High Power ConsultancyIHPC POWER SOLUTIONS PRIVATE LIMITED
ShubhekshaSHUBHEKSHA ADVISORS PRIVATE LIMITED+47%₹178.16 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
DNH and DD PowerDNH AND DD POWER CORPORATION LIMITED
Power GridPOWER GRID CORPORATION OF INDIA LIMITED33.1%₹46,325.32 cr
Adani PowerADANI POWER LIMITED22.0%₹52,571.11 cr
Tata PowerTATA POWER TRADING COMPANY LIMITED19.0%₹463.83 cr
Indus High Power ConsultancyIHPC POWER SOLUTIONS PRIVATE LIMITED
Kay Cee EnergyKAY CEE ENERGY & INFRA LIMITED₹153.17 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Utilities32₹121,656.15 cr~₹109.4 cr97%14.2%
Leaders

Largest utilities companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
Adani PowerADANI POWER LIMITED₹52,571.11 cr₹11,559.85 cr22.0%-7%
Power GridPOWER GRID CORPORATION OF INDIA LIMITED₹46,325.32 cr₹15,353.57 cr33.1%+1%
DGVCLDAKSHIN GUJARAT VIJ COMPANY LIMITED₹26,041.49 cr₹1,260.26 cr4.8%-0%
Jodhpur Vidyut Vitran NigamJODHPUR VIDYUT VITRAN NIGAM LIMITED₹24,658.38 cr₹92.29 cr0.4%-4%
GRIDCOGRIDCO LIMITED₹14,510.61 cr₹347.06 cr2.4%+4%
TP Northern Odisha DistributionTp Northern Odisha Distribution Limited₹4,289.62 cr₹157.60 cr3.7%+10%
Smartgen InfraSMARTGEN INFRA PRIVATE LIMITED₹1,388.03 cr₹30.02 cr2.2%-1%
IRM EnergyIrm Energy Limited₹1,090.76 cr₹47.05 cr4.3%+11%
Malegaon Power SupplyMALEGAON POWER SUPPLY LIMITED₹718.22 cr−₹148.92 cr-20.7%+7%
TPADLTP AJMER DISTRIBUTION LIMITED₹520.89 cr₹11.39 cr2.2%+15%
Some figures are available to Radar members.Log in to Radar to see every figure

Standalone annual accounts filed with the Ministry of Corporate Affairs. Brands that share one legal entity are shown together and counted once.

Industry landscape report

Accounting and Tax Software Industry Landscape of India

The financials above are one chapter. The full utilities landscape of India maps the whole industry — every segment, the capital behind it, the talent market and where the next opportunities are.

  • Market map of every sub-sector
  • Funding & company formation by year
  • Revenue, profit & financial strength
  • Digital footprint: traffic, apps, releases
  • Hiring, skills & pay
  • Founders & leaders
  • News & sentiment
  • Where demand runs ahead of supply
Read the utilities landscape of India
For investors and data teams

Put this intelligence into your own tools

The figures on this page come from Fliar’s company, funding and MCA filings data. Use it through the Investor Intelligence API and MCA financials feeds, or explore every company, filing and investor in Radar.

Capital & corporate activity

Utilities funding and M&A across India

1 recorded equity rounds have gone to 125 utilities companies in India — how much, at which stage, into which sub-sectors, from whom, and how India compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months0

US$0k

equity rounds, last 24 months0

US$0k

raised over five yearsUS$0k

0 rounds in India

M&A deals, India50

last 24 months

Capital by year

Equity funding into utilities in India

amount rounds

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date.

Corporate activity · last 24 months

M&A in India

43Acquisition
7Merger

Most active acquirers

  1. Power grid corporation of india17
  2. Adani power9
  3. Tata power7
  4. Torrent Power6
  5. Adani new industries5

Most acquired or merged

  1. TUMKUR II RE Transmission Limited1
  2. Jaiprakash power ventures1
  3. JP Power (Jay Prakash Power Ventures Limited)1
  4. 28 wholly owned subsidiaries1
  5. NES Pune East New Transmission Limited1

Each deal appears in the events strip at the top of the page.

Founders and momentum in India

Meet the people behind utilities companies in India. 46 of 108 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Keep exploring utilities in India and nearby markets.

Coming soon