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15 Best Electrical Companies in India (2023)
Here is the list of the top 15 best electrical companies in India based on the Revenue in the present year. But before we dive further, let’s take a quick snap at the electrical industry.
The Electrical industry is one of the fastest-growing industries right from its origin. The Indian electrical Industry can broadly be categorized into the Electrical Equipment sector and the Electricity sector for power generation. India is one of the largest economies in the world and has a good GDP among emerging economies
The global consumer electronics market size was USD 729.11 billion in 2019. The market is projected to grow from USD 689.45 billion in 2020 to USD 989.37 billion in 2027. India remains in one of the key positions in the global electrical market.
The earnings for electrical companies in India have grown 9.1% per year over the last three years. Revenues for these companies have grown 5.5% per year. This means that more sales are being generated by these companies overall, and subsequently, their profits are increasing too.
Indian Electrical Equipment industry contributes 8.1% of the manufacturing sector in terms of value and 1.35% of India’s GDP, providing direct employment to 5 lakh persons and indirect employment to over 50 lakhs across the entire value chain. This sector consists of generation, transmission, and distribution (T&D) equipment.
Power distribution and transmission equipment like transformers, conductors, meters, cables, and switchgear registered good growth as the government is enhancing transmission capacity and pushing states to improve distribution networks. Exports and Imports of Electrical Equipment have been growing steadily. At the end of FY18, exports stood at INR 41,792 crore (~5.2 bn euros), while Imports reached INR 55,603 crore (~6.9 bn euros).
List of Top Electrical Companies in India
Here is the list of top electrical companies in India ranked based on annual revenue, range of products, customer base, operating income, net assets, and equity values.
1. Bharat Heavy Electricals Limited (BHEL)
BHEL is one of the largest and top electrical companies in India in the energy and infrastructure sector. Established in 1964, the company is a leading power equipment manufacturer globally and one of the earliest and leading contributors to building an Aatmanirbhar Bharat. With a comprehensive portfolio of products, systems, and services in the areas of power-thermal, hydro, gas, nuclear & solar PV; transmission; transportation; defense & aerospace; oil & gas and new areas like BESS and EV chargers.
The company’s pan-India presence includes a network of 16 manufacturing facilities, 2 repair units, 4 regional offices, 8 service centers, 3 active joint ventures, 15 regional marketing centers, 3 overseas offices, and current project execution at
more than 150 project sites across India and abroad.
The worldwide installed base of power-generating equipment supplied by BHEL exceeds 194 GW. Having installed more than 1000 thermal, hydro, nuclear, gas, and solar PV-based power generating sets in the country, this electrical company is actively engaged in building strong foundations for cleaner and greener energy generation and usage in the future with critical technologies from coal to methanol.
- Revenue: INR 20,153 Crores (21-22)
- Market Capitalization: INR 26,971 Crores
- Total Liabilities: INR 21,371.15 Crores
- Total Assets: INR 56,708.32 Crores
- Dividend Yield: 0.53
- Total Sales: INR 21,211.09 Crores
- Sales Growth: 22.55%
- ROCE: 2.80%
- ROE: 1.53 %
- P/E Ratios: 39.08
- Promoter Holding: 63.17%
2. Siemens India Limited
Siemens India Limited is a German multinational conglomerate and among the top 10 electrical companies in India, headquartered in Munich and has branches in many countries including India. It was founded by Werner Von Siemens and manufactures products like Power Generators, Electricals, Water Steamers, and LED switches.
Their energy-related products include Gas and Steam Turbines, Generators, and Compressors. Their other few products are Switch Gears, Touch Sensors, and Fans.
- Cash: INR 4,848.80 Crores (21-22)
- Market Capitalization: INR 1,03,887.40 Crores
- Company Value: INR 99,041.10 Crores
- Dividend Yield: 0.27%
- Sales Growth: 24.32%
- ROCE: 15.76%
- ROE: 11.13%
- P/E Ratios: 87.1
- Promoter Holding: 75%
3. Havells India Limited
Havells India Limited is one of the top electrical companies in India with a global presence in more than 7 countries. Qimat Rai Gupta founded the company. It manufactures home appliances such as fans, lights, water heaters, optical gear switches, LED appliances, and much more.
The company provides midday meals for about 50,000 children every day. It also has adopted an exceptionally clean waste management strategy.
- Cash: INR 2,535.84 Crores (21-22)
- Market Capitalization: INR 77,464.80 Crores
- Company Value: INR 75,322 Crores
- Dividend Yield: 0.61%
- Sales Growth: 33.19%
- ROCE: 27.75%
- ROE: 21.43%
- P/E Ratios: 71.19
- Promoter Holding: 59.45
4. ABB India Limited
ABB India is a Swedish-swiss company headquartered in Zurich, Germany, and one of the best electrical companies in India. It is involved in the manufacture of Electrical Switches, Fans, Geysers, and LED switches. The products come under major segments like robotics, automation, power, and power electronics.
Peter Voser is the current chairman of the group. The company’s total revenue is 27.978 B USD with a net income of 1.439 B USD and a total asset value of 44.441 B USD. There are about 144,400 employees actively working for the company’s upliftment.
- Cash: INR 2,687.74 Crores (21-22)
- Market Capitalization: INR 66,875.10 Crores
- Company Value: INR 64,187.36 Crores
- Dividend Yield: 0.17%
- Sales Growth: 19.12%
- ROCE: 19.42%
- ROE: 13.92%
- P/E Ratios: 80.5
- Promoter Holding: 75%
5. Crompton Greaves Consumer Electrical Ltd
Crompton Greaves Consumer Electrical Ltd is an Indian Multinational Company. The company was founded by R.E.B Crompton and James Greaves. The company works under public sector undertaking and works under the government of India.
The main products are Transformers, Pump, HT and LT Motors, DC Motors, Railway Signaling, etc. It is owned by the renowned Murugappa Group. It has received many awards for its manufacturing facilities and labs. The Murugappa Group recently acquired a stake of 56% accounting for about Rs. 700 Cr recently.
- Cash: INR 903.78 Crores (21-22)
- Market Capitalization: INR 22,589.84 Crores
- Company Value: INR 23,241.31 Crores
- Dividend Yield: 0.7%
- Sales Growth: 13.12%
- ROCE: 24.92%
- ROE: 29.14%
- P/E Ratios: 38.33
- Promoter Holding: 2.54%
6. Polycab India Limited
Polycab India Limited is one of the country’s leading manufacturers of Gears, Switches, Wires, and Allied Products including uPVC Conduits and other electrical appliances. Their main products include Lighting, Luminaries, Geysers, and Sensors.
The company has many branches and hubs inside the countries spread around different regions. Their focus is on FMCG, and they have a good track record for two years. It was founded by T Jaisinghhani and T Giridhari. Their wires are insulated with high-grade polymer and all their products are of good quality.
- Cash: INR 390.52 Crores (21-22)
- Market Capitalization: INR 40,499.69 Crores
- Company Value: INR 40,185.71 Crores
- Dividend Yield: 0.52%
- Sales Growth: 38.48%
- ROCE: 24.21%
- ROE: 18.33%
- P/E Ratios: 35.55
- Promoter Holding: 67.97
7. Exide Industries Limited
Exide Industries Limited has remained the most reliable electrical company for a very long time now. It’s also one of the best battery companies apart from electrical goods and electronic systems. The company has two manufacturing facilities, one in the USA and SPAIN.
Lead-acid and mercury batteries are used in many major hardware-equipped technologies. Their products are also purchased by many global brands and companies including Indian Steel Companies like TATA Steel and defense manufacturer DRDO.
Headquartered in Kolkata, it exports and imports products and equipment parts from and to many companies. The total revenue of the company is 9186 C INR with an operating income of Rs. 1,244 Cr. and a net income of Rs. 668 Cr. The total asset value is about Rs. 7,751 Cr. The company is known as an automotive and solar battery company and later grew up into one of the largest corporations in the country.
- Cash: INR 161.22 Crores (21-22)
- Market Capitalization: INR 14,522.25 Crores
- Company Value: INR 14,361.03 Crores
- Dividend Yield: 1.14%
- Sales Growth: 23.31%
- ROCE: 65.81%
- ROE: 53.53%
- P/E Ratios: 3.04
- Promoter Holding: 45.99%
8. Bajaj Electricals Limited
Bajaj Electricals Ltd. is a part of the 380 million worth Bajaj group. The company is mainly focused on the production and manufacturing of electrical products. The main and most purchased products include Lights, Luminaries, LED, Switches, Fans, and LPG-based Generators.
Founded by Kamalnayan Bajaj, it is among the top electrical and electronics manufacturers in the country. It has subsidiaries and branches spread around the country. One among them is Starlite Lighting.
- Cash: INR 141.34 Crores (21-22)
- Market Capitalization: INR 13,313.81 Crores
- Company Value: INR 13,197.04 Crores
- Dividend Yield: 0.26%
- Sales Growth: 4.31%
- ROCE: 13.33%
- ROE: 9.12%
- P/E Ratios: 63.09%
- Promoter Holding: 62.91%
9. V-Guard Electricals
V-Guard Electricals was founded by Kochouseph Chittilapelly for creating a new brand in the electrical sector. It is among the top 50 best companies manufacturing and distributing electrical equipment parts and figures. The company has crossed many milestones since its year of establishment.
The main products are Voltage Stabilizers, Digital UPS, Inverter Batteries, Electrical Water Heaters, Solar Pumps, Industrial Motors, and Gas Stoves. Their relationship with their consumers has helped them grow in the years of their journey.
It has manufacturing facilities in more than two major cities. The total revenue of the company is 25.66 B INR with an operating income of 25.85 B INR. As of 2019, there were about 2,200 active employees in different brands.
- Cash: INR 53.88 Crores (21-22)
- Market Capitalization: INR 11,429.02 Crores
- Company Value: INR 11,385.14 Crores
- Dividend Yield: 0.49 %
- Sales Growth: 28.74%
- ROCE: 22.63%
- ROE: 17.83 %
- P/E Ratios: 47.57
- Promoter Holding: 55.86 %
10. Finolex Cables Limited
Finolex Cables is another great electrical company in India that was founded in July 1945 by two brothers namely P.P. Chhabria and K.P. Chhabria in Pune. With its tagline, get people together, it started its business with the manufacturing of PVC-insulated electrical cables which turned out great, and the company later diversified into other electrical components.
Finolex also manufactures optical fiber cables, switches, LED lighting, fan, MCBs, water heaters, and much more. The company has manufacturing facilities at Pimpri and Urse in Pune as well as in Goa & Uttarakhand.
The company has, over the years, established its reputation as an innovative leader and quality manufacturer by continuously upgrading technology, modernizing manufacturing facilities, and maintaining the highest standards of quality and services. The company has received the IS/ISO 9001 Quality Management Systems Certification across all product lines and plants.
- Cash: INR 38.42 Crores (21-22)
- Market Capitalization: INR 7,870.26 Crores
- Company Value: INR 7,832.63 Crores
- Dividend Yield: 1.18%
- Sales Growth: 36.13%
- ROCE: 17%
- ROE: 13.02 %
- P/E Ratios: 18.21
- Promoter Holding: 35.92 %
11. Orient Electric Limited
Orient Electric Limited (OEL) is a part of the diversified USD 2.4 Bn Indian Conglomerate CK Birla Group. The company started its operations with fans and soon it established itself as a distinguished name in the Fan Industry for over 60 years.
Gone are those days, when OEL was limited to fans, rather in 2022, the company has become an industry thought leader in the market as a one-stop brand for lifestyle electrical solutions including appliances such as Fans, Lighting, Home and Kitchen Appliances, Switchgears, and much more.
Orient Electric Limited has made its place in the Fortune India 500 which is the collection of India’s Largest Corporations which makes it one of the topmost electrical companies in India.
- Cash: INR 150.52 Crores (21-22)
- Market Capitalization: INR 5,601.96 Crores
- Company Value: INR 5,466.16 Crores
- Dividend Yield: 0.76%
- Sales Growth: 20.46%
- ROCE: 37.01%
- ROE: 25.81%
- P/E Ratios: 53.08
- Promoter Holding: 38.42%
12. Schneider Electric India Pvt. Ltd.
Schneider Electric India Pvt. Ltd. is a European multinational company providing energy and automation solutions since 1836. It was founded by Eugene Schneider and Adolphe Schneider and is headquartered in France.
The main products are Building and Home Automation, Switches, Sockets, Industrial Safety Systems, Industrial Control Systems, Electrical Power Distribution, and Grid Automation. Their new focus now is to include technology in their business.
The total revenue of the company is 27.2B Euros and the operating income is 4.2B Euros. The total asset and equity values are 45 B Euros and 23.14 B Euros respectively. There are about 1,35,000 employees actively working in various branches.
- Cash: INR 36.11 Crores (21-22)
- Market Capitalization: INR 3,939.24 Crores
- Company Value: INR ₹ 4,401.66 Cr. Crores
- Dividend Yield: 0%
- Sales Growth: 17.98%
- ROCE: 14.14%
- ROE: 428.41%
- P/E Ratios: 44.91
- Promoter Holding: 75%
13. Surya Roshni Ltd
Surya Roshni is one of the best electrical companies in India and specialized in lights and bulbs though laid its foot in other business areas of electrical devices. The company was founded in 1973 with its headquarters in New Delhi. The company is currently headed by Mr. J.P. Agarwal as its Chairman.
Over the period, Surya Roshni has also started manufacturing a wider range of consumer and professional lightings such as High Mast & Poles, HID Lamp, Solar Lighting, Roadway Lighting, and other electrical appliances such as Glass Cooktops, Fan, Pvc Pipes, Steel Pipes, Air Coolers, Water Heaters, Irons, Torches, Lantern, CFL, FTL, GLS, Extension Board, Holder, Immersion Heater.
The list doesn’t end here, Surya also deals with kitchen appliances, heating appliances, climate control, garment care, cooking, and much more.
- Cash: INR 0.79 Crores (21-22)
- Market Capitalization: INR 2,548.24 Crores
- Company Value: INR 3,127.47 Crores
- Dividend Yield: 0.86%
- Sales Growth: 39.17%
- ROCE: 16.16%
- ROE: 14.10%
- P/E Ratios: 13.46
- Promoter Holding: 62.96%
14. ALSTOM India Limited
Alstom is a French multinational company initially focused on building railway vehicles and signaling machines. Now the company has many business segments working under it.
The company’s annual income is 693 Million Euros with total asset and equity values being 13.410 B Euros and 4.159 B Euros respectively. There are about 75,000 active employees. Alstom has established a strong presence in India.
The company manufactures products like electrical locomotive parts, rail buildings, sensors, and switches. It has also taken the new metro project in different cities. The company has 4 manufacturing sites in the country and 2 depots for exports and imports.
15. Kelvin Electricals
Kelvin Electricals is regarded as A class electrical contractor and is also involved in networking, repairing projects, and office maintenance apart from the electrical sector. It provides high-quality products with the help of well-equipped manufacturing facilities.
Ceiling Fans, Portable Fans, Cables, Switches, Fuse, and LT Machines are among the most purchased of their makings. They cater to all kinds of office/ household needs apart from providing industrial and domestic solutions.
The List of Top Electrical Companies in India
The above list of Electrical Companies In India is based on the performance of the company in the sector along with the total revenue, sales turnover, and production volume.
All these companies have major intakes in this market and are manufacturing the largest or almost all electrical products.
Among the list of Electrical Companies In India, Bajaj Electricals is largely dealing in Consumer Durables. I hope you found this list of top electrical companies helpful. If you have doubts, feel free to comment below.