Power Transmission & Grid

RPG group EPC major and one of the world's largest transmission-tower builders; T&D is about three-fifths of its order book, alongside civil, railways and cables

EPC group (merged with JMC) with T&D as its largest business, plus buildings, water, railways and oil & gas; owns Linjemontage (Sweden) and Fasttel (Brazil)

Transmission EPC company that also makes its own towers, conductors and poles; listed in Dec 2024

India's largest EPC group; its Power Transmission & Distribution business builds substations, lines and grid projects in India and the Gulf (also in the energy sector for generation EPC)

Kolkata-based maker of transmission towers, monopoles and telecom structures that also does T&D EPC and runs a PVC-pipe business

Bajaj group's power transmission and distribution EPC company, demerged from Bajaj Electricals in 2023, with its own tower plant

India's largest conductor maker and a major cable and specialty-oil company; makes HTLS, copper and OPGW conductors and sells heavily overseas (also in data-centre and solar sectors)

Unlisted maker of overhead conductors, OPGW and EHV cables, split from the Resonia transmission developer in 2025

Unlisted Odisha-based maker of conductors, cables and wires

Gujarat conductor and power-cable maker revived after insolvency by the GSEC group

Maker of transmission-line hardware, fasteners and tower parts, and of solar mounting structures (also in the energy and solar sectors)

Cable maker with one of India's largest EHV (up to 400 kV) cable businesses, plus HT/LT cable and wires (also in real estate and data-centre sectors)

India's largest wires and cables maker, expanding into EHV cable and taking power-distribution and BharatNet EPC work (also in real estate and data-centre sectors)

MP Birla group maker of EHV and HV power cables (up to 400 kV) and capacitors, Satna (MP)

India's largest smart-meter maker and an AMISP for discoms under RDSS (AMISP arm co-owned with GIC)

Meter and switchgear maker supplying smart meters to AMISPs and discoms, plus lighting and wires

Substation and transmission EPC company that became a smart-meter AMISP and is building data centres

Unlisted AMISP joint venture of EESL and NIIF, among the largest smart-meter rollouts in India

Indian arm of Hitachi Energy (ex-ABB Power Grids): power transformers, HVDC, GIS, grid automation and power quality - the broadest grid-equipment maker in India (also in the data-centre sector)

Indian arm of GE Vernova's grid business: power transformers, GIS, HVDC and grid automation

Contract manufacturer making transformers and power equipment alongside solar structures (listed Oct 2026; also in solar)

Ahmedabad maker of power transformers up to 1,200 kV, furnace and rectifier transformers and reactors (also in the data-centre sector)

Siemens Energy's Indian arm, demerged from Siemens Ltd and listed in Jun 2025: power transformers, HVDC, switchgear and turbines (also in the energy sector)

Murugappa group maker of power transformers, switchgear and industrial motors, also building an OSAT chip plant (also in railways, data-centre and semiconductor sectors)

Vadodara maker of power and distribution transformers up to 220 kV, mostly for industrial and utility customers

Gujarat maker of power and distribution transformers with a large export business

Gujarat (Anand) maker of power, auto and inverter-duty transformers for utilities and renewable plants; listed Sep 2025

Jaipur company that processes CRGO steel into transformer laminations and cores, and makes transformers and does substation EPC; listed Aug 2025

Sangli maker of reactors, HVDC and FACTS components and transformers for grid operators worldwide; listed Feb 2025

State engineering major; HVDC consortium partner with Hitachi Energy, plus power transformers and substations (also in energy, railways and naval sectors)

Siemens Ltd after the 2025 energy demerger: smart infrastructure (GIS, switchgear, substation automation), digital industries and mobility (also in the railways sector)

Medium- and low-voltage switchgear, distribution automation, drives and robotics (ABB's high-voltage grid business is now Hitachi Energy) (also in data-centre and railways sectors)

Schneider's listed Indian arm making distribution transformers, MV switchgear and grid automation (also in the data-centre sector)

Aditya Birla aluminium and copper major: supplies aluminium rod for conductors and copper rod for windings and cables (also in Nifty 50, electronics and critical-minerals sectors)

India's largest aluminium producer (Jharsuguda, BALCO), demerged from Vedanta and listed on 15 Jun 2026; a major supplier of aluminium wire rod to conductor makers

State aluminium and alumina producer selling wire rods and EC-grade metal to conductor makers (also in the critical-minerals sector)

State-owned, India's only integrated copper miner - copper for windings and cables starts here (also in the critical-minerals sector)

Steel major whose 50:50 JV with JFE Steel (JSW JFE Electrical Steel) is India's only CRGO producer (also in Nifty 50 and real-estate sectors)

India's largest power exchange, with the dominant share of day-ahead, real-time and green power trading

India's largest power trader, buying and selling power across states and with neighbouring countries

State lender to power utilities and a nodal agency for RDSS; its REC Power Development & Consultancy arm runs TBCB bids and incubates project SPVs

State power lender and REC's parent; its PFC Consulting arm is a bid-process coordinator for ISTS TBCB projects

Unlisted state system operator that schedules and dispatches power on the national grid; proposed market-coupling operator