Gas-insulated and air-insulated switchgear, circuit breakers, protection relays and substation automation that switch and protect the grid.
Hitachi Energy IndiaDirect supplier · HighListed
SiemensDirect supplier · MediumListed
GE Vernova T&D IndiaDirect supplier · HighListed
ABB IndiaDirect supplier · MediumListed
CG Power and Industrial SolutionsDirect supplier · MediumListed
Schneider Electric InfrastructureDirect supplier · MediumListed
ABB India (ABB)
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)
Price
₹6,774
snapshot 6 Nov 2026
Strengths
Leader in MV switchgear and distribution automation for utilities, data centres and industry
Net-cash balance sheet
Risks
Little high-voltage transmission exposure
Rich valuation - see the figures
Key stats — company snapshot as of 6 Nov 2026
Mkt Cap
₹1.43L Cr
Stock P/E
93.0x
Div Yield
0.58%
ROCE
29.9%
ROE
22.4%
P/B
15.4x
Revenue growth
+8.3%CY25
Profit growth
−10.9%CY25
Net margin
12.6%CY25
1Y vs Nifty
+32 ptsNifty −1.9%
Revenue, ₹ Cr (5-yr) — company table
6,934FY22
8,568FY23
10,447FY24
12,188FY25
13,203FY26
Stock price return · as of 6 Nov 2026
1Y price return
+30%
3Y CAGR
+17%
5Y CAGR
+26%
Trend79th percentile
52-week range as of 6 Nov 2026 vs snapshot price · 15% below its high
Note: Reports Jan-Dec fiscal year: the FY22-FY26 columns hold CY2021-CY2025
Market cap, ratios, CAGR and revenue: company table snapshot as of 6 Nov 2026 (the same figures on every page). Price: snapshot as of 6 Nov 2026. Not investment advice.
Where it fits
Supplies the breakers, disconnectors, instrument transformers and protection systems that isolate faults in milliseconds, plus the SCADA and automation that let operators run substations remotely. Gas-insulated switchgear (GIS) packs a substation into a fraction of the land, which is why cities and new pooling stations use it.
Why it matters
Every new substation and bay needs switchgear, and the MNC subsidiaries that dominate high-voltage GIS (Hitachi Energy, Siemens, GE Vernova) have full order books. Medium-voltage switchgear also rides the data-centre, metro and industrial build-out.
Where the value pool sits
High-voltage GIS and automation earn mid-to-high teens EBITDA for the MNC leaders; medium-voltage products are more competitive. Royalties and technology fees to parent companies are part of the cost structure.