India’s Union Cabinet gave the green light to the PM Dharas scheme, a plan to evacuate 135 GW of renewable power and push ₹1.44 lakh crore into transmission upgrades—while ₹0.42 lakh crore will fund battery storage.
Hitachi Energy, Siemens Energy, CG Power, Polycab, KEI Industries and Apar Industries are positioned to receive a wave of high‑voltage contracts, as the grid expansion will demand new transformers, cables and control gear.
RITES’ ₹9,500 crore order book is now half backed by turnkey construction, and the firm projects a 20% annual rise in this segment over the next two years as rail‑to‑port projects accelerate.
BEML’s ₹17,000 crore order book, with ₹11,000 crore linked to rail and metro, is expected to grow 25% in FY26‑27, bolstered by Bengaluru, Chennai and Mumbai metro coach deliveries and defense contracts.
Tendering is slated to pick up in the next six months, so market participants are sizing up the upside for transmission players while monitoring how quickly the capital expenditure cycle will roll out across the sector.