Indian Nuclear Energy Stocks With Data Center And Power Grid Exposure

Global markets are wrestling with sticky inflation, shifting rate expectations and energy price swings linked to Middle East conflict. That mix keeps reliable power and secure fuel supplies firmly in focus for many investors. Nuclear energy stocks bring together uranium producers, fuel cycle specialists and reactor operators that sit at the heart of this theme. The Nuclear Energy Stocks screener filters this wide universe into a tighter set of listed companies with direct exposure to nuclear power. In this article you will see 3 stocks from the screener that help turn a broad idea into specific ticker-level research.

Kirloskar Oil Engines (NSEI:KIRLOSENG)

Overview: Kirloskar Oil Engines is a Pune based engineering company that supplies diesel engines, gensets, pumps and related power solutions for sectors like data centers, infrastructure, telecom, agriculture and defense in India and overseas, backed by spares, services and financing through its dealer network.

Operations: Kirloskar Oil Engines generates most of its ₹76.0b revenue from B2B customers at ₹56.9b, with B2C at ₹11.4b and Financial Services at ₹8.8b, and around ₹68.0b from India versus ₹9.0b from exports.

Market Cap: ₹318.7b

Kirloskar Oil Engines gives you direct exposure to backup and mission critical power in a country where data centers, infrastructure and urban real estate are all expanding and grid reliability remains patchy. The company currently earns a significant portion of its revenue from higher margin large engines, exports and a growing service base, while the stock trades on a relatively high P/E and above a discounted cash flow estimate. The recent 192 MW data center order and proposed dividend illustrate how data center and digital demand are feeding into cash generation. On the other hand, there is heavy reliance on diesel technology, rising financing risk and capital tied up in underperforming businesses, which you may wish to weigh carefully against the broader business context.

Kirloskar Oil Engines sits at the crossroads of data center demand and backup power, yet the full story is not just about a high P/E or dividend headlines. See how the 2 key rewards and 3 important warning signs (1 is major!) might change how you think about its diesel reliance and capital allocation.

Larsen & Toubro (BSE:500510)

Overview: Larsen & Toubro is a Mumbai based engineering and construction conglomerate that delivers large scale infrastructure, energy, defence, nuclear, and technology projects, along with hi tech manufacturing, real estate, data centers and digital services in India and overseas.

Operations: Larsen & Toubro generates most of its revenue from Infrastructure Projects at ₹1,354.2b, followed by Energy Projects at ₹549.0b, IT & Technology Services at ₹545.7b, Financial Services at ₹178.5b and Hi Tech Manufacturing at ₹144.9b, with smaller contributions from Development Projects and Others.

Market Cap: ₹5,272.7b

Larsen & Toubro sits at the intersection of infrastructure build out, clean energy and digital demand. This positioning matters for investors following nuclear and power grid themes. A record order book of ₹6.13t, growing exposure to green hydrogen, data centers and high margin tech services, and high quality earnings are key positives that help support current expectations for revenue and earnings growth. At the same time, heavy dependence on government and Middle East contracts, funding entirely through external borrowing and pressure on project margins mean the story is far from risk free. If you care about how this mix of growth drivers and funding risks could affect future returns, the full Larsen & Toubro breakdown is worth a closer look.

Larsen & Toubro’s record order book and mix of infrastructure, energy and tech services hint at a story that many investors may only see half of. Scan the 2 key rewards and 1 important warning sign to see what might be quietly shaping expectations next.

Bharat Heavy Electricals (BSE:500103)

Overview: Bharat Heavy Electricals is a New Delhi based engineering company that supplies power plant equipment and turnkey services across coal, gas, hydro, nuclear and solar power, as well as rail, transmission, defence, aerospace, oil and gas, e-mobility and energy storage in India and abroad.

Operations: Bharat Heavy Electricals generates most of its revenue from Power at ₹274.3b, with Industry contributing ₹85.7b.

Market Cap: ₹1,412.3b

Bharat Heavy Electricals provides exposure to large scale power and industrial projects at a time when India is adding supercritical coal units, nuclear and green hydrogen capacity, supported by exports such as the Dangote Nigeria gas turbine contract. Earnings have moved from loss to profit with net income of ₹16,002.6m in FY2025-26 and a further profit in Q1 FY2026. The company currently earns a 6.8% net margin and is paying a final dividend of ₹1.40 per share. At the same time, a high P/E multiple, reliance on external borrowing, an unstable dividend record and concerns around board independence mean the recent growth story comes with governance and funding questions that investors may wish to examine closely.

Bharat Heavy Electricals has moved from losses to profit; however, its high P/E, borrowing needs and governance concerns suggest that the real story lies beneath the headlines. Read the 2 key rewards and 1 important warning sign

The three nuclear exposed stocks in this article are only a starting point, and the full Nuclear Energy Stocks screener highlights 20 more companies with equally compelling narratives around uranium supply, enrichment and reactor build out. Use Simply Wall St to identify and analyze the specific catalysts and narratives that matter to you so you can focus on the nuclear energy stocks that best match your highest conviction ideas.

Take Control of Your Investment Journey

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Seeking Fresh Ideas Beyond Nuclear?

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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