Best Green Hydrogen Stocks For March 2025: JSW Energy, Adani Green Energy and More: Based on 5Y CAGR

India’s green hydrogen industry is currently hindered by the absence of a robust statewide pipeline network. From 2015 to 2018, global production of green hydrogen reached approximately one million metric tons. Produced using renewable energy, green hydrogen differs from blue hydrogen, which is derived from fossil fuels but includes carbon capture and storage processes. Blue hydrogen production is anticipated to rise to 80 million metric tons by 2050, provided ongoing government support for cleaner energy solutions continues.

Best Green Hydrogen Stocks for March 2025 – Based on 5Y CAGR

Note: The stocks mentioned above have been selected and sorted based on 5Y CAGR as of February 28, 2024

Overview of Best Green Hydrogen Stocks

1. JSW Energy Limited

JSW Energy Ltd is engaged in the business of generation of power from its power assets located at Karnataka, Maharashtra, Nandyal and Salboni. It is the holding company for the JSW group’s power business. During Q3FY25, the company signed a definitive agreement to acquire a 4,696 MW RE Platform. In addition, the transaction stood at an Enterprise Valuation of ₹12,468 crores after adjusting for net current assets.

Key Metrics:

• ROE: 8.40%
• ROCE: 8.59%

2. Adani Green Energy Limited

Adani Green Energy Limited is engaged in the business of renewable power generation within the group and is primarily involved in renewable power generation and other ancillary activities. During Q3FY25, the company’s operational capacity has outpaced the industry, achieving a CAGR of 41% in the last 5 years (Industry CAGR ~13%) and is on track to achieve its stated target of 50 GW by 2030.

Key Metrics:

• ROE: 14.7%
• ROCE: 9.65%

3. ONGC

ONGC is the largest crude oil and natural gas company in India, contributing around 71% to Indian domestic production. During Q3FY25, the company acquired an additional 0.615% PI in ACG, Azerbaijan and 0.737% PI in the BTC pipeline.

Key Metrics:

• ROE: 16.3%
• ROCE: 18.4%

4. Reliance Industries Limited

Reliance Industries Limited is an Indian conglomerate, which operates in business ranging from Oil to Chemical to retail. The company reported robust performance led by consumer businesses and O2C. In addition, it recorded sequential improvement across all key operating segments.

Key Metrics:

ROE: 9.25%

ROCE: 9.61%

5. Indian Oil Corporation Ltd

Indian Oil Corporation Ltd is engaged in the business interests straddling the entire hydrocarbon value chain – from Refining, Pipeline transportation and marketing of Petroleum products to R&D, Exploration & production, and marketing of natural gas and petrochemicals. During Q3FY25, revenue from operations stood at ₹2,16,649 crores as against ₹ 1,95,149 crores in the preceding quarter of this year.

Key Metrics:

• ROE: 25.7%
• ROCE: 21.1%

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.