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India's Nuclear Power Surge: A 18.5 Trillion Gamble?
10 Nov
Summary
- India aims for 100 GW nuclear power by 2047, requiring massive investment.
- Three Indian companies are crucial to supplying nuclear power components.
- MTAR, Ratnamani, and HCC are key players in India's nuclear expansion.
India is embarking on an ambitious plan to boost its nuclear power capacity to 100 GW by 2047, a target necessitating a colossal investment estimated between ₹16.4 lakh crore and ₹20 lakh crore. This expansion presents significant long-term opportunities for companies involved in the nuclear power supply chain.
MTAR Technologies is a crucial partner, supplying specialized components like the Fuel Machining Head to the Nuclear Power Corporation of India (NPCIL). As of Q2 FY27, MTAR has a nuclear order book of ₹820 crore, with further opportunities from projects like the Kaiga reactor expansion and potential private sector involvement.
Ratnamani Metals & Tubes is expanding its role by supplying specialized nuclear-grade tubes and piping. Its joint venture, RFSS, is enhancing manufacturing capacity and holds an order backlog exceeding ₹3,000 crore, bolstered by recent overseas orders.
Hindustan Construction Company (HCC) has a proven track record, having constructed approximately 60% of India's current nuclear power capacity. While its nuclear sector order backlog is currently 3% of its total, HCC is positioning itself for future large-scale projects and anticipates significant order wins by FY28.
The sustained growth in India's nuclear power sector is expected to drive substantial revenue and order book expansion for these companies in the coming years.
