Best Green Hydrogen Stocks in May 2025: Adani Power, JSW Energy, NTPC & More- 5Y CAGR Basis

India is making rapid strides towards clean energy, with a spotlight on green hydrogen, a promising fuel source that is poised to reshape the energy landscape. With the National Green Hydrogen Mission, India is on track to become a global leader in green hydrogen production, utilisation, and exports.

The country aims to produce at least 5 MMT (Million Metric Tonnes) of green hydrogen annually by 2030, supported by an additional 125 GW of renewable energy capacity. 

In this context lets take a look at the best green hydrogen stocks for May 2025 as per 5 year CAGR.

Best 10 Green Hydrogen Stocks in May 2025 - Based on 5Y CAGR

Note: The stocks mentioned above have been selected and sorted based on 5Y CAGR as of May 9, 2025.

Overview of Best 5 Green Hydrogen Stocks in May

1. Adani Power Ltd

Adani Power, part of the Adani Group, is prioritising cleaner energy solutions, including biomass blending with coal, to reduce its carbon emissions and support green hydrogen efforts.

Despite a 4% YoY dip in Q4FY25 net profit to ₹2,637 crore, the company saw a 6.5% increase in revenue, reaching ₹14,237 crore. However, its annual profit after tax (PAT) dropped by 38% YoY, despite a 12% growth in full-year revenue. This indicates a mixed performance as the company navigates its green energy transition.

Key Metrics:

• ROE: 25.85%
• ROCE: 77.05%

2. JSW Energy Ltd

In February 2025, JSW Neo Energy Ltd, a subsidiary of JSW Energy Ltd, secured a Letter of Award (LoA) to develop 6.5 ktpa of green hydrogen production capacity under the SIGHT Scheme. For Q4 FY25, JSW Energy showcased impressive growth, adding 3.6 GW to its capacity, bringing the total to 10.9 GW.

The company's revenue from operations saw a 17% YoY increase, reaching ₹1,283.18 crore, while total income rose by 14.3%, totaling ₹1,371.9 crore.

Key Metrics:

• ROE: 8.36%
• ROCE: 62.61%

3. Adani Total Gas Ltd

Adani Total Gas Ltd (ATGL) plans to integrate green hydrogen with natural gas using cutting-edge technologies, with the goal of serving over 4,000 residential and commercial PNG customers in its pilot phase.

In Q4 FY25, the company reported an 8% YoY drop in net profit to ₹155 crore, despite a 15.5% increase in revenue, which reached ₹1,453.37 crore. This performance shows strong revenue growth, though profit was impacted. ATGL also declared a dividend for the period.

Key Metrics:

• ROE: 20.4%
• ROCE: 41.55%

4. Adani Green Energy Ltd

Adani Green Energy Ltd (AGEL) is rapidly growing its renewable energy portfolio while exploring green hydrogen projects to support India's clean energy goals.

In Q4 FY25, the company posted a 53.3% YoY increase in consolidated net profit, reaching ₹230 crore. Revenue from operations also rose by 21.6% to ₹3,073 crore. This highlights AGEL's strong financial performance alongside its green expansion.

Key Metrics:

• ROE: 11.77%
• ROCE: 32.92%

5. NTPC Ltd

NTPC is playing a key role in advancing India’s green hydrogen ambitions through initiatives like hydrogen blending in Kawas township and a planned 20 GW green hydrogen hub in Visakhapatnam.

These projects support the nation’s broader renewable energy targets and aim to accelerate green fuel usage. In Q3 FY25, NTPC posted a 3% rise in net profit to ₹4,711.4 crore, with operational revenue climbing 4.8% to ₹41,352.3 crore.

Key Metrics:

• ROE: 10.63%
• ROCE: 31.34%

Top Green Hydrogen Stocks in May Sorted by Debt-to-Equity Ratio

Below is a list of key energy sector stocks, ranked based on their debt-to-equity ratio, which indicates their financial leverage and risk profile.

Note: The stocks mentioned above have been selected and sorted based on the debt-to-equity ratio as of May 9, 2025.

Best Green Hydrogen Stocks Sorted by Net Profit Margin

Net profit margin reflects a company's ability to generate earnings relative to revenue, showcasing its cost management and operational efficiency.

Note: The stocks mentioned above have been selected and sorted based on net profit margin as of May 9, 2025.

Conclusion

These companies are not only investing in hydrogen production but also integrating it with renewable energy sources to drive efficiency and long-term growth.

While the sector holds immense potential, investors and stakeholders should stay informed about industry developments, policy changes, and financial performance before making any decisions. 

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.