Best Green Hydrogen Stocks in India in July 2025-NTPC Ltd, Adani Power, and Oil India, Among Others Based on 5Y CAGR

The National Green Hydrogen Mission, launched by the Indian government in 2023, aims to make India a global hub for green hydrogen production and export. With a target of producing 5 million metric tonnes annually by 2030, the mission supports R&D, infrastructure, and the creation of domestic demand for clean energy resources.

The National Green Hydrogen Mission is central to India's clean energy transition, aiming to reduce carbon emissions, cut fossil fuel imports, and drive industrial decarbonisation across sectors like power, mobility, and fertilisers. Several Indian companies are aligning with this vision and making significant strides in green hydrogen development. In this article, we decode them for you.

Top Green Hydrogen Stocks in July 2025 - Based on 5Y CAGR.

Note: The stocks mentioned above have been selected and sorted based on market cap as of July 2, 2025.

Overview of the Best 5 Green Hydrogen Stocks in July 2025

1. NTPC Ltd

NTPC is leading India’s public sector push into green hydrogen. It has launched pilot projects for green hydrogen blending in natural gas and is developing hydrogen mobility solutions in Leh and renewable hydrogen production facilities. Through its subsidiary NTPC Renewable Energy, the company plans to scale up electrolyser capacity and explore hydrogen fuel in industrial clusters, aligning with India’s net-zero goals.

Key Metrics:

• Dividend Yield: 2.51%
• Return on Equity (ROE): 13.17%

2. Power Grid Corporation of India Ltd

While Power Grid’s core focus is transmission infrastructure, the company plays a crucial enabler role in India’s green hydrogen journey. It is investing in smart grid and renewable energy evacuation networks that support hydrogen projects. Power Grid is also expected to benefit from increased transmission demand as green hydrogen projects scale, particularly in remote, renewable-rich regions like Rajasthan and Gujarat.

Key Metrics:

• Dividend Yield: 3.02%
• Return on Equity (ROE): 18.30%

3. Adani Power Ltd

Adani Power, part of the Adani Group, is strategically positioned to benefit from the group’s ambitious green hydrogen plans. While Adani Power itself focuses on thermal and renewable energy generation, it will support green hydrogen through a captive green energy supply. The Adani Group aims to become one of the world’s largest green hydrogen producers by 2030, and Adani Power’s infrastructure will play a key supporting role.

Key Metrics:

• Return on Equity (ROE): 25.59%

4. Adani Total Gas Ltd

Adani Total Gas is actively exploring green hydrogen as a clean fuel alternative in city gas distribution. The company, a joint venture with TotalEnergies, is assessing hydrogen blending into piped gas and developing refuelling infrastructure for hydrogen mobility. It is also investing in green hydrogen pilot projects as part of the Adani Group’s broader $50 billion hydrogen roadmap over the next decade.

Key Metrics:

• Dividend Yield: 0.04%
• Return on Equity (ROE): 16.81%

5. Oil India Ltd

Oil India is diversifying into green hydrogen through pilot projects for hydrogen production using solar energy at its Assam facilities. The company is evaluating green hydrogen’s industrial applications and aims to repurpose existing infrastructure for clean fuel. It has signed agreements to explore electrolysis technologies and intends to scale up production if the pilots prove successful, aligning with India’s clean energy targets.

Key Metrics:

• Dividend Yield: 2.65%
• Return on Equity (ROE): 13.41%

Top Green Hydrogen Stocks in July 2025 - Based on Cash Flow Margin and Net Profit Margin

Note: The stocks mentioned above have been selected and sorted as of July 2, 2025.

Power Grid (79.34%), Adani Power (36.50%), and Oil India (31.91%) earn the most cash from their sales. These companies actually bring in much more cash than their reported profits. This means they are financially strong and have plenty of cash from their daily business, which can be invested in major projects.

Read more: Best Flexi Cap Funds in July 2025: Kotak Flexicap, Parag Parekh Flexi Cap and More Based on 3Y CAGR.

Conclusion

As India advances its green hydrogen mission, several companies are expanding into this emerging sector through pilot projects, infrastructure support, or green energy supply. While the space remains at an early stage, firms like NTPC, Adani Power, and Oil India are exploring opportunities aligned with national goals. Thus, they are emerging as an attractive choice for Indian investors.

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.