The Indian hydropower industry is witnessing transformative changes with NHPC Limited and SJVN Limited emerging as key players. NHPC, known for hydroelectric power generation, project management, and power trading, reported a revenue increase but a decline in net profits. On the other hand, SJVN, which also offers consultancy services, saw revenue growth and a slight profit increase. Both companies have ambitious expansion plans, with NHPC aiming for 23 GW by 2032 and SJVN targeting 25 GW by 2030. The companies are venturing into renewable energy sources like green hydrogen and green ammonia. The recent 'Navratna' status given to NHPC and SJVN by the Indian Government underscores their importance in driving India's energy sector forward. Industry-wide, there are ongoing projects set to raise India's hydro capacity by over 50 percent by 2031-32, as per the Ministry of Power's projections. The financial and operational autonomy granted through the 'Navratna' status is expected to further bolster the growth and impact of NHPC and SJVN in the Indian energy landscape.