Indian Capital Goods Undervalued Small Caps

Transrail Lighting

Market Cap: ₹65.3b

An engineering, procurement, and construction (EPC) company, engages in the designing, manufacturing, testing, installation, and supply of galvanized steel structures and conductors for power transmission and distribution in India and internationally.

Technocraft Industries (India)

Market Cap: ₹46.3b

Engages in scaffolding business in India and internationally.

Man Industries (India)

Market Cap: ₹26.0b

Manufactures, processes, sells, and trades in submerged arc-welded pipes and steel products in India.

Ajax Engineering

Market Cap: ₹65.2b

Manufactures and sells self-loading concrete mixers, concrete batching plants, and concrete pumps in India and internationally.

Ador Welding

Market Cap: ₹17.5b

Manufactures and supplies welding equipment, consumables, and automation solutions in India and internationally.