Indian Capital Goods Undiscovered Gems With Strong Fundamentals

SML Isuzu

Market Cap: ₹46.7b

Manufactures and sells commercial vehicles and related parts in India and internationally.

Concord Enviro Systems

Market Cap: ₹12.0b

Engages in the design, manufacture, installation, operation, and maintenance of industrial water and wastewater treatment, and reuse and zero liquid discharge systems and plants.

KP Green Engineering

Market Cap: ₹26.7b

Engages in engineering and manufacture of steel structure in India.

Mamata Machinery

Market Cap: ₹11.4b

Mamata Machinery Limited manufacture and sells plastic bag and pouch making systems in India and internationally.

Om Infra

Market Cap: ₹12.4b

Engages in the design, engineering, manufacture, supply, installation, testing, and commissioning of hydro mechanical equipment for hydroelectric power and irrigation projects in India and internationally.

Indo Tech Transformers

Market Cap: ₹19.8b

Manufactures and distributes transformers in India and internationally.

Enviro Infra Engineers

Market Cap: ₹49.2b

Engages in the design, construction, operation, and maintenance of water and wastewater treatment plants (WWTPs) and water supply scheme projects (WSSPs) for government authorities and bodies in India.

Yuken India

Market Cap: ₹14.5b

Engages in the manufacture and sale of oil hydraulic equipment primarily in India.

Indo Farm Equipment

Market Cap: ₹8.6b

Manufactures and sells agricultural, industrial, and construction equipment in India.

Hind Rectifiers

Market Cap: ₹22.5b

Engages in the designs, development, manufacture, and marketing of power semiconductor devices, power electronic equipment, and railway transportation equipment in India and internationally.

Oriana Power

Market Cap: ₹46.2b

Provides solar energy solutions to industrial and commercial customers in India.

Marsons

Market Cap: ₹29.2b

Engages in manufacturing, supplying, erecting, testing, and commissioning of Power and Distribution transformers in India.

MSTC

Market Cap: ₹37.0b

Engages in marketing, e-commerce, and scrap recovery and allied job businesses primarily in India.

Taneja Aerospace and Aviation

Market Cap: ₹12.3b

Operates in aerospace and aviation business in India.

Yash Highvoltage

Market Cap: ₹16.7b

Manufactures, distributes, and exports high voltage and EHV condenser graded transformer bushings.

AXISCADES Technologies

Market Cap: ₹59.2b

Operates as an engineering solutions company in Europe, the United States, the Asia Pacific, and Canada.

TAAL Enterprises

Market Cap: ₹10.8b

Provides engineering design services.

CFF Fluid Control

Market Cap: ₹12.8b

Manufactures, overhauls, repairs, and maintains shipboard machinery, combat systems, reference, and test facilities for submarines and surface ships for Indian navy.

Bondada Engineering

Market Cap: ₹47.8b

Provides engineering, procurement, and construction, and operations and maintenance services for telecom and renewable energy sectors in India.

Rajesh Power Services

Market Cap: ₹24.5b

Provides turnkey projects services in India.

A B Infrabuild

Market Cap: ₹11.1b

Provides construction and related allied services in India.

Waaree Renewable Technologies

Market Cap: ₹101.7b

Engages in the generation of power through renewable energy sources in India.

Krishna Defence and Allied Industries

Market Cap: ₹11.8b

Engages in the designing, developing, and manufacturing range of equipment for defence, security, dairy, and kitchen verticals in India.

Sathlokhar Synergys E&C Global

Market Cap: ₹10.2b

Operates as an integrated engineering, procurement, construction, and infra turnkey contracting company in India.

Vascon Engineers

Market Cap: ₹12.1b

Provides engineering, procurement, and construction (EPC) services in India.

Advait Energy Transitions

Market Cap: ₹22.1b

Provides products and solutions for power transmission, substation, and telecommunication infrastructure sectors in India and internationally.

Diffusion Engineers

Market Cap: ₹11.9b

Manufactures and sells welding consumables, wear plates and parts, and heavy engineering equipment for various industries in India and internationally.

Refex Industries

Market Cap: ₹56.6b

Engages in handling and disposal of fly ash in India.

PIX Transmissions

Market Cap: ₹21.2b

Manufactures and sells belts and related mechanical power transmissions products in India and internationally.

ESAB India

Market Cap: ₹79.4b

Manufactures and sells welding and cutting equipment and consumables in India and internationally.

Lloyds Engineering Works

Market Cap: ₹117.0b

Provides engineering products and services in India.

GPT Infraprojects

Market Cap: ₹15.6b

GPT Infraprojects Limited, together with its subsidiaries, carries out civil and infrastructure projects in India and internationally.

Spectrum Electrical Industries

Market Cap: ₹25.0b

Designs, manufactures, and sells electrical, automobile, and irrigation components in India.

HBL Engineering

Market Cap: ₹166.2b

Manufactures and sells batteries, power electronics, and spun concrete products in India and internationally.

Shanthi Gears

Market Cap: ₹39.1b

Designs, manufactures, supplies, and services gears and gear boxes in India, the United States, Europe, and internationally.

Frontier Springs

Market Cap: ₹19.9b

Produces and sells L.H.B.