Indian Capital Goods Undiscovered Gems With Strong Fundamentals

SML Mahindra

Market Cap: ₹55.3b

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

Mamata Machinery

Market Cap: ₹10.3b

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

Indo Farm Equipment

Market Cap: ₹9.1b

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

Indo Tech Transformers

Market Cap: ₹16.9b

Manufactures and sells transformers in India and internationally.

Hind Rectifiers

Market Cap: ₹24.9b

Designs, develops, manufactures, and markets power semiconductors, power electronic equipment, and railway transportation equipment in India and internationally.

KP Green Engineering

Market Cap: ₹20.9b

Engages in engineering and manufacture of steel structure in India.

Enviro Infra Engineers

Market Cap: ₹35.0b

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.

SG Mart

Market Cap: ₹41.8b

Trades in building material products in India and internationally.

RRP Defense

Market Cap: ₹12.8b

Engages in the manufacture, operations, repair, renting, and training of drones in India.

Oriana Power

Market Cap: ₹47.1b

Provides renewable energy solutions in India.

AXISCADES Technologies

Market Cap: ₹55.5b

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

TAAL Tech

Market Cap: ₹9.2b

Provides engineering design services in India and internationally.

MSTC

Market Cap: ₹32.8b

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

CFF Fluid Control

Market Cap: ₹11.2b

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

GK Energy

Market Cap: ₹30.6b

Engages in the design, manufacture, supply, transport, installation, testing, and commissioning of decentralized solar systems in India.

Yash Highvoltage

Market Cap: ₹13.0b

Manufactures and sells high voltage and high current transformer bushings in India and internationally.

WPIL

Market Cap: ₹36.1b

Engages in designing, developing, manufacturing, erecting, commissioning, and servicing pumps and pumping systems in India and internationally.

Marsons

Market Cap: ₹26.6b

Engages in manufacturing, supplying, erecting, testing, and commissioning of power and distribution transformers in India.

R M Drip and Sprinklers Systems

Market Cap: ₹19.9b

Designs, manufactures, and sells micro irrigation equipment and components in India.

V-MARC India

Market Cap: ₹16.6b

Manufactures and markets electrical wires and cables under the V-Marc brand name in India.

Waaree Renewable Technologies

Market Cap: ₹98.5b

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

Kilburn Engineering

Market Cap: ₹29.2b

Designs, manufactures, supplies, installs, and commissions customized process equipment for various applications in India and internationally.

Bondada Engineering

Market Cap: ₹40.7b

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

Advait Energy Transitions

Market Cap: ₹16.7b

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

Rajesh Power Services

Market Cap: ₹19.8b

Provides engineering, procurement, and construction contracting and services to power transmission and distribution utilities companies in India.

Honda India Power Products

Market Cap: ₹23.8b

Engages in the manufacture, marketing, and sale of portable generators, water pumps, general purpose engines, lawn mowers, brush cutters, hand tools, portable gensets, tillers, and marine engines in India and internationally.

Sathlokhar Synergys E&C Global

Market Cap: ₹11.3b

Operates as an integrated engineering, procurement, and construction turnkey contractor in India.

Garuda Construction and Engineering

Market Cap: ₹18.9b

Offers civil construction services in India.

Refex Industries

Market Cap: ₹43.6b

Engages in handling and disposal of fly ash in India.

Vascon Engineers

Market Cap: ₹10.2b

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

A B Infrabuild

Market Cap: ₹12.5b

Engages in the civil construction business in India.

Vilas Transcore

Market Cap: ₹9.9b

Manufactures and sells cold-rolled grain-oriented (CRGO) transformer laminations and allied components in India and internationally.

Krishna Defence and Allied Industries

Market Cap: ₹10.2b

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

Atlanta Electricals

Market Cap: ₹67.2b

Manufactures and sells transformers to institutional and corporate customers in India.

Diffusion Engineers

Market Cap: ₹11.4b

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

ESAB India

Market Cap: ₹97.9b

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