Indian Capital Goods Undervalued based on future growth

Inox Wind

Market Cap: ₹137.6b

Engages in the manufacture and sale of wind turbine generators and components for independent power producers, utilities, public sector undertakings, businesses, and private investors in India.

Graphite India

Market Cap: ₹121.4b

Manufactures and sells graphite electrodes, and carbon and graphite specialty products in India and internationally.

NCC

Market Cap: ₹90.4b

Operates in the construction business in India and internationally.

Olectra Greentech

Market Cap: ₹72.2b

Manufactures and sells electric buses and trucks in India.

Power Mech Projects

Market Cap: ₹62.7b

Provides services in power and infrastructure sectors in India and internationally.

Skipper

Market Cap: ₹39.0b

Manufactures and sells transmission and distribution structures, telecom towers, and fasteners in India.

J. Kumar Infraprojects

Market Cap: ₹37.4b

Engages in the construction business in India.

H.G. Infra Engineering

Market Cap: ₹31.8b

Engages in the engineering, procurement, and construction (EPC) business in India.

Greaves Cotton

Market Cap: ₹31.7b

Operates engineering and mobility retail business in India, the Middle East, Africa, Southeast Asia, and internationally.

Man Industries (India)

Market Cap: ₹29.6b

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

Pitti Engineering

Market Cap: ₹28.6b

Manufactures and sells iron and steel engineering products in India and internationally.

Enviro Infra Engineers

Market Cap: ₹26.7b

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.

KSH International

Market Cap: ₹26.2b

Manufactures magnet winding wires in India.

Ador Welding

Market Cap: ₹16.7b

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

M & B Engineering

Market Cap: ₹16.2b

An engineering company, engages in the design, manufacturing, and installation of pre-engineered metal buildings, self-supported steel roofing, and complex steel components.

Capacit'e Infraprojects

Market Cap: ₹16.0b

Engages in the engineering, procurement, and construction business in India.

Somany Ceramics

Market Cap: ₹14.8b

Manufactures and sells ceramic tiles and related products in India.