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Indian (NIFTY) Industrials Sector Analysis

UpdatedSep 15, 2025
DataAggregated Company Financials
Companies1039
  • 7D2.9%
  • 3M-0.4%
  • 1Y-8.4%
  • YTD-1.7%

Hindustan Aeronautics is up 7.7%, leading the way for the Industrials industry, which has gained 2.9%. In contrast, the industry has lost 8.4% in the last 12 months. Earnings are forecast to grow by 18% annually.

Sector Valuation and Performance

Has the Indian Industrials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 15 Sep 2025₹60.2t₹17.9t₹1.5t28.2x39.2x3.4x
Wed, 13 Aug 2025₹58.0t₹17.8t₹1.5t28.6x37.7x3.3x
Fri, 11 Jul 2025₹61.4t₹17.5t₹1.5t30x40.7x3.5x
Sun, 08 Jun 2025₹59.7t₹17.4t₹1.5t29.6x39.8x3.4x
Tue, 06 May 2025₹50.8t₹16.2t₹1.4t27.5x35.3x3.1x
Thu, 03 Apr 2025₹50.3t₹16.1t₹1.4t26.8x36.2x3.1x
Sat, 01 Mar 2025₹44.9t₹16.1t₹1.4t26x32.4x2.8x
Mon, 27 Jan 2025₹51.8t₹15.7t₹1.3t32.9x39.8x3.3x
Wed, 25 Dec 2024₹58.3t₹16.3t₹1.4t36.4x42.9x3.6x
Fri, 22 Nov 2024₹54.9t₹16.3t₹1.4t33.3x40.6x3.4x
Sun, 20 Oct 2024₹59.7t₹14.9t₹1.2t37.3x49.3x4x
Tue, 17 Sep 2024₹60.1t₹14.8t₹1.2t37.6x49.9x4.1x
Thu, 15 Aug 2024₹58.6t₹14.7t₹1.2t36.6x49.6x4x
Sat, 13 Jul 2024₹63.7t₹15.0t₹1.2t37.4x53.3x4.2x
Mon, 10 Jun 2024₹57.7t₹15.0t₹1.2t33x48.2x3.9x
Wed, 08 May 2024₹50.2t₹13.8t₹1.0t34.7x48.1x3.6x
Fri, 05 Apr 2024₹49.3t₹13.8t₹1.0t33.3x47.7x3.6x
Sun, 03 Mar 2024₹46.8t₹13.8t₹1.0t33.7x45.4x3.4x
Tue, 30 Jan 2024₹46.5t₹13.5t₹968.3b33.4x48x3.4x
Thu, 28 Dec 2023₹41.7t₹13.5t₹964.3b30.5x43.2x3.1x
Sat, 25 Nov 2023₹36.9t₹13.4t₹956.4b29x38.6x2.8x
Mon, 23 Oct 2023₹35.8t₹13.2t₹920.8b30.2x38.8x2.7x
Wed, 20 Sep 2023₹35.7t₹13.1t₹918.7b29.1x38.8x2.7x
Fri, 18 Aug 2023₹33.6t₹13.0t₹917.7b27.4x36.6x2.6x
Sun, 16 Jul 2023₹31.8t₹12.8t₹883.3b27.9x36x2.5x
Tue, 13 Jun 2023₹30.4t₹12.8t₹879.0b26.8x34.5x2.4x
Thu, 11 May 2023₹27.5t₹12.5t₹819.7b24.1x33.6x2.2x
Sat, 08 Apr 2023₹25.8t₹12.4t₹798.5b21.9x32.3x2.1x
Mon, 06 Mar 2023₹25.4t₹12.2t₹781.9b21.9x32.5x2.1x
Wed, 01 Feb 2023₹26.1t₹11.9t₹755.0b23.5x34.6x2.2x
Fri, 30 Dec 2022₹27.2t₹11.8t₹742.0b23.5x36.7x2.3x
Sun, 27 Nov 2022₹28.0t₹11.7t₹736.3b22.9x38x2.4x
Tue, 25 Oct 2022₹26.2t₹11.0t₹654.7b23.6x40x2.4x
Thu, 22 Sep 2022₹27.2t₹11.0t₹652.6b24.1x41.7x2.5x
Price to Earnings Ratio

41.7x


Total Market Cap: ₹27.2tTotal Earnings: ₹652.6bTotal Revenue: ₹11.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Industrials Sector Price to Earnings3Y Average 40.3x202320242025
Current Industry PE
  • Investors are relatively neutral on the Indian Industrials industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 40.3x.
  • The 3-year average PS ratio of 3.0x is lower than the industry's current PS ratio of 3.4x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 33% per year over the last three years.
  • Revenues for these companies have grown 18% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Indian Industrials sector?

IN Market1.60%
Industrials2.89%
Aerospace & Defense7.69%
Infrastructure5.27%
Marine and Shipping4.04%
Industrials3.70%
Trade Distributors3.52%
Machinery2.15%
Professional Services2.12%
Electrical2.01%
Transportation1.80%
Construction1.14%
Logistics0.16%
Commercial Services0.037%
Airlines0%0
Building-0.30%
Industry PE
  • Investors are most optimistic about the Professional Services industry which is trading above its 3-year average PE ratio of 38.6x.
    • Analysts are expecting annual earnings growth of 16.6%, which is lower than the prior year's growth of 20.0% per year.
  • Investors are most pessimistic about the Marine and Shipping industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 12.5x.
Forecasted Growth
  • Analysts are most optimistic on the Logistics industry, expecting annual earnings growth of 35% over the next 5 years.
  • This is better than its past earnings growth rate of 28% per year.
  • In contrast, the Industrials industry is expected to see its earnings grow by 11% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
HAL Hindustan Aeronautics₹4.80k7.9%
+₹235.1b		4.3%PE38.6x
500049 Bharat Electronics₹398.307.1%
+₹193.0b		37.2%PE52.9x
MAZDOCK Mazagon Dock Shipbuilders₹2.92k9.8%
+₹104.8b		37.6%PE54.4x
ADANIPORTS Adani Ports and Special Economic Zone₹1.40k3.5%
+₹101.3b		-3.2%PE26.7x
500510 Larsen & Toubro₹3.59k1.9%
+₹93.1b		-2.1%PE32x

Latest News

MAZDOCK
₹2,924.90
Mazagon Dock Shipbuilders
7D
9.8%
1Y
37.6%
CRAFTSMAN
₹6,590.00
Craftsman Automation
7D
-3.6%
1Y
2.8%

Craftsman Automation (NSE:CRAFTSMAN) May Have Issues Allocating Its Capital

Sep 13
Craftsman Automation (NSE:CRAFTSMAN) May Have Issues Allocating Its Capital
ASHOKLEY
₹133.94
Ashok Leyland
7D
-2.4%
1Y
9.9%
CGPOWER
₹791.35
CG Power and Industrial Solutions
7D
6.0%
1Y
10.8%

Government And Utility Spending Will Drive Global Grid Modernization

CG Power and Industrial Solutions saw a slight drop in its future P/E ratio, indicating a modest improvement in valuation, while net profit margins remained stable, resulting in a minor increase in the consensus analyst price target to ₹750.29. What's in the News Board meeting scheduled to consider and approve unaudited Q1 FY26 financial results on standalone and consolidated basis.
VOLTAMP
₹7,250.50
Voltamp Transformers
7D
-6.8%
1Y
-47.5%

Under The Bonnet, Voltamp Transformers' (NSE:VOLTAMP) Returns Look Impressive

Sep 10
Under The Bonnet, Voltamp Transformers' (NSE:VOLTAMP) Returns Look Impressive
512599
₹2,383.10
Adani Enterprises
7D
3.2%
1Y
-20.2%
ESCORTS
₹3,643.00
Escorts Kubota
7D
-3.4%
1Y
-5.3%

Expanded Exports And Kubota Integration Will Transform Agri Markets

With both the Future P/E and Discount Rate for Escorts Kubota remaining effectively unchanged, analysts have maintained the consensus fair value estimate at ₹3443. What's in the News Escorts Kubota launched the Kubota MU4201 tractor, entering the 41-44 HP category in India, targeting diverse agricultural applications with advanced features.
SIEMENS
₹3,293.70
Siemens
7D
5.5%
1Y
-50.9%

These 4 Measures Indicate That Siemens (NSE:SIEMENS) Is Using Debt Reasonably Well

Sep 05
These 4 Measures Indicate That Siemens (NSE:SIEMENS) Is Using Debt Reasonably Well
POLYCAB
₹7,250.00
Polycab India
7D
-1.0%
1Y
7.8%

Government Infrastructure And Renewables Will Drive Future Demand

With both Net Profit Margin and Discount Rate remaining stable, there has been no impact on Polycab India's fair value, with the consensus analyst price target unchanged at ₹7563. What's in the News CFO Gandharv Tongia resigned citing personal reasons, effective on or before October 27, 2025.
500510
₹3,585.35
Larsen & Toubro
7D
1.9%
1Y
-2.1%

Expanding International Orders Will Build Future Infrastructure And Digital Sectors

Given that both the net profit margin (6.8%) and revenue growth forecasts (14.4% p.a.) for Larsen & Toubro remained stable, analysts have maintained their consensus price target at ₹4060. What's in the News L&T secured an ultra-mega contract from Adani Power to set up eight 800 MW thermal power units (6,400 MW total), executed by L&T Energy - CarbonLite Solutions, involving full scope BTG packages and associated systems.
HAL
₹4,795.20
Hindustan Aeronautics
7D
7.9%
1Y
4.3%

New Defense Orders And Pipeline Will Drive Aerospace Modernization

With both the discount rate and net profit margin effectively unchanged, the fair value estimate for Hindustan Aeronautics remains steady at ₹5620. What's in the News Board meeting scheduled to consider audited financial results for the quarter and period ended June 30, 2025.
ADANIPORTS
₹1,395.20
Adani Ports and Special Economic Zone
7D
3.5%
1Y
-3.2%

Expanding Mundra, Colombo And Vizhinjam Ports Will Reshape Global Connectivity

With both the consensus analyst price target and future P/E ratio for Adani Ports and Special Economic Zone remaining virtually unchanged, reflecting stability in analyst expectations and valuation assumptions, the fair value estimate has held steady at ₹1718. What's in the News Board meeting scheduled to consider and approve unaudited financial results for the quarter ended June 30, 2025.
TECHNOE
₹1,462.90
Techno Electric & Engineering
7D
-4.4%
1Y
-7.4%

Techno Electric & Engineering (NSE:TECHNOE) Is Increasing Its Dividend To ₹9.00

Sep 04
Techno Electric & Engineering (NSE:TECHNOE) Is Increasing Its Dividend To ₹9.00
500049
₹398.30
Bharat Electronics
7D
7.1%
1Y
37.2%
ENRIN
₹3,402.40
Siemens Energy India
7D
-2.8%
1Y
n/a
IWEL
₹10,652.00
Inox Wind Energy
7D
-5.2%
1Y
50.1%