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Indian (NIFTY) Industrials Sector Analysis

UpdatedDec 02, 2025
DataAggregated Company Financials
Companies1085
  • 7D1.2%
  • 3M1.7%
  • 1Y-3.8%
  • YTD-2.5%

The Industrials is pretty flat in the last 7 days, but Tata Motors has stood out, gaining 12%. As for the longer term, the industry has declined 3.2% in the last year. Earnings are forecast to grow by 19% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 02 Dec 2025₹61.5t₹18.6t₹1.6t25.3x38.3x3.3x
Thu, 30 Oct 2025₹61.1t₹18.1t₹1.6t27.8x39.4x3.4x
Sat, 27 Sep 2025₹59.8t₹17.9t₹1.5t28.1x38.8x3.3x
Mon, 25 Aug 2025₹59.0t₹17.8t₹1.5t28.9x38.5x3.3x
Wed, 23 Jul 2025₹60.9t₹17.5t₹1.5t30.5x40.2x3.5x
Fri, 20 Jun 2025₹57.7t₹17.3t₹1.5t29.6x38.5x3.3x
Sun, 18 May 2025₹55.3t₹16.6t₹1.5t29.2x37.9x3.3x
Tue, 15 Apr 2025₹47.4t₹16.1t₹1.4t26.7x34.1x2.9x
Thu, 13 Mar 2025₹46.7t₹16.1t₹1.4t26.2x33.6x2.9x
Sat, 08 Feb 2025₹51.0t₹16.0t₹1.4t31.6x37.1x3.2x
Mon, 06 Jan 2025₹59.3t₹16.3t₹1.4t37.1x43.6x3.6x
Wed, 04 Dec 2024₹60.3t₹16.3t₹1.4t35.5x44.5x3.7x
Fri, 01 Nov 2024₹57.9t₹15.9t₹1.3t35.1x43.9x3.6x
Sun, 29 Sep 2024₹60.6t₹14.8t₹1.2t37.6x50.3x4.1x
Tue, 27 Aug 2024₹60.4t₹14.8t₹1.2t37.4x50.5x4.1x
Thu, 25 Jul 2024₹61.3t₹15.0t₹1.2t36.8x51.1x4.1x
Sat, 22 Jun 2024₹61.0t₹15.0t₹1.2t35.4x51x4.1x
Mon, 20 May 2024₹54.7t₹14.1t₹1.1t35.8x51x3.9x
Wed, 17 Apr 2024₹48.7t₹13.8t₹1.0t32.9x47x3.5x
Fri, 15 Mar 2024₹44.6t₹13.8t₹1.0t29.9x43.2x3.2x
Sun, 11 Feb 2024₹45.0t₹13.7t₹1.0t33.6x44x3.3x
Tue, 09 Jan 2024₹42.9t₹13.5t₹964.9b33x44.5x3.2x
Thu, 07 Dec 2023₹40.1t₹13.4t₹959.4b30.2x41.8x3x
Sat, 04 Nov 2023₹35.0t₹13.2t₹937.7b30.3x37.3x2.6x
Mon, 02 Oct 2023₹35.6t₹13.2t₹924.6b29.1x38.5x2.7x
Wed, 30 Aug 2023₹34.6t₹13.1t₹918.2b28.7x37.7x2.6x
Fri, 28 Jul 2023₹32.8t₹13.0t₹878.5b28.8x37.3x2.5x
Sun, 25 Jun 2023₹30.2t₹12.8t₹882.1b26.5x34.3x2.4x
Tue, 23 May 2023₹27.6t₹12.7t₹829.8b24.8x33.2x2.2x
Thu, 20 Apr 2023₹26.0t₹12.4t₹798.0b23x32.6x2.1x
Sat, 18 Mar 2023₹25.2t₹12.2t₹781.8b21.1x32.2x2.1x
Mon, 13 Feb 2023₹25.1t₹12.1t₹767.5b23.3x32.7x2.1x
Wed, 11 Jan 2023₹27.3t₹11.8t₹742.5b23.9x36.8x2.3x
Fri, 09 Dec 2022₹28.7t₹11.7t₹733.4b24.4x39.1x2.5x
Price to Earnings Ratio

39.1x


Total Market Cap: ₹28.7tTotal Earnings: ₹733.4bTotal Revenue: ₹11.7tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Industrials Sector Price to Earnings3Y Average 40.2x202320242025
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 40.2x.
  • The industry is trading close to its 3-year average PS ratio of 3.1x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 29% per year over the last three years.
  • Revenues for these companies have grown 17% 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 Market1.00%
Industrials1.16%
Machinery3.40%
Infrastructure2.57%
Industrials2.56%
Aerospace & Defense2.12%
Marine and Shipping1.63%
Professional Services1.30%
Construction0.86%
Logistics0.69%
Electrical0.26%
Airlines0%0
Commercial Services-0.34%
Building-0.89%
Transportation-1.07%
Trade Distributors-4.05%
Industry PE
  • Investors are most optimistic about the Professional Services industry which is trading above its 3-year average PE ratio of 40.5x.
    • Analysts are expecting annual earnings growth of 16.7%, which is higher than its past year's earnings growth of 12.7% 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 13.3x.
Forecasted Growth
  • Analysts are most optimistic on the Logistics industry, expecting annual earnings growth of 33% over the next 5 years.
  • This is better than its past earnings growth rate of 20% per year.
  • In contrast, the Trade Distributors industry is expected to see its earnings grow by 8.7% 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
TMCV Tata Motors₹359.0512.0%
+₹141.6b		n/an/a
500049 Bharat Electronics₹417.153.3%
+₹97.6b		36.0%PE53.5x
ADANIPORTS Adani Ports and Special Economic Zone₹1.53k3.0%
+₹96.3b		25.9%PE27.6x
ASHOKLEY Ashok Leyland₹160.3010.9%
+₹92.3b		39.5%PE28.9x
500510 Larsen & Toubro₹4.07k1.4%
+₹79.5b		9.9%PE35.2x

Latest News

ENRIN
₹3,140.90
Siemens Energy India
7D
-0.7%
1Y
n/a

Shareholders Will Be Pleased With The Quality of Siemens Energy India's (NSE:ENRIN) Earnings

Dec 02
Shareholders Will Be Pleased With The Quality of Siemens Energy India's (NSE:ENRIN) Earnings
512599
₹2,262.55
Adani Enterprises
7D
-5.7%
1Y
-7.8%

512599: Ongoing Index Shifts And Asset Acquisitions Will Drive Expansion

Adani Enterprises' analyst price target remains steady at ₹2,965, as analysts reaffirm their outlook given unchanged revenue growth and profit margin forecasts. There have been only minor adjustments to discount rates and future earnings estimates.
ASTRAL
₹1,440.50
Astral
7D
-2.2%
1Y
-20.7%

ASTRAL: Upcoming Board Meeting Will Drive Momentum With Interim Dividend Decision

Analysts have raised their price target for Astral from $1,631.78 to $1,681.19. They cite improved profit margin expectations and slight adjustments in growth assumptions as key drivers for the increase.
500049
₹417.15
Bharat Electronics
7D
3.3%
1Y
36.0%

500049: New Defence Orders Will Drive Upward Momentum Over Coming Year

Analysts have slightly increased their price target for Bharat Electronics from ₹458.74 to ₹462.85. This reflects marginal improvements in fair value estimates based on updated model inputs.
JYOTICNC
₹983.90
Jyoti CNC Automation
7D
-5.3%
1Y
-22.8%

JYOTICNC: Expanding European Operations Will Sustain Upside Momentum Into 2025

Analysts have adjusted their price target for Jyoti CNC Automation and are maintaining a fair value estimate of ₹1,205. They cite modest upward revisions to revenue growth projections and a slightly higher discount rate in their updated analysis.
500510
₹4,071.10
Larsen & Toubro
7D
1.4%
1Y
9.9%

500510: Expanding Defence And Power Projects Will Support Balanced Medium-Term Outcomes

Analysts have raised their fair value estimate for Larsen & Toubro from ₹4,367.81 to ₹4,399.97, citing incremental improvements in revenue growth and profit margin forecasts. What's in the News Larsen & Toubro will produce BvS10 Sindhu all-terrain vehicles under a new contract with the Indian Army, with technical support from BAE Systems.
CGPOWER
₹669.75
CG Power and Industrial Solutions
7D
-1.9%
1Y
-11.3%

CGPOWER: New Manufacturing Facility Will Drive Capacity Expansion And Value Creation

Analysts have raised their price target for CG Power and Industrial Solutions from ₹781.94 to ₹791.87, citing modest improvements in revenue growth projections and profit margins that support a slightly higher company valuation. What's in the News The board has approved the establishment of a new Greenfield Switchgear manufacturing facility in Western India, aiming to double the company's current Switchgear manufacturing capacity and expand across Medium Voltage and Extra High Voltage segments (Key Developments).
ASHOKLEY
₹160.30
Ashok Leyland
7D
10.9%
1Y
39.5%

ASHOKLEY: New Bus Orders And Electrification Plans Will Support Near-Term Outlook

Analysts have raised their price target for Ashok Leyland from ₹144.50 to ₹155.08, reflecting improved expectations for revenue growth and profit margins. What's in the News The board of directors declared an interim dividend of INR 1/- per equity share for the financial year ending 2025-26.
500480
₹4,542.10
Cummins India
7D
5.7%
1Y
32.5%

500480: Profit Margin Gains And Revenue Outlook Will Support Balanced Assessment

Analysts have raised their price target for Cummins India from ₹4,189 to ₹4,422, citing modest improvements in estimated revenue growth and profit margin outlooks. What's in the News Cummins India projects double-digit revenue growth for the financial year 2025 to 2026, based on updated earnings guidance (Key Developments).
SUZLON
₹53.72
Suzlon Energy
7D
-1.6%
1Y
-18.8%

SUZLON: Upcoming CFO Appointment And Record Renewable Order Will Accelerate Performance

Suzlon Energy's analyst price target has been slightly raised from ₹73.9 to ₹74.4. This adjustment reflects analysts' modest optimism, driven by marginal improvements in valuation metrics and discount rates. What's in the News The Board of Suzlon Energy will meet on October 29, 2025 to discuss the appointment of Mr. Rahul Jain as Chief Financial Officer, effective December 15, along with other business matters (Board Meeting).
ADANIPORTS
₹1,530.50
Adani Ports and Special Economic Zone
7D
3.0%
1Y
25.9%

ADANIPORTS: Rising Cargo Volumes And Lower Discount Rate Will Drive Profit Expansion

Analysts have slightly increased their price target for Adani Ports and Special Economic Zone from ₹1,736 to ₹1,761. They cite modest adjustments in financial projections and updated discount rates as the reasons for this change.
SIEMENS
₹3,310.20
Siemens
7D
4.6%
1Y
-56.2%

Siemens Limited's (NSE:SIEMENS) Price Is Out Of Tune With Earnings

Nov 24
Siemens Limited's (NSE:SIEMENS) Price Is Out Of Tune With Earnings
522275
₹2,800.25
GE Vernova T&D India
7D
-2.3%
1Y
58.8%

522275: Planned Facility Expansion And Dividend Will Drive Future Upside

Analysts have raised their price target for GE Vernova T&D India from ₹3,079.75 to ₹3,538.50, citing modest improvements in the company's revenue growth outlook and a lower discount rate. These factors together support a higher valuation.
505790
₹3,905.40
Schaeffler India
7D
-1.7%
1Y
6.9%

505790: Fair Outlook Will Reflect Railway Sector Momentum And Manufacturing Expansion

Analysts have raised Schaeffler India's price target from ₹4,397 to ₹4,515. This change reflects modest improvements in projected revenue growth and a slightly lower discount rate, despite small adjustments in profit margin and forward P/E expectations.
HAL
₹4,530.70
Hindustan Aeronautics
7D
1.9%
1Y
0.6%

Hindustan Aeronautics Limited Just Recorded A 9.3% EPS Beat: Here's What Analysts Are Forecasting Next

Nov 15
Hindustan Aeronautics Limited Just Recorded A 9.3% EPS Beat: Here's What Analysts Are Forecasting Next