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Indian (NIFTY) Industrials Sector Analysis

UpdatedMar 01, 2026
DataAggregated Company Financials
Companies1105
  • 7D0.1%
  • 3M-0.7%
  • 1Y22.5%
  • YTD0.5%

Last week, the Industrials industry hasn't moved much but Tata Motors is up 6.9% in that time. The past year has been better, since the industry has gained 22% in that time. 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
Sun, 01 Mar 2026₹61.9t₹19.2t₹1.7t21.2x36.4x3.2x
Tue, 27 Jan 2026₹55.6t₹18.7t₹1.6t21.6x33.9x3x
Thu, 25 Dec 2025₹60.2t₹18.7t₹1.7t24.8x36.5x3.2x
Sat, 22 Nov 2025₹61.4t₹18.6t₹1.6t25.6x39x3.3x
Mon, 20 Oct 2025₹60.4t₹18.1t₹1.5t27.4x38.9x3.3x
Wed, 17 Sep 2025₹61.2t₹17.9t₹1.5t28.6x39.8x3.4x
Fri, 15 Aug 2025₹58.2t₹17.8t₹1.5t28.8x38x3.3x
Sun, 13 Jul 2025₹60.8t₹17.5t₹1.5t29.9x40.3x3.5x
Tue, 10 Jun 2025₹60.1t₹17.4t₹1.5t29.8x40.1x3.5x
Thu, 08 May 2025₹49.9t₹16.2t₹1.4t26.8x34.6x3.1x
Sat, 05 Apr 2025₹48.7t₹16.1t₹1.4t26.6x35.1x3x
Mon, 03 Mar 2025₹45.0t₹16.1t₹1.4t26x32.4x2.8x
Wed, 29 Jan 2025₹49.7t₹15.7t₹1.3t31.4x38.2x3.2x
Fri, 27 Dec 2024₹58.7t₹16.3t₹1.4t36.2x43.1x3.6x
Sun, 24 Nov 2024₹55.8t₹16.3t₹1.4t33.5x41.3x3.4x
Tue, 22 Oct 2024₹58.5t₹14.9t₹1.2t37.1x48.3x3.9x
Thu, 19 Sep 2024₹59.6t₹14.8t₹1.2t37.4x49.5x4x
Sat, 17 Aug 2024₹59.7t₹14.7t₹1.2t35.8x50x4.1x
Mon, 15 Jul 2024₹63.7t₹15.0t₹1.2t37.4x53.3x4.3x
Wed, 12 Jun 2024₹58.0t₹15.0t₹1.2t34.1x48.5x3.9x
Fri, 10 May 2024₹49.6t₹14.0t₹1.0t34.4x47.3x3.5x
Sun, 07 Apr 2024₹49.6t₹13.8t₹1.0t33.8x47.9x3.6x
Tue, 05 Mar 2024₹47.1t₹13.8t₹1.0t33.5x45.6x3.4x
Thu, 01 Feb 2024₹44.9t₹13.6t₹979.0b33.7x45.9x3.3x
Sat, 30 Dec 2023₹42.0t₹13.5t₹964.5b30.7x43.5x3.1x
Mon, 27 Nov 2023₹36.9t₹13.4t₹956.3b29x38.6x2.8x
Wed, 25 Oct 2023₹34.7t₹13.2t₹920.5b28.8x37.6x2.6x
Fri, 22 Sep 2023₹35.5t₹13.2t₹922.3b28.8x38.5x2.7x
Sun, 20 Aug 2023₹33.6t₹13.0t₹917.6b27.6x36.6x2.6x
Tue, 18 Jul 2023₹32.0t₹12.8t₹883.3b28.1x36.2x2.5x
Thu, 15 Jun 2023₹30.6t₹12.8t₹878.9b26.7x34.8x2.4x
Sat, 13 May 2023₹27.7t₹12.6t₹826.8b24.3x33.5x2.2x
Mon, 10 Apr 2023₹25.8t₹12.4t₹798.5b22x32.3x2.1x
Wed, 08 Mar 2023₹25.6t₹12.2t₹781.9b21.9x32.8x2.1x
Price to Earnings Ratio

32.8x


Total Market Cap: ₹25.6tTotal Earnings: ₹781.9bTotal Revenue: ₹12.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Industrials Sector Price to Earnings3Y Average 40.2x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian Industrials industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 36.4x which is lower than its 3-year average PE of 40.2x.
  • The industry is trading close to its 3-year average PS ratio of 3.2x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 30% per year over the last three years.
  • Revenues for these companies have grown 16% 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 Market-0.79%
Industrials0.12%
Industrials4.36%
Electrical3.05%
Machinery1.08%
Marine and Shipping0.83%
Infrastructure0.58%
Building0.19%
Trade Distributors0.0068%
Airlines0%0
Logistics-0.84%
Transportation-0.89%
Construction-1.71%
Aerospace & Defense-2.50%
Professional Services-4.30%
Commercial Services-6.39%
Industry PE
  • Investors are most optimistic about the Logistics industry even though it's trading below its 3-year average PE ratio of 75.5x.
    • Analysts are expecting annual earnings growth of 37.1%, which is higher than its past year's earnings growth of 11.9% 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 14.2x.
Forecasted Growth
  • Analysts are most optimistic on the Marine and Shipping industry, expecting annual earnings growth of 61% over the next 5 years.
  • This is better than its past earnings growth rate of 26% per year.
  • In contrast, the Trade Distributors industry is expected to see its earnings decline by 19% 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₹505.306.9%
+₹119.3b		n/an/a
POLYCAB Polycab India₹8.61k9.4%
+₹111.6b		82.7%PE49.4x
SIEMENS Siemens₹3.42k6.6%
+₹75.6b		-26.1%PE72.2x
POWERINDIA Hitachi Energy India₹25.56k7.1%
+₹75.4b		126.5%PE135.4x
ENRIN Siemens Energy India₹2.93k5.6%
+₹55.7b		n/aPE88.4x

Latest News

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Analysts have made a slight upward adjustment to their fair value estimate for Larsen & Toubro, lifting it from about ₹4,598.90 to ₹4,608.20. This reflects small tweaks to assumptions around discount rate, margin profile and forward P/E multiples.
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Indian Railway Catering & Tourism
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IRCTC: Second Interim Dividend Will Support Constructive Forward Share Price View

The analyst price target for Indian Railway Catering & Tourism has been revised from ₹800.25 to ₹768.50, with analysts citing updated assumptions on revenue growth, profit margin and future P/E as the key drivers of this change. What's in the News A board meeting is scheduled on February 12, 2026 to review and approve unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, following Audit Committee review (Key Developments).
500480
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7D
3.5%
1Y
80.2%

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1Y
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POLYCAB: Future Returns Will Reflect Governance Resolutions And Fine-Tuned Outlook

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522275
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GE Vernova T&D India
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5.4%
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SIEMENS
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Siemens
7D
6.6%
1Y
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POWERINDIA
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Hitachi Energy India
7D
7.1%
1Y
126.5%

POWERINDIA: Fair Value View Will Rely On Sustained Margins And Earnings

Analysts have lifted their fair value estimate for Hitachi Energy India to ₹23,197.69 from ₹22,232.15, citing slightly lower assumed discount rates, a modestly higher profit margin outlook, and a reduced future P/E multiple as key drivers of the updated price target. What's in the News A board meeting is scheduled for February 5, 2026, to consider and approve the unaudited financial results for the quarter ended December 31, 2025 (Key Developments).
517569
₹5,080.40
KEI Industries
7D
6.8%
1Y
64.5%

517569: Future Cash Flow Assumptions Will Support Bullish Upside

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ENRIN
₹2,930.90
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7D
5.6%
1Y
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