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Indian (NIFTY) Industrials Sector Analysis

UpdatedJun 06, 2026
DataAggregated Company Financials
Companies1129
  • 7D-0.6%
  • 3M11.1%
  • 1Y4.7%
  • YTD8.6%

Over the last 7 days, the Industrials industry has remained flat, although notably Adani Enterprises gained 3.7%. As for the the longer term, the industry is up 4.7% over the past 12 months. Looking forward, earnings are forecast to grow by 21% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 06 Jun 2026₹67.3t₹20.8t₹1.7t22.9x38.8x3.2x
Mon, 04 May 2026₹65.4t₹19.5t₹1.7t23x38.9x3.4x
Wed, 01 Apr 2026₹53.8t₹19.3t₹1.7t18.2x31.5x2.8x
Fri, 27 Feb 2026₹62.3t₹19.2t₹1.7t21.3x36.6x3.2x
Sun, 25 Jan 2026₹55.6t₹18.7t₹1.6t21.4x33.9x3x
Tue, 23 Dec 2025₹60.3t₹18.6t₹1.7t24.7x36.5x3.2x
Thu, 20 Nov 2025₹62.0t₹18.6t₹1.6t25.9x39.4x3.3x
Sat, 18 Oct 2025₹60.3t₹18.0t₹1.5t27.7x39x3.3x
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
Price to Earnings Ratio

34.5x


Total Market Cap: ₹30.4tTotal Earnings: ₹879.0bTotal Revenue: ₹12.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Industrials Sector Price to Earnings3Y Average 40.5x202420252026
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 40.5x.
  • The industry is trading close to its 3-year average PS ratio of 3.3x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 25% 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 Market-0.83%
Industrials-0.65%
Trade Distributors2.69%
Commercial Services1.60%
Marine and Shipping1.27%
Infrastructure1.02%
Logistics0.15%
Building0.052%
Airlines0%0
Aerospace & Defense-0.52%
Machinery-0.52%
Transportation-1.43%
Construction-1.51%
Industrials-1.77%
Professional Services-1.82%
Electrical-1.91%
Industry PE
  • Investors are most optimistic about the Electrical industry, which is trading close to its 3-year average PE ratio of 64.0x.
    • Analysts expect its future annual earnings growth (22.1%) to be largely in line with prior year's earnings growth.
  • 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 15.2x.
Forecasted Growth
  • Analysts are most optimistic on the Marine and Shipping industry, expecting annual earnings growth of 54% over the next 5 years.
  • This is better than its past earnings growth rate of 38% per year.
  • In contrast, the Infrastructure industry is expected to see its earnings grow by 15% 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
512599 Adani Enterprises₹3.05k3.7%
+₹140.8b		20.2%PE43x
ADANIPORTS Adani Ports and Special Economic Zone₹1.82k1.1%
+₹45.2b		24.0%PE32.8x
POLYCAB Polycab India₹9.70k2.3%
+₹33.3b		58.8%PE54.6x
CGPOWER CG Power and Industrial Solutions₹937.852.2%
+₹32.1b		37.6%PE122.6x
APARINDS APAR Industries₹13.88k5.8%
+₹30.5b		71.2%PE57.1x

Latest News

HAL
₹4,216.90
Hindustan Aeronautics
7D
-2.0%
1Y
-15.5%
Narrative Update • Jun 05

HAL: New Leadership And Defence Orders Will Support Future Share Returns

Narrative Update on Hindustan Aeronautics Analysts have made a marginal downward tweak to Hindustan Aeronautics' fair value estimate, from ₹5,161.05 to ₹5,157.46. This reflects updated assumptions around a slightly higher discount rate, lower revenue growth expectations, higher profit margins and a somewhat lower future P/E multiple.
ADANIPORTS
₹1,824.20
Adani Ports and Special Economic Zone
7D
1.1%
1Y
24.0%
512599
₹3,047.85
Adani Enterprises
7D
3.7%
1Y
20.2%
ASHOKLEY
₹145.29
Ashok Leyland
7D
-6.5%
1Y
20.1%
Analysis Article • Jun 05

Ashok Leyland's (NSE:ASHOKLEY) Earnings Offer More Than Meets The Eye

The stock was sluggish on the back of Ashok Leyland Limited's ( NSE:ASHOKLEY ) recent earnings report. Along with the...
POLYCAB
₹9,699.00
Polycab India
7D
2.3%
1Y
58.8%
Narrative Update • Jun 03

POLYCAB: Future Returns Will Reflect Dividend Commitment And Refined Earnings Outlook

Analysts have lifted their price target for Polycab India from ₹8,587 to ₹9,305, citing updated assumptions around revenue growth, discount rate, profit margins and future P/E that together point to a higher assessed fair value for the stock. What's in the News The board has proposed a dividend of ₹47 per share, described as 470% of face value, for the year ended March 31, 2026.
SIEMENS
₹3,700.80
Siemens
7D
-3.7%
1Y
12.2%
Analysis Article • Jun 03

Siemens' (NSE:SIEMENS) Weak Earnings May Only Reveal A Part Of The Whole Picture

The market rallied behind Siemens Limited's ( NSE:SIEMENS ) stock, leading do a rise in the share price after its...
POWERINDIA
₹36,870.00
Hitachi Energy India
7D
-4.1%
1Y
102.5%
Narrative Update • Jun 02

POWERINDIA: Elevated Margin Assumptions Will Test Sustainability Of Current Market Optimism

Analysts have lifted their price target on Hitachi Energy India from ₹23,871.87 to ₹30,967.59, citing updated assumptions that now pair a fair value of ₹30,967.59 with a 16.6% discount rate, a 33.9% revenue growth outlook, a 14.6% profit margin and a future P/E of 75.27. What's in the News Hitachi Energy India announced an annual dividend of ₹8.00 per share, payable on September 27, 2026, with an ex date and record date of August 21, 2026.
APARINDS
₹13,878.00
APAR Industries
7D
5.8%
1Y
71.2%
Narrative Update • Jun 02

APARINDS: Future Board Decisions On Dividend And Capital Allocation Will Test P E

Analysts now place APAR Industries' fair value at ₹13,254, up from ₹10,773. They cite updated assumptions that include slightly higher profit margin expectations and a higher future P/E multiple, partially offset by a modest tweak to revenue growth and discount rate inputs.
CGPOWER
₹937.85
CG Power and Industrial Solutions
7D
2.2%
1Y
37.6%
Narrative Update • Jun 01

CGPOWER: Revised Forecasts And Upcoming Results Date Will Shape Return Potential

Analysts have revised their price target for CG Power and Industrial Solutions from ₹708.50 to about ₹848.18, citing refreshed assumptions around revenue growth, profit margins, the discount rate, and future P/E levels. What's in the News Board meeting scheduled for May 6, 2026 to consider and approve audited financial results on a standalone basis for the year and quarter ended March 31, 2026.
TMCV
₹369.15
Tata Motors
7D
-2.7%
1Y
n/a
New Narrative • Jun 01

Noncyclical Revenue Shift And Export Volumes Will Shape Future Earnings Profile

Catalysts About Tata Motors Tata Motors focuses on commercial vehicles, including trucks, buses, small commercial vehicles and related services in India and select international markets. What are the underlying business or industry changes driving this perspective?
RRKABEL
₹2,223.40
R R Kabel
7D
8.1%
1Y
57.3%
Narrative Update • Jun 01

RRKABEL: Upcoming Board Results And Dividend Will Support Bullish Outlook

Analysts have raised their price target on R R Kabel from ₹2,200.00 to about ₹2,579.65, reflecting updated assumptions regarding revenue growth, profit margins and future P/E multiples. What's in the News A board meeting is scheduled on 30 April 2026 to consider audited standalone and consolidated financial results for the quarter and year ended 31 March 2026, along with related auditor reports (company filing).
INDIGO
₹4,481.30
InterGlobe Aviation
7D
1.7%
1Y
-18.2%
GMRAIRPORT
₹102.03
GMR Airports
7D
1.7%
1Y
18.3%
500510
₹3,953.95
Larsen & Toubro
7D
-3.0%
1Y
8.2%
Narrative Update • May 25

500510: New Hydrocarbon And Defence Orders Will Support Future Prospects

Larsen & Toubro's analyst fair value estimate has been adjusted slightly higher from about ₹4,493.17 to roughly ₹4,493.81, as analysts refresh their assumptions on the discount rate, revenue growth, profit margins, and future P/E for the stock. What's in the News L&T entered a collaboration with Exail to offer an Unmanned Mine Counter Measure Suite for the Indian Navy's planned 12 Mine Counter Measure Vessels, with L&T as prime contractor and Exail as technology partner.
ENRIN
₹3,647.90
Siemens Energy India
7D
-5.8%
1Y
n/a
500103
₹387.00
Bharat Heavy Electricals
7D
-7.1%
1Y
51.4%