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Indian (NIFTY) Aerospace & Defense Industry Analysis

UpdatedFeb 24, 2026
DataAggregated Company Financials
Companies24
  • 7D-1.6%
  • 3M-4.0%
  • 1Y37.8%
  • YTD-1.1%

Over the last 7 days, the Aerospace & Defense industry has dropped 1.6%, driven by Hindustan Aeronautics declining 4.7%. In contrast, Data Patterns (India) has gained 8.2%. This takes the industry's 12 month performance to a gain of 38%. Earnings are forecast to grow by 19% annually.

Industry Valuation and Performance

Has the Indian Aerospace & Defense Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 24 Feb 2026₹8.3t₹889.7b₹193.5b54.4x42.8x9.3x
Thu, 22 Jan 2026₹8.1t₹856.3b₹185.6b50x43.9x9.5x
Sat, 20 Dec 2025₹8.2t₹856.3b₹185.6b55.8x44x9.5x
Mon, 17 Nov 2025₹9.0t₹839.6b₹184.9b54.8x48.6x10.7x
Wed, 15 Oct 2025₹8.7t₹810.7b₹178.9b53.4x48.7x10.7x
Fri, 12 Sep 2025₹8.5t₹810.7b₹178.9b54.3x47.3x10.4x
Sun, 10 Aug 2025₹8.2t₹803.9b₹179.0b58.2x46x10.2x
Tue, 08 Jul 2025₹9.5t₹796.6b₹179.9b74.8x52.6x11.9x
Thu, 05 Jun 2025₹9.4t₹796.2b₹179.8b71.8x52x11.8x
Sat, 03 May 2025₹7.8t₹782.8b₹181.2b58.4x42.8x9.9x
Mon, 31 Mar 2025₹7.2t₹782.3b₹181.1b52.4x39.7x9.2x
Wed, 26 Feb 2025₹5.8t₹774.4b₹178.9b50.3x32.3x7.5x
Fri, 24 Jan 2025₹6.6t₹735.3b₹170.8b68x38.8x9x
Sun, 22 Dec 2024₹6.9t₹733.3b₹170.3b63.6x40.4x9.4x
Tue, 19 Nov 2024₹6.4t₹730.6b₹170.0b57.7x37.4x8.7x
Thu, 17 Oct 2024₹7.1t₹709.4b₹161.9b69.7x43.6x9.9x
Sat, 14 Sep 2024₹7.1t₹709.0b₹161.8b79.2x43.9x10x
Mon, 12 Aug 2024₹7.5t₹702.9b₹151.9b86.2x49.4x10.7x
Wed, 10 Jul 2024₹8.6t₹693.9b₹149.5b88.1x57.4x12.4x
Fri, 07 Jun 2024₹6.7t₹693.8b₹149.5b54.3x45x9.7x
Sun, 05 May 2024₹5.6t₹631.5b₹124.9b61.6x44.9x8.9x
Tue, 02 Apr 2024₹4.9t₹631.5b₹124.9b59.7x39.5x7.8x
Thu, 29 Feb 2024₹4.7t₹631.5b₹124.9b66.8x37.9x7.5x
Sat, 27 Jan 2024₹4.5t₹620.0b₹118.1b64.2x38x7.2x
Mon, 25 Dec 2023₹4.2t₹618.7b₹117.6b58.9x35.5x6.7x
Wed, 22 Nov 2023₹3.5t₹625.5b₹118.9b45.2x29.1x5.5x
Fri, 20 Oct 2023₹3.3t₹612.2b₹114.4b47.3x28.7x5.4x
Sun, 17 Sep 2023₹3.3t₹606.8b₹113.3b53.3x29.3x5.5x
Tue, 15 Aug 2023₹3.2t₹606.8b₹113.3b46.5x27.8x5.2x
Thu, 13 Jul 2023₹3.1t₹602.5b₹108.5b42.3x28.7x5.2x
Sat, 10 Jun 2023₹2.8t₹600.1b₹108.1b30.8x25.6x4.6x
Mon, 08 May 2023₹2.3t₹586.1b₹107.9b28.2x21.5x4x
Wed, 05 Apr 2023₹2.1t₹586.1b₹107.8b25.6x19.6x3.6x
Fri, 03 Mar 2023₹2.1t₹586.1b₹107.8b26.5x19.5x3.6x
Price to Earnings Ratio

19.5x


Total Market Cap: ₹2.1tTotal Earnings: ₹107.8bTotal Revenue: ₹586.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Aerospace & Defense Industry Price to Earnings3Y Average 39x202420252026
Current Industry PE
  • Investors are optimistic on the Indian Aerospace & Defense industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 42.8x which is higher than its 3-year average PE of 39.0x.
  • The 3-year average PS ratio of 8.3x is lower than the industry's current PS ratio of 9.3x.
Past Earnings Growth
  • The earnings for companies in the Aerospace & Defense industry have grown 22% per year over the last three years.
  • Revenues for these companies have grown 15% 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 industry?

IN Market0.13%
Industrials1.14%
Aerospace & Defense-1.58%
Aerospace and Defense-1.58%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
DATAPATTNS Data Patterns (India)₹3.06k8.2%
+₹13.0b		86.3%PE69.4x
500049 Bharat Electronics₹439.700.4%
+₹12.1b		71.5%PE53.9x
BDL Bharat Dynamics₹1.28k1.7%
+₹8.0b		26.1%PE80.6x
GRSE Garden Reach Shipbuilders & Engineers₹2.45k0.6%
+₹1.8b		82.8%PE40.7x
KRISHNADEF Krishna Defence and Allied Industries₹1.04k2.5%
+₹351.5m		70.4%PE40.7x

Latest News

533339
₹1,322.15
Zen Technologies
7D
-0.6%
1Y
20.9%

533339: Defence Orders And Training Patents Will Support Future Upside

Analysts have held Zen Technologies' fair value estimate steady at ₹1,654, while slightly revising assumptions such as the future P/E to 35.06x. This reflects minor tweaks to growth, margin and discount rate inputs rather than a change in overall conviction.
HAL
₹4,025.40
Hindustan Aeronautics
7D
-4.7%
1Y
20.1%

HAL: Upcoming Dividend Payout Will Support Confidence In Future Returns

Analysts have trimmed their price target on Hindustan Aeronautics from about ₹5,560 to roughly ₹5,260, citing updated assumptions around a slightly higher discount rate, a revised revenue growth outlook, a different profit margin profile, and a lower future P/E multiple. What's in the News The board declared a first interim dividend of ₹35 per equity share with a face value of ₹5 each, equal to about 7x the face value, for the 2025-26 financial year.
500049
₹439.70
Bharat Electronics
7D
0.4%
1Y
71.5%

500049: Defence Order Wins And Dividend Plans Will Not Justify Current Pricing

Analysts have lifted their price target on Bharat Electronics by roughly ₹40 to ₹353, citing updated assumptions that include a revised fair value estimate, a slightly lower discount rate, a recalibration of expected revenue growth, a higher profit margin outlook, and a modest change in the future P/E multiple. What's in the News Bharat Electronics has scheduled a board meeting on February 27, 2026, to consider, among other items, the declaration of an interim dividend for FY 2025-26 (company filing).
MAZDOCK
₹2,280.80
Mazagon Dock Shipbuilders
7D
-3.3%
1Y
6.0%

MAZDOCK: Naval Maintenance MoU Will Support Long-Term Defence Order Upside

Analysts have kept their fair value estimate for Mazagon Dock Shipbuilders steady at ₹2,975, adjusting their view mainly through a slightly lower discount rate, modestly softer revenue growth assumptions, a marginally higher profit margin outlook, and a small tweak to future P/E expectations. What's in the News The board approved a 2nd interim dividend of ₹7.5 per equity share of face value ₹5 for FY 2025-26, with payment scheduled on or before 07 March 2026 (company filing).
PARAS
₹637.40
Paras Defence and Space Technologies
7D
0.6%
1Y
42.2%
KRISHNADEF
₹1,037.00
Krishna Defence and Allied Industries
7D
2.5%
1Y
70.4%
DATAPATTNS
₹3,061.40
Data Patterns (India)
7D
8.2%
1Y
86.3%

DATAPATTNS: Stable Fair Value And Upcoming Results Will Guide Future Multiple

Analysts have nudged their fair value estimate for Data Patterns (India) to ₹3,040.68 from ₹3,016.52, reflecting updated assumptions for discount rate, revenue growth, profit margin and forward P/E that keep the overall valuation framework broadly consistent while fine tuning its inputs. What's in the News Board meeting scheduled for February 5, 2026 to consider and approve the unaudited financial results for the quarter ended December 31, 2025 (Key Developments).
522229
₹265.45
Taneja Aerospace and Aviation
7D
-4.0%
1Y
-10.9%
UNIMECH
₹908.10
Unimech Aerospace and Manufacturing
7D
0.3%
1Y
-10.4%
523606
₹982.30
Sika Interplant Systems
7D
-3.6%
1Y
90.6%
BDL
₹1,275.60
Bharat Dynamics
7D
1.7%
1Y
26.1%

Bharat Dynamics (NSE:BDL) Is Increasing Its Dividend To ₹4.50

Feb 08
Bharat Dynamics (NSE:BDL) Is Increasing Its Dividend To ₹4.50
TECHERA
₹195.75
TechEra Engineering (India)
7D
-10.1%
1Y
27.3%
ROSSTECH
₹683.90
Rossell Techsys
7D
-1.8%
1Y
139.4%
GRSE
₹2,446.10
Garden Reach Shipbuilders & Engineers
7D
0.6%
1Y
82.8%

Do Garden Reach Shipbuilders & Engineers' (NSE:GRSE) Earnings Warrant Your Attention?

Jan 31
Do Garden Reach Shipbuilders & Engineers' (NSE:GRSE) Earnings Warrant Your Attention?
AEQUS
₹139.22
Aequs
7D
-0.5%
1Y
n/a
543920
₹542.00
CFF Fluid Control
7D
2.6%
1Y
19.0%