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Indian (NIFTY) Aerospace & Defense Industry Analysis

UpdatedFeb 20, 2026
DataAggregated Company Financials
Companies24
  • 7D-1.4%
  • 3M-5.8%
  • 1Y37.0%
  • YTD-0.4%

Over the last 7 days, the Aerospace & Defense industry has risen 1.7%, driven by gains from Data Patterns (India) of 4.7%. This takes the industry's 12 month performance to a gain of 42%. 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
Fri, 20 Feb 2026₹8.4t₹889.7b₹193.5b55.9x43.2x9.4x
Sun, 18 Jan 2026₹8.5t₹856.3b₹185.6b54.4x45.5x9.9x
Tue, 16 Dec 2025₹8.2t₹856.3b₹185.6b56.7x44.1x9.6x
Thu, 13 Nov 2025₹8.9t₹830.5b₹183.2b54.6x48.6x10.7x
Sat, 11 Oct 2025₹8.9t₹810.7b₹178.9b54.9x49.9x11x
Mon, 08 Sep 2025₹8.2t₹810.0b₹178.7b55.7x45.6x10.1x
Wed, 06 Aug 2025₹8.5t₹800.1b₹178.7b62.1x47.5x10.6x
Fri, 04 Jul 2025₹9.5t₹796.6b₹179.9b66.7x52.6x11.9x
Sun, 01 Jun 2025₹9.3t₹808.2b₹179.8b65.2x51.7x11.5x
Tue, 29 Apr 2025₹7.6t₹782.3b₹181.1b61.4x41.7x9.7x
Thu, 27 Mar 2025₹7.1t₹782.3b₹181.1b51.6x39.1x9x
Sat, 22 Feb 2025₹5.8t₹774.4b₹178.9b48.6x32.5x7.5x
Mon, 20 Jan 2025₹6.8t₹735.4b₹170.9b72.2x39.9x9.3x
Wed, 18 Dec 2024₹7.5t₹731.1b₹170.2b64.5x43.9x10.2x
Fri, 15 Nov 2024₹6.4t₹729.3b₹167.7b54.3x38x8.7x
Sun, 13 Oct 2024₹6.9t₹709.4b₹161.9b71x42.8x9.8x
Tue, 10 Sep 2024₹7.1t₹709.0b₹161.8b77.5x43.6x10x
Thu, 08 Aug 2024₹7.5t₹701.3b₹152.0b85.1x49.2x10.7x
Sat, 06 Jul 2024₹8.6t₹693.9b₹149.5b92.7x57.5x12.4x
Mon, 03 Jun 2024₹7.2t₹707.5b₹148.1b56.5x48.6x10.2x
Wed, 01 May 2024₹5.6t₹631.5b₹124.9b61.5x45x8.9x
Fri, 29 Mar 2024₹4.8t₹631.5b₹124.9b57.5x38.1x7.5x
Sun, 25 Feb 2024₹4.7t₹631.5b₹124.9b68.7x37.6x7.4x
Tue, 23 Jan 2024₹4.6t₹618.6b₹117.5b68.2x39.2x7.4x
Thu, 21 Dec 2023₹4.0t₹618.7b₹117.6b59x34.4x6.5x
Sat, 18 Nov 2023₹3.5t₹623.7b₹118.6b46.1x29.3x5.6x
Mon, 16 Oct 2023₹3.3t₹606.8b₹113.3b45.6x29x5.4x
Wed, 13 Sep 2023₹3.3t₹606.8b₹113.3b50x28.8x5.4x
Fri, 11 Aug 2023₹3.1t₹602.6b₹110.2b43x28.1x5.1x
Sun, 09 Jul 2023₹2.9t₹602.5b₹108.5b38.9x27.1x4.9x
Tue, 06 Jun 2023₹2.6t₹600.0b₹108.0b30.8x23.8x4.3x
Thu, 04 May 2023₹2.3t₹586.1b₹107.9b28.2x21.6x4x
Sat, 01 Apr 2023₹2.1t₹586.1b₹107.8b25.9x19.7x3.6x
Mon, 27 Feb 2023₹2.0t₹586.1b₹107.8b25.3x18.8x3.5x
Price to Earnings Ratio

18.8x


Total Market Cap: ₹2.0tTotal Earnings: ₹107.8bTotal Revenue: ₹586.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Aerospace & Defense Industry Price to Earnings3Y Average 38.9x202420252026
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 44.2x which is higher than its 3-year average PE of 38.9x.
  • The 3-year average PS ratio of 8.3x is lower than the industry's current PS ratio of 9.6x.
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 Market-1.63%
Industrials-1.00%
Aerospace & Defense-1.38%
Aerospace and Defense-1.38%
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)₹2.91k4.7%
+₹7.3b		84.9%PE66x
KRISHNADEF Krishna Defence and Allied Industries₹1.16k17.4%
+₹2.4b		87.5%PE45.4x
DCXINDIA DCX Systems₹179.247.6%
+₹1.4b		-33.5%PE150.2x
BDL Bharat Dynamics₹1.27k0.2%
+₹1.1b		23.3%PE80.6x
544684 Digilogic Systems₹93.506.0%
+₹152.3m		n/aPE34.9x

Latest News

PARAS
₹630.25
Paras Defence and Space Technologies
7D
-3.3%
1Y
39.8%
KRISHNADEF
₹1,157.40
Krishna Defence and Allied Industries
7D
17.4%
1Y
87.5%
DATAPATTNS
₹2,914.00
Data Patterns (India)
7D
4.7%
1Y
84.9%

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).
APOLLO
₹231.40
Apollo Micro Systems
7D
-3.9%
1Y
95.6%
HAL
₹4,132.60
Hindustan Aeronautics
7D
-0.6%
1Y
21.2%

Hindustan Aeronautics (NSE:HAL) Is Paying Out A Larger Dividend Than Last Year

Feb 15
Hindustan Aeronautics (NSE:HAL) Is Paying Out A Larger Dividend Than Last Year
UNIMECH
₹901.50
Unimech Aerospace and Manufacturing
7D
-11.9%
1Y
-13.7%
DCXINDIA
₹179.24
DCX Systems
7D
7.6%
1Y
-33.5%
539661
₹104.05
Ace Men Engg Works
7D
5.1%
1Y
21.0%
533339
₹1,326.65
Zen Technologies
7D
-1.6%
1Y
19.1%

533339: Defence Orders And Growing Patent Portfolio Will Drive Future Upside

Narrative Update on Zen Technologies Analysts have maintained their fair value estimate for Zen Technologies at ₹1,654, incorporating updated assumptions that reflect slightly different views on the discount rate, revenue growth, profit margin and future P/E. What's in the News Appointed Hari Haran Chalat as Chief Financial Officer, effective January 31, 2026, after serving as Senior General Manager overseeing finance, accounting, acquisitions and post merger integration at Zen Technologies (company announcement).
BDL
₹1,274.60
Bharat Dynamics
7D
0.2%
1Y
23.3%

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

Feb 08
Bharat Dynamics (NSE:BDL) Is Increasing Its Dividend To ₹4.50
500049
₹435.55
Bharat Electronics
7D
-1.9%
1Y
67.4%

500049: Future Order Wins Will Support Bullish Long Term Outlook

Analysts have lifted their price target for Bharat Electronics to ₹565 from ₹547.77, citing updated assumptions for the discount rate, revenue growth, profit margin, and future P/E, which together support a higher fair value estimate. What's in the News Bharat Electronics has secured additional orders worth INR 6.1b since the last disclosure on 8 January 2026, including communication equipment, medical electronics, thermal imagers, jammers, spares and services (company announcement).
MAZDOCK
₹2,343.30
Mazagon Dock Shipbuilders
7D
-3.0%
1Y
8.8%

MAZDOCK: Upcoming Navy MoU Benefits Will Support Future Upside Potential

Analysts now set their price target for Mazagon Dock Shipbuilders at ₹3,489, down from ₹3,858. This reflects updated assumptions around discount rate, revenue growth, profit margin and future P/E.
504176
₹561.45
High Energy Batteries (India)
7D
0.1%
1Y
18.3%
GRSE
₹2,448.40
Garden Reach Shipbuilders & Engineers
7D
-1.9%
1Y
81.7%

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

Jan 31
Do Garden Reach Shipbuilders & Engineers' (NSE:GRSE) Earnings Warrant Your Attention?
544684
₹93.50
Digilogic Systems
7D
6.0%
1Y
n/a