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Indian (NIFTY) Aerospace & Defense Industry Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies24
  • 7D-2.5%
  • 3M-6.3%
  • 1Y44.5%
  • YTD-1.8%

Over the last 7 days, the Aerospace & Defense industry has dropped 2.5%, driven by Hindustan Aeronautics declining 1.8%. This takes the industry's 12 month performance to a gain of 44%. As for the next few years, earnings are expected to grow by 19% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 03 Mar 2026₹8.2t₹889.7b₹193.5b54x42.6x9.3x
Thu, 29 Jan 2026₹9.0t₹857.4b₹185.7b54.3x48.3x10.5x
Sat, 27 Dec 2025₹8.4t₹856.3b₹185.6b55.5x45.3x9.8x
Mon, 24 Nov 2025₹8.8t₹846.1b₹186.1b58x47x10.3x
Wed, 22 Oct 2025₹9.0t₹810.7b₹178.9b55.5x50.1x11x
Fri, 19 Sep 2025₹9.0t₹810.7b₹178.9b58.3x50.5x11.1x
Sun, 17 Aug 2025₹8.4t₹810.0b₹178.7b55.3x47x10.4x
Tue, 15 Jul 2025₹9.1t₹796.6b₹179.9b72.3x50.8x11.5x
Thu, 12 Jun 2025₹9.3t₹796.2b₹179.8b70.2x51.8x11.7x
Sat, 10 May 2025₹7.8t₹782.7b₹181.2b59.8x43x9.9x
Mon, 07 Apr 2025₹7.0t₹782.3b₹181.1b52.9x38.9x9x
Wed, 05 Mar 2025₹5.9t₹782.3b₹181.1b44.4x32.8x7.6x
Fri, 31 Jan 2025₹6.5t₹734.5b₹170.4b64.4x38.4x8.9x
Sun, 29 Dec 2024₹6.9t₹733.3b₹170.3b64.6x40.5x9.4x
Tue, 26 Nov 2024₹6.7t₹730.7b₹170.0b56.8x39.3x9.2x
Thu, 24 Oct 2024₹6.5t₹709.4b₹161.9b60.9x40.3x9.2x
Sat, 21 Sep 2024₹6.8t₹709.0b₹161.8b74x41.9x9.6x
Mon, 19 Aug 2024₹7.5t₹709.0b₹161.8b82.1x46.2x10.6x
Wed, 17 Jul 2024₹8.3t₹693.9b₹149.5b87.8x55.8x12x
Fri, 14 Jun 2024₹7.0t₹693.9b₹149.5b64.1x47.1x10.2x
Sun, 12 May 2024₹5.5t₹631.4b₹124.9b59.3x43.7x8.6x
Tue, 09 Apr 2024₹5.2t₹631.5b₹124.9b61.1x41.7x8.3x
Thu, 07 Mar 2024₹4.8t₹631.5b₹124.9b61.1x38.8x7.7x
Sat, 03 Feb 2024₹4.5t₹620.4b₹120.7b64.6x37.1x7.2x
Mon, 01 Jan 2024₹4.4t₹618.7b₹117.6b58.9x37.1x7x
Wed, 29 Nov 2023₹3.6t₹625.8b₹118.9b46.4x30x5.7x
Fri, 27 Oct 2023₹3.1t₹612.2b₹114.4b45.6x26.7x5x
Sun, 24 Sep 2023₹3.3t₹606.8b₹113.3b50.2x28.8x5.4x
Tue, 22 Aug 2023₹3.1t₹606.8b₹113.3b49.5x27.5x5.1x
Thu, 20 Jul 2023₹3.1t₹602.5b₹108.5b40.8x28.6x5.1x
Sat, 17 Jun 2023₹2.9t₹600.6b₹108.1b33.9x26.8x4.8x
Mon, 15 May 2023₹2.3t₹612.2b₹105.1b28.4x22x3.8x
Wed, 12 Apr 2023₹2.2t₹586.1b₹107.8b26.5x20.3x3.7x
Fri, 10 Mar 2023₹2.1t₹586.1b₹107.8b25.6x19.9x3.7x
Price to Earnings Ratio

19.9x


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 39.1x202420252026
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 42.6x which is higher than its 3-year average PE of 39.1x.
  • 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 Market-0.79%
Industrials0.13%
Aerospace & Defense-2.50%
Aerospace and Defense-2.50%
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
500049 Bharat Electronics₹453.753.2%
+₹102.7b		76.3%PE55.6x
DATAPATTNS Data Patterns (India)₹3.20k4.7%
+₹8.0b		123.5%PE72.6x
PARAS Paras Defence and Space Technologies₹670.855.2%
+₹2.7b		60.7%PE73.6x
533339 Zen Technologies₹1.35k1.7%
+₹2.1b		29.4%PE46.2x
ROSSTECH Rossell Techsys₹723.105.7%
+₹1.5b		174.2%PE128.7x

Latest News

MAZDOCK
₹2,209.80
Mazagon Dock Shipbuilders
7D
-3.1%
1Y
2.6%
AEQUS
₹139.94
Aequs
7D
0.5%
1Y
n/a

Long-Term Supply Chain Shift To India Will Support Integrated Aerospace Cluster Potential

Catalysts About Aequs Aequs is a precision manufacturing company with vertically integrated clusters in India and facilities in France and the U.S., supplying complex components to global aerospace and consumer brands. What are the underlying business or industry changes driving this perspective?
533339
₹1,345.25
Zen Technologies
7D
1.7%
1Y
29.4%

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
₹3,951.60
Hindustan Aeronautics
7D
-1.8%
1Y
24.0%

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
₹453.75
Bharat Electronics
7D
3.2%
1Y
76.3%

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).
PARAS
₹670.85
Paras Defence and Space Technologies
7D
5.2%
1Y
60.7%
KRISHNADEF
₹1,126.10
Krishna Defence and Allied Industries
7D
8.6%
1Y
111.6%
DATAPATTNS
₹3,204.30
Data Patterns (India)
7D
4.7%
1Y
123.5%

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
₹214.02
Apollo Micro Systems
7D
-7.2%
1Y
94.2%
UNIMECH
₹860.65
Unimech Aerospace and Manufacturing
7D
-5.2%
1Y
-9.9%
523606
₹945.20
Sika Interplant Systems
7D
-3.8%
1Y
111.9%
C2C
₹337.90
C2C Advanced Systems
7D
-7.7%
1Y
-5.6%
BDL
₹1,268.00
Bharat Dynamics
7D
-0.6%
1Y
29.4%

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

Feb 08
Bharat Dynamics (NSE:BDL) Is Increasing Its Dividend To ₹4.50
ROSSTECH
₹723.10
Rossell Techsys
7D
5.7%
1Y
174.2%
GRSE
₹2,370.70
Garden Reach Shipbuilders & Engineers
7D
-3.1%
1Y
95.2%

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

Jan 31
Do Garden Reach Shipbuilders & Engineers' (NSE:GRSE) Earnings Warrant Your Attention?
IDEAFORGE
₹441.30
ideaForge Technology
7D
7.8%
1Y
27.5%