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Indian (NIFTY) Aerospace and Defense Industry Analysis

UpdatedJul 06, 2026
DataAggregated Company Financials
Companies25
  • 7D2.3%
  • 3M12.6%
  • 1Y-8.3%
  • YTDn/a

In the last week, the Aerospace and Defense industry is up 2.3%, with Bharat Electronics up 3.2%. In contrast, the industry has lost 8.3% in the last 12 months. Earnings are forecast to grow by 18% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 07 Jul 2026₹9.0t₹901.7b₹197.5b56.2x45.4x9.9x
Thu, 04 Jun 2026₹8.5t₹907.2b₹197.5b49x43.1x9.4x
Sat, 02 May 2026₹8.9t₹897.3b₹194.2b59.3x45.9x9.9x
Mon, 30 Mar 2026₹7.6t₹889.6b₹193.5b49.6x39.1x8.5x
Wed, 25 Feb 2026₹8.2t₹889.7b₹193.5b53.2x42.3x9.2x
Fri, 23 Jan 2026₹8.4t₹856.3b₹185.6b51.4x45x9.8x
Sun, 21 Dec 2025₹8.2t₹856.3b₹185.6b55.8x44x9.5x
Tue, 18 Nov 2025₹9.0t₹839.9b₹185.0b54.5x48.7x10.7x
Thu, 16 Oct 2025₹8.9t₹810.7b₹178.9b54.2x49.5x10.9x
Sat, 13 Sep 2025₹8.8t₹810.7b₹178.9b55.1x49.2x10.9x
Mon, 11 Aug 2025₹8.2t₹803.9b₹179.0b58.2x46x10.2x
Wed, 09 Jul 2025₹9.5t₹796.6b₹179.9b75.5x52.8x11.9x
Fri, 06 Jun 2025₹9.5t₹796.2b₹179.8b72.1x52.8x11.9x
Sun, 04 May 2025₹7.8t₹782.8b₹181.2b58.4x42.8x9.9x
Tue, 01 Apr 2025₹7.2t₹782.3b₹181.1b52.4x39.7x9.2x
Thu, 27 Feb 2025₹5.8t₹774.4b₹178.9b50.3x32.3x7.5x
Sat, 25 Jan 2025₹6.5t₹735.3b₹170.8b65.5x38.1x8.8x
Mon, 23 Dec 2024₹6.9t₹733.3b₹170.3b63.6x40.4x9.4x
Wed, 20 Nov 2024₹6.4t₹730.8b₹170.0b54.8x37.6x8.8x
Fri, 18 Oct 2024₹6.9t₹709.4b₹161.9b67.3x42.7x9.7x
Sun, 15 Sep 2024₹7.1t₹709.0b₹161.8b79.2x43.9x10x
Tue, 13 Aug 2024₹7.5t₹703.2b₹151.9b83.9x49.1x10.6x
Thu, 11 Jul 2024₹8.5t₹693.9b₹149.5b86x56.7x12.2x
Sat, 08 Jun 2024₹6.9t₹693.9b₹149.5b56.4x46x9.9x
Mon, 06 May 2024₹5.6t₹631.4b₹124.9b61.6x44.9x8.9x
Wed, 03 Apr 2024₹5.1t₹631.5b₹124.9b61x40.9x8.1x
Fri, 01 Mar 2024₹4.7t₹631.5b₹124.9b65.5x37.8x7.5x
Sun, 28 Jan 2024₹4.5t₹620.0b₹118.1b64.2x38x7.2x
Tue, 26 Dec 2023₹4.2t₹618.7b₹117.6b58.9x35.5x6.7x
Thu, 23 Nov 2023₹3.4t₹625.5b₹118.9b44.1x28.8x5.5x
Sat, 21 Oct 2023₹3.2t₹612.2b₹114.4b47.6x28.1x5.3x
Mon, 18 Sep 2023₹3.3t₹606.8b₹113.3b53.3x29.3x5.5x
Wed, 16 Aug 2023₹3.2t₹606.8b₹113.3b46.5x27.8x5.2x
Fri, 14 Jul 2023₹3.1t₹602.5b₹108.5b42.5x28.6x5.1x
Price to Earnings Ratio

28.6x


Total Market Cap: ₹3.1tTotal Earnings: ₹108.5bTotal Revenue: ₹602.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Aerospace and Defense Industry Price to Earnings3Y Average 41.7x202420252026
Current Industry PE
  • Investors are optimistic on the Indian Aerospace and Defense industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 45.4x which is higher than its 3-year average PE of 41.7x.
  • The 3-year average PS ratio of 9.0x is lower than the industry's current PS ratio of 9.9x.
Past Earnings Growth
  • The earnings for companies in the Aerospace and Defense industry have grown 22% per year over the last three years.
  • Revenues for these companies have grown 14% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Indian Aerospace and Defense compare with similar industries?

IN Market0.96%
Industrials-0.66%
Aerospace & Defense2.31%
Aerospace and Defense2.31%
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₹425.503.2%
+₹96.9b		2.0%PE51.3x
HAL Hindustan Aeronautics₹4.44k2.3%
+₹65.4b		-11.4%PE32.6x
MAZDOCK Mazagon Dock Shipbuilders₹2.57k5.2%
+₹51.3b		-21.5%PE40.2x
BDL Bharat Dynamics₹1.41k5.6%
+₹27.3b		-27.5%PE122.9x
PARAS Paras Defence and Space Technologies₹1.36k14.8%
+₹14.1b		53.5%PE124.3x

Latest News

530929
₹693.20
RRP Defense
7D
-1.0%
1Y
269.7%
HAL
₹4,440.60
Hindustan Aeronautics
7D
2.3%
1Y
-11.4%
500049
₹425.50
Bharat Electronics
7D
3.2%
1Y
2.0%
Narrative Update • Jun 30

500049: Growing Defence Orders Will Support Bullish Long Term Outlook

The analyst fair value estimate for Bharat Electronics has been adjusted from ₹565 to ₹585, with analysts citing updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations. What’s in the News for Bharat Electronics Bharat Electronics reported additional orders worth ₹1,081 crore since the last disclosure on May 25, 2026, covering communication equipment, radars, CBRN protection systems, seekers, avionics, upgrades, spares and services.
AEQUS
₹231.89
Aequs
7D
-3.2%
1Y
n/a
Narrative Update • Jun 26

AEQUS: Lofty Future P/E Will Likely Outrun Compressed Profit Margins

Analysts have revised their fair value estimate for Aequs to ₹202.5 from ₹160, reflecting updated assumptions around the discount rate, revenue growth, profit margin, and future P/E for the company. What's in the News Aequs Limited has been added to the S&P Global BMI Index, indicating inclusion in a broader global benchmark universe.
TECHERA
₹159.40
TechEra Engineering (India)
7D
-0.3%
1Y
-20.3%
533339
₹1,852.25
Zen Technologies
7D
6.3%
1Y
-4.4%
Narrative Update • Jun 25

533339: Counter Drone Suite And Arms Licence Will Shape Balanced Outlook

Analysts have kept their fair value estimate for Zen Technologies steady at ₹1,726.67 per share, with only small adjustments to inputs such as the discount rate and assumed future P/E multiple contributing to this unchanged price target. What’s in the News for Zen Technologies Zen Technologies launched its Integrated Smart Border Suite, a 24x7 digital border security ecosystem aimed at addressing threats such as illegal infiltration, narco-terrorism, drone-based smuggling and hybrid warfare across India’s high-risk border sectors.
DATAPATTNS
₹4,615.50
Data Patterns (India)
7D
3.2%
1Y
55.8%
Narrative Update • Jun 22

DATAPATTNS: Higher Growth Assumptions Will Eventually Reveal Downside Risk To Pricing

Analysts have lifted their fair value estimate for Data Patterns (India) from ₹3,070.89 to ₹3,523.00, citing updated assumptions on discount rate, revenue growth, profit margin and future P/E that together feed into a higher overall price target framework. What's in the News Data Patterns (India) has scheduled a Board meeting on June 25, 2026, with details yet to be disclosed.
PARAS
₹1,358.40
Paras Defence and Space Technologies
7D
14.8%
1Y
53.5%
MAZDOCK
₹2,573.90
Mazagon Dock Shipbuilders
7D
5.2%
1Y
-21.5%
Narrative Update • Jun 16

MAZDOCK: Strong Execution On New Naval Deliveries Will Support Long-Term Upside

The analyst fair value estimate for Mazagon Dock Shipbuilders has been adjusted slightly higher from ₹2,801.44 to ₹2,831.30 as analysts factor in updated assumptions on revenue growth, profit margins and future P/E multiples. What’s in the News for Mazagon Dock Shipbuilders Mazagon Dock Shipbuilders held a board meeting on April 30, 2026 to consider and approve audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026, and to consider other business matters.
GRSE
₹2,765.70
Garden Reach Shipbuilders & Engineers
7D
3.3%
1Y
-4.4%
Narrative Update • Jun 16

GRSE: Export Order Expansion And Dividend Decision Will Support Long Term Upside

Analysts have raised their price target for Garden Reach Shipbuilders & Engineers from ₹3,075.25 to ₹3,146.00, reflecting updated views on revenue growth, profit margins, the discount rate, and a lower assumed future P/E multiple for the stock. What's in the News Garden Reach Shipbuilders & Engineers laid the keel for the fourth vessel under its Multi Purpose Vessel project for a German company, progressing on what is described as its largest commercial shipbuilding export order.
BDL
₹1,409.60
Bharat Dynamics
7D
5.6%
1Y
-27.5%