Narrative Update • May 04
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Indian (NIFTY) Machinery Industry Analysis
UpdatedMay 07, 2026
DataAggregated Company Financials
Companies240
- 7D1.4%
- 3M6.2%
- 1Y26.2%
- YTD5.2%
The Machinery industry is up 1.4% in the last week, with Tata Motors up 5.9%. Meanwhile, KSB actually underperformed within the industry, shrinking 8.3% in the last week. This means that the industry has gained 26% over the past year. Earnings are forecast to grow by 20% annually.
Industry Valuation and Performance
Has the Indian Machinery Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 08 May 2026 | ₹11.9t | ₹2.7t | ₹246.9b | 27.3x | 48x | 4.4x |
| Sun, 05 Apr 2026 | ₹10.2t | ₹2.7t | ₹248.2b | 23x | 41.1x | 3.8x |
| Tue, 03 Mar 2026 | ₹11.6t | ₹2.7t | ₹247.3b | 25.2x | 46.8x | 4.3x |
| Thu, 29 Jan 2026 | ₹10.8t | ₹2.6t | ₹241.7b | 25.2x | 44.6x | 4.1x |
| Sat, 27 Dec 2025 | ₹11.0t | ₹2.6t | ₹240.6b | 28.8x | 45.6x | 4.2x |
| Mon, 24 Nov 2025 | ₹10.9t | ₹2.7t | ₹250.8b | 29.8x | 43.5x | 4x |
| Wed, 22 Oct 2025 | ₹9.9t | ₹2.7t | ₹248.8b | 31.2x | 40x | 3.7x |
| Fri, 19 Sep 2025 | ₹10.4t | ₹2.7t | ₹248.8b | 32.7x | 41.6x | 3.9x |
| Sun, 17 Aug 2025 | ₹9.7t | ₹2.7t | ₹248.8b | 30.2x | 38.9x | 3.6x |
| Tue, 15 Jul 2025 | ₹10.1t | ₹2.6t | ₹238.3b | 33.3x | 42.4x | 3.8x |
| Thu, 12 Jun 2025 | ₹9.9t | ₹2.6t | ₹235.0b | 33.3x | 42.2x | 3.8x |
| Sat, 10 May 2025 | ₹8.3t | ₹2.5t | ₹230.1b | 29.4x | 36.3x | 3.3x |
| Mon, 07 Apr 2025 | ₹8.2t | ₹2.5t | ₹226.1b | 31x | 36.3x | 3.3x |
| Wed, 05 Mar 2025 | ₹7.7t | ₹2.5t | ₹226.1b | 28.3x | 34.1x | 3.1x |
| Fri, 31 Jan 2025 | ₹8.7t | ₹2.4t | ₹222.8b | 35.3x | 39.2x | 3.6x |
| Sun, 29 Dec 2024 | ₹9.6t | ₹2.4t | ₹223.7b | 38.7x | 43x | 4x |
| Tue, 26 Nov 2024 | ₹9.6t | ₹2.4t | ₹223.2b | 37.5x | 43.2x | 4x |
| Thu, 24 Oct 2024 | ₹9.7t | ₹2.4t | ₹212.4b | 38x | 45.6x | 4.1x |
| Sat, 21 Sep 2024 | ₹10.3t | ₹2.3t | ₹210.6b | 39.6x | 49.1x | 4.4x |
| Mon, 19 Aug 2024 | ₹10.3t | ₹2.3t | ₹210.2b | 38.3x | 48.9x | 4.4x |
| Wed, 17 Jul 2024 | ₹10.9t | ₹2.3t | ₹203.9b | 41.9x | 53.4x | 4.7x |
| Fri, 14 Jun 2024 | ₹10.2t | ₹2.3t | ₹203.7b | 37.4x | 50.3x | 4.5x |
| Sun, 12 May 2024 | ₹8.8t | ₹2.3t | ₹192.9b | 38.1x | 45.7x | 3.9x |
| Tue, 09 Apr 2024 | ₹8.2t | ₹2.2t | ₹190.3b | 37x | 43x | 3.7x |
| Thu, 07 Mar 2024 | ₹7.3t | ₹2.2t | ₹188.6b | 33.3x | 38.8x | 3.3x |
| Sat, 03 Feb 2024 | ₹7.4t | ₹2.2t | ₹179.2b | 35.5x | 41.1x | 3.4x |
| Mon, 01 Jan 2024 | ₹7.0t | ₹2.2t | ₹176.5b | 33.9x | 39.5x | 3.2x |
| Wed, 29 Nov 2023 | ₹6.4t | ₹2.1t | ₹172.5b | 32.4x | 36.9x | 3x |
| Fri, 27 Oct 2023 | ₹6.0t | ₹2.1t | ₹162.0b | 29.6x | 37.1x | 2.9x |
| Sun, 24 Sep 2023 | ₹6.2t | ₹2.1t | ₹161.3b | 29.9x | 38.5x | 3x |
| Tue, 22 Aug 2023 | ₹6.0t | ₹2.1t | ₹161.4b | 30.2x | 37.3x | 2.9x |
| Thu, 20 Jul 2023 | ₹5.8t | ₹2.0t | ₹144.6b | 29.2x | 40.1x | 2.9x |
| Sat, 17 Jun 2023 | ₹5.5t | ₹2.0t | ₹144.1b | 27.6x | 38x | 2.8x |
| Mon, 15 May 2023 | ₹4.9t | ₹1.9t | ₹131.4b | 27.5x | 37.3x | 2.5x |
Price to Earnings Ratio
37.3x
Current Industry PE
- Investors are optimistic on the Indian Machinery industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 48.0x which is higher than its 3-year average PE of 42.1x.
- The 3-year average PS ratio of 3.7x is lower than the industry's current PS ratio of 4.4x.
Past Earnings Growth
- The earnings for companies in the Machinery industry have grown 23% per year over the last three years.
- Revenues for these companies have grown 12% 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 | 0.86% | |
| Industrials | 1.67% | |
| Machinery | 1.42% | |
| Construction Machinery and Vehicles | 1.60% | |
| Industrial Machinery | 1.28% | |
| Agricultural Machinery | 0.65% | |
Industry PE
- Investors are most optimistic about the Construction Machinery and Vehicles industry which is trading above its 3-year average PE ratio of 40.8x.
- Analysts expect its future annual earnings growth (18.6%) to be largely in line with prior year's earnings growth.
- Investors are most pessimistic about the Agricultural Machinery industry, which is trading below its 3-year average of 34.3x.
Forecasted Growth
- Analysts are most optimistic on the Industrial Machinery industry, expecting annual earnings growth of 22% over the next 5 years.
- This is better than its past earnings growth rate of 7.6% per year.
- In contrast, the Agricultural Machinery industry is expected to see its earnings grow by 11% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| TMCV Tata Motors | ₹434.05 | 5.9% +₹88.9b | n/a | n/a | |
| ASHOKLEY Ashok Leyland | ₹170.78 | 5.4% +₹51.0b | 55.1% | PE30.3x | |
| 500480 Cummins India | ₹5.40k | 2.5% +₹37.0b | 95.1% | PE66.8x | |
| CRAFTSMAN Craftsman Automation | ₹8.64k | 12.3% +₹22.6b | 88.7% | PE61.6x | |
| COCHINSHIP Cochin Shipyard | ₹1.81k | 4.7% +₹21.4b | 25.7% | PE65.6x |