Narrative Update • Sep 08
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Indian (NIFTY) Machinery Industry Analysis
UpdatedSep 16, 2026
DataAggregated Company Financials
Companies252
- 7D-4.7%
- 3M-1.4%
- 1Y9.3%
- YTD8.0%
Over the last 7 days, the Machinery industry has dropped 4.7%, driven by Tata Motors declining 6.3%. On the other hand Raymond is actually up 16%. In the past year, the industry has gained 9.3%. As for the next few years, earnings are expected to grow by 22% per annum.
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 |
|---|---|---|---|---|---|---|
| Wed, 16 Sep 2026 | ₹12.7t | ₹3.9t | ₹304.8b | 29.7x | 41.6x | 3.2x |
| Fri, 14 Aug 2026 | ₹12.8t | ₹3.8t | ₹286.5b | 28.4x | 44.5x | 3.4x |
| Sun, 12 Jul 2026 | ₹12.5t | ₹3.7t | ₹283.8b | 28.1x | 43.9x | 3.4x |
| Tue, 09 Jun 2026 | ₹11.6t | ₹3.7t | ₹284.7b | 25.8x | 40.6x | 3.1x |
| Thu, 07 May 2026 | ₹11.9t | ₹2.7t | ₹246.9b | 27.3x | 48x | 4.4x |
| Sat, 04 Apr 2026 | ₹10.2t | ₹2.7t | ₹248.5b | 23x | 41.1x | 3.8x |
| Mon, 02 Mar 2026 | ₹11.6t | ₹2.7t | ₹247.3b | 25.2x | 46.8x | 4.3x |
| Wed, 28 Jan 2026 | ₹10.5t | ₹2.6t | ₹241.7b | 25.4x | 43.4x | 4x |
| Fri, 26 Dec 2025 | ₹11.0t | ₹2.6t | ₹240.6b | 28.6x | 45.7x | 4.2x |
| Sun, 23 Nov 2025 | ₹10.9t | ₹2.7t | ₹251.0b | 30.3x | 43.5x | 4x |
| Tue, 21 Oct 2025 | ₹9.8t | ₹2.7t | ₹248.8b | 31x | 39.5x | 3.7x |
| Thu, 18 Sep 2025 | ₹10.4t | ₹2.7t | ₹248.8b | 33.3x | 41.6x | 3.9x |
| Sat, 16 Aug 2025 | ₹9.7t | ₹2.7t | ₹248.7b | 30.1x | 38.9x | 3.6x |
| Mon, 14 Jul 2025 | ₹10.1t | ₹2.6t | ₹238.3b | 34.3x | 42.4x | 3.8x |
| Wed, 11 Jun 2025 | ₹10.0t | ₹2.6t | ₹235.0b | 33.6x | 42.4x | 3.8x |
| Fri, 09 May 2025 | ₹8.4t | ₹2.5t | ₹230.1b | 29.7x | 36.4x | 3.3x |
| Sun, 06 Apr 2025 | ₹8.2t | ₹2.5t | ₹226.1b | 31x | 36.3x | 3.3x |
| Tue, 04 Mar 2025 | ₹7.6t | ₹2.5t | ₹226.1b | 27.9x | 33.6x | 3x |
| Thu, 30 Jan 2025 | ₹8.7t | ₹2.4t | ₹223.4b | 35.1x | 38.8x | 3.6x |
| Sat, 28 Dec 2024 | ₹9.6t | ₹2.4t | ₹223.7b | 38.7x | 43x | 4x |
| Mon, 25 Nov 2024 | ₹9.4t | ₹2.4t | ₹223.2b | 35.8x | 42x | 3.9x |
| Wed, 23 Oct 2024 | ₹9.7t | ₹2.4t | ₹212.1b | 37.5x | 45.7x | 4.1x |
| Fri, 20 Sep 2024 | ₹10.1t | ₹2.3t | ₹210.6b | 39.1x | 48.2x | 4.3x |
| Sun, 18 Aug 2024 | ₹10.3t | ₹2.3t | ₹210.2b | 38.3x | 48.9x | 4.4x |
| Tue, 16 Jul 2024 | ₹10.9t | ₹2.3t | ₹203.8b | 41.3x | 53.4x | 4.7x |
| Thu, 13 Jun 2024 | ₹10.1t | ₹2.3t | ₹203.7b | 37.5x | 49.5x | 4.4x |
| Sat, 11 May 2024 | ₹8.8t | ₹2.3t | ₹192.1b | 38.6x | 45.9x | 3.9x |
| Mon, 08 Apr 2024 | ₹8.2t | ₹2.2t | ₹190.2b | 36.9x | 43x | 3.7x |
| Wed, 06 Mar 2024 | ₹7.4t | ₹2.2t | ₹188.6b | 34.3x | 39.4x | 3.4x |
| Fri, 02 Feb 2024 | ₹7.4t | ₹2.2t | ₹179.1b | 35x | 41.1x | 3.4x |
| Sun, 31 Dec 2023 | ₹7.0t | ₹2.2t | ₹176.5b | 33.9x | 39.5x | 3.2x |
| Tue, 28 Nov 2023 | ₹6.4t | ₹2.1t | ₹172.5b | 31.7x | 37x | 3x |
| Thu, 26 Oct 2023 | ₹6.0t | ₹2.1t | ₹162.0b | 30.2x | 37.3x | 2.9x |
| Sat, 23 Sep 2023 | ₹6.2t | ₹2.1t | ₹161.3b | 30x | 38.5x | 3x |
Price to Earnings Ratio
38.5x
Current Industry PE
- Investors are relatively neutral on the Indian Machinery industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 42.7x.
- The 3-year average PS ratio of 3.7x is higher than the industry's current PS ratio of 3.2x.
Past Earnings Growth
- The earnings for companies in the Machinery industry have grown 24% per year over the last three years.
- Revenues for these companies have grown 24% 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 | -2.91% | |
| Industrials | -4.08% | |
| Machinery | -4.66% | |
| Industrial Machinery | -3.78% | |
| Agricultural Machinery | -4.77% | |
| Construction Machinery and Vehicles | -5.55% | |
Industry PE
- Investors are most optimistic about the Industrial Machinery industry, which is trading close to its 3-year average PE ratio of 44.8x.
- Analysts are expecting annual earnings growth of 24.0%, which is higher than its past year's earnings growth of 8.7% per year.
- Investors are most pessimistic about the Agricultural Machinery industry, which is trading below its 3-year average of 33.1x.
Forecasted Growth
- Analysts are most optimistic on the Industrial Machinery industry, expecting annual earnings growth of 24% over the next 5 years.
- This is better than its past earnings growth rate of 8.7% per year.
- In contrast, the Agricultural Machinery industry is expected to see its earnings grow by 9.7% 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 | |
|---|---|---|---|---|---|
| RAYMOND Raymond | ₹995.95 | 16.1% +₹9.2b | 58.5% | PE178.8x | |
| SETL Standard Engineering Technology | ₹444.75 | 10.0% +₹8.0b | 127.6% | PE103.7x | |
| 533107 Swan Defence and Heavy Industries | ₹2.60k | 4.8% +₹6.3b | 350.8% | PS43.9x | |
| 522215 HLE Glascoat | ₹397.10 | 18.3% +₹4.3b | -22.4% | PE77.1x | |
| 522113 Timken India | ₹3.15k | 1.5% +₹3.6b | 3.4% | PE55.6x |
