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Indian (NIFTY) Construction Machinery and Vehicles Industry Analysis

UpdatedMay 17, 2026
DataAggregated Company Financials
Companies38
  • 7D-7.1%
  • 3M-6.7%
  • 1Y23.9%
  • YTDn/a

Over the last 7 days, the Construction Machinery and Vehicles industry has dropped 7.1%, driven by Tata Motors declining 12%. This takes the industry's 12 month performance to a gain of 24%. Earnings are forecast to grow by 22% annually.

Industry Valuation and Performance

Has the Indian Construction Machinery and Vehicles Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 18 May 2026₹5.8t₹2.1t₹138.5b27.3x41.7x2.8x
Wed, 15 Apr 2026₹5.9t₹1.2t₹108.9b25.3x53.9x4.8x
Fri, 13 Mar 2026₹5.8t₹1.2t₹109.2b23.9x53.5x4.8x
Sun, 08 Feb 2026₹6.0t₹1.2t₹109.6b27.8x54.6x5x
Tue, 06 Jan 2026₹5.9t₹1.2t₹106.4b30.5x55.8x5x
Thu, 04 Dec 2025₹5.5t₹1.2t₹106.1b29.3x51.4x4.6x
Sat, 01 Nov 2025₹4.1t₹1.1t₹101.3b33.1x40.8x3.6x
Mon, 29 Sep 2025₹4.0t₹1.1t₹101.2b32.5x39.9x3.5x
Wed, 27 Aug 2025₹3.9t₹1.1t₹101.0b32.9x38.7x3.4x
Fri, 25 Jul 2025₹3.9t₹1.1t₹98.5b37.4x39.3x3.4x
Sun, 22 Jun 2025₹3.7t₹1.1t₹97.5b33.9x37.5x3.3x
Tue, 20 May 2025₹3.4t₹1.1t₹94.0b31.4x36x3.1x
Thu, 17 Apr 2025₹3.0t₹1.1t₹90.7b30.2x33x2.8x
Sat, 15 Mar 2025₹2.7t₹1.1t₹90.7b27.4x30.1x2.6x
Mon, 10 Feb 2025₹2.9t₹1.0t₹87.1b35.1x33x2.8x
Wed, 08 Jan 2025₹3.3t₹1.0t₹88.4b39.4x36.8x3.2x
Fri, 06 Dec 2024₹3.5t₹1.0t₹88.4b42.5x39x3.4x
Sun, 03 Nov 2024₹3.4t₹1.0t₹85.0b42.1x39.7x3.3x
Tue, 01 Oct 2024₹3.6t₹1.0t₹83.9b46x43.2x3.6x
Thu, 29 Aug 2024₹3.8t₹994.0b₹83.4b45.5x45.7x3.8x
Sat, 27 Jul 2024₹3.9t₹979.8b₹80.3b44.8x48.9x4x
Mon, 24 Jun 2024₹3.8t₹966.8b₹80.5b39.6x47.5x4x
Wed, 22 May 2024₹3.4t₹947.3b₹71.0b41.8x47.9x3.6x
Fri, 19 Apr 2024₹2.8t₹931.8b₹69.8b41.5x39.7x3x
Sun, 17 Mar 2024₹2.4t₹931.3b₹69.7b35.6x35x2.6x
Tue, 13 Feb 2024₹2.4t₹927.7b₹68.8b37.6x34.9x2.6x
Thu, 11 Jan 2024₹2.2t₹884.9b₹60.0b43.1x36.2x2.5x
Sat, 09 Dec 2023₹2.0t₹884.7b₹60.0b38x33.8x2.3x
Mon, 06 Nov 2023₹1.8t₹855.8b₹53.5b34.6x34x2.1x
Wed, 04 Oct 2023₹1.9t₹839.6b₹51.8b36.9x35.7x2.2x
Fri, 01 Sep 2023₹1.9t₹839.6b₹51.8b36.5x36.3x2.2x
Sun, 30 Jul 2023₹1.8t₹817.6b₹47.2b35.4x37.2x2.1x
Tue, 27 Jun 2023₹1.6t₹796.0b₹41.1b33.1x37.9x2x
Thu, 25 May 2023₹1.3t₹779.1b₹35.5b32x37.8x1.7x
Price to Earnings Ratio

37.8x


Total Market Cap: ₹1.3tTotal Earnings: ₹35.5bTotal Revenue: ₹779.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Construction Machinery and Vehicles Industry Price to Earnings3Y Average 40.8x202420252026
Current Industry PE
  • Investors are relatively neutral on the Indian Construction Machinery and Heavy Trucks 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 40.8x.
  • The 3-year average PS ratio of 3.3x is higher than the industry's current PS ratio of 2.8x.
Past Earnings Growth
  • The earnings for companies in the Construction Machinery and Heavy Trucks industry have grown 68% per year over the last three years.
  • Revenues for these companies have grown 41% 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 Construction Machinery and Vehicles compare with similar industries?

IN Market-2.79%
Industrials-3.55%
Machinery-4.95%
Construction Machinery and Vehicles-7.08%
Industrial Machinery-2.45%
Agricultural Machinery-5.08%
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
533107 Swan Defence and Heavy Industries₹1.91k2.8%
+₹2.7b		1,134.8%PS198.7x
TEXRAIL Texmaco Rail & Engineering₹116.231.1%
+₹512.6m		-28.8%PE24.2x
544616 Gallard Steel₹169.008.3%
+₹123.0m		n/aPE22.2x
544671 Apollo Techno Industries₹99.037.6%
+₹96.1m		n/aPE10.8x
EIMCOELECO Eimco Elecon (India)₹1.58k0.2%
+₹14.4m		-22.2%PE23.6x

Latest News

537669
₹306.00
Laxmipati Engineering Works
7D
0.3%
1Y
n/a
TITAGARH
₹763.30
Titagarh Rail Systems
7D
-9.1%
1Y
-16.4%
Narrative Update • May 16

TITAGARH: Wagon And Shipbuilding Expansion Will Shape Future Upside Potential

Analysts have kept their fair value estimate for Titagarh Rail Systems steady at ₹971.38 per share, with only marginal adjustments to inputs such as discount rate, revenue growth, profit margin and future P/E assumptions, reflecting a broadly unchanged view of the stock's longer term potential. What's in the News Titagarh Naval Systems, a wholly owned subsidiary, received in principle approval from the Directorate General of Shipping for a brownfield capacity expansion project at Falta under the Shipbuilding Development Scheme.
TMCV
₹377.95
Tata Motors
7D
-12.3%
1Y
n/a
New Narrative • May 16

Electrification And Recurring Revenue Streams Will Reshape This Commercial Vehicle Leader’s Future

Catalysts About Tata Motors Tata Motors focuses on commercial vehicles including trucks, buses and small commercial vehicles, with operations in India and select international markets. What are the underlying business or industry changes driving this perspective?
TEXRAIL
₹116.23
Texmaco Rail & Engineering
7D
1.1%
1Y
-28.8%
Narrative Update • May 15

TEXRAIL: New Rail Contracts And Joint Venture Will Support Future Upside

Analysts have raised their fair value estimate for Texmaco Rail & Engineering from ₹164 to ₹168, citing updated assumptions on the discount rate, revenue growth, profit margin, and future P/E that collectively support a slightly higher price target. What's in the News The company plans a board meeting on May 12, 2026 to consider audited standalone and consolidated results for the quarter and year ended March 31, 2026, and to consider recommending a dividend on equity shares, if any (Board Meeting).
544616
₹169.00
Gallard Steel
7D
8.3%
1Y
n/a
CRAFTSMAN
₹8,462.50
Craftsman Automation
7D
-5.8%
1Y
61.2%
COCHINSHIP
₹1,594.50
Cochin Shipyard
7D
-10.3%
1Y
-21.7%
JWL
₹275.15
Jupiter Wagons
7D
-7.9%
1Y
-34.8%
Narrative Update • May 03

JWL: Upcoming Results Meeting Will Affirm Bullish Long Term Earnings Outlook

Analysts have kept their price target for Jupiter Wagons broadly steady at around ₹376, reflecting only marginal tweaks to assumptions on discount rate, revenue growth, profit margin and future P/E, rather than a change in their overall view of the stock. What's in the News Board meeting scheduled on Feb 11, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025, along with the statutory auditors' report (Key Developments).
ASHOKLEY
₹153.13
Ashok Leyland
7D
-9.2%
1Y
29.0%
Narrative Update • May 02

ASHOKLEY: EV Battery Facility And Mobility Funding Plans Will Support Re Rating Potential

Analysts have trimmed the fair value estimate for Ashok Leyland to ₹197.79 from ₹202.27. This reflects slightly lower revenue growth assumptions, a marginally higher discount rate and a modest adjustment to the future P/E multiple, while profit margin expectations remain broadly steady.
531112
₹476.55
Balu Forge Industries
7D
-13.4%
1Y
-22.4%
EIMCOELECO
₹1,580.70
Eimco Elecon (India)
7D
0.2%
1Y
-22.2%
544671
₹99.03
Apollo Techno Industries
7D
7.6%
1Y
n/a
533107
₹1,914.55
Swan Defence and Heavy Industries
7D
2.8%
1Y
1,134.8%
500048
₹1,787.60
BEML
7D
-8.3%
1Y
-2.3%