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Indian (NIFTY) Electronic Manufacturing Services Industry Analysis

UpdatedDec 31, 2025
DataAggregated Company Financials
Companies11
  • 7D-3.2%
  • 3M-24.0%
  • 1Y-32.9%
  • YTDn/a

Over the last 7 days, the Electronic Manufacturing Services industry has dropped 2.9%, driven by a pullback from Kaynes Technology India of 5.0%. In contrast, Wonder Electricals has gained 5.1%. Overall the industry is down 32% in 12 months. Looking forward, earnings are forecast to grow by 30% annually.

Industry Valuation and Performance

Has the Indian Electronic Manufacturing Services Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 31 Dec 2025₹726.4b₹180.2b₹11.7b63x61.9x4x
Fri, 28 Nov 2025₹894.2b₹180.5b₹11.7b69.6x76.2x5x
Sun, 26 Oct 2025₹947.2b₹170.8b₹10.7b74.4x88.6x5.5x
Tue, 23 Sep 2025₹976.5b₹171.5b₹10.5b78.4x92.8x5.7x
Thu, 21 Aug 2025₹871.6b₹171.5b₹10.5b69.2x83.2x5.1x
Sat, 19 Jul 2025₹917.5b₹169.5b₹10.0b79.6x92.1x5.4x
Mon, 16 Jun 2025₹815.4b₹168.1b₹10.1b64.1x80.6x4.9x
Wed, 14 May 2025₹900.3b₹165.8b₹9.3b65x96.8x5.4x
Fri, 11 Apr 2025₹769.4b₹155.2b₹8.3b56.6x92.8x5x
Sun, 09 Mar 2025₹755.1b₹155.2b₹8.3b56.9x91.1x4.9x
Tue, 04 Feb 2025₹765.3b₹149.9b₹7.9b63.8x96.6x5.1x
Thu, 02 Jan 2025₹1.1t₹144.6b₹7.4b79.4x142.1x7.3x
Sat, 30 Nov 2024₹860.4b₹144.6b₹7.4b82.5x115.8x5.9x
Mon, 28 Oct 2024₹707.1b₹136.7b₹6.7b68.7x104.8x5.2x
Wed, 25 Sep 2024₹750.2b₹133.5b₹6.3b81.5x118.4x5.6x
Fri, 23 Aug 2024₹698.3b₹133.5b₹6.3b85x110.2x5.2x
Sun, 21 Jul 2024₹567.2b₹117.9b₹5.7b94x99.9x4.8x
Tue, 18 Jun 2024₹535.0b₹117.6b₹5.6b89.2x95.1x4.5x
Thu, 16 May 2024₹406.8b₹111.2b₹4.9b79.6x82.7x3.7x
Sat, 13 Apr 2024₹411.8b₹105.1b₹4.9b81.1x84.2x3.9x
Mon, 11 Mar 2024₹454.0b₹103.1b₹5.1b78.8x89.6x4.4x
Wed, 07 Feb 2024₹441.0b₹101.7b₹5.0b73.7x88x4.3x
Fri, 05 Jan 2024₹429.2b₹98.6b₹4.7b85.2x92.2x4.4x
Sun, 03 Dec 2023₹405.1b₹98.6b₹4.7b68.6x87x4.1x
Tue, 31 Oct 2023₹398.9b₹94.5b₹4.7b76.2x85.6x4.2x
Thu, 28 Sep 2023₹378.5b₹91.0b₹4.5b72.8x83.9x4.2x
Sat, 26 Aug 2023₹337.6b₹91.0b₹4.5b62.6x74.9x3.7x
Mon, 24 Jul 2023₹312.8b₹85.9b₹4.1b69.6x76.4x3.6x
Wed, 21 Jun 2023₹252.7b₹77.6b₹3.8b55.3x66.9x3.3x
Fri, 19 May 2023₹191.4b₹70.7b₹3.6b55.5x53.2x2.7x
Sun, 16 Apr 2023₹150.0b₹60.9b₹2.8b55.8x54.5x2.5x
Tue, 14 Mar 2023₹145.0b₹60.9b₹2.8b50.1x52.7x2.4x
Thu, 09 Feb 2023₹138.2b₹59.4b₹2.7b45.6x52x2.3x
Sat, 07 Jan 2023₹131.9b₹54.5b₹2.3b48.8x58.4x2.4x
Price to Earnings Ratio

58.4x


Total Market Cap: ₹131.9bTotal Earnings: ₹2.3bTotal Revenue: ₹54.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Electronic Manufacturing Services Industry Price to Earnings3Y Average 86.4x20242025
Current Industry PE
  • Investors are pessimistic on the Indian Electronic Manufacturing Services industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 62.5x which is lower than its 3-year average PE of 86.4x.
  • The industry is trading close to its 3-year average PS ratio of 4.5x.
Past Earnings Growth
  • The earnings for companies in the Electronic Manufacturing Services industry have grown 73% per year over the last three years.
  • Revenues for these companies have grown 49% 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 Electronic Manufacturing Services compare with similar industries?

IN Market-0.90%
Tech-2.66%
Electronic Equipment and Components-2.65%
Electronic Manufacturing Services-3.20%
Technology Distributors-1.71%
Electronic Equipment and Instruments-2.39%
Electronic Components-3.30%
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
WEL Wonder Electricals₹148.295.1%
+₹970.2m		-11.4%PE109.9x
SAHASRA Sahasra Electronic Solutions₹282.300.9%
+₹63.7m		-46.5%PE244.5x

Latest News

AVALON
₹845.35
Avalon Technologies
7D
-3.1%
1Y
-12.3%

AVALON: Margin Expansion And Board Review Are Expected To Drive Upside

Avalon Technologies' analyst price target has been raised from $1,130 to $1,330 as analysts factor in slightly faster revenue growth, improving profit margins, and a modestly lower forward P/E multiple. What's in the News Avalon Technologies has scheduled a board meeting on November 5, 2025, at 18:00 Indian Standard Time to review and approve unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, along with the statutory auditor's limited review report (Key Developments).
SYRMA
₹722.70
Syrma SGS Technology
7D
-1.5%
1Y
22.5%

SYRMA: Planned Solar Acquisition May Drive Future Margin Expansion

Analysts have raised their price target for Syrma SGS Technology from ₹950 to about ₹1,162 per share, citing stronger expectations for revenue growth, improving profit margins, and a higher future valuation multiple. What's in the News Board meeting scheduled on October 23, 2025, to review and approve definitive agreements for acquiring 100 percent equity stake in KSOLARE Energy Private Limited, marking a planned entry into the solar energy solutions space (company filing) Board meeting set for November 10, 2025, to consider and approve unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, which may provide updated guidance on growth and margins (company filing) Valuation Changes Fair Value: Increased from ₹950.0 to approximately ₹1,161.5 per share, reflecting a substantial upward revision to the intrinsic value estimate.
KAYNES
₹3,933.00
Kaynes Technology India
7D
-5.0%
1Y
-47.0%

KAYNES: Leadership Transition And Margin Expansion Will Support Stronger Future Performance

Analysts have raised their price target on Kaynes Technology India from ₹7,660 to ₹8,200, citing expectations of slightly faster revenue growth, stronger profit margins, and a lower future P E multiple that supports improved valuation potential. What's in the News The board will meet on September 24, 2025 to consider changing the designation of Managing Director Ramesh Kunhikannan to Executive Vice Chairman and appointing Dr. Muthukumar Narayanaswamy as Additional Director and Managing Director (company filing).
533581
₹561.90
PG Electroplast
7D
-2.4%
1Y
-42.7%

533581: Fiscal 2026 Guidance Will Support Strong Future Trading Upside

Narrative Update on PG Electroplast Analysts have maintained their price target for PG Electroplast at ₹694.5, as only minimal refinements in the discount rate and long-term valuation assumptions resulted in no meaningful change in fair value. What's in the News Issued earnings guidance for fiscal 2026, projecting consolidated revenues of INR 57,000 million to 58,000 million, implying 17% to 19% growth over FY25.
WEL
₹148.29
Wonder Electricals
7D
5.1%
1Y
-11.4%

We Think Wonder Electricals (NSE:WEL) Can Stay On Top Of Its Debt

Dec 19
We Think Wonder Electricals (NSE:WEL) Can Stay On Top Of Its Debt
OSELDEVICE
₹535.25
Osel Devices
7D
-6.7%
1Y
81.7%
AIMTRON
₹792.30
Aimtron Electronics
7D
-6.0%
1Y
41.5%
VINYAS
₹1,117.20
Vinyas Innovative Technologies
7D
-4.1%
1Y
23.4%

Concerns Surrounding Vinyas Innovative Technologies' (NSE:VINYAS) Performance

Nov 16
Concerns Surrounding Vinyas Innovative Technologies' (NSE:VINYAS) Performance
SAHASRA
₹282.30
Sahasra Electronic Solutions
7D
0.9%
1Y
-46.5%
CYIENTDLM
₹411.80
Cyient DLM
7D
-3.0%
1Y
-38.5%