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Indian (NIFTY) Electronic Manufacturing Services Industry Analysis

UpdatedApr 15, 2026
DataAggregated Company Financials
Companies12
  • 7D5.8%
  • 3M1.3%
  • 1Y-18.7%
  • YTDn/a

In the last week, the Electronic Manufacturing Services industry is up 5.8%, with all of the companies up. However, the industry is down 19% over the past year. As for the next few years, earnings are expected to grow by 28% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 15 Apr 2026₹797.0b₹196.1b₹13.1b58.9x60.7x4.1x
Fri, 13 Mar 2026₹696.2b₹189.5b₹12.7b54.9x55x3.7x
Sun, 08 Feb 2026₹752.1b₹190.2b₹12.7b60.3x59.2x4x
Tue, 06 Jan 2026₹763.7b₹180.2b₹11.7b67.2x65.1x4.2x
Thu, 04 Dec 2025₹853.7b₹180.5b₹11.7b67.2x72.7x4.7x
Sat, 01 Nov 2025₹962.3b₹170.8b₹10.7b75.8x90x5.6x
Mon, 29 Sep 2025₹971.3b₹171.5b₹10.5b77.1x92.3x5.7x
Wed, 27 Aug 2025₹875.9b₹171.5b₹10.5b69.9x83.6x5.1x
Fri, 25 Jul 2025₹901.7b₹167.3b₹10.3b79x87.8x5.4x
Sun, 22 Jun 2025₹836.1b₹168.1b₹10.1b66.8x82.6x5x
Tue, 20 May 2025₹871.5b₹163.9b₹9.6b66.2x90.7x5.3x
Thu, 17 Apr 2025₹875.1b₹155.2b₹8.3b61.2x105.6x5.6x
Sat, 15 Mar 2025₹717.1b₹155.2b₹8.3b53.2x86.5x4.6x
Mon, 10 Feb 2025₹763.3b₹155.2b₹8.3b59.9x92.1x4.9x
Wed, 08 Jan 2025₹1.0t₹144.6b₹7.4b75.5x136.9x7x
Fri, 06 Dec 2024₹885.2b₹144.6b₹7.4b79.8x119.1x6.1x
Sun, 03 Nov 2024₹771.9b₹138.8b₹7.0b81.6x109.8x5.6x
Tue, 01 Oct 2024₹731.2b₹133.5b₹6.3b79.9x115.4x5.5x
Thu, 29 Aug 2024₹674.0b₹133.5b₹6.3b86.7x106.4x5x
Sat, 27 Jul 2024₹618.8b₹124.7b₹6.2b90.2x99.4x5x
Mon, 24 Jun 2024₹560.8b₹117.6b₹5.6b94.9x99.7x4.8x
Wed, 22 May 2024₹470.0b₹114.2b₹5.2b88.2x90.9x4.1x
Fri, 19 Apr 2024₹413.9b₹105.1b₹4.9b84.6x84.6x3.9x
Sun, 17 Mar 2024₹411.8b₹103.1b₹5.1b73.5x81.3x4x
Tue, 13 Feb 2024₹432.1b₹101.7b₹5.0b70.2x86.2x4.2x
Thu, 11 Jan 2024₹424.6b₹98.6b₹4.7b82.6x91.2x4.3x
Sat, 09 Dec 2023₹407.5b₹98.6b₹4.7b69.1x87.6x4.1x
Mon, 06 Nov 2023₹380.7b₹97.9b₹4.8b70.3x79.8x3.9x
Wed, 04 Oct 2023₹393.7b₹91.0b₹4.5b77.5x87.3x4.3x
Fri, 01 Sep 2023₹346.6b₹91.0b₹4.5b72.2x76.9x3.8x
Sun, 30 Jul 2023₹311.2b₹86.4b₹4.1b69.5x76.2x3.6x
Tue, 27 Jun 2023₹245.6b₹77.6b₹3.8b55.8x65x3.2x
Thu, 25 May 2023₹213.2b₹74.2b₹3.9b49.7x55.1x2.9x
Sat, 22 Apr 2023₹174.3b₹69.3b₹3.4b52.3x51.5x2.5x
Price to Earnings Ratio

51.5x


Total Market Cap: ₹174.3bTotal Earnings: ₹3.4bTotal Revenue: ₹69.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Electronic Manufacturing Services Industry Price to Earnings3Y Average 86.8x202420252026
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 60.7x which is lower than its 3-year average PE of 86.8x.
  • The 3-year average PS ratio of 4.6x is higher than the industry's current PS ratio of 4.1x.
Past Earnings Growth
  • The earnings for companies in the Electronic Manufacturing Services industry have grown 57% 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 Electronic Manufacturing Services compare with similar industries?

IN Market4.48%
Tech-0.42%
Electronic Equipment and Components6.88%
Electronic Manufacturing Services5.75%
Electronic Components9.03%
Electronic Equipment and Instruments7.80%
Technology Distributors7.31%
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
533581 PG Electroplast₹537.8511.5%
+₹15.9b		-44.0%PE55.4x
SYRMA Syrma SGS Technology₹895.056.0%
+₹9.7b		80.9%PE61.1x
KAYNES Kaynes Technology India₹4.02k2.7%
+₹7.1b		-29.2%PE69.3x
AVALON Avalon Technologies₹1.07k6.9%
+₹4.6b		29.0%PE74.2x
SEDEMAC SEDEMAC Mechatronics₹1.71k4.4%
+₹3.2b		n/aPE160.1x

Latest News

AIMTRON
₹971.65
Aimtron Electronics
7D
11.1%
1Y
92.2%
CYIENTDLM
₹325.50
Cyient DLM
7D
6.2%
1Y
-29.5%
533581
₹537.85
PG Electroplast
7D
11.5%
1Y
-44.0%

533581: Fiscal 2026 Guidance And Governance Steps Will Support Further Repricing Upside

Analysts have slightly reduced their price target for PG Electroplast to about ₹696 from roughly ₹706. This reflects updated views on the company’s fair value, discount rate, revenue growth and profit margin assumptions, while keeping the future P/E broadly aligned with prior estimates.
AVALON
₹1,067.05
Avalon Technologies
7D
6.9%
1Y
29.0%

AVALON: Elevated P/E And Leaner Margins Will Likely Cap Future Returns

Analysts have inched their fair value estimate for Avalon Technologies higher, with the indicative price target moving from about ₹650 to roughly ₹677, citing updated assumptions around revenue growth, margins and P/E expectations. Analyst Commentary Bearish analysts are using the latest price target revision to highlight what they see as a tighter risk reward setup for Avalon Technologies, even as the fair value estimate edges higher to about ₹677.
SYRMA
₹895.05
Syrma SGS Technology
7D
6.0%
1Y
80.9%

SYRMA: Expanded IoT Manufacturing Partnership Will Support Long Term Upside Potential

Analysts have adjusted their price target on Syrma SGS Technology from about ₹924 to roughly ₹961, citing updated assumptions for the discount rate, revenue growth, profit margin, and future P/E that feed into their valuation models. What's in the News Quectel Wireless Solutions expanded its partnership with Syrma SGS Technology to include manufacturing of IoT antennas in India, building on their existing work together on IoT modules at Syrma's Manesar facility for telecom, automotive and Digital India projects (Key Developments).
WEL
₹93.36
Wonder Electricals
7D
19.1%
1Y
-46.2%
KAYNES
₹4,016.80
Kaynes Technology India
7D
2.7%
1Y
-29.2%

KAYNES: Satellite Partnership Will Support Quantum Secure Connectivity And Future Upside

Analysts have maintained their ₹6,000 price target on Kaynes Technology India, citing updated assumptions that combine slightly adjusted discount and revenue growth inputs with lower profit margin expectations and a higher future P/E of 77.90x. What's in the News Upcoming board meeting on Mar 10, 2026, to consider the resignation of Company Secretary and Compliance Officer Mr. Anuj Mehtha and the proposed appointment of Ms. Sudhasri Addepalli to the same role (company filing).
SEDEMAC
₹1,705.80
SEDEMAC Mechatronics
7D
4.4%
1Y
n/a