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Indian (NIFTY) Electronic Manufacturing Services Industry Analysis

UpdatedMar 24, 2026
DataAggregated Company Financials
Companies12
  • 7D-1.8%
  • 3M-12.4%
  • 1Y-22.4%
  • YTDn/a

Over the last 7 days, the Electronic Manufacturing Services industry has dropped 1.8%, driven by Kaynes Technology India declining 3.3%. The industry has fallen 22% in the last year. As for the next few years, earnings are expected to grow by 27% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 24 Mar 2026₹722.0b₹196.1b₹13.1b50.9x55x3.7x
Thu, 19 Feb 2026₹787.7b₹189.5b₹12.7b59.3x62.2x4.2x
Sat, 17 Jan 2026₹711.8b₹180.2b₹11.7b64x60.7x4x
Mon, 15 Dec 2025₹762.4b₹180.2b₹11.7b63.7x65x4.2x
Wed, 12 Nov 2025₹927.1b₹179.7b₹11.8b70.1x78.5x5.2x
Fri, 10 Oct 2025₹981.8b₹171.5b₹10.5b75.9x93.3x5.7x
Sun, 07 Sep 2025₹948.9b₹171.5b₹10.5b77x90.5x5.5x
Tue, 05 Aug 2025₹944.7b₹169.2b₹10.5b77.7x90.2x5.6x
Thu, 03 Jul 2025₹904.6b₹169.5b₹9.9b73.4x91x5.3x
Sat, 31 May 2025₹858.6b₹168.1b₹10.1b60.3x84.9x5.1x
Mon, 28 Apr 2025₹847.7b₹155.9b₹8.4b62.8x101.3x5.4x
Wed, 26 Mar 2025₹789.1b₹155.2b₹8.3b61.7x95.2x5.1x
Fri, 21 Feb 2025₹724.3b₹155.2b₹8.3b56.2x87.4x4.7x
Sun, 19 Jan 2025₹935.0b₹144.6b₹7.4b70.6x125.8x6.5x
Tue, 17 Dec 2024₹1.0t₹144.6b₹7.4b79.1x135.7x7x
Thu, 14 Nov 2024₹778.9b₹142.8b₹7.3b79.1x107.4x5.5x
Sat, 12 Oct 2024₹739.1b₹133.5b₹6.3b82.9x116.7x5.5x
Mon, 09 Sep 2024₹675.9b₹133.5b₹6.3b84.9x106.7x5.1x
Wed, 07 Aug 2024₹598.4b₹132.4b₹6.4b77.4x93.5x4.5x
Fri, 05 Jul 2024₹592.1b₹117.9b₹5.7b100.4x104.3x5x
Sun, 02 Jun 2024₹482.8b₹114.2b₹5.2b93.1x93.3x4.2x
Tue, 30 Apr 2024₹432.0b₹106.2b₹5.0b83.9x86.5x4.1x
Thu, 28 Mar 2024₹415.2b₹103.1b₹5.1b76.5x81.9x4x
Sat, 24 Feb 2024₹444.6b₹103.1b₹5.1b74x87.7x4.3x
Mon, 22 Jan 2024₹427.3b₹98.6b₹4.7b81.5x91.8x4.3x
Wed, 20 Dec 2023₹450.0b₹98.6b₹4.7b79.2x96.7x4.6x
Fri, 17 Nov 2023₹394.8b₹98.5b₹4.6b70.7x85.1x4x
Sun, 15 Oct 2023₹426.8b₹93.3b₹4.6b72.3x93.1x4.6x
Tue, 12 Sep 2023₹384.1b₹91.0b₹4.5b76x85.2x4.2x
Thu, 10 Aug 2023₹313.8b₹90.9b₹4.5b63.2x69.2x3.5x
Sat, 08 Jul 2023₹259.8b₹77.6b₹3.8b56.2x68.8x3.3x
Mon, 05 Jun 2023₹226.2b₹77.6b₹3.8b52.4x59.9x2.9x
Wed, 03 May 2023₹175.3b₹69.3b₹3.4b52.9x51.8x2.5x
Fri, 31 Mar 2023₹141.1b₹60.9b₹2.8b49.3x51.3x2.3x
Price to Earnings Ratio

51.3x


Total Market Cap: ₹141.1bTotal Earnings: ₹2.8bTotal Revenue: ₹60.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Electronic Manufacturing Services Industry Price to Earnings3Y Average 86.7x202420252026
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 55.0x which is lower than its 3-year average PE of 86.7x.
  • The 3-year average PS ratio of 4.6x is higher than the industry's current PS ratio of 3.7x.
Past Earnings Growth
  • The earnings for companies in the Electronic Manufacturing Services industry have grown 68% per year over the last three years.
  • Revenues for these companies have grown 48% 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-3.57%
Tech-0.15%
Electronic Equipment and Components-3.15%
Electronic Manufacturing Services-1.82%
Electronic Components1.07%
Electronic Equipment and Instruments-3.02%
Technology Distributors-8.30%
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
SYRMA Syrma SGS Technology₹790.903.3%
+₹4.9b		62.1%PE54x
AVALON Avalon Technologies₹949.405.4%
+₹3.2b		26.1%PE66x
AIMTRON Aimtron Electronics₹786.900.8%
+₹129.6m		90.3%PE46.2x
OSELDEVICE Osel Devices₹504.600.3%
+₹25.8m		96.3%PE29.9x
SEDEMAC SEDEMAC Mechatronics₹1.50k0.01%
+₹8.8m		n/aPE141.2x

Latest News

AVALON
₹949.40
Avalon Technologies
7D
5.4%
1Y
26.1%

AVALON: Upcoming Board Review Will Support Confidence In Earnings Outlook

Narrative Update on Avalon Technologies Analysts now keep their Avalon Technologies fair value target steady at ₹1,328, citing slightly adjusted assumptions around discount rate, revenue growth, profit margin and forward P/E that refine, rather than overhaul, their prior view. Analyst Commentary Recent commentary from bullish analysts focuses on how current assumptions for discount rate, revenue growth, profit margin and forward P/E align with the steady fair value target of ₹1,328, rather than indicating a need for a major reset.
SYRMA
₹790.90
Syrma SGS Technology
7D
3.3%
1Y
62.1%

SYRMA: Revised Fair Value And Board Review Will Shape Rich P/E Outlook

Analysts have lifted their price target on Syrma SGS Technology from ₹758.32 to ₹820.00, citing updated assumptions that reflect adjusted discount rates, revenue growth, profit margin and future P/E expectations. What's in the News Board meeting scheduled for January 29, 2026, to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (Key Developments).
CYIENTDLM
₹284.10
Cyient DLM
7D
-4.2%
1Y
-29.6%

CYIENTDLM: Upcoming Board Decisions On IPO Funds Will Support Upside Potential

Analysts have maintained their fair value estimate for Cyient DLM at ₹426.78 per share, with only marginal updates to underlying assumptions such as discount rate, revenue growth, profit margin, and forward P/E informing this unchanged price target. What's in the News Board meeting scheduled for Jan 20, 2026, at 13:45 Indian Standard Time to consider and approve the unaudited financial results for the quarter ended Dec 31, 2025; review a proposed variation in the objects of IPO funds, subject to shareholder approval via postal ballot; and approve reconstitution of Board committees (company filing).
KAYNES
₹3,514.30
Kaynes Technology India
7D
-3.3%
1Y
-28.0%

KAYNES: Satellite Partnership And Upcoming Board Decisions Will Drive Future Upside

Analysts have lowered their price target for Kaynes Technology India from ₹7,000 to ₹6,000, reflecting updated assumptions for the discount rate, revenue growth, profit margin, and future P/E multiples. What's in the News A board meeting is scheduled on February 5, 2026 to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (company filing).
533581
₹502.20
PG Electroplast
7D
-4.1%
1Y
-43.0%

533581: Fiscal 2026 Earnings Guidance Will Support Further Repricing Upside

Analysts have nudged their fair value estimate for PG Electroplast slightly higher to ₹706.22 from ₹698.88, reflecting updated assumptions around the discount rate, revenue growth, profit margin, and a lower future P/E multiple. What's in the News PG Electroplast issued consolidated earnings guidance for FY 2026, with revenues expected in a range of ₹57,000 million to ₹58,000 million.
SEDEMAC
₹1,503.80
SEDEMAC Mechatronics
7D
0.01%
1Y
n/a
SAHASRA
₹220.65
Sahasra Electronic Solutions
7D
-1.8%
1Y
-22.3%
WEL
₹131.65
Wonder Electricals
7D
-4.3%
1Y
-22.9%

Wonder Electricals (NSE:WEL) Is Due To Pay A Dividend Of ₹0.10

Feb 14
Wonder Electricals (NSE:WEL) Is Due To Pay A Dividend Of ₹0.10
OSELDEVICE
₹504.60
Osel Devices
7D
0.3%
1Y
96.3%

Here's Why We Think Osel Devices (NSE:OSELDEVICE) Is Well Worth Watching

Feb 09
Here's Why We Think Osel Devices (NSE:OSELDEVICE) Is Well Worth Watching
ELIN
₹106.44
Elin Electronics
7D
-11.8%
1Y
-11.6%
AIMTRON
₹786.90
Aimtron Electronics
7D
0.8%
1Y
90.3%
VINYAS
₹900.55
Vinyas Innovative Technologies
7D
-1.3%
1Y
9.8%

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

Nov 16
Concerns Surrounding Vinyas Innovative Technologies' (NSE:VINYAS) Performance