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Indian (NIFTY) Electronic Manufacturing Services Industry Analysis

UpdatedMar 22, 2026
DataAggregated Company Financials
Companies12
  • 7D4.4%
  • 3M-8.0%
  • 1Y-16.3%
  • YTDn/a

Syrma SGS Technology is up 8.2%, leading the way for the Electronic Manufacturing Services industry, which has gained 4.4%. In contrast, the industry has lost 16% in the last 12 months. Looking forward, earnings are forecast to grow by 27% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 22 Mar 2026₹759.8b₹196.1b₹13.1b53.9x57.8x3.9x
Tue, 17 Feb 2026₹777.8b₹189.5b₹12.7b59.1x61.4x4.1x
Thu, 15 Jan 2026₹715.0b₹180.2b₹11.7b65.2x60.9x4x
Sat, 13 Dec 2025₹762.4b₹180.2b₹11.7b63.7x65x4.2x
Mon, 10 Nov 2025₹906.4b₹175.3b₹11.4b76.1x79.6x5.2x
Wed, 08 Oct 2025₹1.0t₹171.5b₹10.5b76.9x96.2x5.9x
Fri, 05 Sep 2025₹938.9b₹171.5b₹10.5b72.1x89.6x5.5x
Sun, 03 Aug 2025₹949.8b₹169.2b₹10.5b76.7x90.7x5.6x
Tue, 01 Jul 2025₹889.2b₹169.5b₹10.3b59.4x86.6x5.2x
Thu, 29 May 2025₹864.2b₹168.3b₹10.1b65.1x85.4x5.1x
Sat, 26 Apr 2025₹847.7b₹155.9b₹8.4b62.8x101.3x5.4x
Mon, 24 Mar 2025₹803.8b₹155.2b₹8.3b60x97x5.2x
Wed, 19 Feb 2025₹671.4b₹155.2b₹8.3b53.7x81x4.3x
Fri, 17 Jan 2025₹925.6b₹144.6b₹7.4b70.9x124.6x6.4x
Sun, 15 Dec 2024₹962.5b₹144.6b₹7.4b77.6x129.6x6.7x
Tue, 12 Nov 2024₹804.5b₹139.7b₹7.2b84.1x112.2x5.8x
Thu, 10 Oct 2024₹719.4b₹133.5b₹6.3b83.4x113.6x5.4x
Sat, 07 Sep 2024₹675.9b₹133.5b₹6.3b84.9x106.7x5.1x
Mon, 05 Aug 2024₹626.9b₹126.8b₹6.5b84.7x96.6x4.9x
Wed, 03 Jul 2024₹585.7b₹117.9b₹5.7b95.8x103.2x5x
Fri, 31 May 2024₹475.7b₹114.2b₹5.2b92x92x4.2x
Sun, 28 Apr 2024₹433.2b₹106.2b₹5.0b84.2x86.8x4.1x
Tue, 26 Mar 2024₹417.5b₹103.1b₹5.1b77.8x82.4x4x
Thu, 22 Feb 2024₹434.6b₹103.1b₹5.1b72.8x85.8x4.2x
Sat, 20 Jan 2024₹431.2b₹98.6b₹4.7b81.6x92.6x4.4x
Mon, 18 Dec 2023₹435.0b₹98.6b₹4.7b71.3x93.5x4.4x
Wed, 15 Nov 2023₹391.7b₹98.5b₹4.6b70.1x84.5x4x
Fri, 13 Oct 2023₹432.6b₹93.3b₹4.6b71.7x94.4x4.6x
Sun, 10 Sep 2023₹373.0b₹91.0b₹4.5b75.5x82.7x4.1x
Tue, 08 Aug 2023₹315.1b₹90.9b₹4.5b63.4x69.5x3.5x
Thu, 06 Jul 2023₹258.1b₹77.6b₹3.8b56.2x68.3x3.3x
Sat, 03 Jun 2023₹226.2b₹77.7b₹3.8b52.4x59.9x2.9x
Mon, 01 May 2023₹175.3b₹69.3b₹3.4b52.2x51.8x2.5x
Wed, 29 Mar 2023₹140.2b₹60.9b₹2.8b48.7x51x2.3x
Price to Earnings Ratio

51x


Total Market Cap: ₹140.2bTotal 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 57.8x 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 3.9x.
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-0.17%
Tech0.89%
Electronic Equipment and Components1.20%
Electronic Manufacturing Services4.36%
Electronic Components8.60%
Electronic Equipment and Instruments-1.08%
Technology Distributors-4.63%
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₹783.908.2%
+₹11.4b		67.2%PE53.5x
KAYNES Kaynes Technology India₹3.62k4.2%
+₹9.7b		-25.3%PE62.4x
AVALON Avalon Technologies₹951.908.3%
+₹4.9b		23.8%PE66.2x
533581 PG Electroplast₹512.752.1%
+₹2.9b		-45.6%PE52.8x
SEDEMAC SEDEMAC Mechatronics₹1.50k2.4%
+₹1.6b		n/aPE140.9x

Latest News

CYIENTDLM
₹303.80
Cyient DLM
7D
-0.5%
1Y
-27.3%

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
₹3,620.60
Kaynes Technology India
7D
4.2%
1Y
-25.3%

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
₹512.75
PG Electroplast
7D
2.1%
1Y
-45.6%

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
₹1,501.20
SEDEMAC Mechatronics
7D
2.4%
1Y
n/a
AVALON
₹951.90
Avalon Technologies
7D
8.3%
1Y
23.8%

AVALON: Earnings Quality And Margin Resilience Will Support Future Upside

Analysts now place Avalon Technologies' fair value at ₹1,068.71, compared with the earlier ₹1,028.17, reflecting updated assumptions around discount rate, revenue growth, profit margins and future P/E. Analyst Commentary Analysts updating their fair value work on Avalon Technologies are focusing on how the revised assumptions around discount rate, revenue growth, profit margins and future P/E line up with the company’s ability to execute and sustain earnings quality.
SYRMA
₹783.90
Syrma SGS Technology
7D
8.2%
1Y
67.2%

SYRMA: Board Review Of Results Will Support Future Margin Expansion

Analysts have trimmed their price target for Syrma SGS Technology from about ₹1,162 to roughly ₹1,093, reflecting updated views around slightly lower projected revenue growth, more modest profit margins, and a higher assumed future P/E multiple. 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, along with a limited review report (Key Developments).
WEL
₹134.00
Wonder Electricals
7D
-2.3%
1Y
-22.3%

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
₹520.80
Osel Devices
7D
12.4%
1Y
108.4%

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
₹117.00
Elin Electronics
7D
-1.4%
1Y
-2.8%
AIMTRON
₹788.85
Aimtron Electronics
7D
5.1%
1Y
84.2%
VINYAS
₹939.15
Vinyas Innovative Technologies
7D
1.0%
1Y
14.4%

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

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