Industrial Manufacturing industry
191 companies · ₹414.5 L cr · 27 with AI deep dives
5y revenue CAGR
median 12.89%(p25 5.7% · p75 21.78%)
5y avg ROCE
median 16.23%(p25 10.09% · p75 22.03%)
Debt / equity
median 0.26x(p25 0.14x · p75 0.55x)
AI sector brief
from the bucket's latest earnings calls · as of 2026-03-31tailwindDomestic industrial demand drives broad-based double-digit revenue growth across the sector12 managements
At least twelve of the twenty-four reporting companies achieved double-digit-to-near-50% revenue growth in FY26, spanning defense electronics, EMS, rail systems, process…
- OMNI (FY26): “revenue grew 49.1% to INR 511.3 crores. EBITDA rose 45.4% to INR 171.1 crores. Profit…”
tailwind10 managements🔒headwind7 managements🔒headwind6 managements🔒headwind3 managements🔒headwind3 managements🔒headwind2 managements🔒
6 more themes from this quarter's earnings calls are locked. A free account opens the full brief: every theme with verbatim management quotes, the demand picture, companies running against the tide, and the regulatory & disruption watch. Sign up free →
| Company | Mcap | AI verdict | Signals | Stated KPIs (latest call) |
|---|---|---|---|---|
| Max Alert Systems Ltd | ₹409.4 L cr | Unlock | cyclical high volatilitygross block efficient | |
| Mazagon Dock Shipbuilders Ltd | ₹92,455 cr | Unlock | net cashgross block efficient | |
| Aditya Infotech Ltd | ₹40,305 cr | Unlock | roce compounderearnings quality weaknet cashgross block efficient | |
| Cochin Shipyard Ltd | ₹36,354 cr | Unlock | latent operating leveragecyclical high volatility | |
| Honeywell Automation India Ltd | ₹33,200 cr | Unlock | gross block efficient | |
| Syrma SGS Technology Ltd | ₹25,195 cr | Unlock | gross block efficient | |
| Kaynes Technology India Ltd | ₹21,643 cr | Unlock | latent operating leveragecapex coming onlinecapex intensity elevated | |
| Jyoti CNC Automation Ltd | ₹18,330 cr | Unlock | roce compoundercapex intensity elevatedgross block efficient | |
| LMW Ltd | ₹16,934 cr | Unlock | earnings quality strongcyclical peak basecyclical high volatilitygross block efficient | |
| Lloyds Engineering Works Ltd | ₹13,509 cr | Unlock | earnings quality weaknet cashgross block efficient | |
| Swan Defence and Heavy Industries Ltd | ₹12,649 cr | Unlock | levering upcyclical high volatilitycapex intensity elevatedgross block underutilised | |
| Tega Industries Ltd | ₹11,335 cr | Unlock | earnings quality strongnet cashcyclical high volatilitygross block efficient | |
| Titagarh Rail Systems Ltd | ₹10,882 cr | Unlock | cyclical high volatilitygross block efficient | |
| Jupiter Wagons Ltd | ₹10,507 cr | Unlock | latent operating leveragecapex coming onlineearnings quality weakcyclical high volatility | |
| Omnitech Engineering Ltd | ₹7,387 cr | Unlock | roce compounderearnings quality weakcapex intensity elevated | |
| HMT Ltd | ₹7,320 cr | Unlock | cyclical high volatilitygross block efficient | |
| Dynamatic Technologies Ltd | ₹7,026 cr | Unlock | earnings quality strongdeleveragingcyclical high volatility | |
| Kennametal India Ltd | ₹6,347 cr | Unlock | earnings quality strongcyclical high volatilitygross block efficient | |
| Praj Industries Ltd | ₹5,560 cr | Unlock | latent operating leveragecyclical peak basecyclical high volatilitygross block efficient | |
| Cyient DLM Ltd | ₹5,423 cr | Unlock | gross block efficient | |
| Standard Engineering Technology Ltd | ₹5,366 cr | Unlock | earnings quality weaknet cashgross block efficient | |
| Centum Electronics Ltd | ₹5,086 cr | Unlock | deleveragingcyclical high volatilitygross block efficient | |
| DEE Development Engineers Ltd | ₹4,675 cr | Unlock | earnings quality weakdeleveragingcapex intensity elevated | |
| Hind Rectifiers Ltd | ₹4,482 cr | Unlock | roce compounderearnings quality stronggross block efficient | |
| Texmaco Rail & Engineering Ltd | ₹4,461 cr | Unlock | deleveragingcyclical high volatilitygross block efficient | |
| John Cockerill India Ltd | ₹4,325 cr | Unlock | earnings quality strongcyclical high volatilitygross block efficient | |
| WPIL Ltd | ₹4,268 cr | Unlock | cyclical high volatilitygross block efficient | |
| The Anup Engineering Ltd | ₹4,267 cr | Unlock | earnings quality weakcyclical high volatilitygross block efficient | |
| Marine Electricals (India) Ltd | ₹3,765 cr | Unlock | gross block efficient | |
| Spectrum Electrical Industries Ltd | ₹3,691 cr | Unlock | capex coming onlinecapex intensity elevated | |
| GMM Pfaudler Ltd | ₹3,654 cr | Unlock | earnings quality strongdeleveragingcyclical high volatilitygross block efficient | |
| Pitti Engineering Ltd | ₹3,445 cr | Unlock | latent operating leverageearnings quality strongdeleveragingcyclical high volatility | |
| Shanthi Gears Ltd | ₹3,215 cr | Unlock | roce compoundercyclical high volatilitygross block efficient | |
| Jash Engineering Ltd | ₹3,190 cr | Unlock | gross block efficient | |
| HLE Glascoat Ltd | ₹2,899 cr | Unlock | earnings quality strongdeleveragingcyclical high volatilitygross block efficient | |
| Windsor Machines Ltd | ₹2,813 cr | Unlock | cyclical high volatilitycapex intensity elevatedgross block efficient | |
| JNK India Ltd | ₹2,607 cr | Unlock | gross block efficient | |
| EPack Prefab Technologies Ltd | ₹2,548 cr | Unlock | roce compounderearnings quality stronggross block efficient | |
| Concord Control Systems Ltd | ₹2,520 cr | Unlock | latent operating leverageroce compoundergross block efficient | |
| Kilburn Engineering Ltd | ₹2,437 cr | Unlock | roce compoundergross block efficient | |
| Pennar Industries Ltd | ₹2,227 cr | Unlock | earnings quality stronglevering upcyclical high volatilitygross block efficient | |
| HPL Electric & Power Ltd | ₹2,147 cr | Unlock | earnings quality strongdeleveraginggross block efficient | |
| Honda India Power Products Ltd | ₹2,132 cr | Unlock | latent operating leveragecapex coming onlinecapex ahead of revenuecyclical high volatility | |
| Thejo Engineering Ltd | ₹2,069 cr | Unlock | earnings quality strongnet cashgross block efficient | |
| Indian Hume Pipe Company Ltd | ₹1,970 cr | Unlock | cyclical high volatilitygross block efficient | |
| Disa India Ltd | ₹1,788 cr | Unlock | capex coming onlineroce compoundercyclical high volatilitygross block efficient | |
| Vinyas Innovative Technologies Ltd | ₹1,569 cr | Unlock | roce compounderearnings quality weakgross block efficient | |
| Walchandnagar Industries Ltd | ₹1,551 cr | Unlock | deleveragingcapital destroyercyclical high volatility | |
| Gala Precision Engineering Ltd | ₹1,423 cr | Unlock | earnings quality weakcapex intensity elevatedgross block efficient | |
| Kabra Extrusion Technik Ltd | ₹1,395 cr | Unlock | latent operating leveragecyclical peak basecyclical high volatility | |
| ICE Make Refrigeration Ltd | ₹1,357 cr | Unlock | latent operating leveragelevering upgross block efficient | |
| Macpower CNC Machines Ltd | ₹1,298 cr | Unlock | earnings quality weaknet cashgross block efficient | |
| Shree Refrigerations Ltd | ₹1,237 cr | Unlock | capex coming onlinecapex intensity elevatedgross block efficient | |
| Everest Kanto Cylinder Ltd | ₹1,205 cr | Unlock | capex coming onlineearnings quality strongcapex ahead of revenuecyclical high volatility | |
| Eimco Elecon (India) Ltd | ₹1,034 cr | Unlock | earnings quality weaknet cashcyclical high volatilitygross block efficient | |
| Salasar Techno Engineering Ltd | ₹1,033 cr | Unlock | latent operating leverageearnings quality strongdeleveragingcyclical high volatility | |
| Emkay Tools Ltd | ₹1,025 cr | Unlock | roce compoundergross block efficient | |
| Prizor Viztech Ltd | ₹1,004 cr | Unlock | roce compounderearnings quality weakcapex intensity elevated | |
| Mamata Machinery Ltd | ₹937 cr | Unlock | earnings quality strongnet cashgross block efficient | |
| Rajoo Engineers Ltd | ₹931 cr | Unlock | earnings quality strongnet cashcapex intensity elevated | |
| Bajaj Steel Industries Ltd | ₹847 cr | Unlock | latent operating leveragecyclical high volatility | |
| Airfloa Rail Technology Ltd | ₹766 cr | Unlock | roce compounderearnings quality weakgross block efficient | |
| Indef Manufacturing Ltd | ₹740 cr | Unlock | earnings quality weakcapex intensity elevatedgross block efficient | |
| Oriental Rail Infrastructure Ltd | ₹736 cr | Unlock | deleveragingcyclical high volatilitygross block efficient | |
| Lokesh Machines Ltd | ₹720 cr | Unlock | latent operating leverageearnings quality stronglevering upcyclical high volatility | |
| Kanoria Chemicals & Industries Ltd | ₹699 cr | Unlock | deleveragingcapital destroyercyclical high volatility | |
| Forbes Precision Tools & Machine Parts Ltd | ₹675 cr | Unlock | roce compounderearnings quality strongnet cashcapex intensity elevated | |
| Axtel Industries Ltd | ₹667 cr | Unlock | latent operating leverageroce compounderearnings quality strongcyclical high volatility | |
| Merritronix Ltd | ₹632 cr | Unlock | ||
| Sunita Tools Ltd | ₹626 cr | Unlock | capex coming onlinecapex intensity elevatedgross block underutilised | |
| Captain Technocast Ltd | ₹581 cr | Unlock | latent operating leverageroce compounderdeleveraging | |
| Integra Engineering India Ltd | ₹569 cr | Unlock | latent operating leverageroce compoundercyclical high volatilitygross block efficient | |
| Kalyani Cast-tech Ltd | ₹561 cr | Unlock | capex coming onlineroce compounderearnings quality weaknet cash | |
| Deccan Bearings Ltd | ₹552 cr | Unlock | cyclical high volatility | |
| Artson Ltd | ₹543 cr | Unlock | levering upcapital destroyercyclical high volatilitygross block efficient | |
| Danlaw Technologies India Ltd | ₹482 cr | Unlock | capex coming onlineroce compoundercyclical high volatilitygross block efficient | |
| International Conveyors Ltd | ₹477 cr | Unlock | earnings quality weakcyclical high volatilitygross block efficient | |
| L T Elevator Ltd | ₹475 cr | Unlock | roce compounderearnings quality weakgross block efficient | |
| Hrs Aluglaze Ltd | ₹473 cr | Unlock | earnings quality weakcapex intensity elevatedgross block underutilised | |
| Fabtech Technologies Cleanrooms Ltd | ₹472 cr | Unlock | earnings quality weakgross block efficient | |
| Bemco Hydraulics Ltd | ₹469 cr | Unlock | earnings quality strongcyclical high volatility | |
| United Drilling Tools Ltd | ₹463 cr | Unlock | net cashcyclical high volatilitygross block efficient | |
| Gujarat Apollo Industries Ltd | ₹454 cr | Unlock | latent operating leveragenet cashcapital destroyercyclical high volatility | |
| Mazda Ltd | ₹437 cr | Unlock | cyclical high volatilitycapex intensity elevatedgross block efficient | |
| Fluidomat Ltd | ₹435 cr | Unlock | capex coming onlinecyclical high volatilitygross block efficient | |
| Cryogenic Ogs Ltd | ₹426 cr | Unlock | roce compounder | |
| True Colors Ltd | ₹397 cr | Unlock | roce compounderearnings quality weakcapex intensity elevated | |
| Patil Automation Ltd | ₹395 cr | Unlock | roce compounderearnings quality weakcapex intensity elevated | |
| Batliboi Ltd | ₹392 cr | Unlock | earnings quality strongdeleveragingcyclical high volatilitygross block efficient | |
| Tipco Engineering India Ltd | ₹376 cr | Unlock | roce compounderearnings quality weakgross block efficient | |
| Hercules Investments Ltd | ₹372 cr | Unlock | earnings quality weakcapital destroyercapex intensity elevated | |
| Cospower Engineering Ltd | ₹365 cr | Unlock | deleveragingcyclical high volatilitygross block efficient | |
| Stovec Industries Ltd | ₹358 cr | Unlock | cyclical high volatilitygross block efficient | |
| Taurian MPS Ltd | ₹333 cr | Unlock | roce compounderearnings quality weakcapex intensity elevatedgross block efficient | |
| Gtv Engineering Ltd | ₹315 cr | Unlock | cyclical high volatilitygross block efficient | |
| Mahindra EPC Irrigation Ltd | ₹299 cr | Unlock | cyclical high volatilitygross block efficient | |
| Aaron Industries Ltd | ₹297 cr | Unlock | latent operating leveragedeleveraging | |
| Josts Engineering Co Ltd | ₹294 cr | Unlock | roce compounderearnings quality weaknet cashcyclical high volatility | |
| Precision Electronics Ltd | ₹292 cr | Unlock | latent operating leveragecapex coming onlinelevering upcyclical high volatility | |
| Laxmipati Engineering Works Ltd | ₹288 cr | Unlock | earnings quality weakdeleveragingcyclical high volatility |