# Defence & Aerospace Sector
> Indigenization push with 75% domestic procurement mandate creates a decade-long order pipeline.

## Overview
Market Cap: ₹9,18,230 Cr
Avg P/E: 57.0
Avg ROE: 16.8%
Avg ROCE: 26.3%
1Y Return: +113.88%
Companies: 23

## Data Freshness
Sector Updated: 2026-05-25T05:47:10.306Z
Updated By: daily market-close sync and live stock-data refresh

## Companies
- Bharat Electronics Ltd (BEL): ₹416.55 | PE 51.9 | MCap ₹3,09,167 Cr
- Hindustan Aeronautics Ltd (HAL): ₹4368.4 | PE 32.15 | MCap ₹2,93,361 Cr
- Mazagon Dock Shipbuilders Ltd (MAZDOCK): ₹2469.1 | PE 38.76 | MCap ₹1,00,111 Cr
- Bharat Dynamics Ltd (BDL): ₹1312.5 | PE 84.06 | MCap ₹48,685 Cr
- Cochin Shipyard Ltd (COCHINSHIP): ₹1532.1 | PE 57.8 | MCap ₹41,965 Cr
- Garden Reach Shipbuilders & Engineers Ltd (GRSE): ₹2694 | PE 42.57 | MCap ₹29,334 Cr
- Data Patterns (India) Ltd (DATAPATTNS): ₹3969.7 | PE 77.32 | MCap ₹20,976 Cr
- ZEN Technologies Ltd (ZENTEC): ₹1593.1 | PE 72.55 | MCap ₹14,003 Cr
- Aequs Ltd (AEQUS): ₹212.48 | PE 0 | MCap ₹12,793 Cr
- Apollo Micro Systems Ltd (APOLLO): ₹355.05 | PE 122.92 | MCap ₹11,112 Cr
- Swan Defence And Heavy Industries Ltd (SWANDEF): ₹1923.2 | PE 0 | MCap ₹9,954 Cr
- Paras Defence and Space Technologies Ltd (PARAS): ₹812 | PE 68.09 | MCap ₹5,992 Cr
- Sigma Advanced Systems Ltd (SIGMAADV): ₹349.55 | PE 13.22 | MCap ₹5,394 Cr
- Unimech Aerospace and Manufacturing Ltd (UNIMECH): ₹936 | PE 70.49 | MCap ₹4,725 Cr
- Rossell Techsys Ltd (ROSSTECH): ₹923.65 | PE 154.97 | MCap ₹3,278 Cr
- DCX Systems Ltd (DCXINDIA): ₹202.04 | PE 164.16 | MCap ₹2,176 Cr
- Sika Interplant Systems Ltd (SIKA): ₹913.3 | PE 53.18 | MCap ₹1,941 Cr
- CFF Fluid Control Ltd (CFF): ₹751.25 | PE 39.37 | MCap ₹1,576 Cr
- Taneja Aerospace & Aviation Ltd-$ (TANAA): ₹278.75 | PE 41.01 | MCap ₹730 Cr
- High Energy Batteries India Ltd (HIGHENE): ₹539.95 | PE 27.11 | MCap ₹481 Cr
- Digilogic Systems Ltd (DIGILOGIC): ₹99.25 | PE 35.45 | MCap ₹287 Cr
- Laxmipati Engineering Works Ltd (LAXMIPATI): ₹306 | PE 18.94 | MCap ₹176 Cr
- Garware Marine Industries Ltd (GARWAMAR): ₹23 | PE 44.29 | MCap ₹13 Cr

## Analysis
India's defence sector is undergoing structural transformation with the government mandating 75% domestic procurement and targeting defence exports of $5 billion by 2025. The defence budget at ₹6.2 lakh crore (FY25) provides multi-year demand visibility. Key themes: fighter aircraft (Tejas), submarines (Project 75), naval frigates, missile systems, and electronic warfare. Private sector participation has increased dramatically with companies like BEL, HAL, Mazagon Dock, and L&T Defence winning large orders. Defence PSUs have order books of 3-5x revenue. Key metrics: order book, order inflow, execution rate, and EBITDA margins. The sector trades at premium valuations (40-70x PE) due to scarcity and long-term growth visibility. Risks include execution delays and budgetary allocation changes.

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Source: rupiya.io/sectors/defence
Disclaimer: For research and education only. Not investment advice.