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

## Overview
Market Cap: ₹80,324 Cr
Avg P/E: 47.9
Companies: 10

## Data Freshness
Sector Updated: 2026-09-03T10:49:42.175Z
Updated By: daily market-close sector sync and derived refresh jobs

## Companies
- Hindustan Aeronautics Ltd (HAL): ₹4971.7 | PE — | MCap —
- Bharat Electronics Ltd (BEL): ₹408.9 | PE — | MCap —
- Mazagon Dock Shipbuilders Ltd (MAZDOCK): — | PE — | MCap —
- Bharat Dynamics Ltd (BDL): ₹1217 | PE 85.4 | MCap ₹44,610 Cr
- Cochin Shipyard Ltd (COCHINSHIP): ₹1538.8 | PE — | MCap —
- Garden Reach Shipbuilders & Engineers Ltd (GRSE): ₹2480 | PE 36.4 | MCap ₹28,409 Cr
- Data Patterns (India) Ltd (DATAPATTNS): ₹4804.1 | PE — | MCap —
- ZEN Technologies Ltd (ZENTEC): ₹1761.8 | PE — | MCap —
- Apollo Micro Systems Ltd (APOLLO): ₹421.95 | PE — | MCap —
- Aequs Ltd (AEQUS): — | PE — | MCap —
- Swan Defence And Heavy Industries Ltd (SWANDEF): ₹2659.75 | PE — | MCap —
- Sigma Advanced Systems Ltd (SIGMAADV): ₹760 | PE — | MCap —
- Paras Defence and Space Technologies Ltd (PARAS): ₹1470 | PE — | MCap —
- Unimech Aerospace and Manufacturing Ltd (UNIMECH): ₹1575 | PE — | MCap —
- Rossell Techsys Ltd (ROSSTECH): ₹1208.05 | PE — | MCap —
- Sika Interplant Systems Ltd (SIKA): ₹1003.1 | PE 66.7 | MCap ₹2,311 Cr
- CFF Fluid Control Ltd (CFF): — | PE 53.7 | MCap ₹2,148 Cr
- DCX Systems Ltd (DCXINDIA): — | PE — | MCap ₹1,910 Cr
- Taneja Aerospace & Aviation Ltd-$ (TANAA): — | PE 35.6 | MCap ₹680 Cr
- High Energy Batteries India Ltd (HIGHENE): — | PE — | MCap —
- Digilogic Systems Ltd (DIGILOGIC): — | PE — | MCap —
- Laxmipati Engineering Works Ltd (LAXMIPATI): — | PE 9.5 | MCap ₹256 Cr
- Garware Marine Industries Ltd (GARWAMAR): — | PE — | MCap —

## 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.