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

## Overview
Market Cap: ₹8,78,834 Cr
Avg P/E: 66.9
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): ₹4851.1 | PE 34.8 | MCap ₹3,24,429 Cr
- Bharat Electronics Ltd (BEL): ₹361 | PE 43.7 | MCap ₹2,68,593 Cr
- Mazagon Dock Shipbuilders Ltd (MAZDOCK): ₹1901.8 | PE 26.8 | MCap ₹76,715 Cr
- Bharat Dynamics Ltd (BDL): ₹1045.4 | PE 72.8 | MCap ₹38,320 Cr
- Cochin Shipyard Ltd (COCHINSHIP): ₹1141.5 | PE 44.2 | MCap ₹30,028 Cr
- Data Patterns (India) Ltd (DATAPATTNS): ₹3991.9 | PE 83.4 | MCap ₹22,348 Cr
- Garden Reach Shipbuilders & Engineers Ltd (GRSE): ₹1937.9 | PE 27.7 | MCap ₹22,199 Cr
- Apollo Micro Systems Ltd (APOLLO): ₹426.8 | PE 111.7 | MCap ₹15,860 Cr
- Aequs Ltd (AEQUS): ₹238.45 | PE — | MCap ₹15,615 Cr
- Sigma Advanced Systems Ltd (SIGMAADV): ₹820.3 | PE 88.8 | MCap ₹15,580 Cr
- ZEN Technologies Ltd (ZENTEC): ₹1598.6 | PE 79.8 | MCap ₹14,379 Cr
- Swan Defence And Heavy Industries Ltd (SWANDEF): ₹2626 | PE 39.4 | MCap ₹13,834 Cr
- Paras Defence and Space Technologies Ltd (PARAS): ₹1319 | PE 112.5 | MCap ₹10,629 Cr
- Unimech Aerospace and Manufacturing Ltd (UNIMECH): ₹1657.8 | PE 117.2 | MCap ₹8,439 Cr
- Rossell Techsys Ltd (ROSSTECH): ₹1398.3 | PE — | MCap —
- CFF Fluid Control Ltd (CFF): — | PE — | MCap —
- Sika Interplant Systems Ltd (SIKA): ₹880.2 | PE 53.8 | MCap ₹1,866 Cr
- DCX Systems Ltd (DCXINDIA): — | PE — | MCap —
- Taneja Aerospace & Aviation Ltd-$ (TANAA): ₹279.6 | PE — | MCap —
- Digilogic Systems Ltd (DIGILOGIC): — | PE — | MCap —
- High Energy Batteries India Ltd (HIGHENE): — | PE — | MCap —
- Laxmipati Engineering Works Ltd (LAXMIPATI): — | PE — | MCap —
- 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.