8 listed companies earned ₹17,122 crore from electronics manufacturing in FY26, +18.0% a year over 3 years. Honeywell Automation India Ltd earned the most, 28.4% of it. Honeywell Automation India Ltd earned the most on each rupee of sales: 14.6%.
Tube Investments of India Ltd₹494 Cr · 2% of its sales
2.9%
Blue Star Ltd₹307 Cr · 2% of its sales
1.8%
Netweb Technologies India Ltd₹86 Cr (estimate) · 4% of its salesHigh Performance Storage Solutions 38% · Data Centre Servers 38% · Network Switches 24%
0.5%
Honeywell Automation India Ltd had 28.4% of the listed companies' revenue from electronics manufacturing here, 1.0 times as much as Syrma SGS Technology Ltd, the next largest. The two together sold 56%; the other 6 the rest.
From each company's own sales figures for this kind of product (its reported segment, or its whole sales where that is all it sells). Private makers are not counted, so this is the split among listed companies, not the whole market. An estimate is the share of turnover the company gives this product line in its sustainability report, times its own sales for the year, where its segments do not split it out.
How the sales have grown, and who sold them
Revenue from electronics manufacturing each financial year in ₹ crore (L = lakh crore), the change on the year before above each column
Honeywell Automation India LtdSyrma SGS Technology LtdAditya Infotech Ltd3M India LtdCG Power & Industrial Solutions LtdTube Investments of India Ltd2 others
The listed companies here earned ₹17,122 Cr from electronics manufacturing in FY26. Counting only the companies with figures in both years, sales went from ₹3,246 Cr in FY19 to ₹4,861 Cr. The biggest rise was in FY23 (+33%) and the weakest year FY21 (-6%). Honeywell Automation India Ltd's part of the total went from 61% in FY20 to 28% in FY26. Over three years Syrma SGS Technology Ltd grew fastest, +32.1% a year. Some companies are counted only from a later year (Syrma SGS Technology Ltd from FY20; Aditya Infotech Ltd from FY20; 3M India Ltd from FY23; CG Power & Industrial Solutions Ltd from FY26; Tube Investments of India Ltd from FY26; Blue Star Ltd from FY25; Netweb Technologies India Ltd from FY24).
Counted from the first year their figures for this are available: Syrma SGS Technology Ltd from FY20; Aditya Infotech Ltd from FY20; 3M India Ltd from FY23; CG Power & Industrial Solutions Ltd from FY26; Tube Investments of India Ltd from FY26; Blue Star Ltd from FY25; Netweb Technologies India Ltd from FY24. A jump in that year is partly that.
Who earns the most on each rupee
Operating profit as a share of revenue from electronics manufacturing, each financial year
Honeywell Automation India LtdSyrma SGS Technology LtdAditya Infotech Ltd
Operating profit before interest and tax, as a share of revenue from electronics manufacturing. Honeywell Automation India Ltd earned 14.6% on its sales in FY26, against 12.6% in FY17; its best year was FY20 at 20.3%. Syrma SGS Technology Ltd earned 10.2% on its sales in FY26, against 12.9% in FY20. Aditya Infotech Ltd earned 12.4% on its sales in FY26, against 1.6% in FY20; its best year was FY25 at 12.9%.
Sells in 28 states and 5 countries; exports 1.37% of turnover
₹86 Cr
estimate
+11.0%
—
—
—
—
—
110.1
32.9%
+30.4%
Brands are read from each company's filings and checked against a public source. Growth is the yearly rate of its revenue from electronics manufacturing. Margin is the operating profit (before interest and tax) the company reports on them, as a share of those sales; profit share is its part of all the listed companies' profit on them; return on assets is that profit against the assets it reports for them. A company with no other business is measured on its whole accounts. Where a company's segments include sales between its own businesses (a bank's treasury lending to its retail arm), each segment is scaled down in proportion so that together they match what the company earns outside itself; companies report those internal sales only as a total. Not a recommendation to buy or sell.
Also sold by
These companies report this together with other businesses, so their figures are not counted above
Stock pagePrice, valuation, profitability and a scorecard of health checks for every company, each figure explained.ScreenerEvery listed company, filtered on 212 figures, each with a plain-language lesson beside it.AI ScreenerAsk a question in plain English, like which companies benefit from India's Project 75. It reads the intent, builds the screen and writes the thesis.Business modelHow a company makes money and what can hurt it, each statement checked against its annual report.Before the BellA morning edition before the market opens: what moved, which rule changed, and what it means for your holdings.
<a href="https://app.valarth.in/brands/electronics"><img src="https://app.valarth.in/brands/electronics/card.png" alt="Who makes India's electronics: the listed companies' shares, by Valarth" width="600" height="315" loading="lazy"></a>
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Questions people ask
Who makes India's electronics?
8 listed companies report their revenue from electronics manufacturing: Honeywell Automation India Ltd (HONAUT), Syrma SGS Technology Ltd (SYRMA), Aditya Infotech Ltd (CPPLUS), 3M India Ltd (3MINDIA), CG Power & Industrial Solutions Ltd (CGPOWER), Tube Investments of India Ltd (TIINDIA), Blue Star Ltd (BLUESTARCO), Netweb Technologies India Ltd (NETWEB). 2 more sell them but report them together with other products.
Which listed company earns the most from electronics manufacturing in India?
Honeywell Automation India Ltd, with revenue from electronics manufacturing of ₹4,861 crore in FY26: 28.4% of the listed companies' total here.
How much do listed companies earn from electronics manufacturing?
The listed companies here earned ₹17,122 crore from electronics manufacturing in FY26, +18.0% a year over 3 years. Private makers are not included.
Which listed company makes the most profit from electronics manufacturing?
Honeywell Automation India Ltd: its operating profit was 14.6% of its revenue from electronics manufacturing in FY26.
