16 Indian listed companies the Valarth AI Screener found for this question, as of 13 Oct 2026. Below: how it read the question, the filters it used, and why each company is on the list.
How Valarth read it
confidence 90%
Defence & Aerospace companies with large order books; order book size is not a screenable field, so it is kept as residue.
No column in the data backs this part of the question, so it was used to rank the results, not to include or exclude a company.
What these companies have in common · written by the model
Sixteen Indian defence names: electronics and aerospace majors dominate, with shipbuilders and precision engineering.
The kept basket is a set of Indian defence and aerospace suppliers spanning defence electronics, aerospace systems, naval shipbuilding and precision metals or components. By market cap it is dominated by state-owned giants BEL and HAL, so the basket behaves largely as a defence-procurement and government-capex proxy. Smaller names carry higher beta and more idiosyncratic order-flow risk.
Stocks16
Weighted ROCE25.2%
Median P/E61.1x
Combined mcap₹8.07L Cr
Median 1Y return+21.2%
Median beta1.32
Risks of holding them together
Concentration: BEL and HAL together make up roughly 73% of basket market cap, so basket returns track two state-owned names.
Government procurement and budget cycles drive order timing; delays in defence contracts can hit revenue and sentiment across the basket.
Valuation dispersion is wide: several small and mid caps trade above 100x earnings, while the median sits near 61x, leaving room for sharp de-rating on any miss.
Some names have negative or unreliable earnings (NIBE, DCXINDIA, PAT declines at MIDHANI), so P/E-based comparisons are weak for part of the basket.
16 matches
Apollo Micro Systems Ltd
APOLLO · Small Cap · Defence & Aerospace
81%match
Market cap₹14,916 Cr
P/E112.2x
ROCE15.6%
1 year+26.7%
industry_l1: Industrials. matches
industry_l2: Defence & Aerospace. matches
filing mentions entry barriers. annual report / IR text
From its filings. “…ue through strategic alliances and acquisitions. At Apollo Micro Systems, we are committed to empower India’s defence and aerospace capabilities, with our world-class high-tech innovation, manufacturing excellence and a dedicat…”
From its filings. “…SU'iSdV f^ T Tte, HHMKI, - 560 045, '•TRcT Bharat Electronics Limited (Govt, of India Enterprise, Ministry of Defence) Registered Office : Outer Ring Road, Nagavara, Bangalore - 560 045, INDIA. CIN : L32309KA1954GOI000787 tcfr^…”
Astra Microwave Products Ltd
ASTRAMICRO · Small Cap · Defence & Aerospace
89%match
Market cap₹16,044 Cr
P/E83.0x
ROCE18.5%
1 year+55.7%
industry_l1: Industrials. matches
industry_l2: Defence & Aerospace. matches
filing mentions drdo. annual report / IR text
From its filings. “…02 Corporate snapshot 06 The overview: AMPL’S market spaces are growing 08 How India’s defence and space sectors have evolved in the last decade 17 How AMPL is positioned to capitalize on the industry opt…”
Krishna Defence & Allied Industries Ltd
KRISHNADEF · Small Cap · Defence & Aerospace
94%match
Market cap₹1,827 Cr
P/E42.4x
ROCE31.0%
1 year+49.3%
Reported segment. Defence Products: 95% of revenue
industry_l1: Industrials. matches
industry_l2: Defence & Aerospace. matches
From its filings. “…tion 30 (LODR)-Press Release: Construction of Most Advanced AUV, Designed by Indian Navy commences at Krishna Defence and Allied Industries Limited Dear Sir, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclo…”
NIBE Ltd
NIBE · Small Cap · Defence & Aerospace
80%match
Market cap₹1,890 Cr
P/E-213.6x
ROCE11.0%
1 year−6.0%
Reported segment. Defence: 91% of revenue
industry_l1: Industrials. matches
industry_l2: Defence & Aerospace. matches
From its filings. “…es we are building, the technologies we are developing and the milestones we are achieving. Advancing India’s Defence Capabilities The year witnessed several important technological and operational milestones that reinforce our…”
From its filings. “…tors, including Clean Energy—such as Civil Nuclear Power, Fuel Cells, and Hydropower—as well as Aerospace and Defence. With an unwavering commitment to excellence, the Company has consistently adopted best-in-class practices to…”
Paras Defence and Space Technologies Ltd
PARAS · Small Cap · Defence & Aerospace
88%match
Market cap₹10,417 Cr
P/E108.2x
ROCE17.8%
1 year+82.7%
Reported segment. Defence Engineering: 58% of revenue
industry_l1: Industrials. matches
industry_l2: Defence & Aerospace. matches
From its filings. “…Mumbai - 400 051 Trading Symbol: PARAS Dear Sir/Madam, Sub: Annual Report for Financial Year 2024-25 of Paras Defence and Space Technologies Limited (“the Company”) along with Notice of 16th Annual General Meeting This is furth…”
CFF Fluid Control Ltd
543920 · Small Cap · Defence & Aerospace
85%match
Market cap₹2,258 Cr
P/E—
ROCE23.4%
1 year+74.8%
industry_l1: Industrials. matches
industry_l2: Defence & Aerospace. matches
filing mentions drdo. annual report / IR text
From its filings. “…ere we turned technological collaborations into combat-ready solutions for the Indian Navy. "Building India’s Defence Sovereignty Through Strategic Partnerships" 1. Financial Performance: Breaking New Ground Building on FY24’s …”
From its filings. “Vision To be a global leader in the Aerospace & Defence Industry Mission We are committed to deliver superior technology solutions to the customers by leveraging our…”
DCX Systems Ltd
DCXINDIA · Small Cap · Defence & Aerospace
77%match
Market cap₹1,679 Cr
P/E-81.7x
ROCE4.5%
1 year−36.7%
industry_l1: Industrials. matches
industry_l2: Defence & Aerospace. matches
From its filings. “…8KA2011PLC061686 An AS 9100D Certified Regd. Off. Add.: Aerospace SEZ Sector, Plot Nos. 29,30 and 107, Hitech Defence and Aerospace Park, Kavadadasanahalli, Bengaluru Rural – 562110, Karnataka, India. Email:cs@dcxindia.com Tel:…”
Azad Engineering Ltd
AZAD · Small Cap · Defence & Aerospace
93%match
Market cap₹19,170 Cr
P/E135.4x
ROCE11.6%
1 year+81.0%
industry_l1: Industrials. matches
industry_l2: Defence & Aerospace. matches
From its filings. “…t Us Built on Trust, Shaped by Partnerships Precision that Powers the Impossible Sectors We Serve Aerospace & Defence and Energy & Oil & Gas Message from the Chairman & CEO A Year of Consolidation and Forward Momentum Highlight…”
From its filings. “…Mazagon Dock Shipbuilders Limited (MDL), known as the ‘Ship & Submarine Builders to the Nation,’ is one of India’s premier defence shipyards, operating under the Ministry of Defence. We specialise in constructing, repairing, and refurbishin…”
Rossell Techsys Ltd
ROSSTECH · Small Cap · Defence & Aerospace
85%match
Market cap₹5,926 Cr
P/E230.9x
ROCE11.1%
1 year+129.9%
industry_l1: Industrials. matches
industry_l2: Defence & Aerospace. matches
From its filings. “…arga Road, Kolkata, West Bengal, India, 700017 Corporate office and Plant location: No 58 C Road No 2 Hi Tech Defence and Aerospace Park, Behind KIADB Industrial Area Devanahalli, Bengaluru Rural, Bengaluru Rural, Bengaluru Rur…”
From its filings. “…While your company, over the last six and a half decades, has strived to serve the Indian defence sector, combining shipbuilding and engineering excellence with National duty, the year under review has been …”
Mishra Dhatu Nigam Ltd
MIDHANI · Small Cap · Defence & Aerospace
87%match
Market cap₹8,214 Cr
P/E61.1x
ROCE8.3%
1 year+15.7%
industry_l1: Industrials. matches
industry_l2: Defence & Aerospace. matches
From its filings. “India’s defence Sector has undergone a transformation, transitioning from a largely import dependent to a self-reliant ecosys…”
A screen is a starting list, not a recommendation. It shows which companies fit a description on the data available on 13 Oct 2026; it says nothing about whether any of them is worth buying.
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