Companies whose own annual reports evidence AI exposure — building or selling AI products, not merely mentioning the trend. The tier says how real it is; the quote under each row is the proof.
Core — the theme IS a principal business todayGrowing — real operations, not yet the main businessAnnounced — committed plans or orders, little revenue yetMention-only — appears only as outlook language
Angel OneStockbroking & AlliedGrowing₹26,949 CrP/E 5.0 vs 15.8
Angel One has operationally deployed AI/ML across its platform including the 'Ask Angel' chatbot, the in-house Data Analyst Agent (DAA), Agentic AI in engineering workflows, and ML-driven credit decisioning — AI supports but is not itself a separate revenue segment.
“We launched our proprietary AI-powered chatbot, 'Ask Angel', ushering a new era of intelligent client engagement, with the platform resolving >80% of client queries autonomously.”
+2 more quotes from the report
“FY26 marked a structural shift toward operationalising artificial intelligence across core workflows, moving beyond pilot initiatives to deploy capabilities that enhance operating leverage, engineering velocity and client engagement.”
“Our deep adoption of emerging technologies such as AI, combined with resilient infrastructure and real-time intelligence, enables stronger engagement, faster build cycles and superior scalability.”
IIFL FinanceNon Banking Financial Company (NBFC)Growing₹24,725 CrP/E 11.8 vs 18.9
IIFL Finance has active operational AI deployment across underwriting, collections, fraud detection and lead generation (with AI-assisted leads generating ~₹1,000 Crores monthly pipeline), but AI is an enabler for its core lending business rather than a principal business line.
“In FY 2025-26, artificial intelligence moved from planning into active deployment — in lead generation, in gold ornament authentication, in credit underwriting, and in collections and customer service.”
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“Launched agentic customer support Deployed Business Loan Referral Agent Achieved 30% cost reduction through automation Reduced CAC by 25% via AI lead generation”
AI/ML is operationally deployed across the platform for customer support (85% auto-resolved), partner voice queries, real-time image-based SOP auditing (23.5M images in Q4 FY26), fraud detection, IoT diagnostics and AI-assisted code generation (>90% of codebase), but AI is an enabler of their home-services business rather than a product they sell.
“Our AI-powered conversational agents now resolve 85% of customer queries end-to-end without human intervention.”
Jyoti CNC AutomationIndustrial ProductsGrowing₹23,149 CrP/E 72.0 vs 28.5ROCE 19.2%
Company has launched AI-integrated CNC machine products with collision-prevention and automated repetitive-functioning features.
“the company had launched sophisticated products aligning with Industry 4.0 and AI Integrated geared towards automatic sophisticated and repetitive functioning as well as has collision prevention technology.”
Metro BrandsFootwearGrowing₹22,925 CrP/E 56.4 vs 47.6ROCE 16.3%
Metro Brands operationally deploys AI/ML-based planning for inventory management, demand forecasting, replenishment, location intelligence and is developing in-house AI assistants across its retail network.
“Inventory management is one of our key focus areas. We are using AI- and machine-learning-based planning to strengthen demand forecasting, initial allocation and replenishment”
+1 more quote from the report
“The Company is also leveraging AI-enabled search, digital discovery platforms and data-driven customer engagement initiatives to improve online visibility, strengthen customer acquisition and drive incremental revenue through digital channels.”
Kaynes operationally deploys AI/ML in its Sensonic rail safety products and Kavach-aligned systems, and offers AI/ML services as part of its digital engineering capabilities.
“AI-led rail safety deployed (Sensonic)”
Prime FocusPFOCUSGrowing₹21,121 CrP/E 176.6ROCE 9.8%
Prime Focus has multiple AI-focused subsidiaries, including Brahma AI Limited and Brahma AI Services UK Limited (formerly Metaphysic Limited), indicating real AI operations as part of its business portfolio.
“13. To approve material related party transaction(s) between Brahma AI Limited, a subsidiary of the Company and certain Identified Related Parties of the Company.”
NBCCCivil ConstructionGrowing₹19,980 CrP/E 27.0 vs 14.6ROCE 29.7%
NBCC is operationally deploying AI/ML for design optimization, predictive project monitoring, risk assessment and quality assurance across its construction and PMC projects.
“NBCC has begun integrating Artificial Intelligence across key areas of operations. AI-driven solutions are being deployed for design optimization, predictive project monitoring, risk assessment, and quality assurance.”
The Ramco CementsCement & Cement ProductsGrowing₹19,387 CrP/E 30.1 vs 29.8ROCE 7.1%
Ramco operationally deploys AI tools in its cement operations — including AI-enabled bank reading, purchase bill scanning, and cheque data extraction — though this is internal process automation, not a revenue-generating AI business.
“AI-enabled purchase bill scanning and automated cheque data extraction has significantly reduced manual dependency.”
EIHHotels & ResortsGrowing₹18,198 CrP/E 25.6 vs 27.3ROCE 14.9%
EIH operationally deploys AI in its hospitality business via an AI-powered HCM platform (Darwinbox) and Oberoi Assist (powered by Glowing.io) for automated, personalised guest communications.
“AI-enabled check-in prompts and departure communications further enhance convenience, creating a seamless and thoughtfully curated experience from arrival to departure.”
Shadowfax TechnologiesLogistics Solution ProviderGrowing₹16,698 CrP/E 103.8 vs 15.7ROCE 5.7%
Shadowfax operationally uses AI across software development, logistics routing, rider acquisition, and network simulation, although it is not the company's principal business.
“In FY 26, artificial intelligence stopped being something we were experimenting with and became the way we operate. It now writes a super-majority share of our code, and it has reshaped the systems that matter most: routing, rider acquisition, and network simulation.”
Computer Age MNGT SerDepositories Clearing Houses and Other IntermediariesGrowing₹16,444 CrP/E 17.2ROCE 43.8%
CAMS has built and operationally deploys AI products (CAMSAi suite, CAMSLens) and, through its Think360.ai subsidiary, runs a full-stack data-science and AI solutions business serving 190+ BFSI clients, but AI remains secondary to its core mutual fund RTA services.
“Powered by Specialised Language Models (SLMs), CAMSAi tackles the last-mile challenges that generic AI cannot handle, such as multi-intent interactions, multilingual handwriting, nuanced compliance, and real-time fraud detection – effectively improving service quality, operational agility, and compliance while optimising costs and risk.”
TCL is operationally deploying AI, IIoT and automation across its manufacturing plants and safety processes as part of its smart manufacturing focus area, but AI is not a product or service it sells.
“Scaling AI, IIoT and automation across manufacturing and safety use cases”
Vijaya Diagnostic CenHealthcare Service ProviderGrowing₹14,797 CrP/E 78.9 vs 22.5ROCE 16.8%
The company operationally deploys AI-enabled radiology platforms and AI-powered imaging solutions across its diagnostic network to enhance workflow efficiency and detection accuracy, supporting its core radiology business.
“we deployed AI-powered solutions in urology and dental imaging, enabling faster, more precise detection and richer diagnostic insights while ensuring every report remains under the supervision of our expert radiologists.”
+1 more quote from the report
“Artificial intelligence is becoming an integral part of our diagnostic ecosystem, enhancing clinical workflows through advanced image analysis, case assessment and clinical evaluation.”
Apollo Micro SystemsAerospace & DefenseGrowing₹14,624 CrP/E 113.7 vs 73.9ROCE 10.4%
AI is one of AMS's three stated R&D technology pillars, operationally deployed in its products such as AI-sensor-fused anti-tank mines and autonomous underwater platforms, though it is sold embedded in defence systems rather than as a standalone AI business.
“Embedded AI for sensor fusion, autonomous targeting, threat classification, and battlefield analytics, a multiplier on every algorithm we design.”
Syngene InternationalHealthcare Research Analytics & TechnologyGrowing₹13,968 CrP/E 62.9ROCE 7.5%
Syngene operationally deploys AI/ML across drug discovery workflows via its 'Syn.AI' platform to accelerate research and decision-making for clients, but this is an embedded capability rather than a standalone product.
“We integrate artificial intelligence (AI) and machine learning (ML) capabilities across drug discovery workflows to support faster data analysis, improved decision-making and accelerated research timelines for clients.”
Zen TechnologiesAerospace & DefenseGrowing₹13,684 CrP/E 75.6 vs 73.9ROCE 15.1%
AI is operationally embedded across Zen's product portfolio - Hawkeye AI camera, AI-powered RCWS, AI-enabled simulators - with a dedicated Software and AI Development Centre and associate AI Turing Technologies, but not a standalone revenue line.
“Hawkeye, an AI-powered multi-sensor camera that lifts drone detection to 15 km, up from the earlier 7 to 8 km, with tracking accuracy of plus or minus 0.5 mrad.”
+1 more quote from the report
“BRANCH OFFICE (Software Division and AI Devlopment Centre) D. No: 2-91/77/2/ST/11&12, Signature Towers, Opp. Botanical Gardens, Kondapur, Serilingampally, Hyderabad, Telangana - 500084, India.”
Cartrade TechE-Retail/ E-CommerceGrowing₹13,571 CrP/E 58.3 vs 13.3ROCE 10.5%
AI/ML is operationally deployed across CarTrade Tech's platforms (personalised recommendations, AI-powered search, dealer CRM, dynamic valuation, chatbot) and embedded in SaaS products sold to dealers, OEMs and financial institutions, though it is not the core business.
“From predictive pricing and AI-driven listing automation to intelligent chatbots and dealer CRM tools, the Lab is already delivering measurable outcomes.”
GPIL currently operates AI-enabled surveillance for plant security, access control, geofencing and PPE compliance.
“Centralised Integrated Control Room (ICR) established for 24×7 monitoring of plant operations, PPE compliance, geo-fencing, and unauthorised access, powered by AI-enabled surveillance cameras”
Intl Gemological InstDiversified Commercial ServicesGrowing₹13,278 CrP/E 21.8 vs 13.6ROCE 58.1%
IGI has developed and operationally deployed an AI-powered diamond origin analyzer (IGI Origin) used in its certification workflow, and recorded its first commercial sale to an independent retailer.
“During FY 2025-26, we introduced IGI Origin, an advanced AI-powered diamond origin analyser designed to elevate speed, precision, and consistency in diamond screening.”
CEATTyres & Rubber ProductsGrowing₹12,864 CrP/E 22.0 vs 25.4ROCE 12.8%
CEAT has operationally deployed a generative AI-powered chatbot on its website to handle customer interactions, lead generation and product discovery, contributing to a 50% increase in dealer footfalls.
“A significant digital milestone during the year was becoming the first tyre brand to deploy an agentic, Generative AI-powered chatbot on its website.”
KPIT is operationally deploying AI across engineering projects for clients and is progressively shifting toward solutions and AI-driven services within its automotive/mobility software integration business.
“we initiated AI deployment across engineering areas in applicable projects during the year. Several key solutions were designed, piloted and deployed across projects delivering early success across multiple projects.”
+1 more quote from the report
“Extended AI Landscape: To further strengthen AI adoption across the organization and extend its capabilities to customers, the Company has established a hybrid AI infrastructure.”
Fujiyama has built and operationally deployed UTL AI, an in-house AI platform powering omnichannel sales, intelligent service, dealer coordination, predictive inventory and network expansion across its distribution-led energy business.
“Crucially, UTL AI is built in-house. This gives Fujiyama ownership of the intelligence that increasingly differentiates us- the data, the models and the workflows are our own, tuned to our products, our customers and our markets.”
JBM AutoAuto Components & EquipmentsGrowing₹12,464 CrP/E 40.8 vs 26.7ROCE 12.2%
JBM operationally deploys AI-enabled digital twins and AI-powered EMS in its Battery Management Systems and Energy Storage Systems for predictive maintenance and performance tracking.
“Custom-built for each application with advanced diagnostics, AI-enabled digital twins, and adaptive logic for extended lifecycle and safety”
Varroc EngineeringAuto Components & EquipmentsGrowing₹12,193 CrP/E 61.8 vs 26.7ROCE 15.0%
Varroc Smart Mobility platform deploys AI-powered algorithms and AI-driven analytics for fleet tracking, driver behavior monitoring, and video telematics as part of its connected products business.
“Our Smart Mobility solutions harness connected technologies, AI-powered analytics and cloud-native platforms to deliver real-time intelligence that enhances fleet efficiency, operational visibility and road safety.”
Amagi Media LabsIT Enabled ServicesGrowing₹12,029 CrP/E 122.2 vs 18.5ROCE 4.8%
Amagi sells a media-industry cloud platform with an embedded AI/intelligence layer; NEWSPULSE is its first paying agentic AI product, and the company is building a broader portfolio of agentic AI products across the media supply chain.
“NEWSPULSE, our first agentic AI product, moved from trials to its first paying customer during the year. This is an early but important proof point that our AI investments are beginning to commercialize.”
+1 more quote from the report
“Amagi AI focuses on leveraging artificial intelligence in the development of innovative media solutions, enhance data analysis and consumer insights, optimize media planning and execution, and improve overall efficiency in media operations and services.”
Home First operationally deploys AI/ML across its lending value chain — ML-based customer scoring, AI-enabled document interpretation, and voice-enabled capabilities in underwriting and collections — but AI is an enabler of its core housing finance business, not a standalone revenue line.
“AI and voice-enabled capabilities are now embedded across core platforms, driving efficiencies across lead generation, verification, underwriting, collections, and customer service.”
+1 more quote from the report
“Strengthen digital infrastructure and operational workflows to ensure seamless service continuity, while leveraging advanced AI/ML frameworks governed by ethical standards and data privacy protocols.”
Aptus operationally deploys ML-based bounce prediction models and proprietary ML credit scoring within its underwriting and collections technology stack, supporting its affordable housing finance business.
“We further strengthened our technology platform by implementing ML-based bounce prediction models, real-time delinquency dashboards, and integrating the Unified Lending Interface (ULI) into our underwriting process.”
CAN Fin HomesHousing Finance CompanyGrowing₹9,621 CrP/E 8.5 vs 11.1
Can Fin Homes has operationally deployed the Vani AI-powered virtual assistant chatbot and the Sampark AI-driven lead-generation application to support customer engagement and lead generation in its housing finance business.
“With the introduction of Vani Chatbot, our AI digital assistant on our corporate website, customers can now enjoy an elevated service experience.”
Axiscades TechAerospace & DefenseGrowing₹8,853 CrP/E 243.3 vs 73.9ROCE 12.3%
AI is delivered via the XiDA Inc AI-centric ESAI Platform — one of four focused growth engines — through AI-enabled products and domain-led AI applied across aerospace, defence and space programmes; AI is bundled within the ESAI revenue segment.
“We are concentrating leadership attention and capital investment into four distinct growth engines: Aerospace Manufacturing, SCM & MRO; Defence Solutions; XiDA Inc (the AI-centric ESAI Platform); and our newly formed Space division.”
Operationally deploys AI features (Parenting GPT, AI-powered product discovery and personalised shopping journeys, child-profile based recommendations) within its commerce platform and parenting community, but AI is an enabling feature, not a standalone revenue line.
“AI-powered tools such as Parenting GPT, and a full set of due-date calculators, vaccination and growth trackers, milestone trackers, baby name tools, Q and A forums, discussion groups and personalised parenting content.”
+1 more quote from the report
“Built on AI, machine learning and our own digital platforms, it stays with parents from pregnancy through childhood”
Tejas embeds AI across its networking product portfolio (AIOps, CAP, UFS, Autonomous Agentic AI, GenAI chatbot) and uses AI internally in SDLC, build pipelines and RCA, but AI is a feature of its telecom business rather than a standalone product.
“At Tejas Networks, we embed Artificial Intelligence across our entire product portfolio to transform network management—turning networks into intelligent, self-healing systems that predict and rectify issues before they happen.”
+1 more quote from the report
“driven by huge demand for data and network expansion, through adoption and rapid proliferation of Artificial Intelligence and technology such as 5G advanced and 6G.”
Shiprocket develops and operationally deploys in-house AI/ML models across its platform — including ISO-certified RTO prediction, checkout address pre-fill, delivery date prediction, courier recommendation and GenAI-powered CoPilot — though AI is not sold as a separate revenue line.
“Our ISO-certified AI-powered RTO prediction models identify high-risk orders before dispatch, while intelligent logistics allocation recommends the optimal shipping partner based on delivery timelines, cost and historical performance.”
+1 more quote from the report
“We are applying AI to reduce fraud and RTOs, improve pickups, shipping SLAs and dispute resolution, and enhance checkout and conversions through consumer intelligence.”
Thyrocare TechHealthcare Service ProviderGrowing₹7,959 CrP/E 29.3 vs 22.5ROCE 33.2%
Thyrocare operationally deploys AI-enabled tools across image analysis, pathology interpretation and predictive diagnostics, including the SigTuple automated microscopy platform, as part of its diagnostics operations.
“At Thyrocare, AI-powered tools are being used across the value chain to improve accuracy and reporting turnaround time.”
Eureka ForbesHousehold AppliancesGrowing₹6,587 CrP/E 36.6 vs 41.6ROCE 3.9%
Eureka Forbes operationally deploys AI across its service platform (hyper-personalisation, churn prediction, fraud detection) and within products such as AI-based obstacle detection in robotic vacuum cleaners.
“AI-powered hyper-personalisation engine that delivers segmented renewal offers and runs churn prevention models.”
Lohia runs a dedicated Digital Innovation Centre in Bengaluru focused on IoT and AI, with the Lohia IoT Gateway deployed in machines since 2022 (plus retrofits to 2011-era machines) and Digital Twin capabilities, though this is an embedded feature of its core machinery business rather than a standalone AI revenue line.
“Our Digital Innovation Centre in Bengaluru works on IoT and AI — machine monitoring, data visibility and operating insight.”
+1 more quote from the report
“The Company also leveraged digital and AI-enabled solutions to improve operational efficiency and product quality. AI-based Intelligent Defect Detection systems were utilized for automated identification of weaving faults and surface imperfections. The Lohia IoT App continued to strengthen customer engagement and machine connectivity.”
Rashi PeripheralsComputers Hardware & EquipmentsGrowing₹5,944 CrP/E 18.6 vs 27.0ROCE 18.0%
Distributes NVIDIA AI infrastructure (including DGX Spark systems) and runs multi-city AI Bootcamps and AI Factory Partner Enablement Workshops, generating real AI-related distribution revenue.
“As a prominent distributor for NVIDIA AI solutions, including the NVIDIA DGX Spark, we enabled SMBs, corporates and developers to deploy agentic AI, inferencing and on-premise LLMs.”
+2 more quotes from the report
“RP tech has strategically strengthened its capabilities in significant growth segments such as AI, enterprise solutions, embedded electronics, semiconductor technologies and digital learning solutions.”
“The Company conducted an eight-city AI Bootcamp, engaging more than 2,500 developers and over 300 CXOs to promote AI infrastructure adoption and enterprise utilization.”
Seshaasai TechnologiesFinancial Technology (Fintech)Growing₹5,752 CrP/E 18.6 vs 70.9ROCE 22.0%
The company is operationally deploying AI/ML inside its proprietary eTaTrak logistics platform and IOMS inventory/order-management platform, and is exploring AI and RPA across functions.
“Continued investments in AI and machine learning for our eTaTrak and IOMS platforms, supporting the evolution of intelligent logistics, inventory and customer-facing applications.”
The company is operationally deploying AI in its aftermarket service processes and in manufacturing (AI-enabled safety monitoring systems, cobots, intelligent digital process controls) to support its core AC business.
“During the year, we also began integrating Artificial Intelligence (AI) into selected service processes to improve responsiveness, accelerate issue resolution, and enhance customer convenience.”
AvenuesaiFinancial Technology (Fintech)Growing₹5,249 CrP/E 14.9 vs 70.9ROCE 6.2%
Infibeam has launched multiple real AI products — Phronetic.AI agentic marketplace, THEIA video AI platform, and AI-based fraud/risk analytics — with a ₹700 crore rights issue partly allocated to scale this business alongside payments.
“FY25 marked our decisive pivot toward artificial intelligence as a core business enabler. We launched the Global Agentic AI Marketplace - a pioneering initiative that empowers developers, enterprises, and consumers to build and deploy AI agents as digital co-workers.”
Definition used: Develops, sells or operationally deploys AI/ML models, platforms or AI-driven products and services. Generic "digital transformation" or aspirational AI language does NOT qualify. Membership is extracted from each company’s newest annual report; every quote is validated against the report page before publishing, and core/growing tiers are confirmed by a second independent read (marked ). Companies whose reports our corpus hasn’t read yet simply aren’t listed — absence means unread, not “no exposure”.
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