Defence

Companies that supply India's defence establishment, per their own filings — from companies whose business IS defence down to those with a first order, each tier evidenced.

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
HCL TechnologiesComputers - Software & ConsultingMention-only₹3.54 L CrP/E 20.9 vs 19.5ROCE 26.2%

HCLTech maintains a named Aerospace & Defense practice within its leadership structure, but the provided text contains no revenue, contract or quantitative disclosure of defence business scale.

Chief Growth Officer and Global Head, Public Sector, Aerospace & Defense and PE Practice

Annual Report · p. 33
SiemensHeavy Electrical EquipmentMention-only₹1.40 L CrP/E 107.7 vs 33.9ROCE 20.6%

Aerospace and defence are flagged as emerging growth areas only, with no disclosed supply of defence equipment, platforms or services to armed forces.

emerging high growth areas such as renewables, batteries, data centers, semiconductors, aerospace and defense.

Annual Report · p. 8
Welspun CorpIron & Steel ProductsMention-only₹60,442 CrP/E 36.7 vs 16.9ROCE 14.9%

Stainless steel bars and pipes business is named as positionable to serve defence, but text presents it only as one of several aspirational end-sectors, not a current principal business.

our Stainless Steel Bars, and Pipes & Tubes business is well-positioned to leverage the evolving needs of high-value sectors including Power & Energy, Defense, Nuclear Power, Petrochemicals, Shipbuilding, and Critical Public Infrastructure.

Annual Report · p. 26
Navin Fluorine Int.Specialty ChemicalsMention-only₹41,943 CrP/E 52.7 vs 30.0ROCE 16.4%

Defence listed merely as a prospective application area for the incubating Advanced Materials business; no concrete orders or commitments.

Incubated a new business vertical, namely Advanced Materials, comprising both product and service play with niche applications in emerging sectors such as semiconductor manufacturing, data centres, and defence

Annual Report · p. 18
+1 more quote from the report

Rise in demand for inorganic chemicals from emerging sectors, including niche chemistry applications in semiconductor manufacturing, renewables and defence

Annual Report · p. 31
Shyam Metalics And Engy LIron & Steel ProductsMention-only₹27,412 CrP/E 26.9 vs 16.9ROCE 11.4%

Defence is referenced only as one of the export end-markets for aluminium foil, not as a dedicated business line.

Internationally, our export footprint is growing as aluminium foil reaches defence and packaging markets abroad.

Annual Report · p. 11
SPR Auto TechnologiesAuto Components & EquipmentsMention-only₹20,259 CrP/E 36.3 vs 26.9ROCE 16.6%

Defence engines are listed as one of several non-automotive diversification applications, but no dedicated defence business segment or revenue figures are disclosed.

the Company continued to diversify its revenue streams through increased contribution from exports, aftermarket and non-automotive applications, including railways, snowmobiles, compressors, marine, defence and industrial engines.

Annual Report · p. 10
Aarti IndustriesSpecialty ChemicalsMention-only₹19,113 CrP/E 35.3 vs 30.0ROCE 4.4%

Defence is mentioned only as a future market the company plans to expand into via its process chemistry expertise; no current defence contracts, products or revenue are described.

We plan to expand our reach into new markets by leveraging our deep value-chain integration and proven process expertise in areas such as defence, electronics, energy storage, advanced polymers, agrochemicals, and pharmaceutical intermediates.

Annual Report · p. 16
Jindal SawIron & Steel ProductsMention-only₹18,731 CrP/E 23.1 vs 16.9ROCE 6.8%

Defence is mentioned only as an emerging sector where the company aspires to develop a foothold, with no current defence revenue or orders described in the opening section.

Our focus is on increasing our participation in value-added segments and developing a foothold in emerging sectors, specifically defence and aerospace, bolstering our commitment to long-term growth and national self-reliance.

Annual Report · p. 16
Triveni TurbineHeavy Electrical EquipmentMention-only₹18,317 CrP/E 47.2 vs 33.9ROCE 31.8%

Triveni has obtained DGAQA / Ministry of Defence supplier certification, but no defence revenue or orders are mentioned in this text.

Notably, Triveni has received certification from the Directorate General of Aeronautical Quality Assurance (DGAQA) and is now a Ministry of Defence-certified supplier.

Annual Report · p. 28
Amara Raja Energy MobAuto Components & EquipmentsMention-only₹16,845 CrP/E 18.5 vs 26.9ROCE 13.9%

Defence exposure only flagged as a future outlook driver (replacement demand from defence communication applications), with no current revenue or contracts described.

Replacement demand from defence communication applications is also expected to contribute to business volumes in the coming years.

Annual Report · p. 24
Shaily Eng PlasticsPlastic Products - ConsumerMention-only₹15,269 CrP/E 98.5 vs 15.6ROCE 28.3%

Defence identified as an aspirational opportunity area in outlook commentary, with no current business activity described.

The present environment presents unprecedented opportunities in defence, semiconductors, rail, and aerospace. We are strategically positioned to capitalise on these developments.

Annual Report · p. 19
Ramkrishna ForgingsAuto Components & EquipmentsMention-only₹13,337 CrP/E 95.7 vs 26.9ROCE 2.0%

MD&A highlights defence & aerospace as a high-growth vertical boosting domestic forging demand; referenced as an industry-level opportunity for forging players rather than a stated Company segment.

Defence and Aerospace: The sector emerged as a high-growth vertical with increasing order books for artillery systems, armoured vehicles, and aerospace components.

Annual Report · p. 35
JK Tyre & IndustriesTyres & Rubber ProductsMention-only₹10,668 CrP/E 13.8 vs 24.1ROCE 9.9%

JK Tyre supplies some OTR and speciality tyres used in defence-linked applications as part of a broader specialty portfolio.

In OTR and speciality tyres, new launches for construction, mining, access equipment and defence-linked applications expanded our participation in higher-value use cases.

Annual Report · p. 22
Tejas NetworksTelecom - Equipment & AccessoriesMention-only₹9,286 CrROCE -37.1%

Defence is listed as a target application area for Tejas' mission-critical networking products, with no specific defence contracts or revenue disclosed.

Applications: Networks for defense, utilities, government, enterprise, campus networking, smart cities.

Annual Report · p. 17
Vishnu ChemicalsSpecialty ChemicalsMention-only₹4,222 CrP/E 27.2 vs 30.0ROCE 13.5%

Defence appears only as one item in a list of broader industry sectors whose growth drives demand for speciality chemicals; VCL does not describe itself as a defence supplier.

Global investments across magnets, batteries, electronics, aerospace, defence, renewable energy and advanced industrial manufacturing are driving new demand for speciality and inorganic chemicals.

Vishnu Chemicals Ltd - 516072 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 4
Prostarm Info SystemsOther Electrical EquipmentMention-only₹823 CrP/E 17.3 vs 25.2ROCE 14.9%

Defence listed as one of the served industry sectors, but no specific defence equipment, ordnance or defence-PSU contracts are described in this section.

Strong presence across Healthcare, Railways, Defence, Telecom, Aviation and Other Industrial Sectors

Prostarm Info Systems Ltd - 544410 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 5
Master ComponentsMASTERMention-only₹186 CrP/E 12.0ROCE 24.0%

Defence is referenced only as one of several end-sectors the company serves, with no orders, revenue figures or specific defence products disclosed in the opening section.

What began as a modest workshop in Nashik with a small team and a single moulding machine has, over the past twenty-six years, grown into a publicly listed precision manufacturing enterprise serving customers across the electrical, automotive, industrial, healthcare and defence-aligned sectors.

Annual Report · p. 7
Ema IndiaIndustrial ProductsMention-only₹69 CrP/E 8.9 vs 23.8ROCE 157.0%

The company amended its objects clause to include explosives, ammunition and allied products (ordnance), but has no revenue, operations, or capex in this area.

the Company amended the Object Clause of its Memorandum of Association with a approval from Shareholders of the Company to incorporate additional business activities relating to electronic components and devices, audio-visual and electronic equipment, as well as explosives, ammunition and other allied products.

EMA India Ltd - 522027 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 20
+1 more quote from the report

the Company amended the Object Clause of its Memorandum of Association to incorporate additional business activities relating to electronic components and devices, audio-visual and electronic equipment, as well as explosives, ammunition and other allied products.

EMA India Ltd - 522027 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 28
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How this list is built

Definition used: Supplies equipment, systems, components or services to armed forces or defence PSUs — ordnance, platforms, electronics, shipbuilding, aerospace defence.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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