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
AplabOther Electrical EquipmentGrowing₹108 CrP/E 41.6 vs 24.6ROCE 12.0%
Aplab has a strategic focus on domestic defence, supplying backup and ground power systems to armed forces/defence customers.
“The Company strategically focused on higher-margin domestic defence business, which has provided resilience against tariff-related challenges faced by other manufacturers.”
Kranti IndustriesAuto Components & EquipmentsGrowing₹64 CrP/E 19.4 vs 26.7ROCE 2.9%
Kranti entered the defence sector during FY26 via business engagements with Armoured Vehicles Nigam Limited (AVNL), supplying precision-machined components as a new growth vertical beyond its core auto/agri/CE business.
“Among the most significant milestones of the year was our successful entry into the defence sector through business engagements with Armoured Vehicles Nigam Limited (AVNL).”
+2 more quotes from the report
“Kranti Industries caters to a diversified portfolio of leading OEMs across the automotive, agriculture, commercial vehicle, construction equipment, industrial engineering and defence sectors.”
“the Company also commissioned its fourth manufacturing facility in Jaipur and made its formal entry into the defence sector, thereby opening up a new and strategically important avenue for long-term growth.”
Fine-line CircuitsComputers Hardware & EquipmentsGrowing₹30 CrP/E 262.5 vs 27.0ROCE 0.1%
The company supplies PCBs to the defence market and identifies domestic defence as an ongoing growth driver alongside its main commercial PCB business.
“Space (Domestic and Global) and Defence (Domestic) are growth drivers for the Company.”
Takyon NetworksIT Enabled ServicesGrowing₹25 CrP/E 6.5 vs 18.5ROCE 7.8%
Defence is identified as one of the key end-sectors served, with a significant share of revenue coming from competitively bid defence and government tenders.
“A significant part of our revenue base is secured through competitively bid government, defence, and institutional tenders.”
Vama is actively delivering solutions and implementing projects for India's Defence sector as a stated area of current business operations.
“Vama is actively engaged in delivering innovative solutions to clients in the Space and Defense sectors, while also providing specialized cloud computing support to niche customers. The company has been implementing projects across India for organizations such as ISRO, the Defense sector, and is increasingly taking on turnkey assignments.”
The company supplies precision aluminium components for heavy-duty defence vehicles; defence began as a customer in FY24-25 and is a stated focus sector, but is not yet a main revenue driver.
“DEFENCE Representative products include intake pipes, cylinder heads, oil cooler covers, intake manifolds and bearing frames for heavy-duty applications.”
Defence is listed as one of the critical industries SBVCL serves with valve components, though it is not the primary end-market (oil & gas appears dominant).
“SBVCL has strengthened its position across critical industries, including oil & gas, power generation, pharmaceuticals, and defence.”
The company supplies bleached cotton linter pulp to Munitions India Limited for use in ammunition production, representing a real but supplementary revenue stream alongside its core spinning and medical textile operations.
“The Company is also getting regular orders from the Defence Industry i.e. Munitions India Limited for supply of pulp which is used in production of ammunitions.”
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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