Space Technology

Companies building for space — satellites, launch systems, ground infrastructure — tiered by how much of the business it actually is.

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
MTAR TechnologiesOther Electrical EquipmentCore business₹24,146 CrP/E 180.9 vs 24.6ROCE 12.4%

MTAR supplies propulsion and cryogenic engine sub-assemblies (turbo pumps, gas generators, injector heads) for ISRO's space launch vehicles, with new products under development for Gaganyaan.

“In the Aerospace and Defence sector, the Company plays a key role by delivering mission-critical assemblies such as turbo pumps, booster pumps, gas generators, and injector heads for liquid propulsion and cryogenic engines used in Space Launch Vehicles.”

MTAR Technologies Ltd - 543270 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 36
PTC IndustriesCastings & ForgingsGrowing₹36,700 CrP/E 292.2 vs 26.9ROCE 7.5%

PTC lists 'Space & Strategic Components' as a product category and serves launch vehicles/spacecraft with propellant tanks, propulsion nozzles, bulkheads and pump casings, indicating real but secondary space-sector exposure.

“We deliver precision-engineered components for launch vehicles and spacecraft, optimised for mass efficiency, structural resilience, and thermal resistance.”

Annual Report · p. 12
Data Patterns IndiaAerospace & DefenseGrowing₹23,020 CrP/E 85.9 vs 73.9ROCE 20.3%

The company has a stated domain capability in Satellite Systems and is developing products including a Space Surveillance and Tracking Radar and a Bi-Static Radar for tracking objects in deep space.

“Robust domain capability in Radars, Electronic Warfare, Communication systems, Avionics & Satellite Systems”

Annual Report · p. 23
ITITelecom - Equipment & AccessoriesGrowing₹22,817 CrP/E 60.1ROCE 14.0%

ITI is accredited by ISRO's VSSC to perform component screening, testing, and assembly of space-grade flight packages.

“Accreditation of VSSC (Vikram Sarabai Space Centre, Trivandrum) for Component Screening, Test & Evaluation, Assembly & Testing of flight Packages.”

Annual Report · p. 33
Chennai Petroleum CorpRefineries & MarketingGrowing₹22,768 CrP/E 5.5 vs 7.5ROCE 31.9%

ISROSENE is a specialty rocket propellant fuel produced by CPCL for ISRO's launch vehicle programmes, representing a niche but real supply into India's space programme.

“Speciality products - Mineral turpentine oil, Hexane, JP-5, JP-7, ISROSENE”

Annual Report · p. 9
Belrise IndustriesAuto Components & EquipmentsGrowing₹20,877 CrP/E 39.2 vs 26.7ROCE 10.9%

Manufactures satellite structural parts via its UK-acquired entity Chester Hall, part of Belrise's broader aerospace, defence and space platform targeting 10% of manufacturing revenues.

“Chester Hall produces precision-machined aerostructure, aero-engine and satellite components for leading global aerospace customers.”

Belrise Industries Ltd - 544405 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 35
Tata ElxsiComputers - Software & ConsultingGrowing₹18,664 CrP/E 28.5 vs 15.6ROCE 25.7%

Tata Elxsi supplies engineering services to ISRO's Gaganyaan human spaceflight programme, providing ongoing support in frontier aerospace technologies.

“Continued to extend support to Indian Space Research Organisation for the Gaganyaan mission programme.”

Annual Report · p. 15
Astra MicrowaveAerospace & DefenseGrowing₹15,556 CrP/E 82.3 vs 73.9ROCE 17.2%

Space electronics is a real business segment (ISRO supplies, Space Electronics product line, ASTPL subsidiary building ASTRA SAT constellation targeting 2027-28) being demerged for sharper focus, currently smaller than defence.

“Astra Space Technologies Private Limited: A wholly owned subsidiary engaged in the design, development and integration of satellites and satellite payloads, as well as the establishment of ground stations for satellite tracking and communication.”

Astra Microwave Products Ltd - 532493 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 7
+1 more quote from the report

“The Company will bring to this nascent business (two verticals) a commitment of accelerated growth and a strong focus on supplying electronic subsystems for satellite programmes and scientific applications.”

Astra Microwave Products Ltd - 532493 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 26
Apollo Micro SystemsAerospace & DefenseGrowing₹14,624 CrP/E 113.7 vs 73.9ROCE 10.4%

AMS supplies indigenous payload checkout systems and other space-qualified electronics to ISRO, reflecting a real but minority line of business within its broader defence and aerospace portfolio.

“First Indigenous Payload Checkout System is supplied to ISRO, replacing Legacy Imported Systems”

Apollo Micro Systems Ltd - 540879 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 5
+1 more quote from the report

“Fully Integrated Company capabilities spanning design, development, testing and scale manufacturing across missile systems, satellite and space technology, naval systems, aircraft electronics and homeland security.”

Apollo Micro Systems Ltd - 540879 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 32
Tejas NetworksTelecom - Equipment & AccessoriesGrowing₹8,205 CrROCE -37.1%

Tejas manufactures satellite ground terminals, hub equipment and Sat-IoT products for LEO/MEO/GEO connectivity as part of its product portfolio.

“Compact satellite terminals and hub equipment for LEO/MEO/GEO links, extending connectivity to rural and maritime users.”

Annual Report · p. 18
Omnitech EngineeringIndustrial ProductsGrowing₹7,780 CrP/E 88.7 vs 28.5ROCE 13.4%

Omnitech is pursuing space as a strategic growth vector alongside aerospace/defence, working on First Article qualifications and special-process certifications to enter space-grade supply chains.

“Aerospace, Defence and Space continue to represent a strategic growth vector, with the Company focused on converting First Article development orders into repeat production programmes and progressing special-process qualifications to unlock further opportunities in this high-value segment.”

Omnitech Engineering Ltd - 544720 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 36
Valiant CommunicationsTelecom - Equipment & AccessoriesGrowing₹1,975 CrP/E 67.7ROCE 32.6%

Valiant supplies space-grade synchronization/timing components (GPS/GNSS/NavIC NTP servers, PTP grandmasters) to satellite operators and launch-vehicle companies such as Space Norway and Space One Japan.

“Supplied synchronization products to Space Norway AS, Space One Co. Ltd. (Japan), Turkmenergo (Turkmenistan), DTV Network, and the U.S. Armed Forces for satellite and defence synchronization requirements.”

Valiant Communications Ltd-$ - 526775 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 33
Kavveri DFS & WIR TecTelecom - Equipment & AccessoriesGrowing₹554 CrROCE 1.1%

Kavveri designs space-qualified antennas and microwave subsystems and has been engaged with the space industry since inception, with deep-space and high-gain solutions in its R&D pipeline.

“Kavveri's portfolio, from high-power multiband and pentaband antennas to space-qualified antennas, is already engaged there.”

Kavveri Defence & Wireless Technologies Ltd-$ - 590041 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 13
A C S TechnologiesIT Enabled ServicesGrowing₹436 CrP/E 50.9 vs 18.5ROCE 7.9%

ACS lists 'Space-Ground' as one of nine business domains, references satellite ground infrastructure work, and reports taking early steps into the space-defence domain.

“Our work in railway safety electronics, our early steps into the space-defence domain, and our AI capabilities position us to capture a meaningful share of this expanding market.”

ACS Technologies Ltd - 530745 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 7
R.P.P Infra ProjectsCivil ConstructionGrowing₹263 CrP/E 63.9 vs 14.6ROCE 2.0%

RPP is constructing the NASPF and NDTF facilities at ISRO's SSLV launch complex in Tamil Nadu, supplying construction services to India's space launch programme.

“Construction of Nozzle assembly and segment preparation facility (NASPF) at SSLV Launch Complex , Thiruchendur and Sathankulam Taluk ,Tuticorin District for Rs. 22.52 crores.”

R P P Infra Projects Ltd - 533284 - 31St Annual General Meeting Notice & Annual Report For FY 2025-26 · Sept 2026 · p. 28
Bharat DynamicsAerospace & DefenseAnnounced₹38,507 CrP/E 73.9 vs 73.9ROCE 7.2%

BDL's Business Diversification Matrix lists 'Specialised Warhead Manufacturing & Space Application Components' as a planned new vertical under its FY 2026-27 expansion, with no current revenue yet.

“Specialised Warhead Manufacturing & Space Application Components.”

Bharat Dynamics Ltd - 541143 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 19
Sansera EngineeringAuto Components & EquipmentsAnnounced₹25,773 CrP/E 73.7 vs 26.7ROCE 12.5%

Sansera's strategic investment in MMRFIC provides exposure to developing radar and space programmes.

“Our strategic investment in MMRFIC progressed further this year, offering meaningful exposure to deep-technology radar and space programmes being developed under the Make in India initiative.”

Sansera Engineering Ltd - 543358 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 30
Avalon TechnologiesOther Electrical EquipmentAnnounced₹15,353 CrP/E 114.8 vs 24.6ROCE 20.0%

Avalon completed prototypes for satellite communication control units in FY2026, with volume orders expected from FY2027.

“We also completed prototypes for satellite communication control units, with volume orders expected to commence in FY2027”

Avalon Technologies Ltd - 543896 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 11
Axiscades TechAerospace & DefenseAnnounced₹8,853 CrP/E 243.3 vs 73.9ROCE 12.3%

A Space Division has been formalised as one of four post-balance-sheet growth Platforms targeting satellite-bus manufacturing and payload integration, but no FY2026 revenue is reported.

“The Space division can apply aerospace and defence capabilities to satellite-bus manufacturing, payload integration and related systems.”

Axiscades Technologies Ltd - 532395 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 18
+1 more quote from the report

“Space has no contribution to FY2026 revenue. It remains an emerging Platform in which commercial participation is linked to partner agreements, customer programmes, authorisation, qualification and investment gates.”

Axiscades Technologies Ltd - 532395 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 33
JTL DefenceAnnounced₹693 CrP/E 159.8ROCE 0.0%

Proposed new object clause (subject to AGM approval) enables manufacturing of components for Space Research & Exploration as part of an expanded Defence and Space sector business scope.

“Components used in Defence and Space sector for applications such as Rocket & Missile, Electronic warfare & surveillance, Battle tanks & armoured vehicles, other Land systems, Arms & ammunitions, Naval systems, Space Research & Exploration, Drones & Counter UAVs etc.”

JTL Defence Ltd - 537254 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 14
VL E GOV and IT SolVLEGOVAnnounced₹102 CrROCE -2.5%

Through the announced 40% stake in HAL-Edgewood Technologies, VLEG gains exposure to HETL's satellite-technology initiatives alongside its aviation and defence work.

“The company is advancing initiatives in chip-level encryption and digital design, reinforcing its commitment to innovation in high-value sectors such as aviation, satellite technology, and defence applications.”

VL E-Governance & IT Solutions Ltd - 543958 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 24
SVC IndustriesDiversified Commercial ServicesAnnounced₹47 CrROCE -0.6%

Proposed alteration of objects clause lists Space Research & Exploration as one of the applications and 'Space' alongside Defence and Aerospace in the intended business scope.

“technologies required for Defence, Space, Aerospace and allied industry, and to act as drone specialists, counsellors, advisors, programmers”

SVC INDUSTRIES Ltd - 524488 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 6
WiproComputers - Software & ConsultingMention-only₹1.57 L CrP/E 12.6 vs 15.6ROCE 17.1%

Space technology is listed as one of five frontier technology themes of Wipro's Innovation Network, with no specific operations described.

“With a strategic focus on five frontier technology themes, i.e. Fully autonomous agentic AI, Distributed ledger technology, Embodied AI, Quantum computing and Space tech”

Annual Report · p. 25
Jindal StainlessIron & SteelMention-only₹58,173 CrP/E 17.9 vs 15.2ROCE 15.8%

Space is listed as one of several end-markets served with stainless steel grades; no specific space-programme contracts or products are described.

“The Company manufactures over 120 stainless steel grades, serving sectors such as transportation, infrastructure, defence, nuclear energy, and space”

Jindal Stainless Ltd - 532508 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 36
Kaynes Technology IndIndustrial ProductsMention-only₹21,672 CrP/E 62.6 vs 28.5ROCE 9.8%

Space/aerospace appears as a small revenue category served through electronics assemblies; Kaynes is not a satellite or launch-vehicle builder.

“Aerospace, Outer-space, and Strategic Electronics 1%”

Annual Report · p. 29
Datamatics Global SerIT Enabled ServicesMention-only₹4,418 CrP/E 20.4 vs 18.5ROCE 14.5%

Space technology is referenced only as part of broader industry horizon commentary in the CEO's message, with no Datamatics business activity in satellites, launch vehicles or space-grade components.

“We are entering a new era where artificial intelligence, quantum computing, humanoid bots, autonomous vehicles, and space technology including satellite internet, ecosystems are rapidly moving from experimentation to large-scale real-world adoption.”

Datamatics Global Services Ltd - 532528 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 14
Paramount CommCables - ElectricalsMention-only₹1,682 CrP/E 27.7 vs 26.8ROCE 10.2%

Space is only listed as one of several served sectors with no specific products, contracts, or revenue disclosed.

“Our diverse portfolio caters to a wide range of sectors, including power transmission and distribution, railways, telecom, renewable energy, defence, space, data centers, construction, IT, and oil & gas.”

Paramount Communications Ltd-$ - 530555 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 9
Suyog TelematicsTelecom - InfrastructureMention-only₹750 CrP/E 12.3 vs 12.3ROCE 10.2%

The MD's message lists low-orbit satellite technology and ground-receiver systems as one of several R&D/exploration initiatives, with no current revenue or deployed capability.

“exploration of low-orbit satellite technology and ground-receiver systems. These initiatives remain at different stages of trial, evaluation or development”

Suyog Telematics Ltd - 537259 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 8
Scoda TubesIron & Steel ProductsMention-only₹713 CrP/E 19.1 vs 17.0ROCE 12.0%

Satellite Ground Stations is listed as a dedicated application for SS Instrumentation Tubes, but only as aspirational marketing language with no evidence of actual space-sector supply or revenue.

“Satellite Ground Stations”

Scoda Tubes Ltd - 544411 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 10
Hitech CorporationHITECHCORPMention-only₹601 CrP/E 34.3ROCE 5.4%

Aerospace is named as an untapped sector Thriarr plans to enter; no specific space-grade products, satellites or launch activity is described.

“The Company aims to strengthen its presence in the US market, expand into untapped sectors such as Railways, Defense and Aerospace, and enhance its offerings through advanced thermoset and thermoplastic processing supported by global certifications.”

Hitech Corporation Ltd-$ - 526217 - Notice Of 35Th Annual General Meeting To Be Held On September 24, 2026 And Annual Report For FY 2025-26. · Sept 2026 · p. 12
CranexIndustrial ProductsMention-only₹73 CrP/E 24.6 vs 28.5ROCE 10.7%

Department of Space is listed as a customer relationship for crane supply; no indication of building or operating space-grade technology as a business.

“along with our relationships with BHEL, L&T, Defence Establishment, Department of Space, Vedanta Group and Voith Hydro”

Cranex Ltd - 522001 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 3
How this list is built

Definition used: Builds or operates satellites, launch vehicles, ground stations or space-grade components; supplies ISRO/commercial space programmes. 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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