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
PTC IndustriesCastings & ForgingsGrowing₹37,150 CrP/E 295.8 vs 27.7ROCE 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
Chennai Petroleum CorpRefineries & MarketingGrowing₹23,900 CrP/E 5.7 vs 7.8ROCE 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
Data Patterns IndiaAerospace & DefenseGrowing₹23,702 CrP/E 88.4 vs 76.4ROCE 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₹23,618 CrP/E 62.3ROCE 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
Belrise IndustriesAuto Components & EquipmentsGrowing₹21,976 CrP/E 41.3 vs 27.0ROCE 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₹19,306 CrP/E 29.5 vs 15.9ROCE 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₹16,149 CrP/E 85.4 vs 76.4ROCE 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₹15,310 CrP/E 119.1 vs 76.4ROCE 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₹8,454 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₹8,124 CrP/E 92.7 vs 28.8ROCE 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₹2,037 CrP/E 69.8ROCE 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₹540 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₹445 CrP/E 52.0 vs 18.9ROCE 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₹255 CrP/E 62.0 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
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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