India’s defense sector is experiencing significant growth, driven by increased government spending and a focus on indigenization. Here are key defense-related companies in India, along with their recent performance, products, and partnerships:
1. Hindustan Aeronautics Limited HAL : Hindustan aeronautics Limited Share is one of the biggest India’s aircraft supplier to Indian Air Force, Navy and other government agency.
HAL is India’s premier aerospace and defense company, specializing in the design and manufacture of aircraft, helicopters, and related systems. In Q3 FY25, HAL reported a 14% increase in net profit to ₹1,440 crore, driven by strong demand for its aircraft from the defense ministry. The company secured a significant order worth ₹13,500 crore for 12 Sukhoi fighter jets in December 2024 .
2. Bharat Electronics Limited (BEL)Bharat Electronics Ltd (BEL) :- Bharat Electronics Limited (BEL) is a leading Indian Navratna PSU specializing in defense electronics. It designs, manufactures, and supplies advanced electronic systems, including radars, missile systems, communication equipment, electronic warfare systems, and cybersecurity solutions, primarily for the Indian armed forces (81% of revenue). BEL also serves non-defense sectors (19%) like aerospace, telecommunications, solar energy, and EV charging infrastructure. With a strong R&D focus and a debt-free balance sheet, BEL supports India’s “Make in India” initiative and exports to countries like the US and Israel.
BEL is a leading manufacturer of advanced electronic products for the Indian Armed Forces. The company reported a 38.4% rise in quarterly profit, reflecting strong performance in its defense electronics segment . BEL’s product portfolio includes radars, communication systems, and electronic warfare equipment.
3. Garden Reach Shipbuilders & Engineers (GRSE)
GRSE is a prominent shipbuilding company specializing in the construction of warships and auxiliary vessels. As of June 30, 2024, GRSE’s order book stood at ₹25,231.29 crore, including 18 warships and four export projects . The company has also diversified into the manufacture of weaponry, signing a contract with the Indian Navy for the supply of ten 30mm Naval Surface Guns with Electro-Optical Fire Control Systems.
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4. Mishra Dhatu Nigam Limited (MIDHANI)Mishra Dhatu Nigam Limited (MIDHANI) :- Mishra Dhatu Nigam Limited (MIDHANI) is a premier metallurgical enterprise under the Ministry of Defence, Government of India, established in 1973 and headquartered in Hyderabad. Specializing in the production of superalloys, titanium alloys, special steels, and other advanced materials, MIDHANI plays a pivotal role in supporting India’s strategic sectors, including defense, space, nuclear energy, and aerospace
MIDHANI specializes in the production of special metals and alloys for defense, aerospace, and other strategic sectors. In FY 2023-24, the company recorded its highest-ever sales of ₹1,065 crore, with exports reaching ₹66.88 crore . MIDHANI’s products are critical for the manufacturing of missiles, aircraft, and other defense equipments.
5. Mazagon Dock Shipbuilders Limited (MDL)Mazagon Dock Shipbuilders Limited (MAZDOCK)
Mazagon Dock Shipbuilders Limited (MDL) stands as a formidable force in India’s defense manufacturing sector, renowned for its prowess in constructing advanced warships and submarines. In Q3 FY25, MDL reported a consolidated revenue of ₹3,143.62 crore, marking a 33% year-on-year growth, and a net profit of ₹807.04 crore, reflecting a 28.8% increase from the previous year. (Mazagon Dock Shipbuilders Limited, Business News India)
MDL’s product portfolio is extensive, encompassing stealth frigates, guided missile destroyers, submarines, offshore patrol vessels, and various support vessels. Notably, in December 2024, MDL delivered the ‘NILGIRI’, the first stealth frigate of the Project 17A class, and the ‘SURAT’, the fourth stealth destroyer of the Project 15B class, to the Indian Navy. (Mazagon Dock Shipbuilders Limited)
The company has also expanded its global footprint, collaborating with France’s Naval Group to enhance submarine capabilities, aiming to bolster the Indian Navy’s underwater defense systems. Additionally, MDL is actively pursuing export opportunities, with exports contributing to its revenue stream. (Capital Market Research, CNBCTV18)
MDL’s commitment to the ‘Atmanirbhar Bharat’ initiative is evident through its efforts to indigenize equipment and systems on warships and submarines, reducing dependence on foreign OEMs and promoting self-reliance in defense manufacturing. (Mazagon Dock Shipbuilders Limited)
With a robust order book, strategic partnerships, and a focus on innovation and indigenization, Mazagon Dock Shipbuilders Limited continues to play a pivotal role in strengthening India’s maritime defense capabilities.
These companies play a crucial role in strengthening India’s defense capabilities and are poised for continued growth amid increasing defense budgets and a focus on self-reliance.
📢 Disclaimer
This blog is for educational purposes only and is not a stock recommendation. Always consult your financial advisor and conduct your own research before making any investment decisions.
