Best Defence Stocks

Track key players in India’s self-reliance defence push, backed by strong order books.

Name	Price (Rs)	Market Cap (Rs Cr)	ROE (%)	ROCE (%)	Debt/Eq (x)	Sales var 3yrs (%)	Profit var 3yrs (%)	P/E (x)	P/BV (x)	EV/EBITDA (x)
Bharat Electronics	415.60	3,03,794.41	26.64	33.72	0.00	15.65	30.42	53.34	14.09	27.80
Hindustan Aeronautics	4,518.20	3,02,165.92	23.91	17.41	0.00	7.96	18.05	35.68	8.14	19.81
Solar Industries India	13,347.15	1,20,778.43	27.57	30.08	0.21	24.07	39.94	91.45	23.61	50.27
Mazagon Dock Shipbuilders	2,511.60	1,01,312.92	30.39	34.50	0.00	25.86	56.90	43.41	11.37	28.44
Bharat Dynamics	1,536.10	56,307.67	13.71	10.18	0.00	5.89	1.00	86.08	13.35	51.97
Cochin Shipyard	1,608.00	42,303.39	14.82	19.00	0.01	14.74	13.44	55.70	7.43	26.81
Garden Reach Shipbuilders & Engineers	2,506.00	28,706.73	25.36	32.36	0.00	42.41	38.80	46.57	12.50	20.58
BEML	1,859.75	15,489.67	10.13	11.43	0.08	-2.48	31.45	52.35	5.36	25.81
Data Patterns (India)	2,695.00	15,087.68	14.70	19.67	0.00	31.59	33.15	64.63	9.81	29.06
Zen Technologies	1,319.15	11,910.65	16.47	23.07	0.03	140.78	398.31	48.04	6.63	28.85
Astra Microwave Products	989.00	9,390.06	13.97	20.84	0.39	11.89	59.44	58.29	8.08	23.48
MTAR Technologies	2,552.55	7,851.54	7.25	11.15	0.24	28.04	-4.58	175.48	10.55	32.55
Mishra Dhatu Nigam	362.00	6,781.71	7.83	8.32	0.17	7.71	-14.38	63.00	4.70	21.24
Dynamatic Technologies	9,044.55	6,142.55	5.99	10.92	0.63	3.85	40.65	182.27	8.03	25.51
Paras Defence and Space Technologies	693.60	5,589.54	10.61	13.64	0.04	25.94	32.83	79.55	8.32	35.86
Unimech Aerospace and Manufacturing	907.05	4,612.97	12.47	14.86	0.11	88.36	190.85	57.98	6.53	41.45
Cyient DLM	407.85	3,236.88	7.17	11.14	0.26	NM	NM	37.54	3.28	21.93
DCX Systems	188.20	2,096.29	2.82	5.16	0.00	-0.57	-13.28	81.47	1.44	18.31

Data Source: Dion Global
Note: Company data is consolidated; Exceptional items, minority interest excluded

Jan 7, 2026, 4:01 PM IST

The largest company, by revenues, in the Defence sector is Hindustan Aeronautics. Its revenues for the most recent year ended is Rs 30,980.95 cr.

Hindustan Aeronautics has a market capitalisation of Rs 3,02,165.92 cr. Over the previous 12 months, Hindustan Aeronautics’s share price gained 8.58%.

You can get the latest share price and detailed financials of Hindustan Aeronautics here.

Also, you can see the latest share price performance of all defence stocks here.

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Why Use This Screener?

This defence stocks screener helps you explore companies tied to defence production, R&D, and indigenisation.

Government Policy Push

‘Atmanirbhar Bharat’ and import curbs have accelerated local defence manufacturing.

Multi-Year Order Visibility

Defence contracts are typically long-term, providing stable earnings over the years.

Dual Civil-Military Use

Many defence firms, such as Bharat Electronics , Hindustan Aeronautics , and DCX Systems also serve aerospace, railways, and electronics, diversifying revenue streams.

High-Tech Edge

Players involved in radars, drones, missiles, or avionics command premium valuations due to niche capabilities.

FAQs on Best Defence Stocks

Are defence stocks recession-proof?

Largely, yes. Defence spending is often insulated from economic slowdowns due to strategic priorities. Public-sector orders also provide long-term revenue visibility.

What drives valuations: orders or innovation?

Both. Large, long-term orders ensure cash flow, while innovation in areas like drones, missiles, and surveillance equipment can unlock premium valuations and export potential.