BSE India Defence stocks list
BSETheme33 companies
- P/EPrice to earnings of an index. The index's P/E as the exchange publishes it with the close: its members' market value divided by their profit over the last twelve months, each member counted as the index weighs it. Price to earnings of an index: how it is worked out
- 45.01
- P/BPrice to book of an index. The index's P/B as the exchange publishes it: its members' market value divided by their net worth, the assets they own less everything they owe.
- 11.51
- Dividend yieldDividend yield of an index. The index's dividend yield as the exchange publishes it: dividends its members paid over the last twelve months as a percentage of their market value.
- 0.63%
- 1MOne-month return of an index. The latest close against the close a month earlier, on the same date or the last trading day before it, as a percentage. One-month return of an index in the glossary
- −5.72%
- 3MThree-month return of an index. The latest close against the close three months earlier, on the same date or the last trading day before it, as a percentage. Three-month return of an index in the glossary
- −5.43%
- 1YOne-year return of an index. The latest close against the close a year earlier, on the same date or the last trading day before it, as a percentage. One-year return of an index in the glossary
- +5.72%
P/E against its own past
Where today's P/E sits among every trading day of each window: the dot is today, the tick the middle day.
At or below today's level on 19% of 247 trading days over the last 1 year.
P/E at each month's last trading day, and on 30 Oct 2026
What the BSE India Defence companies earned
Revenue against the same quarter a year earlier, over today's members that filed both; profit after tax added up over the members that filed the quarter. A quarter fewer than 60% of them filed is left out, and the newest is added once nearly as many have filed it as the one before.
- Revenue growthRevenue growth, against a year earlier. Revenue of the quarter to Jun 2026 against the same quarter a year earlier, added up over the 30 companies that filed both.
- +21.2%quarter to Jun 2026
- ProfitProfit after tax, added up. Profit after tax of the quarter to Jun 2026, added up over the 33 companies that filed it; a loss counts as negative.
- ₹14,978 Crquarter to Jun 2026
- Filed the quarterCompanies that filed the quarter. How many of the index's 33 listed companies have filed results for the quarter to Jun 2026; the revenue growth and the profit are theirs.
- 33of 33
- Median ROCEMedian return on capital employed. The middle figure of the 33 companies' ROCE for the year to Mar 2026, half above and half below. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them.
- 10.6%year to Mar 2026
Revenue against the same quarter a year earlier, per cent
Profit after tax, ₹ crore, added up over the companies that filed
The largest companies
The 12 largest companies in the BSE India Defence, each sized by its market cap.
Market cap, ₹ crore
- Larsen & Toubro₹5,32,705 Cr
- Mahindra & Mahindra₹3,53,199 Cr
- Adani Enterprises₹3,49,179 Cr
- Hindustan Aeronautics₹3,24,603 Cr
- Bharat Electronics₹2,70,389 Cr
- Solar Industries India₹1,70,121 Cr
- Ashok Leyland₹85,065 Cr
- Bharat Forge₹84,051 Cr
- Mazagon Dock Shipbuilders₹68,788 Cr
- PTC Industries₹37,946 Cr
- Bharat Dynamics₹35,703 Cr
- Cochin Shipyard₹29,312 Cr
Companies in the BSE India Defence
Largest first, by market cap.
Solar Industries IndiaSOLARINDS · Chemicals & Petrochemicals₹18,800.00−3.24%₹1,70,121 Cr85.4035.3%0.06%+35.2%
Ashok LeylandASHOKLEY · Agricultural, Commercial & Construction Vehicles₹144.82−0.12%₹85,065 Cr24.5011.9%2.42%+2.9%
Mazagon Dock ShipbuildersMAZDOCK · Industrial Manufacturing₹1,705.30−3.26%₹68,788 Cr–17.2%1.06%−37.8%
Garden Reach Shipbuilders & EngineersGRSE · Aerospace & Defense₹1,943.70+1.07%₹22,265 Cr27.8029.8%1.01%−23.9%
BEMLBEML · Agricultural, Commercial & Construction Vehicles₹1,988.60+0.64%₹16,563 Cr92.908.1%0.86%−10.3%
Astra Microwave ProductsASTRAMICRO · Aerospace & Defense₹1,514.70−4.05%₹14,381 Cr76.1017.4%0.16%+43.4%
Paras Defence and Space TechnologiesPARAS · Aerospace & Defense₹1,249.70−6.02%₹10,071 Cr96.7015.9%0.08%+76.5%
Unimech Aerospace and ManufacturingUNIMECH · Aerospace & Defense₹1,579.40−4.74%₹8,039 Cr91.209.8%None+53.0%
Dynamatic TechnologiesDYNAMATECH · Industrial Manufacturing₹11,600.00−4.79%₹7,878 Cr185.709.2%0.11%+51.1%
Funds that follow the BSE India Defence
1 index fund or ETF tracks the BSE India Defence; 1 other fund uses it as its benchmark.
Mirae Asset BSE India Defence ETFETF · Mirae Asset Mutual FundNAV₹72.90161Y–3Y–5Y–Size₹161 CrCost0.64%
About the BSE India Defence
BSE India Defence is an index of companies within the BSE 1000 that represent the defence theme. Its companies are weighted by float-adjusted market capitalization, with caps on their weights.
How companies are chosen
Companies in the BSE 1000 are considered, and each eligible company is placed in one of 2 categories.
Category I, Core Defence, takes every company in the Aerospace & Defense, Explosives and Ship Building & Allied Services basic industries directly.
Category II, Non Core Defence, takes a company outside those industries only if it is a member of the Society of Indian Defence Manufacturers and its product descriptions clearly indicate defence-specific areas.
A subsidiary that is not listed but is a member of that society is considered if its listed parent holds a majority and the parent's annual report or filings cite it with defence as its area of operation. The listed parent is then included under Category II if it passes the same product test.
How it is weighted
Float-adjusted market capitalization counts only a company's available float, set by an investable weight factor that is reviewed every quarter.
Core Defence companies are capped at 75% in aggregate and 15% each. Non-Core Defence companies are capped at 25% in aggregate and 5% each.
Capping is applied each quarter, from market open on the Monday following the third Friday of Mar, Jun, Sep and Dec.
When it is reviewed
The index rebalances semi-annually, effective from the Monday following the third Friday of Jun and Dec, using data as at the close of the last trading day of Apr and Oct.
Base date and value
The first value date is 19 Jun 2017.
- Published by
- BSE
- Kind
- Theme
- CompaniesCompanies in an index. How many companies the index holds on its current list, which the exchange revises from time to time. Companies in an index in the glossary
- 33
- List last changed
- 30 Sep 2026
- Above 200-day averageMembers above their 200-day average. The share of the index's members whose latest close is above their own average close of the last 200 trading days; members listed too recently to have one are left out. Members above their 200-day average in the glossary
- 18 of 33
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