India’s defence sector is growing fast as it shifts from importing equipment to making more of it within the country. Backed by the government’s Make in India program, this change has led to record levels in both defence production and exports, marking a big step toward self-reliance.
These are the top 3 defence companies with no debt and an order book of upto Rs. 1.9 Lakh crores. They are financially strong, well-prepared for the current market, and expected to grow further with high demand in the future.
Hindustan Aeronautics Ltd:
Hindustan Aeronautics Ltd is a Maharatna company owned by the Government of India. The company is involved in manufacturing aircraft and helicopters, as well as repairing and maintaining them. Its business is divided into three main segments: manufacturing, services, and others. The shares of Hindustan Aeronautics Ltd closed at Rs. 4,866.25 per equity share, down 1 percent from its previous day’s close price of Rs. 4,915.55.
By the end of FY25, HAL has a strong order book of Rs. 1,89,300 crore, almost double from last year. It includes big orders for making fighter jet engines, helicopters, and aircraft. The company also has Rs. 19,271 crore worth of repair work and expects around Rs. 1lakh crore in new orders over the next 1-2 years. This shows that HAL has a bright and growing future.
Bharat Electronics Ltd:
Bharat Electronics Ltd (BEL), established in 1954, manufactures and supplies electronic equipment and systems mainly for the defence sector. The company also has a small presence in the civilian market. The shares of Bharat Electronics Ltd closed at Rs. 409.25 per equity share, down 1 percent from its previous day’s close price of Rs. 413.50.
The company currently has an order book of Rs.71,650 crore. BEL also has a strong pipeline of upcoming projects, including the QRSAM missile system, which may bring orders worth Rs.30,000 crore. It is involved in Project Kusha, where its share could reach up to Rs.40,000 crore.
In the Next Generation Corvettes project, BEL will supply key electronics worth Rs. 6,000-Rs.10,000 crore. Apart from these, several other large and emergency defence projects are expected soon, further boosting its growth.
Mazagon Dock Shipbuilders Ltd
Mazagon Dock Shipbuilders Ltd, established in 1774, is the only Indian shipyard to make both destroyers and submarines and has Navratna status. MDL works mainly in shipbuilding and submarine engineering and has delivered 805 vessels to the Navy, Coast Guard, and other clients in India and abroad. The shares of Mazagon Dock Shipbuilders Ltd closed at Rs. 3173 per equity share, down 2.73 percent from its previous day’s close price of Rs. 3,262.45
The company has a strong order book worth Rs. 32,260 crore, and it expects to increase the order book to more than Rs. 1.25 Lakh Crores and a potential order inflow of upto Rs. 2-2.5 Lakh Crores through the pipeline of orders via tenders and more.
Written by: Sudeep Kumbar
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