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For any company, the defence industry is the backbone of national security. It is also the hub of advanced technological innovation. Key players in the defense sector develop, manufacture and supply critical systems and equipment to the armed forces. In this blog post, we will learn about the stocks of the top 10 defence companies in India that investors should keep an eye on in 2025.
If you are an investor planning to invest in defence stocks, then it is essential that you know the best defence stocks in India. So, here’s the list of the top 10 defence stocks in India:
Hindustan Aeronautics Limited is one of the leading defence stocks in India. HAL was established on 23 December 1940. In 2025, it is a major aerospace and defence company with its headquarters in Bangalore, India.
HAL is engaged in designing, developing, manufacturing, repairing, overhauling, upgrading and servicing various products crucial for the defence industry, such as aircrafts, aero engines, avionics, helicopters, accessories & aerospace structures. The founder of Hindustan Aeronautics was Walchand Hirachand, who established the company in association with Krishna Raja Wadiyar IV of Kingdom of Mysore. Mr. Hirachand was a farsighted visionary who became the chairman after HAL’s establishment.
The company initially established its office in a bungalow named "Eventide" located on Domlur Road. The setup of the factory in Bengaluru, including its organization and equipment, was overseen by William D. Pawley from the Intercontinental Aircraft Corporation based in New York. Pawley facilitated the procurement of a substantial quantity of machine tools and equipment from the United States.
As of 2025, HAL is one of the top 10 defence stocks in India for the long term. Its range of products includes several aircraft models such as the HAWK, Su-30 MKI, Light Combat Aircraft (LCA), Dornier, Intermediate Jet Trainer (IJT), and HTT-40. The company also manufactures a variety of helicopters, including the Dhruv, Chetak, Cheetah, Lancer, Light Combat Helicopter (LCH), and Light Utility Helicopter (LUH). In addition, HAL produces advanced avionics and systems such as inertial navigation units, auto-stabilizers, laser ranging devices, flight data recorders, radio navigation systems, communication gear, and airborne secondary radars.
Founded in 1954, Bharat Electronics Limited (BEL) is a Navratna Public Sector Undertaking (PSU) operating under the Ministry of Defence, Government of India. The company specializes in the production of advanced electronic systems and equipment for the Indian Army, Navy, and Air Force. Over the years, BEL has diversified into several sectors including homeland security, smart city solutions, e-governance, space electronics (including satellite integration), energy storage systems such as electric vehicle charging stations, solar energy, network and cyber security, railway and metro infrastructure, airport technologies, Electronic Voting Machines, telecom equipment, passive night vision devices, medical electronics, composite materials, and software development.
BEL is a key player in India's defence sector and is actively expanding its footprint in both global defence and civil markets. Headquartered in Bengaluru, the company operates through 9 manufacturing facilities, 2 research centres, and 29 strategic business units (SBUs). As of 31 December 2024, the Government of India remains the principal stakeholder, holding a 51.14% share in the company.
The company’s operations are broadly divided into defence and non-defence segments. Its defence offerings include products like navigation and communication systems, ground-based radars, naval systems, electronic warfare equipment, avionics, electro-optical devices, weapon systems, shelters and masts, arms and ammunition, seekers, and missiles. In the non-defence domain, BEL provides solutions related to cyber security, electric mobility, railways, metro and airport infrastructure, e-governance, solar energy systems, homeland security, and civilian radar technologies.
Bharat Dynamics Limited (BDL) is one of the top 10 defence stocks in India. It is engaged in manufacturing ammunition and missile systems, making it a key player in the defence industry. It was established in Hyderabad in 1970. Bharat Dynamics Limited (BDL) has been collaborating with the Defence Research and Development Organisation (DRDO) and international Original Equipment Manufacturers (OEMs) to manufacture and supply a range of missiles and related equipment to the Indian Armed Forces. The company began its journey with the production of the first-generation French anti-tank guided missile, the SS11B1. While continuing its core mission as a weapons system manufacturer, BDL has also developed in-house research and development capabilities, with a primary focus on design and engineering.
Currently, BDL operates three manufacturing facilities located in Kanchanbagh (Hyderabad), Bhanur (Medak district), and Visakhapatnam (Andhra Pradesh). Additionally, two new manufacturing units are in the pipeline i.e., one at Ibrahimpatnam in Telangana’s Ranga Reddy district and another in Amravati, Maharashtra.
Another defence stock in our list is Mazagon Dock Shipbuilders.
Mazagon Dock Shipbuilders Limited (MDL) specializes in construction and repair of warships and submarines for the Ministry of Defence as well as commercial vessels. It also manufactures tankers, passenger ships, cargo bulk carriers and ferries.
MDL is a public sector undertaking. The government of India holds an 80.82% stake, and the Ministry of Defence manages MDL. The shipment segment of the company indigenously built destroyers, stealth frigates, missile boats, patrol boats, trailing suction hopper dredgers, platform supply vessels, voith tugs and BOP vessels, cargo ships, landing platform docks, corvettes, etc. The company’s submarine segment constructed submarines and stealth submarines. Both MDL’s segments have conducted repairing and refitting activities.
The shipyards of Mazagon were established in the 18th century, and the company’s ownership passed through entities like Peninsular and Oriental Steam Navigation Company and the British India Steam Navigation Company. In 1934, Mazagon Dock Limited was registered and in 1960, the shipyard was nationalized and now, it is a PSU of the Indian Govt. In 2024, MDL became the 18th PSU in the country to get the Navratna status from GOI.
Cochin Shipyard is one of the top defence stocks 2025. It stands as India’s largest facility for shipbuilding and maintenance. Located in the port city of Kochi, Kerala, the shipyard is part of a broader maritime infrastructure network. It specializes in constructing platform supply vessels and double-hulled oil tankers. With the capability to build vessels up to 1,20,000 deadweight tonnage (DWT), it is the most capacious shipyard in the country.
The company also holds the prestigious Miniratna status. Established in 1972 as a Government of India enterprise, Cochin Shipyard became operational in 1982 with the completion of its first development phase. In August 2012, the Indian government proposed a divestment plan aimed at raising Rs. 1,500 crore for expansion, intending to achieve this through an initial public offering (IPO) by the fiscal year’s end. The final decision to proceed with the stake sale was made on 18 November 2015, involving the sale of 3.39 crore shares, including 1,13,000 government-held shares and the rest as fresh equity. However, the IPO was not executed until August 2017, when the company successfully listed its shares on the BSE and NSE.
Paras Defence & Space Technologies provides a comprehensive range of products and solutions tailored for defence and space applications. The company operates primarily within the Defence and Space sectors, with two key business verticals: Optics & Optronic Systems, and Defence Engineering, which includes Defence Electronics, Electromagnetic Pulse (EMP) Protection Solutions and Heavy Engineering.
With over four decades of sustained growth in Defence and Space Engineering, the company is engaged in a wide array of advanced technologies spanning Rockets and Missiles, Space and Space Research, Naval Systems, Land and Armoured Vehicles, Electronic Warfare and Surveillance, and Electromagnetic Shielding. Through its subsidiaries, it also ventures into emerging areas such as drones, RF and microwave systems, Anti-Drone technologies, EO/IR systems for avionic platforms, and quantum communication.
Paras Defence & Space Technologies boasts a modern manufacturing infrastructure and a skilled workforce of over 600 professionals, offering end-to-end solutions from design to commissioning for systems of various scales. Its strong emphasis on technology development and research and development (R&D) positions it as a leading Indigenous Design, Development and Manufacturing (IDDM) entity in India’s defence sector. The company is driven by a dynamic team dedicated to developing next-generation technologies and delivering innovative solutions to its clients.
Data Pattern is a defence company established in 1985. Since its inception, it has grown beyond being a simple boutique operator to a premium design, manufacturing and development house that offers safety and mission critical high reliability electronics in aerospace, meteorological and defense areas. Data Patterns can accelerate design and supply timeframes for high-quality advanced solutions thanks to its extensive and substantial storehouse of reusable technology, which includes anything from sophisticated Line Replaceable Units to well-engineered systems to building blocks like COTS boards and FPGAs.
In its class, Data Patterns has the most organically designed electronics portfolio and, dare we say it, the fastest-growing number of intellectual property concepts worldwide. It is a player that can swiftly adjust to demands because of its proficiency across a wide range of platforms, design standards, and surroundings. Radar, electronic warfare, fire control systems, launch vehicle check outs, data buoys, satellite and launch vehicle subsystems, and Automatic Test Equipment are just a few of the areas in which Data Patterns specializes. In addition to board support packages and drivers, an internal team develops middleware, functional interfaces, and supporting software for both human and machine readable use.
As is common in the high reliability electronics sector, Data Patterns' manufacturing and testing facilities are designed to handle high complexity low to medium number production runs. Consistent and continuous product performance in the field is ensured by good procedures, meticulous attention to detail, and a culture of building things "first time right."
Incorporated in 2016, Unimech Aerospace and Manufacturing Ltd is an engineering solutions company in the defense industry. The company has specialization in manufacturing and supply of critical parts. Aero tooling, ground support equipment and precision engineered components are some of the products of Unimech.
Unimech caters to aerospace, defence, energy and semiconductor industries. The company has build-to-print capabilities, meaning it can manufacture products based on designs their customers provide. In the aerospace and tooling sector, Unimech has a strong market presence. It has experienced consistent profitability as well as growth. One of the main reasons for this is their strong relationship with their customers.
The business possesses sophisticated manufacturing units to provide engineering solutions with high precision. The capabilities of Unimech enable the business to create complex components requiring a high level of accuracy.
NIBE Limited was established in 2005 and is currently headquartered in Pune, Maharashtra. Its mission is to empower the defence capabilities of our country, and stands as a cornerstone in the country’s journey towards innovation as well as self reliance. The company’s vision aligns with the Atmanirbhar Bharat initiative of the country and aims to provide advanced defence solutions to boost India’s position on the global level. NIBE limited is a publicly listed company on Bombay Stock Exchange and National Stock Exchange.
NIBE is known for being a trusted leader in the sector. It pioneers modern defence structures, smart electronics and weapon mechanisms. It has a dedicated team of innovators, scientists and engineers. It continues to push technological limits and makes sure the armed forces of our country get the most advanced tools to protect the country.
The business has state-of-art facilities that can handle defence projects at a large scale. The expertise of NIBE lies in manufacturing artillery ammunition and missile systems to small arms and modern electronics.
SIKA Interplant System Limited is an engineering driven business. It was established in 1969 and is currently headquartered in Bangalore, Karnataka. It focuses on aerospace, defence and space, and automotive sectors in the country.
This company is listed on the Bombay Stock Exchange, and is one of the top 10 defence companies in India. The main lines of SIKA Interplant System Ltd business comprise the following: repair and overhaul (MRO), value-added distribution, maintenance, engineered projects and systems, interconnect solutions and electrical module integration.
It is a company with AS 9100D certification. It has a proven track record of approx. 25 years in execution of engineering plans in partnership with international technology partners for A&D customers in the country. Apart from this, SIKA is also a qualified Indian Offset Partner that possesses a license for defence production from GOI. It has had continuous design approval from the Centre for Military Airworthiness & Certification (CEMILAC) of the Ministry of Defence since 1999.
In this blog post, we provided you with the list of defence stocks in India. These stocks are Hindustan Aeronautics, Bharat Electronics, Bharat Dynamics, Mazagon Dock Shipbuilders, Cochin Shipyard, Sika Interplant Systems Limited, NIBE Limited, Unimech Aerospace and Manufacturing Limited, Data Patterns Limited and Paras Defence and Space Technologies. If you want to launch an IPO, connect with Registrationwala for IPO consulting services. We will guide on how your company can become publicly listed on NSE/BSE.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Registrationwala shall not be held responsible for any financial losses arising from investment decisions based on this content.
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