# Engineering - Heavy - Glass - lined Equipment — company-by-company sector analysis > Engineering - Heavy - Glass - lined Equipment: Standard Engineering Technology Ltd owns the largest revenue base AND the fastest current growth. Sector Alpha — machine-written from the numbers. Data as of 2026-08-20. Not investment advice. ## Bottom line Engineering - Heavy - Glass - lined Equipment has outperformed NIFTY 500 by 49.5% over 52 weeks and 110.1% over 13 weeks. 1 of 1 covered companies beat NIFTY on Mansfield relative strength, while 0 of 1 beat the sector itself. Standard Engineering Technology Ltd has the fastest current revenue growth at 32%, across 1 of 1 comparable companies. ## Sector relative strength Engineering - Heavy - Glass - lined Equipment has outperformed NIFTY 500 by 49.5% over the last 52 weeks. Over 13 weeks the gap is a lead of 110.1%. 1 of 1 covered company currently beats NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Readings are as of 2026-08-09. 13-week sector return versus NIFTY 500: 110% 52-week sector return versus NIFTY 500: 50% Stocks leading NIFTY: 1/1 Stocks leading sector: 0/1 Central tension: The central tension: current leadership is concentrated, so durability matters more than rank. Companies: 1 Combined market value: ₹6.0K Cr ## 4-Factor Sector Score An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment. 1. Standard Engineering Technology Ltd (SETL): 57/100 — Mixed-positive evidence; evidence 66% - Growth & earnings 19.5/35 | Capital efficiency 15.1/25 | Valuation 10.0/20 | Relative strength 12.5/20 - Price stage: BREAKING OUT — Ahead of the benchmark five weeks or more running, with its lead holding or widening. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 11 of 11 weeks with a reading, within the last 12 - Exact sum: 19.5 + 15.1 + 10 + 12.5 = 57.1 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. ## Market action Standard Engineering Technology Ltd has the strongest one-year price move in Engineering - Heavy - Glass - lined Equipment at +81.9%. It also leads on Mansfield relative strength against NIFTY at +73%. 1 of 1 covered company is above zero on that measure. Every line covers 313 weekly closes through 2026-08-14. ### Strongest one-year price performers 1. Standard Engineering Technology Ltd (SETL): 82% ### Strongest relative strength versus NIFTY 500 1. Standard Engineering Technology Ltd (SETL): 73% ## Revenue Scale & Growth Durability What the numbers say: Standard Engineering Technology Ltd is the scale leader at ₹850 crore, Standard Engineering Technology Ltd's growth is 32% from a ₹850 crore base, with 11 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale. Investor read: Standard Engineering Technology Ltd is the scale benchmark; Standard Engineering Technology Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns. This conclusion weakens if: Standard Engineering Technology Ltd's growth falls below Standard Engineering Technology Ltd's for two consecutive comparable reports while operating margin also compresses. Evidence: Standard Engineering Technology Ltd · ₹850 crore | Not enough peers | 6/7 recent comparable periods | 1/1 companies · 11 observations Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress. ### Revenue — largest 1. Standard Engineering Technology Ltd (SETL): ₹850 Cr ### Revenue growth — fastest growers 1. Standard Engineering Technology Ltd (SETL): 32% ### 13-quarter Revenue history - SETL: Mar 2022 — | Mar 2023 — | Dec 2023 ₹138 Cr | Mar 2024 ₹201 Cr | Jun 2024 ₹142 Cr | Sep 2024 ₹165 Cr | Dec 2024 ₹140 Cr | Mar 2025 ₹166 Cr | Jun 2025 ₹173 Cr | Sep 2025 ₹183 Cr | Dec 2025 ₹192 Cr | Mar 2026 ₹227 Cr | Jun 2026 ₹248 Cr ### 13-quarter Revenue growth history - SETL: Mar 2022 — | Mar 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 1.5% | Mar 2025 -17% | Jun 2025 22% | Sep 2025 11% | Dec 2025 37% | Mar 2026 37% | Jun 2026 43% ## Operating Economics & Margin Trend What the numbers say: Standard Engineering Technology Ltd leads both opm at 16% and margin change at -1 percentage points. Investor read: Standard Engineering Technology Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it. This conclusion weakens if: The next two comparable reports reverse the current margin change signal. Evidence: Standard Engineering Technology Ltd · 16% | Not enough peers | 1/7 recent comparable periods | 1/1 companies · 11 observations Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth. ### OPM — highest 1. Standard Engineering Technology Ltd (SETL): 16% ### Margin change — fastest expanders 1. Standard Engineering Technology Ltd (SETL): −1.0 pp ### 13-quarter OPM history - SETL: Mar 2022 — | Mar 2023 — | Dec 2023 17% | Mar 2024 16% | Jun 2024 17% | Sep 2024 20% | Dec 2024 19% | Mar 2025 14% | Jun 2025 17% | Sep 2025 16% | Dec 2025 15% | Mar 2026 14% | Jun 2026 16% ### 13-quarter Margin change history - SETL: Mar 2022 — | Mar 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 +2.0 pp | Mar 2025 −2.0 pp | Jun 2025 0.0 pp | Sep 2025 −4.0 pp | Dec 2025 −4.0 pp | Mar 2026 0.0 pp | Jun 2026 −1.0 pp ## Profit Scale & Acceleration What the numbers say: Standard Engineering Technology Ltd leads with ₹88 crore of TTM profit, Standard Engineering Technology Ltd shows 18.9% growth from a ₹88 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale. Investor read: Standard Engineering Technology Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it. This conclusion weakens if: The next two comparable reports reverse the current profit growth signal. Evidence: Standard Engineering Technology Ltd · ₹88 crore | Not enough peers | 5/7 recent comparable periods | 1/1 companies · 11 observations Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank. ### Net profit — largest 1. Standard Engineering Technology Ltd (SETL): ₹88 Cr ### Profit growth — fastest growers 1. Standard Engineering Technology Ltd (SETL): 19% ### 13-quarter Net profit history - SETL: Mar 2022 — | Mar 2023 — | Dec 2023 ₹12 Cr | Mar 2024 ₹24 Cr | Jun 2024 ₹15 Cr | Sep 2024 ₹21 Cr | Dec 2024 ₹16 Cr | Mar 2025 ₹16 Cr | Jun 2025 ₹21 Cr | Sep 2025 ₹20 Cr | Dec 2025 ₹20 Cr | Mar 2026 ₹21 Cr | Jun 2026 ₹27 Cr ### 13-quarter Profit growth history - SETL: Mar 2022 — | Mar 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 33% | Mar 2025 -33% | Jun 2025 40% | Sep 2025 -4.8% | Dec 2025 25% | Mar 2026 31% | Jun 2026 29% ## Return On Capital Employed What the numbers say: Standard Engineering Technology Ltd leads ROCE at 14.7%. Standard Engineering Technology Ltd has the strongest latest improvement at -1 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability. Investor read: Standard Engineering Technology Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it. This conclusion weakens if: The next two comparable reports reverse the current roce change signal. Evidence: Standard Engineering Technology Ltd · 14.7% | Not enough peers | Not enough history | 1/1 companies · 0 observations Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability. ### ROCE — highest 1. Standard Engineering Technology Ltd (SETL): 15% ### ROCE change — fastest improvers 1. Standard Engineering Technology Ltd (SETL): −1.0 pp ### 13-quarter ROCE history ### 13-quarter ROCE change history ## Valuation Against Growth & Quality What the numbers say: There is not enough comparable evidence to name a reliable peg leader. Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy. This conclusion weakens if: The next two comparable reports reverse the current p/e signal. Evidence: No comparable leader | Not enough peers | Not enough history | 0/1 companies · 0 observations Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing. ### PEG — lowest PEG ### P/E — lowest P/E 1. Standard Engineering Technology Ltd (SETL): 69.6 ### 13-quarter PEG history ### 13-quarter P/E history - SETL: Mar 2022 — | Mar 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 9.5 | Jun 2025 48.9 | Sep 2025 47.8 | Dec 2025 41.4 | Mar 2026 29.1 | Jun 2026 53.4 ## What can make this comparison misleading? - A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason. - A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment. - The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed. - An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion. - 1 company is missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business. - Thin comparisons: Valuation have fewer than three usable current readings. ## Every company - Standard Engineering Technology Ltd (SETL) — market value ₹6.0K Cr; latest fundamentals Jun 2026; second-feed figures WITHHELD ## Source standing of each company Cross-checked: 0. Unverified: 0. Withheld: 1. Graded companies: 1. 1 of 1 company has a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Standard Engineering Technology Ltd (SETL) — its two data sources disagree by up to 4.8% on reported income across 10 comparable periods, so its derived ratios are withheld. - WITHHELD | SETL | Standard Engineering Technology Ltd | diff_gt_2pct | disagreement up to 4.8% over 10 comparable periods ## Methodology and freshness Fundamentals through Jun 2026; prices through 2026-08-14. Up to 13 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable. ## Frequently asked questions ### Is the Engineering - Heavy - Glass - lined Equipment sector outperforming NIFTY 500? Engineering - Heavy - Glass - lined Equipment has outperformed NIFTY 500 by 49.5% over 52 weeks and 110.1% over 13 weeks. 1 of 1 covered companies beat NIFTY on Mansfield relative strength, while 0 of 1 beat the sector itself. ### Which Engineering - Heavy - Glass - lined Equipment company is largest by revenue? Standard Engineering Technology Ltd leads with revenue of ₹850 crore, based on 1 of 1 comparable companies through Jun 2026. ### Which Engineering - Heavy - Glass - lined Equipment company is growing fastest? Standard Engineering Technology Ltd has the fastest current revenue growth at 32%, across 1 of 1 comparable companies. ### Which Engineering - Heavy - Glass - lined Equipment company has the strongest 4-Factor Sector Score? Standard Engineering Technology Ltd ranks first at 57.1/100 with 66.3% evidence confidence. The score prioritizes research; it is not a buy recommendation. ### How much history does this Engineering - Heavy - Glass - lined Equipment comparison include? The page compares up to 13 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated. ### How is the 4-Factor Sector Score calculated? The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral. ### Is there a Nifty Engineering - Heavy - Glass - lined Equipment index? NSE India maintains Nifty indices for several broad sector categories — Nifty Bank, Nifty IT, Nifty Pharma and others — but not for every sub-sector grouping on this site. Whether or not an official Nifty index covers Engineering - Heavy - Glass - lined Equipment, this page builds its own equal-weight basket of 1 listed Engineering - Heavy - Glass - lined Equipment companies — one company, one vote, regardless of market value — so no single large company dominates the reading. Figures are as of Jun 2026. ### Which are the best Engineering - Heavy - Glass - lined Equipment stocks in India? Ranked by this page's four-factor score, Standard Engineering Technology Ltd places first among 1 listed Engineering - Heavy - Glass - lined Equipment companies. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser. ### How many Engineering - Heavy - Glass - lined Equipment stocks are listed in India? This comparison covers 1 listed Engineering - Heavy - Glass - lined Equipment companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026. ### Which Engineering - Heavy - Glass - lined Equipment company is the biggest? Standard Engineering Technology Ltd is the largest, with trailing-twelve-month revenue of ₹850 crore. That covers 1 of 1 companies with comparable reporting through Jun 2026. ### Which Engineering - Heavy - Glass - lined Equipment company has the best profit margins? Standard Engineering Technology Ltd has the highest operating margin at 16%, from 1 of 1 comparable companies. Standard Engineering Technology Ltd shows the biggest recent improvement, at -1 percentage points. A high margin matters most when it is holding or rising, not when it is peaking. ### Which Engineering - Heavy - Glass - lined Equipment company makes the most profit? Standard Engineering Technology Ltd earns the most, at ₹88 crore of trailing-twelve-month net profit, from 1 of 1 comparable companies. Standard Engineering Technology Ltd has the fastest profit growth at 18.9%, though growth off a small or recovering profit base overstates how much has actually changed. ### Which Engineering - Heavy - Glass - lined Equipment company earns the highest return on capital? Standard Engineering Technology Ltd leads on return on capital employed at 14.7%, across 1 of 1 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year. ### Is the Engineering - Heavy - Glass - lined Equipment sector beating the market? Engineering - Heavy - Glass - lined Equipment has outperformed NIFTY 500 by 49.5% over the last 52 weeks and 110.1% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 1 of 1 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it. ### Which Engineering - Heavy - Glass - lined Equipment stock has the strongest price momentum? Standard Engineering Technology Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all. ### Which Engineering - Heavy - Glass - lined Equipment company scores highest for research priority? Standard Engineering Technology Ltd scores 57.1 out of 100 with 66.3% evidence confidence, from 19.5 points on growth and earnings, 15.1 on capital efficiency, 10 on valuation and 12.5 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research. ### How many Engineering - Heavy - Glass - lined Equipment companies does this comparison cover, and over what period? It compares 1 listed companies over up to 13 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data. ### What is the total market cap of the Engineering - Heavy - Glass - lined Equipment sector? The 1 Engineering - Heavy - Glass - lined Equipment companies on this page carry ₹5,953 crore of combined market value. Standard Engineering Technology Ltd is the largest at ₹5,953 crore, about 100% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-20. ### How is the Engineering - Heavy - Glass - lined Equipment sector performing? 1 of the 1 covered Engineering - Heavy - Glass - lined Equipment companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 49.5% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-20. ### Why are some values on this page blank? A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad. ### Is this investment advice? No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.