Light Engineering Stocks and Companies in India

The largest Light Engineering stocks in India by market value are Indo-MIM (₹61,320 crore), Omnitech Engineering (₹8,278 crore) and Axis Solutions (₹2,474 crore), at prices of 4 Nov 2026.

• Indo-MIM: ₹1,240.10 | market value ₹61,320 crore | P/E 94.9
• Omnitech Engineering: ₹669.40 | market value ₹8,278 crore | P/E 79.6
• Axis Solutions: ₹523.40 | market value ₹2,474 crore | P/E 80.8
• Shree Refrigerations: ₹307.65 | market value ₹1,101 crore | P/E 41.0
• Tankup Engineers: ₹1,740 (price from the week of 23 Oct 2026) | market value ₹921 crore | P/E 193
• Sunita Tools: ₹1,079.45 | market value ₹667 crore | P/E 102
• Filtron Engineers: ₹71.04 | market value ₹451 crore | P/E 1555.7
• Cryogenic OGS: ₹339.70 | market value ₹485 crore | P/E 43.2
• C2C Advanced Systems: ₹261 (price from the week of 9 Aug 2026) | market value ₹443 crore | P/E 24.2

Share price | market value | P/E, biggest first. Prices, market values and ratios at the official close of 4 Nov 2026; the score list below uses the weekly figures.

Ranked by the 4-Factor Sector Score (growth & earnings 35, capital efficiency 25, valuation 20, relative strength 20). Prices as of 30 Oct 2026.

All 10 listed Indian Engineering - Light - General companies are named here, largest first. This is the set of companies people mean when they search for a Nifty Engineering - Light - General index; NSE publishes its own indices only for the largest sectors, so this equal-weighted set stands in for one. One large company cannot set the reading.

1. Indo-MIM Ltd₹57,900 cr
2. Omnitech Engineering Ltd₹8,260 cr
3. Axis Solutions Ltd₹2,560 cr
4. Shree Refrigerations Ltd₹1,100 cr
5. Tankup Engineers Ltd₹921 cr
6. Sunita Tools Ltd₹667 cr
7. Filtron Engineers Ltd₹526 cr
8. Cryogenic OGS Ltd₹507 cr
9. C2C Advanced Systems Ltd₹443 cr
10. Lloyds Engineering Works Ltd Partly Paidup—

9 Light Engineering companies in the Engineering - Light - General industry group have a page on Sector Alpha, by market value as of 30 October 2026, and all 9 are listed below, largest first. The largest is Indo-MIM (₹57,933 crore) and the smallest with a market value is C2C Advanced Systems.

Download all 9 Light Engineering companies (CSV)

The line below covers up to 3.8 years and opens on the 3Y view; the buttons cut it shorter. Over the last two years (104 weeks) this sector is 2065% ahead of NIFTY 500. Earnings across its companies fell 17% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 69 weeks running.

Price up, without the fundamentals confirming. 3 of the 7 companies with a long enough price record pass the momentum test (5+ points ahead of the Nifty 500 over 3 months, within 20% of the 52-week high).

Ahead of NIFTY 500 on the three-month view for 69 weeks running; 7 of the 7 companies in the industry index above their 200-day average (1 more than four weeks earlier); 3 of those 7 pass the momentum test (2 fewer than four weeks earlier); earnings rising at 5 of the 5 that report earnings.

Ahead of NIFTY 500 for 69 weeks running and +229.7% over a year, with 5 → 3 of 7 stocks participating. Earnings confirming, 5 of 5 members have higher trailing twelve-month earnings than a year ago.

Both lines start at 200 in the same week, so the gap between them tells the story: the sector line is an equal-weighted index of 7 of its 10 companies (the 3 with too short a price record are ranked in the scorecard but cannot sit in this line). The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member set to 100 at the start and the sector taking the middle value, so a price line pulling away from flat bars means the market is paying more for the same earnings. A bar turns grey when that figure is lower than the quarter before. The rules are fixed and the same everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover or tap any point to read both values and the gap.

Engineering - Light - General has done better than the NIFTY 500 by 188.8% over the last 52 weeks. Over 13 weeks the gap is a lead of 37.3%. Readings are as of 30 October 2026.

Relative-strength score for the industry: 31.6 as of 30 October 2026 (consolidation, falling).

Engineering - Light - General has done better than the NIFTY 500 by 188.8% over 52 weeks and by 37.3% over 13 weeks. 1 of 10 companies we track is beating the NIFTY on relative strength (how a share price has done against the index over recent months) (5 have no relative-strength reading yet).

A score that ranks each company against the others in its industry. The four parts shown always add up to the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or old evidence affects only its own part, never as a hidden adjustment.

Axis Solutions Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 60.8% evidence confidence.

Ranked last: too little evidence (8 companies)

Under 60% of the evidence behind these scores is available, so they rank after every company above, whatever the score.

Axis Solutions Ltd has the strongest one-year price move in Engineering - Light - General at +1024.2%. It also leads on relative strength against the NIFTY, at +93.7%. 5 of 10 companies we track are ahead of the index on that measure (5 have no relative-strength reading yet). Every line covers 313 weekly closes through 30 October 2026.

Price and relative strength

Price · same starting point: Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts: the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

RS vs NIFTY 500: How far ahead of or behind NIFTY 500 each company has been running, measured against its own recent average of that comparison, so the flat line at zero IS NIFTY 500: above it the company is beating the market, below it the market is beating the company. It opens on one year.

RS vs sector: The same measure taken against Engineering - Light - General itself instead of the whole market, so the flat line at zero is the sector: above it the company is beating its own peers, which is the sharper test of the two. It opens on one year.

Biggest one-year moves

Strongest against NIFTY 500

This is a real scale-up wrapped in a dangerous price, and the danger got worse this fortnight. The growth is genuine and it is the durable kind: sales rose 43.1% to ₹1,156 crore and profit 27.2% to ₹159 crore, and the decomposition puts 54 units of that profit move on sales against 20 units of drag from margin, a demand-led move, not a margin trick. In the week of 17 August 2026, 100% of 5 Engineering - Light - General companies were beating the Nifty 500, against 100% on 6 April 2026.

From our industry review of 22 August 2026. A newer review (10 October 2026) did not cover Engineering - Light - General, so this is the latest we have.

2 of 9 Engineering - Light - General companies held a results call for July to September 2026. Tempsens Instruments (India) guided: FY27 revenue growth in line with blended last-3-year growth with first half tracking ahead helped by consolidated entities.

From the results calls for July to September 2026.

Big funds, foreign and Indian, cut their stake by 1.9 points over the last two quarters. Founders and promoters kept theirs about the same.

• Spending on new plants and equipment was ₹455 crore in the last 12 months, 296% more than a year before.
• Projects still being built grew 142% in a year.

Big funds = foreign and Indian institutions, change in their share of ownership across 13 Engineering - Light - General companies, in percentage points.

Ownership and spending as of 10 October 2026.

This is the written read behind the Engineering - Light - General figures above: what is actually happening in the industry, in words, with the evidence each claim rests on. It is dated 22 Aug 2026. It also states what would change this read.

How old this read is: This read comes from our fortnightly sector read dated 22 Aug 2026, 75 days old. The numbers above it are newer than the words here.

What would change this read

The single disproving print is Omnitech's September operating margin line; the confirming-the-fear print is the same margin below 30% with the sector-wide construction-in-progress converting into competing capacity.

Sources: our fortnightly Engineering - Light - General read, 22 Aug 2026.

Omnitech Engineering Ltd has the highest Revenue among the 10 Engineering - Light - General companies compared here, at ₹575 crore. Axis Solutions Ltd is next at ₹262 crore. Axis Solutions Ltd has the highest Revenue growth at 27.3%, so level and change sit with different companies. 3 of 10 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Omnitech Engineering Ltd is the largest at ₹575 crore, 119.3% ahead of Axis Solutions Ltd. Axis Solutions Ltd's growth is 27.3% from a ₹262 crore base, with 15 reported quarters out of the last 20. Fast growth from a smaller base is not yet the same as proven size.

What this means: Omnitech Engineering Ltd is the size to compare against; Axis Solutions Ltd is the one growing fastest. The faster grower has to keep that growth and turn it into margin and returns before it counts as more than a fast start.

This conclusion weakens if: Omnitech Engineering Ltd's growth falls below Axis Solutions Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenue · company comparison

Revenue · largest

Revenue growth · fastest growers

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Revenue shows both size and speed. A large company can absorb shocks and pay for wide distribution; faster growth can mean market-share gains, new capacity or stronger demand. The best sign is usually growth that lasts without hurting margins and returns.

Indo-MIM Ltd has the highest OPM among the 10 Engineering - Light - General companies compared here, at 33%. Cryogenic OGS Ltd is next at 30%. Filtron Engineers Ltd has the highest Margin change at +243.4 percentage points, so level and change sit with different companies. 9 of 10 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Indo-MIM Ltd leads opm at 33%; Filtron Engineers Ltd leads margin change at +243.4 percentage points.

What this means: Indo-MIM Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

Operating margin · company comparison

OPM · highest

Margin change · fastest expanders

All-company data · latest reported quarter

Omnitech Engineering Ltd has the highest Net profit among the 10 Engineering - Light - General companies compared here, at ₹104 crore. Axis Solutions Ltd is next at ₹30 crore. Axis Solutions Ltd has the highest Profit growth at 16.7%, so level and change sit with different companies. Its Net profit series carries 7 reported observations across the 20-quarter window.

What the numbers say: Omnitech Engineering Ltd earns the most, ₹104 crore of profit over the last 12 months, 244.4% above Axis Solutions Ltd. A fast rate from a small base matters less than a large profit that keeps coming.

What this means: Omnitech Engineering Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

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 · company comparison

Net profit · largest

Profit growth · fastest growers

All-company data · latest reported quarter

Cryogenic OGS Ltd has the highest ROCE among the 10 Engineering - Light - General companies compared here, at 29.6%. Indo-MIM Ltd is next at 25%. Indo-MIM Ltd has the highest ROCE change at +3 percentage points, so level and change sit with different companies. 9 of 10 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: Cryogenic OGS Ltd leads ROCE at 29.6%, 4.6 percentage points above Indo-MIM Ltd. A high return reported once may be one good year; a high return reported year after year shows a lasting business.

What this means: Cryogenic OGS Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

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.

Return on capital · company comparison

ROCE · highest

ROCE change · fastest improvers

All-company data · latest reported quarter

No company in this Engineering - Light - General comparison reports a valuation figure this section can compare, so the PEG rank is empty. On P/E, C2C Advanced Systems Ltd is lowest at 24.2× at the latest share price, across 10 of 10 companies with a usable reading.

What the numbers say: There is not enough comparable evidence to name a reliable peg leader.

What this means: A low valuation is a reason to look closer at the business, not a conclusion on its own.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is worked out the same way every time, as the P/E on the last 12 months of reported earnings divided by that growth rate, never on expected earnings. 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.

Valuation · company comparison

PEG · lowest PEG

Not enough comparable data.

P/E · lowest P/E

All-company data · latest reported quarter

PEG is left out: no company here reports it on a comparable basis.

Engineering - Light - General companies show up on 2 of our India lists. The most are on the momentum stocks list (3 companies).

This Engineering - Light - General comparison names 7 specific ways its own evidence can mislead, all listed below. 3 of the 10 companies report on an older date than the sector's freshest reporters, so their ranks are marked stale. 1 uses at least one figure from a second source we could not check.

Keep these limits visible

• A high growth rate can come from a very small starting figure. The page keeps level and change separate for that reason.
• A high ROCE can be temporary, or look high because the capital base is small. It is best read beside margin, cash flow and how much is spent back on the business.
• The 4-Factor Sector Score ranks published data only. Management quality, upcoming events and risks are not part of it.
• An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
• 3 companies have older fundamental reporting dates than the sector’s freshest reporters; their ranks carry a stale marker.
• 1 company draws at least one figure from a second data source that does not cover enough of the same periods to check against the main one; it is marked unverified wherever that figure appears.
• Thin comparisons: Valuation have fewer than three usable current readings.

This comparison is built from the reported filings of 10 Engineering - Light - General companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Sep 2026 and market data through 30 October 2026.

1 of 10 companies draws at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear.

These 22 answers restate the Engineering - Light - General comparison above in question form. Every one is computed from the same 10 companies and the same reported filings as the rankings and charts, current through Sep 2026. Price and relative-strength answers run through 30 October 2026. Nothing here is estimated, and none of it is a recommendation.