3 Defence Electronics and Battery Maker, Transmission Tower Maker and Power EPC and Data Centre Operator Stocks With a Strong Future Roadmap: HBL Engineering, Skipper and Techno Electric & Engineering Company
- October 26, 2026
- Posted by: Lakshit Sharma
- Category: Best Stocks
HBL Engineering, Skipper and Techno Electric & Engineering Company: ROE of 11.4% to 36.8% and FY22 to FY26 revenue CAGR of 28.0% to 34.3%. Prices as of 23 Oct 2026.
Quick Answer
The three defence electronics, tower and power EPC stocks to watch are HBL Engineering, Skipper and Techno Electric & Engineering Company. Their return on equity ranges from 11.4% to 36.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 28.0% to 34.3%. HBL Engineering has the highest return on equity at 36.8%, while Skipper has the fastest revenue growth at 34.3% a year. Prices are based on the 23 October 2026 close, and this article is educational, not investment advice.
Defence electronics, tower and power EPC stocks offer a focused view of a sector where demand keeps widening. HBL Engineering, Skipper and Techno Electric & Engineering Company cover a specialised batteries and defence electronics maker, a transmission towers and pipes maker and a power EPC and data centre operator.
This list covers three defence electronics, tower and power EPC stocks with complete current figures: HBL Engineering, Skipper and Techno Electric & Engineering Company. Every figure comes from the latest reported financials and the 23 October 2026 market close. Companies without complete current figures were left out.
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What Are Defence Electronics, Tower and Power EPC Stocks?
Defence electronics, tower and power EPC stocks are listed engineering companies that make batteries and defence electronics, build transmission towers and polymer pipes and run power projects and data centres. Their earnings depend on order books, execution and public spending.
Defence Electronics, Tower and Power EPC Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| HBL Engineering | 769.85 | 22,507 | 28.8 | 36.9 | 36.8 | 0.03 |
| Skipper | 473.9 | 5,800 | 25.8 | 44.4 | 14.3 | 0.64 |
| Techno Electric & Engineering Company | 824.6 | 10,943 | 25.4 | 22.7 | 11.4 | 0.02 |
On valuation, HBL Engineering and Skipper trade at a P/E below the industry P/E, while Techno Electric & Engineering Company trades above it, which reflects the growth the market already expects. Readers comparing defence electronics, tower and power EPC stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain. With the Q2 FY27 results season close, investors in defence electronics, tower and power EPC stocks can use the coming numbers to test whether growth is holding.
Why Do Defence Electronics, Tower and Power EPC Stocks Have a Strong Roadmap in India?
Defence electronics, tower and power EPC stocks have a strong roadmap in India because grid expansion, defence indigenisation and digital infrastructure spending keep filling order books for domestic builders.
- Grid expansion. Transmission lines need towers and EPC partners.
- Defence indigenisation. Domestic electronics makers win more orders.
- Digital infrastructure. Data centres add a new demand source.
Why HBL Engineering Features Among These Defence Electronics, Tower and Power EPC Stocks
Among the defence electronics, tower and power EPC stocks on this list, HBL Engineering, formerly HBL Power Systems, makes specialised batteries, defence electronics, railway safety systems, and electronics for aerospace and industrial use.
The company has a return on equity of 36.8%, a debt to equity ratio of 0.03 and a market capitalisation of Rs 22,507 crore. The stock trades at a P/E of 28.8, below the industry P/E of 36.9.
Revenue rose from Rs 1,251 crore in FY22 to Rs 3,362 crore in FY26, a compound annual growth rate of 28.0%. Net profit grew from Rs 93.7 crore in FY22 to Rs 814 crore in FY26, which works out to a compound annual growth rate of 71.7%. In the June 2026 quarter, revenue grew 6.0% year on year to Rs 659 crore.
Roadmap: The company has grown its defence electronics and railway safety businesses, including systems for collision avoidance, and is expanding its battery lines. Orders from railways and defence customers provide a long runway.
What to watch: Monitor large railway and defence orders and their execution schedules.
Why Skipper Features Among These Defence Electronics, Tower and Power EPC Stocks
Among the specialised battery company shares on this list, Skipper is a Kolkata-based maker of power transmission towers and poles and of polymer pipes and fittings, and it also takes on infrastructure projects in India and overseas.
Revenue rose from Rs 1,711 crore in FY22 to Rs 5,563 crore in FY26, a compound annual growth rate of 34.3%. Net profit grew from Rs 25.1 crore in FY22 to Rs 213 crore in FY26, which works out to a compound annual growth rate of 70.6%.
In the June 2026 quarter, revenue grew 4.5% year on year to Rs 1,314 crore, while net profit rose 25.5% to Rs 56.8 crore. The company has a return on equity of 14.3%, a debt to equity ratio of 0.64 and a market capitalisation of Rs 5,800 crore. The stock trades at a P/E of 25.8, below the industry P/E of 44.4.
Roadmap: The company is growing its transmission tower order book and adding polymer pipe capacity, which spreads its earnings across power and water related demand. Grid expansion and housing spending support both businesses.
What to watch: Track tower order inflows, pipe volumes and progress on new capacity.
Why Techno Electric & Engineering Company Features Among These Defence Electronics, Tower and Power EPC Stocks
Among the three companies on this list, Techno Electric & Engineering Company builds power transmission and distribution infrastructure and also owns and operates wind power assets and data centre capacity.
In the June 2026 quarter, revenue grew 14.8% year on year to Rs 659 crore. Revenue rose from Rs 1,154 crore in FY22 to Rs 3,401 crore in FY26, a compound annual growth rate of 31.0%.
Net profit grew from Rs 239 crore in FY22 to Rs 449 crore in FY26, which works out to a compound annual growth rate of 17.0%. The company has a return on equity of 11.4%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 10,943 crore. The stock trades at a P/E of 25.4, above the industry P/E of 22.7.
Roadmap: Strong demand for transmission networks and substations supports its engineering order book, while a new data centre platform opens a second growth path. Its operating wind assets add recurring cash flow.
What to watch: Watch the build-out of data centre capacity and the timing of large transmission orders.
HBL Engineering vs Skipper vs Techno Electric & Engineering Company on Key Financials
The table below sets the three defence electronics, tower and power EPC stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| HBL Engineering | 1,251 | 3,362 | 28.0% | 814 | 24.2% |
| Skipper | 1,711 | 5,563 | 34.3% | 213 | 3.8% |
| Techno Electric & Engineering Company | 1,154 | 3,401 | 31.0% | 449 | 13.2% |
HBL Engineering posts the highest return on equity in this group at 36.8%. Skipper combines the largest FY26 revenue at Rs 5,563 crore with the fastest revenue growth, a 34.3% compound annual rate. A useful habit with defence electronics, tower and power EPC stocks is to check each new quarterly result against the capacity plans the company described earlier.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| HBL Engineering | 621 | 659 | 6.0% |
| Skipper | 1,257 | 1,314 | 4.5% |
| Techno Electric & Engineering Company | 574 | 659 | 14.8% |
Key Risks to Check Before Investing in Defence Electronics, Tower and Power EPC Stocks
Every theme carries risks that deserve a check before any decision. For these defence electronics, tower and power EPC stocks, the main points are: Long-term specialised battery company shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Order timing. Government orders can shift between periods.
- Working capital. Project payments can take time.
- Input costs. Steel and metal prices affect margins.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter defence electronics, tower and power EPC stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Defence Electronics, Tower and Power EPC Stocks
Defence electronics, tower and power EPC stocks reward patient research into demand, execution and financial strength. HBL Engineering, Skipper and Techno Electric & Engineering Company each have a clear order pipeline. Based on the 23 October 2026 close, HBL Engineering trades at Rs 769.85, Skipper at Rs 473.9 and Techno Electric & Engineering Company at Rs 824.6. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these defence electronics, tower and power EPC stocks to a watchlist.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are defence electronics, tower and power EPC stocks?
Ans. Defence electronics, tower and power EPC stocks are listed engineering companies that make batteries and defence electronics, build transmission towers and polymer pipes and run power projects and data centres. Their earnings depend on order books, execution and public spending. This list looks at three of them, HBL Engineering, Skipper and Techno Electric & Engineering Company, using reported FY22 to FY26 financials and the 23 October 2026 closing prices.
Which defence electronics, tower and power EPC stocks are covered in this list?
Ans. This list covers HBL Engineering, Skipper and Techno Electric & Engineering Company. Based on the 23 October 2026 close, HBL Engineering traded at Rs 769.85, Skipper at Rs 473.9 and Techno Electric & Engineering Company at Rs 824.6. Their return on equity ranges from 11.4% to 36.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 28.0% to 34.3%.
Why do defence electronics, tower and power EPC stocks have a strong future roadmap in India?
Ans. Defence electronics, tower and power EPC stocks have a strong roadmap in India because grid expansion, defence indigenisation and digital infrastructure spending keep filling order books for domestic builders. The main drivers are as follows. Grid expansion. Transmission lines need towers and EPC partners. Defence indigenisation. Domestic electronics makers win more orders. Digital infrastructure. Data centres add a new demand source. Together these factors give the companies on this list a visible path for growth over the coming years.
How has HBL Engineering performed financially?
Ans. Revenue rose from Rs 1,251 crore in FY22 to Rs 3,362 crore in FY26, a compound annual growth rate of 28.0%. Net profit grew from Rs 93.7 crore in FY22 to Rs 814 crore in FY26, which works out to a compound annual growth rate of 71.7%. In the June 2026 quarter, revenue grew 6.0% year on year to Rs 659 crore. The company has a return on equity of 36.8%, a debt to equity ratio of 0.03 and a market capitalisation of Rs 22,507 crore. The stock trades at a P/E of 28.8, below the industry P/E of 36.9. Looking ahead, the company has grown its defence electronics and railway safety businesses, including systems for collision avoidance, and is expanding its battery lines. Orders from railways and defence customers provide a long runway.
How has Skipper performed financially?
Ans. Revenue rose from Rs 1,711 crore in FY22 to Rs 5,563 crore in FY26, a compound annual growth rate of 34.3%. Net profit grew from Rs 25.1 crore in FY22 to Rs 213 crore in FY26, which works out to a compound annual growth rate of 70.6%. In the June 2026 quarter, revenue grew 4.5% year on year to Rs 1,314 crore, while net profit rose 25.5% to Rs 56.8 crore. The company has a return on equity of 14.3%, a debt to equity ratio of 0.64 and a market capitalisation of Rs 5,800 crore. The stock trades at a P/E of 25.8, below the industry P/E of 44.4. Looking ahead, the company is growing its transmission tower order book and adding polymer pipe capacity, which spreads its earnings across power and water related demand. Grid expansion and housing spending support both businesses.
How has Techno Electric & Engineering Company performed financially?
Ans. Revenue rose from Rs 1,154 crore in FY22 to Rs 3,401 crore in FY26, a compound annual growth rate of 31.0%. Net profit grew from Rs 239 crore in FY22 to Rs 449 crore in FY26, which works out to a compound annual growth rate of 17.0%. In the June 2026 quarter, revenue grew 14.8% year on year to Rs 659 crore. The company has a return on equity of 11.4%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 10,943 crore. The stock trades at a P/E of 25.4, above the industry P/E of 22.7. Looking ahead, strong demand for transmission networks and substations supports its engineering order book, while a new data centre platform opens a second growth path. Its operating wind assets add recurring cash flow.
What risks should investors check before buying defence electronics, tower and power EPC stocks?
Ans. Investors should check a few risks before buying defence electronics, tower and power EPC stocks. Order timing. Government orders can shift between periods. Working capital. Project payments can take time. Input costs. Steel and metal prices affect margins. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of defence electronics, tower and power EPC stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 23 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.