3 Exhaust Systems Maker, Healthcare Technology Services Company and Telecom and Enterprise IT Provider Stocks With a Strong Future Roadmap: Sharda Motor Industries, Indegene and Tech Mahindra
- November 4, 2026
- Posted by: Kunal Singla
- Category: Best Stocks
Sharda Motor Industries, Indegene and Tech Mahindra: ROE of 12.8% to 26.3% and FY22 to FY26 revenue CAGR of 5.6% to 20.7%. Prices as of 3 Nov 2026.
Quick Answer
The three exhaust, health tech and IT services stocks to watch are Sharda Motor Industries, Indegene and Tech Mahindra. Their return on equity ranges from 12.8% to 26.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.6% to 20.7%. Sharda Motor Industries has the highest return on equity at 26.3%, while Indegene has the fastest revenue growth at 20.7% a year. Prices are based on the 3 November 2026 close, and this article is educational, not investment advice.
Exhaust, health tech and IT services stocks let investors follow companies that serve a growing part of the Indian economy. Sharda Motor Industries, Indegene and Tech Mahindra cover an exhaust systems maker, a healthcare technology services company and an IT services provider.
This list covers three exhaust, health tech and IT services stocks with complete current figures: Sharda Motor Industries, Indegene and Tech Mahindra. Every figure comes from the latest reported financials and the 3 November 2026 market close. Companies without complete current figures were left out.
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What Are Exhaust, Health Tech and IT Services Stocks?
Exhaust, health tech and IT services stocks are listed companies that make exhaust systems and catalytic converters for car makers, support biopharma firms with commercial and regulatory work, and offer digital, network and enterprise services to telecom and other clients. Their earnings depend on vehicle output, client spending and technology budgets.
Exhaust, Health Tech and IT Services Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Sharda Motor Industries | 856.4 | 4,995 | 15.0 | 36.9 | 26.3 | 0.04 |
| Indegene | 612.8 | 14,454 | 36.0 | 59.2 | 12.8 | 0.05 |
| Tech Mahindra | 1,789.1 | 175,398 | 31.5 | 17.6 | 18.6 | 0.07 |
On valuation, Sharda Motor Industries and Indegene trade at a P/E below the industry P/E, while Tech Mahindra trades above it, which reflects the growth the market already expects. Readers comparing exhaust, health tech and IT services stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Exhaust, Health Tech and IT Services Stocks Have a Strong Roadmap in India?
Exhaust, health tech and IT services stocks have a strong roadmap in India because steady passenger vehicle output, growing life science outsourcing and rising enterprise technology spending keep widening the market for these companies.
- Exhaust systems. Cleaner emission rules need advanced parts.
- Health technology. Life science firms outsource data and compliance work.
- Enterprise IT. Telecom and banking clients upgrade networks.
Why Sharda Motor Industries Features Among These Exhaust, Health Tech and IT Services Stocks
Among the exhaust, health tech and IT services stocks on this list, Sharda Motor Industries makes exhaust systems and catalytic converters, with large passenger vehicle makers among its main customers.
In the June 2026 quarter, revenue grew 33.2% year on year to Rs 1,038 crore. Revenue rose from Rs 2,285 crore in FY22 to Rs 3,483 crore in FY26, a compound annual growth rate of 11.1%.
Net profit grew from Rs 149 crore in FY22 to Rs 345 crore in FY26, which works out to a compound annual growth rate of 23.3%. The company has a return on equity of 26.3%, a debt to equity ratio of 0.04 and a market capitalisation of Rs 4,995 crore. The stock trades at a P/E of 15.0, below the industry P/E of 36.9.
Roadmap: Tighter emission norms increase the content per vehicle for exhaust systems and catalysts. The company is adding capacity in line with its customers’ production plans and expanding into new product lines, which broadens its revenue base.
What to watch: Follow volume trends at its key customers and precious metal price movements.
Why Indegene Features Among These Exhaust, Health Tech and IT Services Stocks
Among the exhaust parts and tech services shares on this list, Indegene is a Bengaluru-based healthcare technology and services company that helps biopharma and medical technology firms with commercial, medical and regulatory work using data and technology.
The company has a return on equity of 12.8%, a debt to equity ratio of 0.05 and a market capitalisation of Rs 14,454 crore. The stock trades at a P/E of 36.0, below the industry P/E of 59.2.
Revenue rose from Rs 1,690 crore in FY22 to Rs 3,582 crore in FY26, a compound annual growth rate of 20.7%. Net profit grew from Rs 163 crore in FY22 to Rs 401 crore in FY26, which works out to a compound annual growth rate of 25.3%. In the June 2026 quarter, revenue grew 39.5% year on year to Rs 1,092 crore.
Roadmap: The company is widening its digital and artificial intelligence services for life sciences clients and adding new customers across drug and device makers. Multi-year contracts with global clients support recurring revenue.
What to watch: Monitor client additions, platform adoption and growth in artificial intelligence services.
Why Tech Mahindra Features Among These Exhaust, Health Tech and IT Services Stocks
Among the three companies on this list, Tech Mahindra is a Mahindra Group technology services company that provides digital, network and enterprise services to clients in telecom, manufacturing, banking and other industries worldwide.
Revenue rose from Rs 45,758 crore in FY22 to Rs 56,847 crore in FY26, a compound annual growth rate of 5.6%. Net profit grew from Rs 2,397 crore in FY24 to Rs 4,806 crore in FY26, which works out to a compound annual growth rate of 41.6%.
The company has a return on equity of 18.6%, a debt to equity ratio of 0.07 and a market capitalisation of Rs 175,398 crore. The stock trades at a P/E of 31.5, above the industry P/E of 17.6.
Roadmap: The company is investing in artificial intelligence, cloud and 5G related services and deepening ties with large clients. Large deal wins in telecom and enterprise work support its pipeline.
What to watch: Track large deal wins, margin improvement and demand from telecom and enterprise clients.
Sharda Motor Industries vs Indegene vs Tech Mahindra on Key Financials
The table below sets the three exhaust, health tech and IT services 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 |
|---|---|---|---|---|---|
| Sharda Motor Industries | 2,285 | 3,483 | 11.1% | 345 | 9.9% |
| Indegene | 1,690 | 3,582 | 20.7% | 401 | 11.2% |
| Tech Mahindra | 45,758 | 56,847 | 5.6% | 4,806 | 8.5% |
Sharda Motor Industries posts the highest return on equity in this group at 26.3%. Tech Mahindra has the largest FY26 revenue at Rs 56,847 crore, and Indegene shows the fastest revenue growth with a 20.7% compound annual rate. A useful habit with exhaust, health tech and IT services stocks is to check each new quarterly result against the capacity plans the company described earlier.
Key Risks to Check Before Investing in Exhaust, Health Tech and IT Services Stocks
Every theme carries risks that deserve a check before any decision. For these exhaust, health tech and IT services stocks, the main points are: Long-term exhaust parts and tech services shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Production cycles. Vehicle output can vary with demand.
- Client spending. Technology budgets can vary with global conditions.
- Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.
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 exhaust, health tech and IT services stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Exhaust, Health Tech and IT Services Stocks
Exhaust, health tech and IT services stocks reward investors who follow demand trends, order books and margins together. Sharda Motor Industries, Indegene and Tech Mahindra each have a clear plan to grow. Based on the 3 November 2026 close, Sharda Motor Industries trades at Rs 856.4, Indegene at Rs 612.8 and Tech Mahindra at Rs 1,789.1.
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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 exhaust, health tech and IT services stocks?
Ans. Exhaust, health tech and IT services stocks are listed companies that make exhaust systems and catalytic converters for car makers, support biopharma firms with commercial and regulatory work, and offer digital, network and enterprise services to telecom and other clients. Their earnings depend on vehicle output, client spending and technology budgets. This list looks at three of them, Sharda Motor Industries, Indegene and Tech Mahindra, using reported FY22 to FY26 financials and the 3 November 2026 closing prices.
Which exhaust, health tech and IT services stocks are covered in this list?
Ans. This list covers Sharda Motor Industries, Indegene and Tech Mahindra. Based on the 3 November 2026 close, Sharda Motor Industries traded at Rs 856.4, Indegene at Rs 612.8 and Tech Mahindra at Rs 1,789.1. Their return on equity ranges from 12.8% to 26.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.6% to 20.7%.
Why do exhaust, health tech and IT services stocks have a strong future roadmap in India?
Ans. Exhaust, health tech and IT services stocks have a strong roadmap in India because steady passenger vehicle output, growing life science outsourcing and rising enterprise technology spending keep widening the market for these companies. The main drivers are as follows. Exhaust systems. Cleaner emission rules need advanced parts. Health technology. Life science firms outsource data and compliance work. Enterprise IT. Telecom and banking clients upgrade networks. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Sharda Motor Industries performed financially?
Ans. Revenue rose from Rs 2,285 crore in FY22 to Rs 3,483 crore in FY26, a compound annual growth rate of 11.1%. Net profit grew from Rs 149 crore in FY22 to Rs 345 crore in FY26, which works out to a compound annual growth rate of 23.3%. In the June 2026 quarter, revenue grew 33.2% year on year to Rs 1,038 crore. The company has a return on equity of 26.3%, a debt to equity ratio of 0.04 and a market capitalisation of Rs 4,995 crore. The stock trades at a P/E of 15.0, below the industry P/E of 36.9. Looking ahead, tighter emission norms increase the content per vehicle for exhaust systems and catalysts. The company is adding capacity in line with its customers’ production plans and expanding into new product lines, which broadens its revenue base.
How has Indegene performed financially?
Ans. Revenue rose from Rs 1,690 crore in FY22 to Rs 3,582 crore in FY26, a compound annual growth rate of 20.7%. Net profit grew from Rs 163 crore in FY22 to Rs 401 crore in FY26, which works out to a compound annual growth rate of 25.3%. In the June 2026 quarter, revenue grew 39.5% year on year to Rs 1,092 crore. The company has a return on equity of 12.8%, a debt to equity ratio of 0.05 and a market capitalisation of Rs 14,454 crore. The stock trades at a P/E of 36.0, below the industry P/E of 59.2. Looking ahead, the company is widening its digital and artificial intelligence services for life sciences clients and adding new customers across drug and device makers. Multi-year contracts with global clients support recurring revenue.
How has Tech Mahindra performed financially?
Ans. Revenue rose from Rs 45,758 crore in FY22 to Rs 56,847 crore in FY26, a compound annual growth rate of 5.6%. Net profit grew from Rs 2,397 crore in FY24 to Rs 4,806 crore in FY26, which works out to a compound annual growth rate of 41.6%. The company has a return on equity of 18.6%, a debt to equity ratio of 0.07 and a market capitalisation of Rs 175,398 crore. The stock trades at a P/E of 31.5, above the industry P/E of 17.6. Looking ahead, the company is investing in artificial intelligence, cloud and 5G related services and deepening ties with large clients. Large deal wins in telecom and enterprise work support its pipeline.
What risks should investors check before buying exhaust, health tech and IT services stocks?
Ans. Investors should check a few risks before buying exhaust, health tech and IT services stocks. Production cycles. Vehicle output can vary with demand. Client spending. Technology budgets can vary with global conditions. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. 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 exhaust, health tech and IT services stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 3 November 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.
