3 Radar and Defence Systems Maker, Redevelopment Project Manager and Circuit Boards Manufacturer Stocks With a Strong Future Roadmap: Bharat Electronics, NBCC (India) and Syrma SGS Technology
- November 2, 2026
- Posted by: Lakshit Sharma
- Category: Best Stocks
Bharat Electronics, NBCC (India) and Syrma SGS Technology: ROE of 11.1% to 25.3% and FY22 to FY26 revenue CAGR of 13.7% to 39.4%. Prices as of 30 Oct 2026.
Quick Answer
The three defence radar, project manager and EMS stocks to watch are Bharat Electronics, NBCC (India) and Syrma SGS Technology. Their return on equity ranges from 11.1% to 25.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 13.7% to 39.4%. Bharat Electronics has the highest return on equity at 25.3%, while Syrma SGS Technology has the fastest revenue growth at 39.4% a year. Prices are based on the 30 October 2026 close, and this article is educational, not investment advice.
Defence radar, project manager and EMS stocks give investors a way to track businesses that sit close to everyday demand in India. Bharat Electronics, NBCC (India) and Syrma SGS Technology cover a defence electronics Navratna, a public sector project manager and an electronics manufacturing services company.
This list covers three defence radar, project manager and EMS stocks with complete current figures: Bharat Electronics, NBCC (India) and Syrma SGS Technology. Every figure comes from the latest reported financials and the 30 October 2026 market close. Companies without complete current figures were left out.
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What Are Defence Radar, Project Manager and EMS Stocks?
Defence radar, project manager and EMS stocks are listed companies that make radars and communication systems for the armed forces, manage redevelopment and infrastructure projects, and build printed circuit boards and electronic products for global brands. Their earnings depend on defence orders, project awards and client programmes.
Defence Radar, Project Manager and EMS Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Bharat Electronics | 369.9 | 275,177 | 44.8 | 48.1 | 25.3 | 0.00 |
| NBCC (India) | 69.66 | 19,926 | 26.1 | 36.2 | 23.9 | 0.00 |
| Syrma SGS Technology | 1,625.3 | 29,841 | 74.3 | 73.6 | 11.1 | 0.14 |
On valuation, Bharat Electronics and NBCC (India) trade at a P/E below the industry P/E, while Syrma SGS Technology trades above it, which reflects the growth the market already expects. Readers comparing defence radar, project manager and EMS 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 radar, project manager and EMS stocks can use the coming numbers to test whether growth is holding.
Why Do Defence Radar, Project Manager and EMS Stocks Have a Strong Roadmap in India?
Defence radar, project manager and EMS stocks have a strong roadmap in India because rising defence spending, large redevelopment plans and growing local electronics production keep widening the market for these state linked and manufacturing companies.
- Defence orders. Domestic production gets steady support.
- Redevelopment. Large projects add to order books.
- Electronics output. Global brands add Indian assembly.
Why Bharat Electronics Features Among These Defence Radar, Project Manager and EMS Stocks
Among the defence radar, project manager and EMS stocks on this list, Bharat Electronics is a Navratna public sector company that designs and makes radars, communication systems, electronic warfare suites, naval systems, electro-optics and avionics for the Indian armed forces, with a growing civil and export business.
The company has a return on equity of 25.3%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 275,177 crore. The stock trades at a P/E of 44.8, below the industry P/E of 48.1.
Revenue rose from Rs 15,600 crore in FY22 to Rs 28,176 crore in FY26, a compound annual growth rate of 15.9%. Net profit grew from Rs 2,354 crore in FY22 to Rs 6,023 crore in FY26, which works out to a compound annual growth rate of 26.5%. In the June 2026 quarter, revenue grew 24.2% year on year to Rs 5,717 crore, while net profit rose 8.7% to Rs 1,044 crore.
Roadmap: The company works with a large order book from the defence ministry and continues to win new programmes in air defence, naval combat systems and communication. Indigenisation policies favour domestic suppliers, and the company is also widening into homeland security, railways and electronic manufacturing services.
What to watch: Watch the size of the order book, the pace of order execution and the order inflow reported with each quarterly result.
Why NBCC (India) Features Among These Defence Radar, Project Manager and EMS Stocks
Among the armed forces supplier shares on this list, NBCC (India) is a public sector project management and construction company that handles redevelopment, real estate and infrastructure projects for government bodies and public agencies.
Revenue rose from Rs 7,885 crore in FY22 to Rs 13,196 crore in FY26, a compound annual growth rate of 13.7%. Net profit grew from Rs 238 crore in FY22 to Rs 742 crore in FY26, which works out to a compound annual growth rate of 32.9%.
The company has a return on equity of 23.9%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 19,926 crore. The stock trades at a P/E of 26.1, below the industry P/E of 36.2.
Roadmap: The company holds a large order book built mainly on redevelopment projects in Delhi and other cities, and a project management model keeps capital needs low. It also has land assets that can be monetised, and the company carries no debt.
What to watch: Watch how fast the order book converts into revenue and the progress of redevelopment projects.
Why Syrma SGS Technology Features Among These Defence Radar, Project Manager and EMS Stocks
Among the three companies on this list, Syrma SGS Technology is an electronics manufacturing services company that makes printed circuit boards, box builds and electronic products for industrial, automotive, healthcare and consumer customers.
Revenue rose from Rs 1,284 crore in FY22 to Rs 4,857 crore in FY26, a compound annual growth rate of 39.4%. Net profit grew from Rs 76.4 crore in FY22 to Rs 346 crore in FY26, which works out to a compound annual growth rate of 45.8%.
The company has a return on equity of 11.1%, a debt to equity ratio of 0.14 and a market capitalisation of Rs 29,841 crore. The stock trades at a P/E of 74.3, above the industry P/E of 73.6.
Roadmap: The company benefits from the shift of electronics manufacturing to India, supported by government incentives. It is adding capacity and new capabilities in areas such as RFID, magnetics and printed circuit boards.
What to watch: Check order inflow from new customers and the ramp-up of new manufacturing lines.
Bharat Electronics vs NBCC (India) vs Syrma SGS Technology on Key Financials
The table below sets the three defence radar, project manager and EMS 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 |
|---|---|---|---|---|---|
| Bharat Electronics | 15,600 | 28,176 | 15.9% | 6,023 | 21.4% |
| NBCC (India) | 7,885 | 13,196 | 13.7% | 742 | 5.6% |
| Syrma SGS Technology | 1,284 | 4,857 | 39.4% | 346 | 7.1% |
Bharat Electronics posts the highest return on equity in this group at 25.3%. Bharat Electronics has the largest FY26 revenue at Rs 28,176 crore, and Syrma SGS Technology shows the fastest revenue growth with a 39.4% compound annual rate. A useful habit with defence radar, project manager and EMS stocks is to check each new quarterly result against the capacity plans the company described earlier.
Key Risks to Check Before Investing in Defence Radar, Project Manager and EMS Stocks
Every theme carries risks that deserve a check before any decision. For these defence radar, project manager and EMS stocks, the main points are: Long-term armed forces supplier shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Order timing. Defence and space orders can shift between periods.
- Government spending. Public project funding can shift between periods.
- 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 defence radar, project manager and EMS stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Defence Radar, Project Manager and EMS Stocks
Defence radar, project manager and EMS stocks work best when investors track growth, valuation and return on equity side by side. Bharat Electronics, NBCC (India) and Syrma SGS Technology each have a clear plan to grow. Based on the 30 October 2026 close, Bharat Electronics trades at Rs 369.9, NBCC (India) at Rs 69.66 and Syrma SGS Technology at Rs 1,625.3. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these defence radar, project manager and EMS 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 radar, project manager and EMS stocks?
Ans. Defence radar, project manager and EMS stocks are listed companies that make radars and communication systems for the armed forces, manage redevelopment and infrastructure projects, and build printed circuit boards and electronic products for global brands. Their earnings depend on defence orders, project awards and client programmes. This list looks at three of them, Bharat Electronics, NBCC (India) and Syrma SGS Technology, using reported FY22 to FY26 financials and the 30 October 2026 closing prices.
Which defence radar, project manager and EMS stocks are covered in this list?
Ans. This list covers Bharat Electronics, NBCC (India) and Syrma SGS Technology. Based on the 30 October 2026 close, Bharat Electronics traded at Rs 369.9, NBCC (India) at Rs 69.66 and Syrma SGS Technology at Rs 1,625.3. Their return on equity ranges from 11.1% to 25.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 13.7% to 39.4%.
Why do defence radar, project manager and EMS stocks have a strong future roadmap in India?
Ans. Defence radar, project manager and EMS stocks have a strong roadmap in India because rising defence spending, large redevelopment plans and growing local electronics production keep widening the market for these state linked and manufacturing companies. The main drivers are as follows. Defence orders. Domestic production gets steady support. Redevelopment. Large projects add to order books. Electronics output. Global brands add Indian assembly. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Bharat Electronics performed financially?
Ans. Revenue rose from Rs 15,600 crore in FY22 to Rs 28,176 crore in FY26, a compound annual growth rate of 15.9%. Net profit grew from Rs 2,354 crore in FY22 to Rs 6,023 crore in FY26, which works out to a compound annual growth rate of 26.5%. In the June 2026 quarter, revenue grew 24.2% year on year to Rs 5,717 crore, while net profit rose 8.7% to Rs 1,044 crore. The company has a return on equity of 25.3%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 275,177 crore. The stock trades at a P/E of 44.8, below the industry P/E of 48.1. Looking ahead, the company works with a large order book from the defence ministry and continues to win new programmes in air defence, naval combat systems and communication. Indigenisation policies favour domestic suppliers, and the company is also widening into homeland security, railways and electronic manufacturing services.
How has NBCC (India) performed financially?
Ans. Revenue rose from Rs 7,885 crore in FY22 to Rs 13,196 crore in FY26, a compound annual growth rate of 13.7%. Net profit grew from Rs 238 crore in FY22 to Rs 742 crore in FY26, which works out to a compound annual growth rate of 32.9%. The company has a return on equity of 23.9%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 19,926 crore. The stock trades at a P/E of 26.1, below the industry P/E of 36.2. Looking ahead, the company holds a large order book built mainly on redevelopment projects in Delhi and other cities, and a project management model keeps capital needs low. It also has land assets that can be monetised, and the company carries no debt.
How has Syrma SGS Technology performed financially?
Ans. Revenue rose from Rs 1,284 crore in FY22 to Rs 4,857 crore in FY26, a compound annual growth rate of 39.4%. Net profit grew from Rs 76.4 crore in FY22 to Rs 346 crore in FY26, which works out to a compound annual growth rate of 45.8%. The company has a return on equity of 11.1%, a debt to equity ratio of 0.14 and a market capitalisation of Rs 29,841 crore. The stock trades at a P/E of 74.3, above the industry P/E of 73.6. Looking ahead, the company benefits from the shift of electronics manufacturing to India, supported by government incentives. It is adding capacity and new capabilities in areas such as RFID, magnetics and printed circuit boards.
What risks should investors check before buying defence radar, project manager and EMS stocks?
Ans. Investors should check a few risks before buying defence radar, project manager and EMS stocks. Order timing. Defence and space orders can shift between periods. Government spending. Public project funding can shift between periods. 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 defence radar, project manager and EMS stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 30 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.