3 Air Compressor Manufacturer, Pumps and Valves Maker and Specialised Batteries and Defence Electronics Firm Stocks With a Strong Future Roadmap: Elgi Equipments, Kirloskar Brothers and HBL Engineering

Elgi Equipments, Kirloskar Brothers and HBL Engineering: ROE of 15.2% to 36.8% and FY22 to FY26 revenue CAGR of 10.5% to 28.0%. Prices as of 27 Oct 2026.

Updated: 28 Oct 2026 • 12:39 pm

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3 Air Compressor Manufacturer, Pumps and Valves Maker and Specialised Batteries and Defence Electronics Firm Stocks With a Strong Future Roadmap: Elgi Equipments, Kirloskar Brothers and HBL Engineering

Quick Answer

The three compressor, pump and defence electronics stocks to watch are Elgi Equipments, Kirloskar Brothers and HBL Engineering. Their return on equity ranges from 15.2% to 36.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 10.5% to 28.0%. HBL Engineering leads on both return on equity at 36.8% and revenue growth at 28.0% a year. Prices are based on the 27 October 2026 close, and this article is educational, not investment advice.

Compressor, pump and defence electronics stocks bring together companies with a visible plan for the years ahead. Elgi Equipments, Kirloskar Brothers and HBL Engineering cover an air compressor manufacturer, a pumps and valves maker and a specialised batteries and defence electronics firm.

This list covers three compressor, pump and defence electronics stocks with complete current figures: Elgi Equipments, Kirloskar Brothers and HBL Engineering. Every figure comes from the latest reported financials and the 27 October 2026 market close. Companies without complete current figures were left out.

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Table of Contents

What Are Compressor, Pump and Defence Electronics Stocks?

Compressor, pump and defence electronics stocks are listed engineering companies that make air compressors, pumps, valves, batteries and defence and railway electronics. Their earnings depend on industrial capital spending, government projects, order books and commodity costs.

Compressor, Pump and Defence Electronics Stocks at a Glance

Company	CMP (Rs)	Market Cap (Rs Cr)	P/E	Industry P/E	ROE (%)	D/E
Elgi Equipments	521.85	17,259	38.5	44.4	19.3	0.24
Kirloskar Brothers	1,551.4	13,186	35.0	43.0	15.2	0.10
HBL Engineering	788	22,507	28.8	36.9	36.8	0.03

On valuation, all three trade at a P/E below their industry P/E, which means the market is pricing them at a lower multiple than their peer group. Readers comparing compressor, pump and defence electronics stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.

Why Do Compressor, Pump and Defence Electronics Stocks Have a Strong Roadmap in India?

Compressor, pump and defence electronics stocks have a strong roadmap in India because rising industrial investment, water and irrigation projects and defence and railway modernisation keep widening the market for Indian engineering firms.

Industrial spending. Factories add equipment and automation.
Water projects. Irrigation and supply schemes need pumps.
Defence and rail. Safety and electronics orders add visibility.

Why Elgi Equipments Features Among These Compressor, Pump and Defence Electronics Stocks

Among the compressor, pump and defence electronics stocks on this list, Elgi Equipments, based in Coimbatore, is a major manufacturer of air compressors for industrial customers, selling in India and in international markets through its own subsidiaries.

The company has a return on equity of 19.3%, a debt to equity ratio of 0.24 and a market capitalisation of Rs 17,259 crore. The stock trades at a P/E of 38.5, below the industry P/E of 44.4.

Revenue rose from Rs 2,580 crore in FY22 to Rs 4,068 crore in FY26, a compound annual growth rate of 12.1%. Net profit grew from Rs 178 crore in FY22 to Rs 430 crore in FY26, which works out to a compound annual growth rate of 24.6%. In the June 2026 quarter, revenue grew 22.1% year on year to Rs 1,083 crore, while net profit rose 20.7% to Rs 103 crore.

Roadmap: The company is growing its oil-free and energy-efficient compressor range and building a service-led annuity through spares and aftermarket support. International units add geographic spread, and automation in manufacturing improves efficiency.

What to watch: Follow industrial capital spending trends and the contribution of international subsidiaries.

Why Kirloskar Brothers Features Among These Compressor, Pump and Defence Electronics Stocks

Among the air compressor and pump maker shares on this list, Kirloskar Brothers is a Pune-based maker of pumps, valves and hydro systems used in irrigation, water supply, power plants, buildings and industry. It has served customers for over a century.

Revenue rose from Rs 3,090 crore in FY22 to Rs 4,615 crore in FY26, a compound annual growth rate of 10.5%. Net profit grew from Rs 81.5 crore in FY22 to Rs 361 crore in FY26, which works out to a compound annual growth rate of 45.1%.

In the June 2026 quarter, revenue grew 12.5% year on year to Rs 1,120 crore. The company has a return on equity of 15.2%, a debt to equity ratio of 0.10 and a market capitalisation of Rs 13,186 crore. The stock trades at a P/E of 35.0, below the industry P/E of 43.0.

Roadmap: The company benefits from public spending on water supply, irrigation and urban infrastructure, and it is growing its project and aftermarket business. A deep service network supports repeat orders.

What to watch: Follow order inflows from water and irrigation projects and the share of aftermarket sales.

Why HBL Engineering Features Among These Compressor, Pump and Defence Electronics Stocks

Among the three companies on this list, HBL Engineering, formerly HBL Power Systems, makes specialised batteries, defence electronics, railway safety systems, and electronics for aerospace and industrial use.

In the June 2026 quarter, revenue grew 6.0% year on year to Rs 659 crore. 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%. 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.

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.

Elgi Equipments vs Kirloskar Brothers vs HBL Engineering on Key Financials

The table below sets the three compressor, pump and defence electronics 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
Elgi Equipments	2,580	4,068	12.1%	430	10.6%
Kirloskar Brothers	3,090	4,615	10.5%	361	7.8%
HBL Engineering	1,251	3,362	28.0%	814	24.2%

HBL Engineering posts the highest return on equity in this group at 36.8%. Kirloskar Brothers has the largest FY26 revenue at Rs 4,615 crore, and HBL Engineering shows the fastest revenue growth with a 28.0% compound annual rate. A useful habit with compressor, pump and defence electronics 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
Elgi Equipments	886	1,083	22.1%
Kirloskar Brothers	995	1,120	12.5%
HBL Engineering	621	659	6.0%

Key Risks to Check Before Investing in Compressor, Pump and Defence Electronics Stocks

Every theme carries risks that deserve a check before any decision. For these compressor, pump and defence electronics stocks, the main points are: Long-term air compressor and pump maker shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.

Order timing. Project deliveries can shift between periods.
Input costs. Metal and material prices can move margins.
Government spending. Public projects depend on budgets.

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 compressor, pump and defence electronics stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.

Final Thoughts on Compressor, Pump and Defence Electronics Stocks

Compressor, pump and defence electronics stocks suit investors who prefer to study business strength before price moves. Elgi Equipments, Kirloskar Brothers and HBL Engineering each have a clear plan to grow. Based on the 27 October 2026 close, Elgi Equipments trades at Rs 521.85, Kirloskar Brothers at Rs 1,551.4 and HBL Engineering at Rs 788.

Download the Univest iOS App or Univest Android App to track compressor, pump and defence electronics stocks, set price alerts and get research-backed stock ideas.

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 compressor, pump and defence electronics stocks?

Ans. Compressor, pump and defence electronics stocks are listed engineering companies that make air compressors, pumps, valves, batteries and defence and railway electronics. Their earnings depend on industrial capital spending, government projects, order books and commodity costs. This list looks at three of them, Elgi Equipments, Kirloskar Brothers and HBL Engineering, using reported FY22 to FY26 financials and the 27 October 2026 closing prices.

Which compressor, pump and defence electronics stocks are covered in this list?

Ans. This list covers Elgi Equipments, Kirloskar Brothers and HBL Engineering. Based on the 27 October 2026 close, Elgi Equipments traded at Rs 521.85, Kirloskar Brothers at Rs 1,551.4 and HBL Engineering at Rs 788. Their return on equity ranges from 15.2% to 36.8%, and their revenue compound annual growth from FY22 to FY26 ranges from 10.5% to 28.0%.

Why do compressor, pump and defence electronics stocks have a strong future roadmap in India?

Ans. Compressor, pump and defence electronics stocks have a strong roadmap in India because rising industrial investment, water and irrigation projects and defence and railway modernisation keep widening the market for Indian engineering firms. The main drivers are as follows. Industrial spending. Factories add equipment and automation. Water projects. Irrigation and supply schemes need pumps. Defence and rail. Safety and electronics orders add visibility. Together these factors give the companies on this list a visible path for growth over the coming years.

How has Elgi Equipments performed financially?

Ans. Revenue rose from Rs 2,580 crore in FY22 to Rs 4,068 crore in FY26, a compound annual growth rate of 12.1%. Net profit grew from Rs 178 crore in FY22 to Rs 430 crore in FY26, which works out to a compound annual growth rate of 24.6%. In the June 2026 quarter, revenue grew 22.1% year on year to Rs 1,083 crore, while net profit rose 20.7% to Rs 103 crore. The company has a return on equity of 19.3%, a debt to equity ratio of 0.24 and a market capitalisation of Rs 17,259 crore. The stock trades at a P/E of 38.5, below the industry P/E of 44.4. Looking ahead, the company is growing its oil-free and energy-efficient compressor range and building a service-led annuity through spares and aftermarket support. International units add geographic spread, and automation in manufacturing improves efficiency.

How has Kirloskar Brothers performed financially?

Ans. Revenue rose from Rs 3,090 crore in FY22 to Rs 4,615 crore in FY26, a compound annual growth rate of 10.5%. Net profit grew from Rs 81.5 crore in FY22 to Rs 361 crore in FY26, which works out to a compound annual growth rate of 45.1%. In the June 2026 quarter, revenue grew 12.5% year on year to Rs 1,120 crore. The company has a return on equity of 15.2%, a debt to equity ratio of 0.10 and a market capitalisation of Rs 13,186 crore. The stock trades at a P/E of 35.0, below the industry P/E of 43.0. Looking ahead, the company benefits from public spending on water supply, irrigation and urban infrastructure, and it is growing its project and aftermarket business. A deep service network supports repeat orders.

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.

What risks should investors check before buying compressor, pump and defence electronics stocks?

Ans. Investors should check a few risks before buying compressor, pump and defence electronics stocks. Order timing. Project deliveries can shift between periods. Input costs. Metal and material prices can move margins. Government spending. Public projects depend on budgets. 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 compressor, pump and defence electronics stocks investment advice?

Ans. No. This article is educational and uses publicly available data as of the 27 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.