3 Motors and Switchgear, Cryogenic Vessels and Water Control Gates Stocks With a Strong Future Roadmap: CG Power and Industrial Solutions, Inox India and Jash Engineering

Industrial engineering stocks follow the companies that supply equipment to factories, utilities and infrastructure projects. CG Power and Industrial Solutions, Inox India and Jash Engineering cover power and industrial systems, cryogenic storage equipment and flow control and water management products.

This list covers three industrial engineering stocks with complete current figures: CG Power and Industrial Solutions, Inox India and Jash Engineering. Every figure comes from the latest reported financials and the 20 October 2026 market close. Companies without complete current figures were left out.

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What Are Industrial Engineering Stocks?

Industrial engineering stocks are listed companies that design and make machinery, electrical systems and process equipment. Their earnings follow factory investment, utility spending and order book execution.

Industrial Engineering Stocks at a Glance

On valuation, Jash Engineering trades at a P/E below the industry P/E, while CG Power and Industrial Solutions and Inox India trade above it, which reflects the growth the market already expects. Readers comparing industrial engineering stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.

Why Do Industrial Engineering Stocks Have a Strong Roadmap in India?

Industrial engineering stocks have a strong roadmap in India because manufacturing investment, grid expansion, gas logistics and water projects are all lifting demand for engineered equipment.

• Grid and factory spending. Motors, drives and switchgear are needed in new plants and networks.
• Gas logistics. Liquefied gas storage and transport need cryogenic equipment.
• Water infrastructure. Treatment and supply projects order gates and valves.

Why CG Power and Industrial Solutions Features Among These Industrial Engineering Stocks

Among the industrial engineering stocks on this list, CG Power and Industrial Solutions makes transformers, motors, switchgear, drives and railway equipment for utilities, industry and railways, and has also entered semiconductor packaging.

Revenue rose from Rs 5,521 crore in FY22 to Rs 12,662 crore in FY26, a compound annual growth rate of 23.1%. Net profit grew from Rs 630 crore in FY22 to Rs 1,197 crore in FY26, which works out to a compound annual growth rate of 17.4%.

In the June 2026 quarter, revenue grew 15.8% year on year to Rs 3,364 crore, while net profit rose 15.5% to Rs 308 crore. The company has a return on equity of 15.1%, a debt to equity ratio of 0.01 and a market capitalisation of Rs 134,561 crore. The stock trades at a P/E of 108.5, above the industry P/E of 43.9.

Roadmap: The company is growing in power systems and industrial systems on the back of grid expansion and factory investment. It has built an outsourced semiconductor assembly and test plant, which opens a new technology line.

What to watch: Monitor the ramp-up of its semiconductor facility and order intake in power systems.

Why Inox India Features Among These Industrial Engineering Stocks

Among the electrical machinery shares on this list, Inox India, based in Vadodara, is a leading maker of cryogenic tanks and systems used to store and transport industrial gases, LNG and other liquefied gases.

In the June 2026 quarter, revenue grew 8.3% year on year to Rs 382 crore. Revenue rose from Rs 804 crore in FY22 to Rs 1,632 crore in FY26, a compound annual growth rate of 19.4%.

Net profit grew from Rs 130 crore in FY22 to Rs 258 crore in FY26, which works out to a compound annual growth rate of 18.6%. The company has a return on equity of 23.1%, a debt to equity ratio of 0.07 and a market capitalisation of Rs 18,179 crore. The stock trades at a P/E of 71.3, above the industry P/E of 22.4.

Roadmap: Demand for industrial gases, LNG infrastructure, hydrogen and space-related applications supports its order flow. Its equipment is built for long service life, and a large share of sales comes from exports, which provides geographic spread.

What to watch: Monitor order inflow from LNG and industrial gas customers, as large orders can shape quarterly numbers.

Why Jash Engineering Features Among These Industrial Engineering Stocks

Among the three companies on this list, Jash Engineering makes flow control products such as sluice gates, valves, penstocks and screens for water and wastewater projects, and serves irrigation, power and industrial customers.

The company has a return on equity of 14.7%, a debt to equity ratio of 0.20 and a market capitalisation of Rs 3,380 crore. The stock trades at a P/E of 39.4, below the industry P/E of 44.4.

Revenue rose from Rs 374 crore in FY22 to Rs 757 crore in FY26, a compound annual growth rate of 19.3%. Net profit grew from Rs 32.2 crore in FY22 to Rs 75.5 crore in FY26, which works out to a compound annual growth rate of 23.8%. In the June 2026 quarter, revenue grew 17.3% year on year to Rs 156 crore.

Roadmap: Spending on water supply, sewage treatment and irrigation projects creates a steady stream of orders for flow control equipment. The company has widened its range through acquisitions and sells to customers in India and overseas.

What to watch: Track order inflow from water projects and the margin trend as new product lines scale.

CG Power and Industrial Solutions vs Inox India vs Jash Engineering on Key Financials

The table below sets the three industrial engineering stocks side by side on revenue, profit and margin, using reported figures.

Inox India posts the highest return on equity in this group at 23.1%. CG Power and Industrial Solutions combines the largest FY26 revenue at Rs 12,662 crore with the fastest revenue growth, a 23.1% compound annual rate. A useful habit with industrial engineering 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:

Key Risks to Check Before Investing in Industrial Engineering Stocks

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

• Capex cycles. Orders depend on the pace of industrial investment.
• Delivery timing. Large orders may be executed across several quarters.
• 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 industrial engineering stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.

Final Thoughts on Industrial Engineering Stocks

Industrial engineering stocks suit investors who follow order inflow and execution. CG Power and Industrial Solutions, Inox India and Jash Engineering each apply engineering skill to a growing need. Based on the 20 October 2026 close, CG Power and Industrial Solutions trades at Rs 855, Inox India at Rs 1,999.4 and Jash Engineering at Rs 535.15. Valuation matters as much as growth, so compare each company's P/E with its industry P/E before adding any of these industrial engineering stocks to a watchlist.

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What are industrial engineering stocks?

Ans. Industrial engineering stocks are listed companies that design and make machinery, electrical systems and process equipment. Their earnings follow factory investment, utility spending and order book execution. This list looks at three of them, CG Power and Industrial Solutions, Inox India and Jash Engineering, using reported FY22 to FY26 financials and the 20 October 2026 closing prices.

Which industrial engineering stocks are covered in this list?

Ans. This list covers CG Power and Industrial Solutions, Inox India and Jash Engineering. Based on the 20 October 2026 close, CG Power and Industrial Solutions traded at Rs 855, Inox India at Rs 1,999.4 and Jash Engineering at Rs 535.15. Their return on equity ranges from 14.7% to 23.1%, and their revenue compound annual growth from FY22 to FY26 ranges from 19.3% to 23.1%.

Why do industrial engineering stocks have a strong future roadmap in India?

Ans. Industrial engineering stocks have a strong roadmap in India because manufacturing investment, grid expansion, gas logistics and water projects are all lifting demand for engineered equipment. The main drivers are as follows. Grid and factory spending. Motors, drives and switchgear are needed in new plants and networks. Gas logistics. Liquefied gas storage and transport need cryogenic equipment. Water infrastructure. Treatment and supply projects order gates and valves. Together these factors give the companies on this list a visible path for growth over the coming years.

How has CG Power and Industrial Solutions performed financially?

Ans. Revenue rose from Rs 5,521 crore in FY22 to Rs 12,662 crore in FY26, a compound annual growth rate of 23.1%. Net profit grew from Rs 630 crore in FY22 to Rs 1,197 crore in FY26, which works out to a compound annual growth rate of 17.4%. In the June 2026 quarter, revenue grew 15.8% year on year to Rs 3,364 crore, while net profit rose 15.5% to Rs 308 crore. The company has a return on equity of 15.1%, a debt to equity ratio of 0.01 and a market capitalisation of Rs 134,561 crore. The stock trades at a P/E of 108.5, above the industry P/E of 43.9. Looking ahead, the company is growing in power systems and industrial systems on the back of grid expansion and factory investment. It has built an outsourced semiconductor assembly and test plant, which opens a new technology line.

How has Inox India performed financially?

Ans. Revenue rose from Rs 804 crore in FY22 to Rs 1,632 crore in FY26, a compound annual growth rate of 19.4%. Net profit grew from Rs 130 crore in FY22 to Rs 258 crore in FY26, which works out to a compound annual growth rate of 18.6%. In the June 2026 quarter, revenue grew 8.3% year on year to Rs 382 crore. The company has a return on equity of 23.1%, a debt to equity ratio of 0.07 and a market capitalisation of Rs 18,179 crore. The stock trades at a P/E of 71.3, above the industry P/E of 22.4. Looking ahead, demand for industrial gases, LNG infrastructure, hydrogen and space-related applications supports its order flow. Its equipment is built for long service life, and a large share of sales comes from exports, which provides geographic spread.

How has Jash Engineering performed financially?

Ans. Revenue rose from Rs 374 crore in FY22 to Rs 757 crore in FY26, a compound annual growth rate of 19.3%. Net profit grew from Rs 32.2 crore in FY22 to Rs 75.5 crore in FY26, which works out to a compound annual growth rate of 23.8%. In the June 2026 quarter, revenue grew 17.3% year on year to Rs 156 crore. The company has a return on equity of 14.7%, a debt to equity ratio of 0.20 and a market capitalisation of Rs 3,380 crore. The stock trades at a P/E of 39.4, below the industry P/E of 44.4. Looking ahead, spending on water supply, sewage treatment and irrigation projects creates a steady stream of orders for flow control equipment. The company has widened its range through acquisitions and sells to customers in India and overseas.

What risks should investors check before buying industrial engineering stocks?

Ans. Investors should check a few risks before buying industrial engineering stocks. Capex cycles. Orders depend on the pace of industrial investment. Delivery timing. Large orders may be executed across several quarters. 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 industrial engineering stocks investment advice?

Ans. No. This article is educational and uses publicly available data as of the 20 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.