Top 10 Engineering Companies In India By Market Cap

Engineering companies play an important role in our society. They provide the expertise and skills needed for the development of various products and structures. In this article, we will explore the overview of engineering companies in India, the benefits of working with them, and the different types of engineering companies.

Engineering Companies in India: Driving Economic Growth and Innovation

India, a country known for its rich cultural heritage and vast diversity, has also established itself as a global leader in engineering. With a strong focus on research and development, the country is home to numerous engineering companies that play a significant role in driving innovation and economic growth.

India is home to a vast pool of highly skilled engineers and technical professionals, making it an attractive destination for engineering companies seeking to establish or expand their operations. The country offers a wide range of technical expertise, from electrical engineering to software development, making it an ideal place for companies specializing in various sectors.

Also Read: Top 10 Mining & Mineral Products Companies in India 2024

Top 10 Engineering Companies List by Market Capitalisation

India's engineering sector is an important pillar of its economy, encompassing a wide range of industries ranging from infrastructure and construction to technology and manufacturing. Engineering companies in India are renowned for their innovation, technological expertise, and contribution to national development. In this blog post, we highlight the top 10 engineering companies in India, each of which plays a significant role in shaping the country's industrial landscape and global competitiveness. Here are the best Engineering Companies in India based on various factors such as revenue, market share, and industry reputation:

1. Thermax Ltd

• Market Cap: ₹ 64,098.38 Cr.
• Sales (latest quarter): ₹ 2763.68 Cr.
• Net Profit (latest quarter): ₹ 187.58 Cr.
• Quarterly profit growth: 20.25 %
• Exchange: BSE, NSE
• Official Website: thermaxglobal.com

Thermax Ltd, established in 1966 by A.S. Bhathena, started as a small boiler manufacturer and has evolved into a leading energy and environment solutions provider. The company was later spearheaded by Rohinton Aga, who transformed it into a diversified engineering conglomerate. Thermax operates across various sectors, including energy, environment, and chemical, offering a comprehensive range of products and services. In the energy sector, Thermax provides solutions such as boilers, heaters, power plants, and solar equipment. Its environment segment includes water and wastewater treatment, air pollution control, and waste management solutions. Additionally, Thermax offers specialty chemicals for various industrial applications.

In the current market scenario, Thermax is recognized for its innovative and sustainable solutions that cater to industries like power, oil and gas, chemical, food and beverage, and more. The company's strong focus on research and development, along with its commitment to sustainability, has positioned it as a leader in green technology and energy efficiency. Thermax's global footprint spans over 90 countries, supported by a robust infrastructure of manufacturing facilities and service centers. Despite challenges such as economic fluctuations and regulatory pressures, Thermax continues to grow by focusing on technological advancements, expanding its product range, and enhancing its service offerings to meet the evolving needs of its diverse clientele.

2. Jupiter Wagons Ltd

• Market Cap: ₹ 28,759.57 Cr.
• Sales (latest quarter): ₹ 1112.93 Cr.
• Net Profit (latest quarter): ₹ 104.22 Cr.
• Quarterly profit growth: 155.57 %
• Exchange: BSE, NSE
• Official Website: jupiterwagons.com

Jupiter Wagons Ltd, established in 1979, has grown to become a prominent player in the manufacturing of railway wagons and related components in India. Initially focusing on producing freight wagons, the company has expanded its capabilities to include a wide range of products and services tailored to the railway and heavy engineering sectors. Over the years, Jupiter Wagons has built a reputation for quality and innovation, positioning itself as a reliable supplier to Indian Railways and various private sector clients.

In the current market scenario, Jupiter Wagons operates in a competitive landscape, driven by the increasing demand for efficient and high-capacity rail transport solutions. The company's product range includes a variety of freight wagons, passenger coaches, wagon components, and bogies. Additionally, Jupiter Wagons has diversified into the manufacturing of couplers, draft gears, and other railway fittings, further strengthening its market presence. The company also provides maintenance and refurbishment services for rolling stock, ensuring long-term operational efficiency for its clients.

Jupiter Wagons' strategic focus on technological advancement, quality control, and customer-centric solutions has enabled it to maintain a strong market position. As the Indian railway sector undergoes modernization and expansion, Jupiter Wagons is poised to capitalize on these opportunities by continuing to innovate and expand its product and service offerings to meet the evolving needs of the industry.

3. Jyoti CNC Automation Ltd

• Market Cap: ₹ 27,518.19 Cr.
• Sales (latest quarter): ₹ 450.13 Cr.
• Net Profit (latest quarter): ₹ 99.64 Cr.
• Quarterly profit growth: 125.99 %
• Exchange: BSE, NSE
• Official Website: jyoti.co.in

Jyoti CNC Automation Ltd, founded in 1989 by Parakramsinh Jadeja in Rajkot, Gujarat, has emerged as a leading manufacturer of CNC (Computer Numerical Control) machines in India. Initially a small workshop, Jyoti CNC has grown significantly by embracing advanced technology and innovation, quickly establishing itself as a key player in the machine tool industry. The company's historical focus on precision engineering and quality has allowed it to expand its product range and cater to diverse industrial sectors.

In the current market scenario, Jyoti CNC Automation Ltd is renowned for its wide array of CNC machines, including turning centers, machining centers, turn-mill centers, and high-tech multi-tasking machines. These products serve various industries such as automotive, aerospace, defense, railways, and general engineering. Jyoti CNC's commitment to innovation is reflected in its state-of-the-art manufacturing facilities and a strong emphasis on research and development. The company also offers comprehensive after-sales services, including maintenance, training, and technical support, ensuring customer satisfaction and long-term relationships.

Jyoti CNC continues to strengthen its market presence both domestically and internationally by adhering to global quality standards and expanding its product portfolio. Its strategic focus on technological advancements, customer-centric approach, and dedication to excellence positions Jyoti CNC as a leader in the CNC machinery sector, poised for sustained growth in the evolving industrial landscape.

4. Titagarh Rail Systems Ltd

• Market Cap: ₹ 20,235.35 Cr.
• Sales (latest quarter): ₹ 1052.41 Cr.
• Net Profit (latest quarter): ₹ 78.95 Cr.
• Quarterly profit growth: 69.02 %
• Exchange: BSE, NSE
• Official Website: titagarh.in

Titagarh Rail Systems Ltd, originally founded as Titagarh Wagons Ltd in 1997, has evolved into a leading player in the railways and heavy engineering sector in India. Initially focused on manufacturing freight wagons, the company expanded its portfolio to include passenger coaches, metro coaches, and specialized defense vehicles, reflecting its robust engineering capabilities and commitment to innovation. Over the years, Titagarh Rail Systems has diversified further into shipbuilding, bridges, and other heavy engineering structures, marking its transition from a wagon manufacturer to a comprehensive rail and infrastructure solutions provider.

In the current market scenario, Titagarh Rail Systems operates as a key supplier to Indian Railways and various international clients, capitalizing on the growing demand for modern rail transport solutions. The company's product range encompasses freight and passenger rolling stock, propulsion systems, and train control systems. It also engages in the construction of metro coaches and other urban transit systems, catering to the increasing urbanization and need for efficient public transport solutions. Additionally, Titagarh Rail Systems offers maintenance, repair, and overhaul (MRO) services to ensure the longevity and performance of its products.

Leveraging its advanced manufacturing facilities, technological expertise, and a strategic focus on sustainability, Titagarh Rail Systems continues to strengthen its market position. The company is well-placed to benefit from ongoing investments in rail infrastructure and urban transit systems, both in India and abroad, positioning itself for sustained growth and innovation in the transportation sector.

5. Action Construction Equipment Ltd

• Market Cap: ₹ 17,629.08 Cr.
• Sales (latest quarter): ₹ 835.84 Cr.
• Net Profit (latest quarter): ₹ 98.45 Cr.
• Quarterly profit growth: 108.78 %
• Exchange: BSE, NSE
• Official Website: ace-cranes.com

Action Construction Equipment Ltd (ACE), established in 1995 by Vijay Agarwal, has grown to become a leading manufacturer of construction and material handling equipment in India. Starting with a focus on cranes, the company quickly diversified its product range to include a wide array of equipment used in the construction, agriculture, and industrial sectors. Over the years, ACE has established a strong reputation for its robust and reliable machinery, which has significantly contributed to India's infrastructure development.

In the current market scenario, ACE is recognized as a market leader in mobile and tower cranes, with a substantial share of the Indian market. The company's product portfolio includes mobile cranes, tower cranes, crawler cranes, backhoe loaders, forklift trucks, tractors, and other construction equipment. ACE also provides solutions for material handling and warehousing, catering to a broad spectrum of industries such as construction, infrastructure, logistics, and agriculture. The company's products are known for their durability, efficiency, and advanced technology, which meet the diverse needs of its customers.

ACE's extensive sales and service network across India ensures prompt support and maintenance services, enhancing customer satisfaction and loyalty. With ongoing investments in innovation and technology, ACE continues to expand its product offerings and strengthen its market position. The company's commitment to quality and customer-centric approach positions it well to capitalize on the growing demand for construction and material handling equipment, both domestically and internationally.

6. Elecon Engineering Company Ltd

• Market Cap: ₹ 14,805.88 Cr.
• Sales (latest quarter): ₹ 564.62 Cr.
• Net Profit (latest quarter): ₹ 103.65 Cr.
• Quarterly profit growth: 52.56 %
• Exchange: BSE, NSE
• Official Website: elecon.com

Elecon Engineering Company Ltd, established in 1951, initially focused on manufacturing conveyor systems before diversifying into power transmission equipment. Based in India, Elecon has grown into one of the largest manufacturers in Asia for industrial gears and material handling equipment. Over the decades, the company expanded its product range and market reach, venturing into various sectors such as mining, power, steel, sugar, cement, and port mechanization. Currently, Elecon holds a strong market presence both domestically and internationally, driven by its commitment to innovation and quality. The company’s extensive product portfolio includes helical and bevel helical gears, planetary gears, worm gears, couplings, and conveyor systems, among others. Elecon also offers a comprehensive suite of services, including installation, commissioning, maintenance, and technical support, ensuring end-to-end solutions for its clients. In the contemporary market scenario, Elecon is recognized for its robust engineering capabilities, state-of-the-art manufacturing facilities, and a dedicated R&D division that supports continuous product improvement and development. The company's ability to adapt to changing market demands and technological advancements has cemented its position as a leading player in the industrial equipment sector.

7. Praj Industries Ltd

• Market Cap: ₹ 12,526.78 Cr.
• Sales (latest quarter): ₹ 1018.56 Cr.
• Net Profit (latest quarter): ₹ 91.93 Cr.
• Quarterly profit growth: 4.34 %
• Exchange: BSE, NSE
• Official Website: praj.net

Praj Industries Ltd, founded in 1983, began as a provider of process solutions for the brewery industry in India. Over the years, it evolved into a global leader in bio-based technology and engineering, focusing on renewable energy, wastewater treatment, and environmental solutions. Headquartered in Pune, India, Praj has established a significant international presence with its innovative technologies and sustainable practices. In the current market scenario, Praj is a recognized player in the renewable energy sector, particularly known for its advancements in bioethanol plants, biogas, biodiesel production, and second-generation biofuels. Its product and service range encompasses high-efficiency biofuel plants, water and wastewater treatment systems, critical process equipment, and customized engineering solutions for the oil and gas, petrochemical, and pharmaceutical industries. Praj also offers comprehensive project management, commissioning, and lifecycle support services, ensuring end-to-end solutions for its clients. The company's emphasis on R&D and sustainability has driven its growth, allowing it to meet the increasing global demand for clean energy and eco-friendly technologies. With a commitment to innovation and environmental stewardship, Praj Industries continues to expand its footprint, contributing significantly to the global shift towards greener and more sustainable industrial practices.

8. Texmaco Rail & Engineering Ltd

• Market Cap: ₹ 8,484.67 Cr.
• Sales (latest quarter): ₹ 1144.56 Cr.
• Net Profit (latest quarter): ₹ 46.99 Cr.
• Quarterly profit growth: 168.05 %
• Exchange: BSE, NSE
• Official Website: texmaco.in

Texmaco Rail & Engineering Ltd, established in 1939 as a part of the Birla Group, has a rich history rooted in manufacturing railway freight cars. Over the decades, the company has diversified and expanded its capabilities to become a prominent player in the rail and heavy engineering sectors. Headquartered in Kolkata, India, Texmaco Rail is renowned for its extensive range of products and services, including freight cars, passenger coaches, metro coaches, locomotives, hydro-mechanical equipment, steel castings, and bridges. In the current market scenario, Texmaco Rail is recognized for its comprehensive engineering solutions that cater to the growing demands of the rail and infrastructure sectors both in India and internationally. The company’s product range is complemented by its expertise in project management, consultancy, and turnkey solutions, providing end-to-end services from design to commissioning. Texmaco's state-of-the-art manufacturing facilities and a strong focus on research and development enable it to deliver high-quality, innovative solutions. As the global focus shifts towards modernizing rail infrastructure and expanding urban transit systems, Texmaco Rail & Engineering Ltd continues to leverage its historical expertise and advanced technological capabilities to maintain a competitive edge and drive sustainable growth in the industry.

9. Lloyds Engineering Works Ltd

• Market Cap: ₹ 7,924.30 Cr.
• Sales (latest quarter): ₹ 187.9 Cr.
• Net Profit (latest quarter): ₹ 21.13 Cr.
• Quarterly profit growth: 229.13 %
• Exchange: BSE, NSE
• Official Website: lloydsengg.in

Lloyds Engineering Works Ltd, with its origins tracing back to the 1970s, has evolved into a significant player in the engineering and infrastructure sectors in India. Initially focused on steel manufacturing, the company expanded its portfolio to encompass a wide range of engineering solutions. Headquartered in Mumbai, Lloyds Engineering Works has established itself as a trusted name in heavy engineering and fabrication. In the current market scenario, the company is recognized for its diverse product and service offerings, which include the manufacturing of pressure vessels, heat exchangers, reactors, and various heavy machinery components. Additionally, Lloyds Engineering Works specializes in turnkey project execution, providing comprehensive solutions from design and engineering to manufacturing and installation. The company's robust infrastructure, advanced manufacturing facilities, and strong emphasis on quality and innovation have enabled it to meet the stringent demands of various industries such as oil and gas, petrochemicals, power, and infrastructure. Lloyds Engineering Works Ltd continues to leverage its extensive experience and technical expertise to cater to both domestic and international markets, maintaining a competitive edge through continuous improvement and adaptation to evolving market needs.

10. Ion Exchange (India) Ltd

• Market Cap: ₹ 7,775.55 Cr.
• Sales (latest quarter): ₹ 781.81 Cr.
• Net Profit (latest quarter): ₹ 72.45 Cr.
• Quarterly profit growth: -10.76 %
• Exchange: BSE, NSE
• Official Website: ionexchangeglobal.com

Ion Exchange (India) Ltd, established in 1964, has grown from a pioneer in water treatment to a leader in sustainable water and environment management solutions. Initially focusing on the production of ion exchange resins, the company expanded its expertise over the decades to encompass a wide range of technologies for water and wastewater treatment. Headquartered in Mumbai, Ion Exchange serves a diverse clientele across various sectors, including municipal, industrial, residential, and institutional. In the current market scenario, the company is recognized for its innovative and comprehensive product and service offerings, which include water treatment chemicals, water and wastewater treatment plants, ion exchange resins, membrane solutions, and more. Additionally, Ion Exchange provides integrated project management and consultancy services, covering design, engineering, installation, and maintenance. Their state-of-the-art manufacturing facilities and strong R&D capabilities enable them to deliver high-quality, customized solutions that meet stringent regulatory standards. As global concerns over water scarcity and environmental sustainability grow, Ion Exchange continues to leverage its extensive experience and technological prowess to address these challenges. The company’s commitment to innovation and sustainability positions it as a key player in the water treatment industry, both in India and internationally.

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Role of Engineering Companies

Engineering companies play an essential role in construction projects. They are responsible for designing, planning, and executing construction projects. From bridges and buildings to roads and infrastructure, engineering companies ensure that these structures are safe, functional, and meet the required standards.

In addition to construction projects, engineering companies play a significant role in research and development. They collaborate with various industries to develop new technologies, products, and processes. Engineering companies employ highly skilled professionals who use their expertise and technical knowledge to solve complex problems and develop innovative solutions.

Innovation is another area where engineering companies excel. They constantly strive to stay at the forefront of technological advancements and offer innovative solutions to challenges faced by various stakeholders. Engineering companies work closely with clients to understand their needs and develop customized solutions that meet these requirements.

Challenges of Engineering Companies

While engineering companies play a vital role in our society, they face several challenges. One such challenge is project management. Managing complex projects involving multiple stakeholders, timelines, and resources can be challenging. Engineering companies often face challenges in managing project timelines, budget constraints, and coordinating with various parties involved.

Another challenge for engineering companies is resource management. Engineering projects often require a highly skilled and diverse workforce. However, sourcing, hiring, and managing this workforce can be time-consuming and costly. Engineering companies need to continuously train and develop their workforce to stay competitive and meet the demands of the ever-changing industry.

Effective communication is also a significant challenge for engineering companies. In construction projects, effective communication is crucial to ensure seamless coordination between all stakeholders. Engineering companies often face challenges in managing and sharing information effectively, leading to misunderstandings and delays.

Conclusion

Engineering companies in India have not only established themselves as major players in the global engineering landscape but have also played a key role in driving innovation and economic growth. With their technical expertise and emphasis on collaboration, these companies are contributing to the country's development and shaping the future of engineering.