6 PSU defence stocks with orderbook of up to ₹1,30,000 Cr to add to your watchlist

The Ministry of Defence’s budget includes allocations for the three armed services, as well as expenditures on research and development and border roads. For the fiscal year 2025-26, the Ministry has been allocated Rs. 6,81,210 crore. This amount covers expenditures for both military personnel and civilians, pensions, modernization of the armed forces, production facilities, maintenance, and research and development organisations.

Following are a few defence stocks with order book of up to Rs. 1,30,000 crores:

1. Bharat Dynamics Limited

With a market cap of Rs. 46,947.4 crores, the shares of one of India’s leading defence Public Sector Undertakings (PSUs) engaged in the manufacturing of guided missiles and allied defence equipments moved up by around 3 percent on BSE to Rs. 1,318.2 on Friday. As of 30th September 2024, the order book of Bharat Dynamics stood at Rs. 18,852 crores.

Bharat Dynamics Limited (BDL), a Government of India Enterprise under the Ministry of Defence, is engaged in the business of manufacturing Missiles and allied Defence Equipments. It provides a majority of its goods and services to the Indian Armed Forces and the Government of India. 

The company has three manufacturing units, located at Kanchanbagh (Hyderabad) in Telangana State, Bhanur (Sangareddy District) in Telangana State and Visakhapatnam in Andhra Pradesh. BDL is in the process of setting up additional facilities at Amaravati (Maharashtra), lbrahimpatnam (Telangana) and Jhansi (Uttar Pradesh).

2. Bharat Electronics Limited

With a market cap of Rs. 2.2 lakh crores, the shares of this Navratna Defence PSU company engaged in manufacturing and supplying electronic equipment and systems to the defence sector moved up by around 2 percent on BSE to Rs. 306.5 on Friday As of early March 2025, BEL’s total order inflow for the current financial year (FY25) has reached Rs. 13,724 crore.

Bharat Electronics Limited (BEL) is a Government of India undertaking Navratna PSU, primarily engaged in the business of manufacturing and supply of electronic equipment and systems for the defence and civilian segments.

3. Mazagon Dock Shipbuilders Limited

With a market cap of Rs. 1.06 lakh crores, the shares of India’s premier Warship and Submarine builders moved up by around 2 percent on BSE to Rs. 2,751 on Friday. As of 31st December 2024, the order book of Mazagon Dock Shipbuilders stood at Rs. 34,787 crores. The management expects additional orders for three submarines (P-75) before 31st March 2025.

Mazagon Dock Shipbuilders Limited provides a wide range of services including shipbuilding, ship repairs and ship refits to both government and private institutions. It is a key supplier of warships, missile boats and submarines to the Indian Navy and Indian Coast Guard.

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4. Cochin Shipyard Limited

With a market cap of Rs. 37,005 crores, the shares of one of the leading shipbuilding and repair yards in India moved up by around 3 percent on BSE to Rs. 1,468.75 on Friday. As of September 2024, Cochin Shipyard’s order book stood at Rs. 22,500 crores, with 70 percent coming from the defence sector, 15 percent from commercial exports, 6 percent from domestic commercial orders, and 9 percent from its subsidiaries.

Cochin Shipyard Limited, one of the leading shipyards in India, is primarily engaged in the business of shipbuilding and ship repair, in both the domestic and international markets.

5. Garden Reach Shipbuilders Limited

With a market cap of Rs. 19,295.7 crores, the shares of one of the leading warship builders in India moved up by around 3 percent on BSE to Rs. 1,744.6 on Friday. 
The company’s current order book stands at Rs. 23,877 crores, while the management expects the order book to crores Rs. 40,000 crores by the end of FY26.

Incorporated in 1934, Garden Reach Shipbuilders & Engineers Limited is mainly engaged in the construction of warships. The Company was taken over by the Government of India in 1960. Garden Reach Shipbuilders aims to become a Navratna company by 2030 and be globally recognised as the best Indian Shipyard company.

6. Hindustan Aeronautics Limited

With a market cap of Rs. 2.79 lakh crores, the stock moved up by around 3.2 percent on BSE to Rs. 4,294 on Friday. As of December 2024, the order book of HAL stood at Rs. 1.3 lakh crores, and is expected to touch Rs. 2.5 lakh crores by the end of 2025-26.

Hindustan Aeronautics Limited (HAL) is engaged in the design, development, manufacture, repair, overhaul, upgrade and servicing of a wide range of products including, aircraft, helicopters, aero-engines, avionics, accessories and aerospace structures.

Written by Shivani Singh

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