Sector analysis · India
Capital Goods sector earnings growth, Q2 FY25
The 20 largest Capital Goods companies by market cap at the end of Q2 FY25 (30 Sep 2024), compared with Q1 FY25.
The top 20 at Q2 FY25
Q2 FY25 vs Q1 FY25: combined net profit ₹8,034 cr (+12%), median EPS −1% (10 of 20 up), market-cap-weighted price −5%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Hindustan Aeronautics Limited | 14.1% | 21.49 → 22.59 | +5% | +1.0 pp | −16% |
| 2 | Siemens Limited | 12.3% | 16.22 → 23.33 | +44% | +3.3 pp | −6% |
| 3 | Bharat Electronics Limited | 10.0% | 1.08 → 1.49 | +38% | +4.0 pp | −7% |
| 4 | A B B | 8.2% | 20.93 → 20.78 | −1% | 0.0 pp | −5% |
| 5 | CG Power and Industrial Solutions Limited | 5.5% | 1.58 → 1.44 | −9% | −0.3 pp | +8% |
| 6 | Suzlon Energy Limited | 5.2% | 0.22 → 0.15 | −32% | −1.3 pp | +52% |
| 7 | Cummins India Limited | 5.0% | 16.69 → 16.21 | −3% | −0.2 pp | −4% |
| 8 | Polycab India Limited | 5.0% | 26.34 → 29.24 | +11% | +0.6 pp | +3% |
| 9 | B H E L | 4.7% | −0.61 → 0.30 | turned profitable | +4.2 pp | −7% |
| 10 | Mazagon Dock Shipbuilders Limited | 4.1% | 17.26 → 14.50 | −16% | −1.5 pp | −1% |
| 11 | Ashok Leyland Limited | 3.3% | 0.87 → 1.20 | +38% | +2.6 pp | −3% |
| 12 | Supreme Industries Limited | 3.2% | 21.52 → 16.26 | −24% | −0.9 pp | −11% |
| 13 | Hitachi Energy India Limited | 2.9% | 2.46 → 12.34 | +402% | +0.6 pp | +13% |
| 14 | Thermax Limited | 2.9% | 9.72 → 16.54 | +70% | +1.1 pp | −5% |
| 15 | Astral Limited | 2.6% | 4.48 → 4.09 | −9% | −0.1 pp | −16% |
| 16 | Premier Energies Limited | 2.3% | 5.93 → 4.57 | −23% | +0.1 pp | — |
| 17 | Escorts Kubota Limited | 2.3% | 26.53 → 28.98 | +9% | +0.4 pp | +3% |
| 18 | Cochin Shipyard Limited | 2.2% | 6.62 → 7.18 | +8% | +0.2 pp | −21% |
| 19 | APL Apollo Tubes Limited | 2.1% | 6.96 → 1.94 | −72% | −1.8 pp | +2% |
| 20 | Honeywell Automation India Limited | 2.1% | 154.34 → 130.18 | −16% | −0.3 pp | −14% |
| Sector earnings growth | 100% | +11.5 pp |
Who joined and who left
1 joined and 1 left the top 20 since Q1 FY25, as market caps moved.
Joined the top 20 since Q1 FY25
Left the top 20 since Q1 FY25
- Bharat Dynamics Limited
EPS growth by company, Q2 FY24 to Q1 FY27
Each company's EPS growth quarter on quarter, every quarter it was in the top 20.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HAL | +52% | +2% | +242% | −67% | +5% | −5% | +176% | −65% | +21% | +12% | +125% | −62% |
| SIEMENS | +25% | −12% | +59% | −28% | +44% | −26% | −5% | −27% | +15% | −43% | +33% | +479% |
| BEL | +46% | +9% | +108% | −56% | +38% | +20% | +63% | −54% | +32% | +23% | +41% | −53% |
| ABB | +23% | −7% | +36% | −3% | −1% | +20% | −10% | −26% | +16% | +6% | +312% | −80% |
| CGPOWER | +20% | +206% | −69% | +3% | −9% | +7% | +16% | −1% | +3% | −1% | +28% | −16% |
| SUZLON | 0% | +88% | +27% | +16% | −32% | +87% | +211% | −72% | +288% | −66% | +153% | −73% |
| CUMMINSIND | −7% | +52% | +8% | −14% | −3% | +24% | −5% | +14% | +3% | −22% | +34% | −6% |
| POLYCAB | +6% | −3% | +32% | −28% | +11% | +4% | +59% | −19% | +16% | −9% | +24% | +1% |
| BHEL | sources disagree | sources disagree | sources disagree | to loss | turned profitable | +30% | +272% | to loss | turned profitable | +4% | +231% | −71% |
| MAZDOCK | +6% | +88% | +6% | +5% | −16% | +38% | −60% | +39% | +66% | +17% | −23% | −19% |
| ASHOKLEY | −3% | +6% | +53% | −40% | +38% | +8% | +48% | −46% | +24% | +7% | +59% | −52% |
| SUPREMEIND | +13% | +5% | +38% | −23% | −24% | −9% | +57% | −31% | −19% | outside | +183% | outside |
| POWERINDIA | outside | outside | outside | −91% | +402% | +163% | +27% | −28% | +101% | −1% | +26% | −11% |
| THERMAX | +168% | +51% | −20% | −39% | +70% | −41% | +77% | outside | outside | outside | outside | −90% |
| ASTRAL | +10% | −14% | +60% | −34% | −9% | +4% | outside | outside | outside | outside | +98% | outside |
| PREMIERENE | outside | outside | outside | outside | −23% | +24% | sources disagree | sources disagree | outside | outside | +17% | outside |
| ESCORTS | −23% | +27% | −11% | +16% | +9% | outside | outside | outside | outside | outside | outside | outside |
| COCHINSHIP | +84% | +35% | outside | −33% | +8% | outside | +62% | −35% | −43% | +34% | outside | outside |
| APLAPOLLO | +5% | −19% | +3% | +13% | −72% | +303% | +35% | −19% | +27% | +3% | +14% | outside |
| HONAUT | +18% | +5% | +16% | −8% | −16% | outside | outside | outside | outside | outside | outside | outside |