Radar · Industrial Goods and Manufacturing in Punjab
Best Industrial Goods and Manufacturing Companies in Punjab, India
The 94 best Industrial Goods and Manufacturing companies in Punjab, India in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: Spray Engineering.
By Riya SenguptaFinancials
94companies tracked
$8.7Mdisclosed funding
0unicorns
2have raised
FLIAR INTELLIGENCE · INDUSTRIAL GOODS AND MANUFACTURING × PUNJAB
Our analysis of 91 Industrial Goods and Manufacturing companies
$2.1b in tracked funding; 69% of the stack-profiled cohort runs cloud-native; funding activity peaked in 2025.
91companies analysed
69%cloud-native stacks
2025funding peak (by rounds)
2unicorns
2016median founding year
181kcombined LinkedIn audience
93%of audience held by top 3
1companies hiring publicly (12 mo)
Ranked: Best Industrial Goods and Manufacturing companies in Punjab
| # | Company | Disclosed funding | Revenue | Revenue YoY | Employees | Founded | Founder | Recent signals |
|---|---|---|---|---|---|---|---|---|
| 1 | Vardhman Manufacturer of textile products | — | $1.2B FY2025 | +3% | 24,339 | 1965 | Paul Oswal CEO | 1 award |
| 2 | Garg Acrylics Contract manufacturer of thread, garment, and fabrics | — | $208M FY2025 | +9% | 3,447 | 1999 | Rajeev Garg Managing Director | — |
| 3 | GNA Axles Manufacturer of automotive transmission components for top OE manufacturers worldwide | — | $182M FY2025 | +2% | 1,421 | 1946 | Ranbir Singh Owner | — |
| 4 | Fortune Group Leading manufacturer of TMT bars | — | $158M FY2024 | +3% | — | 2010 | Deep Bansal Managing Director | — |
| 5 | Hansa Metallics Provider of metal manufacturing services | — | $79M FY2025 | +16% | 531 | 1997 | Bhojraj Teli Managing Director | — |
| 6 | Cheema Boilers Manufacturer of boilers | — | $65M FY2025 | -15% | 750 | 1999 | Harjinder Cheema Managing Director | — |
| 7 | Spray Engineering Manufacturer of process equipment and turnkey solutions for various industries | $9M | $55M FY2025 | -16% | 389 | 1992 | Vivek Verma Founder & Managing Director | — |
| 8 | Jai Bhole Steel Tubes Manufacturer of ERW tubes for various industrial applications | — | $39M FY2025 | +16% | — | 2003 | Shivam Maini CEO | — |
| 9 | Kapsons Industries Manufacturer of electrical stampings & motors, and aluminum pressure die castings | — | $35M FY2025 | -5% | — | 1987 | Vipin Kapoor Owner | — |
| 10 | Mahawar Iron Stores Supplier of ferroalloys, cement, salt, metal scrap, and industrial chemicals | — | $31M FY2023 | — | — | 1948 | Neeraj Mahawar Managing Director | — |
| 11 | KISCO Load cell manufacturer | — | $29M FY2025 | +1% | — | 1992 | Raghav Goel CEO | — |
| 12 | Eastman Cast & Forge Manufacturer of power tools, sockets, socket sets, and wrenches | — | $27M FY2024 | -2% | — | 1989 | Jagdish Singal CEO & Managing Director | — |
| 13 | ARB Conveyors Manufacturer of highconveyor belts, offering solutions for material handling and conveying applications | — | $26M FY2025 | +352% | — | 2012 | Narender Thapar Owner | — |
| 14 | Gardex Manufacturer of hand and striking tools | — | $21M FY2025 | -4% | 67 | 1997 | Sarat Chopra Founder | — |
| 15 | Ganesh Expotrade Manufacturer of shoring systems and scaffolding supplies | — | $21M FY2025 | +14% | — | 1995 | P Singla Managing Director | — |
| 16 | Davinder Sandhu Impex Manufacturer and exporter of hosiery goods | — | $17M FY2025 | -2% | — | 1993 | Rajat Pathak CEO | — |
| 17 | HANSCO Iron and Steels Manufacturer of steel castings | — | $16M FY2025 | +2% | — | 2011 | Manu Bansal CEO | — |
| 18 | Bajaj Processors Contract manufacturer of fabric processing and printing | — | $15M FY2022 | — | 40 | 2021 | — | — |
| 19 | Ess Ess Steel Casting & Rolling Mills Manufacturer of steel round bars, hex bars, and rectangular bars | — | $15M FY2025 | +13% | — | 1993 | Gaurav Goyal Owner | — |
| 20 | Leader Valves Manufacturer of a wide range of valves | — | $14M FY2025 | +3% | 375 | 1980 | Jogesh Saini CEO | — |
| 21 | International Switchgears Manufacturer of LT Control Panels and HT Panels, offering power distribution solutions | — | $9M FY2025 | -14% | — | 1999 | P Sangha CEO & Managing Director | — |
| 22 | Lakshay International Manufacturer of leather tool belts & accessories | — | $9M FY2025 | +31% | — | 1989 | — | — |
| 23 | ESGI Tools Tool manufacturing company specializing in precision gear cutting tools | — | $9M FY2025 | +2% | — | 1989 | Sushil Gupta Managing Director | — |
| 24 | A.S. Precision Machines Rolling mill manufacturer | — | $9M FY2023 | +14% | — | 1995 | Ajit Singh Owner & CEO | — |
| 25 | Atam Valves Designs and manufactures industrial valves, fittings, and boiler mountings | — | $7M FY2025 | +15% | 4 | 1982 | — | — |
| 26 | Mansarovar Forgings Manufacturer and exporter of hand tools including spanners, wrenches, pliers, pincers, and more | — | $7M FY2025 | -6% | — | 2000 | Brijesh Verma CEO | — |
| 27 | Canvas Clothing Contract manufacturer of men's cotton t-shirts | — | $7M FY2020 | -3% | 2 | 2013 | Akshay Singhal CEO | — |
| 28 | Didar Steel Complex Manufacturer of steel rolls for domestic and international markets | — | $6M FY2025 | -11% | — | 1988 | Kunal Goel Proprietor | — |
| 29 | Ishmeet Forgings Steel drop forged company specializing in gear components | — | $6M FY2025 | — | — | 2002 | Prabhjot Singh Owner | — |
| 30 | MenRocks Contract manufacturer of apparel | — | $5M FY2025 | -43% | 21 | 2016 | Mansimran Singh Co-Owner | — |
| 31 | Marshall Machines Pvt. Ltd. Marshall Machines designs and manufactures CNC machines, including patented double-spindle CNC turning… | — | $5M FY2023 | -39% | 175 | 2005 | — | — |
| 32 | ATUL GLOBAL Manufacturer of customized and tailored Indian clothing for global brands | — | $3M FY2025 | +33% | — | 1998 | Jaswant Gupta Managing Director & Director | — |
| 33 | Bmmeters Forged Pipe Fittings Manufacturer | Water Meter Exporter India | — | $2M FY2025 | +3% | — | 2005 | Kushal Sharma Owner & CEO | — |
| 34 | Khosla Machines Manufacturer of flow wrapping machines | — | $1M FY2025 | +1% | 65 65 → 78 (+20%) | 1983 | Darshan Kumar CEO | — |
| 35 | Avinash Fire Manufacturer and supplier of fire fighting equipment, including fire extinguishers and fire sprinkler systems | — | $323K FY2025 | -34% | — | 2008 | — | — |
Top 3 Industrial Goods and Manufacturing companies in Punjab
#1
Early Stage · Sahibzada Ajit Singh Nagar, Punjab · founded 1992 · 389 employees$8.6Mraised▾
Early Stage · Sahibzada Ajit Singh Nagar, Punjab · founded 1992 · 389 employees
Manufacturer of process equipment and turnkey solutions for various industries. The company provides evaporators, heat exchangers, and mass transfer equipment. It offers project engineering, industrial automation, and equipment manufacturing. The company delivers solutions for sugar, water, pharmaceutical, and chemical applications. It provides after-sales services and technical support.
Funding rounds
- May 2024Unattributed$8.6M
Founders & team
Investors
FidelisWorld, Minerva Ventures, Vistra, Renesis, Prabhat Financial Services, New Vernon Investment Management
Tech stack
AosBootstrapElfsightFont AwesomeGoogle AnalyticsGoogle Maps
#2
Seed · Sahibzada Ajit Singh Nagar, Punjab · founded 2015$61.6Kraised▾
Seed · Sahibzada Ajit Singh Nagar, Punjab · founded 2015
Unitary provides an analytics platform for industries to track the equipment condition and manage operational efficiency. Offers equipment performance management through sensors, predictive maintenance and workflow management. Features include integrated dashboard for managing operations, real time data collection, report generation and historical records of the equipment on the failures and action taken over the time.
Funding rounds
- Jul 2017Angel$61.6K
- May 2017Angel—
Founders & team
Investors
Ullas Kamath, Sid Pai
#3
Public · Ludhiana, Punjab · founded 1965 · 24339 employees—raised▾
Public · Ludhiana, Punjab · founded 1965 · 24339 employees
Vardhman group of companies is an integrated textile producer. Its product offerings include yarns, fabrics, sewing threads, fiber, and alloy steel, spinning & general mills. Spanning over 22 manufacturing facilities in five states.
LinkedIn Pulse recent public activity · Jul 2026
Audience: 157k LinkedIn followers — 86.8% of this cohort's audience
Activity: 1 awards announced in 12 mo
Founders & team
Investors
Baring Private Equity Partners, HDFC Mutual Fund
Tech stack
Animate.CssAosApache Http ServerBootstrapCdnjsCloudflare
Funding & investor landscape
$8.7Mtotal disclosed funding
2companies funded
2disclosed rounds
0rounds last 90 days
Most active investors
Klondike Investments1 rounds
Notable founders
Vivek Verma
Founder & Managing Director · Spray Engineering
Lalit Handa
Director of Operations · Spray Engineering
Bhagawat Rawat
Co-Founder · Unitary
Sai Raju Penmetcha
Co-Founder · Unitary
Nitesh Oswal
Owner · Vardhman
Paul Oswal
CEO · Vardhman
Prism market signals · India · country-scoped Prism corpus, 1,107,219 docs
Market landscape — 10 sub-themes by coverage
Share of Industrial Goods and Manufacturing coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
RESEARCH IN PUNJAB · Materials
How research on Additive Manufacturing in Punjab is moving
A read on the academic research around Additive Manufacturing in Punjab — which themes are gaining ground, the institutions and researchers driving them, and how the tone is shifting. Based on 60 papers.
Punjab Technical University and peers lead optimistically (stance 0.38) in process optimization and biomedical 3D printing, with advancements dominating and research doubling post-2020.
60 papers · stance +0.38 · 4% breakthrough · 14% concern
top institutions
- Punjab Technical University20
- Maharaja Ranjit Singh Punjab Technical University11
- Punjab Engineering College9
- Punjabi University9
- University of the Punjab6
leading researchers
Rupinder Singh · Jasgurpreet Singh Chohan · Kamaljit Singh Boparai · Shubham Sharma · Inderpreet Singh Ahuja · Raman Kumar
prism intelligence · tone & topics
97% positive · 0% critical tone
HealthcareHealthConstructionDIY ProjectsBusinessEducation
▲
Breakthroughs2 · 3%
▼ 14%→3% share
▼0.2× share momentum14 median citations50% since 2021mostly methods-led
Breakthrough research is cooling — field-share dropped from 14% to 3%, with minimal activity across FDM and ABS topics.
rising sub-themes (early→recent)
- 3D printing1
- Fused deposition modeling1
- Acrylonitrile butadiene styrene1
- 3d printed1
- Scanner1
Landmark A Novel Approach For Ankle Foot Orthosis Developed By Three Dimensional Technologies · 22 cites
◆
Advancements40 · 67%
▲ 43%→60% share
▲1.4× share momentum8 median citations45% since 2021mostly empirical
Advancement research is intensifying — field-share rose 43% to 60%, with 3D printing newly contributing 10 papers and FDM tripling.
rising sub-themes (early→recent)
- Fused deposition modeling1→3
Newly emerging3D printing 0→10
Landmark Development of rapid tooling using fused deposition modeling: a review · 218 cites
▼
Concerns7 · 12%
▼ 29%→17% share
▼0.6× share momentum15 median citations71% since 2021mostly reviews
Concern research is shrinking — field-share fell 29% to 17%, despite 3D printing adding 4 new concern-flagged papers around smoothing defects.
rising sub-themes (early→recent)
- 3D printing4
- 3d printed2
- Smoothing2
- Acrylonitrile butadiene styrene2
- Fused deposition modeling2
Newly emerging3D printing 0→4
Landmark Pre and post processing techniques to improve surface characteristics of FDM parts: a state of art review and future app · 201 cites
Common questions
How many Industrial Goods and Manufacturing companies are there in Punjab, India?
Radar tracks 94 indexable Industrial Goods and Manufacturing companies headquartered in Punjab, India, India, that meet our profile-completeness bar.
What is the total funding raised by Industrial Goods and Manufacturing companies in Punjab, India?
The Industrial Goods and Manufacturing companies in Punjab, India on this list have raised a combined $8.7M in disclosed equity funding across 2 funded companies.
Which is the highest-funded Industrial Goods and Manufacturing company in Punjab, India?
Spray Engineering is the highest-funded Industrial Goods and Manufacturing company in Punjab, India, with $8.6M in disclosed equity funding.
How many Industrial Goods and Manufacturing companies in Punjab, India are funded?
2 of the 94 Industrial Goods and Manufacturing companies in Punjab, India on this list have disclosed at least one equity funding round.
How many Industrial Goods and Manufacturing unicorns are there in Punjab, India?
None of the Industrial Goods and Manufacturing companies in Punjab, India on this list currently has a disclosed valuation of $1B or more.
Who are the top investors in Punjab, India Industrial Goods and Manufacturing companies?
The most active investors in Punjab, India Industrial Goods and Manufacturing companies on this list include Amrex Ventures, Baring Private Equity Partners, FidelisWorld, HDFC Mutual Fund, Klondike Investments.
Riya SenguptaFinancials
Riya reads income statements for fun. She covers the real money in a sector — revenue, growth, who actually earns — and never met a vague claim she didn't want a number for.