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The India edition · 2026

Manufacturing servicescompanies in India

Electronics, contract manufacturing, automation, engineering services, metals & auto parts and more: the companies building manufacturing services in India, with their founders, funding, team size and business models.

Explore in Radar See the ranked list ↓
4,126 company profiles2,831 with reported revenue34 with recorded fundingSeptember 2026 edition
India · Photo: Wikimedia Commons (CC BY-SA 4.0)

Recent manufacturing services business events in India

Funding, M&A, contract wins and launches involving 4,434 manufacturing services companies in India, last 24 months: 203 Contracts · 88 M&A deals · 20 launches · 18 funding rounds. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Jun 2026.

M&AAcquisition · Announced

Akkodis acquires Axiscades

Cyril Amarchand Mangaldas acted as lead global legal counsel to AXISCADES Technologies Limited (“ATL”) in connection with the transfer of its business comprising the provision of…

Engineering Services
M&AAcquisition · Announced

Akkodis India Private Limited, Akkodis UK Limited, and Akkodis Inc. acquires Axiscades

Cyril Amarchand Mangaldas acted as lead global legal counsel to AXISCADES Technologies Limited (“ATL”) in connection with the transfer of its business comprising the provision of…

Engineering Services
ContractSupply

Master components · client: Na

Master Components Limited (MASE.NS) has officially secured a new domestic supply order valued at 4.7 million Indian rupees.

Industrial Manufacturing
M&AAcquisition · Announced

Cyient acquires TAO Digital Solutions

Cyient's, $218 million acquisition of TAO Digital is more than a traditional technology services deal.

AI-native data and product engineering
M&AAcquisition · Completed

Cyient acquires Tao Digital

While engineering service provider Cyient bought Tao Digital for $218 million last week

Engineering service provider
ContractSupply

Texmaco rail & engineering · client: Vedanta aluminium

India's Vedanta Aluminium Metal Limited has awarded Texmaco Rail & Engineering a Rs286m contract to supply a rake of bogie wagons for the transport of alumina, along with a brake van.

Rail
M&AAcquisition · Announced

Akkodis acquires Axiscades

The transaction involves Akkodis acquiring 100% of AXISCADES' Engineering Services practice, with the consideration pegged at approximately US$30.63 million.

Engineering Services
M&AMerger · Announced

Jsw steel acquires Bmm Ispat

JSW Steel on Thursday said its board has approved raising up to ₹14,000 crore through a mix of non-convertible debentures, warrants and equity-linked instruments, while also clearing the…

Steel
M&AAcquisition · Completed

Krishna defence & allied industries acquires Taharabadkar Solutions Pvt Ltd

KDAIL has completed the acquisition of a 46.81% stake in Taharabadkar Solutions Pvt Ltd (TSPL), a defence-focused startup incorporated on 11th March 2025. The acquisition was completed…

Defence – Smart Weapons & Guided Ammunition Systems
M&AAcquisition · Completed

Donaldson company acquires Facet filtration

Donaldson Company has completed its previously announced acquisition of Facet Filtration strengthening its position in technology-led filtration products and solutions.

Filtration
ContractInfrastructure

Praxair india · client: Deepak Chem Tech Limited

Deepak Chem Tech Limited (DCTL) ... entered into a long‑term agreement with Praxair India ... to establish a hydrogen and carbon monoxide (HyCO) plant.

Chemical
FundingPreferential issue of convertible warrants

Steel exchange india

Steel Exchange India Limited has received an aggregate amount of ₹75 Crore from M/s India Coke and Power Private Limited and M/s IMR Steel Private Limited towards subscription of…

Investors M/s India Coke and Power Private Limited, M/s IMR Steel Private Limited
Steel manufacturing
ContractSupply

Pritika auto industries · client: US-based conglomerate

Chandigarh-based Pritika Auto Industries, the flagship company of the Pritika Group of industries, today announced that it has bagged its first export order for machined castings. The…

Machined castings
ContractTechnology

Tata technologies · client: global EV battery manufacturer

Engineering services major Tata Technologies has secured a major contract to design and develop batteries for a global EV battery manufacturer, the company reported today along with its…

Automotive
ContractService

Tata technologies · client: Vinfast

We've almost completed the development of the two electric vehicles that were outsourced to Tata Technologies on a turnkey basis, and our activities are now transitioning to launch support.

Automotive
ContractSupply

Texmaco rail & engineering · client: Ultratech cement

Texmaco Rail & Engineering has secured a significant order valued at ₹27.18 crores from Ultratech Cement Limited. The order involves the supply of one rake of BCFC M1 wagons along with…

Railway
LaunchALAISA (Aluminium AI Support Agent)

Vedanta aluminium

Vedanta Aluminium has introduced a first‑of‑its‑kind AI‑powered humanoid assistant, ALAISA (Aluminium AI Support Agent), at Bharat Aluminium Company Limited, marking a significant step…

ContractInfrastructure

Cingle Steel & Power Pvt. Ltd. · client: Vedanta aluminium

Vedanta Aluminium signed a Memorandum of Understanding (MoU) with two companies on Friday to establish its manufacturing units in the Vedanta Aluminium Park proposed in Jharsuguada, Odisha.

Aluminium
ContractInfrastructure

SCOT-AL Metcon Private Limited · client: Vedanta aluminium

Vedanta Aluminium signed a Memorandum of Understanding (MoU) with two companies on Friday to establish its manufacturing units in the Vedanta Aluminium Park proposed in Jharsuguada, Odisha.

Aluminium
Contract

Singhal Steel & Power Pvt. Ltd · client: Vedanta aluminium

Vedanta Aluminium, India’s largest aluminium producer, has taken a significant step towards building a robust downstream ecosystem by signing a Memorandum of Understanding (MoU) with two…

Industrial downstream manufacturing
ContractSupply

Agrawal Infracab · client: Vibhor steel tubes

Vibhor Steel Tubes Limited (VSTL) has secured a new order worth ₹16.87 crore for the supply of fabricated and galvanised steel towers from Agrawal Infracab, a manufacturer of cables and…

Infrastructure
M&AAcquisition · Announced

TVS Holdings acquires Home Credit India Finance

TVS Holdings has subscribed to and has been allotted an additional 229,139,017 equity shares of Rs 10/- each in Home Credit India Finance, the company said in a stock exchange filing.…

ContractInfrastructure

JNK India · client: JNK Global Co., Ltd.

Wins Major Contract JNK India confirmed it has secured a “major” category order from its promoter entity, JNK Global, for a refinery project in India.

Energy
M&AAcquisition · Announced

AMI Paradigm Solutions Private Limited acquires L&t technology services

AMI Paradigm Solutions Private Limited (AMIPS), promoted by the AM Group and ParadigmIT Services Technology Private Limited, on Thursday announced the signing of a binding agreement to…

Engineering Services
ContractSupply

Vibhor steel tubes · client: Agrawal Infracab

Mumbai : Haryana-based high-quality steel tubes and pipes maker, Vibhor Steel Tubes Ltd (VSTL), has received Rs 16.87 crore order for supply of fabricated and galvanised towers from…

M&AAcquisition · Announced

Kratos Defense & Security Solutions acquires Orbit technologies

Kratos is in the process of buying Israeli satellite mobile systems company Orbit Technologies for $356.3 million, with the deal expected to close at the end of March.

LaunchATOOT Fe 550D TMT bars

Jai raj ispat

Jai Raj Ispat Limited has introduced a new grade of thermomechanically treated bars with the launch of ATOOT Fe 550D TMT bars, aimed at meeting structural requirements in infrastructure…

TMT bar
M&AAcquisition · Completed

Spectrum electrical industries acquires Alric Electric Private Limited

Spectrum Electrical Industries Limited has successfully completed its acquisition of Alric Electric Private Limited, marking a significant milestone in the company's expansion strategy.

Electrical
ContractSupply

Best power equipments · client: Na

Best Power Equipments (India) Pvt Ltd (BPE), India’s leading provider of technologically advanced power solutions, data centre solutions and Battery Energy Storage Systems (BESS), has…

M&ATakeover · Announced

Aspect Global Ventures Private Limited acquires Iykot hitech toolroom

Iykot Hitech Toolroom Limited faces a mandatory open offer from Aspect Global Ventures Private Limited, as the acquirer seeks to purchase up to 26,98,298 equity shares at ₹8.50 per share…

Injection molding services

Manufacturing services companies in India, by revenue

Browse manufacturing services companies in India by reported revenue, one-year revenue growth, revenue model, age and stage. The 50 companies below are the largest by their most recent reported revenue among 2,831 manufacturing services companies in India that have filed a figure in the last four years. Every figure keeps its own reporting period, so compare periods before comparing amounts.

Showing 25 of 50

Provider of software & AI development, cloud, cyber security, and engineering consulting services

Manufacturing services
₹10,880.10 crFY 2024-25
+10%2024–2025
41,463-6% 12 mo to Nov 2023LinkedIn · Jul 2026
14 yr2012
1postings · last posted Jul 2026

Manufacturer and supplier of stainless steel products

Manufacturing services
₹8,550.49 crFY 2024-25
-1%2024–2025
2,749+124900% vs previous recordLinkedIn · Jul 2026
34 yr1992
0none in 3 months

Provider of intelligent engineering solutions for digital, autonomous, and sustainable industries

Manufacturing services
₹7,457.00 crFY 2024-25
+3%2024–2025
20,574+5% 12 mo to Nov 2023LinkedIn · Jul 2026
35 yr1991
66postings · last posted Sep 2026

Manufacturer of pig iron and iron castings for diverse industries

Manufacturing services
₹6,616.81 crFY 2024-25
+7%2024–2025
1,100recorded
7 yr2019
0none in 3 months

Manufacturer of steel, ferroalloys, and power products

Manufacturing services
₹5,471.71 crFY 2024-25
-1%2024–2025
1,001recorded
27 yr1999
0none in 3 months

Provider of design, product development, and engineering services

Engineering consulting
₹5,292.58 crFY 2024-25
+1%2024–2025
10,188-7% 12 mo to Mar 2024recorded Mar 2024
37 yr1989
89postings · last posted Sep 2026

Manufacturer of wire rods, coils, angles, and other products

Manufacturing services
₹5,222.68 crFY 2024-25
+0%2024–2025
268LinkedIn · Jul 2026
32 yr1994
0none in 3 months

Leading gold refinery

Manufacturing services
₹4,986.80 crFY 2023-24
Not reported
92-2% 12 mo to Aug 2024recorded Aug 2024
14 yr2012
1postings · last posted Jul 2026

Manufacturer of air and liquid-cooled diesel engines & generator sets

Manufacturing services
₹4,048.71 crFY 2021-22
Not reported
4,222recorded
138 yr1888
—No postings tracked

Manufacturer of high-quality TMT bars

Manufacturing services
₹4,162.96 crFY 2022-23
Not reported
697+12% 12 mo to Sep 2024LinkedIn · Jul 2026
73 yr1953
—No postings tracked

Provider of customized drilling fluid systems and services

Manufacturing services
₹4,290.08 crFY 2024-25
+17%2024–2025
65LinkedIn · Jul 2026
28 yr1998
0none in 3 months

Manufacturer of polyester staple fiber, yarn, and chips

Manufacturing services
₹4,287.96 crFY 2024-25
+11%2024–2025
332LinkedIn · Jul 2026
37 yr1989
0none in 3 months

Diversified conglomerates operates across multiple industries

Manufacturing services
₹3,955.03 crFY 2023-24
Not reported
434LinkedIn · Jul 2026
54 yr1972
0none in 3 months

Manufacturer of winding wires

Manufacturing services
₹4,035.62 crFY 2024-25
+22%2024–2025
1,750recorded
37 yr1989
0none in 3 months

Manufacturer of calcined petroleum coke

Manufacturing services
₹3,658.20 crFY 2022-23
Not reported
287+20% 12 mo to Sep 2024recorded Sep 2024
17 yr2009
—No postings tracked

Manufacturer and supplier of refractory and monolithic products for the iron and steel industry

Manufacturing services
₹3,700.57 crFY 2024-25
-2%2024–2025
93+11% 12 mo to Sep 2024recorded Sep 2024
16 yr2010
0none in 3 months

Manufacturer of railway freights cars, hydro-mechanical equipments, and steel structures

Manufacturing services
₹3,572.42 crFY 2023-24
Not reported
414-34% 12 mo to Oct 2023LinkedIn · Jul 2026
87 yr1939
—No postings tracked

Provider of steel processing and services for clients in the iron and steel industry

Manufacturing services
₹3,647.63 crFY 2024-25
+0%2024–2025
1,750recorded
38 yr1988
0none in 3 months

Official Website of Bridge and Roof Company (India) Limited | Bridge And Roof Co. (India) Ltd.

Manufacturing services
₹3,195.17 crFY 2021-22
Not reported
1,994+30% 12 mo to Sep 2019LinkedIn · Jul 2026
106 yr1920
—No postings tracked

Provider of engineering consulting, supply chain, and EPC services

Engineering consulting
₹3,500.02 crFY 2023-24
Not reported
4,778-52% 12 mo to Sep 2024LinkedIn · Jul 2026
61 yr1965
0none in 3 months

Manufacturer of steel products

Manufacturing services
₹3,496.20 crFY 2023-24
+57%2023–2024
35+1530% vs previous recordLinkedIn · Jul 2026
26 yr2000
0none in 3 months

Manufacturer of steel and alloy products

Manufacturing services
₹3,552.10 crFY 2024-25
Not reported
1,112+9% 12 mo to Oct 2023recorded Oct 2023
37 yr1989
0none in 3 months

Supplier of metal injection molded products

Manufacturing services
₹3,373.97 crFY 2024-25
+16%2024–2025
1,444+3422% vs previous recordrecorded
30 yr1996
0none in 3 months

Manufacturer of cotton yarn

Manufacturing services
₹3,309.25 crFY 2024-25
+14%2024–2025
527LinkedIn · Jul 2026
34 yr1992
0none in 3 months

Jindal Stainless Steelway Limited

Manufacturing services
₹3,265.64 crFY 2024-25
+7%2024–2025
261LinkedIn · Jul 2026
22 yr2004
0none in 3 months
50 of 4,126 companies shown here · the full list is on Radar
Fliar Radar

Explore all 4,126 manufacturing services companies in India on Radar

This page shows the top 50. Radar has the complete, filterable list with contacts and live company signals.

Open manufacturing services in India on Radar
  • Every company, not just 50All 4,126 manufacturing services companies in India, filterable by stage, funding, team size, revenue model and age.
  • Founders and decision-makersLeadership teams with roles and verified LinkedIn profiles, ready for outreach.
  • Live signalsFunding rounds, hiring, launches and M&A as they happen, with alerts on the companies you follow.
  • Save and exportBuild lists, compare companies side by side and export them from your Radar account.

Explore manufacturing services companies in India by what you are looking for

Browse electronic manufacturing services companies in India, contract manufacturing services providers and industrial automation firms. Find manufacturing services startups in India, engineering consultants and the top manufacturing services companies hiring now.

9 ways to explore manufacturing services in India

Electronic manufacturing services (EMS) companiesContract manufacturers & production servicesIndustrial automation, robotics & IoT companiesEngineering & product design services companiesMetals, alloys & auto component manufacturersWaste, water & energy equipment manufacturers

Electronic manufacturing services (EMS) companies

Electronics contract manufacturers, PCB makers and electronic component suppliers.

  1. INDIC

    Provider of supply chain,PCB designing, mechanical assembling, system integration, and engineering services

    Manufacturing services
    Website
  2. Tissconn Technocrafts

    Manufacturer of PCBs and electronic assemblies

    Printed circuit boards
    Website
  3. Sanjay Technologies

    Provider of PCB designing & assembling, box building, and electronics manufacturing services

    Printed circuit boards
    Website
  4. DMA WORLD

    Manufacturer of electronics, electrical, and mechanical components

    Electronic components
    Website
  5. Kul Systems

    Manufacturer of digital display systems, PCB assembly, and plastic injection molding

    Electronic manufacturing services
    Website
52 companies in IndiaAll 226 electronic manufacturing services companies in India →

Contract manufacturers & production services

Companies that manufacture, fabricate and produce goods on behalf of other brands.

  1. Automotive Stampings and Assemblies

    Manufacturer of sheet metal components and welded assemblies for automobiles

    Manufacturing services
    Website
  2. Amtek Industries

    Manufactures forged, cast, and machined auto components

    Manufacturing services
    Website
  3. Chamundi Die Cast

    Manufacturer of high quality, machined aluminium casting

    Auto components
    Website
  4. Macwell Auto Engineering

    Company that specializes in manufacturing rollers

    Auto components
    Website
  5. Kalyani Stampings

    Manufacturer and supplier of automotive press parts, offering sheet metal pressed, fabricated, and machined solutions to the industry

    Manufacturing services
    Website
79 companies in IndiaAll 745 contract manufacturers companies in India →

Industrial automation, robotics & IoT companies

Providers of industrial automation equipment, robotics services and IoT-based factory solutions.

  1. TEAL

    Provider of automation and precision manufacturing solutions for multiple industries

    Engineering consulting
    Website
  2. DiFACTO

    Provider of robotic automation solutions, customized solutions, standard products, and automation services

    Manufacturing services
    Website
  3. ARAPL

    Provider of various automation solutions

    Robotics services
    Website
  4. Lakshmi Life Sciences

    Provider of automation, plastics, and tooling solutions for diverse industries

    Manufacturing services
    Website
  5. PARC Robotics

    Provider of end-to-end solutions in robotics and automation, handheld manual systems, and special purpose machines

    Robotics services
    Website
111 companies in IndiaAll 675 industrial automation equipment companies in India →

Engineering & product design services companies

Engineering consulting, product design, testing and construction management firms serving manufacturers.

  1. L&T Technology Services

    Provider of software & AI development, cloud, cyber security, and engineering consulting services

    Manufacturing services
    See in list
  2. Cyient

    Provider of intelligent engineering solutions for digital, autonomous, and sustainable industries

    Manufacturing services
    See in list
  3. Tata Technologies

    Provider of design, product development, and engineering services

    Engineering consulting
    See in list
  4. Engineers India

    Provider of engineering consulting, supply chain, and EPC services

    Engineering consulting
    See in list
  5. AXISCADES

    Provider of product engineering, embedded, manufacturing intelligence and digitization services

    Manufacturing services
    Website
95 companies in IndiaAll 279 engineering consulting companies in India →

Metals, alloys & auto component manufacturers

Steel, alloy and casting makers along with automotive and aircraft component suppliers.

  1. Nandan Steels

    NANDAN STEELS POWER LIMITED|NSPL|HI-TECH POWER & STEEL LIMITED|HSPL

    Manufacturing services
    Website
  2. Sound Castings

    Manufacturer of casting components for automobiles

    Manufacturing services
    Website
  3. Shriniwas Engineering Auto Components

    Manufactures casted and machined components for automobiles

    Manufacturing services
    Website
  4. KL Steels

    Manufacturer of carbon, alloy, stainless & duplex steel

    Metals and alloys
    Website
  5. Chamundi Die Cast

    Manufacturer of high quality, machined aluminium casting

    Auto components
    Website
101 companies in IndiaAll 555 metals and alloys companies in India →

Waste, water & energy equipment manufacturers

Manufacturers of water treatment, energy storage, solar and power distribution equipment.

  1. Karamtara

    Integrated manufacturer of products for renewable energy and transmission lines sectors

    Electricity transmission & distribution equipment
    See in list
  2. Manika Plastech

    Manufacturer of automotive batteries

    Energy storage
    Website
  3. BEST POWER EQUIPMENTS

    Provider of power management solutions

    Energy storage
    Website
  4. Universe Alloys

    Supplier of stainless steel billets and scrap

    Manufacturing services
    Website
  5. Chem Process System

    Provider of waste water management and manufacturing services

    Manufacturing services
    Website
77 companies in IndiaAll 240 energy storage companies in India →

Manufacturing services startups in India

Recently founded manufacturing services companies in India.

  1. Ankur Udyog

    Provider of polyester spun manufacturing solutions

    Manufacturing services
    Website
  2. Svgfashions

    Vertically integrated manufacturer of polyester knit textiles and garments

    Manufacturing services
    Website
  3. Mangalam Tubicore

    Manufacturer of stainless steel welded pipes & tubes

    Manufacturing services
    Website
  4. Faridabad Steel

    Wholesale trader of steel sheets, coils, and plates, offering coil cutting services

    Manufacturing services
    Website
  5. BCSSL

    Steel processor providing slitting, cut-to-length, embossing, and shearing services

    Manufacturing services
    Website
363 companies in India

Manufacturing services companies hiring in India

Manufacturing services companies with open roles right now.

  1. L&T Technology Services

    Provider of software & AI development, cloud, cyber security, and engineering consulting services

    Manufacturing services
    See in list
  2. Cyient

    Provider of intelligent engineering solutions for digital, autonomous, and sustainable industries

    Manufacturing services
    See in list
  3. Tata Technologies

    Provider of design, product development, and engineering services

    Engineering consulting
    See in list
  4. Sovereign Metals

    Leading gold refinery

    Manufacturing services
    See in list
  5. SFO Technologies

    Provider of ODM Plus solutions

    Manufacturing services
    See in list
37 companies in India

Listed manufacturing services companies in India

Publicly listed manufacturing services companies in India.

  1. L&T Technology Services

    Provider of software & AI development, cloud, cyber security, and engineering consulting services

    Manufacturing services
    See in list
  2. Cyient

    Provider of intelligent engineering solutions for digital, autonomous, and sustainable industries

    Manufacturing services
    See in list
  3. Kirloskar

    Manufacturer of pig iron and iron castings for diverse industries

    Manufacturing services
    See in list
  4. Godawari Power & Ispat

    Manufacturer of steel, ferroalloys, and power products

    Manufacturing services
    See in list
  5. Tata Technologies

    Provider of design, product development, and engineering services

    Engineering consulting
    See in list
227 companies in India
Mobile reach

Top 10 manufacturing services apps from India

The most-installed Android apps published by manufacturing services companies headquartered in India — 2.6M installs between them. 99 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
3

Hoffmann Machining Calculator

by Hoffmann

Installs117K
Rating—
Last updatedFeb 2026
Legal entityHOFFMANN QUALITY TOOLS INDIA PRIVATE LIMITEDCIN U51101PN2015FTC156580filed accounts
View on Google Play ↗
Hoffmann Machining Calculator screenshot 1Hoffmann Machining Calculator screenshot 2Hoffmann Machining Calculator screenshot 3Hoffmann Machining Calculator screenshot 4Hoffmann Machining Calculator screenshot 5
6

Kapci Decor

by KAPCI

Installs45K
Rating—
Last updatedFeb 2024
Legal entityKAPCI COATINGS INDIA PRIVATE LIMITEDCIN U51109KA2009FTC122790
View on Google Play ↗
Kapci Decor screenshot 1Kapci Decor screenshot 2Kapci Decor screenshot 3Kapci Decor screenshot 4Kapci Decor screenshot 5Kapci Decor screenshot 6
9

My Fybros

by Fybros

Installs22K
Rating—
Last updatedApr 2026
Legal entityBALAR MARKETING PVT LTDCIN U36102DL1992PTC050686filed accounts
View on Google Play ↗
My Fybros screenshot 1My Fybros screenshot 2My Fybros screenshot 3My Fybros screenshot 4My Fybros screenshot 5My Fybros screenshot 6
The business behind the activity

Manufacturing services financials in India

Revenue, profit and growth from the filed annual accounts of 2657 manufacturing services companies in India for FY24-25 — 2,924 of the 4,126 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 8% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹446,756.47 cr

2657 companies filing accounts

combined net profit₹25,133.30 cr

5.6% aggregate margin

are profitable90%

2400 of 2657 companies

median revenue~₹45.2 cr

the typical company

median revenue growth+12%

into FY24-25

earned by the top five8%

revenue concentration

Six-year view

Combined revenue of filing companies

₹227,326.60 crFY19-202383 filers
₹228,290.64 crFY20-212489 filers
₹329,398.41 crFY21-222583 filers
₹413,299.69 crFY22-232660 filers
₹438,869.37 crFY23-242739 filers
₹446,756.47 crFY24-252657 filers

The number of companies filing changes each year; the three-year cohort below compares like with like.

Like-for-like

The same 2454 companies over three years

+16%
FY22-23₹372,799.83 cr₹12,922.22 cr net
FY23-24₹396,967.45 cr₹21,110.21 cr net
FY24-25₹433,872.98 cr₹24,545.75 cr net

Companies with accounts for all three years, so growth is not an artefact of who filed.

Scale and profit

Bigger companies are far more often profitable

Under ₹1 cr16152% profitable
₹1–10 cr48586% profitable
₹10–100 cr115594% profitable
₹100–1,000 cr78395% profitable
Over ₹1,000 cr7399% profitable

Companies by FY24-25 revenue. Bars show how many companies sit in each band.

Momentum

How fast revenue moved into FY24-25

Shrinking656
0–20%977
20–50%551
50–100%207
Doubled+193

2584 companies with accounts for both years; median growth +12%.

Profitability

Profit is concentrated at the top

2400profitable
256loss-making
5.6%aggregate margin
2.9%median margin

The aggregate margin is pulled up by a few large filers; the median shows the typical company.

Growth leaders · ₹10 cr+ revenue

Fastest growing, FY24-25

CompanyGrowthRevenue
Tushi EngineeringTUSHI ENGINEERING PRIVATE LIMITED
Q2Q SolutionsQ2Q SOLUTIONS PRIVATE LIMITED+724%₹20.45 cr
Ashvath Rubber TechASHVATH RUBBER TECH PRIVATE LIMITED
Swadeshi Industries and LeasingSwadeshi Industries And Leasing Ltd+542%₹16.76 cr
Viera SeamlessVIERA SEAMLESS PRIVATE LIMITED₹59.79 cr
RcrispsolutionsRCRISP SOLUTIONS INDIA PRIVATE LIMITED+430%₹24.82 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
Miltech IndustriesMILTECH INDUSTRIES PRIVATE LIMITED62.2%₹11.09 cr
Orbit ElectricalsORBIT ELECTRICALS PRIVATE LIMITED61.5%₹109.10 cr
EsteamESTEAM APPAREL SERVICES PRIVATE LIMITED52.8%₹15.41 cr
HINDUSTHAN UDYOGHINDUSTHAN UDYOG LTD₹13.16 cr
L&T Special Steels and Heavy ForgingsL&T SPECIAL STEELS AND HEAVY FORGINGS PRIVATE LIMITED49.2%₹617.85 cr
CyientCYIENT LIMITED45.1%₹2,494.10 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Manufacturing services2502₹420,053.59 cr~₹46.5 cr91%5.4%
Engineering consulting9₹7,643.17 cr~₹25.2 cr89%18.4%
Textile yarn5₹2,828.19 cr~₹311.1 cr100%5.8%
Auto components12₹2,334.74 cr~₹154.6 cr92%12.6%
Building materials5₹467.99 cr~₹69.8 cr100%3.4%
Robotics services7₹401.09 cr~₹41.6 cr71%4.2%
Industrial automation equipment7₹212.04 cr~₹18.4 cr100%8.8%
Waste & water management7₹154.15 cr~₹5.8 cr86%4.5%
Leaders

Largest manufacturing services companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
L&T Technology ServicesL&T TECHNOLOGY SERVICES LIMITED₹9,744.30 cr₹1,220.90 cr12.5%+10%
VirajVIRAJ PROFILES PRIVATE LIMITED₹8,550.17 cr₹190.48 cr2.2%-1%
Kirloskar, Kirloskar Ferrous IndustriesKIRLOSKAR FERROUS INDUSTRIES LTD₹6,628.60 cr₹317.28 cr4.8%+8%
Ravindra HeraeusRAVINDRA HERAEUS PRIVATE LIMITED
Rimjhim IspatRIMJHIM ISPAT LIMITED₹5,222.68 cr₹147.96 cr2.8%-0%
Kirloskar Oil EnginesKirloskar Oil Engines Limited₹5,147.74 cr₹431.93 cr8.4%+6%
Godawari Power & IspatGODAWARI POWER AND ISPAT LIMITED₹4,762.90 cr₹769.64 cr16.2%-7%
BridgeroofBRIDGE & ROOF CO (INDIA) LTD₹4,532.03 cr₹102.37 cr2.3%+13%
Texmaco Rail & EngineeringTEXMACO RAIL & ENGINEERING LIMITED₹4,330.91 cr₹172.13 cr4.0%+21%
CigfilCigfil Ltd₹4,290.08 cr₹4.32 cr0.1%+17%
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Standalone annual accounts filed with the Ministry of Corporate Affairs. Brands that share one legal entity are shown together and counted once.

Industry landscape report

Accounting and Tax Software Industry Landscape of India

The financials above are one chapter. The full manufacturing services landscape of India maps the whole industry — every segment, the capital behind it, the talent market and where the next opportunities are.

  • Market map of every sub-sector
  • Funding & company formation by year
  • Revenue, profit & financial strength
  • Digital footprint: traffic, apps, releases
  • Hiring, skills & pay
  • Founders & leaders
  • News & sentiment
  • Where demand runs ahead of supply
Read the manufacturing services landscape of India
For investors and data teams

Put this intelligence into your own tools

The figures on this page come from Fliar’s company, funding and MCA filings data. Use it through the Investor Intelligence API and MCA financials feeds, or explore every company, filing and investor in Radar.

Capital & corporate activity

Manufacturing services funding and M&A across India

93 recorded equity rounds have gone to 4,434 manufacturing services companies in India — how much, at which stage, into which sub-sectors, from whom, and how India compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months6

US$175.19m

equity rounds, last 24 months13

US$416.77m

raised over five yearsUS$561.17m

41 rounds in India

M&A deals, India88

last 24 months

Capital by year

Equity funding into manufacturing services in India

amount rounds
$2.6m20185
$4.5m20193
$61k20203
$3.9m202112
$90m20226
$4.3m20234
$47m20247
$241m20256
$175m20266

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2025, with US$240.58m across 6 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$1.05m7 rounds · median US$92k
SeedUS$7.96m15 rounds · median US$580k
Series AUS$49.45m9 rounds · median US$4.81m
Series BUS$53.72m3 rounds · median US$26.86m
Series CUS$85.00m1 rounds · median US$85.00m
Series D+US$230.00m3 rounds · median US$115.00m
Private equityUS$133.99m3 rounds · median US$32.84m
Where the money went · five years

Most-funded sub-sectors

Manufacturing servicesUS$407.20m27 rounds · 18 companies
Electronic manufacturing servicesUS$130.08m2 rounds · 1 companies
CompositesUS$12.83m5 rounds · 1 companies
Aircraft parts and sub component manufacturersUS$10.11m2 rounds · 1 companies
Trust shopsUS$580k1 rounds · 1 companies
Manufacturing techUS$373k2 rounds · 1 companies
Scm softwareUS$0k1 rounds · 1 companies
Corporate activity · last 24 months

M&A in India

84Acquisition
2Merger
1Takeover

Most active acquirers

  1. Cyient7
  2. Hoffmann4
  3. Sellwin traders4
  4. Jindal3
  5. Tata technologies3

Most acquired or merged

  1. Axiscades3
  2. Gupta Power Infrastructure3
  3. A-1 sureja industries3
  4. Shaily engineering plastics3
  5. Altek electronics3

Each deal appears in the events strip at the top of the page.

Go deeper in the manufacturing services landscape reports:

Accounting and Tax Software Industry Landscape of India AdTech Industry Landscape of India Aerospace, Maritime and Defense Industry Landscape of India

Manufacturing services funding in India

34 manufacturing services companies in India have recorded equity funding, US$740.32m in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in India

Meet the people behind manufacturing services companies in India. 1,419 of 4,126 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore India manufacturing services companies by sub-sector

The most common specialisations among manufacturing services companies in India. Open a company to see what it sells, who runs it and how far it has come.

Keep exploring manufacturing services in India and nearby markets.

Coming soon