Company lists
The Maharashtra edition · 2026

Manufacturing servicescompanies in Maharashtra

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

1,196 company profiles653 with reported revenue7 with recorded fundingSeptember 2026 edition
Maharashtra · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent manufacturing services business events in Maharashtra

Funding, M&A, contract wins and launches involving 1,242 manufacturing services companies in Maharashtra, last 24 months: 45 Contracts · 20 M&A deals · 5 launches · 2 funding rounds. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Jun 2026.

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 · 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

Kirloskar pneumatic acquires Systems and Components (India)

Kirloskar Pneumatic Company (KPCL) has acquired balance 44.74% equity shares from the existing Promoter Shareholder of Systems and Components (India) (subsidiary company) on May 4, 2026…

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
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 · 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
ContractInfrastructure

NBCC (India) · client: Supertech

Earlier this month, another boost came for NBCC as the Supreme Court upheld the NCLAT order appointing NBCC to complete the 16 stalled housing projects of real estate developer Supertech.

Residential Housing
ContractTechnology

Elcogen · client: JNK India

European electrolyser firm Elcogen announced today it will collaborate with heating equipment supplier JNK India on solid oxide technology opportunities.

Solid oxide technology
ContractGovernment

Viraj profiles · client: Ministry of Steel

Viraj Profiles Pvt. Ltd. has signed a Memorandum of Understanding (MoU) with the Ministry of Steel under the Government of India’s Production Linked Incentive (PLI) framework, marking a…

Stainless steel manufacturing
ContractSupply

Mitsu chem plast · client: Arjohuntleigh Polska

Mitsu Chem Plast Limited (BSE: 540078), a leading Indian polymer solutions manufacturer, has entered into a Global Supplier Agreement with Arjohuntleigh Polska, following an extensive…

Healthcare
ContractSupply

Mitsu chem plast · client: Arjohuntleigh Polska Sp. z o.o.

Mitsu Chem Plast Limited has entered into a Global Supplier Agreement with Arjohuntleigh Polska Sp. z o.o., following a year-long validation Process and approvals.

Medical equipment
Contract

RHI AG · client: Orient refractories

Germany’s RHI AG, a leading refractory manufacturer, may acquire Delhi-based Orient Refractories in a transaction valued at about Rs 600 crore, two people close to the development said.

ContractSupply

Sany · client: Vale

SANY announces the delivery of the first batch of 136-ton hybrid water trucks to Vale, one of the world's largest iron ore producers.

Mining
M&AAcquisition · Completed

Sunita tools acquires Avisan Group

Mumbai-based engineering firm Sunita Tools has acquired a majority stake in the Avisan Group, comprising Avisan Global Tech Private and Avisan Engineering Enterprises.

M&AAcquisition · Announced

Sunita tools acquires Avisan Global Tech

Sunita Tools Limited announced that it has made a significant move to increase its defence footprint by acquiring a 51 percent stake in Avisan Global Tech and Avisan Engineering Enterprises.

Naval Defence
ContractSupply

Anlon Technology Solutions · client: Guwahati International Airport Limited

Anlon Technology Solutions Limited has received an order worth Rs. 3.68 crore (including GST) from Guwahati International Airport Limited to supply one compact battery-operated sweeping…

Airport equipment
ContractSupply

Sany · client: Zhongtian Hechuang Energy (ZHE)

Longi, Sany, and Huadian Group will supply stacks to Zhongtian Hechuang Energy (ZHE) for its Uxin Banner Integrated Wind-Solar-Hydrogen Production Project, which aims to produce up to…

ContractSupply

Bajaj steel industries limited · client: Na

Bajaj Steel Industries Limited has secured a domestic order worth approximately ₹9 crore for the design, supply, manufacturing, transportation, and erection of Pre-Engineered Building…

Infrastructure
M&AAcquisition · Completed

Authum investment & infrastructure acquires Bharat wire ropes

NBFC Authum Investment & Infrastructure has acquired additional 2.6 percent equity stake in Bharat Wire Ropes, the steel wire rope manufacturing company, via open market transaction on…

ContractSupply

Kirloskar ferrous industries · client: Oil and Natural Gas Corporation Limited

Kirloskar Ferrous Industries Ltd has received a work order from the ‘Oil and Natural Gas Corporation Limited’ (‘ONGC’) for the supply of regular EUE Tubing, Pup Joints and Cross-overs.…

Oil & Gas
ContractSupply

Aeroflex industries · client: subsidiary of U.S. based corporation

This order has been received by Aeroflex Bellow Division and pertains to the supply of liquid cooling solutions for data centers developed for the subsidiary of U.S. based corporation…

Data center cooling technology
M&AMerger

Water engineering acquires Apollo technologies

Water Engineering, Inc. was merged with Nolan Capital’s existing water treatment portfolio company, California-based Apollo Technologies.

Water treatment portfolio
ContractService

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

Heating equipment maker JNK India Limited on Monday said it has received an ultra-mega order from JNK Global Co., Ltd., Korea, for providing support services and supplies for the cracker…

Refinery equipment and furnace solutions
ContractSupply

Diffusion engineers · client: Na

Diffusion Engineers Ltd has received a domestic order worth about Rs. 22.86 crore for the supply of ID, PA and FD fan statics, along with rotary air preheater statics and rotor, to be…

Manufacturing
M&AAcquisition · Announced

Wika acquires Sini

"The acquisition of SINI as a subsidiary marks a strategic milestone for WIKA in Northern Europe," says Sascha Niederhagen, Executive Vice President EMEA India at WIKA.

M&AAcquisition · Announced

Millars Machinery Company Private Limited acquires Gmm pfaudler

Millars Machinery Company Private Limited, a part of the Promoter Group of GMM Pfaudler Ltd, has announced its intention to acquire 25,000 equity shares of GMM Pfaudler, representing…

LaunchEthanol and Isobutanol engine technology

Kirloskar oil engines

Kirloskar Oil Engines Limited (KOEL) introduced its groundbreaking Ethanol and Isobutanol engine technology, the first of its kind for Genset applications, tested by ARAI.

Genset applications
Funding

Core energy systems

CORE Energy Systems Ltd., a Mumbai-based engineering firm with over 25 years of experience in India’s nuclear sector, has successfully raised ₹200 crore in a fresh funding round.

Investors Ace investors, Pankaj Prasoon, Ashish Kacholia, Strategic consortium of investors
Nuclear energy/EPC and advanced manufacturing

Manufacturing services companies in Maharashtra, by revenue

Browse manufacturing services companies in Maharashtra 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 653 manufacturing services companies in Maharashtra 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

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

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

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 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 winding wires

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

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 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

Integrated manufacturer of products for renewable energy and transmission lines sectors

Electricity transmission & distribution equipment
₹3,165.36 crFY 2024-25
+30%2024–2025
1,107LinkedIn · Jul 2026
30 yr1996
0none in 3 months

Manufacturer of cleantech powertrain solutions, generator sets, and farm equipment products

Manufacturing services
₹2,697.95 crFY 2023-24
Not reported
2,397-6% 12 mo to Sep 2024LinkedIn · Jul 2026
167 yr1859
2postings · last posted Sep 2026

Manufacturer of precious metal products

Manufacturing services
₹2,477.67 crFY 2022-23
Not reported
473+10% 12 mo to Sep 2024LinkedIn · Jul 2026
65 yr1961
5postings · last posted Sep 2026

Manufacturer and transporter of Bitumen and LPG

Manufacturing services
₹2,409.47 crFY 2024-25
+13%2024–2025
6+27% 12 mo to Mar 2023LinkedIn · Jul 2026
31 yr1995
1postings · last posted Sep 2026

Stainless steel manufacturing company

Manufacturing services
₹2,212.46 crFY 2024-25
+48%2024–2025
62LinkedIn · Jul 2026
21 yr2005
0none in 3 months

Manufacturer of precision-machined and fabricated metal components

Manufacturing services
₹2,100.21 crFY 2024-25
Not reported
1,370LinkedIn · Jul 2026
35 yr1991
1postings · last posted Jul 2026

Manufacturer of air compressors, refrigeration systems, and process gas systems

Manufacturing services
₹1,650.74 crFY 2024-25
+23%2024–2025
1,001+31% vs previous recordrecorded
7 yr2019
0none in 3 months

Company that specializes in the production and transformation of aluminum alloys

Manufacturing services
₹1,616.82 crFY 2024-25
+30%2024–2025
23LinkedIn · Jul 2026
21 yr2005
0none in 3 months

Importer of tin and lead Ingot products

Manufacturing services
₹1,611.53 crFY 2024-25
+44%2024–2025
27LinkedIn · Jul 2026
22 yr2004
0none in 3 months

Manufacturer of CI and SGI machined castings and proprietary products for multiple industries

Manufacturing services
₹1,357.98 crFY 2022-23
Not reported
274+744% vs previous recordLinkedIn · Jul 2026
66 yr1960
—No postings tracked

Manufacturer and distributor of bakery ingredients and solutions

Manufacturing services
₹1,283.33 crFY 2024-25
Not reported
287-44% vs previous recordLinkedIn · Jul 2026
11 yr2015
0none in 3 months

Manufacturer of steel forgings

Manufacturing services
₹1,201.87 crFY 2022-23
Not reported
429+6% 12 mo to Sep 2024LinkedIn · Jul 2026
56 yr1970
—No postings tracked

Manufacturer of steel wire, wire ropes, and copper products

Manufacturing services
₹1,096.00 crFY 2024-25
+26%2024–2025
529-1% 12 mo to Jun 2024recorded Jun 2024
36 yr1990
0none in 3 months

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

Manufacturing services
₹1,058.65 crFY 2024-25
+38%2024–2025
17LinkedIn · Jul 2026
5 yr2021
0none in 3 months

Manufacturer of single/ 3 Phase transformers

Manufacturing services
₹951.21 crFY 2022-23
Not reported
434+10% 12 mo to May 2023LinkedIn · Jul 2026
33 yr1993
0none in 3 months

Manufacturer of textiles

Textile yarn
₹996.47 crFY 2024-25
+2%2024–2025
218LinkedIn · Jul 2026
36 yr1990
0none in 3 months

V.K. Industrial Corporation Limited – VKICL

Manufacturing services
₹950.48 crFY 2024-25
-45%2024–2025
59LinkedIn · Jul 2026
41 yr1985
0none in 3 months · last posted May 2026

Manufacturer of casting components for automobiles

Manufacturing services
₹843.72 crFY 2024-25
+3%2024–2025
750recorded
39 yr1987
0none in 3 months
50 of 1,196 companies shown here · the full list is on Radar
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Explore all 1,196 manufacturing services companies in Maharashtra on Radar

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

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

Find manufacturing services companies in Maharashtra, including contract manufacturing, electronics manufacturing services and engineering firms. You can also see manufacturing services startups in Maharashtra and companies hiring.

9 ways to explore manufacturing services in Maharashtra

Electronics manufacturing services (EMS) companiesContract & on-demand manufacturing companiesEngineering consulting & design servicesAuto components & machinery parts manufacturersMetals, alloys & steel processing companiesEnergy, waste & water treatment services

Electronics manufacturing services (EMS) companies

Electronics manufacturing, PCB and electronic component makers.

  1. Karamtara

    Integrated manufacturer of products for renewable energy and transmission lines sectors

    Electricity transmission & distribution equipment
    See in list
  2. Kul Systems

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

    Electronic manufacturing services
    Website
  3. Avon Engineers

    Manufacturers & designer of PCB connectors

    Printed circuit boards
    Website
  4. Perk Mercantile

    Manufacturer, supplier & exporter of PCB and indicator

    Printed circuit boards
    Website
  5. BAGLA group

    Provider of industrial automation and electric solutions

    Manufacturing services
    Website

Contract & on-demand manufacturing companies

Contract manufacturers, 3D printing and fabrication service providers.

  1. Viraj

    Manufacturer and supplier of stainless steel products

    Manufacturing services
    See in list
  2. Jay Jagdamba

    Stainless steel manufacturing company

    Manufacturing services
    See in list
  3. Echjay Industries

    Manufacturer of steel forgings

    Manufacturing services
    See in list
  4. Automotive Stampings and Assemblies

    Manufacturer of sheet metal components and welded assemblies for automobiles

    Manufacturing services
    See in list
  5. Ecorea & Kuroda Electric India

    Company that specializes in manufacturing components for televisions, washing machines, refrigerators, and air conditioning units

    Manufacturing services
    See in list

Engineering consulting & design services

Engineering design, testing and product development service firms.

  1. Tata Technologies

    Provider of design, product development, and engineering services

    Engineering consulting
    See in list
  2. Neilsoft

    Engineering Consulting Services

    Manufacturing services
    Website
  3. Auto Dynamics

    Provides support for designing and production of automobile parts

    Auto design and testing services
    Website
  4. Saviant Consulting

    Provider of data analytics, BI consulting, automation testing, and mobile application development services

    Iot services
    Website
  5. Plural Technology

    Provider of product lifecycle management consulting, implementation, and support services

    Manufacturing services
    Website

Auto components & machinery parts manufacturers

Makers of automotive components, castings and machined parts.

  1. Karamtara

    Integrated manufacturer of products for renewable energy and transmission lines sectors

    Electricity transmission & distribution equipment
    See in list
  2. Automotive Stampings and Assemblies

    Manufacturer of sheet metal components and welded assemblies for automobiles

    Manufacturing services
    See in list
  3. Shriniwas Engineering Auto Components

    Manufactures casted and machined components for automobiles

    Manufacturing services
    See in list
  4. Windals Precision

    Manufacturer and supplier of two wheel drive axle prodcuts

    Manufacturing services
    Website
  5. Pune Polymers

    Manufacturer of plastic and polymer parts and components for the automotive industry

    Auto components
    Website

Metals, alloys & steel processing companies

Foundries, galvanizing, steel and alloy processors.

  1. Eurobond

    Manufacturer & supplier of aluminium composite panels

    Building materials
    Website
  2. Hi-Tech Radiators

    Manufacturer of radiator and distribution tank solutions

    Manufacturing services
    Website
  3. SCTFL

    Manufacturer and distributor of sheets, plates, rods, tubes, pipes and metal products

    Building materials
    Website
  4. Varsha Refractories

    Provider of ceramic fiber blankets, insulating bricks & mineral wool mattress manufacturing services

    Building materials
    Website
  5. Sigma Galvanizig

    Provider of hot-dip galvanizing services

    Manufacturing services
    Website

Energy, waste & water treatment services

Energy efficiency, wastewater, air quality and pollution control providers.

  1. Manika Plastech

    Manufacturer of automotive batteries

    Energy storage
    Website
  2. NewAge Fire Protection

    Provider of fire protection services

    Manufacturing services
    Website
  3. EVIO

    Provider of IoT services

    Manufacturing services
    Website
  4. Technovision Energy

    Manufacturer of inverter, battery chargers, stabilizers, UPS, and other power electrical equipment

    Manufacturing services
    Website
  5. Khyatee

    Manufacturer of pump control panels, water management, and starters

    Aquaculture equipment
    Website

Listed manufacturing services companies in Maharashtra

Publicly listed manufacturing services companies in Maharashtra.

  1. Kirloskar

    Manufacturer of pig iron and iron castings for diverse industries

    Manufacturing services
    See in list
  2. Tata Technologies

    Provider of design, product development, and engineering services

    Engineering consulting
    See in list
  3. Precision Wires

    Manufacturer of winding wires

    Manufacturing services
    See in list
  4. Orient Refractories

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

    Manufacturing services
    See in list
  5. Greaves Cotton

    Manufacturer of cleantech powertrain solutions, generator sets, and farm equipment products

    Manufacturing services
    See in list
86 companies in Maharashtra

Manufacturing services startups in Maharashtra

Recently founded manufacturing services companies in Maharashtra.

  1. BCSSL

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

    Manufacturing services
    See in list
  2. Hamon Cooling Systems

    Provider of cooling tower solutions, including design, construction, and refurbishment services

    Manufacturing services
    Website
  3. G Engineering Limited

    Manufacturer of structural and agricultural steel products

    Manufacturing services
    Website
  4. Autocomp India

    Provider of ferrous and non-ferrous forged and precision machined components

    Manufacturing services
    Website
  5. Kv Forge

    Krishanveer Forge Limited | Life's a forge!

    Manufacturing services
    Website
65 companies in Maharashtra

Manufacturing services companies hiring in Maharashtra

Manufacturing services companies with open roles right now.

  1. Tata Technologies

    Provider of design, product development, and engineering services

    Engineering consulting
    See in list
  2. Greaves Cotton

    Manufacturer of cleantech powertrain solutions, generator sets, and farm equipment products

    Manufacturing services
    See in list
  3. Hindustan Platinum

    Manufacturer of precious metal products

    Manufacturing services
    See in list
  4. Agarwal Industrial

    Manufacturer and transporter of Bitumen and LPG

    Manufacturing services
    See in list
  5. Ultra Corpotech

    Manufacturer of precision-machined and fabricated metal components

    Manufacturing services
    See in list
31 companies in Maharashtra
Mobile reach

Top 10 manufacturing services apps from Maharashtra

The most-installed Android apps published by manufacturing services companies headquartered in Maharashtra — 2.1M installs between them. 23 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
4

myWIKA device

by WIKA

Installs15K
Rating—
Last updatedAug 2024
View on Google Play ↗
myWIKA device screenshot 1myWIKA device screenshot 2myWIKA device screenshot 3myWIKA device screenshot 4myWIKA device screenshot 5myWIKA device screenshot 6
6

Eurobond Rewards Pro

by Eurobond

Installs7K
Rating—
Last updatedJun 2026
View on Google Play ↗
Eurobond Rewards Pro screenshot 1Eurobond Rewards Pro screenshot 2Eurobond Rewards Pro screenshot 3Eurobond Rewards Pro screenshot 4Eurobond Rewards Pro screenshot 5Eurobond Rewards Pro screenshot 6
9

Fujitec SiteApp

by Fujitec

Installs2K
Rating—
Last updatedFeb 2026
View on Google Play ↗
Fujitec SiteApp screenshot 1Fujitec SiteApp screenshot 2Fujitec SiteApp screenshot 3Fujitec SiteApp screenshot 4Fujitec SiteApp screenshot 5Fujitec SiteApp screenshot 6
The business behind the activity

Manufacturing services financials in Maharashtra

Revenue, profit and growth from the filed annual accounts of 600 manufacturing services companies in Maharashtra for FY24-25 — 665 of the 1,196 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 22% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹125,908.12 cr

600 companies filing accounts

combined net profit₹7,449.92 cr

5.9% aggregate margin

are profitable92%

551 of 600 companies

median revenue~₹60.0 cr

the typical company

median revenue growth+11%

into FY24-25

earned by the top five22%

revenue concentration

Six-year view

Combined revenue of filing companies

₹54,310.22 crFY19-20543 filers
₹54,979.85 crFY20-21575 filers
₹84,526.35 crFY21-22593 filers
₹111,750.10 crFY22-23606 filers
₹120,213.41 crFY23-24622 filers
₹125,908.12 crFY24-25600 filers

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

Like-for-like

The same 557 companies over three years

+14%
FY22-23₹106,755.77 cr₹5,937.20 cr net
FY23-24₹113,078.50 cr₹6,456.41 cr net
FY24-25₹121,225.96 cr₹7,218.37 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 cr3253% profitable
₹1–10 cr9787% profitable
₹10–100 cr24994% profitable
₹100–1,000 cr20398% profitable
Over ₹1,000 cr19100% profitable

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

Momentum

How fast revenue moved into FY24-25

Shrinking147
0–20%224
20–50%125
50–100%47
Doubled+43

586 companies with accounts for both years; median growth +11%.

Profitability

Profit is concentrated at the top

551profitable
49loss-making
5.9%aggregate margin
3.7%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
Swadeshi Industries and LeasingSwadeshi Industries And Leasing Ltd+542%₹16.76 cr
Viera SeamlessVIERA SEAMLESS PRIVATE LIMITED₹59.79 cr
StancortubularsSTANCOR TUBULAR PRODUCTS PRIVATE LIMITED+378%₹86.65 cr
Vighnahar EngineersVIGHNAHAR ENGINEERS PRIVATE LIMITED+238%₹28.79 cr
VARMAN Equipment ServicesVARMAN HEAVY EQUIPMENTS PRIVATE LIMITED+233%
S S EngineersSAMRUDDHA SUGAR ENGINEERS PRIVATE LIMITED₹36.22 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
Miltech IndustriesMILTECH INDUSTRIES PRIVATE LIMITED62.2%₹11.09 cr
NESCONESCO LIMITED
Industrial Controls & AppliancesINDUSTRIAL CONTROLS AND APPLIANCES PRIVATE LIMITED
BECTOCHEMBECTOCHEM CONSULTANTS AND ENGINEERS PRIVATE LIMITED30.2%
Century MarkersCENTURY INKS PVT LTD₹12.80 cr
Jay PrecisionJAY PRECISION PHARMACEUTICALS PRIVATE LIMITED₹151.56 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Manufacturing services560₹116,354.16 cr~₹65.7 cr92%5.5%
Leaders

Largest manufacturing services companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
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%
Kirloskar Oil EnginesKirloskar Oil Engines Limited₹5,147.74 cr₹431.93 cr8.4%+6%
Precision WiresPRECISION WIRES INDIA LIMITED₹4,035.62 cr₹90.04 cr2.2%+22%
Sunflag Iron and SteelSUNFLAG IRON AND STEEL CO LTD₹3,552.05 cr₹161.75 cr4.6%+4%
Tata TechnologiesTATA TECHNOLOGIES LIMITED₹3,509.99 cr₹849.12 cr24.2%+12%
KaramtaraKARAMTARA ENGINEERING LIMITED₹3,115.90 cr₹134.92 cr4.3%+30%
Orient RefractoriesRHI MAGNESITA INDIA LIMITED₹2,897.12 cr₹223.00 cr7.7%+2%
Jay JagdambaJay Jagdamba Limited₹2,203.94 cr₹161.40 cr7.3%+49%
Ultra CorpotechULTRA CORPOTECH PRIVATE LIMITED₹2,154.91 cr₹344.59 cr16.0%+2%
Some figures are available to Radar members.Log in to Radar to see every figure

Standalone annual accounts filed with the Ministry of Corporate Affairs. Brands that share one legal entity are shown together and counted once.

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 Maharashtra 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, Maharashtra20

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 Maharashtra

18Acquisition
2Merger

Most active acquirers

  1. Tata technologies3
  2. Sunita tools3
  3. Krishna defence & allied industries2
  4. Kirloskar pneumatic2
  5. Spectrum electrical industries1

Most acquired or merged

  1. ES-Tec Group2
  2. Taharabadkar Solutions Pvt Ltd1
  3. Systems and Components (India)1
  4. Alric Electric Private Limited1
  5. Avisan Group1

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

Manufacturing services funding in Maharashtra

7 manufacturing services companies in Maharashtra have recorded equity funding, US$48.17m in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in Maharashtra

Meet the people behind manufacturing services companies in Maharashtra. 381 of 1,196 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Maharashtra manufacturing services companies by sub-sector

The most common specialisations among manufacturing services companies in Maharashtra. 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