Missiles, torpedoes, naval guns and the warheads/explosives that arm the platform.
Bharat DynamicsDirect supplier · HighListed
Solar Industries IndiaDirect supplier · MediumListed
Premier ExplosivesDirect supplier · MediumListed
Zen TechnologiesDirect supplier · LowListed
Zen Technologies (ZENTEC)
Leading combat training-simulator maker incl. naval gunnery/damage-control simulators, anti-drone systems
Price
₹1,588
snapshot 30 Oct 2026
Strengths
Market-leading position in combat training simulators, spanning naval gunnery/damage-control and the newer anti-drone segment, spreads demand across all three armed services rather than naval budgets alone
Risks
Not a naval pure-play - simulator and anti-drone revenue spans all three armed services
Revenue fell roughly 29% in FY25-26 after a prior spike year, showing order lumpiness
Note: Not a naval pure-play (spans all three services); revenue fell ~29% FY25-FY26 after a spike year
Market cap, ratios, CAGR and revenue: company table snapshot as of 30 Oct 2026 (the same figures on every page). Price: snapshot as of 30 Oct 2026. Not investment advice.
Where it fits
Supplies the missiles, torpedoes, naval guns and warheads/explosives that arm the platform and give it offensive and defensive capability.
Why it matters
Weapons and sensor integration is what converts a steel hull into an actual warfighting platform - this layer is the Navy's core operational requirement.
Where the value pool sits
Government-owned missile/torpedo primes capture the bulk of high-value contract revenue, while explosives and simulator makers hold smaller, more diversified niches.
Key drivers
Navy's missile/torpedo/ammunition replenishment and modernisation cycles
Defence explosives demand as platforms are armed and re-armed