Top 5 Listed Indian Drone Companies Powering the Future of Modern Warfare

Explore India’s top listed drone companies—Zen Technologies, Paras Defence, HAL, BEL, and RattanIndia—driving the UAV revolution. Includes full financials, order books, and technical indicators like PE, SMA, and RSI.

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Top 5 Listed Indian Drone Companies Powering the Future of Modern Warfare

Against the backdrop of Ukraine's strategic use of drones to inflict significant damage on Russian military assets, the global defense landscape is undergoing a transformation. Drones, once considered ancillary tech, are now pivotal in modern warfare. India, recognizing this tectonic shift, is rapidly investing in its indigenous drone ecosystem.

Several Indian companies are not only innovating in UAV (Unmanned Aerial Vehicle) technology but also securing large defense orders, becoming attractive investments. Here's a detailed analysis of India's top listed drone companies with financials, order books, and technical indicators (PE, SMA, RSI)—only including those with transparent data.

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1. Zen Technologies Ltd (NSE: ZENTEC)

• Market Cap: ₹17,267 Cr

• P/E Ratio: 84.23

• ROE: 14.73%

• Debt-to-Equity: 0.03

• Revenue (FY24): ₹737.36 Cr

• Net Profit (FY24): ₹210.35 Cr

• Order Book: ₹1,600 Cr

• Technical Overview:

  • SMA: Trading above both 50-day and 200-day SMAs (Bullish)

  • RSI: 70 (Approaching Overbought)

About the Company:
Zen Technologies is a major player in defense simulation and anti-drone systems. Its strong order book from the Indian Air Force reflects growing demand for its advanced training and combat tech.

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2. Paras Defence and Space Technologies Ltd (NSE: PARAS)

• Market Cap: ₹4,592 Cr

• P/E Ratio: 101.29

• ROE: 5.95%

• Debt-to-Equity: 0.00

• Revenue (FY24): ₹314.53 Cr

• Net Profit (FY24): ₹42.25 Cr

• Order Book: ₹630 Cr

• Technical Overview:

  • SMA: Strong bullish trend

  • RSI: 65 (Moderate Strength)

About the Company:
Paras Defence specializes in anti-drone technologies and imaging systems and is collaborating with international UAV makers. The company is deeply embedded in India’s Make-in-India defense initiative.

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3. RattanIndia Enterprises Ltd (NSE: RTNINDIA)

• Market Cap: ₹9,879 Cr

• P/E Ratio: 13.78

• ROE: 55.94%

• Debt-to-Equity: 0.00

• Revenue (FY24): ₹7,242.45 Cr

• Net Profit (FY24): ₹715.5 Cr

• Technical Overview:

  • SMA: Near 50-day SMA, potential breakout

  • RSI: 60 (Neutral)

About the Company:
Through its drone subsidiary NeoSky, RattanIndia is developing next-gen logistics drones and AI-powered drone networks. It has strong fundamentals and a futuristic tech pipeline.

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4. Hindustan Aeronautics Ltd (NSE: HAL)

• Market Cap: ₹3,05,138 Cr

• P/E Ratio: 35.82

• ROE: 10.40%

• Debt-to-Equity: 0.00

• Revenue (FY24): ₹31,153.82 Cr

• Net Profit (FY24): ₹8,481.3 Cr

• Technical Overview:

  • SMA: Above 200-day SMA (Strong Momentum)

  • RSI: 75 (Overbought)

About the Company:
HAL is a government-owned aerospace behemoth involved in manufacturing indigenous combat drones and supporting UAV programs. Its massive scale makes it a key player in India’s defense future.

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5. Bharat Electronics Ltd (NSE: BEL)

• Market Cap: ₹2,28,686 Cr

• P/E Ratio: 52.3

• ROE: 28.55%

• Debt-to-Equity: 0.00

• Net Profit (FY24): ₹1,316.06 Cr

• Technical Overview:

  • SMA: Bullish trend (above 50 and 200-day SMAs)

  • RSI: 68 (Close to overbought)

About the Company:
BEL develops cutting-edge anti-drone defense systems and radar technologies. Its long-standing government ties ensure robust contracts and reliable revenue streams.

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Comparison Table: Drone Stocks at a Glance

Company	Market Cap (₹ Cr)	P/E	ROE (%)	Order Book (₹ Cr)	RSI	SMA Trend
Zen Technologies Ltd	17,267	84.23	14.73	1,600	70	Bullish
Paras Defence & Space	4,592	101.29	5.95	630	65	Bullish
RattanIndia Enterprises	9,879	13.78	55.94	NA	60	Neutral
Hindustan Aeronautics	3,05,138	35.82	10.40	NA	75	Bullish
Bharat Electronics Ltd	2,28,686	52.3	28.55	NA	68	Bullish

Conclusion: Investing in India’s Drone Defense Future

Ukraine’s success in using drones to strike deep inside Russian territory is reshaping defense doctrines worldwide. For India, investing in indigenous drone technology is both a strategic and economic imperative.

These five companies are leading the charge in India’s drone revolution. Whether you’re an investor looking for high-growth tech plays or a defense analyst tracking UAV advancements, these stocks deserve close attention.

Caution: Always consult a financial advisor before investing. RSI, SMA, and PE are dynamic indicators and should be considered with broader market analysis.

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