As the drone industry continues to evolve globally, India is rapidly emerging as a key player in this high-tech sector. With advancements in both civil and defence applications, drones are becoming an integral part of various industries, including agriculture, logistics, surveillance, and defence.
The Indian government’s push for “Make in India” and self-reliance in defence technologies has further accelerated the growth of domestic drone manufacturers. In this blog, we’ll explore the best drone stocks in India as of April 2025, focusing on companies that have shown strong growth.
| Company | Sub-Sector | Market Cap | PE Ratio | ↓5Y CAGR |
| Zen Technologies Ltd | Electronic Equipments | 13,272.30 | 103.79 | 124.72 |
| Rattanindia Enterprises Ltd | Power Trading & Consultancy | 5,661.53 | 13.29 | 78.74 |
| Hindustan Aeronautics Ltd | Aerospace & Defence Equipments | 2,79,031.62 | 36.61 | 73.91 |
| Bharat Electronics Ltd | Electronic Equipments | 2,19,985.63 | 55.21 | 65.32 |
| Honeywell Automation India Ltd | Electronic Equipments | 29,745.28 | 59.32 | 6.22 |
Note: The best drone stocks list, sorted based on the 5-year compound annual growth rate (CAGR), is as of April 1, 2025.
Zen Technologies Limited, established in 1996, specialises in developing combat training and counter-drone solutions for defence and security agencies. In Q3 FY25, Zen reported a net profit of ₹38.62 crore, marking a 22% year-on-year increase from ₹31.67 crore.
In a recent development, the company secured an order worth ₹152 crore from the Ministry of Defence for the supply of an Integrated Air Defence Combat Simulator (IADCS) for the L70 gun.
Key metrics:
RattanIndia Enterprises Limited, the flagship company of the RattanIndia Group, spans multiple tech-focused sectors, such as e-commerce, electric vehicles, drones, and fintech. Its primary ventures include Cocoblu Retail, Revolt Motors, Neobrands, NeoSky India, Wefin, and Throttle Aerospace Systems.
For the third quarter of FY25, RattanIndia Enterprises reported a consolidated net loss of ₹170.4 crore for the December 2024 quarter, a significant decline from a profit of ₹187.3 crore in the same quarter the previous year.
Key metrics:
Hindustan Aeronautics Limited (HAL), one of the world’s largest aerospace and defence companies, was founded in 1940 by Walchand Hirachand. HAL reported a Q3 FY25 net profit of ₹1,43,979 lakh.
In a recent development, the company signed a ₹62,700-crore contract with the Ministry of Defence for the supply of 156 Made-in-India Light Combat Helicopters (LCH) Prachand for the Indian Army and Air Force.
Key metrics:
Bharat Electronics Limited (BEL), a PSU under the Ministry of Defence, was established in 1954. It manufactures defence electronics like radars and communication systems, along with civilian products such as telecom solutions, medical electronics, and electronic voting machines.
In a recent development, BEL said that it has received orders worth ₹18,715 crore during financial year 2025, which is lower than the company’s projections of ₹25,000 crore
Key metrics:
| Company | Sub-Sector | Market Cap | PE Ratio | ↓5Y CAGR | Net Profit Margin |
| Zen Technologies Ltd | Electronic Equipments | 13,272.30 | 103.79 | 124.72 | 27.97 |
| Hindustan Aeronautics Ltd | Aerospace & Defence Equipments | 2,79,031.62 | 36.61 | 73.91 | 23.59 |
| Bharat Electronics Ltd | Electronic Equipments | 2,19,985.63 | 55.21 | 65.32 | 19.03 |
| Honeywell Automation India Ltd | Electronic Equipments | 29,745.28 | 59.32 | 6.22 | 11.94 |
| Rattanindia Enterprises Ltd | Power Trading & Consultancy | 5,661.53 | 13.29 | 78.74 | 6.88 |
Note: The best drone stocks list here is as of April 1, 2025. The stocks are sorted based on the Net Profit Margin.
| Company | Sub-Sector | Market Cap | PE Ratio | ↓5Y CAGR | Debt to Equity |
| Hindustan Aeronautics Ltd | Aerospace & Defence Equipments | 2,79,031.62 | 36.61 | 73.91 | 0 |
| Bharat Electronics Ltd | Electronic Equipments | 2,19,985.63 | 55.21 | 65.32 | 0 |
| Zen Technologies Ltd | Electronic Equipments | 13,272.30 | 103.79 | 124.72 | 0.01 |
| Honeywell Automation India Ltd | Electronic Equipments | 29,745.28 | 59.32 | 6.22 | 0.02 |
| Rattanindia Enterprises Ltd | Power Trading & Consultancy | 5,661.53 | 13.29 | 78.74 | 1.4 |
Note: The best drone stocks list here is as of April 1, 2025. The stocks are sorted based on the debt-to-equity ratio.
As the drone industry continues to expand and innovate, India is emerging as a key player with a growing number of companies in the sector. The government’s emphasis on self-reliance and “Make in India” is accelerating the development of domestic drone technologies, further boosting the prospects of Indian drone stocks.
Moving into April 2025, these companies demonstrate their capability to address the evolving needs of the defence, aerospace, and commercial sectors. Investors should closely monitor these developments to evaluate potential opportunities within this dynamic and rapidly growing market.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Apr 1, 2025, 4:36 PM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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