May 2026
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Largest Diversified Industrials Public Companies in India
Benchmark revenue and EBITDA valuation multiples for public comps like
Adani Enterprises, Mahindra & Mahindra, ABB India, Siemens India and Bosch.
 | Adani Enterprises Ltd is a holding company. The company's segment includes Integrated Resources Management, Mining, Commercial Mining, New Energy Ecosystem, Road, Airport, and others. The company generates maximum revenue from the Integrated Resources Management segment. | $31 | +13% | $40B | $51B | 4.8x | 18.5x | ||
| Mahindra & Mahindra Ltd is a holding company. The company's segment includes Automotive; Farm Equipment and Services. It generates maximum revenue from the Automotive segment. The Automotive segment comprises the sale of automobiles, spares, mobility solutions, construction equipment, and related services. Geographically, it derives a majority of its revenue from India. | $31 | -9% | $38B | $46B | 2.2x | 10.4x | ||
| ABB India Ltd enables a more sustainable and resource-efficient future with the technology leadership in electrification and automation. It energizes the transformation of society and industry to achieve a more productive, and sustainable by connecting software to its electrification, robotics, automation, and motion portfolio. The company's revenue is split between its four operating segments: Robotics and Discrete Automation, Electrification, Motion, and Process Automation. The company has several manufacturing sites located in India, and the majority of its revenue is generated in India. | $75 | +14% | $16B | $15B | 10.7x | 60.8x | ||
| Siemens Ltd produces systems and solutions for electrification, automation, and digitalization. The company's business segments are; Energy, Smart Infrastructure, Mobility, Digital Industries, and others. The Smart Infrastructure segment derives maximum revenue which functions as a supplier of products, systems, solutions, and services for the transmission and distribution of electrical energy for power utilities, industrial companies, and infrastructure segments. The products and services portfolio under this segment includes systems for low and medium-voltage distribution, solutions for smart grids and energy automation, low-voltage power supply systems, provides intelligent and connected infrastructure for grids and buildings. Geographically, it derives maximum revenue from India. | $39 | +11% | $14B | $13B | 5.1x | 36.0x | ||
| Bosch Ltd is a holding company of subsidiaries manufacturing and trading automotive products. The company sells car parts such as fuel systems, electrical drives and motors, steering systems, and aftermarket products to the automotive industry. The company's reportable segments are; Automotive products which generate maximum revenue, Consumer Goods, and Others. Its operations in the automotive business consist of diesel systems, gasoline systems, and automotive aftermarket products and services. The Consumer Goods segment predominantly consists of trading activities in power tools and consumables, and the Others segment includes industrial technology, building technology products, and services. Geographically, the company generates a majority of its revenue within India. | $390 | +10% | $11B | $11B | 5.2x | 25.5x | ||
| Cyient Ltd provides a variety of information technology, IT, and engineering services. The firm organizes itself into three segments that include Digital, Engineering & Technology segment includes Transportation, Connectivity, Sustainability and NGA (New Growth Areas such as HiTech, Automotive, Semicon, and Medical Technologies), Design-led Manufacturing (DLM) segment is engaged in the business of manufacturing and providing Electronic Manufacturing Services and Others include Cyient Solutions and Systems Private Limited and Aerospace Tooling division of Cyient Defense Services Inc. USA. The majority of the company's revenue comes from the Digital, Engineering & Technology segment. | $10 | -31% | $1B | $934M | 1.2x | 9.1x | ||
| Median | $35 | +11% | $15B | $14B | 4.9x | 22.0x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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