Hindustan Aeronautics to Solar Industries: Check defence stocks that played a crucial role in Operation Sindoor

Operation Sindoor stands as a defining moment for the Indian armed forces. The operation was launched in the early hours of May 7 as a response to the terror attack in Pahalgam. Executed within an extraordinary 23-minute window, Operation Sindoor showcased the defence prowess of indigenous manufacturing.

Beyond battlefield success, Operation Sindoor reveals a broader narrative — India is no longer a passive consumer but a creator of defence capabilities that influence regional security equations.

Solar Industries

Solar Industries delivered the Nagastra drones that were instrumental in the surgical success of Operation Sindoor. These loitering munitions represent a paradigm shift in precision warfare, enabling targeted strikes with minimal collateral impact. The company’s record-breaking revenue of ₹1,973 crore in Q3 FY25, complemented by an impressive EBITDA margin of 38%, signals robust operational excellence. With a commanding order book exceeding ₹7,100 crore, Solar Industries exemplifies the fusion of innovation and execution, reinforcing India’s strategic autonomy.

Hindustan Aeronautics Limited (HAL)

HAL, a Maharatna CPSE and the backbone of India’s aerospace ambition, delivered critical aircraft and support systems during Operation Sindoor. FY25 consolidated revenues stood at ₹30,980 crore, up 1.9% YoY, while net profit rose 9.7% to ₹8,364 crore, reflecting operational resilience amid complexity. Its formidable order book of ₹1.84 lakh crore in FY25 reflects future revenue visibility. HAL’s leadership in aerospace manufacturing embodies India’s leap toward self-reliance and technological mastery.

Bharat Electronics Limited (BEL)

BEL’s Akashteer air defence system played a crucial role in neutralising drone threats, demonstrating India’s prowess in electronic warfare and airspace defence. As of April 1, 2025, its order book stands at around ₹71,650 crore, underlining the confidence placed in BEL’s diversified portfolio - from radar systems to advanced communication solutions. The company is yet to announce its March quarter results. In the December quarter, the company 38% YoY rise in revenue to ₹5,771 crore, while its net profit stood at ₹1,312 crore, up 52% YoY.

Bharat Dynamics Limited (BDL)

Government PSU, Bharat Dynamics (BDL), is engaged in the manufacturing of guided missiles and other defence equipment. The company has co-developed the Akash missile with DRDO, which is a short-range surface-to-air missile (SAM). As of April 1, 2025, Bharat Dynamics' total order book stood at ₹22,700 crore, while the company reported revenue of ₹3,300 crore in its provisional business updates.

Market snapshot: CMP and market capitalisation

Final thoughts

Operation Sindoor crystallises the fusion of strategic vision and technological innovation, showcasing India’s emergence as a self-reliant defence powerhouse. Solar Industries, BEL, Bharat Dynamics, Hindustan Aeronautics, along with other defence stocks, are the architects of this new era, driving operational excellence and strategic autonomy.