Nifty India Manufacturing PE Ratio
Valuation Percentile
Nifty India Manufacturing's PB is cheaper than 86% of the last 5 years.
The Nifty India Manufacturing PE ratio is 26.80 as of 1 October 2026, about 0% below its 5-year median of 26.91, which places it in fairly valued territory on a historical basis.
PE Ratio vs Historical Medians
| Period | Median PE | Current vs Median |
|---|---|---|
| 5 Years | 26.91 | -0.41% |
| 3 Years | 28.16 | -4.83% |
| 1 Year | 27.91 | -3.98% |
Historical PE Ratio
Series start. P/E is published from 16 Aug 2021. Index values go back to 1 Apr 2005.
Earnings
Index earnings are the profits behind the index level: the closing value divided by the P/E ratio, in index points. The line moves in steps because it changes only when trailing four-quarter profits are updated or the constituents change. Compare it with price to see whether a move came from earnings or from a change in what investors pay for them.
Nifty India Manufacturing earnings grew +9.02% a year over the last 5 years, while the index moved +13.95% a year and its P/E went from 21.5 to 26.8.
Earnings growth is annualised from the last trading day at or before the start of each window to 1 Oct 2026. Price growth uses the index level over the same two dates, excluding dividends. EPS is undefined on days with no published P/E, so those days are skipped. Past growth, not a forecast.
Ways to invest in Nifty India Manufacturing
3 ETFs and 3 index funds track this index. Prices and NAVs as of 1 Oct 2026.
ETFs (3)
| ETF | Symbol | Price | NAV | Premium | 1Y |
|---|---|---|---|---|---|
| Mirae Asset Nifty India Manufacturing ETF | MAKEINDIA | 154.87 | - | - | +1.80% |
| Nippon India Nifty India Manufacturing ETF | MANUFGBEES | 154.6 | - | - | +2.55% |
| Motilal Oswal Nifty India Manufacturing ETF | MOMGF | 155.5 | - | - | +2.99% |
Index funds (3)
| Fund | AMC | NAV | Since |
|---|---|---|---|
| Navi Nifty India Manufacturing Index Fund | Navi AMC Limited | 18.511 Oct 2026 | 2022 |
| UTI Nifty India Manufacturing Index Fund | UTI Asset Mgmt. Co. Ltd. | 11.831 Oct 2026 | 2025 |
| Nippon India Nifty India Manufacturing Index Fund | Nippon Life India Asset Management Limited | 10.621 Oct 2026 | 2025 |
Listed for information only, not a recommendation. Check expense ratio and tracking difference before investing.
Performance and risk
1-year holding windows since 2021 returned a median of +14.37% (best +64.70%, worst -6.57%).
View full performance and risk
Returns as of September 2026, from the NSE factsheet for the Nifty India Manufacturing. 1-year returns are absolute; 5-year returns are annualized.
Stocks in the Nifty India Manufacturing
The Nifty India Manufacturing contains 77 constituents. Its largest sectors by weight are Automobile and Auto Components (25.3%) and Capital Goods (23.1%).
Recent changes
4 October 2026: Added Amber Enterprises India Ltd., Hitachi Energy India Ltd., Vedanta Aluminium Metal Ltd., Welspun Corp Ltd.. Removed Bharat Heavy Electricals Ltd., Castrol India Ltd., Honeywell Automation India Ltd..
Constituent list as of 4 October 2026, sourced from NSE Indices. Weights as of 30 September 2026, from the NSE factsheet.
How this index works
- Selection
- ‘Nifty India Manufacturing’ Index aims to track the performance of the companies selected from the combined universe of Nifty 100, Nifty Midcap 150 and Nifty Smallcap 50 index based on 6 month average free-float market capitalisation within the eligible basic industries that broadly represent
- Weight cap
- At the time of rebalancing of shares/ change in index constituents/ change in investable weight factors (IWFs), the weightage of the index constituent (where applicable) is capped at 10%.
Summarised from NSE's official methodology document (PDF) for the Nifty India Manufacturing; the PDF is authoritative.
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Frequently Asked Questions
What is the current Nifty India Manufacturing PE ratio?
As of 1 October 2026, the Nifty India Manufacturing PE ratio is 26.80. That is about 0% below its 5-year median of 26.91 and about 4% below its 1-year median of 27.91.
Is the Nifty India Manufacturing undervalued right now?
On a historical basis it screens as fairly valued. Its current PE of 26.80 sits below every median window: 1-year (27.91), 3-year (28.16) and 5-year (26.91).
What is a normal PE ratio for the Nifty India Manufacturing?
Over the past five years its median PE has been 26.91, and over the past three years 28.16. Today's 26.80 is toward the lower end of that historical range.
How many stocks are in the Nifty India Manufacturing?
The Nifty India Manufacturing contains 77 stocks. By number of companies, its largest sectors are Capital Goods (23 stocks), Automobile and Auto Components (15 stocks) and Healthcare (11 stocks).
What returns has the Nifty India Manufacturing delivered?
As of September 2026, the Nifty India Manufacturing total return (with dividends reinvested) is +5.48% over the past year and +15.36% annualized over the past five years. One-year figures are absolute; multi-year figures are annualized (CAGR). Data from the NSE factsheet.
How volatile is the Nifty India Manufacturing?
Over the year to September 2026, the Nifty India Manufacturing had an annualized volatility (standard deviation of daily returns) of 15.50%. Its beta versus the Nifty 50 is 1.01, meaning it has moved roughly in line with the broad market.
What is a typical one-year return for the Nifty India Manufacturing?
Across every one-year holding window since 2021, the Nifty India Manufacturing total return has a median of +14.37%, with the best window at +64.70% and the worst at -6.57%. Based on NSE Total Returns Index data; a past distribution, not a prediction.
How fast have Nifty India Manufacturing earnings grown?
Nifty India Manufacturing earnings, measured as the index level divided by its P/E, grew +9.02% a year over the last 5 years, while the index itself moved +13.95% a year and its P/E rose from 21.48 to 26.80. Past growth, not a forecast.
Last updated: 1 October 2026.