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SME Magazine Honours India’s Fastest Growing Engineering Companies at NSE
Articles- Feb 19,26
The Smart Manufacturing & Enterprises (SME) Conference & Awards 2026 - held on February 11, 2026 at National Stock Exchange (Mumbai) - highlighted resilience and technology as the cornerstones of India’s next manufacturing growth phase, while honouring India's fastest growing engineering companies.
These are undeniably uncertain times. With global trade increasingly fragmented by geopolitical tensions and shifting supply chains, Indian manufacturing must move from rapid expansion towards a phase of strategic consolidation. Against this backdrop, the Smart Manufacturing & Enterprises (SME) Conference & Awards 2026, organised by Smart Manufacturing & Enterprises (formerly Industrial Product Finder) and ASAPP Info Global Group, convened policymakers, manufacturing leaders, technology providers and financial institutions on February 11, 2026 at the National Stock Exchange (NSE), Bandra-Kurla Complex, Mumbai.
Held under the theme “Scaling India’s Manufacturing in Volatile Times,” the conference concluded with the presentation of the SME Awards for Fastest Growing Engineering Companies, recognising enterprises that have demonstrated sustained revenue growth and profitability despite global uncertainties.
India’s manufacturing sector enters 2026 at a decisive inflection point. While policy-led momentum, rising capital formation and accelerated digital adoption have strengthened confidence in Indian engineering capabilities, global trade fragmentation, supply-chain realignments and volatility continue to test resilience. The conference focused on embedding stability, innovation and technology maturity into the next phase of industrial growth.
Setting the tone for the day, Pratap Padode, Founder & Managing Director, ASAPP Info Global Group & Editor-in-Chief, Smart Manufacturing & Enterprises, emphasised that “Indian manufacturing must now transition from rapid acceleration to disciplined consolidation. He underlined that resilience, productivity enhancement and strategic technology adoption will determine the sustainability of future growth.”
Inauguration_SME Conference - L-R: Sundararaman G, Chief Scientist and Head - Wipro Research, Wipro Infrastructure
Engineering (WIN); Sunil Mehta, AVP, Mitsubishi Electric India, and President, AIA; Pratap Padode, Founder & MD, A
SAPP Info Global Group; Kailashkumar Varodia, COO & CFO, RXIL; and ND Mhatre, DG (Tech), ITAMMA
The Guest of Honour Ashish Chauhan, MD and CEO, National Stock Exchange of India, said “India is entering a new geopolitical era as multilateral systems weaken and bilateral trade agreements gain momentum, with India signing FTAs with the US and EU. The next 30–40 years are a potential golden period for Indian manufacturing, offering SMEs and large firms an opportunity to compete globally. While technology and geopolitics are twin growth drivers, companies have to urgently adopt AI and robotics in factory operations.”
He also pointed to NSE’s SME platform—700 listed companies, average Rs 240 million raised, and Rs 2.5–3 trillion market capitalisation—as a strong funding avenue for entrepreneurs.
SME Conference & Awards was supported by National Stock Exchange (as the Venue Partner) and SME Chamber of India (Association Partner). The event was organised as a precursor to The Future Factory Expo 2026, which will be hosted Smart Manufacturing & Enterprises on November 3-4, 2026 at NESCO (Mumbai), to bring together solution providers for high-tech manufacturing, which will be crucial for driving India's economic growth.
Experts’ insights
Addressing the gathering, Kailashkumar Varodia, COO & CFO, RXIL (Receivables Exchange of India Limited), highlighted the importance of structured receivables financing mechanisms such as TReDS in addressing MSME liquidity gaps and strengthening supply-chain stability. ND Mhatre, Director General (Tech), Indian Textile Accessories & Machinery Manufacturers Association (ITAMMA), stressed sustained innovation and industry-academia collaboration as key to enhancing global competitiveness. Sundararaman G, Chief Scientist and Head – Wipro Research, Wipro Infrastructure Engineering, spoke on leadership and innovation as drivers of organisational transformation in a technology-driven industrial ecosystem.
Building on these perspectives, the conference moved into a series of focused panel discussions that examined resilience, technology adoption and SME-led growth as critical pillars of India’s manufacturing roadmap.
The first panel discussion, moderated by Ranjan Sharma, Senior Director, CareEdge Ratings, examined strategies for building manufacturing resilience amid geopolitical volatility and demand uncertainty. The panel discussed impact of geopolitical volatility on Indian manufacturing, and strategies for building agile and resilient supply chains. Zurvan Marolia, former Sr. VP, Godrej Enterprises Group; Seshnath B, MD & CEO, Walvoil Fluid Power India; Vishal Adkar, AVP, Avalon Consulting; and ND Mhatre, DG (Tech), ITAMMA participated in the discussion.
The second panel discussion, moderated by Yogesh Shah, Senior Director, CareEdge Ratings, explored automation, AI-driven analytics, digital operations and cloud platforms as enablers of operational agility and supply-chain resilience. This panel emphasised how automation can be the driver of operational efficiency and enhance competitiveness through structured digital transformation. Speakers in the panel included: Sunil Mehta, AVP, Mitsubishi Electric India, and President, Automation Industry Association (AIA); Rajeev Solanki, India Head - Central Process Engineering, Legrand; Anindya Bhattacharya, Industry Solutions Advisor, Amazon Web Services; Sudipta Ghosh, Partner, PwC India; and Munira Loliwala, VP, TeamLease Digital.
MD with chief guest NSE MD - Pratap Padode (left) with Chief Guest Ashishkumar Chauhan, MD & CEO, NSE
Focusing on SMEs, the third panel discussion, moderated by Kalpesh Patel, Director, CareEdge Ratings, examined pathways for SMEs to integrate into global supply chains, and policy and ecosystem support required for SMEs to scale-up operations. Dr Umesh Mhatre, MD, Surface Modification Technologies; Manish Poudwal, CMD, Subtronics India; Srinivasan R, Founder Director, AIRA Consulting; Rajeswari Kesavan, Head of Financial Institutions & Strategic Initiatives, RXIL; and Mohan Ramaswamy, Co-Founder and CEO, Rubix Data Sciences shared their insights in this panel discussion.
Delivering the session on “Engineering from India for the World,” Harshbeena Zaveri, Vice Chairperson & Managing Director, NRB Bearings Ltd, underscored the importance of global quality benchmarks, advanced manufacturing capabilities and sustained R&D investment to strengthen India’s export footprint and move up the value chain.
Bhavesh Thakkar, Partner, Tax and Regulatory Services, EY India, delivered a keynote on “Incentivising SME Growth: The Policy Imperative,” outlining the role of fiscal incentives, regulatory frameworks and performance-linked schemes in strengthening competitiveness and enabling sustained industrial development.
SME Annual 2026 launch - Unveiling of the 54th Annual Edition of SME magazine. L-R: Bhavesh Thakkar
(Partner, EY India), Pratap Padode and Ashishkumar Chauhan, MD & CEO, NSE
Rewarding India’s fastest growing engineering firms
The highlight of the evening was the presentation of the Smart Manufacturing & Enterprises (SME) Awards for Fastest Growing Engineering Companies. Each year, Smart Manufacturing & Enterprises publishes “India’s Top 100 Engineering Companies” (under Rs 50 billion revenue), based on the performance of listed companies. Evaluation is conducted on two parameters—Revenue and Net Profit—over the last three financial years, with equal weightage assigned to both. The awards presented this year are based on performance in FY25.
Companies are segmented into four revenue-based categories: Very Large (Rs 20 billion– Rs 50 billion); Large (Rs 10 billion – Rs 20 billion); Medium (Rs 2.5 billion – Rs 10 billion); and Small (Rs 0.75 billion – Rs 2.5 billion). From each category, the top 25 performers collectively form the “Top 100 Engineering Companies in India.” Every company featuring in this “Top 100” list is a “Winner” (irrespective of their rank in the list) as they have delivered strong performance in a tough market conditions. SME Awards recognised some of these top performers who have made it to the elite list of “Top 100”:
- Eimco Elecon India Ltd (Small Category)
- Jyoti Ltd (Small Category)
- Veljan Denison Ltd (Small Category)
- Wendt India Ltd (Small Category)
- Apollo Micro Systems Ltd (Medium Category)
- SJS Enterprises (Medium Category)
- Bharat Bijlee Ltd (Large Category)
- Cyient DLM Ltd (Large Category)
- Greaves Cotton Ltd (Large Category)
- NRB Bearings Ltd (Large Category)
- Pitti Engineering Ltd (Large Category)
- Va Tech Wabag Ltd (Very Large Category)
Collectively, the winners across categories reflect the strength and diversity of India’s engineering ecosystem—from agile small enterprises to globally competitive large corporations. Congratulating the awardees, Pratap Padode, Founder and MD, ASAPP Info Global, stated that “The Top 100 Engineering Companies exemplify disciplined growth, operational excellence and resilience in volatile times. Sustained productivity enhancement, technology adoption and expansion into global markets will shape India’s next manufacturing growth cycle.”
The event also witnessed the unveiling of the 54th Annual Edition of Smart Manufacturing & Enterprises, featuring over 25 articles authored by industry leaders on the theme “Make in India Amid VUCA Environment,” reinforcing the publication’s 54-year legacy of delivering business-critical insights to India’s engineering ecosystem.
Smart Manufacturing & Enterprises Conference & Awards 2026 reaffirmed that India’s manufacturing future will be shaped not merely by scale, but by resilience, disciplined growth and technology-led transformation. From policy reform and capital access to AI adoption and global market integration, the deliberations outlined a pragmatic roadmap for navigating volatility while sustaining momentum. The celebration of India’s Fastest Growing Engineering Companies underscored the sector’s depth, diversity and global ambition. Together, the conference and awards signalled a confident step forward in building a more competitive and future-ready manufacturing ecosystem.
Smart Manufacturing & Enterprises
SME Conference & Awards 2026
India’s Top 100 Engineering Companies
India's Fastest Growing Engineering Firms
Future Factory Expo 2026
SME awards for Fastest Growing Engineering companies
Indian Manufacturing Growth
National Stock Exchange
SME Financing and TReDS
Digital Transformation in Industry
NSE SME Platform
Wipro Infrastructure Engineering; CareEdge Ratings; Godrej Enterprises Group; Walvoil Fluid Power India; Avalon Consulting; Mitsubishi Elect
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