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India’s CNC Boom Puts Jyoti and Macpower Stocks to Watch
CNC machines are computer-controlled tools that make very precise metal parts.
These parts are used in aircraft, missiles, engines, vehicles and other defence equipment.
India is trying to manufacture more aerospace and defence products inside the country.
This could increase demand for advanced CNC machines.
Jyoti CNC Automation is the larger of the two companies discussed and has a bigger aerospace and defence order book.
Macpower CNC Machines is expanding its defence business and focusing more on expensive, specialized machines.
Both companies are increasing production capacity to meet possible future demand.
However, investors still need to watch whether new capacity and bids actually become sales, and whether the companies’ high valuations are justified.
India’s machine-tool market is projected to grow from US$1.8 billion to US$3.5 billion, or about ₹33,600 crore, by 2034.
Jyoti CNC Automation had a ₹4,848 crore order book as of 30 June 2026, with aerospace and defence accounting for 38%.
Jyoti CNC is expanding annual domestic capacity from 6,000 to 16,000 machines and targets 25–30% revenue growth in FY27.
Macpower CNC Machines had a ₹456 crore order book and ₹1,042.9 crore in active bids, including ₹304 crore from defence and aerospace.
Both companies face execution and valuation risks, while Jyoti also faces an investigation involving its French subsidiary Huron.
- Who
- Jyoti CNC Automation and Macpower CNC Machines, Indian manufacturers of CNC machine tools.
- What
- The companies are expanding their aerospace and defence businesses amid rising demand for precision manufacturing equipment.
- Where
- India, with the companies also serving customers and facilities in other countries.
- When
- The article uses Q1FY27 results and order-book data as of 30 June 2026, with market projections extending to 2034.
- Why
- Domestic aerospace and defence manufacturing, import substitution and more complex components are expected to increase demand for CNC machines.
Key facts
- Projected machine-tool market
- US$1.8 billion to US$3.5 billion, approximately ₹33,600 crore, by 2034
- Jyoti CNC order book
- ₹4,848 crore as of 30 June 2026
- Jyoti CNC capacity
- Expected to rise from 6,000 to 16,000 machines annually in India
- Macpower order book
- ₹456 crore as of 30 June 2026
- Macpower active bids
- ₹1,042.9 crore, including ₹304 crore in defence and aerospace
- Q1FY27 revenue growth
- Jyoti CNC: 24% year-on-year; Macpower: 56.1% year-on-year
- Key risks
- Capacity execution, conversion of bids into orders, premium valuations and the Huron investigation involving Jyoti CNC










