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Nifty India Defence P/E ratio today

Price to earnings (P/E), price to book (P/B) and dividend yield for the Nifty India Defence, which is currently slightly expensive — the 73rd percentile of 1,177 daily closes since 2022. Close of 27 Oct 2026.

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How the Nifty India Defence’s valuation reads today

Against the market. The Nifty India Defence trades at 2.88× the Nifty 50’s P/E, against a median of 2.19× across 1,177 days they were both priced — a wider premium than usual. A sector can look dear on its own numbers while being cheap against the market, and that gap is usually the more useful of the two.
The range it has actually traded in. Its P/E has been as low as 18.85 (Feb 2022) and as high as 73.36 (Jul 2024). Both ends are real closes, not a model — and the high end of an index P/E is usually an earnings collapse rather than a price melt-up, which is why the bands below are percentiles and not a mean.
Versus a year ago. 54.89 today, down from 56.10 a year ago. The ratio moves on price and on earnings, so a falling P/E can mean the index got cheaper or that its constituents earned more — the Nifty India Defence level itself is what separates the two.

Price to earnings

54.89Slightly expensive

73rd percentile of 1,177 days · median 47.47

Price to book

10.31Fairly valued

47th percentile of 1,177 days · median 10.48

Dividend yield

0.53%Slightly expensive

34th percentile of 1,177 days · median 0.57

Where the Nifty India Defence P/E ratio sits today

Valuation zones for the Nifty India Defence price to earnings
Zone	P/E range	What it has meant
Undervalued	below 23.00	Historically cheap — the zone that has rewarded adding, not waiting.
Fairly valued	23.00 – 47.47	Nothing to act on. Keep SIPs running at their normal size.
Slightly expensiveyou are here	47.47 – 58.78	Above the historical middle. Stagger a lump sum rather than timing it.
Expensive	above 58.78	Historically dear — rebalancing to your target allocation is the honest response.

Bands are the 10th and 90th percentiles of 1,177 daily closes, with the median as the middle line — so the cheapest and dearest tenth of this index’s own history bound the outer zones, and one freak print cannot move them. They describe where this index has traded, not where it should — a market can stay expensive for years, and this is not a signal to act on.

When the Nifty India Defence P/E was here, what came next

For every month-end since 31 Jan 2022: the index’s annualised return over the following 1, 3 and 5 years, grouped by the valuation zone it started in. Median, with the worst and best start underneath.

Forward returns of the Nifty India Defence by starting P/E zone
Started in	Next 1Y	Next 3Y	Next 5Y
Undervalued	too few	too few	too few
Fairly valued	+89.2% +15.3% to +175.6% 0% lost money	+54.8% +40.8% to +66.3% 0% lost money	too few
Slightly expensiveyou are here	+25.9% +7.0% to +37.9% 0% lost money	too few	too few
Expensive	too few	too few	too few

Price return only (index levels carry no dividends, so each figure understates an investor’s return by about the dividend yield). Start months overlap: a 5-year window spans 60 of them, so the counts are not independent observations. A zone needs 12 starts before it is summarised. The past spread of outcomes is wide in every zone — this is a record, not a forecast.

All three, since 2022

Each cell is the median of that month’s daily closes — one day’s print can be an earnings-revision artefact, and on a grid this size that day would colour the whole month. Hover a cell for the trading-day count behind it, or the line above it for any day’s close. All three are always shown; the buttons at the top only change which metric the valuation zones describe.

Nifty India Defence P/E ratio, month by month

90th pct 58.78median 47.4710th pct 23.00

Price to earnings by month, 2022 to 2026, as the median of each month’s daily closes
Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2022	23.20	21.11	21.22	23.68	20.15	20.34	20.56	23.30	25.48	27.26	27.35	26.82
2023	25.80	23.95	23.80	26.02	27.91	31.73	34.67	35.32	37.80	37.22	37.72	42.79
2024	46.82	45.15	46.77	52.26	57.23	62.01	68.16	58.67	55.53	52.64	49.79	52.85
2025	48.10	41.18	42.11	48.42	58.18	63.34	58.63	53.57	54.79	55.97	54.97	51.53
2026	52.31	52.16	51.52	55.28	56.62	56.73	56.73	58.85	57.16	56.84	·	·

cheapestdearest· shaded by rank among all 58 months, not by absolute value — the series is skewed enough that a linear ramp would flatten a decade into one colour

Nifty India Defence P/B ratio, month by month

90th pct 14.48median 10.4810th pct 4.68

Price to book by month, 2022 to 2026, as the median of each month’s daily closes
Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2022	3.92	3.75	3.87	4.65	4.41	4.43	4.43	5.38	5.56	5.78	6.07	6.05
2023	5.73	5.50	5.49	5.98	6.32	7.12	7.78	7.89	7.80	7.77	8.23	9.36
2024	10.21	10.31	10.88	12.14	13.10	16.64	18.38	16.56	14.33	12.80	12.41	12.78
2025	11.56	10.23	10.50	11.59	14.09	15.57	14.48	11.95	11.55	10.87	10.87	10.29
2026	10.45	10.71	10.69	11.61	12.12	12.15	12.45	11.72	10.94	10.70	·	·

cheapestdearest

Nifty India Defence dividend yield, month by monthgreen is a HIGH yield, which is the cheap end

90th pct 1.36median 0.5710th pct 0.46

Dividend yield by month, 2022 to 2026, as the median of each month’s daily closes
Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2022	1.34	1.41	1.59	1.40	1.52	1.52	1.50	1.33	1.21	1.11	1.07	1.17
2023	1.18	1.21	1.04	1.11	1.05	0.92	0.85	0.81	0.80	0.82	0.78	0.62
2024	0.57	0.61	0.65	0.57	0.52	0.40	0.37	0.42	0.46	0.50	0.55	0.49
2025	0.54	0.59	0.61	0.54	0.46	0.41	0.46	0.51	0.50	0.51	0.50	0.53
2026	0.52	0.54	0.61	0.55	0.52	0.52	0.53	0.52	0.50	0.51	·	·

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From the blog

Frequently asked questions

What is the Nifty India Defence P/E ratio today?

The Nifty India Defence closed at a price-to-earnings ratio of 54.89 on 27 October 2026. NSE publishes it once a day after the close, on a consolidated trailing-twelve-month basis, so it moves on the index and on quarterly earnings revisions — there is no intraday figure.

Is the Nifty India Defence overvalued right now?

Against its own history it is slightly expensive: a P/E of 54.89 is the 73rd percentile of 1,177 daily closes, against a median of 47.47 over that span. That describes where this index has traded, not where it should — a market can stay expensive for years, and this is not a signal to act on.

What is a good P/E ratio for the Nifty India Defence?

There is no single good number, but there is a measured middle: 23.00 to 58.78 is the middle 80% of 1,177 daily closes, and the median sits at 47.47. Below 23.00 is the cheapest tenth of this index's own history and above 58.78 the dearest tenth. Compare it to the index's own past rather than to another market's — earnings mix and growth differ, so an Indian P/E and a US one are not the same quantity.

What is the Nifty India Defence P/B ratio?

The Nifty India Defence price-to-book ratio is 10.31 as of 27 October 2026, against a historical median of 10.48. P/B compares the index to the book value of its constituents' assets, which makes it the steadier of the two — book value does not swing on one quarter's earnings the way a P/E denominator can.

What is the Nifty India Defence dividend yield?

The Nifty India Defence dividend yield is 0.53% as of 27 October 2026, against a historical median of 0.57%. It reads backwards from the other two: a HIGH yield is the cheap end, because the same dividends are being bought for a lower price.

How often does this page update, and where do the numbers come from?

From NSE's own daily index file, which carries P/E, P/B and dividend yield for every index it prices — 144 of them have a meaningful P/E today. It is published once after each close and picked up by the hourly refresh, so the figures here are the last published close, never a live quote.