Best CCTV Surveillance Stocks in India

#2 Honeywell Automation

Second on the list is Honeywell Automation.

Honeywell Automation India is a leading provider of integrated automation solutions, specializing in process, building, and control systems.

As a part of Honeywell International, the company leverages cutting-edge technologies to serve industries such as aerospace, chemicals, and healthcare, offering products and services that enhance operational efficiency and sustainability.

Its surveillance cameras, such as the flagship 60 Series 5MP IP cameras, offer a wide horizontal field of view of up to 113°, delivering exceptional picture clarity for both indoor and outdoor enterprise deployments.

Geographically, the company derives 60% of its revenue from the domestic market and the balance 40% from the export market.

Coming to the financials, in FY25, Honeywell Automation clocked a flat 3.2% YoY growth in revenue YoY on the back of muted demand. EBITDA however fell 0.8% with margins deteriorating slightly from 15% in FY24 to 14% in FY25.

Over the past 5 years, its sales and net profit have grown at a CAGR of 5% and 1%.

The average ROE and ROCE stand at 14% and 19%, during the same period.

With India's smart city initiatives and industrial automation demand on the rise, Honeywell Automation is well-positioned to accelerate growth beyond its recent muted performance.

Its global parentage and AI-powered surveillance portfolio give it a strong edge as enterprises increasingly upgrade to intelligent, integrated security systems.

For more details, check out Honeywell's financial factsheet.

#3 Aditya Infotech

Third on the list is Aditya Infotech.

The company runs the CP Plus brand, which is the undisputed leader in India's surveillance market. It's also the third-largest global player by volume.

Earlier, it had a 50% stake in a manufacturing joint venture with Dixon. It now owns 100% of it. In turn, Dixon held about 6.6% of Aditya Infotech.

The company primarily serves the enterprise and consumer segments, offering comprehensive CCTV cameras, network video recorders (NVRs), digital video recorders (DVRs), and pan-tilt zoom (PTZ) cameras.

Additionally, it serves as the exclusive distributor for Dahua Technology India Private Ltd., expanding its product portfolio.

It has manufacturing facilities in Kadapa with an annual capacity of 17.2 m units. The company operates through multiple channels nationwide - distributors, systems integrators, retail stores, and e-commerce platforms.

Coming to its financials, over the past 5 years, its sales and net profit have grown at a CAGR of 20% and 83%.

The average 5-year ROE and ROCE stand at 29% and 43% respectively.

Going forward, the company is working on backward integration - making its own cables, housings, power electronics, and even CCTV lenses. This helps reduce costs, build supply chain resilience, and improve control over quality.

It's also betting big on its IP-based products - a segment that's growing faster and offers higher value compared to traditional analog surveillance systems.

The company came out with its IPO last year. Here's how its share has performed since then.

#4 HFCL

Last on the list is HFCL.

HFCL (Himachal Futuristic Communications) is a key player in India's telecom infrastructure sector, known for its expertise in optical fiber cables, communication equipment, and system integration.

The company serves diverse sectors, including telecom, defence, railways, and security, with a strong portfolio of products ranging from network solutions to surveillance systems.

HFCL is engaged in several high-profile projects, including its contributions to BharatNet and its ongoing work on 5G solutions.

The company is also expanding its capabilities in defence technology, developing products like thermal weapon sights and surveillance radars.

Coming to HFCL's financials, its sales have grown at a muted grown over the past 5 years while profit growth has also been dismal.

Moving forward, however, it has strong expansion plans along with a heavy order book.

HFCL has secured export orders worth Rs 6.5 bn for the supply of optical fiber cables through its overseas wholly owned subsidiary.

It is developing global variants of Wi-Fi 6 and Wi-Fi 7 access point versions, a new 4 Gbps (gigabits per second) unlicensed band radio, variants of internet protocol and multiprotocol label switching routers, and outdoor fixed wireless access customer premises equipment.

The company expects strong demand visibility, improved margins, and long-term structural demand from the data center business.

Additionally, HFCL also sees opportunities in the water infrastructure sector in the coming financial years. This is expected to be driven by government initiatives, such as the Jal Jeevan Project.

For more details, check out HFCL's financial factsheet.

Conclusion

India's CCTV and surveillance market is expanding rapidly, driven by rising urban security concerns, government initiatives in smart cities, and increasing adoption across residential, commercial, and industrial segments.

With more such initiatives and heightened demand for advanced monitoring solutions, the CCTV industry is set for significant growth in the coming years.

All being said, investors should evaluate the company's fundamentals, corporate governance, and valuations as key factors when conducting due diligence before making investment decisions.

Happy Investing.

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