CIRCULAR

SEBI/HO/DDHS/P/CIR/2021/031 March 22, 2022

To,

Issuers who have listed and/ or propose to list debt securities;

Recognised Stock Exchanges;
Registered Depositories;
Registered Credit Rating Agencies, Debenture Trustees,
Electronic Book Providers

Madam/ Sir,

Sub: Standardisation of industry classification - Revision in Chapter - XIV of

Operational Circular for issue and listing of Non-convertible Securities,
Securitised Debt Instruments, Security Receipts, Municipal Debt Securities
and Commercial Paper

1. Chapter - XIV of the Operational Circular no. SEBI/HO/DDHS/P/CIR/2021/613 dated

August 10, 2021, issued by SEBI, stipulates provisions mandating stock exchanges
and depositories to jointly create, host and maintain a Centralized Database of
corporate bonds, held in demat form. Annex - XIV - A to the said chapter, inter-alia,
provides the list of data fields to be submitted by the issuer to depositories, at the time
of allotting the ISIN.

2. The Market Data Advisory Committee (MDAC), a standing committee constituted by

SEBI, comprising of representatives from stock exchanges, depositories and other
market participants, examined the existing industry classification structures, across
sectors, and developed a revised harmonised four level industry classification
framework for adoption by all stakeholders and for all relevant processes/ purposes in
Indian securities market. A standarised framework will help bring about uniformity in
the classifications being used across sectors as on date.

3. Accordingly, the following amendments are being made to Chapter - XIV (Centralized
Database for corporate bonds/ debentures) of the Operational Circular and annexures
thereof:

Page 1 of 2
 A. Paragraph 2.2 b) shall stand modified as follows:

“Post listing of securities, issuer shall submit information in the requisite fields as provided
in Annex - XIV-B to any of the stock exchanges where their securities are listed on a
periodical basis (within 30 days from the end of the financial year) and/ or ‘as and when’
basis (event based), as applicable. The stock exchange shall indicate the format of filing
to the issuers in this regard.”

B. Clause 8. b) (Type of Issuer - Based on nature of business) of paragraph B. (Issuer/

instrument classification) of Annex - XIV - A shall be deleted.

C. Clause 9 (Based on sector of business) of Annex - XIV - A shall be replaced with

the table given in the Annex to this circular.

4. The provisions of this circular shall be applicable to all issuances of debt securities,
which open, on or after April 1, 2022.

5. The Circular is issued in exercise of the powers conferred under Section 11(1) of the
Securities and Exchange Board of India Act, 1992 read with Regulation 55 (1) of the
SEBI (Issue and Listing of Non-convertible Securities) Regulations, 2021 to protect
the interest of investors in securities and to promote the development of, and to
regulate the securities market.

6. This Circular is available at www.sebi.gov.in under the link “LegalCirculars”.

Yours faithfully,

Pradeep Ramakrishnan
General Manager
Department of Debt and Hybrid Securities
+91-22-26449246
pradeepr@sebi.gov.in

Page 2 of 2
 Annex

“9. Based on sector of business (relevant option may be selected) (√)):

Macro- Basic
MES Sect Ind Basic
Economi Sector Industry Ind Definition
Code Code Code Industry
c Sector Code
IN01 Commodit IN0101 Chemicals IN010 Chemicals & IN01010 Commodity Manufacturers of basic and
ies 101 Petrochemicals 1001 Chemicals industrial chemicals like synthetic
fibres, films, organic and
inorganic chemicals etc.
IN01010 Specialty Manufacturers of chemicals used
1002 Chemicals in the manufacture of a variety of
products, like fine chemicals,
additives, advanced polymers,
explosives, adhesives, printing
inks, sealants, dyes, pigments,
coatings etc.
IN01010 Carbon Black Manufacturers of carbon black
1003
IN01010 Dyes And Manufacturer, supplier and
1004 Pigments distributor of dyes and pigments
IN01010 Explosives Manufacturer, supplier and
1005 exporter of commercial
explosives and explosive
accessories
IN01010 Petrochemical Manufacturer, supplier and
1006 s distributor of petrochemical
products like propylene oxide,
propylene glycols and polyols
etc. Also includes manufacturers
of nylon, polyester and acrylic
fibres, plastics (not covered
under Plastic Products -
Consumer under Consumer
Discretionary and Plastic
Products - Industrial under
Manufacturing) etc.
IN01010 Printing Inks Manufacturers and distributor of
1007 printing inks and allied material
IN01010 Trading - Trading companies and
1008 Chemicals distributors of chemicals
IN01010 Industrial Producer or supplier of industrial
1009 Gases gases
IN010 Fertilizers & IN01010 Fertilizers Manufacturers of fertilizers
102 Agrochemicals 2001
IN01010 Pesticides & Manufacturers of agrochemicals
2002 Agrochemicals and pesticides
IN0102 Constructi IN010 Cement & IN01020 Cement & Manufacturer, supplier and
on 203 Cement 3001 Cement distributor of cement, cement
Materials Products Products products
IN010 Other IN01020 Other Other construction material such
204 Construction 4001 Construction supplier of sand etc. It excludes
Materials Materials companies dealing with granites,
marbles, etc. which are classified
as 'Furniture, Home Furnishing,
Flooring' under Consumer
Discretionary
IN0103 Metals & IN010 Ferrous Metals IN01030 Ferro & Silica Manufacturers and distributor of
Mining 301 1001 Manganese ferro silico manganese like ferro
alloys, briquette, fly ash bricks
etc.
IN01030 Pig Iron Manufacturers and distributor of
1002 pig iron
IN01030 Sponge Iron Manufacturers and distributor of
1003 sponge iron
IN01030 Iron & Steel Manufacturers of Iron & steel
1004
IN010 Non - Ferrous IN01030 Aluminium Mining, processing,
302 Metals 2001 manufacturing and distributing
the aluminium
IN01030 Copper Producer and distributor of
2002 copper
IN01030 Zinc Producer and distributor of zinc
2003
IN01030 Precious Mining, manufacturing and
2004 Metals distributing precious materials
like gold, silver, platinum etc.
 Macro- Basic
MES Sect Ind Basic
Economi Sector Industry Ind Definition
Code Code Code Industry
c Sector Code
Includes investment trusts where
underlying is gold or similar
precious metals
IN010 Diversified IN01030 Diversified Companies engaged in
303 Metals 3001 Metals manufacturing and mining of
diversified metals
IN010 Minerals & IN01030 Industrial Mining, producing and
304 Mining 4001 Minerals distributing industrial materials
(excluding Coal which has been
classified under 'Energy')
IN010 Metals & IN01030 Trading - Trading companies and
305 Minerals Trading 5001 Metals distributors of metals (excluding
precious metals)
IN01030 Trading - Trading companies and
5002 Minerals distributors of industrial minerals
(excluding Coal trading which
has been classified under
'Energy')
IN0104 Forest IN010 Paper, Forest & IN01040 Paper & Paper Manufacturers of paper, paper
Materials 401 Jute Products 1001 Products boards etc.
IN01040 Forest Companies dealing with Timber,
1002 Products Wood, Soil, Pulp, Firewood,
Cork, Shellac, Cross Laminated
Timber excluding plywood and
laminates which is classified as
'Furniture, Home Furnishing,
Flooring' under Consumer
Discretionary
IN01040 Jute & Jute Manufacturers of jute and jute
1003 Products products
IN02 Consumer IN0201 Automobil IN020 Automobiles IN02010 Passenger Manufacturer of passenger /utility
Discretion e and Auto 101 1001 Cars & Utility vehicles including car, bus, taxis,
ary Compone Vehicles auto rickshaws etc.
nts
IN02010 2/3 Wheelers Manufacturers of motorcycles,
1002 scooters, three-wheelers and
bicycles
IN02010 Trading - Trading and distribution of
1003 Automobiles passenger cars, utility vehicles,
2/3 wheelers
IN020 Auto IN02010 Auto Manufacturers and distributors of
102 Components 2001 Components & accessories for automobiles
Equipments
IN02010 Batteries - Manufacturer of automobiles
2002 Automobile batteries
IN02010 Fastener Manufacturer of fastener for
2003 vehicles
IN02010 Gas Cylinders Manufacturer of gas cylinders for
2004 automobile
IN02010 Trading - Auto Trading and distribution of auto
2005 Ancillaries components
IN02010 Tyres & Manufacturers and distributors of
2006 Rubber tyres and rubber products for
Products automobile
IN0202 Consumer IN020 Consumer IN02020 Air Conditioner Manufacturers and distributors of
Durables 201 Durables 1001 air conditioners
IN02020 Cycles Manufacturers and distributors of
1002 bicycles and tricycles
IN02020 Consumer Manufacturers and distributor of
1003 Electronics consumer electronics like
television, video cassette
recorder, DVD player, audio
equipments, games etc.
IN02020 Furniture, Manufacturers and distributor of
1004 Home furniture, carpets, ceramic tiles,
Furnishing, granite, marble etc.
Flooring
IN02020 Gems, Manufacturers and distributor of
1005 Jewellery And gems, jewellery, watches and
Watches other luxury goods and
accessories
IN02020 Glass - Manufacturers and distributor of
1006 Consumer consumer glass products
IN02020 Household Manufacturers of electric
1007 Appliances household appliances like
 Macro- Basic
MES Sect Ind Basic
Economi Sector Industry Ind Definition
Code Code Code Industry
c Sector Code
juicers, food processors,
microwave ovens etc.
IN02020 Houseware Manufacturers and distributors of
1008 other household durable
products like cookware, cutlery,
utensils and consumer
specialties not classified
otherwise
IN02020 Leather And Manufacturers and distributors of
1009 Leather leather products such as belt,
Products leather bags, all types of
footwear etc.
IN02020 Leisure Manufacturers of leisure
1010 Products products and equipment
including sports equipment, gift
articles etc.
IN02020 Plastic Manufacturers and distributor of
1011 Products - plastic products used in
Consumer households such as suitcase,
briefcase and other consumer
plastic products not covered
under 'Houseware' above
IN02020 Plywood Manufacturers and distributor of
1012 Boards/ plywood, laminates etc.
Laminates
IN02020 Sanitary Ware Manufacturer of sanitary ware
1013 like ceramic plumbing fixtures (as
sinks, lavatories, or toilet bowls)
IN02020 Toys Manufacturers and distributors of
1014 toys, games etc
IN02020 Paints Manufacturers and distributors of
1015 interior and exterior paints
IN02020 Diversified Any other consumer products not
1016 Consumer covered above
Products
IN0203 Textiles IN020 Textiles & IN02030 Garments & Manufacturers & distributors of
301 Apparels 1001 Apparels apparels/ garments
IN02030 Other Textile Manufacturers & distributors of
1002 Products textiles, fabrics, yarn, silk yarn,
blended and texturized yarn and
related products
IN02030 Trading - Trading and Distribution of
1003 Textile 'garments & apparels' and 'other
Products textile products' where a revenue
from each segment cannot be
determined separately
IN0204 Media, IN020 Media IN02040 Advertising & Companies providing
Entertain 401 1001 Media advertising, public relations and
ment & Agencies marketing services. It also
Publicatio includes billboard providers and
n telemarketers.

IN02040 Electronic Publisher of newspapers,

1002 Media magazines and other periodicals
through electronic medium

IN02040 Web based Companies engaged in providing

1003 media and social media, search engines,
service platforms for networking etc.
Excludes companies operating in
online shopping classified under
E-Retail/ E-Commerce and
companies providing online
directory of suppliers and
potential buyers for various
products/ merchandise classified
under Internet & Catalogue Retail
IN02040 Print Media Publisher of newspapers,
1004 magazines and other periodicals
through print medium
 Macro- Basic
MES Sect Ind Basic
Economi Sector Industry Ind Definition
Code Code Code Industry
c Sector Code
IN020 Entertainment IN02040 Film Producers and distributors of
402 2001 Production, movies. Includes theatres and
Distribution & auditoriums
Exhibition
IN02040 Digital Producers and distributors of
2002 Entertainment movies and other entertainment
related contents through digital,
Over the Top (OTT) platform.
IN02040 Media & Producers and distributors of
2003 Entertainment entertainment products and
services. It includes companies
engaged in the production,
distribution and screening of
television shows, producers and
distributors of music and sports
teams. It excludes production
and distribution of movies which
is classified under 'Film
Production, Distribution &
Exhibition'.
IN02040 TV Owners of TV channels, includes
2004 Broadcasting broadcasting of TV shows and
& Software cable TV operators and DTH
Production service providers
IN020 Printing & IN02040 Printing & Companies providing service of
403 Publication 3001 Publication commercial printing, publication
of books, commercial documents
etc,
IN0205 Realty IN020 Realty IN02050 Residential, Companies engaged in
501 1001 Commercial development and construction of
Projects residential/ commercial (offices/
shops etc.) properties
IN02050 Real Estate Companies engaged in providing
1002 related real estate related services like
services real estate agents.
IN02050 Real Estate Companies or Trusts engaged in
1003 Investment ownership, acquisition,
Trusts (REITs) development, management and
operation of real estate
IN0206 Consumer IN020 Leisure Services IN02060 Hotels & Owners and operators of hotels,
Services 601 1001 Resorts resorts etc. Includes investment
trusts where underlying is 'Hotels
and Resorts'
IN02060 Restaurants Owners and operators of
1002 restaurants, recreation clubs,
bars, coffee shops, fast-food,
catering service etc.
IN02060 Amusement Owners and operators of
1003 Parks/ Other amusement parks, Casinos and
Recreation other recreation facilities not
covered above
IN02060 Wellness Owners and operators of
1004 wellness facilities such as
gymnasium, yoga centre, beauty
parlours, salons etc.
IN02060 Tour, Travel Companies engaged into
1005 Related provision of tour, travel related
Services services. It includes tour
operators, ticketing, visa
processing, hotel and vehicle
booking etc. It includes
companies that provide such
service through digital medium
IN020 Other Consumer IN02060 Education Any stream of education
602 Services 2001 (including IT education or any
specialized training) provided in
classroom
IN02060 E-Learning Any stream of education
2002 (including IT education or any
specialized training) provided
through medium other than
classroom
IN02060 Food Storage Companies engaged in providing
2003 Facilities food storage facility
 Macro- Basic
MES Sect Ind Basic
Economi Sector Industry Ind Definition
Code Code Code Industry
c Sector Code
IN02060 Other Companies providing other
2004 Consumer consumer services not classified
Services elsewhere. It includes event
managers, security services,
housekeeping services etc.
IN020 Retailing IN02060 Speciality Owners and operators of retail
603 3001 Retail store comprising a single class of
goods such as apparels,
electronics, stationary etc.
IN02060 Pharmacy Companies engaged in sale of
3002 Retail pharmaceutical, provision of
health related products and
services through electronic
medium
IN02060 Diversified Owners and operators of stores
3003 Retail offering multiple range of product
categories (department stores)
IN02060 E-Retail/ E- Companies that earns significant
3004 Commerce revenue from provision of
products or services
predominantly through electronic
medium such as internet.
IN02060 Internet & Companies providing online
3005 Catalogue directory of suppliers and
Retail potential buyers for various
products/ merchandise
IN02060 Distributors Distributors and wholesalers of
3006 general merchandise not
classified elsewhere
IN03 Energy IN0301 Oil, Gas & IN030 Gas IN03010 Gas Companies engaged in
Consuma 101 1001 Transmission/ marketing and/ or transportation
ble Fuels Marketing of gases
IN03010 Industrial Gas Producer or supplier of industrial
1002 gases
IN03010 LPG/CNG/PN Companies engaged in
1003 G/LNG distribution of LPG, CNG, PNG
Supplier and LNG
IN03010 Trading - Gas Companies engaged in the
1004 activity of trading in gas
IN030 Oil IN03010 Oil Exploration Companies engaged in the
102 2001 & Production exploration and production of oil
IN03010 Offshore Companies providing offshore
2002 Support drilling services to oil companies
Solution
Drilling
IN03010 Oil Storage & Companies engaged in providing
2003 Transportation storage and transportation facility
for oil companies
IN03010 Oil Equipment Manufacturers of equipment for
2004 & Services and providers of services to the
oil and gas industry
IN030 Petroleum IN03010 Refineries & Companies engaged in the
103 Products 3001 Marketing refining and marketing of oil, gas
and petroleum products
IN03010 Lubricants Manufacturers and distributors of
3002 lubricants
IN030 Consumable IN03010 Coal Companies engaged in
104 Fuels 4001 exploration, mining, trading and
distribution of coal, coke and
lignite
IN04 Fast IN0401 Fast IN040 Agricultural Food IN04010 Edible Oil Producers and distributors of
Moving Moving 101 & other Products 1001 edible oil
Consumer Consumer
Goods Goods
IN04010 Sugar Producers and distributors of
1002 sugar and allied products
IN04010 Tea & Coffee Producers and distributors of tea
1003 and coffee
IN04010 Other Producers and distributors of
1004 Agricultural agricultural products not
Products classified elsewhere
IN040 Beverages IN04010 Breweries & Manufacturers of alcoholic
102 2001 Distilleries beverages. Includes distillers
IN04010 Other Manufacturers of non-alcoholic
2002 Beverages beverages
 Macro- Basic
MES Sect Ind Basic
Economi Sector Industry Ind Definition
Code Code Code Industry
c Sector Code
IN040 Cigarettes & IN04010 Cigarettes & Manufacturers and distributors of
103 Tobacco 3001 Tobacco cigarettes and other tobacco
Products Products products
IN040 Food Products IN04010 Animal Feed Manufacturers and distributors of
104 4001 animal feed
IN04010 Dairy Products Producers and distributors of
4002 dairy products
IN04010 Other Food Producers and distributors of
4003 Products other food products not classified
elsewhere
IN04010 Packaged Producers & distributors of
4004 Foods packaged foods including
biscuits, chocolates, chips etc.
IN040 Personal IN04010 Personal Care Manufacturers and distributors of
105 Products 5001 personal products such as tooth
paste, shampoo, perfume,
cosmetics etc.
IN040 Household IN04010 Household Manufacturers and distributors of
106 Products 6001 Products household products such as
aluminium foils, detergents,
matchstick, paper tissues, soaps
etc.
IN04010 Batteries Manufacturers and distributors of
6002 batteries used in home
appliances. Excludes
automobiles batteries classified
under 'Consumer Discretionary'
IN04010 Photographic Manufacturers and distributors of
6003 Products photographic products
IN04010 Stationary Manufacturers and distributors of
6004 stationary such as pen, pencil,
notebooks etc.
IN040 Diversified IN04010 Diversified Companies engaged into
107 FMCG 7001 FMCG multiple FMCG products, where
no single business segment
contributes more than 50% of
companies' total revenue and two
or more segments each
contributes at least 20% of total
revenue
IN05 Financial IN0501 Financial IN050 Finance IN05010 Financial Financial Institutions as defined
Services Services 101 1001 Institution under Section 4(1) of the
Companies Act, 1956
IN05010 Housing Companies providing loan for
1002 Finance buying housing and commercial
Company properties
IN05010 Investment Companies which earn major
1003 Company revenue from interest, capital
appreciation from investments
made. It does not include rental
income which is classified under
'Diversified Commercial
Services'
IN05010 Non-Banking Non-Banking Financial Company
1004 Financial (NBFC) as may be specified by
Company the Reserve Bank of India (RBI)
(NBFC)
IN05010 Other Companies providing financial
1005 Financial services not covered elsewhere
Services under 'Financial Services'
IN05010 Holding Holding companies with holding
1006 Company of 51% or more in other company
IN050 Banks IN05010 Public Sector Banks sponsored by Central or
102 2001 Bank State government in India
categorized as public sector bank
by Reserve Bank of India (RBI)
IN05010 Private Sector Banks categorized as private
2002 Bank sector banks by Reserve Bank of
India (RBI)
IN05010 Other Bank Other banks not classified under
2003 Public Sector Bank and Private
Sector Bank above. Includes
foreign banks, payment banks,
small banks etc.
 Macro- Basic
MES Sect Ind Basic
Economi Sector Industry Ind Definition
Code Code Code Industry
c Sector Code
IN050 Capital Markets IN05010 Asset Companies engaged in mutual
103 3001 Management fund activities i.e. companies
Company operating mutual funds, open-
end mutual funds, closed-end
mutual funds etc.
IN05010 Depositories, Companies providing depository
3002 Clearing services. Includes clearing
Houses and houses/ clearing corporations,
Other registrar/ share transfer agents,
Intermediaries custodians etc. which are not
covered elsewhere under
'Capital Markets'
IN05010 Financial Companies engaged into
3003 Products distribution of financial products
Distributor
IN05010 Ratings Companies providing ratings
3004 service
IN05010 Exchange and Companies providing platform for
3005 Data Platform trading of equity, commodity,
currency, fixed income securities,
power etc. are classified under
'Exchange Platform'.
Companies providing data
vending/ data dissemination are
classified under 'Data Platform'
IN05010 Stockbroking Companies engaged in providing
3006 & Allied brokerage services and other
allied activities such as
investment advisory services etc.
IN05010 Other Capital Other Capital Market related
3007 Market related Services not classified elsewhere
Services above
IN050 Insurance IN05010 General Companies providing general
104 4001 Insurance insurance
IN05010 Life Insurance Companies providing life
4002 insurance
IN05010 Other Insurance companies offering
4003 Insurance multiple line of insurance such as
Companies life insurance, general insurance,
medical insurance, etc.
IN05010 Insurance Companies engaged into
4004 Distributors distribution of insurance products
IN050 Financial IN05010 Financial Fintechs providing services like
105 Technology 5001 Technology banking, payment processing,
(Fintech) (Fintech) brokerage, aggregation and
distribution of financial products
and services
IN06 Healthcar IN0601 Healthcar IN060 Pharmaceuticals IN06010 Pharmaceutic Manufacturers and distributors of
e e 101 & Biotechnology 1001 als pharmaceuticals and companies
engaged in research &
development of pharmaceuticals
IN06010 Biotechnology Companies engaged in the
1002 development, manufacturing or
marketing and distribution of
products based on biotechnology
IN060 Healthcare IN06010 Medical Manufacturers and distributors of
102 Equipment & 2001 Equipment & medical equipments such as
Supplies Supplies blood pressure monitoring
machine, X-Ray machines, MRI
scanners, and supplies such as
injection needles, syringe, gloves
etc.
IN060 Healthcare IN06010 Hospital Owners and operators of health
103 Services 3001 care facilities. It includes
hospitals, nursing homes and
veterinary hospitals. Includes
investment trusts where
underlying is 'Hospitals'
IN06010 Healthcare Owners and operators of
3002 Service diagnostic services such as
Provider pathological laboratories, X-Ray
and MRI scan centres, etc.
IN06010 Healthcare Companies providing healthcare
3003 Research, research and analytics related
Analytics & services
Technology
 Macro- Basic
MES Sect Ind Basic
Economi Sector Industry Ind Definition
Code Code Code Industry
c Sector Code
IN07 Industrials IN0701 Constructi IN070 Construction IN07010 Civil Companies engaged in
on 101 1001 Construction designing, construction and
maintenance of roads, bridges,
canals, dams etc. It excludes
companies engaged in
construction of residential and
commercial buildings which are
classified as 'Realty' under
'Consumer Discretionary'.
Includes investment trusts where
underlying is 'Civil Construction'
IN07010 Engineering, Companies engaged into
1002 Designing & Engineering, procurement and
Construction construction (EPC) projects
IN0702 Capital IN070 Aerospace & IN07020 Aerospace & Manufacturers of civil and military
Goods 201 Defense 1001 Defense aerospace and equipments,
defense equipments, defense
electronics and products thereof
IN070 Agricultural, IN07020 Tractors Manufacturers and distributors of
202 Commercial & 2001 tractors and other farm vehicles
Construction
Vehicles
IN07020 Commercial Manufacturers and distributors of
2002 Vehicles commercial vehicles as trucks,
dumpers etc.
IN07020 Construction Manufacturers and distributors of
2003 Vehicles construction vehicles like cranes,
bulldozers etc.
IN070 Electrical IN07020 Heavy Manufacturers and distributors of
203 Equipment 3001 Electrical power generating equipment and
Equipment other heavy electrical equipment
such as power turbines,
transmission towers, heavy
electrical machinery
IN07020 Other Manufactures and distributors of
3002 Electrical electric cables and wires and
Equipment other electrical components or
equipment not classified under
Heavy Electrical Equipment
IN070 Industrial IN07020 Elevators Manufacturer of elevators and
204 Manufacturing 4001 escalators
IN07020 Engineering & Manufacturers and distributors of
4002 Construction engineering and construction
products related products not covered
elsewhere
IN07020 Industrial Manufacturers and distributor of
4003 Electronics industrial electronics like CC TV
surveillance system, access
control system, fire alarm
System, multi-apartment video
door phones, video door phones,
intruder alarm System, fingerprint
locks, and remote managed
services etc.
IN07020 Industrial Manufacturers and distributor of
4004 Equipments industrial equipment not covered
elsewhere
IN07020 Railway Manufacturers of railway wagons
4005 Wagons and EMU coaches
IN07020 Ship Building Companies engaged in ship
4006 & Allied building and providing allied
Services services
IN07020 Industrial Manufacturers and distributors of
4007 Machinery industrial machinery not covered
elsewhere
IN070 Industrial IN07020 Abrasives Manufactures and distributors of
205 Products 5001 abrasives
IN07020 Bearings Manufactures and distributors of
5002 bearings. Excludes bearings
used for automobiles which are
classified as 'Auto Components &
Equipments' under Consumer
Discretionary
IN07020 Cables - Manufacturers and distributors of
5003 Electricals electrical cables/ wires. Excludes
telecom cables which are
 Macro- Basic
MES Sect Ind Basic
Economi Sector Industry Ind Definition
Code Code Code Industry
c Sector Code
classified as 'Telecom -
Equipment & Accessories' under
'Telecommunication'
IN07020 Castings & Manufacturers and distributors of
5004 Forgings castings and forgings. Excludes
companies generating majority
revenue from automobile
segment and they are classified
as 'Auto Components &
Equipments' classified under
'Consumer Discretionary'
IN07020 Compressors Manufacturers and distributors of
5005 & Pumps compressors and pumps
IN07020 Diesel Manufacturers and distributors of
5006 Engines diesel engines. Excludes engines
used for automobiles which are
classified as 'Auto Components &
Equipments' under Consumer
Discretionary
IN07020 Electrodes Manufacturers and distributors of
5007 electrodes
IN07020 Packaging Manufacturers and distributors of
5008 packaging materials such as
cardboard, bags, boxes, cans,
drums, bottles and jars and glass
IN07020 Plastic Manufacturers and distributors of
5009 Products - industrial plastic products such
Industrial as plastic pipes etc.
IN07020 Refractories Manufacturers and distributors of
5010 refractories
IN07020 Rubber Manufacturers and distributors of
5011 rubber and rubber products.
Excludes companies classified
as 'Tyres & Rubber Products'
under 'Consumer Discretionary'
IN07020 Other Manufacturers and distributors of
5012 Industrial other industrial products not
Products classified elsewhere
IN07020 Glass - Manufacturers and distributors of
5013 Industrial industrial glasses. It excludes
consumer glass classified under
'Consumer Discretionary'
IN07020 Aluminium, Manufacturers and distributors of
5014 Copper & Zinc aluminium, copper and zinc
Products products
IN07020 Iron & Steel Manufacturers and distributors of
5015 Products iron and steel products
IN08 Informatio IN0801 Informatio IN080 IT - Software IN08010 Computers - Companies engaged in software
n n 101 1001 Software & development, IT consulting and
Technolog Technolog Consulting data analytics
y y
IN08010 Software Companies engaged in
1002 Products development of software
products that can be commonly
used by individuals and
corporates
IN080 IT - Services IN08010 IT Enabled Companies engaged in providing
102 2001 Services services for business automation
through provision of IT
infrastructure.
IN080 IT - Hardware IN08010 Computers Manufactures and distributors of
103 3001 Hardware & computer hardware and
Equipments equipments such as personal
computers, laptops, servers,
motherboards, networking
equipments, printers, photo
copiers etc.
IN09 Services IN0901 Services IN090 Engineering IN09010 Dredging Companies providing dredging
101 Services 1001 and related services
IN090 Transport IN09010 Airline Owners and operators of
102 Services 2001 commercial airlines
IN09010 Logistics Companies providing logistic
2002 Solution services, courier, movers &
Provider packers etc.
 Macro- Basic
MES Sect Ind Basic
Economi Sector Industry Ind Definition
Code Code Code Industry
c Sector Code
IN09010 Railways Companies providing passenger
2003 or cargo transportation through
railways
IN09010 Road Companies providing passenger
2004 Transport or cargo transportation through
roads
IN09010 Shipping Companies providing passenger
2005 or cargo transportation through
marine (shipping)
IN09010 Transport Other transport related service
2006 Related not covered elsewhere
Services
IN090 Transport IN09010 Airport & Owners and operators of airports
103 Infrastructure 3001 Airport and companies providing airport
services related services
IN09010 Port & Port Owners and operators of marine
3002 services ports and related services like
marine engineering services
IN09010 Toll bridge Operators of bridge, highway, toll
3003 operator bridges etc. Does not include
companies engaged into
construction of road, bridges and
highways which are classified as
'Civil Construction' under
'Manufacturing'
IN090 Commercial IN09010 Trading & Companies engaged in trading
104 Services & 4001 Distributors and distribution of goods not
Supplies covered elsewhere
IN09010 Consulting Companies engaged in providing
4002 Services consulting services
IN09010 Data Companies engaged in providing
4003 Processing commercial electronic data
Services processing services
IN09010 Diversified Companies providing
4004 Commercial commercial and consumer
Services services not classified
elsewhere. Includes,
employment and related
services, environmental services
and pollution control services,
other security services, renting
and leasing services, trade and
commission agent services etc.
IN09010 Business Companies engaged in providing
4005 Process Business Process Outsourcing
Outsourcing (BPO)/ Knowledge Process
(BPO)/ Outsourcing (KPO) services
Knowledge
Process
Outsourcing
(KPO)
IN10 Telecomm IN1001 Telecomm IN100 Telecom - IN10010 Telecom - Companies providing fixed line
unication unication 101 Services 1001 Cellular & and cellular telecom services
Fixed line
services
IN10010 Telecom - Companies engaged into
1002 Infrastructure provision of telecom instruments
and telecom related
infrastructure services.
IN10010 Other Telecom Companies engaged into
1003 Services provision of broad band internet
service and other telecom related
services not covered elsewhere
IN100 Telecom - IN10010 Telecom - Manufacturers and distributors of
102 Equipment & 2001 Equipment & telecom equipments, cables and
Accessories Accessories other accessories. Includes
investment trusts where
underlying is telecom equipment
such as telephone instruments
IN11 Utilities IN1101 Power IN110 Power IN11010 Electric Companies engaged into
101 1001 Utilities production and distribution of
thermal, solar, hydro and wind
power. Includes investment
trusts where underlying is power
generation and distribution
 Macro- Basic
MES Sect Ind Basic
Economi Sector Industry Ind Definition
Code Code Code Industry
c Sector Code
IN11010 Power Trading Companies engaged into trading
1002 of electricity
IN11010 Power - Companies engaged into
1003 Transmission transmission or distribution of
electricity. Includes investment
trusts where underlying is power
transmission
IN1102 Utilities IN110 Other Utilities IN11020 Water Supply Companies engaged into water
201 1001 & supply and management
Management
IN11020 Waste Companies engaged into waste
1002 Management management
IN11020 Emergency Companies engaged into
1003 Services providing emergency services
like fire brigade, flood
management etc.
IN11020 Multi Utilities Companies providing multiple
1004 lines of utilities
IN11020 Other Utilities Companies providing utilities not
1005 covered elsewhere
IN12 Diversified IN1201 Diversified IN120 Diversified IN12010 Diversified Companies engaged into
101 1001 multiple business segment,
where no single business
segment contributes more than
50% of companies' total revenue
and two or more segments each
contributes at least 20% of total
revenue