Axis India Manufacturing Fund is a Thematic fund run by Axis Mutual Fund. On 30-09-2026, it managed ₹5,540 Cr of investors' money. In the year to 30-10-2026, its Direct plan returned 8.3% and its Regular plan returned 6.9%. Its benchmark, Nifty India Manufacturing TRI, returned −1.7% over the same year.
NAV (Direct plan)
₹15.95
▼ 0.68% · 30-10-2026
NAV (Regular plan)
₹15.34
▼ 0.71% · 30-10-2026
Expense ratio
0.93%Direct2.09%Regular
0.93%
A year
Riskometer
Very High
Set by the fund house
1 year return
8.3%Direct6.9%Regular
8.3%
Total
Axis India Manufacturing Fund NAV Today
NAV on 30-10-2026: Direct Plan Growth ₹15.95 (down 0.68% that day); Regular Plan Growth ₹15.34 (down 0.71% that day).
This fund (Direct plan)
₹15.95
Axis India Manufacturing Fund Returns vs Nifty India Manufacturing TRI
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
Trailing returns
Period
1M
3M
6M
1Y
3Y
5Y
10Y
This fund (Direct)
−3.10%
−0.56%
+5.70%
+8.28%
--
--
--
This fund (Regular)
−3.16%
−0.90%
+5.07%
+6.90%
--
--
--
Nifty India Manufacturing TRI
−3.56%
−7.50%
−3.61%
−1.70%
+17.16%
+14.36%
--
Thematic average
−2.09%
−4.52%
+0.86%
−1.22%
--
--
--
Best in Thematic
+11.54%
+11.27%
+22.16%
+75.71%
--
--
--
Worst in Thematic
−16.05%
−11.74%
−13.97%
−22.44%
--
--
--
Rank in Thematic
152/235
38/232
55/232
35/215
--
--
--
Category rows compare the Direct plans of 235 Thematic funds. Rank 1 is the highest return.
Axis India Manufacturing Fund Year-wise Returns
Return of each calendar year
Year
Direct
Regular
Nifty India Manufacturing TRI
2026to date
+9.70%
+8.49%
−2.54%
2025
+5.06%
+3.74%
+12.28%
2024
+35.55%
+33.50%
+25.99%
Axis India Manufacturing Fund Rolling Returns
The return of every holding period in the fund's history, not only the one that ends today
Rolling returns
Each point is the yearly return of one 1-year holding period, plotted on the day it ended. There are 460 periods, one for each trading day from 27-12-2024 to 30-10-2026.
−10%0%10%20%30%40%
Axis India Manufacturing Fund (Direct)
Nifty India Manufacturing TRI
Feb 2024 to Feb 2025Jun 2024 to Jun 2025Oct 2024 to Oct 2025Jan 2025 to Jan 2026May 2025 to May 2026Sept 2025 to Sept 2026
Axis India Manufacturing Fund (Direct)Nifty India Manufacturing TRI
16%
18%
Below 0%
14%
15%
0-5%
23%
19%
5-10%
22%
24%
10-15%
14%
13%
15-20%
7%
7%
20-25%
5%
4%
Above 25%
Every holding period at a glance
Period
Periods
Median
Lowest
Highest
With a loss
Benchmark median
Beat benchmark
1 year
460
9.5%
−5.5%
37.7%
16%
9.4%
58%
2 years
209
8.7%
3.7%
20.1%
0%
7.7%
74%
Every SIP holding period at a glance
Period
Periods
Median
Lowest
Highest
With a loss
Benchmark median
Beat benchmark
1 year
23
13.3%
−21.5%
28.9%
22%
11.5%
52%
Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat benchmark" counts the periods in which the fund did better than Nifty India Manufacturing TRI over the same days. Past returns do not promise future returns.
Axis India Manufacturing Fund Risk
How much it swings, and the falls an investor had to sit through
Risk and return
Measure
Axis India Manufacturing Fund (Direct)This fund
Nifty India Manufacturing TRI
Return (CAGR)
+8.28%
−1.70%
Standard deviation
16.09%
16.02%
Sharpe ratio
0.19
-0.43
Sortino ratio
0.26
-0.58
Maximum drawdown
−10.9%
(23-10-2026)
−12.8%
(23-10-2026)
Beta
0.98
1.00
Alpha
+9.84%
0.00%
From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.
Measure
Axis India Manufacturing Fund (Direct)This fund
Nifty India Manufacturing TRI
Return (CAGR)
+17.32%
+12.45%
Standard deviation
15.99%
16.21%
Sharpe ratio
0.71
0.40
Sortino ratio
0.96
0.54
Maximum drawdown
−23.0%
(28-02-2025)
−23.0%
(07-04-2025)
Beta
0.96
1.00
Alpha
+5.12%
0.00%
From daily NAVs, 27-12-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
−25%−20%−15%−10%−5%0%
Axis India Manufacturing Fund (Direct)
Nifty India Manufacturing TRI
202420252026
Axis India Manufacturing Fund (Direct)Nifty India Manufacturing TRI
Worst fall
High before it
Bottom
Back at the high
Time to climb back
Below its high today
Axis India Manufacturing Fund (Direct)
−23.0%
27-09-2024
28-02-2025
29-04-2026
14 months
−7.2%
Nifty India Manufacturing TRI
−23.0%
27-09-2024
07-04-2025
05-01-2026
9 months
−10.5%
From the Direct plan's daily NAV since 27-12-2023, adjusted for unit splits, and Nifty India Manufacturing TRI over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.
Axis India Manufacturing Fund vs Other Thematic Funds
The five Thematic funds with the best three year return, and this fund. Direct plans.
AUM is each fund's size at the end of its last reported month, from its own portfolio file. We calculate the risk ratios from daily NAVs over the last three years. The risk-free return is what NSE's overnight rate index earned over the same years. Alpha and beta compare each fund with its own benchmark's TRI. "--" means we have no figure: for alpha and beta, no daily series for that benchmark.
Axis India Manufacturing Fund Expense Ratio and Costs
What each plan charges a year, in force from 22-10-2026
Plan
Base expense ratio
Brokerage
Transaction costs
Levies and GST
Total expense ratio
Thematic median
Cost rank (1 = cheapest)
Direct
0.62%
0.07%
0.00%
0.24%
0.93%
1.18%
38/235
Regular
1.60%
0.07%
0.00%
0.42%
2.09%
2.41%
43/235
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the Thematic funds' plans of the same type are sorted from the lowest total expense ratio to the highest.
Direct vs Regular: what the gap cost
Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.
Over the last
Regular
Direct
Direct earned more by
₹1 lakh became (Regular)
₹1 lakh became (Direct)
1 year
6.90%
8.28%
1.38%
₹1,06,900
₹1,08,280
Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.
Axis India Manufacturing Fund SIP Calculator
What a one-time or monthly investment in this fund would be worth today, from its own NAV history
Growth of an investment
Step up each year
PeriodFor
₹10,000 on the first trading day of every month, from 27-12-2023 to 30-10-2026: 35 instalments, ₹3,50,000 in all.
Investment
Invested
Value now
Gain
Return a year
Direct planAxis India Manufacturing Fund (Direct)
₹3,50,000
₹4,10,965
₹60,965
11.1%
Regular planAxis India Manufacturing Fund (Regular)
Direct planAxis India Manufacturing Fund (Direct)Regular planAxis India Manufacturing Fund (Regular)Nifty India Manufacturing TRICategory averageCategory average, 235 Thematic fundsAmount invested
From each plan's published NAV (Growth option), the benchmark's TRI and the category average, over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
Axis India Manufacturing Fund Asset Allocation
Asset allocation as on 30-09-2026
What the fund holds
96.9%Equity
Asset
Fund
Category
Equity
96.9%
94.5%
Cash and others
3.1%
4.0%
Market cap of stocks
Market cap
Fund
Category
Large Cap
50.9%
45.7%
Mid Cap
19.0%
19.6%
Small Cap
22.6%
24.1%
Not on AMFI's list
4.4%
2.3%
Share of the whole fund. Category: the average of the Thematic funds that hold stocks. Groups follow AMFI's latest list, as SEBI defines them: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Axis India Manufacturing Fund Sector Allocation
Sector allocation of the fund's stocks as on 30-09-2026
Largest sectors
Auto Components15.4%
Pharmaceuticals & Biotechnology14.9%
Electrical Equipment14.5%
Automobiles14.5%
Industrial Products7.4%
Aerospace & Defense5.3%
Consumer Durables4.1%
Petroleum Products3.8%
Ferrous Metals3.6%
Non - Ferrous Metals3.6%
The ten largest of 17 sectors. The other 7 add up to 9.7%.
Sector changes
Sector
July 2026
August 2026
September 2026
Change
Auto Components
14.8%
15.3%
15.4%
+0.6%
Pharmaceuticals & Biotechnology
14.9%
15.0%
14.9%
0.0%
Electrical Equipment
12.9%
14.4%
14.5%
+1.6%
Automobiles
16.2%
15.7%
14.5%
−1.7%
Industrial Products
7.3%
8.1%
7.4%
+0.1%
Each sector's share of the fund at the end of each month. The five largest sectors of September 2026. Change: from July 2026 to September 2026, in % of the fund.
Axis India Manufacturing Fund Portfolio Holdings
As on 30-09-2026 · 73 holdings · from the fund house's monthly portfolio
Holdings
Sector
Weight%
Holdings trend
1M change
Mahindra & Mahindra Limited
Automobiles
4.82%
0.0%
Sun Pharmaceutical Industries Limited
Pharmaceuticals & Biotechnology
3.61%
0.0%
Divi's Laboratories Limited
Pharmaceuticals & Biotechnology
3.57%
0.0%
Sona BLW Precision Forgings Limited
Auto Components
3.21%
0.0%
Bharat Electronics Limited
Aerospace & Defense
2.95%
0.0%
Reliance Industries Limited
Petroleum Products
2.81%
0.0%
TVS Motor Company Limited
Automobiles
2.81%
0.0%
Bharat Heavy Electricals Limited
Electrical Equipment
2.48%
0.0%
Cummins India Limited
Industrial Products
2.39%
0.0%
Samvardhana Motherson International Limited
Auto Components
2.26%
0.0%
Hindalco Industries Limited
Non - Ferrous Metals
2.26%
0.0%
TD Power Systems Limited
Electrical Equipment
2.12%
+7.6%
Craftsman Automation Limited
Auto Components
2.11%
0.0%
Torrent Pharmaceuticals Limited
Pharmaceuticals & Biotechnology
2.11%
0.0%
Apar Industries Limited
Electrical Equipment
2.11%
0.0%
GE Vernova T&D India Limited
Electrical Equipment
2.10%
0.0%
Sansera Engineering Limited
Auto Components
2.05%
−4.9%
Ather Energy Limited
Automobiles
1.98%
0.0%
Welspun Corp Limited
Industrial Products
1.79%
0.0%
Solar Industries India Limited
Chemicals & Petrochemicals
1.78%
+19.3%
Maruti Suzuki India Limited
Automobiles
1.76%
−10.1%
Hindustan Aeronautics Limited
Aerospace & Defense
1.75%
+2.9%
Hyundai Motor India Ltd
Automobiles
1.59%
0.0%
Bajaj Auto Limited
Automobiles
1.56%
0.0%
Indo-MIM Limited
Industrial Manufacturing
1.49%
+4.3%
Tata Steel Limited
Ferrous Metals
1.46%
−17.4%
Bharat Forge Limited
Auto Components
1.44%
+2.0%
Minda Corporation Limited
Auto Components
1.41%
0.0%
UltraTech Cement Limited
Cement & Cement Products
1.37%
0.0%
Vedanta Aluminium Metal Limited
Non - Ferrous Metals
1.32%
0.0%
CG Power and Industrial Solutions Limited
Electrical Equipment
1.30%
+6.2%
Dixon Technologies (India) Limited
Consumer Durables
1.24%
0.0%
Gland Pharma Limited
Pharmaceuticals & Biotechnology
1.21%
+37.7%
Happy Forgings Limited
Industrial Products
1.20%
0.0%
Premier Energies Limited
Electrical Equipment
1.19%
0.0%
Amber Enterprises India Limited
Consumer Durables
1.08%
0.0%
JSW Steel Limited
Ferrous Metals
1.08%
−15.4%
Sai Life Sciences Limited
Pharmaceuticals & Biotechnology
1.07%
0.0%
Schaeffler India Limited
Auto Components
1.07%
0.0%
Jindal Steel Limited
Ferrous Metals
1.05%
0.0%
Bharat Petroleum Corporation Limited
Petroleum Products
1.02%
0.0%
Carborundum Universal Limited
Industrial Products
0.99%
0.0%
IPCA Laboratories Limited
Pharmaceuticals & Biotechnology
0.96%
−4.3%
ABB India Limited
Electrical Equipment
0.89%
0.0%
Laurus Labs Limited
Pharmaceuticals & Biotechnology
0.89%
−11.1%
Syrma SGS Technology Limited
Industrial Manufacturing
0.87%
−21.0%
Pidilite Industries Limited
Chemicals & Petrochemicals
0.85%
−18.5%
Blue Star Limited
Consumer Durables
0.84%
0.0%
Dhoot Transmission Ltd
Auto Components
0.81%
+5.0%
Azad Engineering Ltd
Electrical Equipment
0.79%
+3.4%
Aditya Infotech Limited
Industrial Manufacturing
0.64%
+326.6%
Radico Khaitan Limited
Beverages
0.63%
0.0%
Ashok Leyland Limited
Agricultural, Commercial & Construction Vehicles
0.62%
0.0%
Cyient Dlm Ltd
Aerospace & Defense
0.59%
+14.9%
Piramal Pharma Limited
Pharmaceuticals & Biotechnology
0.55%
0.0%
Voltas Limited
Consumer Durables
0.55%
−30.0%
Triveni Turbine Limited
Electrical Equipment
0.54%
−0.2%
Bosch Limited
Auto Components
0.53%
−16.2%
SRF Limited
Chemicals & Petrochemicals
0.52%
0.0%
Kirloskar Oil Engines Limited
Industrial Products
0.52%
0.0%
Glenmark Pharmaceuticals Limited
Pharmaceuticals & Biotechnology
0.50%
−54.7%
Tenneco Clean Air India Limited
Auto Components
0.49%
−34.1%
K.P.R. Mill Limited
Textiles & Apparels
0.44%
0.0%
MTAR Technologies Limited
Electrical Equipment
0.44%
+13.8%
PG Electroplast Limited
Consumer Durables
0.43%
0.0%
Aether Industries Limited
Chemicals & Petrochemicals
0.36%
+17.5%
Avalon Technologies Limited
Electrical Equipment
0.33%
−23.6%
Grindwell Norton Limited
Industrial Products
0.31%
−6.8%
Anthem Biosciences Limited
Pharmaceuticals & Biotechnology
0.28%
0.0%
Voltamp Transformers Limited
Electrical Equipment
0.24%
0.0%
KEI Industries Limited
Industrial Products
0.20%
−68.5%
Rubicon Research Limited
Pharmaceuticals & Biotechnology
0.19%
New
PI Industries Limited
Fertilizers & Agrochemicals
0.16%
−53.0%
Axis India Manufacturing Fund Stocks Bought and Sold
All changes are between August 2026 and September 2026
More
Stocks bought and sold in September 2026
TD Power Systems Limited
↑Added
+7.6%
2.12%
Maruti Suzuki India Limited
↓Reduced
−10.1%
1.76%
Sansera Engineering Limited
↓Reduced
−4.9%
2.05%
Solar Industries India Limited
↑Added
+19.3%
1.78%
Hindustan Aeronautics Limited
↑Added
+2.9%
1.75%
Tata Steel Limited
↓Reduced
−17.4%
1.46%
Indo-MIM Limited
↑Added
+4.3%
1.49%
Bharat Forge Limited
↑Added
+2.0%
1.44%
CG Power and Industrial Solutions Limited
↑Added
+6.2%
1.30%
JSW Steel Limited
↓Reduced
−15.4%
1.08%
Gland Pharma Limited
↑Added
+37.7%
1.21%
Pidilite Industries Limited
↓Reduced
−18.5%
0.85%
Glenmark Pharmaceuticals Limited
↓Reduced
−54.7%
0.50%
IPCA Laboratories Limited
↓Reduced
−4.3%
0.96%
Laurus Labs Limited
↓Reduced
−11.1%
0.89%
Syrma SGS Technology Limited
↓Reduced
−21.0%
0.87%
Voltas Limited
↓Reduced
−30.0%
0.55%
Dhoot Transmission Ltd
↑Added
+5.0%
0.81%
Azad Engineering Ltd
↑Added
+3.4%
0.79%
KEI Industries Limited
↓Reduced
−68.5%
0.20%
Tenneco Clean Air India Limited
↓Reduced
−34.1%
0.49%
Bosch Limited
↓Reduced
−16.2%
0.53%
Aditya Infotech Limited
↑Added
+326.6%
0.64%
Cyient Dlm Ltd
↑Added
+14.9%
0.59%
Triveni Turbine Limited
↓Reduced
−0.2%
0.54%
Supreme Industries Limited
↓Sold out
−100%
was 0.45%
MTAR Technologies Limited
↑Added
+13.8%
0.44%
Avalon Technologies Limited
↓Reduced
−23.6%
0.33%
Aether Industries Limited
↑Added
+17.5%
0.36%
PI Industries Limited
↓Reduced
−53.0%
0.16%
Grindwell Norton Limited
↓Reduced
−6.8%
0.31%
Rubicon Research Limited
↑New
New
0.19%
Asian Paints Limited
↓Sold out
−100%
was 0.09%
No stocks in this group for September 2026.
A change is counted by the number of shares the fund holds, not by price. A stock can become a smaller part of the fund in a month when the fund bought more of it, if its price fell. Debt papers are left out.
Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.
Axis India Manufacturing Fund Overview
Fund facts from the scheme summary document, as on 16-10-2026
Expense ratio (Direct)
0.93%
Expense ratio (Regular)
2.09%
Category
Thematic
Risk
Very High
Benchmark
Nifty India Manufacturing TRI
Launch date
21-12-2023
Minimum investment
₹500
Minimum additional investment
₹100
AUM
₹5,540.32 Cr (30-09-2026)
Lock in
None
Scheme code (Direct)
152202
ISIN (Direct)
INF846K016S3
Scheme code (Regular)
152205
ISIN (Regular)
INF846K013S0
NAV history
From 27-12-2023, 2.8 years
Exit load
Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 90 Days.
Tax on Axis India Manufacturing Fund returns
Axis India Manufacturing Fund is taxed as an equity fund: 65% or more of it is in Indian stocks.
Units sold within 1 year: the gain is taxed at 20%.
Units held longer: gains above ₹1.25 lakh in a financial year, across all your equity funds and shares, are taxed at 12.5%.
IDCW (dividend) payouts are added to your income and taxed at your slab rate.
A stamp duty of 0.005% is deducted when you invest.
Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.
All plans and options
Plan
Option
NAV
As on
direct
Growth
₹15.95
30-10-2026
direct
IDCW
₹15.95
30-10-2026
regular
Growth
₹15.34
30-10-2026
regular
IDCW
₹15.34
30-10-2026
About Axis India Manufacturing Fund
Axis India Manufacturing Fund is a mutual fund from Axis Mutual Fund. Its category is Thematic. It was launched on 21-12-2023. Its benchmark is Nifty India Manufacturing TRI. At the end of September 2026 it held 73 securities.
Fund Manager
Nitin Arora
Fund manager of Axis India Manufacturing Fund, since 21-12-2023
Frequently Asked Questions for Axis India Manufacturing Fund
What is the current NAV of Axis India Manufacturing Fund?
The Direct plan NAV is ₹15.95. The Regular plan NAV is ₹15.34, as on 30-10-2026.
What are the returns of Axis India Manufacturing Fund?
The Direct plan returned +8.28% in 1 year. The Regular plan returned +6.90% in 1 year. These figures are as on 30-10-2026.
What is the expense ratio of Axis India Manufacturing Fund?
The Direct plan charges 0.93% a year. The Regular plan charges 2.09% a year. This is the figure the fund house reported to AMFI, in force from 22-10-2026.
What is the AUM of Axis India Manufacturing Fund?
Axis India Manufacturing Fund managed ₹5,540.32 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.
What are the top holdings of Axis India Manufacturing Fund?
At the end of September 2026 the largest holdings were M&M (4.82%), SUNPHARMA (3.61%), DIVISLAB (3.57%), SONACOMS (3.21%), BEL (2.95%). The fund held 73 securities in all.
What did Axis India Manufacturing Fund buy and sell in September 2026?
It bought 1 new stock: Rubicon Research Limited. It sold out of 2: Asian Paints Limited, Supreme Industries Limited. It added shares in 13. It reduced 17.
How do I invest in Axis India Manufacturing Fund?
Through Axis Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least ₹500. You can invest once or through a monthly SIP.
Who is the fund manager of Axis India Manufacturing Fund?
Nitin Arora (since 21-12-2023).
Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.
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