4 Largecap Stocks With Operating Margin Between 10 and 20 Per Cent to Watch for Future Multibagger Potential: Titan, UltraTech Cement, CG Power and Britannia
- October 21, 2026
- Posted by: Manan Bisht
- Category: Best Stocks
Titan Rs 4,424.20. UltraTech Cement Rs 10,650. CG Power Rs 855. Britannia Rs 4,705. Market caps from Rs 1.18 lakh crore to Rs 3.95 lakh crore. Data as of 20 Oct 2026.
Quick Answer
Titan, UltraTech Cement, CG Power and Britannia are the 4 picks in this stocks with operating margin between 10 and 20 per cent watchlist, with market caps between Rs 1.18 lakh crore and Rs 3.95 lakh crore. Titan stands out for the fastest profit growth, 23.26% a year since FY22, while UltraTech Cement offers the lowest PE of the group at 36.95. PE ratios run from 36.95 to 103.94, so compare each one with its industry PE before investing. All figures are as of 20 October 2026.
Stocks with operating margin between 10 and 20 per cent to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Titan, UltraTech Cement, CG Power and Britannia meet that test, with market caps from Rs 1.18 lakh crore to Rs 3.95 lakh crore and Titan offering the fastest profit growth, 23.26% a year since FY22. Each of these companies earned an operating margin between 10 and 20 per cent in FY26, and net profit grew by more than 15 per cent in FY26 and rose in the latest quarter.
This list covers companies with an FY26 operating margin between 10 and 20 per cent, FY26 profit growth above 15 per cent and rising profit in the latest quarter, with market capitalisation above Rs 1,00,000 crore. Each company has a market cap above Rs 1 lakh crore. Investors screening stocks with operating margin between 10 and 20 per cent usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 20 October 2026 and are drawn from NSE and BSE data and company filings.
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What Are Stocks With Operating Margin Between 10 and 20 Per Cent and Why Do They Attract Multibagger Interest?
Stocks with operating margin between 10 and 20 per cent are shares of large companies that make money through volume and scale rather than very high margins. The four here cover jewellery, cement, packaged food and electrical equipment.
When margins are moderate, growth in volumes does the heavy lifting. For stocks with operating margin between 10 and 20 per cent, rising profit shows that scale is paying off. Whichever way you read stocks with operating margin between 10 and 20 per cent, the common thread is rising profit backed by complete financial data. With stocks with operating margin between 10 and 20 per cent, comparing valuation, growth and balance sheet strength together works better than relying on one number. Every company in the table below passed a rising-profit check, and the figures for stocks with operating margin between 10 and 20 per cent are complete. Read each company’s latest results and exchange filings before acting on stocks with operating margin between 10 and 20 per cent.
Stocks With Operating Margin Between 10 and 20 Per Cent at a Glance: Price, Market Cap, PE and ROE
Prices are closing prices as of 20 October 2026. UltraTech Cement has the lowest PE of the group at 36.95, while Britannia posts the highest return on equity at 49.61%.
| Stock | CMP (Rs) | Market Cap (Rs Cr) | PE | Industry PE | ROE | Debt to Equity | 52-Week Range (Rs) |
|---|---|---|---|---|---|---|---|
| Titan Company | 4,424.20 | 3,94,621 | 68.51 | 46.75 | 32.31% | 0.93 | 3,506.50 to 5,186.70 |
| UltraTech Cement | 10,650 | 3,16,676 | 36.95 | 29.41 | 10.66% | 0.31 | 10,325.00 to 13,110.00 |
| CG Power and Industrial Solutions | 855 | 1,28,873 | 103.94 | 45.89 | 15.13% | 0.01 | 525.50 to 980.90 |
| Britannia Industries | 4,705 | 1,18,269 | 45.31 | 34.68 | 49.61% | 0.27 | 4,705.00 to 6,271.00 |
Titan: 23.26% Profit CAGR Since FY22
Titan Company runs the jewellery (Tanishq), watches (Titan), eyewear and fragrances businesses. It reported FY26 revenue of Rs 88,136 crore, up 44.62% year on year, and net profit of Rs 5,073 crore, up 52.02%. Net profit has compounded at 23.26% a year since FY22, while revenue has grown 32.00% a year. Operating margin was 10.06% in FY26.
In the June 2026 quarter, revenue rose 29.31% to Rs 21,502 crore and net profit grew 62.88% to Rs 1,777 crore. The share price has gained 72.39% over five years and 22.47% over the past year. Domestic institutions raised their holding from 12.78% in June 2025 to 15.34% in June 2026. The stock trades at a PE of 68.51 against an industry PE of 46.75, with a return on equity of 32.31%.
UltraTech Cement: Profit Compounding at 3.36% a Year
UltraTech Cement is the largest cement producer in India by capacity, with plants and grinding units across the country. It reported FY26 revenue of Rs 89,089.04 crore, up 16.15% year on year, and net profit of Rs 8,188.35 crore, up 35.58%. Revenue has compounded at 13.81% a year since FY22. Operating margin was 19.71% in FY26. The debt-to-equity ratio is 0.31.
The stock trades at a PE of 36.95 against an industry PE of 29.41. The dividend yield is 2.23%. In the June 2026 quarter, revenue rose 15.49% to Rs 24,778.47 crore and net profit grew 17.24% to Rs 2,603.72 crore. Domestic institutions raised their holding from 16.65% in September 2025 to 20.86% in September 2026.
CG Power: Revenue Up 25.73% in FY26
CG Power and Industrial Solutions makes transformers, motors, drives and railway signalling products, and has entered semiconductor assembly. It reported FY26 revenue of Rs 12,662.22 crore, up 25.73% year on year, and net profit of Rs 1,196.73 crore, up 23.00%. Net profit has compounded at 17.42% a year since FY22, while revenue has grown 23.06% a year. Operating margin was 14.88% in FY26. The debt-to-equity ratio is 0.01, which keeps interest costs low.
In the June 2026 quarter, revenue rose 15.76% to Rs 3,364.39 crore and net profit grew 15.52% to Rs 308.28 crore. The share price has gained 563.19% over five years. Domestic institutions raised their holding from 16.33% in July 2025 to 18.30% in June 2026. The stock trades at a PE of 103.94 against an industry PE of 45.89, with a return on equity of 15.13%.
Britannia: Return on Equity of 49.61%
Britannia Industries is one of the largest biscuit and bakery companies in India, with brands such as Good Day and Marie Gold. It reported FY26 revenue of Rs 19,375.62 crore, up 6.64% year on year, and net profit of Rs 2,537.01 crore, up 16.49%. Net profit has compounded at 13.74% a year since FY22, while revenue has grown 7.78% a year. Operating margin was 19.52% in FY26. The debt-to-equity ratio is 0.27.
The stock trades at a PE of 45.31 against an industry PE of 34.68, with a return on equity of 49.61%. The dividend yield is 1.84%. In the June 2026 quarter, revenue rose 8.17% to Rs 5,061.38 crore and net profit grew 14.08% to Rs 593.38 crore. Domestic institutions raised their holding from 18.66% in June 2025 to 20.93% in June 2026.
Stocks With Operating Margin Between 10 and 20 Per Cent: Financial Comparison on Growth and Margins
The table compares scale and growth across these stocks with operating margin between 10 and 20 per cent. Latest quarter means the most recent reported quarter for each company, and only metrics that are positive for every company are shown.
| Stock | Revenue (Rs Cr) | Net Profit (Rs Cr) | Revenue Growth (YoY) | 4-Year Revenue CAGR | 4-Year Net Profit CAGR | Operating Margin (Latest Quarter) |
|---|---|---|---|---|---|---|
| Titan | 88,136 | 5,073 | 44.62% | 32.00% | 23.26% | 14.61% |
| UltraTech Cement | 89,089.04 | 8,188.35 | 16.15% | 13.81% | 3.36% | 20.83% |
| CG Power | 12,662.22 | 1,196.73 | 25.73% | 23.06% | 17.42% | 14.66% |
| Britannia | 19,375.62 | 2,537.01 | 6.64% | 7.78% | 13.74% | 18.12% |
Institutional Holding in Titan, UltraTech Cement, CG Power and Britannia
Institutional holding shows who is backing these stocks with operating margin between 10 and 20 per cent alongside the promoter. The table uses the latest reported quarter for each. Britannia has the deepest institutional backing, with FII and DII together holding 34.33% as of June 2026. Domestic institutions increased their holding over the past year in Titan (from 12.78% to 15.34%), UltraTech Cement (from 16.65% to 20.86%), CG Power (from 16.33% to 18.30%) and Britannia (from 18.66% to 20.93%).
| Stock | Promoter | FII | DII | Public | Quarter |
|---|---|---|---|---|---|
| Titan | 52.90% | 15.38% | 15.34% | 16.38% | June 2026 |
| UltraTech Cement | 58.48% | 12.69% | 20.86% | 7.97% | September 2026 |
| CG Power | 56.36% | 11.97% | 18.30% | 13.37% | June 2026 |
| Britannia | 50.55% | 13.40% | 20.93% | 15.13% | June 2026 |
Risks to Weigh in Stocks With Operating Margin Between 10 and 20 Per Cent
Being careful with stocks with operating margin between 10 and 20 per cent means looking at what can slow the story as well as what can speed it up. Four points matter most:
- Past growth may not repeat.
- Share prices can move sharply in either direction.
- Valuation: CG Power trades at a PE of 103.94 against an industry PE of 45.89, so earnings need to keep growing to support the price.
- Concentration: Holding all 4 names puts the allocation in one sector, so size each position to match your risk appetite.
How to Choose Between Stocks With Operating Margin Between 10 and 20 Per Cent
Picking from stocks with operating margin between 10 and 20 per cent comes down to four checks, applied in order.
- Check balance sheet strength first, and prefer a debt-to-equity ratio below 1 for non-financial companies.
- Compare each PE with the industry PE (29.41 to 46.75) and ask whether the growth rate justifies any gap.
- Track net profit growth, the operating margin and the return on equity in every quarterly result.
- Stagger entries across quarters and review institutional holding every reporting season.
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Conclusion
Among stocks with operating margin between 10 and 20 per cent, Titan stands out for the fastest profit growth, 23.26% a year since FY22, UltraTech Cement for the lowest PE of the group at 36.95, CG Power for the biggest five-year price gain at 563.19% and Britannia for the highest return on equity at 49.61%. Which one suits a portfolio depends on how much valuation risk it can carry, so staggering entries and reviewing each quarterly result is a sound habit. Investors comparing stocks with operating margin between 10 and 20 per cent should rank them on growth, financial strength and the price paid, and anyone who wants personalised guidance can consult a SEBI-registered advisor before acting.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions on Stocks With Operating Margin Between 10 and 20 Per Cent to Watch
Which are the best stocks with operating margin between 10 and 20 per cent to watch for multibagger potential?
Ans. Titan, UltraTech Cement, CG Power and Britannia are the 4 names this list highlights, with market caps of Rs 3,94,621 crore, Rs 3,16,676 crore, Rs 1,28,873 crore and Rs 1,18,269 crore respectively. Titan is notable for the fastest profit growth, 23.26% a year since FY22. UltraTech Cement stands out for the lowest PE of the group at 36.95. CG Power offers the biggest five-year price gain at 563.19%. Britannia brings the highest return on equity at 49.61%. These are watchlist names for stocks with operating margin between 10 and 20 per cent, not recommendations, so match each one to your own risk profile and time horizon.
Is Britannia a good stock for long-term investors?
Ans. Britannia has a return on equity of 49.61%, a PE of 45.31 against an industry PE of 34.68 and a market cap of Rs 1,18,269 crore. Net profit has compounded at 13.74% a year since FY22, and FY26 revenue rose 6.64% while June 2026 quarter net profit grew 14.08%. Long-term returns in stocks with operating margin between 10 and 20 per cent depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.
Can Titan become a multibagger from here?
Ans. Titan has already gained 72.39% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in stocks with operating margin between 10 and 20 per cent requires earnings to keep growing faster than the market for several years. Net profit has compounded at 23.26% a year since FY22, and FY26 revenue rose 44.62%. At a PE of 68.51 against an industry PE of 46.75, valuation should be checked against that growth before investing.
What is the market cap of Titan, UltraTech Cement, CG Power and Britannia?
Ans. As of 20 October 2026, Titan has a market cap of Rs 3,94,621 crore, UltraTech Cement has a market cap of Rs 3,16,676 crore, CG Power has a market cap of Rs 1,28,873 crore and Britannia has a market cap of Rs 1,18,269 crore. All of them qualify as largecaps. Market cap changes daily with the share price, so check the latest figure on the Univest Screener or on NSE before taking a decision on stocks with operating margin between 10 and 20 per cent.
What are the risks of investing in stocks with operating margin between 10 and 20 per cent?
Ans. The main risks are market swings, slower growth than expected and valuations that already reflect good news. Companies with strong balance sheets and steady earnings handle these better. CG Power trades at a PE of 103.94 against an industry PE of 45.89, so earnings growth needs to hold up.
Why is CG Power trading at a PE of 103.94?
Ans. CG Power’s PE of 103.94 compares with an industry PE of 45.89. The market is paying a premium for a return on equity of 15.13%, profit growth of 17.42% a year since FY22 and latest-quarter profit growth of 15.52%, which also means the stock is more sensitive if growth slows. Investors in stocks with operating margin between 10 and 20 per cent who are comfortable with higher valuation risk may prefer to stagger purchases instead of investing in one go.
How much do institutions hold in Titan, UltraTech Cement, CG Power and Britannia?
Ans. As of the latest reported quarter, FII and DII together hold 30.72% of Titan (15.38% and 15.34%), 33.55% of UltraTech Cement (12.69% and 20.86%), 30.27% of CG Power (11.97% and 18.30%) and 34.33% of Britannia (13.40% and 20.93%). Rising institutional holding is a useful signal in stocks with operating margin between 10 and 20 per cent, though it should be read with earnings trends rather than on its own.
