4 Largecap High Growth Stocks to Watch for Future Multibagger Potential: UltraTech Cement, TVS Motor, Polycab and Apollo Hospitals
- October 23, 2026
- Posted by: Manan Bisht
- Category: Best Stocks
UltraTech Cement Rs 10,958. TVS Motor Rs 3,974. Polycab Rs 7,770.50. Apollo Hospitals Rs 7,604.50. Market caps from Rs 1.14 lakh crore to Rs 3.17 lakh crore. Data as of 22 Oct 2026.
Quick Answer
UltraTech Cement, TVS Motor, Polycab and Apollo Hospitals are the 4 picks in this high growth stocks watchlist, with market caps between Rs 1.14 lakh crore and Rs 3.17 lakh crore. UltraTech Cement stands out for the lowest PE of the group at 36.95, while TVS Motor offers the highest return on equity at 31.56%. PE ratios run from 36.95 to 53.12, so compare each one with its industry PE before investing. All figures are as of 22 October 2026.
High growth stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. UltraTech Cement, TVS Motor, Polycab and Apollo Hospitals meet that test, with market caps from Rs 1.14 lakh crore to Rs 3.17 lakh crore and UltraTech Cement offering the lowest PE of the group at 36.95. Each of these companies has FY26 profit growth of at least 30 per cent and FY26 revenue growth of at least 15 per cent, and net profit rose in FY26 and in the latest quarter.
This list covers companies with FY26 profit growth of at least 30 per cent and FY26 revenue growth of at least 15 per cent, rising profit in FY26 and the latest quarter, market capitalisation above Rs 1,00,000 crore, and complete, verifiable financials, ranked by market capitalisation. Each company has a market cap above Rs 1 lakh crore. Investors screening high growth stocks usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 22 October 2026 and are drawn from NSE and BSE data and company filings.
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What Are High Growth Stocks and Why Do They Attract Multibagger Interest?
High growth stocks are shares of large companies that are growing both profit and sales at a fast pace. The four here cover cement, two-wheelers, cables and hospitals.
Growth in profit and revenue together shows demand, not just cost cutting. For high growth stocks, both FY26 and the latest quarter showed growth. A sensible way to study high growth stocks is to look at profit growth, returns and valuation side by side. Below, each of high growth stocks gets its own breakdown of growth, returns and valuation. Treat high growth stocks as a research list, since share prices and rankings change with every earnings season.
High Growth Stocks at a Glance: Price, Market Cap, PE, ROE and Price to Book
Prices are closing prices as of 22 October 2026. UltraTech Cement has the lowest PE of the group at 36.95, while TVS Motor posts the highest return on equity at 31.56%.
| Stock | CMP (Rs) | Market Cap (Rs Cr) | PE | Industry PE | ROE | Price to Book | 52-Week Range (Rs) |
|---|---|---|---|---|---|---|---|
| UltraTech Cement | 10,958 | 3,16,676 | 36.95 | 29.41 | 10.66% | 4.13 | 10,325.00 to 13,110.00 |
| TVS Motor Company | 3,974 | 1,91,289 | 53.12 | 23.62 | 31.56% | 19.94 | 3,228.00 to 4,484.50 |
| Polycab India | 7,770.50 | 1,25,388 | 43.16 | 49.96 | 22.25% | 10.44 | 6,663.00 to 10,126.00 |
| Apollo Hospitals Enterprise | 7,604.50 | 1,14,101 | 52.53 | 60.75 | 20.48% | 12.04 | 6,696.50 to 9,070.50 |
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.
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. The stock trades at a PE of 36.95 against an industry PE of 29.41. The dividend yield is 2.23%.
TVS Motor: 44.50% Profit CAGR Since FY22
TVS Motor Company makes motorcycles, scooters, mopeds and electric two-wheelers, with a growing export business. It reported FY26 revenue of Rs 56,091.53 crore, up 27.02% year on year, and net profit of Rs 3,186.43 crore, up 35.60%. Net profit has compounded at 44.50% a year since FY22, while revenue has grown 23.15% a year. Operating margin was 14.85% in FY26.
The stock trades at a PE of 53.12 against an industry PE of 23.62, with a return on equity of 31.56%. In the June 2026 quarter, revenue rose 34.32% to Rs 16,453.72 crore and net profit grew 64.52% to Rs 1,057.61 crore. The share price has gained 598.75% over five years and 14.49% over the past year. Domestic institutions raised their holding from 18.81% in June 2025 to 21.13% in June 2026.
Polycab: 33.79% Profit CAGR Since FY22
Polycab India is a leading maker of wires and cables in India, with a growing fast-moving electrical goods business. It reported FY26 revenue of Rs 29,120.04 crore, up 28.76% year on year, and net profit of Rs 2,708.43 crore, up 32.41%. Net profit has compounded at 33.79% a year since FY22, while revenue has grown 24.06% a year. Operating margin was 14.69% in FY26. The debt-to-equity ratio is 0.02, which keeps interest costs low.
In the June 2026 quarter, revenue rose 38.90% to Rs 8,314.65 crore and net profit grew 32.84% to Rs 796.65 crore. The share price has gained 230.55% over five years. Foreign investors raised their holding from 11.44% in June 2025 to 19.00% in June 2026. The stock trades at a PE of 43.16 against an industry PE of 49.96, below the sector average, with a return on equity of 22.25%.
Apollo Hospitals: Return on Equity of 20.48%
Apollo Hospitals Enterprise runs one of India’s largest hospital networks and also operates pharmacies and a digital health platform. It reported FY26 revenue of Rs 25,420.10 crore, up 15.58% year on year, and net profit of Rs 2,002.70 crore, up 33.06%. Net profit has compounded at 16.13% a year since FY22, while revenue has grown 14.59% a year. Operating margin was 15.80% in FY26.
The stock trades at a PE of 52.53 against an industry PE of 60.75, below the sector average, with a return on equity of 20.48%. In the June 2026 quarter, revenue rose 20.57% to Rs 7,092.30 crore and net profit grew 38.41% to Rs 610.40 crore. The share price has gained 83.08% over five years. Domestic institutions raised their holding from 21.12% in September 2025 to 22.07% in September 2026.
High Growth Stocks: Financial Comparison on Growth and Margins
The table compares scale and growth across these high growth stocks. 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) |
|---|---|---|---|---|---|---|
| UltraTech Cement | 89,089.04 | 8,188.35 | 16.15% | 13.81% | 3.36% | 20.83% |
| TVS Motor | 56,091.53 | 3,186.43 | 27.02% | 23.15% | 44.50% | 15.35% |
| Polycab | 29,120.04 | 2,708.43 | 28.76% | 24.06% | 33.79% | 15.12% |
| Apollo Hospitals | 25,420.10 | 2,002.70 | 15.58% | 14.59% | 16.13% | 16.39% |
Check the Univest Screener for live data on these high growth stocks
Institutional Holding in UltraTech Cement, TVS Motor, Polycab and Apollo Hospitals
Institutional holding shows who is backing these high growth stocks alongside the promoter. The table uses the latest reported quarter for each. Apollo Hospitals has the deepest institutional backing, with FII and DII together holding 65.25% as of September 2026. Domestic institutions increased their holding over the past year in UltraTech Cement (from 16.65% to 20.86%), TVS Motor (from 18.81% to 21.13%) and Apollo Hospitals (from 21.12% to 22.07%).
| Stock | Promoter | FII | DII | Public | Quarter |
|---|---|---|---|---|---|
| UltraTech Cement | 58.48% | 12.69% | 20.86% | 7.97% | September 2026 |
| TVS Motor | 50.27% | 20.45% | 21.13% | 8.15% | June 2026 |
| Polycab | 61.46% | 19.00% | 7.62% | 11.92% | June 2026 |
| Apollo Hospitals | 28.02% | 43.18% | 22.07% | 6.72% | September 2026 |
Risks to Weigh in High Growth Stocks
Being careful with high growth stocks 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: TVS Motor trades at a PE of 53.12 against an industry PE of 23.62, 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 High Growth Stocks
Picking from high growth stocks 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 (23.62 to 60.75) 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.
Download the Univest iOS App or Univest Android App to track UltraTech Cement, TVS Motor, Polycab and Apollo Hospitals live prices.
Conclusion
Among high growth stocks, UltraTech Cement stands out for the lowest PE of the group at 36.95, TVS Motor for the highest return on equity at 31.56%, Polycab for a nearly debt-free balance sheet, with a debt-to-equity ratio of 0.02 and Apollo Hospitals for 15.58% revenue growth in FY26. 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 high growth stocks 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 High Growth Stocks to Watch
Which are the best high growth stocks to watch for multibagger potential?
Ans. UltraTech Cement, TVS Motor, Polycab and Apollo Hospitals are the 4 names this list highlights, with market caps of Rs 3,16,676 crore, Rs 1,91,289 crore, Rs 1,25,388 crore and Rs 1,14,101 crore respectively. UltraTech Cement is notable for the lowest PE of the group at 36.95. TVS Motor stands out for the highest return on equity at 31.56%. Polycab offers a nearly debt-free balance sheet, with a debt-to-equity ratio of 0.02. Apollo Hospitals brings 15.58% revenue growth in FY26. These are watchlist names for high growth stocks, not recommendations, so match each one to your own risk profile and time horizon.
Is TVS Motor a good stock for long-term investors?
Ans. TVS Motor has a return on equity of 31.56%, a PE of 53.12 against an industry PE of 23.62 and a market cap of Rs 1,91,289 crore. Net profit has compounded at 44.50% a year since FY22, and FY26 revenue rose 27.02% while June 2026 quarter net profit grew 64.52%. Long-term returns in high growth stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.
Can Polycab become a multibagger from here?
Ans. Polycab has already gained 230.55% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in high growth stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 33.79% a year since FY22, and FY26 revenue rose 28.76%. At a PE of 43.16 against an industry PE of 49.96, valuation should be checked against that growth before investing.
What is the market cap of UltraTech Cement, TVS Motor, Polycab and Apollo Hospitals?
Ans. As of 22 October 2026, UltraTech Cement has a market cap of Rs 3,16,676 crore, TVS Motor has a market cap of Rs 1,91,289 crore, Polycab has a market cap of Rs 1,25,388 crore and Apollo Hospitals has a market cap of Rs 1,14,101 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 high growth stocks.
What are the risks of investing in high growth stocks?
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. TVS Motor trades at a PE of 53.12 against an industry PE of 23.62, so earnings growth needs to hold up.
Why is TVS Motor trading at a PE of 53.12?
Ans. TVS Motor’s PE of 53.12 compares with an industry PE of 23.62. The market is paying a premium for a return on equity of 31.56%, profit growth of 44.50% a year since FY22 and latest-quarter profit growth of 64.52%, which also means the stock is more sensitive if growth slows. Investors in high growth stocks who are comfortable with higher valuation risk may prefer to stagger purchases instead of investing in one go.
How much do institutions hold in UltraTech Cement, TVS Motor, Polycab and Apollo Hospitals?
Ans. As of the latest reported quarter, FII and DII together hold 33.55% of UltraTech Cement (12.69% and 20.86%), 41.58% of TVS Motor (20.45% and 21.13%), 26.62% of Polycab (19.00% and 7.62%) and 65.25% of Apollo Hospitals (43.18% and 22.07%). Rising institutional holding is a useful signal in high growth stocks, though it should be read with earnings trends rather than on its own.
