4 Smallcap PEG Ratio 1 to 2 Stocks to Watch for Future Multibagger Potential: Elgi Equipments, Engineers India, CCL Products and Bikaji Foods
- October 30, 2026
- Posted by: Manan Bisht
- Category: Best Stocks
Elgi Equipments Rs 511.25. Engineers India Rs 261.15. CCL Products Rs 946.30. Bikaji Foods Rs 460. Market caps from Rs 11,524 crore to Rs 17,411 crore. Data as of 29 Oct 2026.
Quick Answer
Elgi Equipments, Engineers India, CCL Products and Bikaji Foods are the 4 picks in this PEG ratio 1 to 2 stocks watchlist, with market caps between Rs 11,524 crore and Rs 17,411 crore. Elgi Equipments stands out for the largest market cap at Rs 17,411 crore, while Engineers India offers the highest return on equity at 21.98%. PE ratios run from 21.58 to 45.15, so compare each one with its industry PE before investing. All figures are as of 29 October 2026.
PEG ratio 1 to 2 stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Elgi Equipments, Engineers India, CCL Products and Bikaji Foods meet that test, with market caps from Rs 11,524 crore to Rs 17,411 crore and Elgi Equipments offering the largest market cap at Rs 17,411 crore. Each of these companies has a market capitalisation below Rs 30,000 crore and a PEG ratio between 1 and 2, worked out as the price to earnings ratio divided by the FY22 to FY26 profit CAGR, a return on equity of at least 10 per cent and profit growth in FY26 and in the latest quarter, and net profit rose in FY26 and in the latest quarter.
This list covers companies with a market capitalisation below Rs 30,000 crore and a PEG ratio between 1 and 2, worked out as the price to earnings ratio divided by the FY22 to FY26 profit CAGR, a return on equity of at least 10 per cent and profit growth in FY26 and in the latest quarter, rising profit in FY26 and the latest quarter, and complete, verifiable financials, ranked by market capitalisation. Each company has a market cap below Rs 30,000 crore. Investors screening PEG ratio 1 to 2 stocks usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 29 October 2026 and are drawn from NSE and BSE data and company filings.
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What Are PEG Ratio 1 to 2 Stocks and Why Do They Attract Multibagger Interest?
PEG ratio 1 to 2 stocks are shares of smaller companies whose price to earnings ratio sits between one and two times their yearly profit growth rate, a fair price band for businesses with steady growth. The four here cover compressors, engineering consultancy, snacks and coffee.
A PEG ratio between 1 and 2 shows that the market pays a fair price for growth, and it often fits strong companies where steady profit growth supports the valuation. For PEG ratio 1 to 2 stocks, both FY26 and the latest quarter showed growth. Whichever way you read PEG ratio 1 to 2 stocks, the common thread is rising profit backed by complete financial data. For PEG ratio 1 to 2 stocks, checking each result against the latest quarter matters more than any single ratio. The next sections explain what stands out in each of PEG ratio 1 to 2 stocks, using FY26 and latest quarter data. Prices move daily, so recheck the figures for PEG ratio 1 to 2 stocks before you decide.
PEG Ratio 1 to 2 Stocks at a Glance: Price, Market Cap, PE and ROE
Prices are closing prices as of 29 October 2026. Engineers India combines the lowest PE of the group, 21.58, with the highest return on equity, 21.98%.
| Stock | CMP (Rs) | Market Cap (Rs Cr) | PE | Industry PE | ROE | Debt to Equity | 52-Week Range (Rs) |
|---|---|---|---|---|---|---|---|
| Elgi Equipments | 511.25 | 17,411 | 38.88 | 45.93 | 19.28% | 0.24 | 408.25 to 653.40 |
| Engineers India | 261.15 | 16,923 | 21.58 | 22.89 | 21.98% | 0.01 | 163.55 to 321.40 |
| CCL Products India | 946.30 | 13,869 | 32.07 | 24.20 | 16.55% | 0.56 | 818.75 to 1,242.20 |
| Bikaji Foods International | 460 | 11,524 | 45.15 | 34.68 | 16.07% | 0.19 | 460.00 to 768.50 |
Elgi Equipments: 24.61% Profit CAGR Since FY22
Elgi Equipments makes air compressors for industrial customers in India and overseas. It reported FY26 revenue of Rs 4,068.50 crore, up 14.02% year on year, and net profit of Rs 430.20 crore, up 22.84%. Net profit has compounded at 24.61% a year since FY22, while revenue has grown 12.06% a year. Operating margin was 17.53% in FY26. The debt-to-equity ratio is 0.24.
In the June 2026 quarter, revenue rose 22.13% to Rs 1,082.60 crore and net profit grew 20.68% to Rs 103.30 crore. The share price has gained 182.78% over five years and 21.42% over the past year. Domestic institutions raised their holding from 5.23% in June 2025 to 10.13% in June 2026. The stock trades at a PE of 38.88 against an industry PE of 45.93, below the sector average, with a return on equity of 19.28%.
Engineers India: Revenue Up 26.95% in FY26
Engineers India provides engineering consultancy and project management services to the oil, gas, petrochemical and infrastructure sectors. It reported FY26 revenue of Rs 4,123.24 crore, up 26.95% year on year, and net profit of Rs 691.59 crore, up 19.29%. Net profit has compounded at 19.17% a year since FY22, while revenue has grown 7.89% a year. Operating margin was 23.96% in FY26. The debt-to-equity ratio is 0.01, which keeps interest costs low.
The stock trades at a PE of 21.58 against an industry PE of 22.89, below the sector average, with a return on equity of 21.98%. The dividend yield is 1.66%. Net profit for the June 2026 quarter grew 117.04% to Rs 157.94 crore. The share price has gained 248.24% over five years and 38.39% over the past year. Domestic institutions raised their holding from 13.75% in September 2025 to 16.61% in September 2026.
CCL Products: Revenue Up 43.40% in FY26
CCL Products India is one of the largest private-label and instant coffee makers in the world and exports to many countries. It reported FY26 revenue of Rs 4,465.80 crore, up 43.40% year on year, and net profit of Rs 388.11 crore, up 25.06%. Net profit has compounded at 17.39% a year since FY22, while revenue has grown 32.11% a year. Operating margin was 16.63% in FY26.
In the September 2026 quarter, revenue rose 7.78% to Rs 1,215.99 crore and net profit grew 28.98% to Rs 130.09 crore. The share price has gained 145.27% over five years and 18.32% over the past year. Foreign investors raised their holding from 10.53% in September 2025 to 12.12% in September 2026. The stock trades at a PE of 32.07 against an industry PE of 24.20, with a return on equity of 16.55%.
Bikaji Foods: 35.25% Profit CAGR Since FY22
Bikaji Foods International makes bhujia, namkeen, sweets and snacks sold across India and in export markets. It reported FY26 revenue of Rs 3,045.27 crore, up 14.71% year on year, and net profit of Rs 254.41 crore, up 30.91%. Net profit has compounded at 35.25% a year since FY22, while revenue has grown 17.07% a year. Operating margin was 15.30% in FY26. The debt-to-equity ratio is 0.19.
The stock trades at a PE of 45.15 against an industry PE of 34.68, with a return on equity of 16.07%. In the June 2026 quarter, revenue rose 12.79% to Rs 747.40 crore and net profit grew 1.61% to Rs 59.47 crore. Domestic institutions raised their holding from 13.37% in June 2025 to 17.50% in June 2026.
PEG Ratio 1 to 2 Stocks: Financial Comparison on Growth and Margins
The table compares scale and growth across these PEG ratio 1 to 2 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) |
|---|---|---|---|---|---|---|
| Elgi Equipments | 4,068.50 | 430.20 | 14.02% | 12.06% | 24.61% | 16.02% |
| Engineers India | 4,123.24 | 691.59 | 26.95% | 7.89% | 19.17% | 25.26% |
| CCL Products | 4,465.80 | 388.11 | 43.40% | 32.11% | 17.39% | 17.95% |
| Bikaji Foods | 3,045.27 | 254.41 | 14.71% | 17.07% | 35.25% | 15.57% |
Check the Univest Screener for live data on these PEG ratio 1 to 2 stocks
Institutional Holding in Elgi Equipments, Engineers India, CCL Products and Bikaji Foods
Institutional holding shows who is backing these PEG ratio 1 to 2 stocks alongside the promoter. The table uses the latest reported quarter for each. CCL Products has the deepest institutional backing, with FII and DII together holding 33.53% as of September 2026. Domestic institutions increased their holding over the past year in Elgi Equipments (from 5.23% to 10.13%), Engineers India (from 13.75% to 16.61%) and Bikaji Foods (from 13.37% to 17.50%).
| Stock | Promoter | FII | DII | Public | Quarter |
|---|---|---|---|---|---|
| Elgi Equipments | 31.19% | 21.90% | 10.13% | 36.78% | June 2026 |
| Engineers India | 51.32% | 8.09% | 16.61% | 23.98% | September 2026 |
| CCL Products | 46.16% | 12.12% | 21.41% | 20.31% | September 2026 |
| Bikaji Foods | 73.88% | 4.61% | 17.50% | 4.02% | June 2026 |
Risks to Weigh in PEG Ratio 1 to 2 Stocks
Being careful with PEG ratio 1 to 2 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: CCL Products trades at a PE of 32.07 against an industry PE of 24.20, 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 PEG Ratio 1 to 2 Stocks
Picking from PEG ratio 1 to 2 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 (22.89 to 45.93) 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 PEG ratio 1 to 2 stocks, Elgi Equipments stands out for the largest market cap at Rs 17,411 crore, Engineers India for the highest return on equity at 21.98%, CCL Products for 43.40% revenue growth in FY26 and Bikaji Foods for the fastest profit growth, 35.25% a year since FY22. 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 PEG ratio 1 to 2 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 PEG Ratio 1 to 2 Stocks to Watch
Which are the best PEG ratio 1 to 2 stocks to watch for multibagger potential?
Ans. Elgi Equipments, Engineers India, CCL Products and Bikaji Foods are the 4 names this list highlights, with market caps of Rs 17,411 crore, Rs 16,923 crore, Rs 13,869 crore and Rs 11,524 crore respectively. Elgi Equipments is notable for the largest market cap at Rs 17,411 crore. Engineers India stands out for the highest return on equity at 21.98%. CCL Products offers 43.40% revenue growth in FY26. Bikaji Foods brings the fastest profit growth, 35.25% a year since FY22. These are watchlist names for PEG ratio 1 to 2 stocks, not recommendations, so match each one to your own risk profile and time horizon.
Is Engineers India a good stock for long-term investors?
Ans. Engineers India has a return on equity of 21.98%, a PE of 21.58 against an industry PE of 22.89 and a market cap of Rs 16,923 crore. Net profit has compounded at 19.17% a year since FY22, and FY26 revenue rose 26.95% while June 2026 quarter net profit grew 117.04%. Long-term returns in PEG ratio 1 to 2 stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.
Can Bikaji Foods become a multibagger from here?
Ans. Bikaji Foods has a market cap of Rs 11,524 crore. A multibagger outcome in PEG ratio 1 to 2 stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 35.25% a year since FY22, and FY26 revenue rose 14.71%. At a PE of 45.15 against an industry PE of 34.68, valuation should be checked against that growth before investing.
What is the market cap of Elgi Equipments, Engineers India, CCL Products and Bikaji Foods?
Ans. As of 29 October 2026, Elgi Equipments has a market cap of Rs 17,411 crore, Engineers India has a market cap of Rs 16,923 crore, CCL Products has a market cap of Rs 13,869 crore and Bikaji Foods has a market cap of Rs 11,524 crore. All of them qualify as smallcaps. 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 PEG ratio 1 to 2 stocks.
What are the risks of investing in PEG ratio 1 to 2 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. CCL Products trades at a PE of 32.07 against an industry PE of 24.20, so earnings growth needs to hold up.
Why is CCL Products trading at a PE of 32.07?
Ans. CCL Products’ PE of 32.07 compares with an industry PE of 24.20. The market is paying a premium for a return on equity of 16.55%, profit growth of 17.39% a year since FY22 and latest-quarter profit growth of 28.98%, which also means the stock is more sensitive if growth slows. Investors in PEG ratio 1 to 2 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 Elgi Equipments, Engineers India, CCL Products and Bikaji Foods?
Ans. As of the latest reported quarter, FII and DII together hold 32.03% of Elgi Equipments (21.90% and 10.13%), 24.70% of Engineers India (8.09% and 16.61%), 33.53% of CCL Products (12.12% and 21.41%) and 22.11% of Bikaji Foods (4.61% and 17.50%). Rising institutional holding is a useful signal in PEG ratio 1 to 2 stocks, though it should be read with earnings trends rather than on its own.
