4 Smallcap High Operating Margin Low PE Stocks to Watch for Future Multibagger Potential: Capri Global, Sarda Energy, Gujarat Pipavav and IMFA
- October 30, 2026
- Posted by: Manan Bisht
- Category: Best Stocks
Capri Global Rs 231.61. Sarda Energy Rs 458. Gujarat Pipavav Rs 162.54. IMFA Rs 1,106.50. Market caps from Rs 6,055 crore to Rs 23,278 crore. Data as of 29 Oct 2026.
Quick Answer
Capri Global, Sarda Energy, Gujarat Pipavav and IMFA are the 4 picks in this high operating margin low PE stocks watchlist, with market caps between Rs 6,055 crore and Rs 23,278 crore. Capri Global stands out for the fastest profit growth, 46.68% a year since FY22, while Sarda Energy offers the biggest five-year price gain at 472.57%. PE ratios run from 11.54 to 20.64, so compare each one with its industry PE before investing. All figures are as of 29 October 2026.
High operating margin low PE stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Capri Global, Sarda Energy, Gujarat Pipavav and IMFA meet that test, with market caps from Rs 6,055 crore to Rs 23,278 crore and Capri Global offering the fastest profit growth, 46.68% a year since FY22. Each of these companies has a market capitalisation below Rs 30,000 crore and an operating margin of at least 20 per cent and a price to earnings ratio below 25, 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 an operating margin of at least 20 per cent and a price to earnings ratio below 25, 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 high operating margin low PE 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 High Operating Margin Low PE Stocks and Why Do They Attract Multibagger Interest?
High operating margin low PE stocks are shares of smaller companies that keep at least twenty paise of operating profit from every rupee of sales and still trade at a price to earnings ratio below 25, a rare mix of rich margins and a modest price. The four here cover steel and power, port services, ferro alloys and gold and home finance.
High margins show pricing power and cost control, and a modest earnings multiple shows that investors are not paying a steep price for that strength. Within high operating margin low PE stocks, the four companies show rising profit. For high operating margin low PE stocks, both FY26 and the latest quarter showed growth. Whichever way you read high operating margin low PE stocks, the common thread is rising profit backed by complete financial data. For high operating margin low PE stocks, checking each result against the latest quarter matters more than any single ratio. The next sections explain what stands out in each of high operating margin low PE stocks, using FY26 and latest quarter data. Prices move daily, so recheck the figures for high operating margin low PE stocks before you decide.
High Operating Margin Low PE Stocks at a Glance: Price, Market Cap, PE, ROE and Price to Book
Prices are closing prices as of 29 October 2026. IMFA has the lowest PE of the group at 11.54, while Gujarat Pipavav posts the highest return on equity at 21.57%.
| Stock | CMP (Rs) | Market Cap (Rs Cr) | PE | Industry PE | ROE | Price to Book | 52-Week Range (Rs) |
|---|---|---|---|---|---|---|---|
| Capri Global Capital | 231.61 | 23,278 | 20.64 | 17.97 | 13.18% | 3.23 | 151.10 to 287.45 |
| Sarda Energy and Minerals | 458 | 16,015 | 13.91 | 22.42 | 15.00% | 2.17 | 443.95 to 624.00 |
| Gujarat Pipavav Port | 162.54 | 7,956 | 14.24 | 31.83 | 21.57% | 3.33 | 141.55 to 200.09 |
| Indian Metals and Ferro Alloys | 1,106.50 | 6,055 | 11.54 | 11.27 | 15.61% | 2.23 | 1,064.10 to 1,679.90 |
Capri Global: 46.68% Profit CAGR Since FY22
Capri Global Capital is a non-banking finance company that offers housing loans, construction finance, gold loans and loans to small businesses. It reported FY26 revenue of Rs 4,742.01 crore, up 45.87% year on year, and net profit of Rs 949.15 crore, up 98.35%. Net profit has compounded at 46.68% a year since FY22, while revenue has grown 48.25% a year. Operating margin was 65.31% in FY26.
In the June 2026 quarter, revenue rose 57.33% to Rs 1,581.21 crore and net profit grew 102.05% to Rs 353.38 crore. The share price has gained 101.76% over five years and 27.72% over the past year. Foreign investors raised their holding from 4.83% in September 2025 to 13.00% in September 2026. The stock trades at a PE of 20.64 against an industry PE of 17.97, with a return on equity of 13.18%.
Sarda Energy: Revenue Up 23.10% in FY26
Sarda Energy and Minerals makes sponge iron, steel products and ferro alloys, mines iron ore and coal, and generates power for captive use and sale. It reported FY26 revenue of Rs 5,927.54 crore, up 23.10% year on year, and net profit of Rs 1,063.30 crore, up 56.09%. Net profit has compounded at 7.10% a year since FY22, while revenue has grown 10.58% a year. Operating margin was 35.76% in FY26. The debt-to-equity ratio is 0.36.
The stock trades at a PE of 13.91 against an industry PE of 22.42, below the sector average, with a return on equity of 15.00%. In the June 2026 quarter, revenue rose 0.22% to Rs 1,716.53 crore and net profit grew 9.39% to Rs 462.81 crore. The share price has gained 472.57% over five years. Promoters hold 73.16%, which keeps ownership stable.
Gujarat Pipavav: 27.11% Profit CAGR Since FY22
Gujarat Pipavav Port runs a port in Gujarat that handles containers, bulk cargo and liquid cargo. It reported FY26 revenue of Rs 1,231.68 crore, up 15.25% year on year, and net profit of Rs 515.16 crore, up 29.80%. Net profit has compounded at 27.11% a year since FY22, while revenue has grown 12.38% a year. Operating margin was 70.97% in FY26. The debt-to-equity ratio is 0.02, which keeps interest costs low.
In the June 2026 quarter, revenue rose 28.02% to Rs 347.22 crore and net profit grew 41.76% to Rs 147.90 crore. Foreign investors raised their holding from 19.82% in September 2025 to 23.23% in September 2026. The stock trades at a PE of 14.24 against an industry PE of 31.83, below the sector average, with a return on equity of 21.57%.
IMFA: Quarterly Profit Up 108.12%
Indian Metals and Ferro Alloys makes charge chrome and ferro alloys and runs its own mines and captive power plants in Odisha. It reported FY26 revenue of Rs 2,891.78 crore, up 9.91% year on year, and net profit of Rs 424.72 crore, up 11.97%. Operating margin was 23.09% in FY26. The debt-to-equity ratio is 0.35.
The stock trades at a PE of 11.54 against an industry PE of 11.27, with a return on equity of 15.61%. In the June 2026 quarter, revenue rose 46.69% to Rs 973.36 crore and net profit grew 108.12% to Rs 192.59 crore. The share price has gained 199.60% over five years. Domestic institutions raised their holding from 0.22% in September 2025 to 0.84% in September 2026.
High Operating Margin Low PE Stocks: Financial Comparison on Growth and Margins
The table compares scale and growth across these high operating margin low PE 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 | Latest Quarter Revenue Growth | Operating Margin (Latest Quarter) |
|---|---|---|---|---|---|---|
| Capri Global | 4,742.01 | 949.15 | 45.87% | 48.25% | 57.33% | 68.84% |
| Sarda Energy | 5,927.54 | 1,063.30 | 23.10% | 10.58% | 0.22% | 47.94% |
| Gujarat Pipavav | 1,231.68 | 515.16 | 15.25% | 12.38% | 28.02% | 69.52% |
| IMFA | 2,891.78 | 424.72 | 9.91% | 2.50% | 46.69% | 30.63% |
Check the Univest Screener for live data on these high operating margin low PE stocks
Institutional Holding in Capri Global, Sarda Energy, Gujarat Pipavav and IMFA
Institutional holding shows who is backing these high operating margin low PE stocks alongside the promoter. The table uses the latest reported quarter for each. Gujarat Pipavav has the deepest institutional backing, with FII and DII together holding 36.32% as of September 2026. Domestic institutions increased their holding over the past year in IMFA (from 0.22% to 0.84%).
| Stock | Promoter | FII | DII | Public | Quarter |
|---|---|---|---|---|---|
| Capri Global | 59.92% | 13.00% | 17.04% | 10.04% | September 2026 |
| Sarda Energy | 73.16% | 3.52% | 3.48% | 19.85% | June 2026 |
| Gujarat Pipavav | 44.01% | 23.23% | 13.09% | 19.67% | September 2026 |
| IMFA | 58.69% | 2.88% | 0.84% | 37.60% | September 2026 |
Risks to Weigh in High Operating Margin Low PE Stocks
Being careful with high operating margin low PE 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: Capri Global trades at a PE of 20.64 against an industry PE of 17.97, 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 Operating Margin Low PE Stocks
Picking from high operating margin low PE 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 (11.27 to 31.83) 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 Capri Global, Sarda Energy, Gujarat Pipavav and IMFA live prices.
Conclusion
Among high operating margin low PE stocks, Capri Global stands out for the fastest profit growth, 46.68% a year since FY22, Sarda Energy for the biggest five-year price gain at 472.57%, Gujarat Pipavav for the highest return on equity at 21.57% and IMFA for the strongest latest-quarter profit growth at 108.12%. 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 operating margin low PE 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 Operating Margin Low PE Stocks to Watch
Which are the best high operating margin low PE stocks to watch for multibagger potential?
Ans. Capri Global, Sarda Energy, Gujarat Pipavav and IMFA are the 4 names this list highlights, with market caps of Rs 23,278 crore, Rs 16,015 crore, Rs 7,956 crore and Rs 6,055 crore respectively. Capri Global is notable for the fastest profit growth, 46.68% a year since FY22. Sarda Energy stands out for the biggest five-year price gain at 472.57%. Gujarat Pipavav offers the highest return on equity at 21.57%. IMFA brings the strongest latest-quarter profit growth at 108.12%. These are watchlist names for high operating margin low PE stocks, not recommendations, so match each one to your own risk profile and time horizon.
Is Gujarat Pipavav a good stock for long-term investors?
Ans. Gujarat Pipavav has a return on equity of 21.57%, a PE of 14.24 against an industry PE of 31.83 and a market cap of Rs 7,956 crore. Net profit has compounded at 27.11% a year since FY22, and FY26 revenue rose 15.25% while June 2026 quarter net profit grew 41.76%. Long-term returns in high operating margin low PE stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.
Can Capri Global become a multibagger from here?
Ans. Capri Global has already gained 101.76% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in high operating margin low PE stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 46.68% a year since FY22, and FY26 revenue rose 45.87%. At a PE of 20.64 against an industry PE of 17.97, valuation should be checked against that growth before investing.
What is the market cap of Capri Global, Sarda Energy, Gujarat Pipavav and IMFA?
Ans. As of 29 October 2026, Capri Global has a market cap of Rs 23,278 crore, Sarda Energy has a market cap of Rs 16,015 crore, Gujarat Pipavav has a market cap of Rs 7,956 crore and IMFA has a market cap of Rs 6,055 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 high operating margin low PE stocks.
What are the risks of investing in high operating margin low PE 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. Capri Global trades at a PE of 20.64 against an industry PE of 17.97, so earnings growth needs to hold up.
Is IMFA trading below its industry PE?
Ans. IMFA trades at a PE of 11.54 against an industry PE of 11.27. A lower PE means investors pay less for each rupee of earnings, but it should be read with growth (FY26 revenue rose 9.91% and June 2026 quarter net profit grew 108.12%) and balance sheet strength before drawing a conclusion.
How much do institutions hold in Capri Global, Sarda Energy, Gujarat Pipavav and IMFA?
Ans. As of the latest reported quarter, FII and DII together hold 30.04% of Capri Global (13.00% and 17.04%), 7.00% of Sarda Energy (3.52% and 3.48%), 36.32% of Gujarat Pipavav (23.23% and 13.09%) and 3.72% of IMFA (2.88% and 0.84%). Rising institutional holding is a useful signal in high operating margin low PE stocks, though it should be read with earnings trends rather than on its own.
