3 Credit Rating and Research Agency, Engine Cooling Systems Maker and Jeanswear and Casual Apparel Brand Owner Stocks With a Strong Future Roadmap: ICRA, Banco Products (India) and Kewal Kiran Clothing
- November 4, 2026
- Posted by: Ankit Jaiswal
- Category: Best Stocks
ICRA, Banco Products (India) and Kewal Kiran Clothing: ROE of 15.4% to 28.6% and FY22 to FY26 revenue CAGR of 15.1% to 19.4%. Prices as of 3 Nov 2026.
Quick Answer
The three credit rating, radiator and jeanswear stocks to watch are ICRA, Banco Products (India) and Kewal Kiran Clothing. Their return on equity ranges from 15.4% to 28.6%, and their revenue compound annual growth from FY22 to FY26 ranges from 15.1% to 19.4%. Banco Products (India) leads on both return on equity at 28.6% and revenue growth at 19.4% a year. Prices are based on the 3 November 2026 close, and this article is educational, not investment advice.
Credit rating, radiator and jeanswear stocks give investors a way to track businesses that sit close to everyday demand in India. ICRA, Banco Products (India) and Kewal Kiran Clothing cover a credit rating and research agency, an engine cooling systems maker and a jeanswear brand owner.
This list covers three credit rating, radiator and jeanswear stocks with complete current figures: ICRA, Banco Products (India) and Kewal Kiran Clothing. Every figure comes from the latest reported financials and the 3 November 2026 market close. Companies without complete current figures were left out.
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What Are Credit Rating, Radiator and Jeanswear Stocks?
Credit rating, radiator and jeanswear stocks are listed companies that rate debt and offer research and analytics, make radiators, heat exchangers and gaskets for vehicles and industry, and sell jeanswear and casual apparel through exclusive stores and multi-brand outlets. Their earnings depend on debt issuance, vehicle and industrial output and apparel spending.
Credit Rating, Radiator and Jeanswear Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| ICRA | 4,349.6 | 4,332 | 22.1 | 33.6 | 15.4 | 0.02 |
| Banco Products (India) | 593.85 | 8,345 | 16.9 | 35.2 | 28.6 | 0.36 |
| Kewal Kiran Clothing | 431.7 | 2,588 | 16.1 | 33.8 | 15.4 | 0.11 |
On valuation, all three trade at a P/E below their industry P/E, which means the market is pricing them at a lower multiple than their peer group. Readers comparing credit rating, radiator and jeanswear stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain. With the Q2 FY27 results season close, investors in credit rating, radiator and jeanswear stocks can use the coming numbers to test whether growth is holding.
Why Do Credit Rating, Radiator and Jeanswear Stocks Have a Strong Roadmap in India?
Credit rating, radiator and jeanswear stocks have a strong roadmap in India because growing bond market activity, steady vehicle and industrial output and rising spending on branded apparel keep widening the market for these companies.
- Credit ratings. A deeper bond market needs independent opinions.
- Cooling systems. Engines and machines need heat management.
- Jeanswear. Branded stores reach young shoppers.
Why ICRA Features Among These Credit Rating, Radiator and Jeanswear Stocks
Among the credit rating, radiator and jeanswear stocks on this list, ICRA is a credit rating agency, majority owned by Moody’s, that also offers research and analytical services, software and consulting.
Revenue rose from Rs 384 crore in FY22 to Rs 675 crore in FY26, a compound annual growth rate of 15.1%. Net profit grew from Rs 114 crore in FY22 to Rs 183 crore in FY26, which works out to a compound annual growth rate of 12.6%.
In the June 2026 quarter, revenue grew 28.3% year on year to Rs 191 crore, while net profit rose 32.0% to Rs 56.5 crore. The company has a return on equity of 15.4%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 4,332 crore. The stock trades at a P/E of 22.1, below the industry P/E of 33.6.
Roadmap: A deepening bond market and rising bank credit generate more rating work, while its analytical and software services add diversification. Its association with a global rating group strengthens its brand with issuers.
What to watch: Follow trends in debt issuance and bank credit growth.
Why Banco Products (India) Features Among These Credit Rating, Radiator and Jeanswear Stocks
Among the financial services and consumer shares on this list, Banco Products (India) is a Vadodara-based maker of engine cooling systems, radiators, heat exchangers, gaskets and sealing products for vehicle makers, industrial customers and the aftermarket.
In the June 2026 quarter, revenue grew 20.9% year on year to Rs 1,190 crore, while net profit rose 11.7% to Rs 122 crore. Revenue rose from Rs 1,963 crore in FY22 to Rs 3,995 crore in FY26, a compound annual growth rate of 19.4%.
Net profit grew from Rs 152 crore in FY22 to Rs 482 crore in FY26, which works out to a compound annual growth rate of 33.3%. The company has a return on equity of 28.6%, a debt to equity ratio of 0.36 and a market capitalisation of Rs 8,345 crore. The stock trades at a P/E of 16.9, below the industry P/E of 35.2.
Roadmap: The company is growing its cooling systems range for commercial vehicles, off-highway machines and industrial uses and is widening its presence in overseas markets. Aftermarket sales add steady demand beyond new vehicle production.
What to watch: Monitor vehicle production trends, export orders and raw material costs.
Why Kewal Kiran Clothing Features Among These Credit Rating, Radiator and Jeanswear Stocks
Among the three companies on this list, Kewal Kiran Clothing, based in Mumbai, owns the Killer, Easies, Integriti and Lawman Pg3 brands and sells jeanswear and casual apparel through exclusive stores, multi-brand outlets and online channels.
The company has a return on equity of 15.4%, a debt to equity ratio of 0.11 and a market capitalisation of Rs 2,588 crore. The stock trades at a P/E of 16.1, below the industry P/E of 33.8.
Revenue rose from Rs 625 crore in FY22 to Rs 1,237 crore in FY26, a compound annual growth rate of 18.6%. Net profit grew from Rs 81.6 crore in FY22 to Rs 152 crore in FY26, which works out to a compound annual growth rate of 16.9%. In the June 2026 quarter, revenue grew 17.9% year on year to Rs 292 crore, while net profit rose 28.2% to Rs 41.0 crore.
Roadmap: The company is widening its exclusive store network, building its newer brands and adding product categories beyond denim. Control over its own manufacturing helps it respond quickly to fashion trends, and a debt-light balance sheet supports store expansion.
What to watch: Follow same-store sales and the pace at which newer brands scale.
ICRA vs Banco Products (India) vs Kewal Kiran Clothing on Key Financials
The table below sets the three credit rating, radiator and jeanswear stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| ICRA | 384 | 675 | 15.1% | 183 | 27.1% |
| Banco Products (India) | 1,963 | 3,995 | 19.4% | 482 | 12.1% |
| Kewal Kiran Clothing | 625 | 1,237 | 18.6% | 152 | 12.3% |
Banco Products (India) posts the highest return on equity in this group at 28.6%. Banco Products (India) combines the largest FY26 revenue at Rs 3,995 crore with the fastest revenue growth, a 19.4% compound annual rate. A useful habit with credit rating, radiator and jeanswear stocks is to check each new quarterly result against the capacity plans the company described earlier. Many investors spread money across several rating research, cooling system and denim stocks instead of one name, which keeps a single result from deciding the outcome.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| ICRA | 149 | 191 | 28.3% |
| Banco Products (India) | 984 | 1,190 | 20.9% |
| Kewal Kiran Clothing | 248 | 292 | 17.9% |
Key Risks to Check Before Investing in Credit Rating, Radiator and Jeanswear Stocks
Every theme carries risks that deserve a check before any decision. For these credit rating, radiator and jeanswear stocks, the main points are: Long-term financial services and consumer shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Market activity. Fee income follows trading volumes and investor participation.
- Production cycles. Vehicle output can vary with demand.
- Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter credit rating, radiator and jeanswear stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Credit Rating, Radiator and Jeanswear Stocks
Credit rating, radiator and jeanswear stocks work best when investors track growth, valuation and return on equity side by side. ICRA, Banco Products (India) and Kewal Kiran Clothing each have a clear plan to grow. Based on the 3 November 2026 close, ICRA trades at Rs 4,349.6, Banco Products (India) at Rs 593.85 and Kewal Kiran Clothing at Rs 431.7. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these credit rating, radiator and jeanswear stocks to a watchlist.
Download the Univest iOS App or Univest Android App to track credit rating, radiator and jeanswear stocks, set price alerts and get research-backed stock ideas.
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).
What are credit rating, radiator and jeanswear stocks?
Ans. Credit rating, radiator and jeanswear stocks are listed companies that rate debt and offer research and analytics, make radiators, heat exchangers and gaskets for vehicles and industry, and sell jeanswear and casual apparel through exclusive stores and multi-brand outlets. Their earnings depend on debt issuance, vehicle and industrial output and apparel spending. This list looks at three of them, ICRA, Banco Products (India) and Kewal Kiran Clothing, using reported FY22 to FY26 financials and the 3 November 2026 closing prices.
Which credit rating, radiator and jeanswear stocks are covered in this list?
Ans. This list covers ICRA, Banco Products (India) and Kewal Kiran Clothing. Based on the 3 November 2026 close, ICRA traded at Rs 4,349.6, Banco Products (India) at Rs 593.85 and Kewal Kiran Clothing at Rs 431.7. Their return on equity ranges from 15.4% to 28.6%, and their revenue compound annual growth from FY22 to FY26 ranges from 15.1% to 19.4%.
Why do credit rating, radiator and jeanswear stocks have a strong future roadmap in India?
Ans. Credit rating, radiator and jeanswear stocks have a strong roadmap in India because growing bond market activity, steady vehicle and industrial output and rising spending on branded apparel keep widening the market for these companies. The main drivers are as follows. Credit ratings. A deeper bond market needs independent opinions. Cooling systems. Engines and machines need heat management. Jeanswear. Branded stores reach young shoppers. Together these factors give the companies on this list a visible path for growth over the coming years.
How has ICRA performed financially?
Ans. Revenue rose from Rs 384 crore in FY22 to Rs 675 crore in FY26, a compound annual growth rate of 15.1%. Net profit grew from Rs 114 crore in FY22 to Rs 183 crore in FY26, which works out to a compound annual growth rate of 12.6%. In the June 2026 quarter, revenue grew 28.3% year on year to Rs 191 crore, while net profit rose 32.0% to Rs 56.5 crore. The company has a return on equity of 15.4%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 4,332 crore. The stock trades at a P/E of 22.1, below the industry P/E of 33.6. Looking ahead, a deepening bond market and rising bank credit generate more rating work, while its analytical and software services add diversification. Its association with a global rating group strengthens its brand with issuers.
How has Banco Products (India) performed financially?
Ans. Revenue rose from Rs 1,963 crore in FY22 to Rs 3,995 crore in FY26, a compound annual growth rate of 19.4%. Net profit grew from Rs 152 crore in FY22 to Rs 482 crore in FY26, which works out to a compound annual growth rate of 33.3%. In the June 2026 quarter, revenue grew 20.9% year on year to Rs 1,190 crore, while net profit rose 11.7% to Rs 122 crore. The company has a return on equity of 28.6%, a debt to equity ratio of 0.36 and a market capitalisation of Rs 8,345 crore. The stock trades at a P/E of 16.9, below the industry P/E of 35.2. Looking ahead, the company is growing its cooling systems range for commercial vehicles, off-highway machines and industrial uses and is widening its presence in overseas markets. Aftermarket sales add steady demand beyond new vehicle production.
How has Kewal Kiran Clothing performed financially?
Ans. Revenue rose from Rs 625 crore in FY22 to Rs 1,237 crore in FY26, a compound annual growth rate of 18.6%. Net profit grew from Rs 81.6 crore in FY22 to Rs 152 crore in FY26, which works out to a compound annual growth rate of 16.9%. In the June 2026 quarter, revenue grew 17.9% year on year to Rs 292 crore, while net profit rose 28.2% to Rs 41.0 crore. The company has a return on equity of 15.4%, a debt to equity ratio of 0.11 and a market capitalisation of Rs 2,588 crore. The stock trades at a P/E of 16.1, below the industry P/E of 33.8. Looking ahead, the company is widening its exclusive store network, building its newer brands and adding product categories beyond denim. Control over its own manufacturing helps it respond quickly to fashion trends, and a debt-light balance sheet supports store expansion.
What risks should investors check before buying credit rating, radiator and jeanswear stocks?
Ans. Investors should check a few risks before buying credit rating, radiator and jeanswear stocks. Market activity. Fee income follows trading volumes and investor participation. Production cycles. Vehicle output can vary with demand. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of credit rating, radiator and jeanswear stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 3 November 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.
