3 Hospitals Chain, Engineering and Construction Major and Pharmaceuticals Maker Stocks With a Strong Future Roadmap: Fortis Healthcare, Larsen & Toubro and Ajanta Pharma
- November 13, 2026
- Posted by: Lakshit Sharma
- Category: Best Stocks
Fortis Healthcare, Larsen & Toubro and Ajanta Pharma: ROE of 10.5% to 23.3% and FY22 to FY26 revenue CAGR of 12.4% to 16.4%. Prices as of 12 Nov 2026.
Quick Answer
The three hospital, engineering and pharma stocks to watch are Fortis Healthcare, Larsen & Toubro and Ajanta Pharma. Their return on equity ranges from 10.5% to 23.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 12.4% to 16.4%. Ajanta Pharma has the highest return on equity at 23.3%, while Larsen & Toubro has the fastest revenue growth at 16.4% a year. Prices are based on the 12 November 2026 close, and this article is educational, not investment advice.
Hospital, engineering and pharma stocks offer a focused view of a sector where demand keeps widening. Fortis Healthcare, Larsen & Toubro and Ajanta Pharma cover a hospitals chain, an engineering and construction major and a pharmaceuticals maker.
This list covers three hospital, engineering and pharma stocks with complete current figures: Fortis Healthcare, Larsen & Toubro and Ajanta Pharma. Every figure comes from the latest reported financials and the 12 November 2026 market close. Companies without complete current figures were left out.
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What Are Hospital, Engineering and Pharma Stocks?
Hospital, engineering and pharma stocks are listed companies that run multi speciality hospitals and diagnostic centres, build large infrastructure, defence and energy projects, and make branded medicines for chronic care. Their earnings depend on patient volumes, project orders and medicine demand.
Hospital, Engineering and Pharma Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Fortis Healthcare | 760 | 55,554 | 51.9 | 59.6 | 10.5 | 0.35 |
| Larsen & Toubro | 4,159.2 | 501,514 | 25.6 | 21.9 | 14.7 | 1.15 |
| Ajanta Pharma | 3,324 | 41,241 | 36.3 | 36.0 | 23.3 | 0.06 |
On valuation, Fortis Healthcare trades at a P/E below the industry P/E, while Larsen & Toubro and Ajanta Pharma trade above it, which reflects the growth the market already expects. Readers comparing hospital, engineering and pharma 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 hospital, engineering and pharma stocks can use the coming numbers to test whether growth is holding.
Why Do Hospital, Engineering and Pharma Stocks Have a Strong Roadmap in India?
Hospital, engineering and pharma stocks have a strong roadmap in India because rising need for quality hospital care, heavy infrastructure and defence spending and growing chronic care demand keep widening the market for these companies.
- Hospitals. Families seek quality specialist care.
- Engineering and construction. Large projects need proven builders.
- Pharmaceuticals. Chronic patients need regular medicines.
Why Fortis Healthcare Features Among These Hospital, Engineering and Pharma Stocks
Among the hospital, engineering and pharma stocks on this list, Fortis Healthcare operates a network of multi-specialty hospitals across India, with strengths in cardiac sciences, oncology, neurosciences and orthopaedics, and it also runs a diagnostics business.
The company has a return on equity of 10.5%, a debt to equity ratio of 0.35 and a market capitalisation of Rs 55,554 crore. The stock trades at a P/E of 51.9, below the industry P/E of 59.6.
Revenue rose from Rs 5,745 crore in FY22 to Rs 9,178 crore in FY26, a compound annual growth rate of 12.4%. Net profit grew from Rs 790 crore in FY22 to Rs 1,064 crore in FY26, which works out to a compound annual growth rate of 7.7%. In the June 2026 quarter, revenue grew 17.3% year on year to Rs 2,560 crore, while net profit rose 2.3% to Rs 273 crore.
Roadmap: The company is adding beds at existing hospitals and building new capacity in cities where demand for advanced care is rising. Its diagnostics arm and a growing share of complex procedures widen the earnings base beyond routine admissions.
What to watch: Track bed additions, occupancy and revenue per occupied bed.
Why Larsen & Toubro Features Among These Hospital, Engineering and Pharma Stocks
Among the healthcare network, construction major and medicine shares on this list, Larsen and Toubro is a Mumbai-based engineering and construction conglomerate that builds infrastructure, energy and defence projects and also runs technology services, financial services and electronics businesses.
Revenue rose from Rs 158,788 crore in FY22 to Rs 291,635 crore in FY26, a compound annual growth rate of 16.4%. Net profit grew from Rs 10,291 crore in FY22 to Rs 19,159 crore in FY26, which works out to a compound annual growth rate of 16.8%.
In the June 2026 quarter, revenue grew 8.1% year on year to Rs 70,318 crore, while net profit rose 15.2% to Rs 4,983 crore. The company has a return on equity of 14.7%, a debt to equity ratio of 1.15 and a market capitalisation of Rs 501,514 crore. The stock trades at a P/E of 25.6, above the industry P/E of 21.9.
Roadmap: The company has a very large order book across infrastructure, energy and hydrocarbon projects, supported by government capital spending. Its growing technology and green energy businesses widen its sources of growth.
What to watch: Monitor order inflows, project execution and government infrastructure spending.
Why Ajanta Pharma Features Among These Hospital, Engineering and Pharma Stocks
Among the three companies on this list, Ajanta Pharma is a specialty pharmaceutical company that sells branded generics in India and in emerging markets across Asia and Africa, with a focus on ophthalmology, dermatology, cardiology and pain management, and also sells generics in the United States.
In the June 2026 quarter, revenue grew 27.7% year on year to Rs 1,697 crore, while net profit rose 30.9% to Rs 334 crore. Revenue rose from Rs 3,457 crore in FY22 to Rs 5,625 crore in FY26, a compound annual growth rate of 12.9%.
Net profit grew from Rs 713 crore in FY22 to Rs 1,056 crore in FY26, which works out to a compound annual growth rate of 10.3%. The company has a return on equity of 23.3%, a debt to equity ratio of 0.06 and a market capitalisation of Rs 41,241 crore. The stock trades at a P/E of 36.3, above the industry P/E of 36.0.
Roadmap: The company concentrates on niche therapies where it holds leading positions and has a wide field force in India and Africa. A steady flow of new launches and a debt-free balance sheet support expansion in branded markets.
What to watch: Monitor the pace of new launches in branded markets and the momentum in the United States generics business.
Fortis Healthcare vs Larsen & Toubro vs Ajanta Pharma on Key Financials
The table below sets the three hospital, engineering and pharma 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 |
|---|---|---|---|---|---|
| Fortis Healthcare | 5,745 | 9,178 | 12.4% | 1,064 | 11.6% |
| Larsen & Toubro | 158,788 | 291,635 | 16.4% | 19,159 | 6.6% |
| Ajanta Pharma | 3,457 | 5,625 | 12.9% | 1,056 | 18.8% |
Ajanta Pharma posts the highest return on equity in this group at 23.3%. Larsen & Toubro combines the largest FY26 revenue at Rs 291,635 crore with the fastest revenue growth, a 16.4% compound annual rate. A useful habit with hospital, engineering and pharma stocks is to check each new quarterly result against the capacity plans the company described earlier.
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 |
|---|---|---|---|
| Fortis Healthcare | 2,182 | 2,560 | 17.3% |
| Larsen & Toubro | 65,036 | 70,318 | 8.1% |
| Ajanta Pharma | 1,329 | 1,697 | 27.7% |
Key Risks to Check Before Investing in Hospital, Engineering and Pharma Stocks
Every theme carries risks that deserve a check before any decision. For these hospital, engineering and pharma stocks, the main points are: Long-term healthcare network, construction major and medicine shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Capacity ramp up. New hospitals take time to fill beds and reach full returns.
- Order timing. Project awards can shift between periods.
- Regulatory approvals. Plant inspections and approvals can affect supplies.
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 hospital, engineering and pharma stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Hospital, Engineering and Pharma Stocks
Hospital, engineering and pharma stocks reward patient research into demand, execution and financial strength. Fortis Healthcare, Larsen & Toubro and Ajanta Pharma each have a clear plan to grow. Based on the 12 November 2026 close, Fortis Healthcare trades at Rs 760, Larsen & Toubro at Rs 4,159.2 and Ajanta Pharma at Rs 3,324. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these hospital, engineering and pharma stocks to a watchlist.
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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 hospital, engineering and pharma stocks?
Ans. Hospital, engineering and pharma stocks are listed companies that run multi speciality hospitals and diagnostic centres, build large infrastructure, defence and energy projects, and make branded medicines for chronic care. Their earnings depend on patient volumes, project orders and medicine demand. This list looks at three of them, Fortis Healthcare, Larsen & Toubro and Ajanta Pharma, using reported FY22 to FY26 financials and the 12 November 2026 closing prices.
Which hospital, engineering and pharma stocks are covered in this list?
Ans. This list covers Fortis Healthcare, Larsen & Toubro and Ajanta Pharma. Based on the 12 November 2026 close, Fortis Healthcare traded at Rs 760, Larsen & Toubro at Rs 4,159.2 and Ajanta Pharma at Rs 3,324. Their return on equity ranges from 10.5% to 23.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 12.4% to 16.4%.
Why do hospital, engineering and pharma stocks have a strong future roadmap in India?
Ans. Hospital, engineering and pharma stocks have a strong roadmap in India because rising need for quality hospital care, heavy infrastructure and defence spending and growing chronic care demand keep widening the market for these companies. The main drivers are as follows. Hospitals. Families seek quality specialist care. Engineering and construction. Large projects need proven builders. Pharmaceuticals. Chronic patients need regular medicines. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Fortis Healthcare performed financially?
Ans. Revenue rose from Rs 5,745 crore in FY22 to Rs 9,178 crore in FY26, a compound annual growth rate of 12.4%. Net profit grew from Rs 790 crore in FY22 to Rs 1,064 crore in FY26, which works out to a compound annual growth rate of 7.7%. In the June 2026 quarter, revenue grew 17.3% year on year to Rs 2,560 crore, while net profit rose 2.3% to Rs 273 crore. The company has a return on equity of 10.5%, a debt to equity ratio of 0.35 and a market capitalisation of Rs 55,554 crore. The stock trades at a P/E of 51.9, below the industry P/E of 59.6. Looking ahead, the company is adding beds at existing hospitals and building new capacity in cities where demand for advanced care is rising. Its diagnostics arm and a growing share of complex procedures widen the earnings base beyond routine admissions.
How has Larsen & Toubro performed financially?
Ans. Revenue rose from Rs 158,788 crore in FY22 to Rs 291,635 crore in FY26, a compound annual growth rate of 16.4%. Net profit grew from Rs 10,291 crore in FY22 to Rs 19,159 crore in FY26, which works out to a compound annual growth rate of 16.8%. In the June 2026 quarter, revenue grew 8.1% year on year to Rs 70,318 crore, while net profit rose 15.2% to Rs 4,983 crore. The company has a return on equity of 14.7%, a debt to equity ratio of 1.15 and a market capitalisation of Rs 501,514 crore. The stock trades at a P/E of 25.6, above the industry P/E of 21.9. Looking ahead, the company has a very large order book across infrastructure, energy and hydrocarbon projects, supported by government capital spending. Its growing technology and green energy businesses widen its sources of growth.
How has Ajanta Pharma performed financially?
Ans. Revenue rose from Rs 3,457 crore in FY22 to Rs 5,625 crore in FY26, a compound annual growth rate of 12.9%. Net profit grew from Rs 713 crore in FY22 to Rs 1,056 crore in FY26, which works out to a compound annual growth rate of 10.3%. In the June 2026 quarter, revenue grew 27.7% year on year to Rs 1,697 crore, while net profit rose 30.9% to Rs 334 crore. The company has a return on equity of 23.3%, a debt to equity ratio of 0.06 and a market capitalisation of Rs 41,241 crore. The stock trades at a P/E of 36.3, above the industry P/E of 36.0. Looking ahead, the company concentrates on niche therapies where it holds leading positions and has a wide field force in India and Africa. A steady flow of new launches and a debt-free balance sheet support expansion in branded markets.
What risks should investors check before buying hospital, engineering and pharma stocks?
Ans. Investors should check a few risks before buying hospital, engineering and pharma stocks. Capacity ramp up. New hospitals take time to fill beds and reach full returns. Order timing. Project awards can shift between periods. Regulatory approvals. Plant inspections and approvals can affect supplies. 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 hospital, engineering and pharma stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 12 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.