4 Largecap PEG Ratio 1 to 2 Stocks to Watch for Future Multibagger Potential: L&T, Adani Ports, Bajaj Auto and Polycab
- October 30, 2026
- Posted by: Manan Bisht
- Category: Best Stocks
L&T Rs 3,837.10. Adani Ports Rs 1,872. Bajaj Auto Rs 10,383. Polycab Rs 7,745. Market caps from Rs 1.25 lakh crore to Rs 5.28 lakh crore. Data as of 29 Oct 2026.
Quick Answer
L&T, Adani Ports, Bajaj Auto and Polycab are the 4 picks in this PEG ratio 1 to 2 stocks watchlist, with market caps between Rs 1.25 lakh crore and Rs 5.28 lakh crore. L&T stands out for the largest market cap at Rs 5,27,610 crore, while Adani Ports offers 26.16% revenue growth in FY26. PE ratios run from 24.91 to 43.02, 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. L&T, Adani Ports, Bajaj Auto and Polycab meet that test, with market caps from Rs 1.25 lakh crore to Rs 5.28 lakh crore and L&T offering the largest market cap at Rs 5,27,610 crore. Each of these companies has 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 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, 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 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 large 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 engineering and construction, ports, motorcycles and cables.
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. Investors researching PEG ratio 1 to 2 stocks get a fuller picture by reading growth and valuation together. The table below lines up PEG ratio 1 to 2 stocks on size, growth and valuation, using complete FY26 and latest quarter numbers. Past performance does not guarantee future returns, so use PEG ratio 1 to 2 stocks as a starting point for your own research.
PEG Ratio 1 to 2 Stocks at a Glance: Price, Market Cap, PE and ROE
Prices are closing prices as of 29 October 2026. Bajaj Auto combines the lowest PE of the group, 24.91, with the highest return on equity, 27.67%.
| Stock | CMP (Rs) | Market Cap (Rs Cr) | PE | Industry PE | ROE | Debt to Equity | 52-Week Range (Rs) |
|---|---|---|---|---|---|---|---|
| Larsen & Toubro | 3,837.10 | 5,27,610 | 26.88 | 22.89 | 14.72% | 1.15 | 3,288.10 to 4,440.00 |
| Adani Ports and Special Economic Zone | 1,872 | 4,30,759 | 32.83 | 31.83 | 13.32% | 0.66 | 1,292.00 to 1,891.10 |
| Bajaj Auto | 10,383 | 2,87,691 | 24.91 | 23.82 | 27.67% | 0.58 | 8,605.00 to 12,470.00 |
| Polycab India | 7,745 | 1,24,977 | 43.02 | 49.96 | 22.25% | 0.02 | 6,663.00 to 10,126.00 |
L&T: Five-Year Gain of 104.68%
Larsen & Toubro is the largest engineering and construction company in India, with additional businesses in IT services and infrastructure projects. It reported FY26 revenue of Rs 2,91,635.04 crore, up 12.23% year on year, and net profit of Rs 19,159.40 crore, up 8.32%. Net profit has compounded at 16.81% a year since FY22, while revenue has grown 16.41% a year. Operating margin was 14.13% in FY26.
In the June 2026 quarter, revenue rose 8.12% to Rs 70,318.47 crore and net profit grew 15.20% to Rs 4,982.85 crore. The share price has gained 104.68% over five years. The stock trades at a PE of 26.88 against an industry PE of 22.89, with a return on equity of 14.72%.
Adani Ports: 26.74% Profit CAGR Since FY22
Adani Ports and Special Economic Zone is India’s largest private port operator, with ports on both coasts and a growing logistics business. It reported FY26 revenue of Rs 40,854.36 crore, up 26.16% year on year, and net profit of Rs 12,782.03 crore, up 15.56%. Net profit has compounded at 26.74% a year since FY22, while revenue has grown 20.55% a year. Operating margin was 64.59% in FY26.
The stock trades at a PE of 32.83 against an industry PE of 31.83, with a return on equity of 13.32%. In the June 2026 quarter, revenue rose 23.90% to Rs 11,673.71 crore and net profit grew 10.24% to Rs 3,649.50 crore. The share price has gained 115.30% over five years and 17.95% over the past year. Foreign investors raised their holding from 13.61% in September 2025 to 15.95% in September 2026.
Bajaj Auto: Revenue Up 24.05% in FY26
Bajaj Auto makes motorcycles, three-wheelers and electric two-wheelers, and has a large export business. It reported FY26 revenue of Rs 65,087.22 crore, up 24.05% year on year, and net profit of Rs 10,574.50 crore, up 44.37%. Net profit has compounded at 14.44% a year since FY22, while revenue has grown 17.26% a year. Operating margin was 25.06% in FY26.
In the June 2026 quarter, revenue rose 64.02% to Rs 22,376.69 crore and net profit grew 44.26% to Rs 3,188.75 crore. The share price has gained 165.89% over five years and 13.76% over the past year. Domestic institutions raised their holding from 12.09% in June 2025 to 13.54% in June 2026. The stock trades at a PE of 24.91 against an industry PE of 23.82, with a return on equity of 27.67%.
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.
The stock trades at a PE of 43.02 against an industry PE of 49.96, below the sector average, with a return on equity of 22.25%. 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.
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) |
|---|---|---|---|---|---|---|
| L&T | 2,91,635.04 | 19,159.40 | 12.23% | 16.41% | 16.81% | 15.49% |
| Adani Ports | 40,854.36 | 12,782.03 | 26.16% | 20.55% | 26.74% | 65.67% |
| Bajaj Auto | 65,087.22 | 10,574.50 | 24.05% | 17.26% | 14.44% | 24.99% |
| Polycab | 29,120.04 | 2,708.43 | 28.76% | 24.06% | 33.79% | 15.12% |
Check the Univest Screener for live data on these PEG ratio 1 to 2 stocks
Institutional Holding in L&T, Adani Ports, Bajaj Auto and Polycab
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. L&T has the deepest institutional backing, with FII and DII together holding 62.15% as of June 2026. Domestic institutions increased their holding over the past year in Bajaj Auto (from 12.09% to 13.54%).
| Stock | Promoter | FII | DII | Public | Quarter |
|---|---|---|---|---|---|
| L&T | Nil | 19.13% | 43.02% | 37.85% | June 2026 |
| Adani Ports | 66.03% | 15.95% | 13.25% | 4.77% | September 2026 |
| Bajaj Auto | 55.01% | 9.01% | 13.54% | 22.44% | June 2026 |
| Polycab | 61.46% | 19.00% | 7.62% | 11.92% | 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: L&T trades at a PE of 26.88 against an industry PE of 22.89, 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 49.96) 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, L&T stands out for the largest market cap at Rs 5,27,610 crore, Adani Ports for 26.16% revenue growth in FY26, Bajaj Auto for the highest return on equity at 27.67% and Polycab for the fastest profit growth, 33.79% 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. L&T, Adani Ports, Bajaj Auto and Polycab are the 4 names this list highlights, with market caps of Rs 5,27,610 crore, Rs 4,30,759 crore, Rs 2,87,691 crore and Rs 1,24,977 crore respectively. L&T is notable for the largest market cap at Rs 5,27,610 crore. Adani Ports stands out for 26.16% revenue growth in FY26. Bajaj Auto offers the highest return on equity at 27.67%. Polycab brings the fastest profit growth, 33.79% 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 Bajaj Auto a good stock for long-term investors?
Ans. Bajaj Auto has a return on equity of 27.67%, a PE of 24.91 against an industry PE of 23.82 and a market cap of Rs 2,87,691 crore. Net profit has compounded at 14.44% a year since FY22, and FY26 revenue rose 24.05% while June 2026 quarter net profit grew 44.26%. 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 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 PEG ratio 1 to 2 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 43.02 against an industry PE of 49.96, valuation should be checked against that growth before investing.
What is the market cap of L&T, Adani Ports, Bajaj Auto and Polycab?
Ans. As of 29 October 2026, L&T has a market cap of Rs 5,27,610 crore, Adani Ports has a market cap of Rs 4,30,759 crore, Bajaj Auto has a market cap of Rs 2,87,691 crore and Polycab has a market cap of Rs 1,24,977 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 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. L&T trades at a PE of 26.88 against an industry PE of 22.89, so earnings growth needs to hold up.
Is Bajaj Auto trading below its industry PE?
Ans. Bajaj Auto trades at a PE of 24.91 against an industry PE of 23.82. A lower PE means investors pay less for each rupee of earnings, but it should be read with growth (net profit has compounded at 14.44% a year since FY22 and FY26 revenue rose 24.05%) and balance sheet strength before drawing a conclusion.
How much do institutions hold in L&T, Adani Ports, Bajaj Auto and Polycab?
Ans. As of the latest reported quarter, FII and DII together hold 62.15% of L&T (19.13% and 43.02%), 29.20% of Adani Ports (15.95% and 13.25%), 22.55% of Bajaj Auto (9.01% and 13.54%) and 26.62% of Polycab (19.00% and 7.62%). 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.
