4 Largecap Stocks With ROE Between 20 and 30 to Watch for Future Multibagger Potential: Bajaj Auto, Eicher Motors, Torrent Pharma and Trent
- October 21, 2026
- Posted by: Manan Bisht
- Category: Best Stocks
Bajaj Auto Rs 10,287. Eicher Motors Rs 7,349. Torrent Pharma Rs 4,558.70. Trent Rs 2,891.60. Market caps from Rs 1.57 lakh crore to Rs 2.81 lakh crore. Data as of 20 Oct 2026.
Quick Answer
Bajaj Auto, Eicher Motors, Torrent Pharma and Trent are the 4 picks in this stocks with ROE between 20 and 30 watchlist, with market caps between Rs 1.57 lakh crore and Rs 2.81 lakh crore. Bajaj Auto stands out for the highest return on equity at 27.67%, while Eicher Motors offers the fastest profit growth, 34.67% a year since FY22. PE ratios run from 24.36 to 86.64, so compare each one with its industry PE before investing. All figures are as of 20 October 2026.
Stocks with ROE between 20 and 30 to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Bajaj Auto, Eicher Motors, Torrent Pharma and Trent meet that test, with market caps from Rs 1.57 lakh crore to Rs 2.81 lakh crore and Bajaj Auto offering the highest return on equity at 27.67%. Each of these companies earned a return on equity between 20 and 30 per cent, and net profit grew by more than 10 per cent in FY26.
This list covers companies with a return on equity between 20 and 30 per cent, FY26 profit growth above 10 per cent and rising profit in the latest quarter, ranked by market capitalisation. Each company has a market cap above Rs 1 lakh crore. Investors screening stocks with ROE between 20 and 30 usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 20 October 2026 and are drawn from NSE and BSE data and company filings.
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What Are Stocks With ROE Between 20 and 30 and Why Do They Attract Multibagger Interest?
Stocks with ROE between 20 and 30 are shares of businesses that generate strong profit from every rupee of shareholder capital. The four here cover motorcycles, pharmaceuticals and fashion retail.
An ROE above 20 per cent is a mark of a high-quality business. For stocks with ROE between 20 and 30, investors compare how long a company can hold this level while growing. Investors researching stocks with ROE between 20 and 30 get a fuller picture by reading growth and valuation together. The table below lines up stocks with ROE between 20 and 30 on size, growth and valuation, using complete FY26 and latest quarter numbers. Past performance does not guarantee future returns, so use stocks with ROE between 20 and 30 as a starting point for your own research.
Stocks With ROE Between 20 and 30 at a Glance: Price, Market Cap, PE and ROE
Prices are closing prices as of 20 October 2026. Bajaj Auto combines the lowest PE of the group, 24.36, 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) |
|---|---|---|---|---|---|---|---|
| Bajaj Auto | 10,287 | 2,81,374 | 24.36 | 23.82 | 27.67% | 0.58 | 8,605.00 to 12,470.00 |
| Eicher Motors | 7,349 | 1,94,090 | 33.62 | 23.82 | 21.97% | 0.02 | 6,442.00 to 8,230.00 |
| Torrent Pharmaceuticals | 4,558.70 | 1,75,196 | 81.26 | 36.42 | 25.49% | 1.79 | 3,480.60 to 5,250.00 |
| Trent | 2,891.60 | 1,57,216 | 86.64 | 64.73 | 24.62% | 0.37 | 2,183.67 to 3,399.70 |
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 24.36 against an industry PE of 23.82, with a return on equity of 27.67%.
Eicher Motors: 34.67% Profit CAGR Since FY22
Eicher Motors owns the Royal Enfield brand of premium motorcycles and is a partner in the Eicher commercial vehicle business. It reported FY26 revenue of Rs 24,894.09 crore, up 23.39% year on year, and net profit of Rs 5,515.23 crore, up 16.49%. Net profit has compounded at 34.67% a year since FY22, while revenue has grown 23.39% a year. Operating margin was 34.24% in FY26. The debt-to-equity ratio is 0.02, which keeps interest costs low.
The stock trades at a PE of 33.62 against an industry PE of 23.82, with a return on equity of 21.97%. In the June 2026 quarter, revenue rose 29.35% to Rs 7,098.73 crore and net profit grew 21.35% to Rs 1,462.51 crore. The share price has gained 174.76% over five years.
Torrent Pharma: 28.79% Profit CAGR Since FY22
Torrent Pharmaceuticals makes branded medicines for chronic therapies such as cardiac, gastro-intestinal and central nervous system care in India and overseas. It reported FY26 revenue of Rs 13,886.15 crore, up 20.34% year on year, and net profit of Rs 2,138.18 crore, up 11.87%. Net profit has compounded at 28.79% a year since FY22, while revenue has grown 12.38% a year. Operating margin was 22.70% in FY26.
In the June 2026 quarter, revenue rose 56.29% to Rs 4,909 crore and net profit grew 3.28% to Rs 566 crore. The share price has gained 194.63% over five years and 29.72% over the past year. Domestic institutions raised their holding from 9.28% in September 2025 to 12.87% in July 2026. The stock trades at a PE of 81.26 against an industry PE of 36.42, with a return on equity of 25.49%.
Trent: Return on Equity of 24.62%
Trent runs the Westside, Zudio and Star retail chains selling fashion, apparel and grocery products. It reported FY26 revenue of Rs 20,189.05 crore, up 16.34% year on year, and net profit of Rs 1,721.33 crore, up 12.18%. Revenue has compounded at 44.17% a year since FY22. Operating margin was 17.91% in FY26. The debt-to-equity ratio is 0.37.
The stock trades at a PE of 86.64 against an industry PE of 64.73, with a return on equity of 24.62%. In the June 2026 quarter, revenue rose 17.47% to Rs 5,784.54 crore and net profit grew 21.98% to Rs 518.07 crore. The share price has gained 283.92% over five years. Domestic institutions raised their holding from 19.98% in September 2025 to 23.33% in September 2026.
Stocks With ROE Between 20 and 30: Financial Comparison on Growth and Margins
The table compares scale and growth across these stocks with ROE between 20 and 30. 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) |
|---|---|---|---|---|---|---|
| Bajaj Auto | 65,087.22 | 10,574.50 | 24.05% | 17.26% | 64.02% | 24.99% |
| Eicher Motors | 24,894.09 | 5,515.23 | 23.39% | 23.39% | 29.35% | 34.28% |
| Torrent Pharma | 13,886.15 | 2,138.18 | 20.34% | 12.38% | 56.29% | 33.73% |
| Trent | 20,189.05 | 1,721.33 | 16.34% | 44.17% | 17.47% | 19.97% |
Check the Univest Screener for live data on these stocks with ROE between 20 and 30
Institutional Holding in Bajaj Auto, Eicher Motors, Torrent Pharma and Trent
Institutional holding shows who is backing these stocks with ROE between 20 and 30 alongside the promoter. The table uses the latest reported quarter for each. Eicher Motors has the deepest institutional backing, with FII and DII together holding 41.59% as of June 2026. Domestic institutions increased their holding over the past year in Bajaj Auto (from 12.09% to 13.54%), Torrent Pharma (from 9.28% to 12.87%) and Trent (from 19.98% to 23.33%).
| Stock | Promoter | FII | DII | Public | Quarter |
|---|---|---|---|---|---|
| Bajaj Auto | 55.01% | 9.01% | 13.54% | 22.44% | June 2026 |
| Eicher Motors | 49.02% | 25.53% | 16.06% | 9.40% | June 2026 |
| Torrent Pharma | 60.78% | 17.97% | 12.87% | 8.38% | July 2026 |
| Trent | 37.01% | 15.28% | 23.33% | 24.39% | September 2026 |
Risks to Weigh in Stocks With ROE Between 20 and 30
Being careful with stocks with ROE between 20 and 30 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: Torrent Pharma trades at a PE of 81.26 against an industry PE of 36.42, 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 Stocks With ROE Between 20 and 30
Picking from stocks with ROE between 20 and 30 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 (23.82 to 64.73) 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 Bajaj Auto, Eicher Motors, Torrent Pharma and Trent live prices.
Conclusion
Among stocks with ROE between 20 and 30, Bajaj Auto stands out for the highest return on equity at 27.67%, Eicher Motors for the fastest profit growth, 34.67% a year since FY22, Torrent Pharma for 20.34% revenue growth in FY26 and Trent for the biggest five-year price gain at 283.92%. 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 stocks with ROE between 20 and 30 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 Stocks With ROE Between 20 and 30 to Watch
Which are the best stocks with ROE between 20 and 30 to watch for multibagger potential?
Ans. Bajaj Auto, Eicher Motors, Torrent Pharma and Trent are the 4 names this list highlights, with market caps of Rs 2,81,374 crore, Rs 1,94,090 crore, Rs 1,75,196 crore and Rs 1,57,216 crore respectively. Bajaj Auto is notable for the highest return on equity at 27.67%. Eicher Motors stands out for the fastest profit growth, 34.67% a year since FY22. Torrent Pharma offers 20.34% revenue growth in FY26. Trent brings the biggest five-year price gain at 283.92%. These are watchlist names for stocks with ROE between 20 and 30, 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 24.36 against an industry PE of 23.82 and a market cap of Rs 2,81,374 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 stocks with ROE between 20 and 30 depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.
Can Eicher Motors become a multibagger from here?
Ans. Eicher Motors has already gained 174.76% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in stocks with ROE between 20 and 30 requires earnings to keep growing faster than the market for several years. Net profit has compounded at 34.67% a year since FY22, and FY26 revenue rose 23.39%. At a PE of 33.62 against an industry PE of 23.82, valuation should be checked against that growth before investing.
What is the market cap of Bajaj Auto, Eicher Motors, Torrent Pharma and Trent?
Ans. As of 20 October 2026, Bajaj Auto has a market cap of Rs 2,81,374 crore, Eicher Motors has a market cap of Rs 1,94,090 crore, Torrent Pharma has a market cap of Rs 1,75,196 crore and Trent has a market cap of Rs 1,57,216 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 stocks with ROE between 20 and 30.
What are the risks of investing in stocks with ROE between 20 and 30?
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. Torrent Pharma trades at a PE of 81.26 against an industry PE of 36.42, so earnings growth needs to hold up.
Why is Torrent Pharma trading at a PE of 81.26?
Ans. Torrent Pharma’s PE of 81.26 compares with an industry PE of 36.42. The market is paying a premium for a return on equity of 25.49%, profit growth of 28.79% a year since FY22 and FY26 revenue growth of 20.34%, which also means the stock is more sensitive if growth slows. Investors in stocks with ROE between 20 and 30 who are comfortable with higher valuation risk may prefer to stagger purchases instead of investing in one go.
How much do institutions hold in Bajaj Auto, Eicher Motors, Torrent Pharma and Trent?
Ans. As of the latest reported quarter, FII and DII together hold 22.55% of Bajaj Auto (9.01% and 13.54%), 41.59% of Eicher Motors (25.53% and 16.06%), 30.84% of Torrent Pharma (17.97% and 12.87%) and 38.61% of Trent (15.28% and 23.33%). Rising institutional holding is a useful signal in stocks with ROE between 20 and 30, though it should be read with earnings trends rather than on its own.
