4 Midcap Growth at Reasonable Price Stocks to Watch for Future Multibagger Potential: Vedanta, Waaree Energies, SAIL and Patanjali Foods
- October 26, 2026
- Posted by: Manan Bisht
- Category: Best Stocks
Vedanta Rs 226.50. Waaree Energies Rs 2,354.90. SAIL Rs 164.34. Patanjali Foods Rs 349.75. Market caps from Rs 40,124 crore to Rs 96,235 crore. Data as of 23 Oct 2026.
Quick Answer
Vedanta, Waaree Energies, SAIL and Patanjali Foods are the 4 picks in this growth at reasonable price stocks watchlist, with market caps between Rs 40,124 crore and Rs 96,235 crore. Vedanta stands out for the lowest PE of the group at 3.37, while Waaree Energies offers the highest return on equity at 25.71%. PE ratios run from 3.37 to 20.37, so compare each one with its industry PE before investing. All figures are as of 23 October 2026.
Growth at reasonable price stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Vedanta, Waaree Energies, SAIL and Patanjali Foods meet that test, with market caps from Rs 40,124 crore to Rs 96,235 crore and Vedanta offering the lowest PE of the group at 3.37. Each of these companies has a market capitalisation between Rs 30,000 crore and Rs 1,00,000 crore and a PE ratio below 30 and FY26 profit growth of at least 20 per cent, and net profit rose in FY26 and in the latest quarter.
This list covers companies with a market capitalisation between Rs 30,000 crore and Rs 1,00,000 crore and a PE ratio below 30 and FY26 profit growth of at least 20 per cent, rising profit in FY26 and the latest quarter, and complete, verifiable financials, ranked by market capitalisation. Each company has a market cap between Rs 30,000 crore and Rs 1 lakh crore. Investors screening growth at reasonable price stocks usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 23 October 2026 and are drawn from NSE and BSE data and company filings.
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What Are Growth at Reasonable Price Stocks and Why Do They Attract Multibagger Interest?
Growth at reasonable price stocks are shares of mid sized companies that grow profit quickly yet trade at a moderate multiple of earnings. The four here cover diversified metals and mining, solar modules, steel and packaged foods.
Fast growth at a fair price is the balance that GARP investors look for. For growth at reasonable price stocks, both FY26 and the latest quarter showed growth. With growth at reasonable price stocks, comparing valuation, growth and balance sheet strength together works better than relying on one number. Every company in the table below passed a rising-profit check, and the figures for growth at reasonable price stocks are complete. Read each company’s latest results and exchange filings before acting on growth at reasonable price stocks.
Growth at Reasonable Price Stocks at a Glance: Price, Market Cap, PE and ROE
Prices are closing prices as of 23 October 2026. Vedanta has the lowest PE of the group at 3.37, while Waaree Energies posts the highest return on equity at 25.71%.
| Stock | CMP (Rs) | Market Cap (Rs Cr) | PE | Industry PE | ROE | Debt to Equity | 52-Week Range (Rs) |
|---|---|---|---|---|---|---|---|
| Vedanta | 226.50 | 96,235 | 3.37 | 12.27 | 9.55% | 0.56 | 226.50 to 795.00 |
| Waaree Energies | 2,354.90 | 71,640 | 17.90 | 45.89 | 25.71% | 0.22 | 2,281.80 to 3,718.80 |
| Steel Authority of India | 164.34 | 70,054 | 16.40 | 22.42 | 6.35% | 0.53 | 124.00 to 209.70 |
| Patanjali Foods | 349.75 | 40,124 | 20.37 | 34.68 | 15.37% | 0.21 | 328.20 to 614.05 |
Vedanta: Revenue Up 23.92% in FY26
Vedanta is a diversified natural resources company with operations in zinc, aluminium, oil and gas, copper and iron ore. It reported FY26 revenue of Rs 79,987 crore, up 23.92% year on year, and net profit of Rs 12,480 crore, up 34.54%. Operating margin was 31.43% in FY26.
In the June 2026 quarter, revenue rose 53.37% to Rs 24,747 crore and net profit grew 77.65% to Rs 7,918 crore. Foreign investors raised their holding from 10.60% in June 2025 to 15.77% in June 2026. The stock trades at a PE of 3.37 against an industry PE of 12.27, below the sector average.
Waaree Energies: Revenue Up 83.52% in FY26
Waaree Energies is one of India’s largest solar module makers by capacity and manufactures solar cells and modules. It reported FY26 revenue of Rs 27,244.92 crore, up 83.52% year on year, and net profit of Rs 3,884.15 crore, up 101.45%. Revenue has compounded at 74.31% a year since FY22. Operating margin was 23.82% in FY26. The debt-to-equity ratio is 0.22.
The stock trades at a PE of 17.90 against an industry PE of 45.89, below the sector average, with a return on equity of 25.71%. In the June 2026 quarter, revenue rose 76.25% to Rs 8,102.60 crore and net profit grew 15.39% to Rs 891.87 crore. Domestic institutions raised their holding from 2.82% in September 2025 to 4.09% in September 2026.
SAIL: Quarterly Profit Up 120.80%
Steel Authority of India is a government-owned steel maker with integrated plants at Bhilai, Bokaro, Durgapur, Rourkela and Burnpur. It reported FY26 revenue of Rs 1,11,705.02 crore, up 8.08% year on year, and net profit of Rs 3,372.80 crore, up 42.20%. Operating margin was 12.13% in FY26.
In the June 2026 quarter, revenue rose 1.41% to Rs 26,451.21 crore and net profit grew 120.80% to Rs 1,644.05 crore. The share price is up 29.40% over the past year. Foreign investors raised their holding from 3.65% in June 2025 to 7.09% in June 2026. The stock trades at a PE of 16.40 against an industry PE of 22.42, below the sector average.
Patanjali Foods: Quarterly Profit Up 86.14%
Patanjali Foods refines and sells edible oils and food products under brands such as Ruchi Gold and also runs an oil palm business. It reported FY26 revenue of Rs 40,347.78 crore, up 19.05% year on year, and net profit of Rs 1,814.47 crore, up 39.50%. Operating margin was 4.83% in FY26. The debt-to-equity ratio is 0.21.
The stock trades at a PE of 20.37 against an industry PE of 34.68, below the sector average, with a return on equity of 15.37%. In the June 2026 quarter, revenue rose 29.19% to Rs 11,341.89 crore and net profit grew 86.14% to Rs 335.73 crore. Domestic institutions raised their holding from 11.85% in September 2025 to 12.51% in September 2026.
Growth at Reasonable Price Stocks: Financial Comparison on Growth and Margins
The table compares scale and growth across these growth at reasonable price 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) | Latest Quarter Revenue Growth | Net Profit Growth (YoY) | Operating Margin (Latest Quarter) |
|---|---|---|---|---|---|---|
| Vedanta | 79,987 | 12,480 | 23.92% | 53.37% | 34.54% | 49.74% |
| Waaree Energies | 27,244.92 | 3,884.15 | 83.52% | 76.25% | 101.45% | 20.31% |
| SAIL | 1,11,705.02 | 3,372.80 | 8.08% | 1.41% | 42.20% | 16.16% |
| Patanjali Foods | 40,347.78 | 1,814.47 | 19.05% | 29.19% | 39.50% | 4.83% |
Check the Univest Screener for live data on these growth at reasonable price stocks
Institutional Holding in Vedanta, Waaree Energies, SAIL and Patanjali Foods
Institutional holding shows who is backing these growth at reasonable price stocks alongside the promoter. The table uses the latest reported quarter for each. Vedanta has the deepest institutional backing, with FII and DII together holding 26.60% as of June 2026. Domestic institutions increased their holding over the past year in Waaree Energies (from 2.82% to 4.09%) and Patanjali Foods (from 11.85% to 12.51%).
| Stock | Promoter | FII | DII | Public | Quarter |
|---|---|---|---|---|---|
| Vedanta | 54.72% | 15.77% | 10.83% | 18.67% | June 2026 |
| Waaree Energies | 64.12% | 8.57% | 4.09% | 23.22% | September 2026 |
| SAIL | 65.00% | 7.09% | 16.86% | 11.05% | June 2026 |
| Patanjali Foods | 68.25% | 7.24% | 12.51% | 12.00% | September 2026 |
Risks to Weigh in Growth at Reasonable Price Stocks
Being careful with growth at reasonable price 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: A low PE can also reflect slower growth, so compare each PE with the growth rate instead of reading it alone.
- Concentration: Holding all 4 names puts the allocation in one sector, so size each position to match your risk appetite.
How to Choose Between Growth at Reasonable Price Stocks
Picking from growth at reasonable price 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 (12.27 to 45.89) 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 growth at reasonable price stocks, Vedanta stands out for the lowest PE of the group at 3.37, Waaree Energies for the highest return on equity at 25.71%, SAIL for the strongest latest-quarter profit growth at 120.80% and Patanjali Foods for 19.05% revenue growth in FY26. 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 growth at reasonable price 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 Growth at Reasonable Price Stocks to Watch
Which are the best growth at reasonable price stocks to watch for multibagger potential?
Ans. Vedanta, Waaree Energies, SAIL and Patanjali Foods are the 4 names this list highlights, with market caps of Rs 96,235 crore, Rs 71,640 crore, Rs 70,054 crore and Rs 40,124 crore respectively. Vedanta is notable for the lowest PE of the group at 3.37. Waaree Energies stands out for the highest return on equity at 25.71%. SAIL offers the strongest latest-quarter profit growth at 120.80%. Patanjali Foods brings 19.05% revenue growth in FY26. These are watchlist names for growth at reasonable price stocks, not recommendations, so match each one to your own risk profile and time horizon.
Is Waaree Energies a good stock for long-term investors?
Ans. Waaree Energies has a return on equity of 25.71%, a PE of 17.90 against an industry PE of 45.89 and a market cap of Rs 71,640 crore. FY26 revenue rose 83.52%, and June 2026 quarter net profit grew 15.39%. Long-term returns in growth at reasonable price stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.
Can Patanjali Foods become a multibagger from here?
Ans. Patanjali Foods has a market cap of Rs 40,124 crore. A multibagger outcome in growth at reasonable price stocks requires earnings to keep growing faster than the market for several years. FY26 revenue rose 19.05%, and June 2026 quarter net profit grew 86.14%. At a PE of 20.37 against an industry PE of 34.68, valuation should be checked against that growth before investing.
What is the market cap of Vedanta, Waaree Energies, SAIL and Patanjali Foods?
Ans. As of 23 October 2026, Vedanta has a market cap of Rs 96,235 crore, Waaree Energies has a market cap of Rs 71,640 crore, SAIL has a market cap of Rs 70,054 crore and Patanjali Foods has a market cap of Rs 40,124 crore. All of them qualify as midcaps. 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 growth at reasonable price stocks.
What are the risks of investing in growth at reasonable price 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. Comparing each PE with growth gives a fuller picture than the PE alone.
Is Vedanta trading below its industry PE?
Ans. Vedanta trades at a PE of 3.37 against an industry PE of 12.27. A lower PE means investors pay less for each rupee of earnings, but it should be read with growth (FY26 revenue rose 23.92% and June 2026 quarter net profit grew 77.65%) and balance sheet strength before drawing a conclusion.
How much do institutions hold in Vedanta, Waaree Energies, SAIL and Patanjali Foods?
Ans. As of the latest reported quarter, FII and DII together hold 26.60% of Vedanta (15.77% and 10.83%), 12.66% of Waaree Energies (8.57% and 4.09%), 23.95% of SAIL (7.09% and 16.86%) and 19.75% of Patanjali Foods (7.24% and 12.51%). Rising institutional holding is a useful signal in growth at reasonable price stocks, though it should be read with earnings trends rather than on its own.
