4 Midcap High Revenue CAGR Stocks to Watch for Future Multibagger Potential: Ashok Leyland, Federal Bank, Waaree Energies and Nippon Life India AMC
- October 27, 2026
- Posted by: Manan Bisht
- Category: Best Stocks
Ashok Leyland Rs 141.90. Federal Bank Rs 344.40. Waaree Energies Rs 2,319. Nippon Life India AMC Rs 919.10. Market caps from Rs 63,904 crore to Rs 84,474 crore. Data as of 26 Oct 2026.
Quick Answer
Ashok Leyland, Federal Bank, Waaree Energies and Nippon Life India AMC are the 4 picks in this high revenue CAGR stocks watchlist, with market caps between Rs 63,904 crore and Rs 84,474 crore. Ashok Leyland stands out for the largest market cap at Rs 84,474 crore, while Federal Bank offers the fastest profit growth, 22.90% a year since FY22. PE ratios run from 15.32 to 39.03, so compare each one with its industry PE before investing. All figures are as of 26 October 2026.
High revenue CAGR stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Ashok Leyland, Federal Bank, Waaree Energies and Nippon Life India AMC meet that test, with market caps from Rs 63,904 crore to Rs 84,474 crore and Ashok Leyland offering the largest market cap at Rs 84,474 crore. Each of these companies has a market capitalisation between Rs 30,000 crore and Rs 1,00,000 crore and sales compounding at 15 per cent or more a year over the four years to FY26 and a return on equity of at least 12 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 sales compounding at 15 per cent or more a year over the four years to FY26 and a return on equity of at least 12 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 high revenue CAGR stocks usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 26 October 2026 and are drawn from NSE and BSE data and company filings.
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What Are High Revenue CAGR Stocks and Why Do They Attract Multibagger Interest?
High revenue CAGR stocks are shares of mid sized companies whose sales have compounded at 15 per cent or more a year over four years, a sign that customers keep choosing them. The four here cover commercial vehicles, private banking, solar modules and asset management.
Steady sales growth over several years shows rising demand and market share, the base that profit growth is built on. For high revenue CAGR stocks, both FY26 and the latest quarter showed growth. Whichever way you read high revenue CAGR stocks, the common thread is rising profit backed by complete financial data. A sensible way to study high revenue CAGR stocks is to look at profit growth, returns and valuation side by side. Below, each of high revenue CAGR stocks gets its own breakdown of growth, returns and valuation. Treat high revenue CAGR stocks as a research list, since share prices and rankings change with every earnings season.
High Revenue CAGR Stocks at a Glance: Price, Market Cap, PE, ROE and Price to Book
Prices are closing prices as of 26 October 2026. Federal Bank has the lowest PE of the group at 15.32, while Nippon Life India AMC posts the highest return on equity at 32.83%.
| Stock | CMP (Rs) | Market Cap (Rs Cr) | PE | Industry PE | ROE | Price to Book | 52-Week Range (Rs) |
|---|---|---|---|---|---|---|---|
| Ashok Leyland | 141.90 | 84,474 | 22.65 | 23.62 | 24.37% | 5.93 | 134.21 to 215.42 |
| Federal Bank | 344.40 | 82,518 | 15.32 | 11.94 | 12.60% | 2.00 | 211.52 to 371.70 |
| Waaree Energies | 2,319 | 70,098 | 17.51 | 45.89 | 25.71% | 4.85 | 2,281.80 to 3,718.80 |
| Nippon Life India Asset Management | 919.10 | 63,904 | 39.03 | 17.70 | 32.83% | 13.71 | 795.80 to 1,269.50 |
Ashok Leyland: Return on Equity of 24.37%
Ashok Leyland makes trucks, buses and defence vehicles and is among the largest commercial vehicle makers in India. It reported FY26 revenue of Rs 56,946.90 crore, up 16.47% year on year, and net profit of Rs 3,720.98 crore, up 10.00%. Revenue has compounded at 21.28% a year since FY22. Operating margin was 19.17% in FY26.
In the June 2026 quarter, revenue rose 12.29% to Rs 13,258.24 crore and net profit grew 1.53% to Rs 667.77 crore. The share price has gained 106.37% over five years. Domestic institutions raised their holding from 13.61% in July 2025 to 15.76% in June 2026. The stock trades at a PE of 22.65 against an industry PE of 23.62, below the sector average, with a return on equity of 24.37%. The dividend yield is 2.43%.
Federal Bank: 22.90% Profit CAGR Since FY22
Federal Bank is a Kerala-based private sector bank with a strong NRI deposit base and a growing retail, small business and digital franchise. It reported FY26 total income of Rs 34,272.42 crore, up 7.00% year on year, and net profit of Rs 4,483.38 crore, up 6.71%. Net profit has compounded at 22.90% a year since FY22, while total income has grown 20.05% a year.
The stock trades at a PE of 15.32 against an industry PE of 11.94, with a return on equity of 12.60%. In the September 2026 quarter, total income rose 19.01% to Rs 9,903.41 crore and net profit grew 53.42% to Rs 1,564.06 crore. The share price has gained 259.57% over five years and 57.58% over the past year. Domestic institutions raised their holding from 48.17% in June 2025 to 49.28% in June 2026.
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.
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. The stock trades at a PE of 17.51 against an industry PE of 45.89, below the sector average, with a return on equity of 25.71%.
Nippon Life India AMC: Return on Equity of 32.83%
Nippon Life India Asset Management is one of the largest mutual fund houses in India and also runs ETFs and portfolio management services. It reported FY26 revenue of Rs 2,933.07 crore, up 16.36% year on year, and net profit of Rs 1,528.13 crore, up 18.85%. Net profit has compounded at 19.74% a year since FY22, while revenue has grown 17.56% a year. Operating margin was 68.84% in FY26. The debt-to-equity ratio is 0.02, which keeps interest costs low.
The stock trades at a PE of 39.03 against an industry PE of 17.70, with a return on equity of 32.83%. The dividend yield is 2.15%. In the June 2026 quarter, revenue rose 24.51% to Rs 937.08 crore and net profit grew 27.15% to Rs 503.09 crore. The share price has gained 131.06% over five years and 20.07% over the past year. Domestic institutions raised their holding from 13.45% in June 2025 to 15.49% in June 2026.
High Revenue CAGR Stocks: Financial Comparison on Growth and Margins
The table compares scale and growth across these high revenue CAGR 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 | Latest Quarter Revenue Growth |
|---|---|---|---|---|---|
| Ashok Leyland | 56,946.90 | 3,720.98 | 16.47% | 21.28% | 12.29% |
| Federal Bank | 34,272.42 | 4,483.38 | 7.00% | 20.05% | 19.01% |
| Waaree Energies | 27,244.92 | 3,884.15 | 83.52% | 74.31% | 76.25% |
| Nippon Life India AMC | 2,933.07 | 1,528.13 | 16.36% | 17.56% | 24.51% |
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Institutional Holding in Ashok Leyland, Federal Bank, Waaree Energies and Nippon Life India AMC
Institutional holding shows who is backing these high revenue CAGR stocks alongside the promoter. The table uses the latest reported quarter for each. Federal Bank has the deepest institutional backing, with FII and DII together holding 76.99% as of June 2026. Domestic institutions increased their holding over the past year in Ashok Leyland (from 13.61% to 15.76%), Federal Bank (from 48.17% to 49.28%), Waaree Energies (from 2.82% to 4.09%) and Nippon Life India AMC (from 13.45% to 15.49%).
| Stock | Promoter | FII | DII | Public | Quarter |
|---|---|---|---|---|---|
| Ashok Leyland | 51.51% | 20.68% | 15.76% | 12.05% | June 2026 |
| Federal Bank | Nil | 27.71% | 49.28% | 23.01% | June 2026 |
| Waaree Energies | 64.12% | 8.57% | 4.09% | 23.22% | September 2026 |
| Nippon Life India AMC | 71.80% | 7.04% | 15.49% | 5.67% | June 2026 |
Risks to Weigh in High Revenue CAGR Stocks
Being careful with high revenue CAGR 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: Nippon Life India AMC trades at a PE of 39.03 against an industry PE of 17.70, 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 High Revenue CAGR Stocks
Picking from high revenue CAGR 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 (11.94 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 high revenue CAGR stocks, Ashok Leyland stands out for the largest market cap at Rs 84,474 crore, Federal Bank for the fastest profit growth, 22.90% a year since FY22, Waaree Energies for 83.52% revenue growth in FY26 and Nippon Life India AMC for the highest return on equity at 32.83%. 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 high revenue CAGR 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 High Revenue CAGR Stocks to Watch
Which are the best high revenue CAGR stocks to watch for multibagger potential?
Ans. Ashok Leyland, Federal Bank, Waaree Energies and Nippon Life India AMC are the 4 names this list highlights, with market caps of Rs 84,474 crore, Rs 82,518 crore, Rs 70,098 crore and Rs 63,904 crore respectively. Ashok Leyland is notable for the largest market cap at Rs 84,474 crore. Federal Bank stands out for the fastest profit growth, 22.90% a year since FY22. Waaree Energies offers 83.52% revenue growth in FY26. Nippon Life India AMC brings the highest return on equity at 32.83%. These are watchlist names for high revenue CAGR stocks, not recommendations, so match each one to your own risk profile and time horizon.
Is Nippon Life India AMC a good stock for long-term investors?
Ans. Nippon Life India AMC has a return on equity of 32.83%, a PE of 39.03 against an industry PE of 17.70 and a market cap of Rs 63,904 crore. Net profit has compounded at 19.74% a year since FY22, and FY26 revenue rose 16.36% while June 2026 quarter net profit grew 27.15%. Long-term returns in high revenue CAGR stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.
Can Federal Bank become a multibagger from here?
Ans. Federal Bank has already gained 259.57% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in high revenue CAGR stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 22.90% a year since FY22, and FY26 revenue rose 7.00%. At a PE of 15.32 against an industry PE of 11.94, valuation should be checked against that growth before investing.
What is the market cap of Ashok Leyland, Federal Bank, Waaree Energies and Nippon Life India AMC?
Ans. As of 26 October 2026, Ashok Leyland has a market cap of Rs 84,474 crore, Federal Bank has a market cap of Rs 82,518 crore, Waaree Energies has a market cap of Rs 70,098 crore and Nippon Life India AMC has a market cap of Rs 63,904 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 high revenue CAGR stocks.
What are the risks of investing in high revenue CAGR 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. Nippon Life India AMC trades at a PE of 39.03 against an industry PE of 17.70, so earnings growth needs to hold up.
Why is Nippon Life India AMC trading at a PE of 39.03?
Ans. Nippon Life India AMC’s PE of 39.03 compares with an industry PE of 17.70. The market is paying a premium for a return on equity of 32.83%, profit growth of 19.74% a year since FY22 and latest-quarter profit growth of 27.15%, which also means the stock is more sensitive if growth slows. Investors in high revenue CAGR stocks who are comfortable with higher valuation risk may prefer to stagger purchases instead of investing in one go.
How much do institutions hold in Ashok Leyland, Federal Bank, Waaree Energies and Nippon Life India AMC?
Ans. As of the latest reported quarter, FII and DII together hold 36.44% of Ashok Leyland (20.68% and 15.76%), 76.99% of Federal Bank (27.71% and 49.28%), 12.66% of Waaree Energies (8.57% and 4.09%) and 22.53% of Nippon Life India AMC (7.04% and 15.49%). Rising institutional holding is a useful signal in high revenue CAGR stocks, though it should be read with earnings trends rather than on its own.
