4 Midcap Three Year Stocks to Watch for Future Multibagger Potential: Radico Khaitan, Kalyan Jewellers, Navin Fluorine and Dr Lal PathLabs
- October 26, 2026
- Posted by: Manan Bisht
- Category: Best Stocks
Radico Khaitan Rs 4,157.30. Kalyan Jewellers Rs 512. Navin Fluorine Rs 7,668.50. Dr Lal PathLabs Rs 1,838.20. Market caps from Rs 31,324 crore to Rs 58,439 crore. Data as of 23 Oct 2026.
Quick Answer
Radico Khaitan, Kalyan Jewellers, Navin Fluorine and Dr Lal PathLabs are the 4 picks in this three year stocks watchlist, with market caps between Rs 31,324 crore and Rs 58,439 crore. Radico Khaitan stands out for the largest market cap at Rs 58,439 crore, while Kalyan Jewellers offers the highest return on equity at 21.41%. PE ratios run from 37.30 to 83.06, so compare each one with its industry PE before investing. All figures are as of 23 October 2026.
Three year stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Radico Khaitan, Kalyan Jewellers, Navin Fluorine and Dr Lal PathLabs meet that test, with market caps from Rs 31,324 crore to Rs 58,439 crore and Radico Khaitan offering the largest market cap at Rs 58,439 crore. Each of these companies has a market capitalisation between Rs 30,000 crore and Rs 1,00,000 crore and a positive one-year return, a return on equity of at least 15 per cent and latest quarter revenue growth of at least 10 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 positive one-year return, a return on equity of at least 15 per cent and latest quarter revenue growth of at least 10 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 three year 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 Three Year Stocks and Why Do They Attract Multibagger Interest?
Three year stocks are shares of mid sized companies with rising prices, strong returns and fast-growing sales, which suits a medium-term holding of about three years. The four here cover spirits, jewellery, specialty chemicals and diagnostics.
Three years is enough time for rising sales to show up in profit and price. For three year stocks, both FY26 and the latest quarter showed growth. For three year stocks, checking each result against the latest quarter matters more than any single ratio. The next sections explain what stands out in each of three year stocks, using FY26 and latest quarter data. Prices move daily, so recheck the figures for three year stocks before you decide.
Three Year Stocks at a Glance: Price, Market Cap, PE and ROE
Prices are closing prices as of 23 October 2026. Kalyan Jewellers combines the lowest PE of the group, 37.30, with the highest return on equity, 21.41%.
| Stock | CMP (Rs) | Market Cap (Rs Cr) | PE | Industry PE | ROE | Debt to Equity | 52-Week Range (Rs) |
|---|---|---|---|---|---|---|---|
| Radico Khaitan | 4,157.30 | 58,439 | 83.06 | 54.95 | 18.23% | 0.15 | 2,500.00 to 4,747.00 |
| Kalyan Jewellers India | 512 | 53,508 | 37.30 | 46.75 | 21.41% | 0.97 | 327.05 to 648.95 |
| Navin Fluorine International | 7,668.50 | 39,776 | 50.37 | 36.42 | 16.69% | 0.32 | 4,772.20 to 8,949.50 |
| Dr Lal PathLabs | 1,838.20 | 31,324 | 57.34 | 60.75 | 20.13% | 0.08 | 1,272.60 to 2,038.60 |
Radico Khaitan: 24.88% Profit CAGR Since FY22
Radico Khaitan makes Indian-made foreign liquor and premium spirits, with brands including Magic Moments, 8PM and Rampur Single Malt. It reported FY26 revenue of Rs 6,062.27 crore, up 24.84% year on year, and net profit of Rs 604.48 crore, up 74.90%. Net profit has compounded at 24.88% a year since FY22, while revenue has grown 20.50% a year. Operating margin was 4.88% in FY26. The debt-to-equity ratio is 0.15, which keeps interest costs low.
In the June 2026 quarter, revenue rose 10.44% to Rs 5,869.46 crore and net profit grew 75.91% to Rs 229.60 crore. The share price has gained 299.58% over five years and 51.47% over the past year. Domestic institutions raised their holding from 25.47% in September 2025 to 27.17% in September 2026. The stock trades at a PE of 83.06 against an industry PE of 54.95, with a return on equity of 18.23%.
Kalyan Jewellers: 56.69% Profit CAGR Since FY22
Kalyan Jewellers is one of the largest jewellery retailers in India, with showrooms across India and the Middle East. It reported FY26 revenue of Rs 35,950.88 crore, up 42.72% year on year, and net profit of Rs 1,350.39 crore, up 89.09%. Net profit has compounded at 56.69% a year since FY22, while revenue has grown 34.90% a year. Operating margin was 7.62% in FY26.
The stock trades at a PE of 37.30 against an industry PE of 46.75, below the sector average, with a return on equity of 21.41%. In the June 2026 quarter, revenue rose 45.52% to Rs 10,644.67 crore and net profit grew 32.03% to Rs 348.67 crore. The share price has gained 618.28% over five years and 14.90% over the past year. Promoters hold 62.85%, which keeps ownership stable.
Navin Fluorine: 26.02% Profit CAGR Since FY22
Navin Fluorine International makes specialty fluorochemicals, refrigerant gases and contract research and manufacturing services. It reported FY26 revenue of Rs 3,379.19 crore, up 41.20% year on year, and net profit of Rs 663.56 crore, up 129.92%. Net profit has compounded at 26.02% a year since FY22, while revenue has grown 22.66% a year. Operating margin was 34.41% in FY26. The debt-to-equity ratio is 0.32.
In the June 2026 quarter, revenue rose 46.11% to Rs 1,080.17 crore and net profit grew 107.66% to Rs 243.31 crore. The share price has gained 111.47% over five years and 61.62% over the past year. Foreign investors raised their holding from 21.98% in July 2025 to 23.73% in June 2026. The stock trades at a PE of 50.37 against an industry PE of 36.42, with a return on equity of 16.69%.
Dr Lal PathLabs: Return on Equity of 20.13%
Dr Lal PathLabs is one of India’s leading diagnostic chains, running laboratories and collection centres across the country. It reported FY26 revenue of Rs 2,864.18 crore, up 12.11% year on year, and net profit of Rs 509.75 crore, up 3.56%. Net profit has compounded at 9.83% a year since FY22, while revenue has grown 7.56% a year. Operating margin was 30.90% in FY26. The debt-to-equity ratio is 0.08, which keeps interest costs low.
The stock trades at a PE of 57.34 against an industry PE of 60.75, below the sector average, with a return on equity of 20.13%. In the June 2026 quarter, revenue rose 18.87% to Rs 829.60 crore and net profit grew 27.24% to Rs 170.50 crore. The share price is up 19.11% over the past year. Domestic institutions raised their holding from 17.91% in June 2025 to 21.59% in June 2026.
Three Year Stocks: Financial Comparison on Growth and Margins
The table compares scale and growth across these three year 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) |
|---|---|---|---|---|---|---|
| Radico Khaitan | 6,062.27 | 604.48 | 24.84% | 20.50% | 24.88% | 6.10% |
| Kalyan Jewellers | 35,950.88 | 1,350.39 | 42.72% | 34.90% | 56.69% | 6.50% |
| Navin Fluorine | 3,379.19 | 663.56 | 41.20% | 22.66% | 26.02% | 37.52% |
| Dr Lal PathLabs | 2,864.18 | 509.75 | 12.11% | 7.56% | 9.83% | 35.03% |
Check the Univest Screener for live data on these three year stocks
Institutional Holding in Radico Khaitan, Kalyan Jewellers, Navin Fluorine and Dr Lal PathLabs
Institutional holding shows who is backing these three year stocks alongside the promoter. The table uses the latest reported quarter for each. Navin Fluorine has the deepest institutional backing, with FII and DII together holding 52.19% as of June 2026. Domestic institutions increased their holding over the past year in Radico Khaitan (from 25.47% to 27.17%) and Dr Lal PathLabs (from 17.91% to 21.59%).
| Stock | Promoter | FII | DII | Public | Quarter |
|---|---|---|---|---|---|
| Radico Khaitan | 40.17% | 19.43% | 27.17% | 13.23% | September 2026 |
| Kalyan Jewellers | 62.85% | 13.83% | 14.41% | 8.91% | September 2026 |
| Navin Fluorine | 27.08% | 23.73% | 28.46% | 20.73% | June 2026 |
| Dr Lal PathLabs | 53.19% | 17.36% | 21.59% | 7.86% | June 2026 |
Risks to Weigh in Three Year Stocks
Being careful with three year 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: Radico Khaitan trades at a PE of 83.06 against an industry PE of 54.95, 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 Three Year Stocks
Picking from three year 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 (36.42 to 60.75) 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 Radico Khaitan, Kalyan Jewellers, Navin Fluorine and Dr Lal PathLabs live prices.
Conclusion
Among three year stocks, Radico Khaitan stands out for the largest market cap at Rs 58,439 crore, Kalyan Jewellers for the highest return on equity at 21.41%, Navin Fluorine for the strongest latest-quarter profit growth at 107.66% and Dr Lal PathLabs for a nearly debt-free balance sheet, with a debt-to-equity ratio of 0.08. 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 three year 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 Three Year Stocks to Watch
Which are the best three year stocks to watch for multibagger potential?
Ans. Radico Khaitan, Kalyan Jewellers, Navin Fluorine and Dr Lal PathLabs are the 4 names this list highlights, with market caps of Rs 58,439 crore, Rs 53,508 crore, Rs 39,776 crore and Rs 31,324 crore respectively. Radico Khaitan is notable for the largest market cap at Rs 58,439 crore. Kalyan Jewellers stands out for the highest return on equity at 21.41%. Navin Fluorine offers the strongest latest-quarter profit growth at 107.66%. Dr Lal PathLabs brings a nearly debt-free balance sheet, with a debt-to-equity ratio of 0.08. These are watchlist names for three year stocks, not recommendations, so match each one to your own risk profile and time horizon.
Is Kalyan Jewellers a good stock for long-term investors?
Ans. Kalyan Jewellers has a return on equity of 21.41%, a PE of 37.30 against an industry PE of 46.75 and a market cap of Rs 53,508 crore. Net profit has compounded at 56.69% a year since FY22, and FY26 revenue rose 42.72% while June 2026 quarter net profit grew 32.03%. Long-term returns in three year stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.
Can Navin Fluorine become a multibagger from here?
Ans. Navin Fluorine has already gained 111.47% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in three year stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 26.02% a year since FY22, and FY26 revenue rose 41.20%. At a PE of 50.37 against an industry PE of 36.42, valuation should be checked against that growth before investing.
What is the market cap of Radico Khaitan, Kalyan Jewellers, Navin Fluorine and Dr Lal PathLabs?
Ans. As of 23 October 2026, Radico Khaitan has a market cap of Rs 58,439 crore, Kalyan Jewellers has a market cap of Rs 53,508 crore, Navin Fluorine has a market cap of Rs 39,776 crore and Dr Lal PathLabs has a market cap of Rs 31,324 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 three year stocks.
What are the risks of investing in three year 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. Radico Khaitan trades at a PE of 83.06 against an industry PE of 54.95, so earnings growth needs to hold up.
Why is Radico Khaitan trading at a PE of 83.06?
Ans. Radico Khaitan’s PE of 83.06 compares with an industry PE of 54.95. The market is paying a premium for a return on equity of 18.23%, profit growth of 24.88% a year since FY22 and latest-quarter profit growth of 75.91%, which also means the stock is more sensitive if growth slows. Investors in three year 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 Radico Khaitan, Kalyan Jewellers, Navin Fluorine and Dr Lal PathLabs?
Ans. As of the latest reported quarter, FII and DII together hold 46.60% of Radico Khaitan (19.43% and 27.17%), 28.24% of Kalyan Jewellers (13.83% and 14.41%), 52.19% of Navin Fluorine (23.73% and 28.46%) and 38.95% of Dr Lal PathLabs (17.36% and 21.59%). Rising institutional holding is a useful signal in three year stocks, though it should be read with earnings trends rather than on its own.
