{"id":327652,"date":"2026-10-27T10:02:26","date_gmt":"2026-10-27T04:32:26","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=327652"},"modified":"2026-10-27T10:02:26","modified_gmt":"2026-10-27T04:32:26","slug":"largecap-operating-margin-above-20-per-cent-stocks-to-watch-multibagger-potential","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/largecap-operating-margin-above-20-per-cent-stocks-to-watch-multibagger-potential\/","title":{"rendered":"4 Largecap Operating Margin Above 20 Per Cent Stocks to Watch for Future Multibagger Potential: Adani Ports, HAL, Eicher Motors and Cummins India"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Adani Ports Rs 1,752.50. HAL Rs 4,775. Eicher Motors Rs 7,099.50. Cummins India Rs 4,385.50. Market caps from Rs 1.32 lakh crore to Rs 4.03 lakh crore. Data as of 26 Oct 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Adani Ports, HAL, Eicher Motors and Cummins India are the 4 picks in this operating margin above 20 per cent stocks watchlist, with market caps between Rs 1.32 lakh crore and Rs 4.03 lakh crore. Adani Ports stands out for the lowest PE of the group at 30.73, while HAL offers the biggest five-year price gain at 607.71%. PE ratios run from 30.73 to 55.62, so compare each one with its industry PE before investing. All figures are as of 26 October 2026.<\/p>\n<\/p><\/div>\n<p>Operating margin above 20 per cent stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Adani Ports, HAL, Eicher Motors and Cummins India meet that test, with market caps from Rs 1.32 lakh crore to Rs 4.03 lakh crore and Adani Ports offering the lowest PE of the group at 30.73. Each of these companies has an FY26 operating profit margin above 20 per cent, 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.<\/p>\n<p>This list covers companies with an FY26 operating profit margin above 20 per cent, 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 operating margin above 20 per cent 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.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=operating-margin-above-per-cent-stocks\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/largecap-operating-margin-above-20-per-cent-stocks-to-watch-multibagger-potential\/#What_Are_Operating_Margin_Above_20_Per_Cent_Stocks_and_Why_Do_They_Attract_Multibagger_Interest\" title=\"What Are Operating Margin Above 20 Per Cent Stocks and Why Do They Attract Multibagger Interest?\">What Are Operating Margin Above 20 Per Cent Stocks and Why Do They Attract Multibagger Interest?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/largecap-operating-margin-above-20-per-cent-stocks-to-watch-multibagger-potential\/#Operating_Margin_Above_20_Per_Cent_Stocks_at_a_Glance_Price_Market_Cap_PE_and_ROE\" title=\"Operating Margin Above 20 Per Cent Stocks at a Glance: Price, Market Cap, PE and ROE\">Operating Margin Above 20 Per Cent Stocks at a Glance: Price, Market Cap, PE and ROE<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/largecap-operating-margin-above-20-per-cent-stocks-to-watch-multibagger-potential\/#Adani_Ports_2674_Profit_CAGR_Since_FY22\" title=\"Adani Ports: 26.74% Profit CAGR Since FY22\">Adani Ports: 26.74% Profit CAGR Since FY22<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/largecap-operating-margin-above-20-per-cent-stocks-to-watch-multibagger-potential\/#HAL_Return_on_Equity_of_2221\" title=\"HAL: Return on Equity of 22.21%\">HAL: Return on Equity of 22.21%<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/largecap-operating-margin-above-20-per-cent-stocks-to-watch-multibagger-potential\/#Eicher_Motors_3467_Profit_CAGR_Since_FY22\" title=\"Eicher Motors: 34.67% Profit CAGR Since FY22\">Eicher Motors: 34.67% Profit CAGR Since FY22<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/largecap-operating-margin-above-20-per-cent-stocks-to-watch-multibagger-potential\/#Cummins_India_2611_Profit_CAGR_Since_FY22\" title=\"Cummins India: 26.11% Profit CAGR Since FY22\">Cummins India: 26.11% Profit CAGR Since FY22<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/largecap-operating-margin-above-20-per-cent-stocks-to-watch-multibagger-potential\/#Operating_Margin_Above_20_Per_Cent_Stocks_Financial_Comparison_on_Growth_and_Margins\" title=\"Operating Margin Above 20 Per Cent Stocks: Financial Comparison on Growth and Margins\">Operating Margin Above 20 Per Cent Stocks: Financial Comparison on Growth and Margins<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/largecap-operating-margin-above-20-per-cent-stocks-to-watch-multibagger-potential\/#Institutional_Holding_in_Adani_Ports_HAL_Eicher_Motors_and_Cummins_India\" title=\"Institutional Holding in Adani Ports, HAL, Eicher Motors and Cummins India\">Institutional Holding in Adani Ports, HAL, Eicher Motors and Cummins India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/largecap-operating-margin-above-20-per-cent-stocks-to-watch-multibagger-potential\/#Risks_to_Weigh_in_Operating_Margin_Above_20_Per_Cent_Stocks\" title=\"Risks to Weigh in Operating Margin Above 20 Per Cent Stocks\">Risks to Weigh in Operating Margin Above 20 Per Cent Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/largecap-operating-margin-above-20-per-cent-stocks-to-watch-multibagger-potential\/#How_to_Choose_Between_Operating_Margin_Above_20_Per_Cent_Stocks\" title=\"How to Choose Between Operating Margin Above 20 Per Cent Stocks\">How to Choose Between Operating Margin Above 20 Per Cent Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/largecap-operating-margin-above-20-per-cent-stocks-to-watch-multibagger-potential\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/largecap-operating-margin-above-20-per-cent-stocks-to-watch-multibagger-potential\/#Frequently_Asked_Questions_on_Operating_Margin_Above_20_Per_Cent_Stocks_to_Watch\" title=\"Frequently Asked Questions on Operating Margin Above 20 Per Cent Stocks to Watch\">Frequently Asked Questions on Operating Margin Above 20 Per Cent Stocks to Watch<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/largecap-operating-margin-above-20-per-cent-stocks-to-watch-multibagger-potential\/#Which_are_the_best_operating_margin_above_20_per_cent_stocks_to_watch_for_multibagger_potential\" title=\"Which are the best operating margin above 20 per cent stocks to watch for multibagger potential?\">Which are the best operating margin above 20 per cent stocks to watch for multibagger potential?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/largecap-operating-margin-above-20-per-cent-stocks-to-watch-multibagger-potential\/#Is_Cummins_India_a_good_stock_for_long-term_investors\" title=\"Is Cummins India a good stock for long-term investors?\">Is Cummins India a good stock for long-term investors?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/largecap-operating-margin-above-20-per-cent-stocks-to-watch-multibagger-potential\/#Can_Eicher_Motors_become_a_multibagger_from_here\" title=\"Can Eicher Motors become a multibagger from here?\">Can Eicher Motors become a multibagger from here?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/largecap-operating-margin-above-20-per-cent-stocks-to-watch-multibagger-potential\/#What_is_the_market_cap_of_Adani_Ports_HAL_Eicher_Motors_and_Cummins_India\" title=\"What is the market cap of Adani Ports, HAL, Eicher Motors and Cummins India?\">What is the market cap of Adani Ports, HAL, Eicher Motors and Cummins India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/largecap-operating-margin-above-20-per-cent-stocks-to-watch-multibagger-potential\/#What_are_the_risks_of_investing_in_operating_margin_above_20_per_cent_stocks\" title=\"What are the risks of investing in operating margin above 20 per cent stocks?\">What are the risks of investing in operating margin above 20 per cent stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/largecap-operating-margin-above-20-per-cent-stocks-to-watch-multibagger-potential\/#Why_is_Eicher_Motors_trading_at_a_PE_of_3369\" title=\"Why is Eicher Motors trading at a PE of 33.69?\">Why is Eicher Motors trading at a PE of 33.69?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/largecap-operating-margin-above-20-per-cent-stocks-to-watch-multibagger-potential\/#How_much_do_institutions_hold_in_Adani_Ports_HAL_Eicher_Motors_and_Cummins_India\" title=\"How much do institutions hold in Adani Ports, HAL, Eicher Motors and Cummins India?\">How much do institutions hold in Adani Ports, HAL, Eicher Motors and Cummins India?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Operating_Margin_Above_20_Per_Cent_Stocks_and_Why_Do_They_Attract_Multibagger_Interest\"><\/span><strong>What Are Operating Margin Above 20 Per Cent Stocks and Why Do They Attract Multibagger Interest?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Operating margin above 20 per cent stocks are shares of large companies that kept more than 20 paise of operating profit from every rupee of sales in FY26, a sign of pricing power and tight cost control. The four here cover ports, defence aerospace, two-wheelers and engines.<\/p>\n<p>A margin this wide gives a business room to absorb higher costs and still protect its profit. For operating margin above 20 per cent stocks, both FY26 and the latest quarter showed growth. Whichever way you read operating margin above 20 per cent stocks, the common thread is rising profit backed by complete financial data. With operating margin above 20 per cent 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 operating margin above 20 per cent stocks are complete. Read each company&#8217;s latest results and exchange filings before acting on operating margin above 20 per cent stocks.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Operating_Margin_Above_20_Per_Cent_Stocks_at_a_Glance_Price_Market_Cap_PE_and_ROE\"><\/span><strong>Operating Margin Above 20 Per Cent Stocks at a Glance: Price, Market Cap, PE and ROE<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Prices are closing prices as of 26 October 2026. Adani Ports has the lowest PE of the group at 30.73, while Cummins India posts the highest return on equity at 27.87%.<\/p>\n<table style=\"border-collapse:collapse;width:100%;margin:16px 0;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Stock<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">PE<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Industry PE<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">ROE<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Debt to Equity<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">52-Week Range (Rs)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/adaniports\/adani-ports-and-special-economic-zone-ltd-share-price-today\">Adani Ports and Special Economic Zone<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,752.50<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">4,03,261<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">30.73<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">31.83<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">13.32%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.66<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,292.00 to 1,891.10<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/hal\/hindustan-aeronautics-ltd-share-price-today\">Hindustan Aeronautics<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">4,775<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">3,26,218<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">35.00<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">48.59<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">22.21%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.00<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">3,479.10 to 5,149.90<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/eichermot\/eicher-motors-ltd-share-price-today\">Eicher Motors<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">7,099.50<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,94,501<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">33.69<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">23.82<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">21.97%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.02<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">6,442.00 to 8,230.00<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/cumminsind\/cummins-india-ltd-share-price-today\">Cummins India<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">4,385.50<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,31,647<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">55.62<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">45.93<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">27.87%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.00<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">3,883.10 to 6,100.00<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Adani_Ports_2674_Profit_CAGR_Since_FY22\"><\/span><strong>Adani Ports: 26.74% Profit CAGR Since FY22<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Adani Ports and Special Economic Zone is India&#8217;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.<\/p>\n<p>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. The stock trades at a PE of 30.73 against an industry PE of 31.83, below the sector average, with a return on equity of 13.32%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"HAL_Return_on_Equity_of_2221\"><\/span><strong>HAL: Return on Equity of 22.21%<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Hindustan Aeronautics is India&#8217;s state-owned aerospace company that designs, makes and services fighter jets, helicopters, engines and avionics. It reported FY26 revenue of Rs 36,787.95 crore, up 9.68% year on year, and net profit of Rs 9,115.52 crore, up 8.98%. Net profit has compounded at 15.74% a year since FY22, while revenue has grown 9.48% a year. Operating margin was 40.89% in FY26. The debt-to-equity ratio is 0.00, which keeps interest costs low.<\/p>\n<p>The stock trades at a PE of 35.00 against an industry PE of 48.59, below the sector average, with a return on equity of 22.21%. In the June 2026 quarter, revenue rose 15.26% to Rs 6,415.41 crore and net profit grew 14.88% to Rs 1,589.66 crore. The share price has gained 607.71% over five years. Domestic institutions raised their holding from 8.71% in September 2025 to 12.56% in September 2026.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Eicher_Motors_3467_Profit_CAGR_Since_FY22\"><\/span><strong>Eicher Motors: 34.67% Profit CAGR Since FY22<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>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.<\/p>\n<p>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. The stock trades at a PE of 33.69 against an industry PE of 23.82, with a return on equity of 21.97%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cummins_India_2611_Profit_CAGR_Since_FY22\"><\/span><strong>Cummins India: 26.11% Profit CAGR Since FY22<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Cummins India makes engines and power generation equipment and exports a share of its output. It reported FY26 revenue of Rs 12,660.53 crore, up 16.82% year on year, and net profit of Rs 2,361.75 crore, up 18.09%. Net profit has compounded at 26.11% a year since FY22, while revenue has grown 18.53% a year. Operating margin was 27.15% in FY26. The debt-to-equity ratio is 0.00, which keeps interest costs low.<\/p>\n<p>The stock trades at a PE of 55.62 against an industry PE of 45.93, with a return on equity of 27.87%. In the June 2026 quarter, revenue rose 17.19% to Rs 3,563.35 crore and net profit grew 0.89% to Rs 609.30 crore. The share price has gained 408.59% over five years and 16.98% over the past year. Foreign investors raised their holding from 17.50% in June 2025 to 21.19% in June 2026.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Operating_Margin_Above_20_Per_Cent_Stocks_Financial_Comparison_on_Growth_and_Margins\"><\/span><strong>Operating Margin Above 20 Per Cent Stocks: Financial Comparison on Growth and Margins<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table compares scale and growth across these operating margin above 20 per cent stocks. Latest quarter means the most recent reported quarter for each company, and only metrics that are positive for every company are shown.<\/p>\n<table style=\"border-collapse:collapse;width:100%;margin:16px 0;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Stock<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Net Profit (Rs Cr)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Revenue Growth (YoY)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">4-Year Revenue CAGR<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">4-Year Net Profit CAGR<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Operating Margin (Latest Quarter)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Adani Ports<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">40,854.36<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">12,782.03<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">26.16%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">20.55%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">26.74%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">65.67%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">HAL<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">36,787.95<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">9,115.52<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">9.68%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">9.48%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">15.74%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">44.22%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Eicher Motors<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">24,894.09<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">5,515.23<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">23.39%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">23.39%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">34.67%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">34.28%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Cummins India<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">12,660.53<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">2,361.75<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">16.82%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">18.53%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">26.11%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">24.99%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check the Univest Screener for live data on these operating margin above 20 per cent stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Institutional_Holding_in_Adani_Ports_HAL_Eicher_Motors_and_Cummins_India\"><\/span><strong>Institutional Holding in Adani Ports, HAL, Eicher Motors and Cummins India<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Institutional holding shows who is backing these operating margin above 20 per cent stocks 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 HAL (from 8.71% to 12.56%).<\/p>\n<table style=\"border-collapse:collapse;width:100%;margin:16px 0;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Stock<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Promoter<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">FII<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">DII<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Public<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Quarter<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Adani Ports<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">66.03%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">15.95%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">13.25%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">4.77%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">September 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">HAL<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">71.64%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">9.42%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">12.56%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">6.38%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">September 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Eicher Motors<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">49.02%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">25.53%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">16.06%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">9.40%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">June 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Cummins India<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">51.00%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">21.19%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">19.16%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">8.66%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">June 2026<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Risks_to_Weigh_in_Operating_Margin_Above_20_Per_Cent_Stocks\"><\/span><strong>Risks to Weigh in Operating Margin Above 20 Per Cent Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Being careful with operating margin above 20 per cent stocks means looking at what can slow the story as well as what can speed it up. Four points matter most:<\/p>\n<ul>\n<li>Past growth may not repeat.<\/li>\n<li>Share prices can move sharply in either direction.<\/li>\n<li><strong>Valuation:<\/strong> Eicher Motors trades at a PE of 33.69 against an industry PE of 23.82, so earnings need to keep growing to support the price.<\/li>\n<li><strong>Concentration:<\/strong> Holding all 4 names puts the allocation in one sector, so size each position to match your risk appetite.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Choose_Between_Operating_Margin_Above_20_Per_Cent_Stocks\"><\/span><strong>How to Choose Between Operating Margin Above 20 Per Cent Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Picking from operating margin above 20 per cent stocks comes down to four checks, applied in order.<\/p>\n<ol>\n<li>Check balance sheet strength first, and prefer a debt-to-equity ratio below 1 for non-financial companies.<\/li>\n<li>Compare each PE with the industry PE (23.82 to 48.59) and ask whether the growth rate justifies any gap.<\/li>\n<li>Track net profit growth, the operating margin and the return on equity in every quarterly result.<\/li>\n<li>Stagger entries across quarters and review institutional holding every reporting season.<\/li>\n<\/ol>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Adani Ports, HAL, Eicher Motors and Cummins India live prices.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among operating margin above 20 per cent stocks, Adani Ports stands out for the lowest PE of the group at 30.73, HAL for the biggest five-year price gain at 607.71%, Eicher Motors for the fastest profit growth, 34.67% a year since FY22 and Cummins India for the highest return on equity at 27.87%. 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 operating margin above 20 per cent 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.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> 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).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_on_Operating_Margin_Above_20_Per_Cent_Stocks_to_Watch\"><\/span><strong>Frequently Asked Questions on Operating Margin Above 20 Per Cent Stocks to Watch<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_are_the_best_operating_margin_above_20_per_cent_stocks_to_watch_for_multibagger_potential\"><\/span><strong>Which are the best operating margin above 20 per cent stocks to watch for multibagger potential?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Adani Ports, HAL, Eicher Motors and Cummins India are the 4 names this list highlights, with market caps of Rs 4,03,261 crore, Rs 3,26,218 crore, Rs 1,94,501 crore and Rs 1,31,647 crore respectively. Adani Ports is notable for the lowest PE of the group at 30.73. HAL stands out for the biggest five-year price gain at 607.71%. Eicher Motors offers the fastest profit growth, 34.67% a year since FY22. Cummins India brings the highest return on equity at 27.87%. These are watchlist names for operating margin above 20 per cent stocks, not recommendations, so match each one to your own risk profile and time horizon.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Cummins_India_a_good_stock_for_long-term_investors\"><\/span><strong>Is Cummins India a good stock for long-term investors?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Cummins India has a return on equity of 27.87%, a PE of 55.62 against an industry PE of 45.93 and a market cap of Rs 1,31,647 crore. Net profit has compounded at 26.11% a year since FY22, and FY26 revenue rose 16.82% while June 2026 quarter net profit grew 0.89%. Long-term returns in operating margin above 20 per cent stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Can_Eicher_Motors_become_a_multibagger_from_here\"><\/span><strong>Can Eicher Motors become a multibagger from here?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Eicher Motors has already gained 174.76% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in operating margin above 20 per cent stocks 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 33.69 against an industry PE of 23.82, valuation should be checked against that growth before investing.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_market_cap_of_Adani_Ports_HAL_Eicher_Motors_and_Cummins_India\"><\/span><strong>What is the market cap of Adani Ports, HAL, Eicher Motors and Cummins India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> As of 26 October 2026, Adani Ports has a market cap of Rs 4,03,261 crore, HAL has a market cap of Rs 3,26,218 crore, Eicher Motors has a market cap of Rs 1,94,501 crore and Cummins India has a market cap of Rs 1,31,647 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 operating margin above 20 per cent stocks.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_investing_in_operating_margin_above_20_per_cent_stocks\"><\/span><strong>What are the risks of investing in operating margin above 20 per cent stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> 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. Eicher Motors trades at a PE of 33.69 against an industry PE of 23.82, so earnings growth needs to hold up.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_is_Eicher_Motors_trading_at_a_PE_of_3369\"><\/span><strong>Why is Eicher Motors trading at a PE of 33.69?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Eicher Motors&#8217; PE of 33.69 compares with an industry PE of 23.82. The market is paying a premium for a return on equity of 21.97%, profit growth of 34.67% a year since FY22 and latest-quarter profit growth of 21.35%, which also means the stock is more sensitive if growth slows. Investors in operating margin above 20 per cent stocks who are comfortable with higher valuation risk may prefer to stagger purchases instead of investing in one go.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_much_do_institutions_hold_in_Adani_Ports_HAL_Eicher_Motors_and_Cummins_India\"><\/span><strong>How much do institutions hold in Adani Ports, HAL, Eicher Motors and Cummins India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> As of the latest reported quarter, FII and DII together hold 29.20% of Adani Ports (15.95% and 13.25%), 21.98% of HAL (9.42% and 12.56%), 41.59% of Eicher Motors (25.53% and 16.06%) and 40.35% of Cummins India (21.19% and 19.16%). Rising institutional holding is a useful signal in operating margin above 20 per cent stocks, though it should be read with earnings trends rather than on its own.<\/p>\n<p><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which are the best operating margin above 20 per cent stocks to watch for multibagger potential?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Adani Ports, HAL, Eicher Motors and Cummins India are the 4 names this list highlights, with market caps of Rs 4,03,261 crore, Rs 3,26,218 crore, Rs 1,94,501 crore and Rs 1,31,647 crore respectively. Adani Ports is notable for the lowest PE of the group at 30.73. HAL stands out for the biggest five-year price gain at 607.71%. Eicher Motors offers the fastest profit growth, 34.67% a year since FY22. Cummins India brings the highest return on equity at 27.87%. 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Rising institutional holding is a useful signal in operating margin above 20 per cent stocks, though it should be read with earnings trends rather than on its own.\"}}]}<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>4 largecap operating margin above 20 per cent stocks compared on market cap, PE, ROE, growth and institutional holding: Adani Ports, HAL, Eicher Motors and Cummins India.<\/p>\n","protected":false},"author":33,"featured_media":327651,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[16390,16389],"class_list":["post-327652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-operating-margin-above-20-per-cent-sector","tag-operating-margin-above-20-per-cent-stocks"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["327651"],"rank_math_title":["Operating Margin Above 20 Per Cent Stocks 2026: Adani Ports, HAL"],"rank_math_description":["Operating margin above 20 per cent stocks to watch for multibagger potential: Adani Ports, HAL, Eicher Motors and Cummins India. 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