4 Largecap Long Term Stocks to Watch for Future Multibagger Potential: L&T, Sun Pharma, Adani Ports and M&M

Long term stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. L&T, Sun Pharma, Adani Ports and M&M meet that test, with market caps from Rs 3.48 lakh crore to Rs 5.00 lakh crore and L&T offering the largest market cap at Rs 5,00,275 crore. Each of these companies has a five-year return above 100 per cent and a return on equity above 12 per cent, and net profit rose in FY26 and in the latest quarter.

This list covers companies with a five-year return above 100 per cent and a return on equity above 12 per cent, 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 long term stocks usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 22 October 2026 and are drawn from NSE and BSE data and company filings.

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What Are Long Term Stocks and Why Do They Attract Multibagger Interest?

Long term stocks are shares of large companies that have doubled investor money over five years while earning decent returns. The four here cover engineering and construction, pharmaceuticals, ports and automobiles.

A long holding period rewards businesses that keep growing profit year after year. For long term stocks, rising profit adds to the case. With long term 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 long term stocks are complete. Read each company's latest results and exchange filings before acting on long term stocks.

Long Term Stocks at a Glance: Price, Market Cap, PE and ROE

Prices are closing prices as of 22 October 2026. M&M combines the lowest PE of the group, 17.19, with the highest return on equity, 18.37%.

Stock	CMP (Rs)	Market Cap (Rs Cr)	PE	Industry PE	ROE	Debt to Equity	52-Week Range (Rs)
Larsen & Toubro	3,638.30	5,00,275	25.49	22.89	14.72%	1.15	3,288.10 to 4,440.00
Sun Pharmaceutical Industries	1,758	4,22,427	34.86	36.42	13.74%	0.06	1,583.70 to 2,046.90
Adani Ports and Special Economic Zone	1,750	4,02,686	30.69	31.83	13.32%	0.66	1,292.00 to 1,891.10
Mahindra & Mahindra	2,864.10	3,48,064	17.19	23.82	18.37%	1.44	2,744.30 to 3,839.90

L&T: Five-Year Gain of 104.68%

Larsen & Toubro is the largest engineering and construction company in India, with additional businesses in IT services and infrastructure projects. It reported FY26 revenue of Rs 2,91,635.04 crore, up 12.23% year on year, and net profit of Rs 19,159.40 crore, up 8.32%. Net profit has compounded at 16.81% a year since FY22, while revenue has grown 16.41% a year. Operating margin was 14.13% in FY26.

In the June 2026 quarter, revenue rose 8.12% to Rs 70,318.47 crore and net profit grew 15.20% to Rs 4,982.85 crore. The share price has gained 104.68% over five years. The stock trades at a PE of 25.49 against an industry PE of 22.89, with a return on equity of 14.72%.

Sun Pharma: 35.75% Profit CAGR Since FY22

Sun Pharmaceutical Industries is one of India's largest drugmakers and sells generic and specialty medicines in India and overseas. It reported FY26 revenue of Rs 61,673.94 crore, up 12.69% year on year, and net profit of Rs 11,564.52 crore, up 5.32%. Net profit has compounded at 35.75% a year since FY22, while revenue has grown 11.62% a year. Operating margin was 31.47% in FY26. The debt-to-equity ratio is 0.06, which keeps interest costs low.

The stock trades at a PE of 34.86 against an industry PE of 36.42, below the sector average, with a return on equity of 13.74%. In the June 2026 quarter, revenue rose 11.93% to Rs 16,023.50 crore and net profit grew 26.41% to Rs 2,910.80 crore. The share price has gained 110.81% over five years. Domestic institutions raised their holding from 20.23% in September 2025 to 22.27% in September 2026.

Adani Ports: 26.74% Profit CAGR Since FY22

Adani Ports and Special Economic Zone is India'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.

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 30.69 against an industry PE of 31.83, below the sector average, with a return on equity of 13.32%.

M&M: 26.58% Profit CAGR Since FY22

Mahindra & Mahindra is one of the largest SUV makers in India and the country's largest tractor maker, with financial services and electric vehicles in its portfolio. It reported FY26 revenue of Rs 2,02,084.34 crore, up 25.21% year on year, and net profit of Rs 18,621.71 crore, up 32.32%. Net profit has compounded at 26.58% a year since FY22, while revenue has grown 22.04% a year. Operating margin was 21.19% in FY26.

The stock trades at a PE of 17.19 against an industry PE of 23.82, below the sector average, with a return on equity of 18.37%. In the June 2026 quarter, revenue rose 27.47% to Rs 59,203.60 crore and net profit grew 37.04% to Rs 5,997.56 crore. The share price has gained 220.52% over five years. Domestic institutions raised their holding from 29.59% in June 2025 to 32.65% in June 2026.

Long Term Stocks: Financial Comparison on Growth and Margins

The table compares scale and growth across these long term 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)
L&T	2,91,635.04	19,159.40	12.23%	16.41%	16.81%	15.49%
Sun Pharma	61,673.94	11,564.52	12.69%	11.62%	35.75%	32.52%
Adani Ports	40,854.36	12,782.03	26.16%	20.55%	26.74%	65.67%
M&M	2,02,084.34	18,621.71	25.21%	22.04%	26.58%	20.77%

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Institutional Holding in L&T, Sun Pharma, Adani Ports and M&M

Institutional holding shows who is backing these long term stocks alongside the promoter. The table uses the latest reported quarter for each. M&M has the deepest institutional backing, with FII and DII together holding 67.54% as of June 2026. Domestic institutions increased their holding over the past year in Sun Pharma (from 20.23% to 22.27%) and M&M (from 29.59% to 32.65%).

Stock	Promoter	FII	DII	Public	Quarter
L&T	Nil	19.13%	43.02%	37.85%	June 2026
Sun Pharma	52.68%	14.36%	22.27%	10.70%	September 2026
Adani Ports	66.03%	15.95%	13.25%	4.77%	September 2026
M&M	18.45%	34.89%	32.65%	14.01%	June 2026

Risks to Weigh in Long Term Stocks

Being careful with long term 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: L&T trades at a PE of 25.49 against an industry PE of 22.89, 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 Long Term Stocks

Picking from long term stocks comes down to four checks, applied in order.

1. Check balance sheet strength first, and prefer a debt-to-equity ratio below 1 for non-financial companies.
2. Compare each PE with the industry PE (22.89 to 36.42) and ask whether the growth rate justifies any gap.
3. Track net profit growth, the operating margin and the return on equity in every quarterly result.
4. Stagger entries across quarters and review institutional holding every reporting season.

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Conclusion

Among long term stocks, L&T stands out for the largest market cap at Rs 5,00,275 crore, Sun Pharma for the fastest profit growth, 35.75% a year since FY22, Adani Ports for 26.16% revenue growth in FY26 and M&M for the highest return on equity at 18.37%. 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 long term 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.

Frequently Asked Questions on Long Term Stocks to Watch

Which are the best long term stocks to watch for multibagger potential?

Ans. L&T, Sun Pharma, Adani Ports and M&M are the 4 names this list highlights, with market caps of Rs 5,00,275 crore, Rs 4,22,427 crore, Rs 4,02,686 crore and Rs 3,48,064 crore respectively. L&T is notable for the largest market cap at Rs 5,00,275 crore. Sun Pharma stands out for the fastest profit growth, 35.75% a year since FY22. Adani Ports offers 26.16% revenue growth in FY26. M&M brings the highest return on equity at 18.37%. These are watchlist names for long term stocks, not recommendations, so match each one to your own risk profile and time horizon.

Is M&M a good stock for long-term investors?

Ans. M&M has a return on equity of 18.37%, a PE of 17.19 against an industry PE of 23.82 and a market cap of Rs 3,48,064 crore. Net profit has compounded at 26.58% a year since FY22, and FY26 revenue rose 25.21% while June 2026 quarter net profit grew 37.04%. Long-term returns in long term stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.

Can Sun Pharma become a multibagger from here?

Ans. Sun Pharma has already gained 110.81% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in long term stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 35.75% a year since FY22, and FY26 revenue rose 12.69%. At a PE of 34.86 against an industry PE of 36.42, valuation should be checked against that growth before investing.

What is the market cap of L&T, Sun Pharma, Adani Ports and M&M?

Ans. As of 22 October 2026, L&T has a market cap of Rs 5,00,275 crore, Sun Pharma has a market cap of Rs 4,22,427 crore, Adani Ports has a market cap of Rs 4,02,686 crore and M&M has a market cap of Rs 3,48,064 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 long term stocks.

What are the risks of investing in long term 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. L&T trades at a PE of 25.49 against an industry PE of 22.89, so earnings growth needs to hold up.

Is M&M trading below its industry PE?

Ans. M&M trades at a PE of 17.19 against an industry PE of 23.82. A lower PE means investors pay less for each rupee of earnings, but it should be read with growth (net profit has compounded at 26.58% a year since FY22 and FY26 revenue rose 25.21%) and balance sheet strength before drawing a conclusion.

How much do institutions hold in L&T, Sun Pharma, Adani Ports and M&M?

Ans. As of the latest reported quarter, FII and DII together hold 62.15% of L&T (19.13% and 43.02%), 36.63% of Sun Pharma (14.36% and 22.27%), 29.20% of Adani Ports (15.95% and 13.25%) and 67.54% of M&M (34.89% and 32.65%). Rising institutional holding is a useful signal in long term stocks, though it should be read with earnings trends rather than on its own.