4 Largecap Stocks With PE Below 15 and ROE Above 15 to Watch for Future Multibagger Potential: LIC, Infosys, Hindustan Zinc and Indian Bank

Stocks with PE below 15 and ROE above 15 to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. LIC, Infosys, Hindustan Zinc and Indian Bank meet that test, with market caps from Rs 1.13 lakh crore to Rs 4.98 lakh crore and LIC offering the fastest profit growth, 93.19% a year since FY22. Each of these companies has a PE ratio below 15 and a return on equity above 15 per cent, and net profit rose in FY26 and in the latest quarter.

This list covers companies with a PE ratio below 15 and a return on equity above 15 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 stocks with PE below 15 and ROE above 15 usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 21 October 2026 and are drawn from NSE and BSE data and company filings.

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What Are Stocks With PE Below 15 and ROE Above 15 and Why Do They Attract Multibagger Interest?

Stocks with PE below 15 and ROE above 15 are shares that earn solid returns on shareholder money and trade at a low multiple of earnings. The four here cover life insurance, IT services, zinc and public sector banking.

Low multiples with solid returns leave room for the valuation to rise. For stocks with PE below 15 and ROE above 15, rising profit adds to the case. Whichever way you read stocks with PE below 15 and ROE above 15, the common thread is rising profit backed by complete financial data. Each of stocks with PE below 15 and ROE above 15 also has complete FY26 and latest quarter figures. For stocks with PE below 15 and ROE above 15, checking each result against the latest quarter matters more than any single ratio. The next sections explain what stands out in each of stocks with PE below 15 and ROE above 15, using FY26 and latest quarter data. Prices move daily, so recheck the figures for stocks with PE below 15 and ROE above 15 before you decide.

Stocks With PE Below 15 and ROE Above 15 at a Glance: Price, Market Cap, PE, ROE and Price to Book

Prices are closing prices as of 21 October 2026. LIC has the lowest PE of the group at 8.30, while Hindustan Zinc posts the highest return on equity at 61.13%.

Stock	CMP (Rs)	Market Cap (Rs Cr)	PE	Industry PE	ROE	Price to Book	52-Week Range (Rs)
Life Insurance Corporation of India	392.05	4,98,410	8.30	10.47	32.53%	2.81	360.75 to 468.48
Infosys	1,168	4,41,906	14.57	18.27	33.24%	5.12	980.40 to 1,728.00
Hindustan Zinc	525	2,23,984	13.12	12.27	61.13%	9.90	412.25 to 609.05
Indian Bank	859	1,12,680	8.52	12.02	16.02%	1.41	756.50 to 1,000.90

LIC: 93.19% Profit CAGR Since FY22

LIC is India's largest life insurer and one of the biggest institutional investors in the stock market, with a vast agent network across the country. It reported FY26 revenue of Rs 9,90,211.25 crore, up 10.23% year on year, and net profit of Rs 57,453.15 crore, up 18.90%. Net profit has compounded at 93.19% a year since FY22, while revenue has grown 7.96% a year. Operating margin was 5.51% in FY26. The debt-to-equity ratio is 0.00, which keeps interest costs low.

In the June 2026 quarter, revenue rose 6.97% to Rs 2,41,166.45 crore and net profit grew 23.98% to Rs 13,584.25 crore. Domestic institutions raised their holding from 1.36% in September 2025 to 6.17% in September 2026. The stock trades at a PE of 8.30 against an industry PE of 10.47, below the sector average, with a return on equity of 32.53%.

Infosys: Return on Equity of 33.24%

Infosys is a large IT services and consulting company that has built an AI-first offering around its Topaz platform. It reported FY26 revenue of Rs 1,82,972 crore, up 9.83% year on year, and net profit of Rs 29,474 crore, up 10.18%. Net profit has compounded at 7.41% a year since FY22, while revenue has grown 10.23% a year. Operating margin was 25.36% in FY26. The debt-to-equity ratio is 0.10, which keeps interest costs low.

The stock trades at a PE of 14.57 against an industry PE of 18.27, below the sector average, with a return on equity of 33.24%. The dividend yield is 4.40%. In the June 2026 quarter, revenue rose 13.56% to Rs 49,195 crore and net profit grew 12.29% to Rs 7,775 crore. Domestic institutions raised their holding from 39.60% in June 2025 to 42.96% in June 2026.

Hindustan Zinc: Return on Equity of 61.13%

Hindustan Zinc is among the world's largest integrated zinc producers and also produces lead and silver. It reported FY26 revenue of Rs 41,934 crore, up 19.59% year on year, and net profit of Rs 13,832 crore, up 33.60%. Net profit has compounded at 9.48% a year since FY22, while revenue has grown 8.15% a year. Operating margin was 56.75% in FY26. The debt-to-equity ratio is 0.39.

In the June 2026 quarter, revenue rose 74.70% to Rs 14,063 crore and net profit grew 144.81% to Rs 5,469 crore. Foreign investors raised their holding from 1.31% in September 2025 to 2.36% in September 2026. The stock trades at a PE of 13.12 against an industry PE of 12.27, with a return on equity of 61.13%. The dividend yield is 1.89%.

Indian Bank: 32.28% Profit CAGR Since FY22

Indian Bank is a government-owned bank with a strong presence in South India and a growing national network. It reported FY26 total income of Rs 78,332.70 crore, up 8.72% year on year, and net profit of Rs 12,226.99 crore, up 11.21%. Net profit has compounded at 32.28% a year since FY22, while total income has grown 14.07% a year.

The stock trades at a PE of 8.52 against an industry PE of 12.02, below the sector average, with a return on equity of 16.02%. The dividend yield is 2.18%. In the September 2026 quarter, total income rose 21.09% to Rs 23,335.98 crore and net profit grew 13.36% to Rs 3,446.86 crore. The share price has gained 396.82% over five years and 10.47% over the past year. Foreign investors raised their holding from 4.68% in September 2025 to 6.86% in September 2026.

Stocks With PE Below 15 and ROE Above 15: Financial Comparison on Growth and Margins

The table compares scale and growth across these stocks with PE below 15 and ROE above 15. 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
LIC	9,90,211.25	57,453.15	10.23%	7.96%	93.19%
Infosys	1,82,972	29,474	9.83%	10.23%	7.41%
Hindustan Zinc	41,934	13,832	19.59%	8.15%	9.48%
Indian Bank	78,332.70	12,226.99	8.72%	14.07%	32.28%

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Institutional Holding in LIC, Infosys, Hindustan Zinc and Indian Bank

Institutional holding shows who is backing these stocks with PE below 15 and ROE above 15 alongside the promoter. The table uses the latest reported quarter for each. Infosys has the deepest institutional backing, with FII and DII together holding 70.05% as of June 2026. Domestic institutions increased their holding over the past year in LIC (from 1.36% to 6.17%) and Infosys (from 39.60% to 42.96%).

Stock	Promoter	FII	DII	Public	Quarter
LIC	90.00%	1.55%	6.17%	2.28%	September 2026
Infosys	13.82%	27.09%	42.96%	16.13%	June 2026
Hindustan Zinc	60.71%	2.36%	4.85%	32.07%	September 2026
Indian Bank	73.84%	6.86%	16.77%	2.53%	September 2026

Risks to Weigh in Stocks With PE Below 15 and ROE Above 15

Being careful with stocks with PE below 15 and ROE above 15 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: Hindustan Zinc trades at a PE of 13.12 against an industry PE of 12.27, 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 Stocks With PE Below 15 and ROE Above 15

Picking from stocks with PE below 15 and ROE above 15 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 (10.47 to 18.27) 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 stocks with PE below 15 and ROE above 15, LIC stands out for the fastest profit growth, 93.19% a year since FY22, Infosys for a nearly debt-free balance sheet, with a debt-to-equity ratio of 0.10, Hindustan Zinc for the highest return on equity at 61.13% and Indian Bank for the biggest five-year price gain at 396.82%. 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 stocks with PE below 15 and ROE above 15 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 Stocks With PE Below 15 and ROE Above 15 to Watch

Which are the best stocks with PE below 15 and ROE above 15 to watch for multibagger potential?

Ans. LIC, Infosys, Hindustan Zinc and Indian Bank are the 4 names this list highlights, with market caps of Rs 4,98,410 crore, Rs 4,41,906 crore, Rs 2,23,984 crore and Rs 1,12,680 crore respectively. LIC is notable for the fastest profit growth, 93.19% a year since FY22. Infosys stands out for a nearly debt-free balance sheet, with a debt-to-equity ratio of 0.10. Hindustan Zinc offers the highest return on equity at 61.13%. Indian Bank brings the biggest five-year price gain at 396.82%. These are watchlist names for stocks with PE below 15 and ROE above 15, not recommendations, so match each one to your own risk profile and time horizon.

Is Hindustan Zinc a good stock for long-term investors?

Ans. Hindustan Zinc has a return on equity of 61.13%, a PE of 13.12 against an industry PE of 12.27 and a market cap of Rs 2,23,984 crore. Net profit has compounded at 9.48% a year since FY22, and FY26 revenue rose 19.59% while June 2026 quarter net profit grew 144.81%. Long-term returns in stocks with PE below 15 and ROE above 15 depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.

Can LIC become a multibagger from here?

Ans. LIC has a market cap of Rs 4,98,410 crore. A multibagger outcome in stocks with PE below 15 and ROE above 15 requires earnings to keep growing faster than the market for several years. Net profit has compounded at 93.19% a year since FY22, and FY26 revenue rose 10.23%. At a PE of 8.30 against an industry PE of 10.47, valuation should be checked against that growth before investing.

What is the market cap of LIC, Infosys, Hindustan Zinc and Indian Bank?

Ans. As of 21 October 2026, LIC has a market cap of Rs 4,98,410 crore, Infosys has a market cap of Rs 4,41,906 crore, Hindustan Zinc has a market cap of Rs 2,23,984 crore and Indian Bank has a market cap of Rs 1,12,680 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 stocks with PE below 15 and ROE above 15.

What are the risks of investing in stocks with PE below 15 and ROE above 15?

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. Hindustan Zinc trades at a PE of 13.12 against an industry PE of 12.27, so earnings growth needs to hold up.

Is LIC trading below its industry PE?

Ans. LIC trades at a PE of 8.30 against an industry PE of 10.47. A lower PE means investors pay less for each rupee of earnings, but it should be read with growth (net profit has compounded at 93.19% a year since FY22 and FY26 revenue rose 10.23%) and balance sheet strength before drawing a conclusion.

How much do institutions hold in LIC, Infosys, Hindustan Zinc and Indian Bank?

Ans. As of the latest reported quarter, FII and DII together hold 7.72% of LIC (1.55% and 6.17%), 70.05% of Infosys (27.09% and 42.96%), 7.21% of Hindustan Zinc (2.36% and 4.85%) and 23.63% of Indian Bank (6.86% and 16.77%). Rising institutional holding is a useful signal in stocks with PE below 15 and ROE above 15, though it should be read with earnings trends rather than on its own.