4 Largecap Stocks With Price-to-Book of 1-3 and Profit Growth to Watch for Future Multibagger Potential: LIC, NTPC, JSW Steel and Tata Steel

Stocks with price-to-book of 1-3 and profit growth to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. LIC, NTPC, JSW Steel and Tata Steel meet that test, with market caps from Rs 2.20 lakh crore to Rs 4.98 lakh crore and LIC offering the highest return on equity at 32.53%. Each of these companies has a price-to-book ratio between 1 and 3 and FY26 profit growth of at least 10 per cent, and net profit rose in FY26 and in the latest quarter.

This list covers companies with a price-to-book ratio between 1 and 3 and FY26 profit growth of at least 10 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 price-to-book of 1-3 and profit growth 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 Price-to-Book of 1-3 and Profit Growth and Why Do They Attract Multibagger Interest?

Stocks with price-to-book of 1-3 and profit growth are shares of large companies that trade close to book value while profit grows. The four here cover insurance, power generation and two steel makers.

A low book multiple with rising profit is a pairing value investors look for. For stocks with price-to-book of 1-3 and profit growth, latest quarter profit also rose. Investors researching stocks with price-to-book of 1-3 and profit growth get a fuller picture by reading growth and valuation together. The table below lines up stocks with price-to-book of 1-3 and profit growth on size, growth and valuation, using complete FY26 and latest quarter numbers. Past performance does not guarantee future returns, so use stocks with price-to-book of 1-3 and profit growth as a starting point for your own research.

Stocks With Price-to-Book of 1-3 and Profit Growth at a Glance: Price, Market Cap, PE and ROE

Prices are closing prices as of 21 October 2026. LIC combines the lowest PE of the group, 8.30, with the highest return on equity, 32.53%.

Stock	CMP (Rs)	Market Cap (Rs Cr)	PE	Industry PE	ROE	Debt to Equity	52-Week Range (Rs)
Life Insurance Corporation of India	387.50	4,98,410	8.30	10.47	32.53%	0.00	360.75 to 468.48
NTPC	302.60	3,04,475	10.75	21.61	13.31%	1.33	302.60 to 414.40
JSW Steel	1,220	2,93,638	10.49	22.42	7.21%	0.99	1,073.20 to 1,351.00
Tata Steel	172.33	2,20,272	19.56	22.42	10.56%	0.90	160.06 to 224.40

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%.

NTPC: Five-Year Gain of 110.40%

NTPC is India's largest power generation company and is growing its renewable energy portfolio. It reported FY26 revenue of Rs 1,89,798.56 crore and net profit of Rs 30,009.98 crore, up 48.19%. Net profit has compounded at 18.01% a year since FY22, while revenue has grown 8.89% a year. Operating margin was 32.45% in FY26.

The stock trades at a PE of 10.75 against an industry PE of 21.61, below the sector average, with a return on equity of 13.31%. The dividend yield is 2.87%. In the June 2026 quarter, revenue rose 6.94% to Rs 51,141.51 crore and net profit grew 12.90% to Rs 6,896.44 crore. The share price has gained 110.40% over five years. Domestic institutions raised their holding from 28.92% in June 2025 to 29.44% in June 2026.

JSW Steel: Quarterly Profit Up 112.58%

JSW Steel is one of India's largest steel producers, with integrated plants across the country. It reported FY26 revenue of Rs 1,86,718 crore, up 10.15% year on year, and net profit of Rs 25,508 crore, up 630.68%. Net profit has compounded at 5.06% a year since FY22, while revenue has grown 6.00% a year. Operating margin was 16.56% in FY26.

In the June 2026 quarter, revenue rose 10.55% to Rs 48,088 crore and net profit grew 112.58% to Rs 4,696 crore. The share price has gained 68.48% over five years. Domestic institutions raised their holding from 10.92% in June 2025 to 11.49% in June 2026. The stock trades at a PE of 10.49 against an industry PE of 22.42, below the sector average.

Tata Steel: Market Cap of Rs 2,20,272 Crore

Tata Steel is one of the world's major steel makers, with operations in India, the UK and the Netherlands. It reported FY26 revenue of Rs 2,33,541.72 crore, up 6.12% year on year, and net profit of Rs 10,885.82 crore, up 242.99%. Operating margin was 15.12% in FY26.

The stock trades at a PE of 19.56 against an industry PE of 22.42, below the sector average. The dividend yield is 2.27%. In the June 2026 quarter, revenue rose 14.14% to Rs 61,026.97 crore and net profit grew 18.82% to Rs 2,385.24 crore. Domestic institutions raised their holding from 26.25% in June 2025 to 26.62% in June 2026.

Stocks With Price-to-Book of 1-3 and Profit Growth: Financial Comparison on Growth and Margins

The table compares scale and growth across these stocks with price-to-book of 1-3 and profit growth. 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)	Latest Quarter Revenue Growth	Net Profit Growth (YoY)	Latest Quarter Profit Growth	Operating Margin (Latest Quarter)
LIC	9,90,211.25	57,453.15	6.97%	18.90%	23.98%	12.00%
NTPC	1,89,798.56	30,009.98	6.94%	48.19%	12.90%	35.04%
JSW Steel	1,86,718	25,508	10.55%	630.68%	112.58%	21.45%
Tata Steel	2,33,541.72	10,885.82	14.14%	242.99%	18.82%	15.31%

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Institutional Holding in LIC, NTPC, JSW Steel and Tata Steel

Institutional holding shows who is backing these stocks with price-to-book of 1-3 and profit growth alongside the promoter. The table uses the latest reported quarter for each. Tata Steel has the deepest institutional backing, with FII and DII together holding 45.99% as of June 2026. Domestic institutions increased their holding over the past year in LIC (from 1.36% to 6.17%), NTPC (from 28.92% to 29.44%), JSW Steel (from 10.92% to 11.49%) and Tata Steel (from 26.25% to 26.62%).

Stock	Promoter	FII	DII	Public	Quarter
LIC	90.00%	1.55%	6.17%	2.28%	September 2026
NTPC	51.10%	16.30%	29.44%	3.15%	June 2026
JSW Steel	44.29%	25.92%	11.49%	18.30%	June 2026
Tata Steel	32.95%	19.37%	26.62%	21.06%	June 2026

Risks to Weigh in Stocks With Price-to-Book of 1-3 and Profit Growth

Being careful with stocks with price-to-book of 1-3 and profit growth 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: A low PE can also reflect slower growth, so compare each PE with the growth rate instead of reading it alone.
• 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 Price-to-Book of 1-3 and Profit Growth

Picking from stocks with price-to-book of 1-3 and profit growth 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 22.42) 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 stocks with price-to-book of 1-3 and profit growth, LIC stands out for the highest return on equity at 32.53%, NTPC for the biggest five-year price gain at 110.40%, JSW Steel for the strongest latest-quarter profit growth at 112.58% and Tata Steel for 6.12% revenue growth in FY26. 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 price-to-book of 1-3 and profit growth 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 Price-to-Book of 1-3 and Profit Growth to Watch

Which are the best stocks with price-to-book of 1-3 and profit growth to watch for multibagger potential?

Ans. LIC, NTPC, JSW Steel and Tata Steel are the 4 names this list highlights, with market caps of Rs 4,98,410 crore, Rs 3,04,475 crore, Rs 2,93,638 crore and Rs 2,20,272 crore respectively. LIC is notable for the highest return on equity at 32.53%. NTPC stands out for the biggest five-year price gain at 110.40%. JSW Steel offers the strongest latest-quarter profit growth at 112.58%. Tata Steel brings 6.12% revenue growth in FY26. These are watchlist names for stocks with price-to-book of 1-3 and profit growth, not recommendations, so match each one to your own risk profile and time horizon.

Is LIC a good stock for long-term investors?

Ans. LIC has a return on equity of 32.53%, a PE of 8.30 against an industry PE of 10.47 and a market cap of Rs 4,98,410 crore. Net profit has compounded at 93.19% a year since FY22, and FY26 revenue rose 10.23% while June 2026 quarter net profit grew 23.98%. Long-term returns in stocks with price-to-book of 1-3 and profit growth depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.

Can NTPC become a multibagger from here?

Ans. NTPC has already gained 110.40% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in stocks with price-to-book of 1-3 and profit growth requires earnings to keep growing faster than the market for several years. Net profit has compounded at 18.01% a year since FY22, and June 2026 quarter net profit grew 12.90%. At a PE of 10.75 against an industry PE of 21.61, valuation should be checked against that growth before investing.

What is the market cap of LIC, NTPC, JSW Steel and Tata Steel?

Ans. As of 21 October 2026, LIC has a market cap of Rs 4,98,410 crore, NTPC has a market cap of Rs 3,04,475 crore, JSW Steel has a market cap of Rs 2,93,638 crore and Tata Steel has a market cap of Rs 2,20,272 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 price-to-book of 1-3 and profit growth.

What are the risks of investing in stocks with price-to-book of 1-3 and profit growth?

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. Comparing each PE with growth gives a fuller picture than the PE alone.

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, NTPC, JSW Steel and Tata Steel?

Ans. As of the latest reported quarter, FII and DII together hold 7.72% of LIC (1.55% and 6.17%), 45.74% of NTPC (16.30% and 29.44%), 37.41% of JSW Steel (25.92% and 11.49%) and 45.99% of Tata Steel (19.37% and 26.62%). Rising institutional holding is a useful signal in stocks with price-to-book of 1-3 and profit growth, though it should be read with earnings trends rather than on its own.