4 Top Low PE Stocks With 100-200 Per Cent Five-Year Return to Watch for Future Multibagger Potential: NTPC, Canara Bank, Ashok Leyland and NHPC

Low PE stocks with 100-200 per cent five-year return to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. NTPC, Canara Bank, Ashok Leyland and NHPC meet that test, with market caps from Rs 72,907 crore to Rs 3.04 lakh crore and NTPC offering the strongest latest-quarter profit growth at 12.90%. Each of these companies has a PE ratio below 25 and a five-year price return between 100 and 200 per cent, and net profit rose in FY26 and in the latest quarter.

This list covers companies with a PE ratio below 25 and a five-year price return between 100 and 200 per cent, rising profit in FY26 and the latest quarter, and complete, verifiable financials, ranked by market capitalisation. The companies here range from midcaps to largecaps in size. Investors screening low PE stocks with 100-200 per cent five-year return usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 20 October 2026 and are drawn from NSE and BSE data and company filings.

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What Are Low PE Stocks With 100-200 Per Cent Five-Year Return and Why Do They Attract Multibagger Interest?

Low PE stocks with 100-200 per cent five-year return are shares that more than doubled in five years yet still trade at modest multiples. The four here cover power generation, banking, hydropower and commercial vehicles.

Good returns at a modest multiple mean earnings have kept pace with the price. For low PE stocks with 100-200 per cent five-year return, FY26 profit also rose. A sensible way to study low PE stocks with 100-200 per cent five-year return is to look at profit growth, returns and valuation side by side. Below, each of low PE stocks with 100-200 per cent five-year return gets its own breakdown of growth, returns and valuation. Treat low PE stocks with 100-200 per cent five-year return as a research list, since share prices and rankings change with every earnings season.

Low PE Stocks With 100-200 Per Cent Five-Year Return at a Glance: Price, Market Cap, PE, ROE and Price to Book

Prices are closing prices as of 20 October 2026. Canara Bank has the lowest PE of the group at 5.23, while Ashok Leyland posts the highest return on equity at 24.37%.

Stock	CMP (Rs)	Market Cap (Rs Cr)	PE	Industry PE	ROE	Price to Book	52-Week Range (Rs)
NTPC	309	3,04,475	10.75	21.61	13.31%	1.50	305.70 to 414.40
Canara Bank	122	1,06,353	5.23	12.02	16.77%	0.87	116.51 to 162.89
Ashok Leyland	147.72	86,933	23.31	23.62	24.37%	6.10	134.21 to 215.42
NHPC	70.70	72,907	17.08	22.18	9.09%	1.76	70.25 to 87.81

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.

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. 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%.

Canara Bank: 34.48% Profit CAGR Since FY22

Canara Bank is a large government-owned bank with a wide branch network and a growing retail and digital business. It reported FY26 total income of Rs 1,53,083.22 crore, up 0.28% year on year, and net profit of Rs 18,951.23 crore, up 9.32%. Net profit has compounded at 34.48% a year since FY22, while total income has grown 12.89% a year.

The stock trades at a PE of 5.23 against an industry PE of 12.02, below the sector average, with a return on equity of 16.77%. The dividend yield is 3.58%. Net profit for the September 2026 quarter grew 6.50% to Rs 5,182.03 crore. The share price has gained 198.67% over five years. Foreign investors raised their holding from 11.90% in September 2025 to 12.27% in September 2026.

Ashok Leyland: Return on Equity of 24.37%

Ashok Leyland makes trucks, buses and defence vehicles and is among the largest commercial vehicle makers in India. It reported FY26 revenue of Rs 56,946.90 crore, up 16.47% year on year, and net profit of Rs 3,720.98 crore, up 10.00%. Revenue has compounded at 21.28% a year since FY22. Operating margin was 19.17% in FY26.

In the June 2026 quarter, revenue rose 12.29% to Rs 13,258.24 crore and net profit grew 1.53% to Rs 667.77 crore. The share price has gained 106.37% over five years. Domestic institutions raised their holding from 13.61% in July 2025 to 15.76% in June 2026. The stock trades at a PE of 23.31 against an industry PE of 23.62, below the sector average, with a return on equity of 24.37%. The dividend yield is 2.36%.

NHPC: Five-Year Gain of 104.08%

NHPC is a government-owned hydropower company that is also adding solar and wind capacity. It reported FY26 revenue of Rs 12,686.09 crore, up 9.23% year on year, and net profit of Rs 3,237.10 crore, up 3.28%. Revenue has compounded at 5.84% a year since FY22. Operating margin was 62.61% in FY26.

The stock trades at a PE of 17.08 against an industry PE of 22.18, below the sector average. The dividend yield is 2.22%. In the June 2026 quarter, revenue rose 15.02% to Rs 3,959.72 crore and net profit grew 4.15% to Rs 1,178.09 crore. The share price has gained 104.08% over five years. Domestic institutions raised their holding from 10.55% in September 2025 to 14.27% in September 2026.

Low PE Stocks With 100-200 Per Cent Five-Year Return: Financial Comparison on Growth and Margins

The table compares scale and growth across these low PE stocks with 100-200 per cent five-year return. 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)	4-Year Revenue CAGR	Net Profit Growth (YoY)	Latest Quarter Profit Growth
NTPC	1,89,798.56	30,009.98	8.89%	48.19%	12.90%
Canara Bank	1,53,083.22	18,951.23	12.89%	9.32%	6.50%
Ashok Leyland	56,946.90	3,720.98	21.28%	10.00%	1.53%
NHPC	12,686.09	3,237.10	5.84%	3.28%	4.15%

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Institutional Holding in NTPC, Canara Bank, Ashok Leyland and NHPC

Institutional holding shows who is backing these low PE stocks with 100-200 per cent five-year return alongside the promoter. The table uses the latest reported quarter for each. NTPC has the deepest institutional backing, with FII and DII together holding 45.74% as of June 2026. Domestic institutions increased their holding over the past year in NTPC (from 28.92% to 29.44%), Ashok Leyland (from 13.61% to 15.76%) and NHPC (from 10.55% to 14.27%).

Stock	Promoter	FII	DII	Public	Quarter
NTPC	51.10%	16.30%	29.44%	3.15%	June 2026
Canara Bank	62.93%	12.27%	12.38%	12.42%	September 2026
Ashok Leyland	51.51%	20.68%	15.76%	12.05%	June 2026
NHPC	61.39%	13.17%	14.27%	11.17%	September 2026

Risks to Weigh in Low PE Stocks With 100-200 Per Cent Five-Year Return

Being careful with low PE stocks with 100-200 per cent five-year return 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 Low PE Stocks With 100-200 Per Cent Five-Year Return

Picking from low PE stocks with 100-200 per cent five-year return 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 (12.02 to 23.62) 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 low PE stocks with 100-200 per cent five-year return, NTPC stands out for the strongest latest-quarter profit growth at 12.90%, Canara Bank for the fastest profit growth, 34.48% a year since FY22, Ashok Leyland for the highest return on equity at 24.37% and NHPC for 9.23% 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 low PE stocks with 100-200 per cent five-year return 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 Low PE Stocks With 100-200 Per Cent Five-Year Return to Watch

Which are the best low PE stocks with 100-200 per cent five-year return to watch for multibagger potential?

Ans. NTPC, Canara Bank, Ashok Leyland and NHPC are the 4 names this list highlights, with market caps of Rs 3,04,475 crore, Rs 1,06,353 crore, Rs 86,933 crore and Rs 72,907 crore respectively. NTPC is notable for the strongest latest-quarter profit growth at 12.90%. Canara Bank stands out for the fastest profit growth, 34.48% a year since FY22. Ashok Leyland offers the highest return on equity at 24.37%. NHPC brings 9.23% revenue growth in FY26. These are watchlist names for low PE stocks with 100-200 per cent five-year return, not recommendations, so match each one to your own risk profile and time horizon.

Is Ashok Leyland a good stock for long-term investors?

Ans. Ashok Leyland has a return on equity of 24.37%, a PE of 23.31 against an industry PE of 23.62 and a market cap of Rs 86,933 crore. FY26 revenue rose 16.47%, and June 2026 quarter net profit grew 1.53%. Long-term returns in low PE stocks with 100-200 per cent five-year return depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.

Can Canara Bank become a multibagger from here?

Ans. Canara Bank has already gained 198.67% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in low PE stocks with 100-200 per cent five-year return requires earnings to keep growing faster than the market for several years. Net profit has compounded at 34.48% a year since FY22, and FY26 revenue rose 0.28%. At a PE of 5.23 against an industry PE of 12.02, valuation should be checked against that growth before investing.

What is the market cap of NTPC, Canara Bank, Ashok Leyland and NHPC?

Ans. As of 20 October 2026, NTPC has a market cap of Rs 3,04,475 crore, Canara Bank has a market cap of Rs 1,06,353 crore, Ashok Leyland has a market cap of Rs 86,933 crore and NHPC has a market cap of Rs 72,907 crore. NTPC is the largest of the group. 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 low PE stocks with 100-200 per cent five-year return.

What are the risks of investing in low PE stocks with 100-200 per cent five-year return?

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 Canara Bank trading below its industry PE?

Ans. Canara Bank trades at a PE of 5.23 against an industry PE of 12.02. A lower PE means investors pay less for each rupee of earnings, but it should be read with growth (net profit has compounded at 34.48% a year since FY22 and FY26 revenue rose 0.28%) and balance sheet strength before drawing a conclusion.

How much do institutions hold in NTPC, Canara Bank, Ashok Leyland and NHPC?

Ans. As of the latest reported quarter, FII and DII together hold 45.74% of NTPC (16.30% and 29.44%), 24.65% of Canara Bank (12.27% and 12.38%), 36.44% of Ashok Leyland (20.68% and 15.76%) and 27.44% of NHPC (13.17% and 14.27%). Rising institutional holding is a useful signal in low PE stocks with 100-200 per cent five-year return, though it should be read with earnings trends rather than on its own.