4 Smallcap High DII Holding Stocks to Watch for Future Multibagger Potential: Jubilant FoodWorks, Kalpataru Projects, Kajaria Ceramics and Metropolis

High DII holding stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Jubilant FoodWorks, Kalpataru Projects, Kajaria Ceramics and Metropolis meet that test, with market caps from Rs 10,956 crore to Rs 27,849 crore and Jubilant FoodWorks offering the highest return on equity at 18.69%. Each of these companies has a market capitalisation below Rs 30,000 crore and domestic institutional holding of at least 25 per cent and a return on equity of at least 12 per cent, and net profit rose in FY26 and in the latest quarter.

This list covers companies with a market capitalisation below Rs 30,000 crore and domestic institutional holding of at least 25 per cent and a return on equity of at least 12 per cent, rising profit in FY26 and the latest quarter, and complete, verifiable financials, ranked by market capitalisation. Each company has a market cap below Rs 30,000 crore. Investors screening high DII holding stocks usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 23 October 2026 and are drawn from NSE and BSE data and company filings.

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What Are High DII Holding Stocks and Why Do They Attract Multibagger Interest?

High DII holding stocks are shares of smaller companies where mutual funds, insurers and other domestic institutions own a large share, a sign of deep local backing. The four here cover quick service restaurants, engineering and construction, ceramic tiles and diagnostics.

Strong domestic institutional ownership shows that India's own long-term money backs the business. For high DII holding stocks, both FY26 and the latest quarter showed growth. With high DII holding 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 high DII holding stocks are complete. Read each company's latest results and exchange filings before acting on high DII holding stocks.

High DII Holding Stocks at a Glance: Price, Market Cap, PE, ROE and Price to Book

Prices are closing prices as of 23 October 2026. Kalpataru Projects has the lowest PE of the group at 21.02, while Jubilant FoodWorks posts the highest return on equity at 18.69%.

Stock	CMP (Rs)	Market Cap (Rs Cr)	PE	Industry PE	ROE	Price to Book	52-Week Range (Rs)
Jubilant FoodWorks	404	27,849	61.88	59.28	18.69%	12.15	404.00 to 622.95
Kalpataru Projects International	1,291.60	23,718	21.02	22.89	13.37%	3.05	1,007.10 to 1,490.00
Kajaria Ceramics	1,136.60	18,864	34.44	30.35	15.83%	6.16	869.60 to 1,293.80
Metropolis Healthcare	522.95	10,956	54.00	60.75	12.56%	7.29	453.50 to 733.00

Jubilant FoodWorks: Market Cap of Rs 27,849 Crore

Jubilant FoodWorks runs Domino's Pizza and Dunkin' stores in India and also operates Popeyes and Hong's Kitchen. It reported FY26 revenue of Rs 9,586.64 crore, up 17.22% year on year, and net profit of Rs 386.03 crore, up 54.37%. Revenue has compounded at 21.24% a year since FY22. Operating margin was 20.96% in FY26.

In the June 2026 quarter, revenue rose 13.55% to Rs 2,588.34 crore and net profit grew 6.03% to Rs 100.03 crore. Domestic institutions raised their holding from 33.25% in September 2025 to 40.34% in September 2026. The stock trades at a PE of 61.88 against an industry PE of 59.28, with a return on equity of 18.69%.

Kalpataru Projects: Revenue Up 21.76% in FY26

Kalpataru Projects International executes transmission, railway, building and water projects in India and abroad. It reported FY26 revenue of Rs 27,247.93 crore, up 21.76% year on year, and net profit of Rs 1,030.63 crore, up 81.68%. Net profit has compounded at 17.81% a year since FY22, while revenue has grown 16.35% a year. Operating margin was 9.48% in FY26. The debt-to-equity ratio is 0.46.

The stock trades at a PE of 21.02 against an industry PE of 22.89, below the sector average, with a return on equity of 13.37%. In the June 2026 quarter, revenue rose 4.81% to Rs 6,485.17 crore and net profit grew 45.85% to Rs 311.53 crore.

Kajaria Ceramics: Debt-to-Equity of 0.07

Kajaria Ceramics is the largest tile maker in India by capacity, selling ceramic and vitrified tiles across the country. It reported FY26 revenue of Rs 4,883.22 crore, up 4.39% year on year, and net profit of Rs 490.06 crore, up 40.70%. Net profit has compounded at 6.37% a year since FY22, while revenue has grown 6.95% a year. Operating margin was 18.05% in FY26. The debt-to-equity ratio is 0.07, which keeps interest costs low.

In the June 2026 quarter, revenue rose 20.54% to Rs 1,345.22 crore and net profit grew 55.04% to Rs 171.03 crore. The stock trades at a PE of 34.44 against an industry PE of 30.35, with a return on equity of 15.83%.

Metropolis: Revenue Up 24.15% in FY26

Metropolis Healthcare provides pathology and diagnostic services through a network of laboratories, clinical labs and collection centres. It reported FY26 revenue of Rs 1,671.43 crore, up 24.15% year on year, and net profit of Rs 191.18 crore, up 31.39%. Revenue has compounded at 7.62% a year since FY22. Operating margin was 25.63% in FY26. The debt-to-equity ratio is 0.15, which keeps interest costs low.

The stock trades at a PE of 54.00 against an industry PE of 60.75, below the sector average, with a return on equity of 12.56%. In the June 2026 quarter, revenue rose 15.69% to Rs 455.32 crore and net profit grew 25.70% to Rs 56.88 crore. Domestic institutions raised their holding from 32.40% in June 2025 to 35.12% in June 2026.

High DII Holding Stocks: Financial Comparison on Growth and Margins

The table compares scale and growth across these high DII holding 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	Latest Quarter Revenue Growth	Operating Margin (Latest Quarter)
Jubilant FoodWorks	9,586.64	386.03	17.22%	21.24%	13.55%	20.37%
Kalpataru Projects	27,247.93	1,030.63	21.76%	16.35%	4.81%	9.97%
Kajaria Ceramics	4,883.22	490.06	4.39%	6.95%	20.54%	20.98%
Metropolis	1,671.43	191.18	24.15%	7.62%	15.69%	25.83%

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Institutional Holding in Jubilant FoodWorks, Kalpataru Projects, Kajaria Ceramics and Metropolis

Institutional holding shows who is backing these high DII holding stocks alongside the promoter. The table uses the latest reported quarter for each. Kalpataru Projects has the deepest institutional backing, with FII and DII together holding 55.61% as of June 2026. Domestic institutions increased their holding over the past year in Jubilant FoodWorks (from 33.25% to 40.34%) and Metropolis (from 32.40% to 35.12%).

Stock	Promoter	FII	DII	Public	Quarter
Jubilant FoodWorks	40.27%	13.29%	40.34%	6.10%	September 2026
Kalpataru Projects	33.58%	10.78%	44.83%	10.81%	June 2026
Kajaria Ceramics	47.69%	11.58%	26.25%	14.48%	June 2026
Metropolis	48.86%	11.03%	35.12%	4.99%	June 2026

Risks to Weigh in High DII Holding Stocks

Being careful with high DII holding 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: Kajaria Ceramics trades at a PE of 34.44 against an industry PE of 30.35, 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 High DII Holding Stocks

Picking from high DII holding 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 60.75) 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 high DII holding stocks, Jubilant FoodWorks stands out for the highest return on equity at 18.69%, Kalpataru Projects for the fastest profit growth, 17.81% a year since FY22, Kajaria Ceramics for the strongest latest-quarter profit growth at 55.04% and Metropolis for 24.15% 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 high DII holding 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 High DII Holding Stocks to Watch

Which are the best high DII holding stocks to watch for multibagger potential?

Ans. Jubilant FoodWorks, Kalpataru Projects, Kajaria Ceramics and Metropolis are the 4 names this list highlights, with market caps of Rs 27,849 crore, Rs 23,718 crore, Rs 18,864 crore and Rs 10,956 crore respectively. Jubilant FoodWorks is notable for the highest return on equity at 18.69%. Kalpataru Projects stands out for the fastest profit growth, 17.81% a year since FY22. Kajaria Ceramics offers the strongest latest-quarter profit growth at 55.04%. Metropolis brings 24.15% revenue growth in FY26. These are watchlist names for high DII holding stocks, not recommendations, so match each one to your own risk profile and time horizon.

Is Jubilant FoodWorks a good stock for long-term investors?

Ans. Jubilant FoodWorks has a return on equity of 18.69%, a PE of 61.88 against an industry PE of 59.28 and a market cap of Rs 27,849 crore. FY26 revenue rose 17.22%, and June 2026 quarter net profit grew 6.03%. Long-term returns in high DII holding stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.

Can Kalpataru Projects become a multibagger from here?

Ans. Kalpataru Projects has a market cap of Rs 23,718 crore. A multibagger outcome in high DII holding stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 17.81% a year since FY22, and FY26 revenue rose 21.76%. At a PE of 21.02 against an industry PE of 22.89, valuation should be checked against that growth before investing.

What is the market cap of Jubilant FoodWorks, Kalpataru Projects, Kajaria Ceramics and Metropolis?

Ans. As of 23 October 2026, Jubilant FoodWorks has a market cap of Rs 27,849 crore, Kalpataru Projects has a market cap of Rs 23,718 crore, Kajaria Ceramics has a market cap of Rs 18,864 crore and Metropolis has a market cap of Rs 10,956 crore. All of them qualify as smallcaps. 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 high DII holding stocks.

What are the risks of investing in high DII holding 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. Kajaria Ceramics trades at a PE of 34.44 against an industry PE of 30.35, so earnings growth needs to hold up.

Is Kalpataru Projects trading below its industry PE?

Ans. Kalpataru Projects trades at a PE of 21.02 against an industry PE of 22.89. A lower PE means investors pay less for each rupee of earnings, but it should be read with growth (net profit has compounded at 17.81% a year since FY22 and FY26 revenue rose 21.76%) and balance sheet strength before drawing a conclusion.

How much do institutions hold in Jubilant FoodWorks, Kalpataru Projects, Kajaria Ceramics and Metropolis?

Ans. As of the latest reported quarter, FII and DII together hold 53.63% of Jubilant FoodWorks (13.29% and 40.34%), 55.61% of Kalpataru Projects (10.78% and 44.83%), 37.83% of Kajaria Ceramics (11.58% and 26.25%) and 46.15% of Metropolis (11.03% and 35.12%). Rising institutional holding is a useful signal in high DII holding stocks, though it should be read with earnings trends rather than on its own.