4 Smallcap High Growth Stocks to Watch for Future Multibagger Potential: Tata Elxsi, Kalpataru Projects, Capri Global and Great Eastern Shipping

High growth stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Tata Elxsi, Kalpataru Projects, Capri Global and Great Eastern Shipping meet that test, with market caps from Rs 21,175 crore to Rs 23,957 crore and Tata Elxsi offering the highest return on equity at 24.73%. Each of these companies has a market capitalisation below Rs 30,000 crore and FY26 and latest quarter profit growth of at least 25 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 market capitalisation below Rs 30,000 crore and FY26 and latest quarter profit growth of at least 25 per cent and a return on equity above 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 growth 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 High Growth Stocks and Why Do They Attract Multibagger Interest?

High growth stocks are shares of smaller companies that are growing profit at a fast pace. The four here cover design engineering, infrastructure construction, finance and shipping.

Fast profit growth in a smaller company can lift the price for years. For high growth stocks, the pace held in both FY26 and the latest quarter. A sensible way to study high growth stocks is to look at profit growth, returns and valuation side by side. Below, each of high growth stocks gets its own breakdown of growth, returns and valuation. Treat high growth stocks as a research list, since share prices and rankings change with every earnings season.

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

Prices are closing prices as of 22 October 2026. Great Eastern Shipping has the lowest PE of the group at 5.65, while Tata Elxsi posts the highest return on equity at 24.73%.

Stock	CMP (Rs)	Market Cap (Rs Cr)	PE	Industry PE	ROE	Price to Book	52-Week Range (Rs)
Tata Elxsi	3,846.80	23,957	35.75	20.69	24.73%	8.22	2,996.00 to 5,950.00
Kalpataru Projects International	1,302.80	23,924	21.20	22.89	13.37%	3.08	1,007.10 to 1,490.00
Capri Global Capital	237.17	23,837	21.14	17.97	13.18%	3.31	151.10 to 287.45
The Great Eastern Shipping Company	1,518.60	21,175	5.65	8.87	17.35%	1.25	1,002.55 to 1,798.00

Tata Elxsi: 33.09% Profit CAGR Since FY11

Tata Elxsi provides design and technology services to the automotive, media, communications and healthcare industries. It reported FY15 revenue of Rs 852.75 crore, up 8.31% year on year, and net profit of Rs 102.02 crore, up 41.18%. Net profit has compounded at 33.09% a year since FY11, while revenue has grown 19.39% a year. Operating margin was 21.35% in FY15. The debt-to-equity ratio is 0.05, which keeps interest costs low.

In the March 2015 quarter, revenue rose 8.97% to Rs 230.77 crore and net profit grew 36.52% to Rs 29.83 crore. The stock trades at a PE of 35.75 against an industry PE of 20.69, with a return on equity of 24.73%. The dividend yield is 1.95%.

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 21.20 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.

Capri Global: 46.68% Profit CAGR Since FY22

Capri Global Capital is a non-banking finance company that offers housing loans, construction finance, gold loans and loans to small businesses. It reported FY26 revenue of Rs 4,742.01 crore, up 45.87% year on year, and net profit of Rs 949.15 crore, up 98.35%. Net profit has compounded at 46.68% a year since FY22, while revenue has grown 48.25% a year. Operating margin was 65.31% in FY26.

In the June 2026 quarter, revenue rose 57.33% to Rs 1,581.21 crore and net profit grew 102.05% to Rs 353.38 crore. The share price has gained 101.76% over five years and 27.72% over the past year. Foreign investors raised their holding from 4.83% in September 2025 to 13.00% in September 2026. The stock trades at a PE of 21.14 against an industry PE of 17.97, with a return on equity of 13.18%.

Great Eastern Shipping: 47.03% Profit CAGR Since FY22

The Great Eastern Shipping Company owns and operates crude tankers, product tankers and dry bulk carriers and also has an offshore business. It reported FY26 revenue of Rs 6,312.42 crore, up 2.53% year on year, and net profit of Rs 2,942.52 crore, up 25.52%. Net profit has compounded at 47.03% a year since FY22, while revenue has grown 14.53% a year. Operating margin was 66.75% in FY26. The debt-to-equity ratio is 0.06, which keeps interest costs low.

The stock trades at a PE of 5.65 against an industry PE of 8.87, below the sector average, with a return on equity of 17.35%. The dividend yield is 2.37%. In the June 2026 quarter, revenue rose 71.01% to Rs 2,286.21 crore and net profit grew 159.43% to Rs 1,308.84 crore. The share price has gained 330.69% over five years and 42.23% over the past year. Foreign investors raised their holding from 24.88% in September 2025 to 29.52% in September 2026.

High Growth Stocks: Financial Comparison on Growth and Margins

The table compares scale and growth across these high growth 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)
Tata Elxsi	852.75	102.02	8.31%	19.39%	33.09%	20.27%
Kalpataru Projects	27,247.93	1,030.63	21.76%	16.35%	17.81%	9.97%
Capri Global	4,742.01	949.15	45.87%	48.25%	46.68%	68.84%
Great Eastern Shipping	6,312.42	2,942.52	2.53%	14.53%	47.03%	80.71%

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Institutional Holding in Tata Elxsi, Kalpataru Projects, Capri Global and Great Eastern Shipping

Institutional holding shows who is backing these high growth 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.

Stock	Promoter	FII	DII	Public	Quarter
Tata Elxsi	43.89%	8.00%	9.98%	38.13%	September 2026
Kalpataru Projects	33.58%	10.78%	44.83%	10.81%	June 2026
Capri Global	59.92%	13.00%	17.04%	10.04%	September 2026
Great Eastern Shipping	30.07%	29.52%	11.62%	28.79%	September 2026

Risks to Weigh in High Growth Stocks

Being careful with high growth 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: Tata Elxsi trades at a PE of 35.75 against an industry PE of 20.69, 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 Growth Stocks

Picking from high growth 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 (8.87 to 22.89) 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 growth stocks, Tata Elxsi stands out for the highest return on equity at 24.73%, Kalpataru Projects for 21.76% revenue growth in FY26, Capri Global for 45.87% revenue growth in FY26 and Great Eastern Shipping for the fastest profit growth, 47.03% a year since FY22. 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 growth 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 Growth Stocks to Watch

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

Ans. Tata Elxsi, Kalpataru Projects, Capri Global and Great Eastern Shipping are the 4 names this list highlights, with market caps of Rs 23,957 crore, Rs 23,924 crore, Rs 23,837 crore and Rs 21,175 crore respectively. Tata Elxsi is notable for the highest return on equity at 24.73%. Kalpataru Projects stands out for 21.76% revenue growth in FY26. Capri Global offers 45.87% revenue growth in FY26. Great Eastern Shipping brings the fastest profit growth, 47.03% a year since FY22. These are watchlist names for high growth stocks, not recommendations, so match each one to your own risk profile and time horizon.

Is Tata Elxsi a good stock for long-term investors?

Ans. Tata Elxsi has a return on equity of 24.73%, a PE of 35.75 against an industry PE of 20.69 and a market cap of Rs 23,957 crore. Net profit has compounded at 33.09% a year since FY11, and FY15 revenue rose 8.31% while March 2015 quarter net profit grew 36.52%. Long-term returns in high growth stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.

Can Great Eastern Shipping become a multibagger from here?

Ans. Great Eastern Shipping has already gained 330.69% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in high growth stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 47.03% a year since FY22, and FY26 revenue rose 2.53%. At a PE of 5.65 against an industry PE of 8.87, valuation should be checked against that growth before investing.

What is the market cap of Tata Elxsi, Kalpataru Projects, Capri Global and Great Eastern Shipping?

Ans. As of 22 October 2026, Tata Elxsi has a market cap of Rs 23,957 crore, Kalpataru Projects has a market cap of Rs 23,924 crore, Capri Global has a market cap of Rs 23,837 crore and Great Eastern Shipping has a market cap of Rs 21,175 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 growth stocks.

What are the risks of investing in high growth 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. Tata Elxsi trades at a PE of 35.75 against an industry PE of 20.69, so earnings growth needs to hold up.

Why is Tata Elxsi trading at a PE of 35.75?

Ans. Tata Elxsi's PE of 35.75 compares with an industry PE of 20.69. The market is paying a premium for a return on equity of 24.73%, profit growth of 33.09% a year since FY11 and latest-quarter profit growth of 36.52%, which also means the stock is more sensitive if growth slows. Investors in high growth stocks who are comfortable with higher valuation risk may prefer to stagger purchases instead of investing in one go.

How much do institutions hold in Tata Elxsi, Kalpataru Projects, Capri Global and Great Eastern Shipping?

Ans. As of the latest reported quarter, FII and DII together hold 17.98% of Tata Elxsi (8.00% and 9.98%), 55.61% of Kalpataru Projects (10.78% and 44.83%), 30.04% of Capri Global (13.00% and 17.04%) and 41.14% of Great Eastern Shipping (29.52% and 11.62%). Rising institutional holding is a useful signal in high growth stocks, though it should be read with earnings trends rather than on its own.