4 Smallcap Rising Profit Stocks to Watch for Future Multibagger Potential: Metro Brands, Kajaria Ceramics, Happy Forgings and CarTrade Tech

Rising profit stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Metro Brands, Kajaria Ceramics, Happy Forgings and CarTrade Tech meet that test, with market caps from Rs 15,327 crore to Rs 24,494 crore and Metro Brands offering the highest return on equity at 20.63%. Each of these companies has a market capitalisation below Rs 30,000 crore and profit growth of at least 10 per cent in FY26 and in the latest quarter, and revenue growth of at least 10 per cent in the latest quarter, 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 profit growth of at least 10 per cent in FY26 and in the latest quarter, and revenue growth of at least 10 per cent in the latest quarter, 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 rising profit 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.

Click Here – Get Free Investment Predictions

What Are Rising Profit Stocks and Why Do They Attract Multibagger Interest?

Rising profit stocks are shares of smaller companies where profit and sales are both climbing in the latest results. The four here cover footwear retail, ceramics, forgings and an online auto marketplace.

Profit and revenue rising together is the cleanest sign of real demand. For rising profit stocks, both FY26 and the latest quarter showed growth. Investors researching rising profit stocks get a fuller picture by reading growth and valuation together. The table below lines up rising profit stocks on size, growth and valuation, using complete FY26 and latest quarter numbers. Past performance does not guarantee future returns, so use rising profit stocks as a starting point for your own research.

Rising Profit Stocks at a Glance: Price, Market Cap, PE and ROE

Prices are closing prices as of 22 October 2026. Kajaria Ceramics has the lowest PE of the group at 35.14, while Metro Brands posts the highest return on equity at 20.63%.

Stock	CMP (Rs)	Market Cap (Rs Cr)	PE	Industry PE	ROE	Debt to Equity	52-Week Range (Rs)
Metro Brands	854.95	24,494	59.39	38.47	20.63%	0.79	807.00 to 1,250.00
Kajaria Ceramics	1,159.60	19,246	35.14	30.35	15.83%	0.07	869.60 to 1,293.80
Happy Forgings	1,818	18,087	55.25	52.03	14.17%	0.15	888.75 to 2,470.00
CarTrade Tech	2,960.15	15,327	60.54	64.49	8.98%	0.06	1,600.00 to 3,290.50

Metro Brands: Return on Equity of 20.63%

Metro Brands sells footwear and accessories through its Metro, Mochi, Walkway and Crocs stores across India. It reported FY26 revenue of Rs 2,967.85 crore, up 14.13% year on year, and net profit of Rs 415.89 crore, up 17.33%. Net profit has compounded at 18.22% a year since FY22, while revenue has grown 20.63% a year. Operating margin was 33.98% in FY26.

In the September 2026 quarter, revenue rose 10.88% to Rs 753.21 crore and net profit grew 12.03% to Rs 77.28 crore. Promoters hold 71.80%, which keeps ownership stable. The stock trades at a PE of 59.39 against an industry PE of 38.47, with a return on equity of 20.63%.

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.

The stock trades at a PE of 35.14 against an industry PE of 30.35, with a return on equity of 15.83%. 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.

Happy Forgings: 20.66% Profit CAGR Since FY22

Happy Forgings makes complex, safety-critical forged and machined components for commercial vehicles, passenger vehicles, tractors and industrial customers. It reported FY26 revenue of Rs 1,577.15 crore, up 9.04% year on year, and net profit of Rs 301.63 crore, up 12.78%. Net profit has compounded at 20.66% a year since FY22, while revenue has grown 16.16% a year. Operating margin was 32.43% in FY26. The debt-to-equity ratio is 0.15, which keeps interest costs low.

In the June 2026 quarter, revenue rose 26.46% to Rs 460.50 crore and net profit grew 39.23% to Rs 91.46 crore. The share price is up 97.54% over the past year. Foreign investors raised their holding from 2.02% in September 2025 to 2.37% in September 2026. The stock trades at a PE of 55.25 against an industry PE of 52.03, with a return on equity of 14.17%.

CarTrade Tech: Revenue Up 22.27% in FY26

CarTrade Tech runs online marketplaces for new and used vehicles through platforms such as CarWale, CarTrade and Shriram Automall. It reported FY26 revenue of Rs 869.77 crore, up 22.27% year on year, and net profit of Rs 243.51 crore, up 67.63%. Revenue has compounded at 24.76% a year since FY22. Operating margin was 43.85% in FY26. The debt-to-equity ratio is 0.06, which keeps interest costs low.

The stock trades at a PE of 60.54 against an industry PE of 64.49, below the sector average. In the June 2026 quarter, revenue rose 15.74% to Rs 229.74 crore and net profit grew 20.59% to Rs 56.75 crore. The share price has gained 123.75% over five years and 18.74% over the past year. Domestic institutions raised their holding from 10.49% in June 2025 to 15.64% in June 2026.

Rising Profit Stocks: Financial Comparison on Growth and Margins

The table compares scale and growth across these rising profit 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)
Metro Brands	2,967.85	415.89	14.13%	20.63%	10.88%	30.22%
Kajaria Ceramics	4,883.22	490.06	4.39%	6.95%	20.54%	20.98%
Happy Forgings	1,577.15	301.63	9.04%	16.16%	26.46%	33.81%
CarTrade Tech	869.77	243.51	22.27%	24.76%	15.74%	43.98%

Check the Univest Screener for live data on these rising profit stocks

Institutional Holding in Metro Brands, Kajaria Ceramics, Happy Forgings and CarTrade Tech

Institutional holding shows who is backing these rising profit stocks alongside the promoter. The table uses the latest reported quarter for each. CarTrade Tech has the deepest institutional backing, with FII and DII together holding 70.01% as of June 2026. Domestic institutions increased their holding over the past year in CarTrade Tech (from 10.49% to 15.64%).

Stock	Promoter	FII	DII	Public	Quarter
Metro Brands	71.80%	3.73%	7.68%	16.79%	June 2026
Kajaria Ceramics	47.69%	11.58%	26.25%	14.48%	June 2026
Happy Forgings	78.44%	2.37%	14.93%	4.26%	September 2026
CarTrade Tech	Nil	54.37%	15.64%	29.99%	June 2026

Risks to Weigh in Rising Profit Stocks

Being careful with rising profit 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: Metro Brands trades at a PE of 59.39 against an industry PE of 38.47, 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 Rising Profit Stocks

Picking from rising profit 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 (30.35 to 64.49) 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.

Download the Univest iOS App or Univest Android App to track Metro Brands, Kajaria Ceramics, Happy Forgings and CarTrade Tech live prices.

Conclusion

Among rising profit stocks, Metro Brands stands out for the highest return on equity at 20.63%, Kajaria Ceramics for the strongest latest-quarter profit growth at 55.04%, Happy Forgings for the fastest profit growth, 20.66% a year since FY22 and CarTrade Tech for the biggest five-year price gain at 123.75%. 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 rising profit 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 Rising Profit Stocks to Watch

Which are the best rising profit stocks to watch for multibagger potential?

Ans. Metro Brands, Kajaria Ceramics, Happy Forgings and CarTrade Tech are the 4 names this list highlights, with market caps of Rs 24,494 crore, Rs 19,246 crore, Rs 18,087 crore and Rs 15,327 crore respectively. Metro Brands is notable for the highest return on equity at 20.63%. Kajaria Ceramics stands out for the strongest latest-quarter profit growth at 55.04%. Happy Forgings offers the fastest profit growth, 20.66% a year since FY22. CarTrade Tech brings the biggest five-year price gain at 123.75%. These are watchlist names for rising profit stocks, not recommendations, so match each one to your own risk profile and time horizon.

Is Metro Brands a good stock for long-term investors?

Ans. Metro Brands has a return on equity of 20.63%, a PE of 59.39 against an industry PE of 38.47 and a market cap of Rs 24,494 crore. Net profit has compounded at 18.22% a year since FY22, and FY26 revenue rose 14.13% while September 2026 quarter net profit grew 12.03%. Long-term returns in rising profit stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.

Can Happy Forgings become a multibagger from here?

Ans. Happy Forgings has a market cap of Rs 18,087 crore. A multibagger outcome in rising profit stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 20.66% a year since FY22, and FY26 revenue rose 9.04%. At a PE of 55.25 against an industry PE of 52.03, valuation should be checked against that growth before investing.

What is the market cap of Metro Brands, Kajaria Ceramics, Happy Forgings and CarTrade Tech?

Ans. As of 22 October 2026, Metro Brands has a market cap of Rs 24,494 crore, Kajaria Ceramics has a market cap of Rs 19,246 crore, Happy Forgings has a market cap of Rs 18,087 crore and CarTrade Tech has a market cap of Rs 15,327 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 rising profit stocks.

What are the risks of investing in rising profit 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. Metro Brands trades at a PE of 59.39 against an industry PE of 38.47, so earnings growth needs to hold up.

Why is Metro Brands trading at a PE of 59.39?

Ans. Metro Brands' PE of 59.39 compares with an industry PE of 38.47. The market is paying a premium for a return on equity of 20.63%, profit growth of 18.22% a year since FY22 and latest-quarter profit growth of 12.03%, which also means the stock is more sensitive if growth slows. Investors in rising profit 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 Metro Brands, Kajaria Ceramics, Happy Forgings and CarTrade Tech?

Ans. As of the latest reported quarter, FII and DII together hold 11.41% of Metro Brands (3.73% and 7.68%), 37.83% of Kajaria Ceramics (11.58% and 26.25%), 17.30% of Happy Forgings (2.37% and 14.93%) and 70.01% of CarTrade Tech (54.37% and 15.64%). Rising institutional holding is a useful signal in rising profit stocks, though it should be read with earnings trends rather than on its own.