4 Smallcap Stocks With PE Below 15 to Watch for Future Multibagger Potential: LIC Housing Finance, IIFL Finance, Great Eastern Shipping and CESC

Stocks with PE below 15 to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. LIC Housing Finance, IIFL Finance, Great Eastern Shipping and CESC meet that test, with market caps from Rs 18,015 crore to Rs 29,318 crore and LIC Housing Finance offering the lowest PE of the group at 5.11. Each of these companies has a market capitalisation below Rs 30,000 crore and a PE ratio below 15, 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 a PE ratio below 15, 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 stocks with PE below 15 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 PE Below 15 and Why Do They Attract Multibagger Interest?

Stocks with PE below 15 are shares of smaller companies that trade at low multiples of earnings. The four here cover housing finance, consumer finance, shipping and power distribution.

Small companies at low multiples can re-rate quickly when profit keeps rising, though they move more on news. For stocks with PE below 15, latest quarter profit also rose. Investors researching stocks with PE below 15 get a fuller picture by reading growth and valuation together. The table below lines up stocks with PE below 15 on size, growth and valuation, using complete FY26 and latest quarter numbers. Past performance does not guarantee future returns, so use stocks with PE below 15 as a starting point for your own research.

Stocks With PE Below 15 at a Glance: Price, Market Cap, PE, ROE and Price to Book

Prices are closing prices as of 21 October 2026. LIC Housing Finance has the lowest PE of the group at 5.11, while Great Eastern Shipping posts the highest return on equity at 17.35%.

Stock	CMP (Rs)	Market Cap (Rs Cr)	PE	Industry PE	ROE	Price to Book	52-Week Range (Rs)
LIC Housing Finance	503.75	29,318	5.11	17.68	13.53%	0.71	458.90 to 598.20
IIFL Finance	584.70	25,545	11.32	17.68	11.93%	1.84	409.10 to 705.00
The Great Eastern Shipping Company	1,506.30	21,175	5.65	8.87	17.35%	1.25	1,002.55 to 1,798.00
CESC	131.62	18,015	11.05	22.18	12.31%	1.44	128.31 to 204.50

LIC Housing Finance: 25.13% Profit CAGR Since FY22

LIC Housing Finance is a housing finance company promoted by Life Insurance Corporation of India that offers home loans and loans against property. It reported FY26 total income of Rs 28,843.49 crore, up 2.64% year on year, and net profit of Rs 5,604.24 crore, up 2.97%. Net profit has compounded at 25.13% a year since FY22, while total income has grown 9.58% a year.

Net profit for the June 2026 quarter grew 9.90% to Rs 1,499.03 crore. The stock trades at a PE of 5.11 against an industry PE of 17.68, below the sector average, with a return on equity of 13.53%. The dividend yield is 1.88%.

IIFL Finance: Revenue Up 30.64% in FY26

IIFL Finance is a diversified NBFC with a large gold loan, home loan and microfinance portfolio. It reported FY26 total income of Rs 13,373.83 crore, up 30.64% year on year, and net profit of Rs 1,816.70 crore, up 214.22%. Net profit has compounded at 11.20% a year since FY22, while total income has grown 17.47% a year.

The stock trades at a PE of 11.32 against an industry PE of 17.68, below the sector average. In the September 2026 quarter, total income rose 28.38% to Rs 4,248.21 crore and net profit grew 92.61% to Rs 805.01 crore. The share price has gained 115.01% over five years and 23.21% over the past year.

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.

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. 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%.

CESC: Profit Compounding at 3.60% a Year

CESC generates and distributes power, with a distribution licence area in Kolkata, and is growing its renewable portfolio. It reported FY26 revenue of Rs 18,927.29 crore, up 8.93% year on year, and net profit of Rs 1,617.57 crore, up 13.20%. Revenue has compounded at 10.22% a year since FY22. Operating margin was 26.27% in FY26.

The stock trades at a PE of 11.05 against an industry PE of 22.18, below the sector average, with a return on equity of 12.31%. The dividend yield is 4.44%. In the June 2026 quarter, revenue rose 5.18% to Rs 5,559 crore and net profit grew 3.71% to Rs 419 crore. Domestic institutions raised their holding from 25.38% in June 2025 to 26.14% in June 2026.

Stocks With PE Below 15: Financial Comparison on Growth and Margins

The table compares scale and growth across these stocks with PE below 15. Latest quarter means the most recent reported quarter for each company, and only metrics that are positive for every company are shown.

Stock	Total Income (Rs Cr)	Net Profit (Rs Cr)	Income Growth (YoY)	4-Year Income CAGR	4-Year Net Profit CAGR
LIC Housing Finance	28,843.49	5,604.24	2.64%	9.58%	25.13%
IIFL Finance	13,373.83	1,816.70	30.64%	17.47%	11.20%
Great Eastern Shipping	6,312.42	2,942.52	2.53%	14.53%	47.03%
CESC	18,927.29	1,617.57	8.93%	10.22%	3.60%

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Institutional Holding in LIC Housing Finance, IIFL Finance, Great Eastern Shipping and CESC

Institutional holding shows who is backing these stocks with PE below 15 alongside the promoter. The table uses the latest reported quarter for each. Great Eastern Shipping has the deepest institutional backing, with FII and DII together holding 41.14% as of September 2026. Domestic institutions increased their holding over the past year in CESC (from 25.38% to 26.14%).

Stock	Promoter	FII	DII	Public	Quarter
LIC Housing Finance	45.24%	18.93%	21.64%	14.19%	September 2026
IIFL Finance	24.76%	25.64%	7.85%	41.75%	September 2026
Great Eastern Shipping	30.07%	29.52%	11.62%	28.79%	September 2026
CESC	52.11%	11.47%	26.14%	10.28%	June 2026

Risks to Weigh in Stocks With PE Below 15

Being careful with stocks with PE below 15 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 PE Below 15

Picking from stocks with PE below 15 comes down to four checks, applied in order.

1. Check asset quality and net interest margin first, then return on equity and price to book. Debt-to-equity does not apply to lenders.
2. Compare each PE with the industry PE (8.87 to 22.18) 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 PE below 15, LIC Housing Finance stands out for the lowest PE of the group at 5.11, IIFL Finance for 30.64% revenue growth in FY26, Great Eastern Shipping for the highest return on equity at 17.35% and CESC for 8.93% 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 PE below 15 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 PE Below 15 to Watch

Which are the best stocks with PE below 15 to watch for multibagger potential?

Ans. LIC Housing Finance, IIFL Finance, Great Eastern Shipping and CESC are the 4 names this list highlights, with market caps of Rs 29,318 crore, Rs 25,545 crore, Rs 21,175 crore and Rs 18,015 crore respectively. LIC Housing Finance is notable for the lowest PE of the group at 5.11. IIFL Finance stands out for 30.64% revenue growth in FY26. Great Eastern Shipping offers the highest return on equity at 17.35%. CESC brings 8.93% revenue growth in FY26. These are watchlist names for stocks with PE below 15, not recommendations, so match each one to your own risk profile and time horizon.

Is Great Eastern Shipping a good stock for long-term investors?

Ans. Great Eastern Shipping has a return on equity of 17.35%, a PE of 5.65 against an industry PE of 8.87 and a market cap of Rs 21,175 crore. Net profit has compounded at 47.03% a year since FY22, and FY26 revenue rose 2.53% while June 2026 quarter net profit grew 159.43%. Long-term returns in stocks with PE below 15 depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.

Can LIC Housing Finance become a multibagger from here?

Ans. LIC Housing Finance has a market cap of Rs 29,318 crore. A multibagger outcome in stocks with PE below 15 requires earnings to keep growing faster than the market for several years. Net profit has compounded at 25.13% a year since FY22, and FY26 revenue rose 2.64%. At a PE of 5.11 against an industry PE of 17.68, valuation should be checked against that growth before investing.

What is the market cap of LIC Housing Finance, IIFL Finance, Great Eastern Shipping and CESC?

Ans. As of 21 October 2026, LIC Housing Finance has a market cap of Rs 29,318 crore, IIFL Finance has a market cap of Rs 25,545 crore, Great Eastern Shipping has a market cap of Rs 21,175 crore and CESC has a market cap of Rs 18,015 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 stocks with PE below 15.

What are the risks of investing in stocks with PE below 15?

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 Housing Finance trading below its industry PE?

Ans. LIC Housing Finance trades at a PE of 5.11 against an industry PE of 17.68. A lower PE means investors pay less for each rupee of earnings, but it should be read with growth (net profit has compounded at 25.13% a year since FY22 and FY26 revenue rose 2.64%) and balance sheet strength before drawing a conclusion.

How much do institutions hold in LIC Housing Finance, IIFL Finance, Great Eastern Shipping and CESC?

Ans. As of the latest reported quarter, FII and DII together hold 40.57% of LIC Housing Finance (18.93% and 21.64%), 33.49% of IIFL Finance (25.64% and 7.85%), 41.14% of Great Eastern Shipping (29.52% and 11.62%) and 37.61% of CESC (11.47% and 26.14%). Rising institutional holding is a useful signal in stocks with PE below 15, though it should be read with earnings trends rather than on its own.