4 Smallcap Stocks With ROE of 15-20 Per Cent to Watch for Future Multibagger Potential: Jubilant FoodWorks, Great Eastern Shipping, Sumitomo Chemical and Kajaria Ceramics

Stocks with ROE of 15-20 per cent to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Jubilant FoodWorks, Great Eastern Shipping, Sumitomo Chemical and Kajaria Ceramics meet that test, with market caps from Rs 19,246 crore to Rs 27,911 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 a return on equity between 15 and 20 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 a return on equity between 15 and 20 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 stocks with ROE of 15-20 per cent 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 ROE of 15-20 Per Cent and Why Do They Attract Multibagger Interest?

Stocks with ROE of 15-20 per cent are shares of smaller companies that earn solid returns on shareholder money. The four here cover restaurants, shipping, agrochemicals and tiles.

Solid returns that can still improve make this a useful range to study. For stocks with ROE of 15-20 per cent, rising profit adds to the case. A sensible way to study stocks with ROE of 15-20 per cent is to look at profit growth, returns and valuation side by side. Below, each of stocks with ROE of 15-20 per cent gets its own breakdown of growth, returns and valuation. Treat stocks with ROE of 15-20 per cent as a research list, since share prices and rankings change with every earnings season.

Stocks With ROE of 15-20 Per Cent at a Glance: Price, Market Cap, PE, ROE and Price to Book

Prices are closing prices as of 21 October 2026. Great Eastern Shipping has the lowest PE of the group at 5.65, 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	404.90	27,911	62.02	59.28	18.69%	12.18	404.90 to 622.95
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
Sumitomo Chemical India	370.50	20,153	34.78	23.42	16.02%	5.95	362.60 to 572.05
Kajaria Ceramics	1,159.60	19,246	35.14	30.35	15.83%	6.28	869.60 to 1,293.80

Jubilant FoodWorks: Market Cap of Rs 27,911 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 62.02 against an industry PE of 59.28, with a return on equity of 18.69%.

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.

Sumitomo Chemical: Debt-to-Equity of 0.02

Sumitomo Chemical India sells crop protection, household insecticides and crop nutrition products, backed by its Japanese parent. It reported FY26 revenue of Rs 3,385.04 crore, up 3.56% year on year, and net profit of Rs 542.98 crore, up 7.22%. Net profit has compounded at 6.41% a year since FY22, while revenue has grown 2.32% a year. Operating margin was 24.77% in FY26. The debt-to-equity ratio is 0.02, which keeps interest costs low.

In the June 2026 quarter, revenue rose 1.37% to Rs 1,110.63 crore and net profit grew 20.44% to Rs 214.51 crore. Domestic institutions raised their holding from 8.47% in September 2025 to 9.69% in September 2026. The stock trades at a PE of 34.78 against an industry PE of 23.42, with a return on equity of 16.02%.

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.

Stocks With ROE of 15-20 Per Cent: Financial Comparison on Growth and Margins

The table compares scale and growth across these stocks with ROE of 15-20 per cent. 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%
Great Eastern Shipping	6,312.42	2,942.52	2.53%	14.53%	71.01%	80.71%
Sumitomo Chemical	3,385.04	542.98	3.56%	2.32%	1.37%	28.92%
Kajaria Ceramics	4,883.22	490.06	4.39%	6.95%	20.54%	20.98%

Check the Univest Screener for live data on these stocks with ROE of 15-20 per cent

Institutional Holding in Jubilant FoodWorks, Great Eastern Shipping, Sumitomo Chemical and Kajaria Ceramics

Institutional holding shows who is backing these stocks with ROE of 15-20 per cent alongside the promoter. The table uses the latest reported quarter for each. Jubilant FoodWorks has the deepest institutional backing, with FII and DII together holding 53.63% as of September 2026. Domestic institutions increased their holding over the past year in Jubilant FoodWorks (from 33.25% to 40.34%) and Sumitomo Chemical (from 8.47% to 9.69%).

Stock	Promoter	FII	DII	Public	Quarter
Jubilant FoodWorks	40.27%	13.29%	40.34%	6.10%	September 2026
Great Eastern Shipping	30.07%	29.52%	11.62%	28.79%	September 2026
Sumitomo Chemical	75.00%	2.89%	9.69%	12.42%	September 2026
Kajaria Ceramics	47.69%	11.58%	26.25%	14.48%	June 2026

Risks to Weigh in Stocks With ROE of 15-20 Per Cent

Being careful with stocks with ROE of 15-20 per cent 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: Sumitomo Chemical trades at a PE of 34.78 against an industry PE of 23.42, 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 Stocks With ROE of 15-20 Per Cent

Picking from stocks with ROE of 15-20 per cent 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 59.28) 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 ROE of 15-20 per cent, Jubilant FoodWorks stands out for the highest return on equity at 18.69%, Great Eastern Shipping for the fastest profit growth, 47.03% a year since FY22, Sumitomo Chemical for a nearly debt-free balance sheet, with a debt-to-equity ratio of 0.02 and Kajaria Ceramics for a nearly debt-free balance sheet, with a debt-to-equity ratio of 0.07. 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 ROE of 15-20 per cent 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 ROE of 15-20 Per Cent to Watch

Which are the best stocks with ROE of 15-20 per cent to watch for multibagger potential?

Ans. Jubilant FoodWorks, Great Eastern Shipping, Sumitomo Chemical and Kajaria Ceramics are the 4 names this list highlights, with market caps of Rs 27,911 crore, Rs 21,175 crore, Rs 20,153 crore and Rs 19,246 crore respectively. Jubilant FoodWorks is notable for the highest return on equity at 18.69%. Great Eastern Shipping stands out for the fastest profit growth, 47.03% a year since FY22. Sumitomo Chemical offers a nearly debt-free balance sheet, with a debt-to-equity ratio of 0.02. Kajaria Ceramics brings a nearly debt-free balance sheet, with a debt-to-equity ratio of 0.07. These are watchlist names for stocks with ROE of 15-20 per cent, 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 62.02 against an industry PE of 59.28 and a market cap of Rs 27,911 crore. FY26 revenue rose 17.22%, and June 2026 quarter net profit grew 6.03%. Long-term returns in stocks with ROE of 15-20 per cent 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 stocks with ROE of 15-20 per cent 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 Jubilant FoodWorks, Great Eastern Shipping, Sumitomo Chemical and Kajaria Ceramics?

Ans. As of 21 October 2026, Jubilant FoodWorks has a market cap of Rs 27,911 crore, Great Eastern Shipping has a market cap of Rs 21,175 crore, Sumitomo Chemical has a market cap of Rs 20,153 crore and Kajaria Ceramics has a market cap of Rs 19,246 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 ROE of 15-20 per cent.

What are the risks of investing in stocks with ROE of 15-20 per cent?

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. Sumitomo Chemical trades at a PE of 34.78 against an industry PE of 23.42, so earnings growth needs to hold up.

Why is Sumitomo Chemical trading at a PE of 34.78?

Ans. Sumitomo Chemical's PE of 34.78 compares with an industry PE of 23.42. The market is paying a premium for a return on equity of 16.02% and latest-quarter profit growth of 20.44%, which also means the stock is more sensitive if growth slows. Investors in stocks with ROE of 15-20 per cent who are comfortable with higher valuation risk may prefer to stagger purchases instead of investing in one go.

How much do institutions hold in Jubilant FoodWorks, Great Eastern Shipping, Sumitomo Chemical and Kajaria Ceramics?

Ans. As of the latest reported quarter, FII and DII together hold 53.63% of Jubilant FoodWorks (13.29% and 40.34%), 41.14% of Great Eastern Shipping (29.52% and 11.62%), 12.58% of Sumitomo Chemical (2.89% and 9.69%) and 37.83% of Kajaria Ceramics (11.58% and 26.25%). Rising institutional holding is a useful signal in stocks with ROE of 15-20 per cent, though it should be read with earnings trends rather than on its own.