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Top 10 Fundamentally Strong Small Cap Stocks in India — Top 100 List

Of the 2,084 small cap companies in India on PositoAI, 303 pass all four tests (profit-making, return on equity of 15% or more, Owes vs Owns of 0.5 or less, no red or yellow flag). First on the list is Bharat Rasayan Limited (Positivity Score 26,722). None of the top 10 has an active red or yellow flag.

Positivity ScoreHigh dividendDebt freeLow debtLow PEBelow book valueHigh ROEHigh ROE + low PENo red flagsNo red or yellow flagsFundamentally strongNear 52-week lowNear 52-week highHigh score near 52-week lowHigh score near 52-week high
#Company Score Market Cap
(INR Cr)		 P/E P/B Owes vs
Owns		 ROE Div
Yield		 FlagSector
1 Bharat Rasayan LimitedBHARATRAS 26,722 ₹1,622 6.3 1.27 0.11× 20.2% 0.05% — Basic Materials
2 Oswal Pumps LimitedOSWALPUMPS 26,615 ₹2,630 7.7 1.56 0.22× 19.3% 0 — Industrials
3 String Metaverse LimitedMETA 26,433 ₹830 10.2 2.51 0.03× 29.0% 0 — Technology
4 Veranda Learning Solutions LimitedVERANDA 26,153 ₹328 2.2 0.34 0.48× 15.2% 0 — Consumer Defensive
5 GK Energy LimitedGKENERGY 25,831 ₹1,945 8.3 2.19 0.32× 26.3% 0.44% — Utilities
6 Ecos (India) Mobility & Hospitality LimitedECOSMOBLTY 25,543 ₹614 10.5 2.32 0.36× 22.1% 2.27% — Industrials
7 The Bombay Burmah Trading Corporation LimitedBBTC 25,511 ₹8,063 6.2 1.15 0.34× 18.3% 1.39% — Consumer Defensive
8 Sharda Cropchem LimitedSHARDACROP 25,491 ₹5,950 9.5 1.90 0.46× 20.0% 2.07% — Basic Materials
9 Innovision LimitedINNOVISION 25,369 ₹512 12.8 1.74 0.38× 31.0% 0 — Industrials
10 Ashoka Buildcon LimitedASHOKA 25,361 ₹2,837 1.2 0.43 0.50× 37.4% 0 — Industrials

Top 20

11 Zuari Agro Chemicals LimitedZUARI 25,293 ₹817 0.9 0.39 0.36× 45.0% 0 — Basic Materials
12 Maestros Electronics & Telecommunications Systems LimitedMETSL 25,268 ₹84 11.4 2.00 0.35× 17.6% 0 — Healthcare
13 Xchanging Solutions LimitedXCHANGING 25,239 ₹635 10.4 1.60 0.24× 15.3% 3.33% — Technology
14 Shankar Lal Rampal Dye-Chem LimitedSRD 25,215 ₹241 13.1 1.97 0.22× 15.1% 0.14% — Basic Materials
15 G.M. Breweries LimitedGMBREW 24,968 ₹1,887 10.9 1.75 0.12× 16.3% 1.07% — Consumer Defensive
16 Crizac LimitedCRIZAC 24,904 ₹2,497 11.3 4.27 0.32× 37.7% 10.57% — Consumer Defensive
17 Siyaram Silk Mills LimitedSIYSIL 24,796 ₹2,224 9.4 1.52 0.33× 16.2% 2.22% — Consumer Cyclical
18 Dev Information Technology LimitedDEVIT 24,767 ₹106 1.4 0.98 0.42× 69.2% 0.52% — Technology
19 Borana Weaves LimitedBORANA 24,736 ₹578 8.4 2.06 0.23× 24.6% 0 — Consumer Cyclical
20 Maxgrow India LimitedMAXGROW 24,716 ₹796 1.5 0.38 0.30× 42.8% 0 — Industrials

Top 50

21 Dhanuka Agritech LimitedDHANUKA 24,704 ₹3,825 14.4 2.27 0.20× 15.9% 0.23% — Basic Materials
22 Jaro Institute of Technology Management and Research LimitedJARO 24,522 ₹878 15.0 2.44 0.16× 15.9% 1.48% — Consumer Defensive
23 The Sandur Manganese & Iron Ores LimitedSANDUMA 24,473 ₹7,878 11.0 2.42 0.41× 22.0% 0.28% — Basic Materials
24 MMTC LimitedMMTC 24,415 ₹7,809 17.5 3.68 0.24× 21.1% 0 — Industrials
25 Expleo Solutions LimitedEXPLEOSOL 24,394 ₹1,307 9.5 1.68 0.16× 17.7% 12.76% — Technology
26 Saksoft LimitedSAKSOFT 24,364 ₹1,774 13.9 2.28 0.28× 16.4% 0.79% — Technology
27 Jonjua Overseas LimitedJONJUA 24,351 ₹9 1.2 0.19 0.39× 15.6% 0 — Industrials
28 Ceinsys Tech LimitedCEINSYS 24,342 ₹1,356 9.7 2.02 0.28× 18.1% 0.53% — Industrials
29 International Conveyors LimitedINTLCONV 24,322 ₹490 3.6 1.16 0.25× 32.0% 0.65% — Industrials
30 Goyal Aluminiums LimitedGOYALALUM 24,304 ₹80 17.0 3.16 0.45× 18.8% 0 — Basic Materials
31 Repro India LimitedREPRO 24,279 ₹416 4.3 1.19 0.44× 27.9% 0 — Industrials
32 Krishna GVK Luxury Hotels LimitedTAJGVK 24,265 ₹1,941 4.7 1.90 0.20× 40.0% 0.61% — Consumer Cyclical
33 California Software Company LimitedCALSOFT 24,259 ₹68 12.2 1.65 0.17× 35.5% 0 — Technology
34 Royal India Corporation LimitedROYALIND 24,258 ₹63 1.3 0.47 0.30× 37.3% 0 — Consumer Cyclical
35 Garuda Construction and Engineering LimitedGARUDA 24,253 ₹1,355 10.0 2.98 0.29× 29.9% 0 — Industrials
36 Mahalaxmi Rubtech LimitedMHLXMIRU 24,240 ₹170 7.4 1.88 0.21× 25.5% 0 — Consumer Cyclical
37 Avio Smart Market Stack LimitedASMS 24,223 ₹168 26.4 4.94 0.50× 18.3% 0 — Technology
38 The Shipping Corporation of India LimitedSCI 24,188 ₹11,731 7.2 1.29 0.32× 17.8% 2.71% — Industrials
39 NIIT Learning Systems LimitedNIITMTS 24,186 ₹2,599 10.4 1.69 0.50× 16.2% 1.62% — Consumer Defensive
40 Avanti Feeds LimitedAVANTIFEED 24,169 ₹9,256 17.0 2.82 0.13× 16.6% 1.43% — Consumer Defensive
41 Interarch Building Solutions LimitedINTERARCH 24,168 ₹2,537 18.9 2.88 0.32× 15.2% 0.74% — Industrials
42 Godfrey Phillips India LimitedGODFRYPHLP 24,165 ₹26,938 19.7 4.34 0.25× 22.0% 2.76% — Consumer Defensive
43 JSW Dulux LimitedJSWDULUX 24,100 ₹1,376 0.7 0.56 0.35× 80.0% 1.66% — Basic Materials
44 Radhika Jeweltech LimitedRADHIKAJWE 24,094 ₹724 9.1 1.82 0.17× 20.0% 0 — Consumer Cyclical
45 Gulshan Polyols LimitedGULPOLY 24,090 ₹979 6.6 1.36 0.45× 20.6% 0.94% — Basic Materials
46 Vardhman Acrylics LimitedVARDHACRLC 24,052 ₹334 4.1 1.32 0.26× 32.1% 3.52% — Consumer Cyclical
47 Nitta Gelatin India LimitedNITTAGELA 24,037 ₹1,360 13.1 2.66 0.12× 20.3% 0.42% — Basic Materials
48 Automotive Axles LimitedAUTOAXLES 24,016 ₹2,376 13.6 2.16 0.28× 15.9% 2.00% — Consumer Cyclical
49 InfoBeans Technologies LimitedINFOBEAN 23,966 ₹1,515 17.9 3.66 0.15× 20.5% 0.32% — Technology
50 Refex Industries LimitedREFEX 23,946 ₹3,231 11.4 2.15 0.47× 18.8% 0.79% — Energy

Top 100

51 Deep Polymers LimitedDEEP 23,943 ₹94 5.2 0.90 0.29× 17.2% 0 — Basic Materials
52 Newgen Software Technologies LimitedNEWGEN 23,919 ₹6,725 21.6 3.78 0.27× 17.5% 1.34% — Technology
53 Viram Suvarn LimitedVSL 23,915 ₹111 11.3 1.76 0.03× 15.8% 0 — Consumer Cyclical
54 Chambal Fertilisers and Chemicals LimitedCHAMBLFERT 23,881 ₹14,990 7.8 1.44 0.28× 18.5% 3.21% — Basic Materials
55 SKM Egg Products Export (India) LimitedSKMEGGPROD 23,878 ₹1,061 9.5 2.69 0.34× 28.1% 0.60% — Consumer Defensive
56 Seshaasai Technologies LimitedSTYL 23,848 ₹5,030 18.8 3.53 0.14× 18.8% 0.72% — Technology
57 Shah Alloys LimitedSHAHALLOYS 23,829 ₹144 3.5 1.29 0.46× 37.1% 0 — Basic Materials
58 Orosil Smiths India LimitedOROSMITHS 23,822 ₹26 1.1 1.03 0.15× 104.0% 0 — Consumer Cyclical
59 Sarda Energy & Minerals LimitedSARDAEN 23,814 ₹16,077 14.2 2.18 0.34× 15.3% 0.42% — Basic Materials
60 Black Rose Industries LimitedBLACKROSE 23,794 ₹493 17.2 2.91 0.19× 16.9% 1.21% — Basic Materials
61 TPL Plastech LimitedTPLPLASTEH 23,791 ₹504 16.8 2.99 0.34× 17.8% 1.93% — Consumer Cyclical
62 Transport Corporation of India LimitedTCI 23,785 ₹6,715 14.7 2.62 0.25× 17.8% 1.17% — Industrials
63 Ddev Plastiks Industries LimitedDDEVPLSTIK 23,767 ₹2,565 12.0 2.53 0.30× 21.1% 0.72% — Basic Materials
64 DCM Shriram LimitedDCMSHRIRAM 23,761 ₹15,344 10.8 1.99 0.45× 19.0% 1.67% — Industrials
65 Vaibhav Global LimitedVAIBHAVGBL 23,708 ₹3,273 11.5 1.99 0.35× 17.3% 3.01% — Consumer Cyclical
66 Indraprastha Medical Corporation LimitedINDRAMEDCO 23,699 ₹2,801 14.9 3.78 0.25× 25.4% 1.22% — Healthcare
67 Jyothy Labs LimitedJYOTHYLAB 23,681 ₹6,513 22.9 4.10 0.29× 17.9% 1.85% — Consumer Defensive
68 Lancor Holdings LimitedLANCORHOL 23,679 ₹213 3.7 0.89 0.44× 24.1% 0.69% — Real Estate
69 Zensar Technologies LimitedZENSARTECH 23,674 ₹11,375 14.9 2.41 0.22× 16.3% 3.13% — Technology
70 Technocraft Industries (India) LimitedTIIL 23,668 ₹5,663 16.7 2.80 0.36× 16.8% 0.82% — Industrials
71 Panama Petrochem LimitedPANAMAPET 23,650 ₹2,789 5.8 1.90 0.23× 32.6% 0.61% — Energy
72 Indian Metals and Ferro Alloys LimitedIMFA 23,639 ₹5,908 11.3 2.17 0.37× 19.3% 1.06% — Basic Materials
73 BLS International Services LimitedBLS 23,623 ₹9,023 12.8 3.66 0.26× 28.6% 1.16% — Industrials
74 R Systems International LimitedRSYSTEMS 23,498 ₹3,002 16.3 2.73 0.39× 17.3% 5.83% — Technology
75 Shekhawati Industries LimitedSHEKHAWATI 23,462 ₹75 6.1 3.45 0.31× 56.1% 0 — Consumer Cyclical
76 Borosil Renewables LimitedBORORENEW 23,439 ₹5,834 14.5 3.86 0.17× 25.4% 0 — Technology
77 Aeroflex Enterprises LimitedAEROENTER 23,418 ₹1,372 9.1 1.66 0.17× 18.2% 0.32% — Basic Materials
78 Emmvee Photovoltaic Power LimitedEMMVEE 23,406 ₹17,242 13.3 4.67 0.36× 35.0% 0.33% — Technology
79 Chembond Chemicals LimitedCHEMBONDCH 23,380 ₹604 15.8 2.92 0.18× 19.9% 0.57% — Basic Materials
80 NDR Auto Components LimitedNDRAUTO 23,350 ₹1,583 24.4 4.43 0.36× 18.1% 0.59% — Consumer Cyclical
81 Dynamic Cables LimitedDYCL 23,331 ₹1,799 19.7 3.93 0.33× 19.9% 0.12% — Industrials
82 Savita Oil Technologies LimitedSOTL 23,286 ₹4,860 11.7 2.68 0.33× 22.8% 0.65% — Basic Materials
83 DRC Systems India LimitedDRCSYSTEMS 23,281 ₹163 7.7 1.45 0.27× 18.9% 0 — Technology
84 South West Pinnacle Exploration LimitedSOUTHWEST 23,267 ₹618 14.5 3.04 0.39× 19.2% 0 — Energy
85 One Global Service Provider LimitedONEGLOBAL 23,212 ₹724 9.5 5.13 0.44× 52.4% 0.17% — Healthcare
86 M.K. Exim (India) LimitedMKEXIM 23,205 ₹211 11.4 1.78 0.05× 15.4% 1.04% — Consumer Defensive
87 Chennai Petroleum Corporation LimitedCHENNPETRO 23,202 ₹21,647 5.2 1.95 0.45× 37.6% 4.17% — Energy
88 Sharda Motor Industries LimitedSHARDAMOTR 23,187 ₹4,792 14.4 3.65 0.41× 25.3% 2.29% — Consumer Cyclical
89 Tinna Rubber and Infrastructure LimitedTINNARUBR 23,183 ₹1,342 21.4 4.47 0.43× 20.6% 0.37% — Basic Materials
90 Euro Pratik Sales LimitedEUROPRATIK 23,179 ₹1,979 23.0 6.39 0.19× 27.9% 0.23% — Basic Materials
91 Talbros Automotive Components LimitedTALBROAUTO 23,176 ₹2,148 19.2 2.89 0.32× 15.1% 0.19% — Consumer Cyclical
92 Gandhi Special Tubes LimitedGANDHITUBE 23,167 ₹977 14.1 3.09 0.07× 23.6% 1.58% — Industrials
93 Sanghvi Movers LimitedSANGHVIMOV 23,165 ₹2,844 14.3 2.17 0.44× 15.2% 0.51% — Industrials
94 Pfizer LimitedPFIZER 23,123 ₹16,875 23.0 4.02 0.15× 17.5% 2.00% — Healthcare
95 AGI Greenpac LimitedAGI 23,113 ₹4,658 12.9 1.94 0.32× 15.1% 0.91% — Consumer Cyclical
96 Sun Pharma Advanced Research Company LimitedSPARC 23,113 ₹5,617 3.5 4.20 0.38× 118.3% 0 — Healthcare
97 C. E. Info Systems LimitedMAPMYINDIA 23,077 ₹4,740 34.6 5.24 0.13× 15.1% 0.40% — Technology
98 Kanpur Plastipack LimitedKANPRPLA 23,072 ₹575 12.5 2.14 0.43× 17.1% 0.50% — Consumer Cyclical
99 Thomas Scott (India) LimitedTHOMASCOTT 23,053 ₹424 19.7 3.09 0.42× 15.1% 0 — Consumer Cyclical
100 Balu Forge Industries LimitedBALUFORGE 23,025 ₹5,372 18.4 3.37 0.14× 15.6% 0.03% — Industrials

Fundamentally strong in other groups · India

All of IndiaLarge CapMid CapSmall CapMicro CapMini CapMeso CapTito Cap

Fundamentally strong in other countries

United States

Questions

Which small cap companies in India have strong fundamentals and the highest Positivity Score?

The first five on PositoAI's list are Bharat Rasayan Limited (26,722), Oswal Pumps Limited (26,615), String Metaverse Limited (26,433), Veranda Learning Solutions Limited (26,153), GK Energy Limited (25,831).

How many small cap companies in India pass all four tests?

303 of the 2,084 small cap companies in India on PositoAI pass all four tests (profit-making, return on equity of 15% or more, Owes vs Owns of 0.5 or less, no red or yellow flag); this page shows the top 100.

How is this list made?

Companies that pass four tests: they make a profit, their return on equity is 15% or more, their Owes vs Owns is 0.5 or less, and they have no active red or yellow flag. Banks and lenders are left out. The list is ordered by Positivity Score, highest first. The list is updated every day from PositoAI's data.

What counts as a small cap stock in India?

In India, large cap means the 100 largest companies by market value, mid cap the next 150 (101st to 250th) and small cap the rest — the same rank-based rule SEBI uses, applied to the companies on PositoAI.

Companies that pass four tests: they make a profit, their return on equity is 15% or more, their Owes vs Owns is 0.5 or less, and they have no active red or yellow flag. Banks and lenders are left out. The list is ordered by Positivity Score, highest first. Score is the Positivity Score; Owes vs Owns is everything a company owes compared with everything it owns (what each figure means); ⚑ marks an active red or yellow flag. All top lists for India. PositoAI is for research and education only and is not investment advice.

Disclaimer — PositoAI is a research and screening tool for educational and informational purposes. It is not investment advice or a recommendation to buy or sell any security or mutual fund. Scores and rankings are calculated by PositoAI's own method using publicly available data, which may be incomplete, delayed or inaccurate, and past performance does not indicate future results. AI summaries of company news may contain errors. PositoAI is not registered with the SEC, SEBI or any other regulatory authority. Please do your own research or consult a licensed financial advisor before investing.