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Top 10 High ROE Small Cap Stocks in India — Top 100 List

Of the 2,084 small cap companies in India on PositoAI, 1,656 have a positive return on equity. First on the list is Narmada Macplast Drip Irrigation Systems Ltd. (144.1%). The median among them is 11.40%. 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 Narmada Macplast Drip Irrigation Systems Ltd.NARMP 18,685 ₹80 6.0 8.60 0.51× 144.1% 0 — Industrials
2 Ksolves India LimitedKSOLVES 14,876 ₹577 15.6 19.66 0.53× 126.2% 5.78% — Technology
3 Sun Pharma Advanced Research Company LimitedSPARC 23,113 ₹5,617 3.5 4.20 0.38× 118.3% 0 — Healthcare
4 Gravity (India) LimitedGRAVITY 22,120 ₹14 0.7 0.96 0.63× 115.7% 0 — Consumer Cyclical
5 Timex Group India LimitedTIMEX -5,243 ₹6,392 75.4 57.44 0.67× 112.5% 0 — Consumer Cyclical
6 Procter & Gamble Hygiene and Health Care LimitedPGHH 11,706 ₹22,073 27.9 29.30 0.58× 105.0% 3.31% — Consumer Defensive
7 Orosil Smiths India LimitedOROSMITHS 23,822 ₹26 1.1 1.03 0.15× 104.0% 0 — Consumer Cyclical
8 Brigade Enterprises LimitedBRIGADE 21,969 ₹18,170 26.2 2.66 0.71× 101.8% 0.36% — Real Estate
9 B&B Triplewall Containers LimitedBBTCL 21,665 ₹408 3.5 3.10 0.70× 89.6% 0.44% — Consumer Cyclical
10 Digjam LimitedDIGJAMLMTD 73 ₹103 26.9 23.49 0.94× 88.3% 0 — Consumer Cyclical

Top 20

11 Kiri Industries LimitedKIRIINDUS 24,313 ₹3,056 0.5 0.47 0.08× 88.2% 0 ⚑ Basic Materials
12 Sanofi Consumer Healthcare India LimitedSANOFICONR 14,859 ₹7,514 28.3 21.60 0.51× 88.0% 2.16% — Healthcare
13 Automotive Stampings and Assemblies LimitedASAL 13,060 ₹649 21.8 17.96 0.89× 82.5% 0 — Consumer Cyclical
14 Ardee Industries LimitedARDEE 19,840 ₹1,367 15.9 9.28 0.59× 80.7% 0 — Industrials
15 JSW Dulux LimitedJSWDULUX 24,100 ₹1,376 0.7 0.56 0.35× 80.0% 1.66% — Basic Materials
16 Tips Music LimitedTIPSMUSIC 6,223 ₹9,196 40.7 35.38 0.28× 78.1% 1.21% — Communication Services
17 Kernex Microsystems (India) LimitedKERNEX 17,771 ₹2,748 14.4 11.08 0.73× 76.8% 0 — Technology
18 Nirlon LimitedNIRLON 15,435 ₹5,654 15.8 12.07 0.79× 76.2% 4.79% — Real Estate
19 Panth Infinity LimitedPANTH 21,104 ₹63 0.9 0.64 0.50× 71.0% 0 — Consumer Cyclical
20 Gillette India LimitedGILLETTE 12,847 ₹23,458 35.1 24.79 0.49× 70.6% 2.54% — Consumer Defensive

Top 50

21 Dev Information Technology LimitedDEVIT 24,767 ₹106 1.4 0.98 0.42× 69.2% 0.52% — Technology
22 Procter & Gamble Health LimitedPGHL 16,392 ₹8,403 23.5 16.02 0.38× 68.1% 2.98% — Healthcare
23 GE Power India LimitedGVPIL 22,379 ₹4,093 12.0 7.03 0.73× 58.8% 1.07% — Industrials
24 Castrol India LimitedCASTROLIND 18,028 ₹19,523 18.4 10.23 0.51× 57.0% 6.42% — Energy
25 Signatureglobal (India) LimitedSIGNATURE 21,358 ₹10,034 9.6 5.43 0.89× 56.4% 0 — Real Estate
26 Shekhawati Industries LimitedSHEKHAWATI 23,462 ₹75 6.1 3.45 0.31× 56.1% 0 — Consumer Cyclical
27 Waaree Renewable Technologies LimitedWAAREERTL 22,139 ₹7,504 14.8 8.03 0.61× 54.2% 0 — Industrials
28 Standard Industries LimitedSIL 22,243 ₹115 1.9 1.01 0.40× 53.8% 3.22% — Consumer Cyclical
29 One Global Service Provider LimitedONEGLOBAL 23,212 ₹724 9.5 5.13 0.44× 52.4% 0.17% — Healthcare
30 ESAB India LimitedESABINDIA 15,562 ₹8,296 37.4 19.32 0.39× 51.7% 1.85% — Industrials
31 Viviana Power Tech LimitedVIVIANA 21,848 ₹706 12.7 6.08 0.81× 51.3% 0.12% — Industrials
32 Websol Energy System LimitedWEBELSOLAR 21,450 ₹2,655 8.6 4.21 0.32× 51.2% 0.38% ⚑ Technology
33 SBC Exports LimitedSBC 1,981 ₹2,958 73.1 36.89 0.82× 51.2% 0 — Consumer Cyclical
34 Jeena Sikho Lifecare LimitedJSLL 21,511 ₹4,343 18.4 9.30 0.31× 50.5% 1.17% — Healthcare
35 Tenneco Clean Air India LimitedTENNIND 17,902 ₹18,174 30.2 15.18 0.53× 50.1% 0 — Consumer Cyclical
36 Swaraj Engines LimitedSWARAJENG 19,959 ₹4,134 19.4 8.46 0.37× 49.3% 2.94% — Industrials
37 Atlanta Electricals LimitedATLANTAELE 18,497 ₹12,984 29.3 13.97 0.38× 47.6% 0 — Industrials
38 R M Drip and Sprinklers Systems LimitedRMDRIP 21,702 ₹760 8.4 6.85 0.46× 47.5% 0.14% — Industrials
39 Elitecon International LimitedELITECON 25,385 ₹1,080 5.8 3.10 0.72× 46.8% 0 — Consumer Defensive
40 Lohia Corp LimitedLCL 18,336 ₹5,992 24.7 11.49 0.60× 46.6% 0 — Industrials
41 Zuari Agro Chemicals LimitedZUARI 25,293 ₹817 0.9 0.39 0.36× 45.0% 0 — Basic Materials
42 Nityas Gems and Jewellery LimitedNITYAS 20,396 ₹430 18.9 5.16 — 43.8% 0 — Consumer Cyclical
43 Ingersoll-Rand (India) LimitedINGERRAND 15,294 ₹12,057 45.1 19.58 0.38× 43.5% 1.82% — Industrials
44 Maxgrow India LimitedMAXGROW 24,716 ₹796 1.5 0.38 0.30× 42.8% 0 — Industrials
45 Sical Logistics LimitedSICALLOG 21,435 ₹638 9.0 4.86 0.70× 41.7% 0 — Industrials
46 Mukand LimitedMUKANDLTD 23,120 ₹2,216 3.5 1.46 0.63× 41.5% 1.14% — Basic Materials
47 Vadilal Enterprises LimitedVADILENT 9,948 ₹819 60.0 24.77 0.91× 41.2% 0.02% — Consumer Defensive
48 Shankesh Jewellers LimitedSHANKESH 20,048 ₹1,487 13.9 7.10 0.48× 40.8% 0 — Consumer Cyclical
49 Sanofi India LimitedSANOFI 21,541 ₹6,520 20.1 7.89 0.41× 40.3% 4.18% — Healthcare
50 Krishna GVK Luxury Hotels LimitedTAJGVK 24,265 ₹1,941 4.7 1.90 0.20× 40.0% 0.61% — Consumer Cyclical

Top 100

51 Hester Biosciences LimitedHESTERBIO 20,694 ₹1,826 12.8 5.07 0.46× 39.7% 0.51% — Healthcare
52 Suratwwala Business Group LimitedSBGLP 23,874 ₹363 8.8 3.48 0.58× 39.7% 0.54% — Real Estate
53 International Gemological Institute LimitedIGIL 18,978 ₹15,263 25.9 10.83 0.20× 39.6% 1.65% — Basic Materials
54 Shraddha Prime Projects LimitedSHRADDHA 20,141 ₹649 12.4 4.92 0.80× 39.4% 0 — Real Estate
55 Fischer Medical Ventures LimitedFISCHER 24,986 ₹1,667 10.2 4.34 0.43× 39.3% 0.16% ⚑ Healthcare
56 BF Utilities LimitedBFUTILITIE 18,227 ₹1,617 11.8 5.37 0.54× 38.9% 0 — Industrials
57 D. P. Abhushan LimitedDPABHUSHAN 20,432 ₹4,833 20.2 7.64 0.45× 37.8% 0 — Consumer Cyclical
58 Crizac LimitedCRIZAC 24,904 ₹2,497 11.3 4.27 0.32× 37.7% 10.57% — Consumer Defensive
59 Chennai Petroleum Corporation LimitedCHENNPETRO 23,202 ₹21,647 5.2 1.95 0.45× 37.6% 4.17% — Energy
60 SAMHI Hotels LimitedSAMHI 20,954 ₹3,346 5.8 1.53 0.49× 37.5% 0 — Consumer Cyclical
61 Gokul Agro Resources LimitedGOKULAGRO 22,581 ₹5,941 11.2 4.18 0.71× 37.5% 0 — Consumer Defensive
62 Ashoka Buildcon LimitedASHOKA 25,361 ₹2,837 1.2 0.43 0.50× 37.4% 0 — Industrials
63 Baroda Extrusion LimitedBAROEXT 21,362 ₹171 16.6 6.87 0.55× 37.4% 0 — Basic Materials
64 Indian Energy Exchange LimitedIEX 19,340 ₹9,248 18.2 6.78 0.44× 37.4% 3.82% — Financial Services
65 Computer Age Management Services LimitedCAMS 15,644 ₹16,660 33.7 12.61 0.27× 37.3% 1.90% — Technology
66 Royal India Corporation LimitedROYALIND 24,258 ₹63 1.3 0.47 0.30× 37.3% 0 — Consumer Cyclical
67 Shukra Pharmaceuticals LimitedSHUKRAPHAR 8,357 ₹2,767 80.2 30.80 0.23× 37.2% 0.01% — Healthcare
68 Shah Alloys LimitedSHAHALLOYS 23,829 ₹144 3.5 1.29 0.46× 37.1% 0 — Basic Materials
69 Manorama Industries LimitedMANORAMA 15,468 ₹11,022 42.3 16.16 0.43× 36.1% 0.04% — Consumer Defensive
70 Accelya Solutions India LimitedACCELYA 22,565 ₹1,512 15.9 6.05 0.33× 36.1% 6.59% — Technology
71 Netweb Technologies India LimitedNETWEB 5,364 ₹27,303 100.1 37.75 0.68× 36.0% 0.06% — Technology
72 LT Foods LimitedLTFOODS 22,262 ₹13,369 20.9 2.96 0.50× 35.9% 0.98% — Consumer Defensive
73 California Software Company LimitedCALSOFT 24,259 ₹68 12.2 1.65 0.17× 35.5% 0 — Technology
74 Swastika Infra LimitedSWASTIKAIN 21,816 ₹710 17.2 3.29 — 35.4% 0 — Industrials
75 Emmvee Photovoltaic Power LimitedEMMVEE 23,406 ₹17,242 13.3 4.67 0.36× 35.0% 0.33% — Technology
76 HBL Engineering LimitedHBLENGINE 19,900 ₹21,744 27.9 9.82 0.25× 35.0% 0.42% — Industrials
77 Galaxy Agrico Exports LimitedGALAGEX 20,054 ₹155 8.1 2.81 0.01× 34.9% 0 — Industrials
78 K.P. Energy LimitedKPEL 23,833 ₹1,166 6.3 2.23 0.81× 34.8% 0.38% — Industrials
79 Sigma Advanced Systems LimitedSIGMAADV 7,650 ₹15,619 89.0 33.35 0.56× 34.8% 0 — Industrials
80 GMR Power And Urban Infra LimitedGMRP&UI 16,225 ₹7,546 11.6 3.96 0.88× 34.3% 0 ⚑ Energy
81 Alldigi Tech LimitedALLDIGI 22,152 ₹1,154 13.5 4.60 0.52× 34.0% 7.58% — Industrials
82 EFC (I) LimitedEFCIL 22,057 ₹2,596 8.8 3.22 0.70× 33.9% 0 — Real Estate
83 Alpine Texworld LimitedALPINETEX 23,607 ₹142 6.6 1.96 0.75× 33.9% 0 — Consumer Cyclical
84 Aayush Wellness LimitedAAYUSH 18,953 ₹119 27.8 9.72 0.30× 33.8% 0 — Consumer Defensive
85 Algoquant Fintech LimitedALGOQUANT 15,594 ₹2,093 46.0 15.57 0.51× 33.7% 0 ⚑ Financial Services
86 Wanbury LimitedWANBURY 21,319 ₹649 11.4 4.50 0.72× 33.7% 0 — Healthcare
87 Vishal Nirmiti LimitedVNL 22,444 ₹339 13.6 2.94 — 33.7% 0 — Basic Materials
88 Milky Mist Dairy Food LimitedMILKYMIST -1,222 ₹21,005 113.7 45.37 0.83× 33.3% 0 — Consumer Defensive
89 Frontier Springs LimitedFRONTSP 20,605 ₹1,479 24.3 8.06 0.16× 33.2% 0.05% — Industrials
90 Sigma Solve LimitedSIGMA 22,718 ₹438 17.3 5.69 0.14× 32.9% 1.13% — Technology
91 Travel Food Services LimitedTRAVELFOOD 20,024 ₹15,254 32.1 10.57 0.36× 32.9% 0.85% — Consumer Cyclical
92 3M India Limited3MINDIA 15,449 ₹33,536 58.1 18.97 0.44× 32.7% 0.52% — Industrials
93 Panama Petrochem LimitedPANAMAPET 23,650 ₹2,789 5.8 1.90 0.23× 32.6% 0.61% — Energy
94 Sunshine Pictures LimitedSUNSHINE 18,819 ₹1,219 2175.8 8.41 0.19× 32.3% 0 — Communication Services
95 Vardhman Acrylics LimitedVARDHACRLC 24,052 ₹334 4.1 1.32 0.26× 32.1% 3.52% — Consumer Cyclical
96 International Conveyors LimitedINTLCONV 24,322 ₹490 3.6 1.16 0.25× 32.0% 0.65% — Industrials
97 SRM Contractors LimitedSRM 24,630 ₹838 7.1 2.26 0.58× 31.8% 0 — Industrials
98 MPS LimitedMPSLTD 21,435 ₹3,926 20.9 6.59 0.37× 31.6% 0 — Communication Services
99 Solex Energy LimitedSOLEX 24,734 ₹599 7.5 2.37 0.78× 31.6% 0.09% — Technology
100 Shanti Gold International LimitedSHANTIGOLD 21,557 ₹2,844 13.9 4.75 0.30× 31.4% 0 — Consumer Cyclical

High ROE in other groups · India

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High ROE in other countries

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Questions

Which small cap companies in India have the highest return on equity?

The first five on PositoAI's list are Narmada Macplast Drip Irrigation Systems Ltd. (144.1%), Ksolves India Limited (126.2%), Sun Pharma Advanced Research Company Limited (118.3%), Gravity (India) Limited (115.7%), Timex Group India Limited (112.5%).

How many small cap companies in India have a positive return on equity?

1,656 of the 2,084 small cap companies in India on PositoAI have a positive return on equity; this page shows the top 100.

How is this list made?

Companies ordered by return on equity (profit on shareholders' money), highest first. Extreme figures above 250% are left out. 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 ordered by return on equity (profit on shareholders' money), highest first. Extreme figures above 250% are left out. 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.