Top 5 growing stock in India According to Analysts – March 2024

Top 5 growing stock in India: India boasts some of the fastest rising stocks based on metrics such as revenue growth, profit growth and market capitalisation. While past performance does not guarantee future results, do your own research before making investment decisions.

Top Growing Stocks

5. Adani Green Energy Ltd (AGEL)

Adani Green Energy Ltd (AGEL), India’s foremost renewable energy corporation specializing in solar and wind power production. We will explore their revenue and financial situations here:

Revenue and growth:
FY23 (ending March 31 2023), total revenue reached Rs12,934 crore or US$1.58 billion and net profit reached Rs3,409 crore with 8,086MW operational capacity being reached (the greatest in India).
H1 of FY24 (April-September 2023) total sales rose 66% year-on-year (YOY). Net profit rose 149% YOY; operating capacity: 8,835MW

Strong revenue and profit growth was experienced throughout the first half of FY24, including remarkable year-on-year increases.

4. Bajaj Finance Ltd (BFL):

Bajaj Finance Ltd (BFL), one of India’s foremost nonbanking financial corporations (NBFCs), has an array of products centered on housing finance: home loan, car finance and personal loan solutions.

Consumer Durable Financing. Lending against property. Two and Three Wheel Vehicle Financing (LTVF). Personal loans; Small Medium Enterprise Funding:

Revenue/ Financial Status

FY23 (ending March 31, 2023) total revenue reached Rs68,439 crore, total profit after tax (PAT) stood at Rs7,028 crore while AUM totalled 247 379 crore. For Q2 FY24 (September 2023) consolidated revenue was 33817.5 crore with PAT standing at 1,9588.4 crore.
Recurring Asset Under Managements : Rs299,120 crore.

FY23 and Q2 FY24 saw impressive revenue and profit increases.

3. Deepak Nitrite Limited (DNL):

Deepak Nitrite Limited (DNL), established in India since 1961, is one of the country’s major chemical firms with operations across several segments: textile, paints & coatings and fertilizers.

Chemicals found within this field include nitric acid, sulfuric acid, toluene di-isocyanate (TDI), and nitrobenzene; performance materials include phenolic resins, polyester resins and epoxy resins while fine and specialty chemicals may include sodium nitrite or nitrochlorobenzene for fine tuning purposes.
Agrochemical products include calcium nitrate and di-ammonium phosphate (DAP).

Revenue and financial status is as follows.

FY23 (ending March 31 2023) saw total revenue reach Rs8,020 crores (US$9.79 billion). EBITDA stood at Rs1337 crore and PAT stood at Rs852. In Q2 FY24 (September) revenue totalled Rs 1,7778 crore while EBITDA and PAT both came in at 307 crore each for total of 161 crores net revenue generated for FY24 as a whole.
Revenue growth remained consistent during FY23; however Q2 FY24 demonstrated some moderate decrease when compared with Q2 of FY23.

2. Polycab India:

Their firm provides an expansive variety of electrical products, such as wires and cables used in power, control, data, measurement applications as well as wire fans such as ceiling, table fans and exhaust fans for application in residential homes as well as complete lighting systems featuring LED, CFL or decorative options – as well as PVC pipes & conduits used to fulfill installation needs within buildings as well as providing construction solutions, solar goods & consumer durables that fulfill changing market needs.

Financially sound with steady expansion:

FY23 revenue increased 27% year over year to Rs12,203 crore (US$1.50 billion), representing 27% YoY growth in revenues and EBITDA respectively; 21st percentile EBITDA growth occurred while PAT experienced 34% YoY increase at Rs2,422 crore; while Q3 FY24 revenue saw 17% YoY increase and PAT recorded 15% YoY increase respectively.

1. Jindal Stainless Ltd:

Revenues in 2023 totaled Rs35,700 crore (US$4.430 billion). From April-June of fiscal 2024 (April-June 2023), revenues increased 25% YoY to Rs10,027 crore; second quarter sales reached 9127 crore demonstrating 12 YoY growth and quarter 3 sales rose another 12% year over year to reach Rs9 797 crore indicating its continued market expansion and adaptability when faced with changing economic environments. These consistent quarterly results highlight Jindal Stainless Ltd’s continued market expansion as well as resilience when adaptability when faced with shifting economic conditions by being adapting and adaptable enough to adapt quickly when adaptable enough in dealing with shifting economic conditions to successfully adapt and survive as long term business models cannot.

Financial status as of December 31st:

Q1 FY24 Standalone EBITDA stood at Rs1,118 crore; Quarter 2 of FY24 saw Rs1.246 billion and Q3 saw 1,231.13 Million being generated as standalone EBITDAs by themselves in these periods; astea PAT for Q1 FY24 alone totalled 666 Crore, whilst Quarter 2 witnessed Rs691 Crore with PAT being Rs764 Crore in all. Net debt as at December 31st stood at 3,0885 Crore
As of December 31st 2023, the net debt-to-equity ratio stood at approximately 0.23.

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