10 Stocks With PEG & Debt Below 1 and Strong Profit Growth of Up to 490% to Keep on Your Radar
Investors often look for companies that combine strong growth with healthy balance sheets and reasonable valuations. Stocks with a PEG ratio below 1 and debt-to-equity below 1 can offer a screening point for businesses showing attractive earnings-growth potential without high financial leverage.
This article highlights 10 stocks, ranging from GE Vernova to Force Motors, that have recorded more than 100% profit growth over the past three years while meeting the specified PEG and debt-to-equity criteria.
GE Vernova T&D India Ltd
GE Vernova T&D India Ltd is engaged in the power transmission and distribution business, providing equipment and solutions across the electricity value chain. Its portfolio includes power transformers, circuit breakers, gas-insulated switchgear, substation automation, digital solutions, HVDC, FACTS, and turnkey substation services, serving utilities and other power-sector customers.
The company has strong financial metrics, with a ROCE of 77.4% and ROE of 57.4%, indicating efficient use of capital and equity. Its debt-to-equity ratio of just 0.01 reflects very low leverage, while a PEG ratio of 0.16 and 490% compounded profit growth over three years highlight strong earnings growth.
Bondada Engineering Ltd
Bondada Engineering Ltd provides engineering, procurement and construction (EPC) and operations and maintenance (O&M) services across telecom, renewable energy and railway infrastructure. Its activities include telecom tower and fibre infrastructure, renewable-energy projects and related infrastructure services, while the group is also expanding into BESS, data centres, defence and aerospace.
The company has strong financial metrics, with a ROCE of 39.4% and ROE of 35.7%, indicating efficient use of capital and equity. Its debt-to-equity ratio of just 0.01 reflects very low leverage, while a PEG ratio of 0.42 and 125% compounded profit growth over three years highlight strong earnings growth.
Welspun Corp Ltd
Welspun Corp Ltd is a global manufacturer of line pipes and provides end-to-end pipe solutions for sectors including oil and gas and water infrastructure. Its portfolio also includes ductile iron pipes, stainless-steel pipes, tubes and bars, while the company is expanding into TMT rebars and other steel products.
The company has strong financial metrics, with a ROCE of 22.9% and ROE of 19.4%, indicating efficient use of capital and equity. Its debt-to-equity ratio of just 0.26 reflects very low leverage, while a PEG ratio of 0.26 and 119% compounded profit growth over three years highlight strong earnings growth.
Vikram Solar Ltd
Vikram Solar Ltd is an Indian solar PV module manufacturer and integrated solar-energy solutions provider. The company manufactures photovoltaic modules and also provides engineering, procurement and construction (EPC) and operations and maintenance (O&M) services for solar projects across India and international markets.
The company has strong financial metrics, with a ROCE of 30.6% and ROE of 21.4%, indicating efficient use of capital and equity. Its debt-to-equity ratio of just 0.19 reflects very low leverage, while a PEG ratio of 0.07 and 214% compounded profit growth over three years highlight strong earnings growth.
HBL Engineering Ltd
HBL Engineering Ltd is a research-based engineering company with businesses spanning specialised batteries, railway electronics, defence, eMobility and battery energy-storage systems. It serves sectors including railways, aviation, defence, telecom, power, oil and gas and data centres, with a focus on technology-intensive products and solutions.
The company has strong financial metrics, with a ROCE of 59.3% and ROE of 45.3%, indicating efficient use of capital and equity. Its debt-to-equity ratio of just 0.03 reflects very low leverage, while a PEG ratio of 0.26 and 105% compounded profit growth over three years highlight strong earnings growth.
Emmvee Photovoltaic Power Ltd
Emmvee Photovoltaic Power Ltd is a solar-energy company engaged in manufacturing photovoltaic modules and solar cells, along with solar-related products and solutions. Its businesses also include solar water heating systems and solar pumps, while it provides EPC services for solar projects in India and overseas markets.
The company has strong financial metrics, with a ROCE of 44.6% and ROE of 50.7%, indicating efficient use of capital and equity. Its debt-to-equity ratio of just 0.10 reflects very low leverage, while a PEG ratio of 0.04 and 393% compounded profit growth over three years highlight strong earnings growth.
Hitachi Energy India Ltd
Hitachi Energy India Ltd provides technologies and solutions for electricity transmission, distribution and industrial applications. Its portfolio includes transformers, grid automation, grid-integration solutions, high-voltage equipment and power-quality technologies, supporting grid expansion, modernisation and renewable-energy integration.
The company has strong financial metrics, with a ROCE of 29.4% and ROE of 21.9%, indicating efficient use of capital and equity. Its debt-to-equity ratio of just 0.02 reflects very low leverage, while a PEG ratio of 0.93 and 122% compounded profit growth over three years highlight strong earnings growth.
GK Energy Ltd
GK Energy Ltd is primarily engaged in EPC services for solar-powered agricultural water-pumping systems, particularly under the PM-KUSUM scheme. The company also provides solar rooftop solutions, solar PV modules and related products, and has expanded into battery energy-storage systems, broadening its renewable-energy offerings.
The company has strong financial metrics, with a ROCE of 40.9% and ROE of 36.8%, indicating efficient use of capital and equity. Its debt-to-equity ratio of just 0.23 reflects very low leverage, while a PEG ratio of 0.06 and 171% compounded profit growth over three years highlight strong earnings growth.
Augmont Enterprises Ltd
Augmont Enterprises Ltd operates an integrated gold and silver ecosystem spanning refining, bullion trading, digital gold and silver, jewellery, gold loans, old-gold recycling and related services. The company serves retail customers, jewellers, bullion dealers and other participants across the precious-metals value chain.
The company has strong financial metrics, with a ROCE of 68.5% and ROE of 50.9%, indicating efficient use of capital and equity. Its debt-to-equity ratio of just 0.02 reflects very low leverage, while a PEG ratio of 0.27 and 103% compounded profit growth over three years highlight strong earnings growth.
Force Motors Ltd
Force Motors Ltd is an integrated automobile manufacturer producing light commercial vehicles, passenger vans, utility vehicles, buses, specialised vehicles and other automotive products. The company also manufactures high-technology automotive aggregates, including engines and axles, and has longstanding manufacturing relationships with Mercedes-Benz and BMW.
The company has strong financial metrics, with a ROCE of 36.0% and ROE of 26.1%, indicating efficient use of capital and equity. Its debt-to-equity ratio of just 0.00 reflects very low leverage, while a PEG ratio of 0.10 and 209% compounded profit growth over three years highlight strong earnings growth.
