Investors targeting fundamentally strong mid-cap stocks priced below Rs. 300 can benefit from substantial growth potential at an affordable entry point.
Such stocks often exhibit resilience, offering both stability and expansion prospects. This approach allows investors to capitalise on promising businesses, supporting industry growth while potentially securing robust, long-term returns.
1. CESC
Founded in 1899 and headquartered in Kolkata, CESC Limited is one of India’s largest private sector power utilities, primarily involved in generating and distributing electricity. With a customer base of over 3 million across Kolkata and surrounding areas, CESC operates power plants totalling around 1,200 MW.
The company has diversified into retail, infrastructure, and renewable energy, reflecting a broadening of its focus areas. Recent initiatives have emphasised expanding its renewable energy portfolio and improving its distribution network, underscoring a commitment to sustainable and efficient energy solutions.
CESC’s revenue from operations has increased by 7.3 percent from Rs. 14,246 crore in FY23 to Rs. 15,293 crore in FY24. The company’s net profit has increased from Rs. 1,397 crore in FY23 to Rs. 1,447 crore in FY24, which is up by 3.57 percent.
The company exhibited moderate sales growth of 10% (TTM) with flat profit growth of 1% (TTM). Stock price appreciated 104% in the last year, while return on equity was 12% last year, showing moderate profit generation. With a market capitalisation of Rs. 24,277 crores, CESC’s share price closed at Rs. 183.15 per equity share.
2. Chambal Fertilizers
Founded in 1985 and based in Kota, Rajasthan, Chambal Fertilisers and Chemicals Ltd. is a major player in the Indian fertiliser industry, producing around 15% of the nation’s urea.
The company operates three urea plants with a combined capacity of 3.4 million MT per year, and it boasts a strong marketing network of over 2,800 dealers and 50,000 retailers across ten states in India. Chambal has focused on promoting sustainable farming practices and diversifying its product line under the ‘Uttam’ brand, solidifying its reputation as a key contributor to India’s agricultural sector.
Chambal Fertilisers’s revenue from operations has decreased by 35.3 percent from Rs. 27,773 crore in FY23 to Rs. 17,966 crore in FY24. The company’s net profit has increased from Rs. 1,034 crore in FY23 to Rs. 1,276 crore in FY24, which is up by 23.4 percent.
The company showed exceptional stock performance with 59% price appreciation in the last year, alongside 35% profit growth (TTM). However, sales declined 29% (TTM), while maintaining a steady 17% return on equity. With a market capitalisation of Rs. 19,349 crores, Chambal Fertilisers’s share price closed at Rs. 482.50 per equity share.
3. Castrol India
Established in India in 1910 and headquartered in Mumbai, Castrol India Ltd. is a leading manufacturer of automotive and industrial lubricants. With an extensive range of products, including engine oils, greases, and speciality lubricants, Castrol has a robust presence both in India and globally, operating in over 100 countries.
Recently, the company has been prioritising sustainability through eco-friendly product innovations and enhancing its digital engagement to better connect with customers and meet market demands.
Castrol India’s revenue from operations has increased by 6.3 percent from Rs. 4,774 crore in FY23 to Rs. 5,075 crore in FY24. The company’s net profit has increased from Rs. 815 crore in FY23 to Rs. 864 crore in FY24, which is up by 6.1 percent.
The company demonstrated robust performance in the last year, with a remarkable 52% stock price growth (CAGR) and a solid 43% return on equity while maintaining 10% (TTM) profit growth. With a market capitalisation of Rs. 19,780 crores, Castrol India’s share price closed at Rs. 199.98 per equity share.
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4. Jindal Saw
Founded in 1984 and based in Hisar, Haryana, Jindal Saw Ltd. is a major manufacturer of pipes and tubes, providing steel pipes for sectors like oil, gas, and water transmission.
The company has a global footprint with manufacturing facilities in India, the USA, and Europe, allowing it to serve international markets effectively. Jindal Saw has been expanding its product line to offer more value-added products and is strengthening its manufacturing capabilities to meet diverse industry needs.
Jindal Saw’s revenue from operations has increased by 17.29 percent from Rs. 20,958 crore in FY23 to Rs. 17,868 crore in FY24. The company’s net profit has increased from Rs. 452 crore in FY23 to Rs. 1,593 crore in FY24, which is up by 252 percent.
The company exhibited strong profit growth of 81% (TTM) with moderate sales growth of 7% (TTM). Stock price appreciated 24% in the last year, while return on equity improved to 18%, showing efficient profit generation. With a market capitalisation of Rs. 19,377 crores, Jindal Saw’s share price closed at Rs. 303 per equity share.
5. Gujarat State Petronet (GSPL)
Established in 1998 and headquartered in Gandhinagar, Gujarat State Petronet Limited (GSPL) is instrumental in natural gas transmission across Gujarat through an extensive 2,000 km pipeline network. GSPL supplies natural gas to various sectors, including power generation and industrial applications, supporting the region’s growing energy needs.
The company is investing in expanding its pipeline infrastructure to enhance the reliability of gas supply and cater to the rising energy demand, positioning itself as a key player in India’s energy sector.
Gujarat State Petronet’s revenue from operations has decreased by 4.53 percent from Rs. 18,117 crore in FY23 to Rs. 17,295 crore in FY24. The company’s net profit has decreased from Rs. 2,342 crore in FY23 to Rs. 2,184 crore in FY24, which is up by 6.7 percent.
Despite a 2% decline in TTM profit growth, the company achieved 37% stock price appreciation in the last year, with modest 6% sales growth (TTM). Return on equity remained healthy at 16%, showing sustained profitability. With a market capitalisation of Rs. 20,943 crores, Gujarat State Petroneta’s share price closed at Rs. 371.2 per equity share.
Written By Fazal Ul Vahab C H
Disclaimer
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