Best Multibagger Stocks in September 2024 – 5yr CAGR Basis

Multibagger stocks can multiply your initial investment several times over a certain period. However, finding these high-potential stocks requires a solid understanding of company fundamentals, industry trends, and the quality of management. In this article, let’s look at some of the best multibagger stocks for September 2024 based on the 5-year CAGR.

What are Multibagger Stocks?

Multibagger stocks are shares of a company that have increased in value significantly, providing multifold returns to investors. For example, if a stock’s price doubles, it’s called a two-bagger. Stocks that rise multiple times their original value are known as multi-bagger stocks.

Best Multibagger Stocks in September 2024 – 5yr CAGR Basis

Note: The best multibagger stocks list provided here are selected from the Nifty 500 universe as of September 23, 2024, and are filtered based on:

1. 5-year CAGR (sorted high to low)
2. Net income > 0

Overview of Best Multibagger Stocks in September 2024

• Lloyds Metals And Energy Ltd

Lloyds Metals And Energy Ltd, originally named Nagarjuna Metals & Engineers when it was established in April 1977, became a public company in 1986 and adopted its current name in January 1990. The company operates in the Iron and Steel Industry, producing CRCA strips, water and gas pipes, and sponge iron. It handles mostly flat iron and steel products from its plants in Nagpur and Mumbai.

For the quarter ended June 2024, the company’s revenue increased to ₹2,417.24 crore from ₹1,554.29 crore in the preceding quarter. Meanwhile, the net profit increased to ₹557.48 crore from ₹277.06 crore in the previous quarter. 

Key metrics: 

• Earning per share (EPS): ₹26.73
• Return on equity (ROE): 49.71%

• CG Power & Industrial Solutions

CG Power & Industrial Solutions is a global company that offers complete solutions for managing and using efficient and sustainable electrical energy for utilities, industries, and consumers. It provides products, services, and solutions in two main areas: Power Systems and Industrial Systems.

For the quarter ended June 2024, the company’s revenue increased to ₹2,106.41 crore from ₹2,083.54 crore in the preceding quarter. Meanwhile, the net profit decreased to ₹232.13 crore from ₹240.59 crore in the previous quarter. 

Key metrics: 

• EPS: ₹6.84
• ROE: 32.18%

• Jai Balaji Industries Ltd

Jai Balaji Industries Ltd is one of the largest private steel producers in Eastern India. The company has 5 manufacturing plants in West Bengal and Chhattisgarh, producing items like sponge iron, pig iron, TMT bars, and mild steel. Established in 1999, it became a public company in October 2003. Since then, Jai Balaji has steadily increased its production capacity by investing in its infrastructure.

For the quarter ended June 2024, the company’s revenue decreased to ₹1,718.31 crore from ₹1,845.60 crore in the preceding quarter. Meanwhile, the net profit decreased to ₹208.82 crore from ₹272.98 crore in the previous quarter. 

Key metrics: 

• EPS: ₹50.31
• ROE: 61.03%

• Elecon Engineering Company Ltd

Elecon Engineering Company Ltd was established in 1960. The company produces and sells power transmission and material handling equipment both in India and abroad. It also operates in the steel and non-ferrous foundry sectors.

For the quarter ended June 2024, the company’s revenue decreased to ₹293.42 crore from ₹485.33 crore in the preceding quarter. Meanwhile, the net profit decreased to ₹55.10 crore from ₹86.95 crore in the previous quarter. 

Key metrics: 

• EPS: ₹26.50
• ROE: 22.07%

• Adani Green Energy Limited

Adani Green Energy Limited, founded in 2015, is a holding company for various subsidiaries focused on renewable power generation. It mainly engages in generating renewable energy and related activities.

For the quarter ended June 2024, the company’s revenue decreased to ₹3,383.00 crore from ₹7,304.00 crore in the preceding quarter. Meanwhile, the net profit decreased to -₹89.00 crore from -₹195.00 crore in the previous quarter. 

Key metrics: 

• EPS: -₹2.71
• ROE: -5.73%

Conclusion

Investing in multibagger stocks in India is a strategy to earn multifold returns over years or decades. However, it’s important to do thorough research and consider different factors before you invest. Do research the company fundamentals, industry trends, and management quality to help you find potential multibaggers. Make sure to diversify your investments to manage risk. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.