Magic formula stocks — Greenblatt ranking for Indian companies
The top 50 non-financial Indian companies by Joel Greenblatt's magic formula: ranked jointly on earnings yield (cheapness) and return on capital (quality).
Prices as of 21 Sep 2026
1044 companies qualify
4,746 companies screened
The rule, exactly as applied
Earnings Yield > 0%ROCE > 0%Profitable (TTM)Market Cap ≥ ₹1,000 Cr
Excludes results distorted by one-offs or thin equity (negative book value, P/E below 3, trailing profit above half of sales, ROE above 150%) and listed InvITs/REITs, whose payouts are not comparable with a company's dividends.
Every ratio is the same number the company's own fundamentals page shows. Click any company to see the quarterly results, balance sheet and peers behind it.
| # | Company | Sector | Market Cap | Price | Earnings Yield | ROCE | P/E | Debt/Equity |
|---|---|---|---|---|---|---|---|---|
| 1 | Websol Energy System LimitedWEBELSOLAR · Jun 2026 | Electric Equipment | ₹3,127 Cr | ₹72.03 | 11.6% | 63.0% | 10.00 | 0.21 |
| 2 | K.P. Energy LimitedKPEL · Jun 2026 | Infrastructure | ₹1,575 Cr | ₹232.32 | 14.9% | 39.0% | 8.65 | 0.84 |
| 3 | National Aluminium Company LimitedNATIONALUM · Jun 2026 | Metal | ₹64,741 Cr | ₹352.50 | 13.0% | 40.0% | 9.59 | 0.00 |
| 4 | Chennai Petroleum Corporation LimitedCHENNPETRO · Jun 2026 | Oil & Gas | ₹20,483 Cr | ₹1,376 | 24.9% | 35.0% | 4.91 | 0.18 |
| 5 | String Metaverse Ltd534535 · Jun 2026 | IT | ₹1,027 Cr | ₹8.01 | 11.2% | 42.0% | 8.42 | 0.02 |
| 6 | Garuda Construction and Engineering LimitedGARUDA · Jun 2026 | Infrastructure | ₹1,645 Cr | ₹176.77 | 11.1% | 42.0% | 12.09 | 0.03 |
| 7 | Alpex Solar LimitedALPEXSOLAR · Jun 2026 | Electric Equipment | ₹2,341 Cr | ₹916.65 | 10.5% | 44.0% | 11.71 | 0.96 |
| 8 | One Global Service Provider Ltd514330 · Jun 2026 | Healthcare | ₹1,050 Cr | ₹521.45 | 9.3% | 87.0% | 14.14 | 0.00 |
| 9 | The Bombay Burmah Trading Corporation LimitedBBTC · Mar 2026 | Auto | ₹10,358 Cr | ₹1,485 | 25.8% | 33.0% | 4.14 | 0.23 |
| 10 | Tata Consultancy Services LimitedTCS · Jun 2026 | IT | ₹770,182 Cr | ₹2,129 | 8.8% | 63.0% | 15.39 | 0.11 |
| 11 | Hindustan Zinc LimitedHINDZINC · Jun 2026 | Metal | ₹250,054 Cr | ₹591.80 | 8.7% | 70.0% | 14.65 | 0.39 |
| 12 | Bondada Engineering Ltd543971 · Jun 2026 | Telecom - Infrastructure | ₹2,978 Cr | ₹268.60 | 10.0% | 39.0% | 13.36 | 0.42 |
| 13 | BF Utilities LimitedBFUTILITIE · Dec 2025 | Energy | ₹2,005 Cr | ₹532.35 | 15.5% | 30.0% | 7.04 | 4.61 |
| 14 | Shanti Gold International LimitedSHANTIGOLD · Jun 2026 | Consumer Durables | ₹1,985 Cr | ₹258.69 | 11.5% | 33.0% | 10.65 | 0.36 |
| 15 | Coal India LimitedCOALINDIA · Jun 2026 | Metal | ₹255,568 Cr | ₹414.70 | 10.4% | 35.0% | 7.75 | 0.12 |
| 16 | Gokul Agro Resources LimitedGOKULAGRO · Jun 2026 | FMCG | ₹6,526 Cr | ₹221.16 | 9.4% | 37.0% | 16.10 | 0.41 |
| 17 | Ddev Plastiks Industries LimitedDDEVPLSTIK · Jun 2026 | Chemicals | ₹2,689 Cr | ₹259.90 | 10.4% | 31.0% | 12.58 | 0.06 |
| 18 | SKM Egg Products Export (India) LimitedSKMEGGPROD · Jun 2026 | FMCG | ₹1,208 Cr | ₹229.05 | 10.9% | 30.0% | 10.82 | 0.36 |
| 19 | Transrail Lighting LimitedTRANSRAILL · Mar 2026 | Infrastructure | ₹5,561 Cr | ₹414.20 | 12.0% | 29.0% | 13.80 | 0.30 |
| 20 | Sharda Cropchem LimitedSHARDACROP · Jun 2026 | Chemicals | ₹6,728 Cr | ₹745.75 | 10.4% | 30.0% | 10.74 | 0.00 |
| 21 | Accelya Solutions India LimitedACCELYA · Jun 2026 | IT | ₹1,672 Cr | ₹1,120 | 7.3% | 54.0% | 17.56 | 0.33 |
| 22 | Infosys LimitedINFY · Mar 2026 | IT | ₹420,605 Cr | ₹1,038 | 7.6% | 40.0% | 14.28 | 0.10 |
| 23 | NMDC LimitedNMDC · Jun 2026 | Metal | ₹70,159 Cr | ₹79.80 | 11.5% | 28.0% | 9.41 | 0.19 |
| 24 | MODISON LIMITEDMODISONLTD · Jun 2026 | Electric Equipment | ₹1,481 Cr | ₹456.30 | 9.0% | 31.0% | 14.58 | 0.63 |
| 25 | Gandhi Special Tubes LimitedGANDHITUBE · Jun 2026 | Metal | ₹1,026 Cr | ₹909.30 | 8.4% | 32.0% | 13.74 | 0.00 |
| 26 | Chambal Fertilizers & Chemicals LimitedCHAMBLFERT · Jun 2026 | Chemicals | ₹16,715 Cr | ₹417.20 | 13.6% | 26.0% | 8.67 | 0.10 |
| 27 | Jyoti Resins & Adhesives Ltd514448 · Jun 2026 | Chemicals | ₹1,010 Cr | ₹842.80 | 7.5% | 37.0% | 15.84 | 0.00 |
| 28 | Sonata Software LimitedSONATSOFTW · Mar 2026 | IT | ₹7,717 Cr | ₹278.80 | 8.4% | 31.0% | 16.67 | 0.38 |
| 29 | VST Industries LimitedVSTIND · Jun 2026 | FMCG | ₹3,505 Cr | ₹206.76 | 9.2% | 28.0% | 12.58 | 0.00 |
| 30 | Castrol India LimitedCASTROLIND · Mar 2026 | Chemicals | ₹19,140 Cr | ₹193.50 | 6.6% | 60.0% | 19.96 | 0.03 |
| 31 | ITC LimitedITC · Jun 2026 | FMCG | ₹334,545 Cr | ₹267.00 | 7.1% | 39.0% | 16.57 | 0.03 |
| 32 | Expleo Solutions LimitedEXPLEOSOL · Jun 2026 | IT | ₹1,371 Cr | ₹883.15 | 11.2% | 25.0% | 9.91 | 0.01 |
| 33 | Dynacons Systems & Solutions LimitedDSSL · Jun 2026 | IT | ₹1,316 Cr | ₹1,033 | 8.6% | 30.0% | 15.49 | 0.75 |
| 34 | Khazanchi Jewellers Ltd543953 · Jun 2026 | Consumer Durables | ₹1,842 Cr | ₹736.80 | 7.3% | 35.0% | 17.91 | 0.34 |
| 35 | Bharat Petroleum Corporation LimitedBPCL · Jun 2026 | Oil & Gas | ₹133,625 Cr | ₹312.75 | 10.1% | 26.0% | 7.80 | 0.54 |
| 36 | Ceinsys Tech Ltd538734 · Jun 2026 | IT | ₹1,412 Cr | ₹674.30 | 9.7% | 27.0% | 10.62 | 0.08 |
| 37 | Waaree Energies LimitedWAAREEENER · Jun 2026 | Electric Equipment | ₹71,884 Cr | ₹2,499 | 6.9% | 39.0% | 17.96 | 0.22 |
| 38 | Tanla Platforms LimitedTANLA · Jun 2026 | IT | ₹6,515 Cr | ₹493.40 | 9.6% | 26.0% | 12.23 | 0.02 |
| 39 | Alldigi Tech LimitedALLDIGI · Jun 2026 | IT | ₹1,201 Cr | ₹787.90 | 7.8% | 30.0% | 13.94 | 0.68 |
| 40 | Indraprastha Medical Corporation LimitedINDRAMEDCO · Jun 2026 | Healthcare | ₹3,355 Cr | ₹365.95 | 6.8% | 36.0% | 17.82 | 0.05 |
| 41 | Gujarat Pipavav Port LimitedGPPL · Jun 2026 | Miscellaneous | ₹7,979 Cr | ₹164.99 | 8.1% | 28.0% | 14.29 | 0.02 |
| 42 | Swaraj Engines LimitedSWARAJENG · Jun 2026 | Auto | ₹4,340 Cr | ₹3,572 | 6.0% | 59.0% | 21.43 | 0.00 |
| 43 | D-Link (India) LimitedDLINKINDIA · Mar 2026 | Trading | ₹1,511 Cr | ₹425.70 | 8.1% | 28.0% | 14.52 | 0.03 |
| 44 | BLS International Services LimitedBLS · Jun 2026 | IT | ₹9,570 Cr | ₹232.54 | 7.6% | 29.0% | 12.85 | 0.17 |
| 45 | Saksoft LimitedSAKSOFT · Jun 2026 | IT | ₹1,884 Cr | ₹146.62 | 9.0% | 26.0% | 14.46 | 0.06 |
| 46 | Nitta Gelatin India Ltd506532 · Jun 2026 | Chemicals | ₹1,590 Cr | ₹1,751 | 8.0% | 28.0% | 15.41 | 0.01 |
| 47 | Sharda Motor Industries LimitedSHARDAMOTR · Jun 2026 | Auto | ₹5,498 Cr | ₹957.75 | 6.5% | 36.0% | 16.57 | 0.04 |
| 48 | Petronet LNG LimitedPETRONET · Jun 2026 | Miscellaneous | ₹43,125 Cr | ₹287.50 | 10.7% | 23.0% | 10.32 | 0.10 |
| 49 | BIRLASOFT LIMITEDBSOFT · Jun 2026 | IT | ₹7,946 Cr | ₹284.15 | 12.4% | 22.0% | 13.87 | 0.03 |
| 50 | Lupin LimitedLUPIN · Mar 2026 | Pharma | ₹97,146 Cr | ₹2,124 | 7.2% | 30.0% | 18.14 | 0.29 |
Showing the top 50 of 1044 qualifying companies.
About this screen
Joel Greenblatt's 'The Little Book That Beats the Market' ranks every company twice, once by earnings yield (EBIT ÷ enterprise value, how cheap it is) and once by return on capital (how good it is), then adds the two ranks together. The best combined scores are good businesses at bargain prices. Financials are excluded because EBIT and enterprise value do not describe a bank. Greenblatt's own rules also call for holding a basket of 20-30 names for a year; any single row can disappoint.
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