Last Updated on Apr 24, 2024 by Anjali Chourasiya
Fundamentally strong penny stocks are those with good financial basics, even though their stock prices are low. These stocks are characterised by solid earnings growth potential, positive cash flows, manageable debt levels, and strong management teams. While penny stocks generally carry higher risks, identifying fundamentally strong ones can offer investors the potential for significant returns.
In this article, let’s look at the best penny stocks with strong fundamentals in India.
Table of Contents
Best fundamentally strong penny stocks – Updated April 2024
| Name | Sub-Sector | Market Cap (Rs. in cr.) | Close Price (Rs.) | PE Ratio | Net Income (Rs.) | Return on Equity (%) | Debt to Equity (%) |
| Innocorp Ltd | Plastic Products | 4.85 | 6.11 | 1.26 | 3.86 | 376.59 | 0.00 |
| Pressure Sensitive Systems India Ltd | Electrical Components & Equipments | 138.27 | 9.32 | 3.60 | 38.44 | 128.05 | 0.00 |
| IEL Ltd | Commodities Trading | 29.91 | 8.96 | 12.67 | 2.36 | 97.32 | 0.00 |
| Surat Textile Mills Ltd | – | 207.41 | 9.34 | 3.32 | 62.43 | 37.86 | 0.09 |
| Galactico Corporate Services Ltd | Diversified Financials | 66.16 | 4.44 | 6.96 | 9.50 | 32.33 | 18.84 |
| Taparia Tools Ltd | Industrial Machinery | 4.43 | 2.92 | 0.06 | 72.32 | 28.46 | 0.21 |
| Hindusthan Udyog Ltd | Industrial Machinery | 2.27 | 3.16 | 0.02 | 98.70 | 25.70 | 6.68 |
| Bisil Plast Ltd | Plastic Products | 11.99 | 2.22 | 66.64 | 0.18 | 24.16 | 0.00 |
| Antariksh Industries Ltd | Real Estate | 0.03 | 1.34 | 0.14 | 0.19 | 23.60 | 0.00 |
| Kedia Construction Co Ltd | Business Support Services | 0.73 | 4.89 | 0.99 | 0.74 | 20.47 | 0.00 |
| G G Engineering Ltd | Auto Parts | 203.16 | 2.31 | 23.57 | 8.62 | 18.84 | 2.34 |
| Tatia Global Vennture Ltd | Textiles | 48.22 | 3.18 | 10.96 | 4.40 | 18.53 | 0.00 |
| Alstone Textiles (India) Ltd | Textiles | 127.48 | 1.00 | 5.20 | 24.51 | 17.97 | 0.35 |
| Scandent Imaging Ltd | – | 48.88 | 9.05 | 9.28 | 5.27 | 17.55 | 9.43 |
| Blue Chip India Ltd | Asset Management | 12.44 | 2.30 | 18.03 | 0.69 | 15.94 | 0.00 |
| Teamo Productions HQ Ltd | Construction & Engineering | 90.43 | 1.05 | 30.34 | 2.98 | 15.35 | 3.02 |
Note: The data is from 10th April 2024. The stock selection for fundamentally strong penny stocks was made on Tickertape Stock Screener and based on the following parameters.
- Close Price: Set from 0.02 to 10
- Net Income: Positive – Set the lower value to zero
- Return on Equity: Set to High
- Debt-to-Equity Ratio: Set to Low
Note that these stocks are in no order of preference. Please note that these stock selection criteria and the stocks are provided for informational purposes only; it is essential to conduct your own research.
Details of the top 3 Indian penny stocks with good fundamentals
- Innocorp Ltd
Founded in 1994, Innocorp is engaged in the manufacturing of plastics products, power infrastructure and trading. The financial and performance details of the company are mentioned below.
- The ROE of the stock is 376.59%.
- The stock is 6.40x as volatile as Nifty.
- Over the last 5 yrs, the debt-to-equity ratio has been -672.85%, vs the industry average of 86.96%.
- The stock’s profitability score is 8.1, showing good signs of profitability and efficiency.
To know more about the stock’s financial performance, click here.
- Pressure Sensitive Systems India Ltd
Founded in 1987, Pressure Sensitive Systems India Ltd is engaged in the business of real estate activities and trading of shares, commodities or others. The financial and performance details of the company are mentioned below.
- The ROE of the stock is 128.05%.
- The stock is 6.49x as volatile as Nifty.
- Over the last 5 yrs, the debt-to-equity ratio has been 69.39%, vs the industry average of 22.25%.
- The stock’s profitability score is 8.5, showing good signs of profitability and efficiency.
To learn more about the stock’s performance, click here.
- IEL Ltd
Incorporated in the year 1956, IEL is a smallcap company. They are engaged in providing business support services in the areas of marketing and leasing of warehouses. The financial and performance details of the company are mentioned below.
- The ROE of the stock is 97.32%.
- The stock is 93.91x as volatile as Nifty.
- Over the last 5 yrs, the debt-to-equity ratio has been 0.22%, vs the industry average of 103.86%.
- The stock’s profitability score is 8.1, showing good signs of profitability and efficiency.
To know more about the stock’s financial performance, click here.
To conclude
Stock selection criteria for fundamentally strong penny stocks varies from investor to investor. Remember, it is crucial to conduct your own research before investing. For this purpose, #TickertapeHaiNa! With over 200 filters, custom filters, pre-built screens, custom universes, a linking watchlist, export data, and more features, Tickertape Stock Screener is your perfect companion for finding the next best stock for your portfolio. Don’t wait; seize the opportunity now!
As an insatiable reader and learner, I’ve spent the last two years exploring the world of finance. With my creative mind and curious spirit, I love making complex finance topics easy and fun for everyone to understand. Join me on my journey as we navigate the world of finance together!
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