These companies are leading players in their respective industries, including packaging, fertilizers, synthetic leather, agrochemicals, and consumer durables, demonstrating a high Piotroski score of 9 with strong operational efficiency, consistent revenue growth, and robust cost management.
In a market where identifying fundamentally strong small-cap stocks can be challenging, the Piotroski F-Score offers a powerful tool for separating quality from speculation.
This financial metric, developed by Stanford professor Joseph Piotroski, assesses a company’s financial health based on nine key accounting criteria including profitability, leverage, liquidity, and operational efficiency. A perfect score of 9 indicates exceptional fundamentals and sound management execution.
1. AGI Greenpac Ltd
AGI Greenpac Ltd is a leading player in the packaging industry, specialising in manufacturing glass containers, PET bottles, and sustainable packaging solutions. The company has demonstrated strong financial performance driven by consistent revenue growth, margin improvement, and efficient capital management.
With market capitalization of Rs. 5,466 cr, the shares of AGI Greenpac Ltd are closed at Rs. 844.55 per share, from its previous close of Rs. 870.80 per share. The company demonstrates strong financial efficiency with a ROCE of 19.9% and a ROE of 16.2%. It has also achieved an impressive profit growth of 46.5% CAGR over the last five years. AGI Greenpac boasts a perfect Piotroski Score of 9, reflecting strong revenue growth, margin improvement, and efficient operations.
2. Madras Fertilizers Ltd
Madras Fertilizers Ltd is a government-owned company engaged in the production and marketing of fertilizers, primarily urea, for the agricultural sector. It has shown consistent operational efficiency, prudent cost management, and steady capacity utilization, contributing to stable financial performance.
With market capitalization of Rs. 1,310 cr, the shares of Madras Fertilizers Ltd are closed at Rs. 81.05 per share, from its previous close of Rs. 82.44 per share. Over the past five years, the stock has delivered an impressive CAGR of 37%, reflecting strong market performance. Its compounded profit growth has been notable as well, with 20% over the last five years. Madras Fertilizers, with a Piotroski Score of 9, demonstrates steady financial performance through efficient capacity utilization, cost management, and a solid balance sheet.
3. Mayur Uniquoters Ltd
Mayur Uniquoters Ltd is a leading manufacturer of synthetic leather and allied products, catering to industries such as footwear, automotive, furniture, and fashion. The company is known for its operational efficiency, consistent revenue growth, and strong cost management.
With market capitalization of Rs. 2,206 cr, the shares of Mayur Uniquoters Ltd are closed at Rs. 502.50 per share, from its previous close of Rs. 494.95 per share. The company has reduced its debt and demonstrates solid financial metrics, with a ROCE of 20.7% and a ROE of 15.4%. Mayur Uniquoters, scoring a perfect 9 on the Piotroski scale, maintains robust fundamentals via operational efficiency, consistent growth, and expanding export markets.
4. Madhya Bharat Agro Products Ltd
Madhya Bharat Agro Products Ltd (MBAPL) is an India-based company engaged in the manufacturing of fertilizers, chemicals, and sulphuric acid-based products. Part of the Ostwal Group, MBAPL produces key agri-inputs such as Single Super Phosphate (SSP), Sulphuric Acid, and Oleum, catering to farmers and industrial users across India.
With market capitalization of Rs. 3,924 cr, the shares of Madhya Bharat Agro Products Ltd are closed at Rs. 447.75 per share, from its previous close of Rs. 438.20 per share.
The company has reported a ROCE of 18.0% and a ROE of 15.2%, Its compounded profit growth has been notable as well, with 31% over the last five years. Madhya Bharat Agro Products Ltd, scoring a perfect 9 on the Piotroski scale, maintains robust fundamentals via operational efficiency, consistent growth,
5. Eureka Forbes Ltd
Eureka Forbes Ltd is a leading Indian company specializing in water purification, vacuum cleaners, air purifiers, and home security solutions. Known for its iconic AquaSure water purifiers and EuroClean vacuum cleaners, the company has built a strong reputation for quality and reliability in the consumer durable and home appliances segment.
With market capitalization of Rs. 10,320 cr, the shares of Eureka Forbes Ltd are closed at Rs. 540.40 per share, from its previous close of Rs. 543.20 per share. Its compounded profit growth has been notable as well, with 183% over the last five years and Revenue growth at 172 % for the same time period. Eureka Forbes Ltd boasts a perfect Piotroski Score of 9, reflecting strong revenue growth, margin improvement, and efficient operations.
Written by Manideep Appana
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