Low P/E stocks with ROE above 12%
Listed companies trading below 15 times earnings while earning more than 12% on equity (market cap above ₹500 crore).
Data as of the close
| # | Company | P/E | ROE % | Price | D/E | Market cap |
|---|---|---|---|---|---|---|
| 1 | State Bank of India | 11.7 | 15.4 | ₹1,080 | 10.55 | ₹10.0L Cr |
| 2 | Life Insurance Corporation of India | 8.1 | 37.8 | ₹399.3 | 0.00 | ₹5.1L Cr |
| 3 | Infosys Ltd | 14.7 | 31.9 | ₹1,141.5 | 0.09 | ₹4.6L Cr |
| 4 | Axis Bank Ltd | 13.9 | 13.1 | ₹1,331 | 7.73 | ₹4.2L Cr |
| 5 | NTPC Ltd | 10.4 | 15.1 | ₹319.1 | 1.31 | ₹3.1L Cr |
| 6 | Coal India Ltd | 7.5 | 28.2 | ₹403.5 | 0.12 | ₹2.5L Cr |
| 7 | Power Grid Corporation of India Ltd | 14.8 | 15.3 | ₹257.45 | 1.42 | ₹2.4L Cr |
| 8 | Hindustan Zinc Ltd | 11.4 | 76.5 | ₹554.85 | 0.22 | ₹2.3L Cr |
| 9 | Hindalco Industries Ltd | 9.1 | 13.0 | ₹943.6 | 0.71 | ₹2.1L Cr |
| 10 | Indian Oil Corporation Ltd | 4.3 | 20.5 | ₹144.04 | 0.60 | ₹2.0L Cr |
| 11 | Wipro Ltd | 14.7 | 15.5 | ₹194.6 | 0.28 | ₹1.9L Cr |
| 12 | Punjab National Bank | 7.2 | 13.0 | ₹142.81 | 11.99 | ₹1.6L Cr |
| 13 | Union Bank of India | 7.0 | 15.7 | ₹203 | 9.88 | ₹1.6L Cr |
| 14 | Vedanta Aluminium Metal Ltd | 9.9 | 88.8 | ₹379.8 | 1.42 | ₹1.5L Cr |
| 15 | Bank of Baroda | 6.0 | 12.7 | ₹273.84 | 11.21 | ₹1.4L Cr |
| 16 | Bharat Petroleum Corporation Ltd | 9.4 | 28.8 | ₹302 | 0.62 | ₹1.3L Cr |
| 17 | Indian Bank | 9.5 | 15.4 | ₹932.85 | 10.95 | ₹1.3L Cr |
| 18 | Canara Bank | 5.8 | 16.1 | ₹130.91 | 14.57 | ₹1.2L Cr |
| 19 | Muthoot Finance Ltd | 9.4 | 30.9 | ₹2,840 | 4.10 | ₹1.1L Cr |
| 20 | Power Finance Corporation Ltd | 4.2 | 20.7 | ₹334.25 | 6.94 | ₹1.1L Cr |
| 21 | Indian Railway Finance Corporation Ltd | 14.8 | 12.8 | ₹83.3 | 7.12 | ₹1.1L Cr |
| 22 | Indus Towers Ltd | 14.8 | 18.6 | ₹396 | 0.56 | ₹1.0L Cr |
| 23 | Vedanta Ltd | 7.7 | 38.1 | ₹259.68 | 2.44 | ₹1.0L Cr |
| 24 | IDBI Bank Ltd | 10.4 | 14.1 | ₹80 | 5.35 | ₹86.1K Cr |
| 25 | REC Ltd | 5.2 | 20.1 | ₹301.85 | 5.63 | ₹79.4K Cr |
| 26 | Oil India Ltd | 8.6 | 12.2 | ₹441.5 | 0.65 | ₹72.1K Cr |
| 27 | Bank of Maharashtra | 8.8 | 22.6 | ₹91.7 | 11.36 | ₹70.5K Cr |
| 28 | Bank of India | 5.6 | 12.4 | ₹154.1 | 12.36 | ₹70.1K Cr |
| 29 | NMDC Ltd | 8.2 | 23.4 | ₹69.8 | 0.19 | ₹61.5K Cr |
| 30 | National Aluminium Co. Ltd | 8.5 | 29.4 | ₹330 | 0.00 | ₹61.0K Cr |
| 31 | Indian Overseas Bank | 9.5 | 14.9 | ₹31.63 | 11.22 | ₹60.9K Cr |
| 32 | General Insurance Corporation of India | 6.6 | 14.6 | ₹338.25 | 0.00 | ₹59.3K Cr |
| 33 | Petronet LNG Ltd | 10.5 | 18.4 | ₹324.05 | 0.09 | ₹48.6K Cr |
| 34 | Mahindra & Mahindra Financial Services Ltd | 10.8 | 12.3 | ₹286.85 | 5.44 | ₹39.9K Cr |
| 35 | Karur Vysya Bank Ltd | 12.5 | 19.1 | ₹381.55 | 8.47 | ₹36.9K Cr |
| 36 | Housing & Urban Development Corporation Ltd | 7.5 | 20.1 | ₹167.6 | 7.19 | ₹33.6K Cr |
| 37 | NLC India Ltd | 8.4 | 13.9 | ₹237.91 | 1.21 | ₹33.0K Cr |
| 38 | LIC Housing Finance Ltd | 5.5 | 14.4 | ₹585.1 | 6.50 | ₹32.2K Cr |
| 39 | Mangalore Refinery & Petrochemicals Ltd | 7.5 | 14.5 | ₹178.68 | 0.60 | ₹31.3K Cr |
| 40 | PNB Housing Finance Ltd | 12.5 | 12.7 | ₹1,117.3 | 3.93 | ₹29.3K Cr |
| 41 | Cholamandalam Financial Holdings Ltd | 9.9 | 17.5 | ₹1,460 | 13.50 | ₹27.4K Cr |
| 42 | IIFL Finance Ltd | 11.0 | 12.6 | ₹641.1 | 5.47 | ₹27.4K Cr |
| 43 | Redington Ltd | 13.6 | 16.9 | ₹349.7 | 0.59 | ₹27.3K Cr |
| 44 | Apollo Tyres Ltd | 12.9 | 13.1 | ₹420.8 | 0.31 | ₹26.7K Cr |
| 45 | TVS Holdings | 12.0 | 30.6 | ₹12,745 | 6.80 | ₹26.1K Cr |
| 46 | Great Eastern Shipping Co. Ltd | 5.8 | 15.9 | ₹1,518 | 0.06 | ₹21.7K Cr |
| 47 | Chennai Petroleum Corporation Ltd | 3.7 | 31.9 | ₹1,428.2 | 0.16 | ₹21.3K Cr |
| 48 | Indraprastha Gas Ltd | 14.6 | 13.3 | ₹142.33 | 0.01 | ₹19.9K Cr |
| 49 | Emmvee Photovoltaic Power Ltd | 13.5 | 50.7 | ₹277.09 | 0.25 | ₹19.2K Cr |
| 50 | CESC Ltd | 11.0 | 12.0 | ₹128.48 | 1.80 | ₹17.0K Cr |
How this list is made: P/E between 0 and 15 and return on equity above 12%; market cap above ₹500 crore. Lowest P/E first.
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Frequently asked questions
Which stocks have a low P/E?
The table lists companies below 15 times earnings that also earn more than 12% on equity, cheapest first.
Why add an ROE filter?
A low P/E alone often flags weak businesses. Requiring ROE above 12% keeps companies that are still profitable on their capital.
Does a low P/E mean a stock is undervalued?
Not always — earnings may be about to fall. Read the latest results and concall guidance before deciding.
Disclaimer: Lists are built from exchange closing prices and reported financials, for information only. They are not investment advice or a recommendation to buy or sell any security.