Best Mid Cap Stocks in September 2024 Based on 5Y CAGR

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As per SEBI, mid-cap companies are ranked 101 to 250 based on their market capitalisation and the stocks of these companies are known as mid-cap stocks. Mid-cap stocks have great growth potential and are generally less impacted by market fluctuations compared to small-cap stocks. However, they still carry higher risk than large-cap stocks.  In this article,  let’s look at the best mid-cap stocks in India in September 2024 based on 5-year CAGR.

Best Mid Cap Stocks In India In September 2024 – Based on 5-Year CAGR

Note: The top mid-cap stocks list in India have been selected from the Nifty 500 universe and sorted based on 5-year CAGR as of September 16, 2024.

Overview Of Best Mid-Cap Stocks In India

• Lloyds Metals & Energy 

Lloyds Metals & Energy specialises in the production of sponge iron, power generation, and mining operations. As a pioneer in integrated sponge iron manufacturing, the company boasts a production capacity of 350,000 MTPA at its Ghugus and Konsari units. Originally starting with a 3 MTPA capacity in FY22, Lloyds Metals & Energy has expanded its iron ore mining operations significantly, from 10 MTPA to a newly approved 55 MTPA. This positions the company as one of India’s largest iron ore merchant miners.

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%

• Dixon Technologies (India) Limited

Dixon Technologies (India) Limited, founded in 1993, is an Electronic Manufacturing Services (EMS) company. It operates in various electronic sectors, including consumer electronics, lighting, home appliances, CCTV cameras, and mobile phones. The company also handles reverse logistics and produces security surveillance equipment, wearables, audibles, and AC-PCBs. Recently, Dixon Technologies has formed a joint venture with Imagine Marketing Private Limited to design and manufacture wireless audio solutions in India.

For the quarter ended June 2024, the company’s revenue decreased to ₹1,298.61 crore from ₹1,388.40 crore in the preceding quarter. Meanwhile, the net profit decreased to ₹28.03 crore from ₹43.44 crore in the previous quarter. 

Key metrics: 

• EPS: ₹27.70
• ROE: 11.89%

• Fertilisers & Chemicals Travancore Ltd

Fertilisers & Chemicals Travancore Ltd (FACT), established in 1943, was the first large-scale fertiliser plant in India, located in Udyogamandal, Kochi, Kerala. The company manufactures and sells fertilizers, along with its by-products and Caprolactam. FACT operates under the Department of Fertilizers, which is part of the Ministry of Chemicals & Fertilizers, Government of India.

For the quarter ended June 2024, the company’s revenue increased to ₹476.81 crore from ₹393.25 crore in the preceding quarter. Meanwhile, the net profit decreased to ₹-136.37 crore from ₹-88.05 crore in the previous quarter. 

Key metrics: 

• ROE: 35.77%

• Jindal Stainless Ltd

Jindal Stainless Ltd is one of the leading producers of stainless steel flat products in India. They offer different grades, including Austenitic, Ferritic, Martensitic, and Duplex, which are used in industries like automobiles, railways, construction, and consumer goods.

For the quarter ended June 2024, the company’s revenue increased to ₹9,584.90 crore from ₹9,520.74 crore in the preceding quarter. Meanwhile, the net profit increased to ₹578.32 crore from ₹476.36 crore in the previous quarter. 

Key metrics: 

• EPS: ₹29.67
• ROE: 17.83%

• Persistent Systems

Persistent Systems offers software engineering and strategy services to help businesses modernise and grow. They provide their own software and frameworks that come with pre-built integration and acceleration. The company also partners with leading providers like Salesforce and AWS.

For the quarter ended June 2024, the company’s revenue increased to ₹2,691.40 crore from ₹1,630.90 crore in the preceding quarter. Meanwhile, the net profit increased to ₹247.94 crore from ₹183.96 crore in the previous quarter. 

Key metrics: 

• EPS: ₹64.27
• ROE: 20.72%

Conclusion

Investing in mid-cap stocks can be an effective way to diversify your portfolio and achieve long-term growth. Investors can consider the best mid-cap stocks that are looking for long-term returns with a moderate level of risk. However, it’s essential to be aware of the risks involved and do careful research and analysis before making any investment decision. 

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.