20 Best High Growth Low PE Stocks in India 2025

Introduction: Why I Keep Coming Back to Low PE + High Growth Stocks

Every time I sit down with market data, I look for stories that numbers alone can’t tell. For me, the sweet spot lies in high-growth, low P/E stocks. These are companies where earnings are growing fast, yet the stock trades at a valuation that feels cheaper than the potential.

But here’s the tricky part—low P/E doesn’t always mean undervaluation. Sometimes it signals hidden risks, and other times it’s just the market being too short-sighted. That’s why I always prefer to dig into fundamentals, management quality, and sector dynamics before getting excited.

Over the years, I’ve built a process of filtering, reading annual reports, and matching numbers with real-world stories. This article is my personal take on 20 best low P/E high growth stocks in India 2025, based on the data I have on my desk right now.

20 Best High-Growth Low PE Stocks in India 2025

20 Best High-Growth Low PE Stocks

When I see a table full of numbers, I don’t just skim through P/E ratios. I ask myself a few practical questions:

• Does the company’s earnings growth justify the valuation?

• Is the business in a cyclical industry or does it have structural growth drivers?

• How does the debt-to-equity ratio look?

• What do margins and reserves tell me about stability?

For me, this process is like reading between the lines. A stock with a P/E of 10 may look cheap, but if it’s in a sector where growth is drying up, it’s a value trap. On the other hand, a stock trading at a moderate P/E but growing 20–30% consistently might actually be undervalued.

This lens helps me move from numbers to narratives—and that’s where real investing decisions are made.

Stock-by-Stock Insights

1. Tata Motors Ltd. – Automobiles in Transition

Tata Motors has always been more than just a truck and passenger vehicle maker. What excites me is its transition into the electric vehicle (EV) space. The company owns Jaguar Land Rover globally, which gives it exposure to premium markets, while at home it dominates EV adoption with models like Nexon EV.

Yes, the stock has had wild swings, but when I see earnings catching up with valuations, I know this is more than a cyclical play. With global supply chains stabilizing, Tata Motors’ P/E looks modest for the kind of growth the EV story can deliver. That’s why many see it as a low p e high growth stock rather than just another automobile company.

2. Gujarat Gas Ltd. – Energy Transition Play

When I think about India’s urbanization and clean energy goals, Gujarat Gas naturally comes to mind. The company is a key player in city gas distribution, connecting households, industries, and transport to natural gas.

What makes it interesting is how demand continues to rise as more states push for CNG adoption. Of course, global LNG price volatility remains a challenge, but structurally, India’s gas consumption story is intact. With a reasonable P/E ratio compared to its growth prospects, it fits well into the high growth low PE stocks in India 2025 basket.

3. Shriram Finance Ltd. – Lending to Bharat

Shriram Finance has always been about lending to India that lives outside the metros. Its strength lies in financing trucks, small businesses, and rural households.

For me, what stands out is how the company has managed asset quality despite operating in riskier segments. That tells me the management knows its borrowers well. The P/E isn’t stretched, which makes it one of those undervalued growth stocks I keep an eye on.

4. UPL Ltd. – Agrochemicals with Global Reach

Whenever I look at UPL, I see a company that sits at the heart of food security. Its agrochemical products reach farmers not just in India, but across the globe.

Yes, the company has been battling debt concerns, and agrochemical demand is cyclical. But what I like is its global distribution strength. With earnings support, the P/E multiple looks reasonable. This makes UPL a classic case of growth at reasonable price stocks.

5. Maruti Suzuki India Ltd. – Market Leader’s Growth Story

It’s hard to talk about cars in India without Maruti Suzuki popping up. For decades, it has dominated passenger car sales, and despite growing competition, it still holds the largest market share.

What I find interesting is Maruti’s pivot towards hybrids and electric cars. In my view, this is what keeps the company relevant for the next decade. Despite its scale, the valuation isn’t sky-high, making it a practical choice when scanning for low- and high-growth stocks.

6. IndusInd Bank Ltd. – Private Bank on a Comeback

IndusInd Bank has had its ups and downs. A few years back, asset quality concerns spooked investors, and the stock derated sharply. But as I track the recent numbers, I see a steady comeback.

The focus on strengthening deposits and improving the liability franchise gives me comfort. While it’s still catching up with bigger private banks, the valuation remains attractive, and growth is picking up. This blend makes it an undervalued growth stock in the banking space.

7. Bajaj Finance Ltd. – NBFC Giant with Consumer Focus

Bajaj Finance is one of those companies that rewrote how Indians borrow money. From EMI financing in stores to personal loans on apps, its reach is massive.

I keep hearing the argument that its valuation is expensive. But when I compare its earnings growth with its P/E, the picture changes. Strong cross-selling, digital adoption, and low NPAs make it a growth at reasonable price stock even today.

8. Larsen & Toubro Ltd. – Infrastructure Backbone of India

Whenever India talks about infrastructure, Larsen & Toubro is always in the mix. Be it roads, airports, metro lines, or defence manufacturing—L&T has a hand in all of it.

I like how the company balances its order book with execution. As government spending on infra continues, L&T’s earnings visibility improves. For me, its valuation feels modest compared to the growth pipeline. That’s why it often features in my high growth low PE stocks radar.

9. Bharat Petroleum Corporation Ltd. – Energy Refiner Story

BPCL has always been sensitive to crude oil prices and government policy. But beyond the noise, what I see is a refining giant with stable market positioning.

The disinvestment story often pops up around BPCL, which adds to market excitement. While PSU stocks are never straightforward, the dividend yield and relatively low P/E make BPCL a case worth watching.

10. Hindalco Industries Ltd. – Global Metal Play

When it comes to aluminium, Hindalco is a giant. Through Novelis, it has strong global exposure, making it more than just a domestic play.

Yes, commodity cycles are unpredictable. But what gives me comfort is Hindalco’s effort to deleverage and improve efficiencies. The valuation looks undemanding, which makes it stand out in the list of low valuation high growth stocks.

11. Axis Bank Ltd. – Retail Banking Growth Engine

Axis Bank has quietly turned itself around in recent years. From being behind the curve in retail banking, it has now built a strong loan book and improved profitability.

When I track its numbers, I see steady growth with improving asset quality. The P/E isn’t demanding compared to private peers, and that combination is exactly what I look for in high growth low PE stocks.

12. Power Grid Corporation of India Ltd. – Stability with Growth

For investors who like stability, Power Grid is a fascinating case. It sits at the centre of India’s power transmission network, a business that offers predictable cash flows.

Even though it’s a PSU, I see a mix of steady dividends and gradual earnings growth. Its valuation remains reasonable, making it a growth at reasonable price stock in the utilities space.

13. Coal India Ltd. – Energy Demand Keeps It Relevant

Coal India often gets tagged as an “old economy” company. But here’s the reality: India still relies heavily on coal for electricity. And Coal India is the largest supplier.

What makes it interesting for me is the high dividend yield and low P/E valuation. While ESG debates will always hover around it, the growth in demand ensures it stays relevant.

14. Infosys Ltd. – IT Services With Global Presence

Infosys has built its reputation as one of India’s IT service leaders. Digital transformation demand keeps its order book healthy.

Yes, margins fluctuate due to wage costs and currency swings. But when I look at its scale, client stickiness, and earnings visibility, the P/E doesn’t look unreasonable. For me, Infosys is a high growth low PE stock in the IT sector.

15. ICICI Bank Ltd. – Leading Private Bank in Growth Lane

ICICI Bank has had a remarkable journey of transformation. Strong retail growth, consistent profitability, and lower NPAs have earned it investor trust.

Even though valuations have expanded, they still don’t look stretched compared to growth. That’s why ICICI often makes it into my personal list of undervalued growth stocks.

16. State Bank of India – PSU Bank Reinvented

There was a time when PSU banks were avoided by serious investors. But SBI has changed that narrative. With technology adoption, strong deposit base, and improved asset quality, it has emerged as a market favourite.

What I personally like is how SBI has managed to balance being a PSU with delivering growth like a private bank. Its P/E remains low compared to peers, making it a low p e high growth stock.

17. HDFC Bank Ltd. – Banking Sector Benchmark

HDFC Bank has always been the benchmark for consistency. Quarter after quarter, it delivers steady growth in advances, deposits, and profitability.

The merger with HDFC Ltd. has expanded its balance sheet even further. Despite being a large-cap, the stock’s P/E feels justified because earnings visibility is strong. For me, HDFC Bank is a textbook example of growth at reasonable price stocks.

18. Tata Consultancy Services Ltd. – IT Giant with Scale

TCS is India’s largest IT company and a global powerhouse. Large contract wins, strong client relationships, and high margins make it a stable growth machine.

While the P/E may look higher than some peers, earnings resilience makes it reasonable. In my books, TCS is still among the best low p e high growth stocks in India 2025.

19. Tata Steel Ltd. – Steel Cycle Story

Tata Steel is cyclical, no doubt. But what I admire is how aggressively the company has reduced debt. That creates more breathing room in downcycles.

With infrastructure demand strong, earnings support looks promising. The P/E is low, making Tata Steel one of those undervalued growth stocks worth keeping on the radar.

20. ONGC Ltd. – Oil & Gas Backbone

ONGC is India’s oil and gas backbone. It often gets written off as a boring PSU, but its role in energy security cannot be ignored.

Yes, crude price volatility impacts profitability. But at current valuations and with a steady dividend yield, ONGC sits comfortably in the list of low valuation high growth stocks.

What I Personally Watch Beyond Numbers

Numbers are important, but I never stop there. My checklist always includes:

• Global cycles – Commodities, oil, interest rates.

• Management quality – Track record, communication, governance.

• Leverage – Balance sheet strength matters more than earnings.

• Cash flows – Are profits translating into real money?

For me, this is what separates a value trap from a genuine opportunity.

Common Mistakes I See People Make with Low PE Stocks

• Buying blindly because P/E looks cheap.

• Ignoring debt-heavy balance sheets.

• Forgetting sector-specific risks.

• Expecting immediate rerating.

Low PE doesn’t guarantee high returns. It needs patience, conviction, and a deep understanding of the business cycle.

How I Build My Watchlist of High Growth Low PE Stocks

Here’s my simple process:

1. Screen – Start with data like the table above.

2. Read – Annual reports, concalls, presentations.

3. Compare – Industry peers, sector P/E averages.

4. Track – Quarterly results, management commentary.

5. Invest – Only when growth + valuation + conviction align.

This method keeps me grounded and away from hype.

Key Takeaways – The Way I See It

• High growth low PE stocks can be rewarding, but only if we read beyond numbers.

• Low P/E must be paired with consistent earnings growth.

• Management quality and sector trends matter as much as valuations.

• Patience is key—rerating doesn’t happen overnight.

As I always tell myself: it’s not about finding the cheapest stock, but about finding the business where growth is undervalued by the market. That’s where wealth is created.