Synopsis: Five large-cap firms posted over 100 percent profit growth in Q3 FY26, reflecting strong demand, execution, and strong financial performance.
A number of large-cap, high-growth companies across multiple sectors have attracted notable investor attention with their strong Q3 FY26 results. Their performance highlights robust demand, efficient operations, and effective strategic execution, collectively driving sustained business momentum.
Listed below are five fundamentally sound stocks that have demonstrated strong financial performance and long-term growth potential by reporting a Q3FY26 profit increase of over 100 percent year over year.
Waaree Energies Limited
Waaree Energies Limited is an Indian solar energy company that manufactures and exports solar photovoltaic modules for residential, commercial, industrial, and institutional projects. It operates in three segments: module manufacturing, EPC & O&M solutions, and as an independent power producer. The company offers a range of modules (HJT, TOPCon, mono/polycrystalline, flexible), inverters, and solar products like streetlights, water heaters, and pumps, along with engineering, procurement, construction, and renewable power generation services. Founded in 1989, it is based in Mumbai, India.
With a market capitalization of Rs. 88,590.52 crore, the shares of Waaree Energies Limited closed at Rs. 3,079.90 on Friday, up by 0.27 percent from its previous closing price of Rs. 3,071.60 per equity share.
A return on equity (ROE) of about 27.4 percent, a return on capital employed (ROCE) of about 34.9 percent and debt to equity ratio at 0.26 demonstrate the company’s financial position. At the moment, the company’s P/E ratio is 25.5x which is lower as compared to its industry P/E 26.5x.
In Q3FY26, revenue surged to Rs. 7,565 crore, up 118.8 percent YoY from Rs. 3,457 crore in Q3FY25 and rising 24.7 percent QoQ from Rs. 6,066 crore in Q2FY26, driven by strong business momentum. Profit increased to Rs. 1,107 crore, more than doubling with a YoY growth of 118.3 percent from Rs. 507 crore and up 26.1 percent QoQ from Rs. 878 crore, reflecting robust top-line growth translating into strong bottom-line performance.
Bharat Heavy Electricals Limited
Bharat Heavy Electricals Limited (BHEL) is an Indian multinational power and industrial equipment manufacturer. It designs, manufactures, and services power plant equipment, transmission and transportation systems, defense and aerospace products, industrial systems, renewable energy solutions, and energy storage/e-mobility systems.
BHEL also provides engineering, procurement, and construction (EPC) services for coal, gas, hydro, nuclear, and solar power plants, along with a wide range of equipment like turbines, generators, boilers, valves, transformers, switchgears, and automation systems. Incorporated in 1964, it is headquartered in New Delhi, India.
With a market capitalization of Rs. 92,622.89 crore, the shares of Bharat Heavy Electricals Limited closed at Rs. 266 on Friday, down by 1.08 percent from its previous closing price of Rs. 268.90 per equity share.
A return on equity (ROE) of about 2.12 percent, a return on capital employed (ROCE) of about 4.87 percent and debt to equity ratio at 0.45 demonstrate the company’s financial position. At the moment, the company’s P/E ratio is 114x which is higher as compared to its industry P/E 40x.
In Q3FY26, revenue rose to Rs. 8,473 crore, up 16.4 percent YoY from Rs. 7,277 crore in Q3FY25 and 12.8 percent QoQ from Rs. 7,512 crore in Q2FY26, reflecting steady growth. Profit jumped to Rs. 390 crore, a strong YoY increase of 188.9 percent from Rs. 135 crore and a 4 percent QoQ rise from Rs. 375 crore, highlighting significant improvement in earnings despite moderate revenue gains.
JSW Steel Limited
JSW Steel Limited is an Indian steel manufacturer producing a wide range of iron and steel products including TMT bars, coils, sheets, galvanized and color-coated steel, alloy steels, and specialty products under brands like JSW Silveron+, JSW Radiance, and JSW Colouron+.
It also operates in steel trading, mining, logistics, real estate, and paints, and produces industrial gases and operates coke ovens, pellet plants, and steel plants. Its products serve the automotive, engineering, machinery, construction, and project sectors. Founded in 1982 as Jindal Vijayanagar Steel, it was renamed JSW Steel in 2005 and is headquartered in Mumbai, India.
With a market capitalization of Rs. 3,02,258.11 crore, the shares of JSW Steel Limited closed at Rs. 1,236 on Friday, down by 0.31 percent from its previous closing price of Rs. 1,239.80 per equity share.
A return on equity (ROE) of about 4.94 percent, a return on capital employed (ROCE) of about 8.11 percent and debt to equity ratio at 1.22 demonstrate the company’s financial position. At the moment, the company’s P/E ratio is 38.7x which is higher as compared to its industry P/E 22x.
In Q3FY26, revenue increased to Rs. 45,991 crore, up 11.1 percent YoY from Rs. 41,378 crore in Q3FY25 and 1.9 percent QoQ from Rs. 45,152 crore in Q2FY26, showing steady growth. Profit surged to Rs. 2,410 crore, a sharp YoY rise of 235.3 percent from Rs. 719 crore and a strong QoQ increase of 46.4 percent from Rs. 1,646 crore, reflecting significant improvement in profitability.
GE Vernova T&D India Limited
GE Vernova T&D India Limited is an Indian company that builds power transmission and distribution infrastructure domestically and internationally. It offers products and solutions including transformers, switchgears, circuit breakers, substations, smart grid and power management systems, renewable integration technologies, and digital software solutions. The company also provides turnkey substation projects and maintenance services. Formerly GE T&D India, it was renamed in October 2024, is headquartered in Noida, India, and operates as a subsidiary of Grid Equipments Private Limited.
With a market capitalization of Rs. 90,512.45 crore, the shares of GE Vernova T&D India Limited closed at Rs. 3,535, up by 0.61 percent from its previous closing price of Rs. 3,513.50 per equity share.
A return on equity (ROE) of about 40.4 percent, a return on capital employed (ROCE) of about 54.7 percent and debt to equity ratio at 0.01 demonstrate the company’s financial position. At the moment, the company’s P/E ratio is 81.2x which is higher as compared to its industry P/E 40x.
In Q3FY26, revenue rose to Rs. 1,701 crore, up 58.4 percent YoY from Rs. 1,074 crore in Q3FY25 and 10.6 percent QoQ from Rs. 1,538 crore in Q2FY26, reflecting strong top-line growth. Profit stood at Rs. 291 crore, more than doubling YoY with a 103.5 percent increase from Rs. 143 crore, while slightly declining 2 percent QoQ from Rs. 299 crore, indicating stable earnings despite a minor sequential dip.
Indian Oil Corporation Limited
Indian Oil Corporation Limited (IOCL) is a leading Indian energy company operating in oil, gas, petrochemicals, and alternative energy sectors domestically and internationally. It is involved in refining, exploration, pipeline transportation, petrochemicals, gas and LPG marketing, city gas distribution, and downstream operations, as well as lubricants, aviation refueling, retail fuel stations, and bunkering. IOCL also invests in low-carbon, green energy, battery technology, wind and solar power, and alternative fuels. Founded in 1959 and renamed in 1964, it is headquartered in New Delhi, India.
With a market capitalization of Rs. 2,46,980.46 crore, the shares of Indian Oil Corporation Limited closed at Rs. 174.90 on Friday, down by 0.49 percent from its previous closing price of Rs. 175.77 per equity share.
A return on equity (ROE) of about 6.51 percent, a return on capital employed (ROCE) of about 7.36 percent and debt to equity ratio at 0.74 demonstrate the company’s financial position. At the moment, the company’s P/E ratio is 6.92x which is similar as compared to its industry P/E 6.92x.
In Q3FY26, revenue rose to Rs. 2,05,157 crore, up 5.7 percent YoY from Rs. 1,94,014 crore in Q3FY25 and 14.9 percent QoQ from Rs. 1,78,628 crore in Q2FY26, reflecting strong sequential growth. Profit surged to Rs. 13,502 crore, a massive YoY increase of 529 percent from Rs. 2,147 crore and a robust QoQ rise of 64.9 percent from Rs. 8,191 crore, highlighting exceptional bottom-line expansion.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
